Wednesday, October 2, 2024
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121-Commerce-Center-Grapevine
DevelopmentIndustrialLoansTexas

GTIS Partners Breaks Ground on 272,160 SF Industrial Project Near DFW Airport

by Taylor Williams

GRAPEVINE, TEXAS — New York City-based development and investment firm GTIS Partners has broken ground on 121 Commerce Center, a 272,160-square-foot industrial project located near Dallas-Fort Worth International Airport in Grapevine. The site spans 17 acres, and the facility will feature 36-foot clear heights, 135-foot truck court depths, an ESFR sprinkler system and build-to-suit office space. Construction is scheduled to be complete before the end of the year. Stream Realty Partners has been appointed as the leasing agent. First Citizens Bank provided $24.5 million in financing for the project.

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Post-Oak-Logistics-Park
IndustrialLeasing ActivityTexas

Festival Trading Co. Signs 168,193 SF Industrial Lease in Southwest Houston

by Taylor Williams

HOUSTON — Festival Trading Co. has signed a 168,193-square-foot industrial lease in southwest Houston. The provider of indoor and outdoor furniture is taking the entirety of Building A at Post Oak Logistics Park, a 43-acre development that is under construction and consists of two buildings totaling 536,992 square feet. North Texas-based Jackson-Shaw is developing Post Oak Logistics Park, which is now 31 percent preleased, in partnership with Greystar. Beau Kaleel and Michael Foreman of Cushman & Wakefield represented ownership in the lease negotiations. Young Ni with Pinnacle Real Estate Group represented the tenant.

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AcquisitionsIndustrialTexas

Pagewood Acquires 102,100 SF Industrial Property in West Houston

by Taylor Williams

HOUSTON — Locally based investment firm Pagewood has acquired Georgibelle Business Park, a 102,100-square-foot industrial property in West Houston. The property comprises nine buildings that range in size from 3,798 to 16,800 square feet on a 4.5-acre site. Nick Spearman represented Pagewood in the transaction on an internal basis. Justin Patchen represented the seller, Buffalo Real Estate Partners, also on an internal basis. Texas First Bank provided acquisition financing for Pagewood, which plans to implement a value-add program at the park.

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AcquisitionsOfficeTexas

Bradford Commercial Arranges Sale of 5,130 SF Office Building in Garland, Texas

by Taylor Williams

GARLAND, TEXAS — Locally based brokerage firm Bradford Commercial Real Estate Services has arranged the sale of a 5,130-square-foot office building in the northeastern Dallas suburb of Garland. The building at 1014 Main St. was constructed in 1985 and renovated in 2021. Kyle Espie and Brian Pafford of Bradford represented the seller, Exchange Resource Group LLC, in the transaction. Bob Charles of Texas Premier Realty represented the buyer, Involved for Life Inc., a Dallas-based women’s healthcare ministry.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 564-Unit Self-Storage Facility in Midlothian, Texas

by Taylor Williams

MIDLOTHIAN, TEXAS — Marcus & Millichap has brokered the sale of Lakeridge Self Storage, a 564-unit facility located in the southern Dallas suburb of Midlothian. The property, which totals 59,517 net rentable square feet, was built in 2005 and expanded by roughly 20 percent in recent years. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a locally based private investor, in the deal. The duo also procured the buyer, an Austin-based investment group that plans to renovate the facility.

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35-Beltway-Business-Park-Houston
IndustrialLeasing ActivityTexas

CBRE Negotiates 273,480 SF Industrial Lease in Southeast Houston

by Taylor Williams

HOUSTON — CBRE has negotiated a 273,480-square-foot industrial lease within Beltway 35 Business Park in southeast Houston. The tenant, global shipping and logistics firm Wallenius Wilhelmsen, is taking space at Building 2, a cross-dock facility that features 48 dock doors and parking for 245 cars and 72 trailers. Quinten Davis and Hoan Le of CBRE represented the tenant in the lease negotiations. JLL represented the landlord, Greystar Real Estate Partners.

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SouthTech-Business-Center-Austin
AcquisitionsIndustrialTexas

KBS Sells 260,112 SF Light Industrial Property in South Austin

by Taylor Williams

AUSTIN, TEXAS — California-based investment firm KBS has sold SouthTech Business Center, a 260,112-square-foot light industrial property in South Austin. SouthTech Business Center consists of four buildings on a 20.2-acre site. Each building features 21-foot clear heights and 145-foot truck court depths. Trent Agnew, Charles Strauss, Lance Young and Brooke Petzold of JLL represented KBS in the transaction. MIG Real Estate represented the buyer, an undisclosed 1031 exchange investor. The property was 93 percent leased at the time of sale.

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DevelopmentIndustrialSelf-StorageTexas

Storage King USA Completes 232-Unit Self-Storage Expansion Project in Argyle, Texas

by Taylor Williams

ARGYLE, TEXAS — Storage King USA, the self-storage arm of New York City-based investment firm Andover Properties, has completed a 232-unit expansion of its facility in Argyle, located in Denton County. The project added 38,500 net rentable square feet of climate-controlled and non-climate-controlled space, as well as 5,750 square feet of flex space. The facility, which also offers enclosed and covered storage options for boats and RVs, now totals 865 units.

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IndustrialLeasing ActivityTexas

Oxford Partners Arranges 32,000 SF Industrial Sublease in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Oxford Partners has arranged a 32,000-square-foot industrial sublease in northwest Houston. According to LoopNet Inc., the property at 5910 North by Northwest Blvd. was built in 1998 and totals 96,000 square feet. Austen Buckalew and Matt Rogers of Oxford Partners represented the tenant, SiYi America Hardware LLC, in the lease negotiations. The name and representative of the landlord were not disclosed.

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Firefly-Park-Frisco
DevelopmentMixed-UseTexas

Wilks Development, Frisco EDC Unveil Plans for 217-Acre Firefly Park Mixed-Use Project

by Taylor Williams

FRISCO, TEXAS — A partnership between Fort Worth-based Wilks Development and the Frisco Economic Development Corp. has unveiled plans for Firefly Park, a 217-acre mixed-use project that will be located on the northern outskirts of Dallas. The site at the intersection of U.S. Highway 380 and the Dallas North Tollway sits at the gateway to the PGA of America’s headquarters campus. Preliminary plans call for 3 million square feet of Class A office space, 400,000 square feet of upscale retail, dining and entertainment space, 1,200 hotel rooms, 230 townhomes and 1,970 mid-rise and high-rise residential units. Firefly Park will also feature a 45-acre park with multiple lakes, hiking trails, public art installations and family-friendly amenities. The first phase of the development will center on construction of the Dream Hotel, 650,000 square feet of Class A offices, upscale dining and shopping space and the 45-acre park. Construction is scheduled to begin in the coming days, with a formal groundbreaking ceremony to take place in late June.

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