Texas

Presidium Begins Leasing 290-Unit Multifamily Project in Grand Prairie, Texas

by Taylor Williams December 23, 2021

GRAND PRAIRIE, TEXAS — Texas-based developer Presidium has begun leasing Presidium Hill Street, a 290-unit multifamily project located in the central metroplex city of Grand Prairie. Units are furnished with stainless steel appliances, smart technology lock systems and Ecobee thermostats. Amenities include a pool, business lounge with conference rooms, rooftop terrace, fitness center, onsite car wash and a pet grooming area. Project partners include O’Brien Architects, interior design firm SLJ Design Group and civil engineer Kimley-Horn. Move-ins are scheduled to begin in spring 2022.

December 23, 2021

Stonepost-at-Shadow-Creek-Ranch-Pearland

Acquisitions Multifamily Texas

Waterton Acquires 360-Unit Stonepost at Shadow Creek Ranch Apartments in Metro Houston

by Taylor Williams December 22, 2021

PEARLAND, TEXAS — Chicago-based investment firm Waterton has acquired Stonepost at Shadow Creek Ranch, a 360-unit apartment community located within the Shadow Creek master-planned community in the southern Houston suburb of Pearland. Built on 27.5 acres in 2010, the garden-style property offers one-, two- and three-bedroom units with an average size of 1,150 square feet. Amenities include a pool, fitness center, resident clubhouse, grilling area, billiards room, playground and a dog park. Waterton plans to upgrade the community’s unit interiors, mechanical systems, exterior landscaping and parking areas, as well as to rebrand the community as Sladestone at Shadow Creek Ranch. The seller and sales price were not disclosed.

December 22, 2021

Development Office Texas

Hillwood to Develop 135,000 SF Spec Office Building at Alliance Town Center in Fort Worth

by Taylor Williams December 22, 2021

FORT WORTH, TEXAS — Hillwood will develop a 135,000-square-foot speculative office building within the 900-acre Alliance Town Center development in Fort Worth. Hillwood Commons II is the first of two planned sister buildings and will be expandable to up to 270,000 square feet. The building will feature increased air filtration, bipolar ionization systems, touchless doors, electric vehicle charging stations and connectivity to the outdoors via the Alliance Town Center trail network and park system. Completion is slated for February 2023.

December 22, 2021

Development Multifamily Texas

Greystar Begins Leasing 190-Unit Active Adult Community Near Fort Worth

by Taylor Williams December 22, 2021

MANSFIELD, TEXAS — South Carolina-based developer Greystar has begun leasing Album Mansfield, a 190-unit active adult community located on the southern outskirts of Fort Worth. Units come in one- and two-bedroom formats and are reserved for renters age 55 and above. Amenities include a pool, outdoor activity terrace, dog park, coffee bar, game room, movie theater, fitness center and walking trails. Rents start at $1,300 per month for a one-bedroom unit.

December 22, 2021

Acquisitions Retail Texas

Disney Investment Group Arranges Sale of 111,211 SF Shopping Center in Coppell, Texas

by Taylor Williams December 22, 2021

COPPELL, TEXAS — Locally based brokerage firm Disney Investment Group (DIG) has arranged the sale of Valley Ranch Centre, a 111,211-square-foot retail property in Coppell, located in the northern-central part of the metroplex. Anchored by Club 4 Fitness and Dollar Tree, Valley Ranch Centre was built on 11.6 acres in 1989 and was roughly 75 percent leased at the time of sale. David Disney and Adam Crockett of DIG represented the seller, Dallas-based Centcom Realty Corp., and procured the out-of-state buyer in the transaction.

December 22, 2021

Acquisitions Retail Texas

Baceline Group Acquires Two Shopping Centers Totaling 78,311 SF in Dallas Area

by Taylor Williams December 22, 2021

DALLAS — Denver-based investment firm Baceline Group has acquired two shopping centers totaling 78,311 square feet in the Dallas area. The properties include the 53,948-square-foot Preston Lloyd Shopping Center, located at 19009 Preston Road in Dallas, and the 24,363-square-foot Orchid Centre, located at 4150 Eldorado Parkway in the northern Dallas suburb of McKinney. Baceline Group acquired the assets as part of a portfolio that included a 26,442-square-foot center in Montgomery, Ohio. The seller was not disclosed.

December 22, 2021

Acquisitions Multifamily Texas

CBRE Negotiates Sale of Two Metro Houston Multifamily Properties Totaling 602 Units

by Taylor Williams December 21, 2021

KATY AND PEARLAND, TEXAS — CBRE has negotiated the sale of two multifamily properties totaling 602 units in the Houston area. Spencer Park Row is a 390-unit community located in the western suburb of Katy, and Tranquility Lakeside is a 212-unit complex located in the southern suburb of Pearland. The properties were respectively built in 2002 and 2004 and offer one-, two- and three-bedroom units. Clint Duncan and Matt Phillips of CBRE represented the undisclosed seller in the transaction. James D’Argenio and Chang Liu represented the buyer, California-based investment firm Bascom Group, on an internal basis. Michael Thompson and Travis Fincher of CBRE arranged acquisition financing through a fund backed by Oaktree Capital.

December 21, 2021

Development Multifamily Texas

GID Development Group Completes 590-Unit Sterling Apartments in Houston

by Taylor Williams December 21, 2021

HOUSTON — GID Development Group has completed The Sterling, a 590-unit apartment community that represents Phase II of the Regent Square mixed-use project near Buffalo Bayou Park in Houston. Units feature studio, one- and two-bedroom floor plans, and amenities include a pool, dog park, fitness center, demonstration kitchen and a lounge. The midrise building also houses retail space and connects to multiple parks and open green spaces. Project partners included general contractor Arch-Con Corp. and design firms CBT and OJB Landscape Architecture. Rents start at approximately $1,400 per month for a studio unit.

December 21, 2021

Development Healthcare Texas

NexCore, NCLV Open 112,505 SF Medical Office Building in Northwest Houston

by Taylor Williams December 21, 2021

HOUSTON — A partnership between Denver-based developer NexCore Group and North Cypress Land Ventures (NCLV), a group of physician investors, has opened Doctors’ Pavilion, a 112,505-square-foot medical office building in Houston. The four-story building is situated on a 4.7-acre site within the HCA Houston Healthcare campus on the city’s northwest side and will house an array of specialty medical practices. Construction began in summer 2020. In addition to retaining ownership, NCLV physicians will occupy space within the property.

December 21, 2021

Acquisitions Industrial Texas

BH Properties Acquires 86,640 SF Industrial Building in Harlingen, Texas

by Taylor Williams December 21, 2021

HARLINGEN, TEXAS — Los Angeles-based BH Properties has acquired an 86,640-square-foot industrial building located in the Rio Grande Valley city of Harlingen. The property was built in 1970 as a regional distribution facility for Sears. Most recently, Valley Baptist Hospital operated the property as a laundry and supply storage facility prior to it being damaged in a storm. BH Properties will undertake a multimillion-dollar capital improvement program to address deferred maintenance, install a new roof and restore power and building systems. Conrad McEachern and Carlos Telles with CBRE represented the seller in the transaction.

December 21, 2021

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