PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of The Gardens Apartments, a 52-unit multifamily complex in Paris, about 115 miles northeast of Dallas. The property was built in 1970 and expanded in 2017, and unit interiors were recently upgraded. According to Apartments.com, residences come in one-, two- and three-bedroom units. Yonnic Land of TMG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
DALLAS — Holt Lunsford Commercial has negotiated a 46,000-square-foot industrial lease at 904 Regal Row in northwest Dallas. Sam Crain, Harrison Davis and Oliver Day of Holt Lunsford represented the tenant, Fresh from Texas LLC, in the lease negotiations. Kevin Griffiths and Michael Haggar with JLL represented the undisclosed landlord. Information on the property was not available via LoopNet.
By Jonathan Brown of JHP Architecture/Urban Design The essence of a thriving city lies in its diversity. Dynamic urban landscapes can achieve this effect by offering a robust mix of uses that cater to a wide range of people, keeping their streets and buildings lively and vibrant throughout the day and into the night. City administrators, architects and master planners have long sought the alchemical mixture for this success. However, zoning codes for various municipalities can often read like complex recipes: A cup of residential here, a few ounces of retail there, a pinch of municipal infrastructure all around, a dash of hidden parking and a sprinkling of community open space to really tie the flavors together! Successful placemaking is not simply the sum composition of all its parts; it requires thoughtful integration and balance. With today’s housing shortages, multifamily developments make sense, but integrating retail uses within those projects is challenging. This is despite the fact that many comprehensive plans and zoning codes mandate specific retail quotas, which may not be easily supported by the economics. Creating vibrant, engaging spaces requires more than just ticking boxes in the zoning code. Stakeholders want to avoid ending up with a …
SAGINAW, TEXAS — Marcus & Millichap has brokered the sale of Ashton, a 152-unit apartment complex in Saginaw, a northern suburb of Fort Worth. Ashton is a 15-building community that was constructed on approximately eight acres in 1984 and recently received capital improvements to unit interiors and common areas. Residences come in one- and two-bedroom floor plans and include private balconies/patios. The amenity package consists of pool, clubhouse, dog park and outdoor grilling and dining stations. Ford Braly, Al Silva and Dylan York of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
HOUSTON — Gulf Coast Crating has signed a 135,285-square-foot industrial lease expansion near Port Houston. The provider of specialty packaging services originally occupied 432,316 square feet at Building 1 of Portside Logistics Center, a 1 million-square-foot development on the city’s southeast side. The deal for the additional space within Building 2 brings the development to full occupancy. Tyler Maner and Jeremy Lumbreras of Stream Realty Partners, which owns the property in a joint venture with Principal Asset Management, represented ownership in the lease negotiations. Patrick McKiernan of First Houston Properties represented the tenant.
HOUSTON — Mississippi-based developer EastGroup Properties is nearing completion of a 97,285-square-foot industrial project in West Houston. The building is the second of six planned structures within Grand West Crossing and will feature speculative office space, double-row parking, 28-foot clear heights and an ESFR sprinkler system. Suites within the building are divisible to 9,500 square feet. Completion is slated for the summer. JLL is marketing Grand West Crossing for lease.
PASADENA, TEXAS — EDGE Capital Markets has arranged the sale of The Market at Crenshaw, a 37,103-square-foot retail strip center in Pasadena, an eastern suburb of Houston. Shadow-anchored by Academy Sports + Outdoors and Burlington, the center was 77 percent leased at the time of sale to a mix of national and local tenants. Kevin Holland and Britton Holland of EDGE represented the undisclosed seller in the transaction. The buyer was a national investor that also requested anonymity.
HOUSTON — Locally based brokerage firm Finial Group has negotiated a 29,667-square-foot industrial lease in northwest Houston. The tenant is Falcon View Energy Products, which supports upstream oil and gas operations. The space spans two buildings within Four Seasons Business Park, which consists of 16 buildings totaling 205,332 square feet on a 16-acre site. Christian Villarreal of Finial Group represented the undisclosed landlord in the lease negotiations. The tenant was self-represented.
HUMBLE, TEXAS — A joint venture between Memphis-based investment firm Fogelman Properties and Dallas-based Thackeray Partners has acquired Advenir at Eagle Creek, a 258-unit multifamily property located in the northern Houston suburb of Humble. Built in 2008, the property offers one-, two- and three-bedroom apartments. Amenities include a pool, game room, clubhouse, fitness center and a dog park. The property was 91 percent occupied at the time of sale. The new ownership plans to upgrade unit interiors, amenity areas and landscaping and has rebranded the property as The Fenwick. The seller and sales price were not disclosed.
DONNA AND MCALLEN, TEXAS — Houston-based brokerage firm Baker Katz has arranged two restaurant leases in South Texas for Cheddar’s Scratch Kitchen. The first deal is for a 6,142-square-foot space in Donna, and the second deal is for a restaurant within Trenton North Shopping Center in McAllen. Brian Smith of Merit Commercial Real Estate represented the landlord in the Donna transaction, and Louie Tijernia of CBRE represented the landlord in the McAllen transaction. Jason Baker and Traci Holman of Baker Katz represented the parent company and operator, Orlando-based Darden Restaurants Inc. The openings are slated for the third and fourth quarter, respectively.