DALLAS — A partnership between Los Angeles-based CIM Group and Open Realty Advisors has sold a portfolio of 15 single-story retail buildings totaling 124,000 square feet in the Knox-Henderson neighborhood of Dallas. The sale, which according to Culture Map Dallas fetched a price of $85.4 million, included a 4.3-acre parcel that can support up to 160,000 square feet of new development. The tenant roster encompasses retailers such as Sprouts Farmers Market, Warby Parker, Bonobos, CorePower Yoga and Heyday Skincare, as well as an array of food and beverage users. Ryan Shore, Chris Gerard, Barry Brown, Erin Lazarus and Beth Copeland of JLL represented the partnership in the transaction. New York-based Acadia Realty Trust purchased the portfolio.
EULESS, TEXAS — Los Angeles-based ShainRealty Capital has acquired The Landing, a 267-unit apartment community in Euless, located in the central part of the Dallas-Fort Worth metroplex. Built in 1983, the property features one- and two-bedroom units with an average size of 770 square feet and amenities such as a pool, fitness center and a playground. Arlington-based 180 Multifamily Properties sold the community for an undisclosed price. Bard Hoover and Wes Racht of Marcus & Millichap brokered the deal. Miami-based Rialto Capital provided acquisition financing on behalf of ShainRealty Capital, which plans to implement a $3 million value-add program and rebrand the property as Infinity on the Landing.
HOUSTON — Dallas-based StreetLights Residential, in partnership with El Paso-based Hunt Cos., will develop The Langley, a 134-unit apartment complex that will be located at 1717 Bissonet St. in Houston. The location is near Rice University on the city’s southwest side. The Langley will feature two- and three-bedroom units. Amenities will include a pool, fitness center, coworking spaces, a coffee lounge, 24-hour concierge and valet services and a full resident bar. Construction slated to begin in November and to be complete in 2025.
DALLAS — Tax advisory firm Grant Thornton has signed a 24,600-square-foot office lease at Ross Tower in downtown Dallas. The 45-story building houses a food hall, fine dining restaurant Dakota’s Steakhouse and a Starbucks, as well as built-in conference facilities and a tenant lounge. Travis Boothe and Robbie Baty of Cushman & Wakefield represented Grant Thornton in the lease negotiations. Hunter Lee, Ben Cuzen and Luke Aviles represented the landlord, HPI Real Estate Services & Investments, on an internal basis.
CELINA, TEXAS — Centurion American Development Group has broken ground on Legacy Hills, a mixed-use, master-planned development that will span approximately 3,200 acres in the North Texas city of Celina. The site is located at the corner of Legacy Drive and Celina Parkway, about 40 miles north of downtown Dallas. Legacy Hills will feature more than 10,000 residential units, with current plans calling for about 7,000 single-family homes and 4,100 multifamily units. The commercial component will encompass 100 acres and will include retail, restaurant and entertainment space, though other uses within that portion of the project have not yet been announced. In addition, Centurion American has earmarked two 12-acre parcels as future sites of schools within the Celina Independent School District, as well as two seven-acre tracts that will house fire and police stations. A network of hiking and biking trails will link various pieces of the development, and Centurion has allocated 27 acres for the City of Celina to develop into a sports park. Lastly, a championship golf course, complete with a driving range, putting green and clubhouse, will run through the center of the site. The single-family homes will be spread across seven subdivisions, each of which will …
HOUSTON — Tampa-based multifamily investment firm American Landmark has acquired H6, a 293-unit apartment community in Houston’s Energy Corridor area. Built in 2016, the property offers one- and two-bedroom units ranging in size from 475 to 1,444 square feet. Apartments feature stainless steel appliances, European cabinetry, granite countertops, washers and dryers and private balconies. Amenities include a pool, fitness center, game room, business center and a Zen garden. The seller was not disclosed. American Landmark has subsequently rebranded the community as Neo at Ten.
PASADENA, TEXAS — NAI Partners has negotiated a 295,134-square-foot industrial lease at Bayport South Business Park, which is located near Port Houston in Pasadena. According to propertyshark.com, the development was built on 41.5 acres in 2020 and totals 642,994 square feet. Chris Haro of NAI Partners represented the tenant, freight transit company Frederick Trucking, in the lease negotiations. Richard Quarles, March Nicholas and Jarret Venghaus of JLL represented the undisclosed landlord.
MCKINNEY, TEXAS — Metro Philadelphia-based investment firm Morgan Properties has purchased parcHaus at Skyline, a 136-unit single-family rental community located on the northern outskirts of Dallas in McKinney. The newly built community features one-, two- and three-bedroom homes with garages and private backyards. The amenity package comprises a pickleball court, pool, dog park and a business center. Dallas-based Provident Realty Advisors sold the property for an undisclosed price. Morgan Properties has rebranded the community as Elevate at Skyline.
MOORE, OKLA. — SRS Real Estate Partners has arranged the $10 million sale of a 53,872-square-foot shopping center in Moore, a southern suburb of Oklahoma City. The property was built on 5.5 acres in 2018 and was 93 percent leased at the time of sale to tenants including Ulta Beauty and Burlington. Chris Tramontano and Aaron Johnson of SRS represented the seller, an entity doing business as BlueCiel Oklahoma LLC. Agree Realty, a publicly traded REIT, purchased the asset.
FORT WORTH, TEXAS — Locally based developer The Woodmont Co. has broken ground on a 41,217-square-foot medical office building in Fort Worth. The Diabetic & Thyroid Center of Fort Worth will occupy 14,000 square feet of the property, which was designed by Bennett Benner Partners and will be built by Dennett Construction. The site includes an additional pad site for development and lease. Construction is slated for a January 2023 completion. Dodson Commercial Real Estate has been tapped to lease the remaining space.