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Southlake-Business-Park
AcquisitionsIndustrialTexas

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

by Taylor Williams

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.

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Willowbend-Apartments-Humble
LoansMultifamilyTexas

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

by Taylor Williams

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.

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IndustrialLeasing ActivityLee & AssociatesTexas

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

by Taylor Williams

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.

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Leasing ActivityOfficeTexas

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

by Taylor Williams

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.

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AcquisitionsOfficeTexas

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

by Taylor Williams

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.

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DevelopmentRetailTexas

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

by Taylor Williams

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.

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AcquisitionsMultifamilyTexas

IPA Negotiates Sale of 589-Unit Multifamily Development in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Lofts at Alta LeftBank and The Flats at Alta LeftBank, a two-property, 589-unit multifamily development in Fort Worth. Built in 2018, both communities are located on a 44-acre site at 600 Harrold St. in the city’s West 7th Street District. Both communities offer amenities such as pools, demonstration kitchens, social lounges and fitness centers. Drew Kile, Joey Tumminello, Will Balthrope, Michael Ware, and Taylor Hill of IPA represented the seller, a partnership between developer Wood Partners and Goldman Sachs Asset Management, in the transaction. Lubbock-based Madera Residential purchased the development for an undisclosed price.

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LoansMultifamilyTexas

Dwight Capital Provides $21M HUD-Insured Loan for Refinancing of Amarillo Apartment Community

by Taylor Williams

AMARILLO, TEXAS — New York City-based Dwight Capital has provided a $21 million HUD-insured loan for the refinancing of Ridgewood Apartments, a 240-unit property in Amarillo. The 10-building community was constructed in 2015 and features a pool, playground, business center, fitness center, basketball and volleyball courts and a party room. Daniel Malka of Dwight Capital originated the financing. The borrower was not disclosed.

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Riverside-Place-Grand-Prairie
AcquisitionsMultifamilyTexas

CBRE Brokers Sale of 148-Unit Riverside Place Apartments in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — CBRE has brokered the sale of Riverside Place, a 148-unit apartment complex located in the central metroplex city of Grand Prairie. The property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, conference and meeting space, business center, outdoor grilling stations, coffee bar, pet park and package lockers. Chris Deuillet and William Hubbard of CBRE represented the seller, Irving, Texas-based MPH Partners, in the transaction. California-based Shore to Shore Properties purchased the asset for an undisclosed price.

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Granite-Park-Seven-Plano
Leasing ActivityOfficeTexas

Trintech Signs 70,000 SF Office Headquarters Lease at Granite Park Seven in Plano

by Taylor Williams

PLANO, TEXAS — Trintech, a locally based provider of financial software products, has signed a 70,000-square-foot office lease for its new headquarters space at Granite Park Seven in Plano. Craig Wilson and Randy Cooper of Stream Realty Partners represented the tenant in the lease negotiations. Union Investment owns the asset, having purchased it from Granite Properties in 2018.

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