AUSTIN, TEXAS — Atlanta-based developer Cousins Properties will develop Domain 9, a 335,000-square-foot office building that will be located within The Domain, a mixed-used development on Austin’s north side. Total project costs are anticipated to be about $147 million. Cousins plans to break ground on Domain 9 in the second quarter and to deliver the building in mid-2023. The company’s current office portfolio within the Domain submarket spans 2.1 million square feet and is 98 percent leased.
IRVING, TEXAS — Caterpillar Inc., the Illinois-based manufacturer of construction and mining equipment, will open a new regional office at Williams Square, a 1.4 million-square-foot office campus in Irving. Caterpillar will occupy multiple floors at Williams Square West Tower, one of the campus’ four buildings, with a projected move-in date of early 2022. The square footage of the newly designed office space has not yet been determined. Bill Brokaw and Karch Schreiner internally represented the landlord, a partnership between Apollo Global Real Estate, Vanderbilt Partners and Hillwood Urban, in the lease negotiations. Ned Franke and Matt Heidelbaugh of Cushman & Wakefield represented Caterpillar.
DALLAS — California-based Fenway Capital Advisors has acquired Campbell Centre, a 322,283-square-foot office building located at 8150-8350 N. Central Expressway in Dallas. The 20-story property was originally built in 1978 and was renovated in 1999 and 2009. Amenities include a 6,000-square-foot fitness center with locker rooms, a 70-seat conference facility, deli and a tenant lounge. Fenway Capital Advisors plans to modernize the interior of the building. The seller was not disclosed.
THE WOODLANDS, TEXAS — Tampa-based investment firm American Landmark has purchased Pine Creek Ranch, a 240-unit apartment community located about 30 miles north of Houston in The Woodlands. Built in 2005, the property features one- and two-bedroom units with granite countertops, walk-in closets and individual washers and dryers. Amenities include a pool, resident clubhouse, tennis court and an outdoor picnic area. The seller was not disclosed. American Landmark, which now owns 41 properties in Texas and 17 in the Houston area, will invest $2.7 million in capital improvements and rebrand the community as Stone Creek at The Woodlands.
HOUSTON — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.5 million loan for the refinancing of a 65-unit multifamily property in Houston. The loan was structured with a fixed 3.45 percent interest rate, a 10-year term and three years of interest-only payments. Jamie Safier of MMCC arranged the financing on behalf of the undisclosed borrower. The property name and direct lender were also not disclosed.
AUSTIN, TEXAS — Minneapolis-based Ryan Cos. will develop a 350-unit apartment community within the Mueller District, the 700-acre site of a former airport in Austin. The project will include 2,500 square feet of retail space, and 15 percent of the units will be reserved for renters earning 60 percent or less of the area median income. Details about the development’s floor plans and amenities were not released. Construction is expected to begin in the fourth quarter.
HOUSTON — Colliers International has brokered the sale of World Houston Plaza, a 216,889-square-foot office building located at 15710 John F. Kennedy Blvd. on the city’s north side. The eight-story building was originally constructed on a 3.5-acre lot in 1985. David Carter of Colliers represented the undisclosed seller in the transaction. The buyer, David Z. Mafrige Interests, purchased the asset via a Ten-X auction for an undisclosed price.
HOUSTON — The Montrose Center (TMC), a locally based owner-operator that offers health, mental wellness, education and housing services for Houston’s LGBTQ community, has opened Law Harrington Senior Living Center, a 112-unit independent living facility in Houston. The project, valued at $26.5 million, is currently the largest LGBTQ-affirming seniors housing community in the United States and the only one in Texas, according to TMC. Units are available in one- and two-bedroom formats and are reserved for low-income renters age 62 and above. TMC is holding a grand opening this summer for Law Harrington, but move-ins are already underway. Amenities and services include recreational programs and a dog park. Additionally, TMC is partnering with Legacy Community Health to offer Law Harrington residents medical care onsite, including services for seniors living with HIV.
ROUND ROCK, TEXAS — NorthMarq has arranged a $5 million acquisition loan for a 38,024-square-foot industrial flex property in Round Rock, a northern suburb of Austin. The property was fully leased to two medical and diagnostic lab users at the time of the loan closing. Chase Johnson of NorthMarq arranged the loan through life company StanCorp on behalf of the undisclosed borrower. The seller was also undisclosed.
FORT WORTH, TEXAS — Bighorn Construction & Reclamation has signed a 36,331-square-foot office lease extension at 777 Main in Fort Worth. The 40-story building was originally constructed in 1983. Transwestern’s Whit Kelly and Dallas Margeson represented the landlord, Brookdale Group, in the lease negotiations. The representative of the tenant was not disclosed.