Texas

Walton Street Capital Acquires 180-Unit Multifamily Community in Dallas

by Taylor Williams September 14, 2021

DALLAS — An affiliate of Chicago-based Walton Street Capital LLC has purchased The Gentry on M Streets, a 180-unit apartment community located in the Lower Greenville neighborhood of Dallas. The seller and sales price were not disclosed. Built in 2015, Gentry features a mix of studio, one- and two-bedroom units that were 97 percent occupied at the time of sale. Interiors include granite countertops, stainless steel appliances, in-unit washers and dryers and balconies or private yards for select units. Community amenities include an outdoor kitchen and lounge, resort-style pool, 24-hour fitness center and a conference room. Located at 3736 Glencoe St., Gentry is located adjacent to Southern Methodist University and features direct access to Glencoe Park and the Katy Trail.

September 14, 2021

Acquisitions Industrial Texas

Colliers Arranges Sale of 60,500 SF Industrial Flex Property in Burleson, Texas

by Taylor Williams September 14, 2021

BURLESON, TEXAS — Colliers International has arranged the sale of Weatherby Business Park, a 60,500-square-foot industrial flex property located in the Fort Worth suburb of Burleson. The property was built in 2008 and was fully leased at the time of sale. Cody Payne, Austin Edelmon and Michael Tran of Colliers represented the seller and procured the buyer, both of which were private investors that requested anonymity.

September 14, 2021

Industrial Leasing Activity Texas

Arrive Logistics Signs Industrial Lease Extension, Expansion at MetCenter in Austin

by Taylor Williams September 14, 2021

AUSTIN, TEXAS — Arrive Logistics, a locally based freight brokerage firm, has signed a lease extension and expansion at MetCenter Business Park in Austin. The privately held company renewed its 78,000 square feet of space within Buildings 14 and 15 at MetCenter and also leased an additional 38,000 square feet within Building 15. Other tenants at MetCenter, which is owned by Dallas-based Mohr Capital, include Amazon, Ascension Seton, Texas Health & Human Services Commission and Power Home Remodeling.

September 14, 2021

Acquisitions Hospitality Texas

NewcrestImage Acquires 164-Room Sinclair Hotel in Downtown Fort Worth

by Taylor Williams September 14, 2021

FORT WORTH, TEXAS — Locally based hospitality investment firm NewcrestImage has acquired the 164-room Sinclair Hotel in downtown Fort Worth. The 17-story luxury property is part of the Marriott Autograph Collection of hotel brands and features multiple food and beverage concepts. The seller and sales price were not disclosed.

September 14, 2021

Sky-Landing-Apartments-White-Settlement-Texas

Market Reports Multifamily Texas Texas Market Reports

Dallas Multifamily Market Sets Pace for National Recovery

by Taylor Williams September 14, 2021

By Jon Krebbs, managing director, The Multifamily Group The COVID-19 crisis has certainly had a heavy impact on many sectors of the economy; however, the multifamily sector still has had a triumphant year. The Dallas apartment sector has maintained healthy occupancy in 2021, and the investment side of the market is picking up due to buyers having constrained capital during the height of the public health crisis in 2020. Dallas-Fort Worth (DFW) has benefited from major corporate relocations since the 1980s. Over the last decade, corporate interest has expanded and that brought multiple Fortune 500 companies’ headquarters to the region due to its pro-business conditions. It is no wonder why the market is on the radar of C-suite leaders and governing boards — its favorable workforce, affordable cost of housing, lack of state income tax and steady supply of new apartment buildings are all factors. Simply put, apartment investors regard DFW as an opportunity for growth. Between 2019 to 2020, approximately 120,000 people from outside the metroplex have been added to the local population. This number has substantially increased over the last two years due to COVID-19. Market Overview The Dallas multifamily market has been hot for the last seven …

September 14, 2021

Development Industrial Texas

Trammell Crow Breaks Ground on Phase I of 130-Acre Weiser Business Park in Northwest Houston

by Taylor Williams September 13, 2021

HOUSTON — Trammell Crow Co. (TCC) has broken ground on Phase I of Weiser Business Park, a speculative industrial redevelopment project located at the site of a former airport in northwest Houston. The first phase of the 130-acre development will center on the delivery of three buildings totaling 557,490 square feet. The first and smallest building will feature 28-foot clear heights and 128 vehicle parking spaces. The second and third buildings will both span more than 200,000 square feet and offer 32-foot clear heights while also having nearly 500 combined parking spaces. Completion of Phase I is scheduled for the second quarter of 2022. TCC has tapped Lee & Associates to lease the buildings. Construction of a fourth building that will span approximately 520,000 square feet and have 36-foot clear heights is set to begin early next year.

September 13, 2021

Acquisitions Office Texas

Partners Group, Accesso Sell 505,948 SF Royal Ridge Office Campus in Irving’s Las Colinas District

by Taylor Williams September 13, 2021

IRVING, TEXAS — Switzerland-based global investment firm Partners Group and Florida-based Accesso have sold Royal Ridge, a 505,948-square-foot office campus in Irving’s Las Colinas district, for an undisclosed price. Royal Ridge is a four-building campus that was constructed between 1998 and 2000. Tenants at the property, which has averaged a historical occupancy rate of about 94 percent during its life span, include Michaels and Honda. Todd Savage and Andrew Levy of JLL represented the partnership in the sale of the property to affiliates of Menlo Equities.

September 13, 2021

Industrial Leasing Activity Texas

Newmark Negotiates 181,067 SF Industrial Lease Extension in Houston

by Taylor Williams September 13, 2021

HOUSTON — Newmark has negotiated a 181,067-square-foot industrial lease extension at Building 11 within Central Green Business Park in Houston. John Luck, Griffin Rich, Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, Joshua Brown and Trace Elrod of Newmark represented the tenant, GAC Energy & Marine Services, in the lease negotiations. Liberty Property Co. owns the facility.

September 13, 2021

Acquisitions Industrial Texas

JLL Brokers Sale-Leaseback of 166,000 SF Industrial Facility in East San Antonio

by Taylor Williams September 13, 2021

SAN ANTONIO — JLL has brokered the sale-leaseback of a 166,000-square-foot industrial facility located at 5003 Stout Drive on San Antonio’s east side. The property was built in 1985 and renovated in 2019. Building features include 22.5-foot clear heights, 93 parking stalls and a 21 percent office finish. Dustin Volz, Stephen Bailey, Dom Espinosa, Joshua Villarreal and Matthew Barge of JLL represented the seller and occupant, graphic design and custom manufacturing firm Comet Signs, in the transaction. The buyer/landlord was not disclosed.

September 13, 2021

Acquisitions Net Lease Retail Texas

Boulder Group Arranges $2.4M Sale of Net-Leased Retail Property in Taylor, Texas

by Taylor Williams September 13, 2021

TAYLOR, TEXAS — The Boulder Group, an Illinois-based retail brokerage firm, has arranged the $2.4 million sale of a 6,912-square-foot retail property that is net-leased to Advance Auto Parts in Taylor, located northeast of Austin. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private investor based in the Southwest, in the transaction. The undisclosed, West Coast-based buyer completed the deal via a 1031 exchange.

September 13, 2021

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