FORT WORTH, TEXAS — Texas-based accounting firm Weaver has signed a 35,948-square-foot office lease renewal in Fort Worth’s West Seventh district. Scott Morse, Scott Jessen, Andy Goldston, Daniel Mullen and Katherine Jessen of Citadel Partners represented Weaver in the lease negotiations. Matt Carthey and Jake Neal of Holt Lunsford Commercial represented the landlord, Macfarlan Capital Partners. Weaver, which also recently signed a new lease in Houston, is temporarily operating out of a smaller suite and plans to move into its newly renovated space in November.
WAXAHACHIE, TEXAS — A joint venture between two locally based firms, 2GR Equity and Connell Realty Services Inc., is underway on construction of a 562-unit self-storage facility in the southern Dallas suburb of Waxahachie. Dallas-based Lone Star Self Storage will operate the facility, which will be located at the corner of State Highway 77 and Cardinal Road. Simmons Bank provided construction financing for the project, which is expected to be complete by the end of the year.
FORT WORTH, TEXAS — A partnership between two private equity firms, Los Angeles-based Cottonwood Group and Dallas-based Texsun Holdings, has purchased a two-property multifamily portfolio totaling 480 units in Fort Worth. The properties, Woodstone and Bridge Hollow, both offer one- and two-bedroom units. The new ownership plans to implement a $5 million capital improvement plan across both assets. The seller and sales price were not disclosed.
HOUSTON — New York City-based investment firm Olive Tree Holdings will undertake a $25 million renovation of The Life at Grand Oaks, a 556-unit affordable housing community in Houston. Built in 1982, the property offers one- and two-bedroom units that are reserved for households earning 60 percent or less of the area median income. Units will be outfitted with new flooring, countertops and fixtures, and the property’s HVAC systems will be upgraded. Olive Tree also plans to refresh the amenity spaces, which include a pool, playground, clubhouse and a computer room. Completion is slated for mid-2023.
COPPELL, TEXAS — Lee & Associates has negotiated a 33,000-square-foot industrial lease at 921 W. Bethel Road in the northern-central metroplex city of Coppell. According to LoopNet Inc., the 140,000-square-foot building was constructed on 17.3 acres in 2009 and features 32-foot clear heights and 15 exterior dock doors. Ken Wesson and Mark Graybill of Lee & Associates represented the landlord, Nuveen Real Estate, in the lease negotiations. The name and representative of the tenant were not disclosed.
AUSTIN, TEXAS — DWG Capital Partners has acquired a 10,500-square-foot industrial property located at 9606 Old Manor Road in Austin. At the time of sale, the single-tenant facility was fully occupied by custom steel fabricator Austin Iron on a net-lease basis. Drew Boroughs and Andrew Gross of Matthews Real Estate Investment Services represented the undisclosed seller in the transaction. First Bank Texas provided fixed-rate acquisition financing for the deal.
SAN MARCOS, TEXAS — International investment firm Walton Global has sold a 681-acre development site located along State Highway 142 in the Central Texas city of San Marcos. The buyer, SafeHand Holdings LLC, plans to develop both residential and commercial space at the site, which is known as Turner Crest but did not disclose specific components or construction timelines. Richard Harmon of TRE Commercial represented the buyer in the land deal.
TEMPLE, TEXAS — Battery supplier East Penn Manufacturing has opened a new production and distribution facility in the Central Texas city of Temple that spans 393,000 square feet, according to The Center Square, a state and local government and economic news agency. The project, which represents a total capital investment of $106 million, will ultimately add more than 260 jobs to the local economy.
FRISCO, TEXAS — General contractor Adolfson & Peterson Construction has completed the 106,622-square-foot headquarters facility for the PGA of America in Frisco. The facility features enclosed offices, an executive boardroom, outdoor terraces, seminar rooms, indoor training facilities, a driving range simulator and a professional development center. Page designed the facility, with Cushman & Wakefield serving as the construction manager.
ROSENBERG, TEXAS — Colliers has brokered the sale of Fountains of Rosenberg, a 184-unit multifamily complex located on the southwestern outskirts of Houston. The recently renovated property offers a pool and a fitness center. Chip Nash, Bob Heard and Jaleel Adatia of Colliers represented the seller, an entity doing business as Mosaic Fountains LP, in the transaction. The buyer was Dallas-based Momentum Multifamily.