Texas

JLL Negotiates Sale of 240,000 SF Shopping Center in Dallas

by Taylor Williams August 18, 2021

DALLAS — JLL has negotiated the sale of The Hill, a 240,000-square-foot shopping center located at the corner of Walnut Hill Lane and Central Expressway in north-central Dallas. Built in 1977, The Hill houses tenants such as Houndstooth Coffee, Hiatus Spa + Retreat, Snooze, Taco Deli, Hat Creek Burger Co. and Boardroom Salon for Men. Barry Brown, Ryan Shore, Chris Gerard and Jason Jacobs of JLL represented the seller, EB Arrow, in the transaction. North Carolina-based investment firm Asana Partners purchased the property for an undisclosed price in an off-market deal.

August 18, 2021

Development Industrial Texas

Creation Breaks Ground on 234,000 SF Northmark Commerce Center Near Fort Worth

by Taylor Williams August 18, 2021

HALTOM CITY, TEXAS — Creation, a Phoenix-based investment and development firm, has broken ground on Northmark Commerce Center, a 234,000-square-foot industrial project in the Fort Worth suburb of Haltom City. Designed by LGE Design Build, the Class A logistics facility is expected to be complete in late 2022. Creation is developing Northmark Commerce Center in partnership with Crow Holdings Capital. Dallas-based Holt Lunsford Commercial has been tapped to lease the development.

August 18, 2021

Acquisitions Multifamily Texas

Westmount Realty Capital Acquires 192-Unit Apartment Community in West Houston

by Taylor Williams August 18, 2021

HOUSTON — Dallas-based Westmount Realty Capital has acquired West End on Eldridge, a 192-unit apartment community in the Energy Corridor area of West Houston. The property was built in 1999 and features one- and two-bedroom units averaging 911 square feet. Amenities include a pool with a sundeck, outdoor grilling and lounge areas, a fitness center with a yoga room and a dog park. Westmount plans to implement a value-add program to unit interiors that will add stainless steel appliances, quartz countertops and tile backsplashes. In addition, the company will upgrade the amenity spaces and rebrand the community as Westmount at Eldridge. The seller was not disclosed.

August 18, 2021

Development Retail Texas

Victory Real Estate to Develop New Retail Project in Forney, Texas

by Taylor Williams August 18, 2021

FORNEY, TEXAS — Dallas-based Victory Real Estate Group will develop The Victory Shops at Forney, a new retail project that will be located on a 26-acre lot in Forney, an eastern suburb of Dallas. Phase I of the project will consist of 44,000 square feet across four buildings, and the remainder of the development will include 160,000 square feet for Phase II. Tenants will include Kohl’s, Aspen Dental, Jamba Juice, Chiloso Tex-Mex, The Joint Chiropractic, Mod Pizza and My Eye Lab. Construction of Phase I is set to begin in mid-September and to be complete in the first quarter of 2022. DuWest Realty has been appointed as the project’s leasing agent.

August 18, 2021

Acquisitions Industrial Texas

JLL Brokers Sale of 182,129 SF Southlake Business Park Near Fort Worth

by Taylor Williams August 17, 2021

SOUTHLAKE, TEXAS — JLL has brokered the sale of Southlake Business Park, a 182,129-square-foot light industrial development located near Fort Worth. The three-building park was developed in 2020 and was fully leased at the time of sale. Building features include 24- to 28-foot clear heights, 63 dock-high doors, 15 percent office finishes, ESFR fire protection systems and ample vehicle parking. Dustin Volz, Stephen Bailey, Dom Espinosa, Matthew Barge and Wesley Gilmer of JLL represented the seller, Holt Lunsford Commercial Investments, in the transaction. CBRE Global Investors purchased the asset for an undisclosed price. The development was fully leased to six tenants at the time of sale.

August 17, 2021

Loans Multifamily Texas

Greystone Provides $27.6M HUD-Insured Loan for Refinancing of Metro Houston Apartments

by Taylor Williams August 17, 2021

HUMBLE, TEXAS — Greystone has provided a $27.6 million HUD-insured loan for the refinancing of Willowbend Apartments, a 228-unit multifamily complex located in the northern Houston suburb of Humble. Built in 2016, the 10-building property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, pet park and an outdoor kitchen with grilling areas. Eric Rosenstock of Greystone originated the financing, which was structured with a fixed interest rate and a 35-year term and amortization schedule, through HUD’s 223(f) program on behalf of the borrower, Partin Properties LLC.

August 17, 2021

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 174,932 SF Industrial Lease Renewal in South Dallas

by Taylor Williams August 17, 2021

DALLAS — Lee & Associates has negotiated a 174,932-square-foot industrial lease renewal at 4100 Platinum Way in South Dallas. Nathan Denton of Lee & Associates and Brett Owens of Transwestern represented the landlord, Platinum Way Holdings, in the lease negotiations. Additional terms of the transaction were not disclosed.

August 17, 2021

Leasing Activity Office Texas

Entergy Signs 107,614 SF Office Lease Expansion at Hughes Landing in The Woodlands, Texas

by Taylor Williams August 17, 2021

THE WOODLANDS, TEXAS — Fortune 500 energy firm Entergy has signed a 107,614-square-foot office lease expansion at Hughes Landing, a 79-acre development located in The Woodlands, about 30 miles north of Houston. The company is expanding by 53,604 square feet within the Lake Front North campus at Hughes Landing to provide additional space for its 650-plus employees. Bob Parsely, Norm Munoz, Jillian Fredricks and Connor Duffy with Colliers International represented the landlord, The Howard Hughes Corp., in the lease negotiations. Hugh Herman, Carla Williams and Andy Ghertner with Cushman and Wakefield represented Entergy.

August 17, 2021

Acquisitions Office Texas

Colliers Brokers Sale of 79,956 SF Office Building in East Houston

by Taylor Williams August 17, 2021

HOUSTON — Colliers International has brokered the sale of Atrium 10 Tower, a 79,956-square-foot office building located on Houston’s east side. The six-story property is situated on a 2.4-acre site that fronts Interstate 10 and Loop 610. David Carter of Colliers represented the undisclosed seller in the transaction. Guy Brown of Texas Overland represented the buyer, an entity doing business as 11811 Properties.

August 17, 2021

Development Retail Texas

InvenTrust to Redevelop 433,677 SF Cyfair Town Center in Metro Houston

by Taylor Williams August 16, 2021

CYPRESS, TEXAS — Illinois-based shopping center REIT InvenTrust Properties will redevelop Cyfair Town Center, a 433,667-square-foot shopping center in the Houston suburb of Cypress. Kroger, J.C. Penney and Cinemark Theatres are the anchor tenants. InvenTrust’s improvements to the center will include new paint, LED lighting along the storefront exteriors, improved storefront awnings, upgraded signage and enhanced landscaping throughout the property. In addition, InvenTrust will incorporate more public seating and gathering spaces into the design of the center. The first phase of the renovation will begin this month, with completion scheduled for the fourth quarter. The second phase will begin in January 2022 with completion anticipated in late summer 2022.

August 16, 2021

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