Texas

LV Collective to Develop 48-Story Multifamily Tower in Austin’s Rainey Street District

by Taylor Williams January 13, 2023

AUSTIN, TEXAS — Locally based developer LV Collective will construct a 48-story multifamily tower in Austin’s Rainey Street District that will be known as Paseo. Paseo will offer 557 units in one-, two- and three-bedroom formats, with residential amenities across multiple floors and several food-and-beverage concepts on the ground floor. Approximately 20 percent of the residences will be reserved as affordable housing. JE Dunn Construction is the general contractor for the project, and Pappageorge Haymes Partners is the architect. UMB Bank is providing construction financing. Construction is scheduled to begin in the first quarter and to be complete in late 2025.

January 13, 2023

Acquisitions Office Texas

CDC Houston Acquires Two Office Buildings Totaling 476,300 SF in North Houston

by Taylor Williams January 13, 2023

HOUSTON — CDC Houston, a division of Coventry Development Corp., has acquired 100 percent interests in two office buildings totaling 476,300 square feet in North Houston that the company developed in a joint venture with Patrinely Group and USAA Real Estate. Built in 2019, City Place 1 totals 149,500 square feet and is leased to tenants such as Arroyo Energy Investors and Focus Optical. Completed in 2018, City Place 2 spans 326,800 square feet and serves as the headquarters of the American Bureau of Shipping. The firm acquired the assets in conjunction with a purchase of majority stakes in two Marriott-branded hotels that are located within the City Place master-planned development.

January 13, 2023

Acquisitions Industrial Texas

Marcus & Millichap Negotiates Sale of 440-Unit Self-Storage Facility in Denton

by Taylor Williams January 13, 2023

DENTON, TEXAS — Marcus & Millichap has negotiated the sale of Stuff Hotel, a 440-unit self-storage facility located in the North Texas city of Denton. The property was built in 1985 and spans 56,310 square feet of net rentable of space. Brandon Karr, Danny Cunningham and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Danklefs also procured the buyer, another limited liability company. Both parties requested anonymity.

January 13, 2023

Acquisitions Industrial Texas

Lake Washington Partners Buys 418,000 SF Industrial Facility in South Dallas

by Taylor Williams January 13, 2023

DALLAS — Seattle-based investment firm Lake Washington Partners has purchased Tradepoint 20/45, a 418,000-square-foot industrial facility in South Dallas. Built in 2022, the property features 36-foot clear heights, 78 dock doors, two ramps, 124 car parking spaces and 107 trailer stalls. Dustin Volz, Stephen Bailey, Adam Citron, Dom Espinosa and Zach Riebe of JLL represented the seller, a partnership between Blumenfeld Development Group and Declaration Partners, in the transaction.

January 13, 2023

Acquisitions Multifamily Texas

Coldwell Banker Brokers Sale of 100-Unit Apartment Complex in Lubbock

by Taylor Williams January 13, 2023

LUBBOCK, TEXAS — Coldwell Banker Commercial Capital Advisors has brokered the sale of San Remy Apartments, a 100-unit complex in the West Texas city of Lubbock. The five-building complex was built on 3.5 acres in 1973 and was 96 percent occupied at the time of sale. Chase Tucker and Taylor Tucker of Coldwell Banker represented the seller, a limited liability company, in the transaction. A private investment group purchased the asset for an undisclosed price.

January 13, 2023

Development Hospitality Retail Texas

Universal Parks & Resorts Plans 97-Acre Theme Park, Hotel in Frisco

by Taylor Williams January 12, 2023

FRISCO, TEXAS — Universal Parks & Resorts has announced plans to open a new theme park on a 97-acre site in the northern Dallas suburb of Frisco. Universal, a division of Comcast Corp., also plans to develop a hotel at the site, which is located east of the Dallas North Tollway and north of Panther Creek Parkway. The proposed park will be smaller than the entertainment giant’s other resort destinations. In addition, the new venue will be designed to be more engaging for younger audiences and will offer interactive and playful shows, character meet and greets and unique merchandise. A construction timeline was not disclosed. In announcing the new park, Universal executives cited the region’s burgeoning population and strong track record of attracting new businesses as key reasons behind the move.

January 12, 2023

Acquisitions Development Industrial Texas

Dayton Street Partners Buys 65-Acre Industrial Campus in Metro Dallas, Plans Expansion

by Taylor Williams January 12, 2023

RICHARDSON, TEXAS — Chicago-based developer Dayton Street Partners has acquired a 65-acre manufacturing and distribution campus in the northeastern Dallas suburb of Richardson with plans to expand the site. The undisclosed seller has agreed to lease back 10 percent of the space at the 845,000-square-foot campus, and electronics manufacturer Celestica has leased 672,588 square feet. The seller also vacated the remaining 90,000-square-foot building, at which Dayton Street has launched a capital improvement program. The expansion will feature a 240,000-square-foot facility on a nine-acre parcel that is expected to be complete in early 2024. Larry Serota, Mike Hardage and Nora Hogan of Transwestern represented the seller in the transaction.

January 12, 2023

Acquisitions Office Texas

Hall Capital, Pillar Commercial Acquire 190,745 SF Office Building in Allen, Texas

by Taylor Williams January 12, 2023

ALLEN, TEXAS — A joint venture between two investment firms, Oklahoma-based Hall Capital and Dallas-based Pillar Commercial, has acquired One Bethany West, a 190,745-square-foot office building located in the northeastern Dallas suburb of Allen. The building is located within the Watters Creek mixed-use development and is home to tenants such as MD7, Micron Technologies and Highland Residential. The seller was Kaizen Development Partners. JLL arranged acquisition financing through BancFirst on behalf of the new ownership.

January 12, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 197-Unit Self-Storage Facility in Amarillo

by Taylor Williams January 12, 2023

AMARILLO, TEXAS — Marcus & Millichap has arranged the sale of Camp Lane Storage, a 197-unit facility located in the northwest Texas city of Amarillo. The property 24,440 spans square feet of net rentable, non-climate-controlled space and also includes 20 outdoor parking spaces. Arol Horkavy and Jon Danklefs of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

January 12, 2023

Leasing Activity Restaurant Retail Texas

Radom Capital Welcomes Six New Tenants to Office, Retail Development in Houston

by Taylor Williams January 12, 2023

HOUSTON — Locally based developer Radom Capital has welcomed six new tenants to Montrose Collective, an office and retail development in Houston. Concepts coming to the property include restaurants Graffiti Raw and Picnik — opening this month and in the spring, respectively — as well as four fitness and beauty concepts. SISU, a med spa, will debut in February, while Studio BE, Glosslab and Skin Laundry will open later this year. Montrose Collective, which currently features 15 retailers and five restaurants, is now 97 percent leased.

January 12, 2023

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