Texas

Diab Americas Signs 265,248 SF Headquarters Lease in DeSoto, Texas

by Taylor Williams October 12, 2021

DESOTO, TEXAS — Diab Americas LP, a Swedish manufacturer of core products for the marine and aerospace industries, has signed a 265,248-square-foot headquarters lease at I-20 Corporate Center in the southern Dallas suburb of DeSoto. The headquarters location consists of 242,248 square feet of warehouse space and 23,000 square feet of office space. Kevin Santaularia, Michael Spain and Michael Grant of Bradford Commercial Real Estate Partners represented the locally based landlord, 220 E. Danieldale Partners, in the lease negotiations. The tenant plans to take occupancy of the space in November.

October 12, 2021

Acquisitions Multifamily Texas

West Shore Acquires 322-Unit Sovereign Apartments in North Fort Worth

by Taylor Williams October 12, 2021

FORT WORTH, TEXAS — Boston-based multifamily investment firm West Shore LLC has acquired The Sovereign, a 322-unit apartment community in North Fort Worth. The property, which according to Apartments.com was built in 2015, offers one-, two- and three-bedroom units. Amenities include a pool, outdoor kitchen, dog park, fitness center, clubhouse and an auto detailing center. The seller and sales price were not disclosed. West Shore now owns and operates about 11,000 units across seven states following this acquisition.

October 12, 2021

Acquisitions Industrial Texas

Fort Capital Buys 49,441 SF Industrial Complex in Northeast San Antonio

by Taylor Williams October 12, 2021

SAN ANTONIO — Fort Worth-based investment firm Fort Capital has purchased a 49,441-square-foot industrial complex at 14309 Toepperwein Road in San Antonio. The Class B facility features 37 suites ranging in size from 799 to 3,120 square feet and is located about 1.2 miles from Interstate 35 on the city’s northeast side. The seller and sales price were not disclosed.

October 12, 2021

Acquisitions Retail Texas

RealSource Brokers Sale of 47,000 SF Retail Building Leased to LA Fitness in Metro Houston

by Taylor Williams October 12, 2021

RICHMOND, TEXAS — RealSource Group has brokered the sale of a 47,000-square-foot retail building leased to LA Fitness in Richmond, located southwest of Houston. The newly constructed building is located within the 525,000-square-foot Waterview Town Center, which is across the street from an Amazon distribution center and in front of a 300-unit apartment community. Austin Blodgett of RealSource, in conjunction with brokerage firm ParaSell Inc. represented the Houston-based seller in the transaction. Blodgett and ParaSell also represented the buyer, a private partnership based in Texas.

October 12, 2021

Data Centers Development Industrial Texas

Rowan Green to Develop $300M Hyperscale Data Center Campus in Temple, Texas

by Taylor Williams October 11, 2021

TEMPLE, TEXAS — Rowan Green Data, a data center developer and infrastructure provider with offices in Houston and Portland, will develop a $300 million hyperscale campus in the Central Texas city of Temple. The project will span approximately 135,000 square feet and have a power capacity of about 500 megawatts. In the data center space, the amount of electricity needed to power the servers and cool the equipment is the highest variable cost; as such, the size of data center deals is frequently measured by the consumption of megawatts rather than square footage. All factors being held equal, one megawatt of energy is enough to power 500 or so homes for a full year. The facility, whose hyperscale designation indicates that it will be marketed to large tech companies with heavy cloud-based operations, will be constructed in two phases on a 32-acre site. Construction of the first phase is slated for a summer-2022 delivery, and full completion is scheduled for 2023.

October 11, 2021

Acquisitions Multifamily Texas

S2 Capital Buys 1,893-Unit Multifamily Portfolio in Dallas-Fort Worth, Austin

by Taylor Williams October 11, 2021

DALLAS — Locally based investment firm S2 Capital has purchased a portfolio of four multifamily properties totaling 1,893 units, including three in the Dallas-Fort Worth (DFW) metroplex and one in Austin. The properties are: Hyde Park at Montfort in Dallas (662 units); Twin Creeks Crossing I (347 units) and Twin Creeks Crossing II in Allen (330 units); and Tintara at Canyon Creek in Austin (554 units). Taylor Snoddy, James Roberts and Philip Wiegand of NorthMarq represented the undisclosed seller in the transaction. Jeff Erxleben, Lauren Bresky, Kevin Leamy and Loren Heikenfeld, also with NorthMarq, arranged an undisclosed amount of floating-rate debt on behalf of S2 Capital. The new ownership plans to invest in capital improvements to Tintara at Canyon Creek and Hyde Park at Montfort.

October 11, 2021

Development Office Texas

Fenway Capital, Waterfall to Redevelop 878,564 SF Campbell Centre Office Complex in Dallas

by Taylor Williams October 11, 2021

DALLAS — A partnership between Dallas- and California-based Fenway Capital Advisors and New York-based Waterfall Asset Management will redevelop Campbell Centre, an 878,564-square-foot office complex in Dallas. The two-building property, which will be renamed The Gild, was originally built in the 1970s and is located in the North Central Expressway submarket. The project will add new tenant lounges, a boutique café and new coffee bars and dining areas, as well as a new conference center. In addition, the development team will update restrooms and corridors, expand tenant suites and develop a connecting park between the two buildings. Gensler is designing the project, and Stream Realty Partners is the leasing agent. Renovations are scheduled to begin immediately, and full completion of the project is slated for the first quarter of 2023.

October 11, 2021

Acquisitions Multifamily Texas

Newmark Arranges Sale of 316-Unit Estates at Bee Cave Apartments in Metro Austin

by Taylor Williams October 11, 2021

BEE CAVE, TEXAS — Newmark has arranged the sale of Estates at Bee Cave, a 316-unit multifamily property in the Austin area. Units feature one-, two- and three-bedroom floor plans and are furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, business center, game room, cyber lounge and a demonstration kitchen. Patton Jones and Andrew Dickson of Newmark represented the seller, Internacional, in the transaction. The buyer was an affiliate of New York City-based Abacus Capital Group.

October 11, 2021

Acquisitions Multifamily Texas

Oldham Goodwin Sells 250-Unit Multifamily Property in Portland, Texas

by Taylor Williams October 11, 2021

PORTLAND, TEXAS — Oldham Goodwin Group, a Texas-based development, management and brokerage firm, has sold Palm Bluff Place, a 250-unit multifamily property in the Corpus Christi suburb of Portland. Oldham Goodwin completed the project in 2017. Units are available in one-, two- and three-bedroom floor plans; range in size from 705 to 1,313 square feet; and feature stainless steel appliances, granite countertops and wood-style flooring. Amenities include a pool, fitness center, outdoor kitchen and grilling stations and a resident lounge/clubhouse. The buyer was an undisclosed institutional private equity group.

October 11, 2021

Company News Texas

Tesla to Relocate Headquarters from Palo Alto, California to Austin

by Taylor Williams October 8, 2021

AUSTIN, TEXAS — Tesla (NYSE: TSLA) will relocate its headquarters from Palo Alto, California, to Austin, CEO Elon Musk announced at a company shareholder meeting on Thursday night. Information on where the company’s new headquarters office will be located and when the move will commence was not immediately available. The electric vehicle manufacturer announced in July 2020 that it had selected a development site near Austin-Bergstrom International Airport for its $1 billion Gigafactory. Vehicle production at the Gigafactory, which will span more than 2,500 acres and employ some 7,000 people, is expected to begin in 2022. Musk’s other signature company, SpaceX, operates a rocket production facility and test site near the South Texas city of Brownsville. In explaining the move, Musk cited rising home prices and lengthy commute times for employees as primary deterrents to the company continuing to operate out of the Silicon Valley. Tesla joins Oracle and Digital Realty Trust as one of the latest major tech firms to announce a relocation from the Bay Area to the Texas state capital. The stock price of Tesla, which was founded in 2003, opened at $785.46 per share on Friday, Oct. 8, following the breaking of the news. The company’s …

October 8, 2021

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