MCKINNEY, TEXAS — Dallas-based Younger Partners Investments has acquired 380 Towne Crossing, a 137,287-square-foot shopping center in McKinney. The center, which was 98 percent leased at the time of sale, was built in 2007 at the northwest corner of US Highway 75 and State Highway 380. Tenants include FedEx Office, Buffalo Wild Wings, Leslie’s Pool Supplies, Cook Children’s Pediatrics, Storming Crab, Jimmy John’s and Mattress Firm. Development firm Weber & Co. was the seller.
WAXAHACHIE, TEXAS — A partnership between Denver-based Quannah Partners and Dallas-based VaultCap Partners has sold The Townhomes at Bluebonnet Trails, a 114-unit multifamily property located in the southern Dallas suburb of Waxahachie. The property offers three- and four-bedroom residences with private patios/balconies as well as various outdoor amenities. Eric Stockley, Taylor Snoddy and Charles Hubbard of Northmarq arranged the sale of the property. The buyer and sales price were not disclosed.
BAYTOWN, TEXAS — Stream Realty Partners has negotiated an 88,732-square-foot industrial lease in the eastern Houston suburb of Baytown. The building at 2300 East Freeway is located within the 3 million-square-foot Port 10 Logistics Center. Tyler Maner and Tommy Erwin of Stream represented the tenant, soap and bath products provider MMM Enterprises, in the lease negotiations. Richard Quarles, David Holland, Joseph Berwick and Eliza Klein of JLL represented the landlord, Pontikes Development.
DALLAS — Global private equity firm KKR has provided $95 million in financing for the 255-room Marriott Uptown Dallas hotel. The financing consists of $87.5 million in initial loan proceeds used to replace the property’s outstanding debt, as well as two future-funded earnout facilities that provide potential access to $7.5 million in additional capital. Completed in early 2021, the 14-story hotel is located at 3033 Fairmount St. and features a rooftop pool, lounge, ground-floor restaurant and 13,000 square feet of meeting and event space. A partnership between NexPoint Diversified Real Estate Trust (NYSE: NXDT) and Alamo Manhattan owns the hotel.
SCHERTZ, TEXAS — Atlanta-based developer Ackerman & Co., in partnership with Baltisse US Inc., has sold Doerr Lane Logistics Center, a 307,000-square-foot industrial project in Schertz, a northeastern suburb of San Antonio. Completed in August 2023, the Class A, tilt-wall distribution center features 32-foot clear heights, 78 overhead dock doors, an ESFR sprinkler system and parking for 318 automobiles and 96 trailers. Trent Agnew, Kyle Mueller and Witt Westbrook of JLL represented the partnership in the sale. The buyer was not disclosed. Doerr Lane Logistics Center was fully leased at the time of sale to MEI Rigging & Crating (191,297 square feet) and Quality Custom Distribution (115,703 square feet).
SULPHUR SPRINGS, TEXAS — Marcus & Millichap has brokered the sale of the 70-room Hampton Inn Sulphur Springs hotel, located about 90 miles northeast of Dallas. Built on 2.5 acres in 2010, the hotel features an outdoor pool, fitness and business centers, onsite retail space, a breakfast area and 600 square feet of meeting and event space. Skyler Cooper of Marcus & Millichap represented the seller, Cox Hospitality Group, in the transaction. Cooper also procured the buyer, a Texas-based private investor, in conjunction with Allan Miller and Chris Gomes of Marcus & Millichap.
HOUSTON — Metro Philadelphia-based CenterSquare Investment Management has purchased Windermere Village, a 31,355-square-foot retail property in northwest Houston. The center is home to tenants such as Tropical Smoothie Café, Pure Barre, The Joint Chiropractic, Marco’s Pizza and Edible Arrangements. In addition, 85°C Bakery Café and Flying Biscuit Café have will soon open eateries at Windermere Village. The seller and sales price were not disclosed.
ARLINGTON, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of Windsor Terrace Center, a 16,767-square-foot retail strip center in Arlington. According to LoopNet Inc., the center was built on 2.2 acres in 1986. Hudson Lambert and Harrison Beethe from STRIVE brokered the deal. The buyer and seller were not disclosed. Windsor Terrace Center was fully leased at the time of sale to tenants such as Subway, State Farm and McCullar’s Irish Pub.
DALLAS — Colorado-based investment firm Real Capital Solutions has purchased Tower at Park Lane, a 509,818-square-foot office building in North Dallas, for $66 million. The 20-story building, which includes a six-story attached parking garage, is located at 8750 N. Central Expressway and is home to tenants such Texas A&M University—Commerce, Match.com and Topgolf. Russell Ingrum and Patrick Benoist with CBRE brokered the deal. The seller was not disclosed. The deal marks the first Dallas office acquisition for Real Capital Solutions, which plans to invest about $13 million in capital improvements to the building, including upgrades to the lobby and fitness center and the addition of speculative suites. Lincoln Property Co. has been tapped as the leasing agent.
LAREDO, TEXAS — A joint venture between Indianapolis-based developer Scannell Properties and Atlanta-based Invesco Real Estate has broken ground on a 586,667-square-foot industrial project in the Rio Grande Valley city of Laredo. The project represents the second phase of a larger development known as Laredo Logistics Crossing and will comprise two buildings totaling 327,600 and 259,067 square feet. Combined, the buildings will offer parking for 508 cars and 243 trailers. Phase II is slated for a fourth-quarter completion. Scannell completed the 401,100-square-foot initial phase of Laredo Logistics Crossing in May 2023 and subsequently sold the property to Invesco.