FREDERICKSBURG, TEXAS — CooperWynn Capital, a Utah-based capital markets advisory firm, has arranged a fixed-rate loan of an undisclosed amount for the refinancing of the 103-room Fredericksburg Inn & Suites in Central Texas. Amenities include complimentary breakfast, an outdoor pool with a slide, volleyball pool and more than 3,700 square feet of meeting and event space. The borrower, Croesus Hotels LLC, bought the select-sertvice hotel in 2004 and subsequently invested more than $5 million in capital improvements. The direct lender was not disclosed.
AUSTIN, TEXAS — An undisclosed tenant has signed a 101,000-square-foot industrial lease at 71 Logistics Center, a 215,912-square-foot speculative facility located near Austin-Bergstrom International Airport. Building features include 32-foot clear heights, 185-foot truck court depths, 2,640 square feet of office space and parking for 142 cars (expandable to 262) and 54 trailers. Ace Schlameus and Travis Secor of JLL represented the landlord, Atlanta-based MDH Partners, in the lease negotiations. Brett Arabie of Cushman & Wakefield represented the tenant.
TERRELL, TEXAS — Main Square Development has announced that the company has received approval from the Terrell City Council for the development of Terra Nova, a new $3 billion master-planned community. Situated roughly 30 miles east of Dallas, the development will feature 1,200 multifamily units and a 48-acre mixed-use district, as well as 3,600 single-family homes. The mixed-use component of the development will include 200,000 square feet of shops, restaurants and offices anchored by a main square. Terra Nova will also feature 145 acres of parks and trails, including 27 neighborhood parks connected by 30 miles of biking and hiking trails, with an additional 220 acres of open natural space. The first phase will include a neighborhood pool and amenity center, and a regional amenity center will be added in a future phase. Project plans include 15 phases over the next 20 years. Plano, Texas-based Main Square is working with the Terrell Independent School District to identify locations for future elementary and middle schools that will ensure Terra Nova’s future residents have access to public education. The developer is also dedicating six acres for new police station and fire department facilities, in addition to one acre reserved for a new …
FRISCO, TEXAS — Wilks Development, the master developer behind the 217-acre Firefly Park mixed-use development in Frisco, is underway on construction of The Noc, a 187-unit multifamily project. Designed by Hord | Coplan | Macht, The Noc will offer studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, coworking and conference spaces, a dog spa and a resident lounge with golf simulators. Andres Construction is the general contractor for the project, construction of which is being financed through a HUD-insured loan that was originated by San Antonio-based Mason Joseph Co. Vertical construction began in late September, and completion is slated for fall 2027.
HOUSTON — Southern Realty Trust, an affiliate of Tannenbaum Capital Group (TCG), has provided $15 million in financing for a retail property in Houston. The property is a seven-story, fully leased complex that is located at the intersection of Houston’s Galleria and River Oaks neighborhoods and is home to Park House Houston, Ciel Restaurant and Fountain Life Longevity Center. The loan is part of a larger $45 million financing package, and the remaining proceeds were provided by another TCG lending affiliate. The borrower is a partnership between local developer John Scott and hospitality developer WoodHouse.
LIVE OAK, TEXAS — Dick’s Sporting Goods has opened a 100,000-square-foot store under its “House of Sport” brand at Live Oak Town Center, a mixed-use development located on the northeastern outskirts of San Antonio. The store, which along with a 300,000-square-foot IKEA and a 79,681-square-foot Floor & Décor will anchor the property, features a climbing wall, outdoor field, golf bays and a multi-sport cage. David Nicolson and Michael Schoenbrun of Weitzman internally represented the landlord in the lease negotiations.
HOUSTON — Locally based brokerage firm Baker Katz has negotiated seven new retail leases for Einstein Bros. Bagels in the greater Houston area. The spaces are located within the Tanglewood and Garden Oaks neighborhoods in Houston proper, as well as in the suburbs of Katy, Conroe, Humble, Tomball and League City. The average deal size is 2,000 square feet. Landlord representatives in the various lease negotiations included CBRE, Excel Commercial, NewQuest, Fidelis, Blue Ox Group and SVN | J. Beard Real Estate.
HOUSTON — Johnson Brothers of Texas Inc., a distributor of alcoholic beverages, has signed an 11,250-square-foot industrial lease in North Houston. According to LoopNet Inc., the building at 3340 Greens Road was built in 1997 and totals 126,968 square feet. Ryan Hartsell of locally based brokerage firm Oxford Partners represented the tenant in the lease negotiations. Jack Rathe and Natalie Gilbert of Stream Realty Partners, along with internal agent Kyle Whieldon, represented the landlord, Prologis.
DALLAS — Global development and investment firm Matthews has acquired a 2 million-square-foot distribution center located just south of downtown Dallas. The site at 1600 Roe St. spans 38.5 acres, and the facility formerly housed the distribution operations of Sears Roebuck and was later rebranded as Cedars Commerce Center. Most recently, LBA Logistics occupied the property. David Davidson Jr. and Jake Milner of Davidson Bogel Real Estate brokered the sale. The seller and sales price were not disclosed. Matthews did not disclose future plans for the property.
CEDAR HILL, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Midtown Cedar Hill, a 354-unit apartment community located on the southern outskirts of Dallas. Built on 13 acres in 2015, Midtown Cedar Hill is a three-story, garden-style building that offers one- and two-bedroom units with an average size of 894 square feet. Amenities include a pool, business center and picnic areas with barbecue grills. Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Cameron Purse of IPA represented the seller and procured the buyer in the transaction. Both parties requested anonymity. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital Markets arranged acquisition financing for the deal.