DALLAS — Lee & Associates has negotiated a 50,000-square-foot industrial lease in West Dallas. According to LoopNet Inc., the property at 4039 Rock Quarry Road was built in 2000 and spans 239,134 square feet. Adam Graham and Stephen Williamson of Lee & Associates represented the landlord, Prologis, in the lease negotiations. The name and representative of the tenant were not disclosed.
FORT WORTH, TEXAS — JLL has arranged a loan of an undisclosed amount for the refinancing of a 1.2 million-square-foot industrial building at AllianceTexas in North Fort Worth. Alliance Westport 25 was originally launched as a 1 million-square-foot speculative building in August 2022 and was subsequently expanded to meet the needs of the tenant, Georgia-based wire and cable manufacturer Southwire. The developer, Hillwood, completed the property, which features 40-foot clear heights, 188 dock doors and four drive-in doors, in April. Trey Morsbach, D.J. Meagher, Ryan Pollack and Chad Lisbeth of JLL arranged the debt on behalf of Hillwood. The direct lender was an undisclosed life insurance company.
IRVING, TEXAS — Chicago-based investment firm Harrison Street and PowerHouse Data Centers, a division of Virginia-based American Real Estate Partners, will develop a 946,000-square-foot campus in Irving. PowerHouse Irving will span 50 acres within the Las Colinas district and will consist of three buildings with a total power capacity of 200 megawatts. The site at 111 Customer Way is also situated adjacent to an existing Oncor substation. Construction is scheduled to begin in early 2025, with the first powered shell structure set to be delivered by late 2025.
SPRING, TEXAS — Partners Capital, the investment arm of Partners Real Estate, has purchased Old Town Spring Business Center, a 196,000-square-foot industrial flex property located on the northern outskirts of Houston. The property consists of four 49,000-square-foot buildings with suites that range in size from 2,625 to 35,875 square feet, as well as two acres of undeveloped land for future expansion. Veritex Bank provided acquisition financing for the deal. The seller and sales price were not disclosed.
HOLLY LAKE RANCH, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of a 130-unit hospitality property in Holly Lake Ranch, a census-designated area located about 100 miles east of Dallas. Holly Lake Resort spans 100 acres and features one- and two-bedroom cabins with an average size of 708 square feet. Amenities include a restaurant, movie theater, activity center with a game room, fitness center, fishing piers, pools, a minigolf course and tennis, pickleball and basketball courts, as well as access to kayaking, canoeing and hiking trails. Jon Krebbs of TMG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
HOUSTON — Club Quarters Hotels, an owner-operator of boutique hospitality properties, has completed a 70-unit apartment hotel in downtown Houston. Rusk House Serviced Apartments offers studio, one- and two-bedroom units that feature living rooms complete with sofas, as well as desks, dining areas, fully equipped kitchens and bathroom amenities. Guests also have access to onsite dining, housecleaning and laundry services. Rates start at $199 per night.
EL PASO, TEXAS — Atlanta-based investment firm MDH Partners has acquired Loop 375 Industrial, a 554,960-square-foot property in El Paso. The 36.7-acre development is located at the northeast corner of Amesbury Avenue and Joe Battle Boulevard and consists of three buildings, two of which span 107,943 square feet. The third building totals 339,074 square feet. Loop 375 Industrial features clear heights of 32 to 36 feet, a total of 191 dock doors and parking for 230 cars. Bret Felberg and Jeff Morris of Colliers represented the undisclosed seller in the transaction. Georga Rowe led the acquisition for MDH Partners. Building 1 is fully leased, as is roughly 200,000 square feet in Building 3. CBRE leases the property.
HOUSTON — Locally based developer McNair Interests has begun leasing Rowan on the Trails, a 221-unit apartment complex in Houston’s Westchase District. The project is part of a larger development, the first phase of which features the 330-unit Remy on the Trails. Residences come in studio, one-, two- and three-bedroom floor plans and range in size from 900 to 1,500 square feet. Amenities include a pool, fitness center, coworking spaces, clubroom and walking trails. Rents start at $1,650 per month for a studio apartment. Construction began in July 2023.
MIDLAND, TEXAS — Marcus & Millichap has brokered the sale of the 68-room Quality Inn Midland hotel in West Texas. The property offers amenities such as a hot breakfast bar and dining area, indoor pool, meeting room, business center, guest laundry facilities and a fitness center. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a private investor, in the transaction. The duo also procured a Texas-based limited liability company as the buyer. Both parties requested anonymity.
IRVING, TEXAS — Asset manager Singer Equities has signed a 15,294-square-foot lease at Cottonwood Office Center in Irving. The three-building, 165,000-square-foot campus was previously home to Liberty Mutual. John Dickenson and Paul Hernandez of Holt Lunsford Commercial represented the landlord, Capital Commercial Investments, in the lease negotiations. Brad Lipton of Mohr Partners represented the tenant.