HOUSTON — International law firm McGuireWoods has signed a 30,000-square-foot office lease at Texas Tower, a 47-story tower under construction in downtown Houston by Hines and Ivanhoe Cambridge. Under the terms of the 11-year lease, the tenant will take occupancy of the 24th floor beginning in June 2022. Bob Parsley, Darren Gowell and Taylor Wright with Colliers International represented the tenant in the lease negotiations. Michael Anderson with Cushman & Wakefield represented the landlord. Construction of Texas Tower, which is now 42 percent preleased, is expected to be complete in the fourth quarter.
CELINA, TEXAS — Locally based firm Centurion American Development Group will develop Legacy Hills, a 3,200-acre mixed-use project that will be located in Celina, about 45 miles north of Dallas. Preliminary plans call for 7,000 single-family homes, 4,100 multifamily units, 100 acres of commercial development, a 27-acre sports park, a golf course and walking trails. In addition, the site includes two 12-acre parcels that will house future schools within the Celina Independent School District. Construction of the first phase is scheduled to begin in late 2021.
RICHARDSON, TEXAS — North Carolina-based investment firm Bell Partners has acquired CityLine Park, a 435-unit apartment community located within the CityLine mixed-use development in the northeastern Dallas suburb of Richardson. Built in 2019, the property features studio, one-, two- and three-bedroom units and amenities such as a pool, fitness center and a clubhouse with a coffee bar. Bell Partners will rebrand the property as Bell CityLine.
SAN ANTONIO — Texas-based developer Presidium has begun leasing Presidium Chase Hill, a 370-unit multifamily project in northwest San Antonio. Designed by REES Associates Inc., the community will be situated on a 17-acre site near La Cantera Resort & Spa, which USAA Real Estate recently sold. Units will feature stainless steel appliances, granite countertops and walk-in closets. Amenities will include a pool, outdoor kitchens with grilling areas, a playground, dog park, fitness center, media room, bar and an onsite car wash. Presidium expects to complete the project by next summer.
STAFFORD, TEXAS — Dallas-based investment firm Catalyst Equity Partners has purchased Stafford Oaks, a 176-unit workforce housing community in the southwestern Houston suburb of Stafford that was built in 1978. The new ownership plans to implement a $2 million capital improvement program that will add amenities such as a turf soccer field and package lockers, as well as upgrade unit interiors with new flooring, appliances and washer/dryer connections. The seller was undisclosed.
MINERAL WELLS, TEXAS — Marcus & Millichap has brokered the sale of Tuck’s Mobile Home Park, an 50-site manufactured housing community in Mineral Wells, about 50 miles west of Fort Worth. Robert Denninger of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
SAN ANTONIO — Locally based developer Koontz Corp. will build Westport Industrial Park, a 360,000-square-foot industrial project that will be located near the corner of South Callaghan Road and State Highway 151 in San Antonio’s Near West Side submarket. Westport Industrial Park will consist of four 90,000-square-foot buildings that will be situated on a 35-acre site. Building features will include 24-foot clear heights, ESFR sprinkler systems, 130-foot truck court depths and ample trailer parking. Construction of Phase I, which will encompass the first two buildings, is scheduled to begin during the first quarter of 2022 and to be complete by the end of next year.
DALLAS — AT&T has opened Discovery District, a project that transformed the telecommunications giant’s headquarters in downtown Dallas into a mixed-use destination with retail, restaurant, office and entertainment uses. Designed by global architecture firm Gensler, AT&T Discovery District spans 6.5 acres and includes multiple art installations, as well as interactive features for customers. The Beck Group served as the general contractor of the project, which was conceived more than five years ago.
MISSOURI CITY, TEXAS — Houston-based development firm NewQuest Properties has broken ground on Phase II of Fort Bend Town Center, a project that will add 300,000 square feet of shopping, dining and entertainment space to the local supply of Missouri City, located southwest of Houston. A 12-screen Cinemark theater will anchor the 42-acre second phase, which is expected to come on line in the third quarter of 2023. NewQuest is also in the midst of negotiations with six potential junior anchor tenants for Phase II.
AZLE, TEXAS — Marcus & Millichap has brokered the sale of Eagle Mountain Self Storage, an 267-unit facility located in the northwestern Fort Worth suburb of Azle. The property spans 68,200 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor, in the transaction. The duo also procured the buyer, a limited liability company. Both parties requested anonymity.