Texas

Presidium Begins Construction on 344-Unit Multifamily Project in Metro Dallas

by Taylor Williams April 14, 2022

FARMERS BRANCH, TEXAS — Texas-based developer Presidium has begun construction on Presidium Valley View, a 344-unit multifamily project located in the northern Dallas metro of Farmers Branch. Units at Presidium Valley View will come with stainless steel appliances, quartz countertops, kitchen islands, built-in desks, private balconies, keyless entry mechanisms and individual washers and dryers. Indoors, the property will house a fitness center, clubroom area, coffee bar, theater lounge with a golf simulator and coworking spaces. Outdoor amenities will include a pool, yoga lawns, grilling areas and a pet park/spa. Dallas-based O’Brien Architects is the project architect. Phase I of the development is scheduled to be complete in late 2023.

April 14, 2022

Acquisitions Development Industrial Texas

DWG Capital Group Arranges Sale of 7.6-Acre Industrial Development Site in Bastrop, Texas

by Taylor Williams April 14, 2022

BASTROP, TEXAS — DWG Capital Group has arranged the sale of a 7.6-acre development site in Bastrop, about 30 miles east of Austin, that is zoned to support cold storage, distribution/warehousing or light retail development. The site consists of two adjacent parcels spanning 5.3 and 2.3 acres that are proximate to Tesla’s $1 billion Gigafactory. The buyer, an undisclosed Austin-based developer, plans to construct a self-storage or industrial flex building at the site with tentative plans to break ground in 2023. Judd Dunning of DWG Capital Group represented the seller, Fort Worth-based MAG Capital Partners, as well as the buyer, in the transaction.

April 14, 2022

Acquisitions Industrial Texas

Colliers Brokers Sale of 40,800 SF Industrial Building in San Antonio

by Taylor Williams April 14, 2022

SAN ANTONIO — Colliers has brokered the sale of a 40,800-square-foot industrial building located at 8555 NE Loop 410 in San Antonio. The property was built on two acres on the city’s east side in 1986. Jason Tangen of Colliers represented the buyer, TRECAP Management, in the transaction. Zachary Taylor of Colliers, along with Charles Hargis of Endura Advisory Group, represented the seller, EJ Morales III Holdings. The facility was 30 percent leased at the time of sale.

April 14, 2022

Mixed-Use Multifamily Office Retail Texas Top Stories

AMLI Residential, Stream Realty Plan $472M Transit-Oriented Development in Addison, Texas

by Katie Sloan April 14, 2022

ADDISON, TEXAS — AMLI Residential and Stream Realty Partners have been named master developers for a $472 million, 18-acre, mixed-use development in Addison, roughly 15 miles north of Dallas. The Town of Addison has been acquiring land for the project since the inception of the DART Light Rail system in 1983 with plans for a transit-oriented development. The project is centered on a DART Silver Line station currently under construction near Addison Circle Park, a 10-acre, master-planned public park. DART has partnered with the Town of Addison through a ground-lease structure that allows for the inclusion of both the train and bus stations in the development. Phase I of the project is set to include: A six-story, Class A office building with 150,000 square feet of leasable space and 9,000 square feet of ground-floor retail; a 13-story luxury multifamily community with 9,000 square feet of ground-floor retail space; a seven-story luxury multifamily building with 5,000 square feet of ground-floor retail space; a 650-stall parking structure with ground-floor retail; and a 45,000-square-foot entertainment complex operated by The HUB, a Texas-based creator of entertainment and restaurant venues with an emphasis on daily events and festivals. Cushman & Wakefield has represented the Town …

April 14, 2022

Industrial Leasing Activity Texas

Samsung Signs 815,850 SF Industrial Lease Renewal in Coppell, Texas

by Taylor Williams April 13, 2022

COPPELL, TEXAS — South Korean multinational electronics corporation Samsung has signed an 815,850-square-foot industrial lease renewal at Point West Industrial Park, a 2.1 million-square-foot development in the central metroplex city of Coppell. According to LoopNet Inc., the property at 400 Dividend Drive totals just over 1 million square feet and was built on a 48.8-acre tract in 2007. Matt Hyman represented the landlord, Indianapolis-based REIT Duke Realty (NYSE: DRE), in the lease negotiations on an internal basis. Mark Becker and Jay Benner of Cushman & Wakefield represented Samsung.

April 13, 2022

Acquisitions Multifamily Texas

Lynd Group Sells Houston-Area Apartment Community for $53.9M

by Taylor Williams April 13, 2022

PORTER, TEXAS — San Antonio-based development and investment firm Lynd Group has sold Villas at Valley Ranch, a 312-unit apartment community located in the northeastern Houston suburb of Porter, for $53.9 million. The property is situated within Signorelli Co.’s 1,400-acre Valley Ranch master-planned community. Units come in one- and two-bedroom floor plans, and amenities include a pool, fitness center, resident clubhouse, outdoor grilling and dining areas, a package handling system and a dog park. Lynd acquired the community less than a year ago for $39 million and implemented a value-add program. The buyer was Houston-based Keener Investments. Berkadia brokered the sale.

April 13, 2022

Acquisitions Multifamily Texas

Pegasus Real Estate, Thackeray Partners Buy 224-Unit Apartment Community in San Antonio

by Taylor Williams April 13, 2022

SAN ANTONIO — A partnership between Pegasus Real Estate and Thackeray Partners has purchased NOAH Apartments, a 224-unit multifamily community in San Antonio’s Alamo Heights neighborhood. The garden-style property was built in 1994. Amenities include a pool, fitness center, outdoor kitchen and a pet park. Ryan Epstein, Forrest Bass and Matt Pohl of Walker & Dunlop represented the partnership and the undisclosed seller in the transaction. Tom Toland and Matt Newton, also with Walker & Dunlop, arranged an undisclosed amount of acquisition financing on behalf of the new ownership, which plans to implement a value-add program.

April 13, 2022

Acquisitions Office Retail Texas

CTO Realty Agrees to Acquire $30M Preferred Equity Stake in Metro Dallas Office, Retail Property

by Taylor Williams April 13, 2022

ALLEN, TEXAS — CTO Realty Growth (NYSE: CTO) has entered into an agreement to acquire a $30 million preferred equity stake in Watters Creek at Montgomery Farm, a 458,000-square-foot office and retail property located in the northeastern Dallas suburb of Allen. Retail tenants at the property include Market Street, Anthropologie, Mi Cocina, DSW, The Cheesecake Factory, Brio Italian Grille and Michaels. The owner/seller of the property was not disclosed.

April 13, 2022

Acquisitions Retail Texas

Weitzman Arranges Sale of 16,918 SF Retail Strip Center in McKinney, Texas

by Taylor Williams April 13, 2022

MCKINNEY, TEXAS — Weitzman has arranged the sale of McKinney Marketplace, a 16,918-square-foot retail strip center located on the northern outskirts of Dallas. Shadow-anchored by Sprouts Farmers Market and LA Fitness, the property was fully leased at the time of sale to tenants such as Hollywood Feed, McKinney Emergency Vet, Waterview Dentistry, Little Caesars Pizza and Club Pilates. Derek Schuster and Kevin Butkus of Weitzman represented the seller, a Plano-based investment group, in the transaction.

April 13, 2022

Development Mixed-Use Texas

Southstar Communities Begins Construction on 1,900-Acre Mixed-Use Development Near San Antonio

by Taylor Williams April 12, 2022

NEW BRAUNFELS, TEXAS — Locally based developer Southstar Communities has begun construction on Mayfair, a 1,900-acre mixed-use development that will be located in the northeastern San Antonio suburb of New Braunfels. Southstar is developing the master-planned community in phases over a 15-year period and in partnership with the City of New Braunfels and the Greater New Braunfels Chamber of Commerce. Mayfair will ultimately consist of 6,000 residential units that will feature various product types and income restrictions, as well as 330 acres of public parks, 30 miles of trails and pathways and 70 acres of developable retail space. The initial phase of residential construction will deliver 750 single-family lots of varying sizes, 450 multifamily units and a 275-unit build-to-rent neighborhood. The development is expected to create about 2,000 permanent jobs and to generate $2 billion in tax revenue over that 15-year stretch.

April 12, 2022

Newer Posts

Older Posts