ROUND ROCK, TEXAS — The NRP Group, a Cleveland-based multifamily developer, has broken ground on The James on Grand Avenue, a 275-unit affordable housing project in the northern Austin suburb of Round Rock. All of the property’s units will be reserved for renters earning 60 percent or less of the area median income. The James on Grand Avenue will feature one-, two-, three- and four-bedroom units and amenities such as a pool, business center children’s play area and a fitness center. Residents will also have access to services such as first-time homebuyer programs, financial literacy training and after school care. Leasing is expected to begin next August, with full completion scheduled for June 2023. NRP Group is developing the project in partnership with Capital Area Housing Finance Corp.
CARROLLTON, TEXAS — NAI Robert Lynn has negotiated a 162,000-square-foot industrial lease expansion at 4717 Plano Parkway in the northern Dallas suburb of Carrollton. The deal essentially triples the Dallas-area footprint of the tenant, third-party logistics firm JB Hudco, to 240,000 square feet. Chad Albert of NAI Robert Lynn represented JB Hudco in the lease negotiations. George Billingsley represented the landlord, Billingsley Co., on an internal basis.
TULSA, OKLA. — Aristocrat Gaming, a manufacturer of slot machines and similar products, has signed a 137,500-square-foot lease for its new headquarters at 15336 E. Admiral Place in Tulsa. The property is under construction, with the warehouse component scheduled for completion this winter and the office component slated for a summer 2022 delivery. Dwayne Flynn and Ryan Shaffer of CBRE represented Aristocrat Gaming and the landlord, Tulsa-based Miller Investments & Properties, in the lease negotiations.
FORT WORTH, TEXAS — Stream Realty Partners has arranged a 67,095-square-foot industrial lease at North Quarter 35, a four-building, 645,000-square-foot development located in the Alliance submarket of Fort Worth. Seth Koschak, Forrest Cook and Brett Carlton of Stream Realty Partners represented the landlord, North Texas-based M2G Ventures, in the lease negotiations. The tenant was Prickly Pear Skin Care LLC.
EAGLE LAKE, TEXAS — Provider Nexion Health has opened Eagle’s Landing, a memory care community within its Arbor Hills Rehabilitation and Healthcare Center in Eagle Lake, approximately 70 miles west of Houston. The asset offers 20 units. The Arbor Hills Rehabilitation and Healthcare Center was one of nine Texas facilities that Nexion Health took over the operations of in December 2020.
DALLAS — California-based REIT PS Business Parks Inc. (NYSE: PSB) has acquired Port America, a 717,735-square-foot industrial development in Dallas, for $123 million. Port America, which is located near Dallas-Fort Worth International Airport, consists of eight buildings that were 96 percent leased at the time of sale. The average tenant suite is 8,000 square feet. The seller was not disclosed.
WILLIS, TEXAS — Texas-based investment and development firm Fidelis has begun construction on The Market at Willis, a 69.7-acre mixed-use project in Willis, located about 50 miles north of Houston. Construction of Phase I will consist of a 200,000-square-foot shopping center that will be anchored by regional grocer H-E-B. Construction of Phase II, which is scheduled to begin in the third quarter of next year, will add more retail and restaurant space and a 250-unit multifamily community. Phase I is expected to open some time in 2022.
ARLINGTON, TEXAS — Dallas-based Darwin German Real Estate Investments has sold Brookside Apartments, a 288-unit multifamily community in Arlington. According to Apartments.com, the property was built in 1983 and offers one- and two-bedroom units ranging in size from 650 to 990 square feet. Amenities include a pool, clubhouse, business center, fitness center, a playground and outdoor grilling stations. The buyer and sales price were not disclosed.
STAFFORD, TEXAS — Chempak International, a locally based logistics firm, has signed a 156,726-square-foot industrial lease within Weatherford Industrial Park in the southwestern Houston suburb of Stafford. Anthony Squillante, Drew Coupe and Josh Morrow of Avison Young represented the tenant, which plans to take occupancy of the space early next year, in the lease negotiations. Walter Menuet, Barkley Peschel and Jason Scholtz of Colliers International represented the landlord, Crow Holdings.
DALLAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 79,359-square-foot industrial lease renewal at 5200 E. Grand Ave. in East Dallas. Josh Barnes and Canon Shoults with Holt Lunsford Commercial represented the landlord, City Warehouse, in the lease negotiations. Buddy Turner with Avison Young represented the tenant, Peachtree Stair Co. Inc.