Texas

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

Acquisitions Multifamily Texas

Exact Capital Acquires Affordable Housing Community in Oklahoma City for $59M

by Taylor Williams April 12, 2022

OKLAHOMA CITY — New York-based development and investment firm Exact Capital has acquired Isola Bella Apartments, a 77-building affordable housing community located at 6303 NW 63rd St. in Oklahoma City, for $59 million. Isola Bella’s unit mix comprises 451 one-bedroom units, 280 two-bedroom apartments, 16 three-bedroom residences, 23 four-bedroom dwellings and a superintendent’s unit. According to Apartments.com, amenities include a pool, fitness center, business center, clubhouse and onsite laundry facilities. The new ownership will renovate and rebrand the property as Alora Apartments. Following the renovation and recapitalization of the property with Low-Income Housing Tax Credits, units will be reserved for renters earning up to 60 percent of the area median income.

April 12, 2022

Development Industrial Texas

Equity Industrial, Raith Capital to Develop Three Spec Warehouses Totaling 304,303 SF in El Paso

by Taylor Williams April 12, 2022

EL PASO, TEXAS — A partnership between Boston-based Equity Industrial Partners and New York-based Raith Capital Partners will develop three speculative warehouses in the El Paso area that will total 304,303 square feet. The two buildings at 9577 Plaza Circle will total 215,444 square feet and are expected to be complete in the fourth quarter. The building at 455 Pan American Drive will span 88,859 square feet and is slated for a first-quarter 2023 delivery. All three buildings will feature 1,200-square-foot office suites, 28-foot clear heights and ESFR sprinkler systems. CBRE has been tapped to lease the buildings. The partnership has developed other spec industrial projects in El Paso that have since been sold.

April 12, 2022

Development Office Texas

Ivanhoe Cambridge, Greystar Break Ground on 170,000 SF Office Project in Downtown Austin

by Taylor Williams April 12, 2022

AUSTIN, TEXAS — Canadian developer Ivanhoé Cambridge and South Carolina-based Greystar have broken ground on a 170,000-square-foot office project in downtown Austin. The seven-story building will be part of 1121 at Symphony Square, a mixed-use development at which The Waller, a 32-story residential tower, is currently under construction. The property will feature 5,000 square feet of retail and restaurant space, as well as a range of amenities that promote employee health and wellness, such as a pool, fitness center and turf lawn. Architecture firm R2L is designing the project, with interiors by Austin-based Page and landscape architecture by TBG Partners. Completion is slated for spring 2023.

April 12, 2022

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