Texas

Hillwood Breaks Ground on 300-Unit Casey at Frisco Station Apartments in Metro Dallas

by Taylor Williams March 28, 2022

FRISCO, TEXAS — Hillwood has broken ground on The Casey at Frisco Station, a 300-unit multifamily project that will be located on the northern outskirts of Dallas. Designed by JHP Architecture, the five-story building represents Hillwood’s third multifamily project within the 242-acre Frisco Station mixed-use development and follows The Cadence at Frisco Station, which opened last September. Units will offer one- and two-bedroom floor plans that will range in size from 513 to 1,375 square feet and feature built-in desks, stainless steel appliances, walk-in closets and private patios/balconies. Amenities will include a coworking lounge with private offices and conference facilities, pool, fitness center and a library. The first units are expected to be available for occupancy in fall 2023.

March 28, 2022

Development Industrial Texas

Stonemont Financial to Develop 230,000 SF Spec Industrial Project in Metro Austin

by Taylor Williams March 28, 2022

GEORGETOWN, TEXAS — Atlanta-based Stonemont Financial Group has acquired an 18-acre site just off Interstate 35 in the northern Austin suburb of Georgetown for the development of a 230,000-square-foot speculative industrial project. Westinghouse35 will feature a rear-load configuration, 32-foot clear heights and 58 dock doors, as well as up to 345 auto parking stalls and 68 full-size trailer parking stalls. Project partners include architecture firm GMA, civil engineer Kimley-Horn, design-build firm ARCO/Murray and leasing agent KBC Advisors. Completion is slated for the first half of 2023.

March 28, 2022

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 57,607 SF Industrial Lease in West Dallas

by Taylor Williams March 28, 2022

DALLAS — Lee & Associates has negotiated a 57,607-square-foot industrial lease at 119 Regal Row in the Brookhollow submarket of West Dallas. The property spans 182,149 square feet and features 28-foot clear heights, 115-foot truck court depths and 10 trailer stalls. Stephen Williamson and Matthew Johnson of Lee & Associates represented the landlord, Dogwood Industrial Properties, which acquired the asset in 2019, in the lease negotiations. The name and representative of the tenant were not disclosed.

March 28, 2022

Leasing Activity Office Texas

Tricentis Signs 42,019 SF Office Lease at Uplands Corporate Center in North Austin

by Taylor Williams March 28, 2022

AUSTIN, TEXAS — Tricentis, a provider of automated software testing services, has signed a 42,019-square-foot office lease at Uplands Corporate Center, a recently expanded office campus in North Austin. Russell Young of JLL represented the tenant, which plans to hire about 100 new employees, in the lease negotiations. Kevin Granger and Matt Frizzell of Cushman & Wakefield represented the landlord, Drawbridge Realty.

March 28, 2022

Acquisitions Industrial New York Self-Storage Texas Top Stories

CBRE Investment Management, William Warren Group Acquire Self-Storage Portfolio Across 10 States for $588M

by Julia Sanders March 25, 2022

NEW YORK CITY AND AUSTIN, TEXAS — CBRE Investment Management and facility operator William Warren Group have acquired a 64-property self-storage portfolio for $588 million. Austin-based World Class Holdings was the seller. The self-storage portfolio includes over 4.1 million rentable square feet across 10 states including Texas, Ohio, Illinois, Colorado, Missouri, Mississippi, Tennessee, Indiana, New York and Nevada. The properties include a total of 28,601 units. The self-storage properties will now operate under the StorQuest brand. The facilities were previously operated by Great Value Storage. The assets are primarily single-story drive-up units. The portfolio was 82 percent leased at the time of sale. “We expect these assets to add significant value to our investment stack given the high demand for self-storage facilities across multiple markets and end-users amid the pandemic,” says Justin Shanahan, deputy portfolio manager for CBRE Investment Management. “This specific portfolio offered a unique opportunity to acquire a diverse collection of facilities in various states that have strong population demographics. We believe that the portfolio is well-positioned to continue its robust leasing momentum and yield long-term profitability.” With this transaction, CBRE Investment Management, a New York City-based global real estate assets investment management firm and affiliate of Dallas-based …

March 25, 2022

Development Industrial Texas

Navistar Opens 1 MSF Truck Manufacturing Facility in San Antonio

by Taylor Williams March 25, 2022

SAN ANTONIO — Navistar (NYSE: NAV), an Illinois-based truck and bus manufacturer, has opened a nearly 1 million-square-foot facility in San Antonio. The site is located along Interstate 35 and links the company’s supply bases in Mexico and the United States. The plant includes a body shop, paint shop, general assembly shop and logistics center equipped to produce various vehicles, including electric models. Navistar is in the process of hiring as many as 600 people to operate the facility.

March 25, 2022

Acquisitions Multifamily Student Housing Texas

Preiss Co. Acquires 828-Bed Student Housing Property Near Texas A&M University

by Taylor Williams March 25, 2022

COLLEGE STATION, TEXAS — The Preiss Co. has acquired University Trails College Station, an 828-bed student housing property located within walking distance of the Texas A&M University campus in College Station. The community offers a mix of one-, two-, three- and four-bedroom units that are fully furnished and feature private balconies. Shared amenities include a sand volleyball court, pool and hot tub, basketball court, two fitness centers, a business center and multiple study rooms. Preiss Co. plans to implement a value-add program.

March 25, 2022

Development Multifamily Texas

Sparrow Partners, Welltower Underway on 195-Unit Active Adult Community in Metro Austin

by Taylor Williams March 25, 2022

PFLUGERVILLE, TEXAS — Austin-based developer Sparrow Partners and Ohio-based REIT Welltower (NYSE: WELL) are underway on construction of Amberlin Pflugerville, a 195-unit active adult community located on the northern outskirts of Austin. The property will feature one- and two-bedroom units for renters aged 55 and above that will range in size from 615 to 1,285 square feet. Amenities will include a pool, fitness center, game room, media lounge, community kitchen and coffee bar, dog park and pickleball and bocce ball courts. Rents will run from $1,500 to $2,500 per month. FK Architecture is designing the project. Completion is slated for this fall.

March 25, 2022

Leasing Activity Office Texas

SPB Hospitality Signs 42,290 SF Office Lease in Houston’s Energy Corridor

by Taylor Williams March 25, 2022

HOUSTON — SPB Hospitality, a national franchisor and operator of steakhouse and brewery concepts, has signed a 42,290-square-foot office lease at The Offices at Greenhouse, a 203,284-square-foot building in Houston’s Energy Corridor. California-based KBS owns the property, which was built in 2014 and offers a four-story parking structure, outdoor amenity spaces and a conference center. Brad Fricks of Stream Realty Partners represented KBS in the lease negotiations. Jon Silberman and Pierce Beyer of NAI Partners represented SPB Hospitality.

March 25, 2022

Acquisitions Office Texas

NAI Partners Brokers Sale of 31,112 SF Office Complex in San Antonio

by Taylor Williams March 25, 2022

SAN ANTONIO — NAI Partners has brokered the sale of Commons at the Dominion, a five-building, 31,112-square-foot office complex located near The Dominion master-planned community in San Antonio. According to commercialcafé.com, the property was built on 3.7 acres in 2007. Josh Murphy and Clare Flesher of NAI Partners represented the seller, Dominion Drive Partners, in the transaction. The buyer and sales price were not disclosed.

March 25, 2022

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