Texas

Hewlett-Packard Enterprise Sells 2 MSF Former Campus in Houston

by Taylor Williams April 1, 2022

HOUSTON — Hewlett-Packard Enterprise (HPE) has sold its 2 million-square-foot former office and industrial campus in Houston. Built between 1984 and 1988, the campus comprises five office buildings, two manufacturing/distribution buildings and four structures that house maintenance and/or amenity space. Amenities include a cafeteria, fitness center, employee lounges, conference rooms, coffee/snack bars and an outdoor covered pavilion with a kitchen area for events. The property also features five parking garages, which along with surface lots total 5,229 spaces. Kevin McConn, Rick Goings, Ronnie Deyo, Beau Bellow and Ethan Goldberg of JLL represented HPE, which recently relocated to CityPlace at Springwoods Village. Boyd Commercial represented the buyer, an affiliate of Florida-based alcoholic beverage wholesaler Mexcor International that owns an adjacent building and will occupy a portion of the campus.

April 1, 2022

Industrial Leasing Activity Texas

Distribution User Inks 376,000 SF Industrial Lease in Fort Worth’s Alliance Corridor

by Taylor Williams April 1, 2022

FORT WORTH, TEXAS — An undisclosed distribution user has signed a 376,000-square-foot industrial lease at North Quarter 35, a 645,000-square-foot development in Fort Worth’s Alliance Corridor. Owned by M2G Ventures, North Quarter 35 comprises four buildings in various stages of development. Seth Koschak, Forrest Cook and Brett Carlton of Stream Realty Partners, which also provides construction management services for the development, represented M2G Ventures in the lease negotiations. Mark Collins of Cushman & Wakefield represented the tenant.

April 1, 2022

Acquisitions Office Texas

Colliers Arranges Sale of 117,173 SF Office Building in Metro Dallas

by Taylor Williams April 1, 2022

ADDISON, TEXAS — Colliers has arranged the sale of a 117,173-square-foot office building located at 3939 Belt Line Road in the northern Dallas suburb of Addison. The seven-story building was fully leased at the time of sale to tenants such as Truist Bank and A&O Enterprises. Cody Payne of Colliers brokered the off-market transaction. Both the locally based seller and the buyer, a private investor specializing in multifamily acquisitions, requested anonymity.

April 1, 2022

Acquisitions Office Texas

DZMI Acquires 12-Story Office Building in Houston, Plans Renovation

by Taylor Williams April 1, 2022

HOUSTON — Locally based development and investment firm David Z. Mafrige Interests (DZMI) has acquired North Loop Center, a 12-story office building in Houston’s Heights neighborhood. The firm plans to implement a capital improvement program that will include an upgrade of the lobby and installation of LED lighting throughout the premises. Stream Realty Partners is the leasing agent for the property and recently executed a long-term lease for the entire 12th floor with design-build firm ARCO/Murray.

April 1, 2022

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 14,775 SF Industrial Lease Renewal in Fort Worth

by Taylor Williams April 1, 2022

FORT WORTH, TEXAS — Dallas-based brokerage firm Holt Lunsford Commercial has negotiated a 14,775-square-foot industrial lease renewal at 200 N. Vacek St. in Fort Worth. David Cason and Jake Neal with Holt Lunsford represented the tenant, Ambiance Textiles Inc., in the lease negotiations. The name and representative of the landlord were not disclosed.

April 1, 2022

Development Office Texas Top Stories

Carr Properties Breaks Ground on 43-Story Office Tower in Downtown Austin

by Julia Sanders April 1, 2022

AUSTIN, TEXAS — Carr Properties has broken ground on Block 16, a 43-story office tower in Austin. Carr Properties has chosen Austin-based Manifold Development as its local partner for the project. Block 16 will offer over 738,000 square feet of space. Building amenities will include a fitness facility, multiple meeting areas and food and beverage offerings. The development cost was not disclosed. Designed by Gensler, each floor will offer 10-foot, floor-to-ceiling windows and a virtually column-free workplace. Additionally, Carr Properties is planning to implement improved indoor air quality measures in order to maximize the health and wellness of the customers in the building. “I think we have a real opportunity to deliver a project of world-class design with incredible amenities that best meets the needs of today’s ever-changing work environment,” says Tyler Grooms, the president of Manifold. Located in downtown Austin, Block 16 is situated at the intersection of San Jacinto Boulevard, Trinity and Second streets. The project will offer easy access to the Central Business District, the Rainey Entertainment District and Lady Bird Lake Hike & Bike Trail. Block 16 is also close to the Austin Convention Center and the city’s future rail station. The project is currently available …

April 1, 2022

Development Multifamily Student Housing Texas

Treemont Partners Nears Completion of 446-Bed Student Housing Project Near Texas Tech University

by Taylor Williams March 31, 2022

LUBBOCK, TEXAS — Houston-based developer Treemont Partners is nearing completion of construction on The Carlton House, a 446-bed student housing project that will serve students at Texas Tech University in Lubbock. The Carlton House will feature a mix of one- and two-bedroom units and amenities such as two pools, a community kitchen and living room, fitness center, private and group study lounges, outdoor grilling and dining areas and a dog park. University Partners will lease and manage the project upon completion, which is slated for June.

March 31, 2022

Development Multifamily Texas

Castletop Capital, Trammell Crow Complete 373-Unit Multifamily Project in Austin

by Taylor Williams March 31, 2022

AUSTIN, TEXAS — A partnership between locally based investment and management firm Castletop Capital and Dallas-based developer Trammell Crow Co. has completed Korina at the Grove, a 373-unit apartment community in Austin. The property is situated within The Grove, a 450,000-square-foot mixed-use development in the central part of the city. Units feature one-, two- and three-bedroom floor plans, and amenities include a pool, business center, flex entertainment spaces, a dog park and a rooftop terrace. Dallas-based JHP Architecture served as the project architect, with interior design by Britt Design Group. Information on starting rents was not disclosed.

March 31, 2022

Acquisitions Multifamily Texas

IPA Arranges Sale of 344-Unit Heights of Cityview Apartments in Fort Worth

by Taylor Williams March 31, 2022

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Heights of Cityview, a 344-unit apartment community in southwest Fort Worth. Built on 22 acres in 1998, the property features one-, two- and three-bedroom units with an average size of 984 square feet. Amenities include multiple pools, a fitness center, clubhouse, pet park, package locker system and outdoor grilling areas. Drew Kile, Joey Tumminello, Michael Ware, Asher Hall, Taylor Hill and Will Balthrope of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

March 31, 2022

Webster-Medical-Office-&-Life-Sciences-Campus

Acquisitions Healthcare Life Sciences Texas

CBRE Brokers Sale of 94,506 SF Healthcare, Life Sciences Facility in Webster, Texas

by Taylor Williams March 31, 2022

WEBSTER, TEXAS — CBRE has brokered the sale of The Webster Medical Office & Life Sciences Campus, a two-building, 94,506-square-foot facility located in the southeastern Houston suburb of Webster. The campus was built between 2006 and 2008 and was fully leased at the time of sale. Biomedical conglomerate Catalent anchors the roster of 11 tenants with a 32,000-square-foot space, and other users include Centre for Neuro Skills (CNS), Texas Skin Center, Texas ENT, Arthritis Relief Centers and ProActive Physical Therapy Centers. Lee Asher, Chris Bodnar, Jordan Selbiger, Ryan Lindsley, Sabrina Solomiany, Zack Holderman and Brandy Bellow Spinks of CBRE represented the seller, a joint venture between Virtus Real Estate Capital and Lincoln Property Co., in the transaction. The buyer and sales price were not disclosed.

March 31, 2022

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