Texas

Unico Properties Completes 165,000 SF Office Building in South Austin

by Taylor Williams February 11, 2021

AUSTIN, TEXAS — Seattle-based developer Unico Properties has completed Bouldin Creek, a 165,000-square-foot office building located at the northeast corner of South Lamar Boulevard and West Oltorf Street in South Austin. Designed by Michael Hsu Office of Architecture, the five-story building features 50,000-square-foot floor plates to support flexible workplace configurations, as well as floor-to-ceiling windows and terraces for outdoor workspaces and amenities. Indoor amenities include a fitness center, bike storage and electric car charging stations. Lastly, Proud Mary, an Australian coffee roaster and café, has signed a lease to occupy 2,500 square feet of ground-floor retail space with the opening expected later this year. Unico co-developed the property with Manifold Real Estate and OakPoint Real Estate, with White Construction Co. serving as the general contractor.

February 11, 2021

Acquisitions Industrial Texas

Stan Johnson Brokers $28M Sale-Leaseback of Industrial Portfolio in Texas, Southeast

by Taylor Williams February 11, 2021

TULSA, OKLA. — Tulsa-based Stan Johnson Co. has brokered the $28 million sale-leaseback of a portfolio of eight industrial properties located throughout Texas and the Southeast. Brad Pepin and Jeff Tracy of Stan Johnson Co., along with Tom Gates and David Maynard of Mirador Real Estate Advisors, represented the undisclosed seller, which executed long-term, absolute triple-net leases at closing. The buyer was a New York-based institutional investor. The portfolio totals more than 200,000 square feet across 70.5 acres, including one newly built property that features a combination of industrial and office space and serves as the tenant’s headquarters.

February 11, 2021

Development Office Texas

Gensler, Joeris General Contractors Begin Repositioning of Bexar County IT Suite in San Antonio

by Taylor Williams February 11, 2021

SAN ANTONIO — Global architecture firm Gensler and Joeris General Contractors have begun the repositioning of the Bexar County IT Suite in San Antonio. The project team is reducing the gross leasable space from 37,640 square feet to 21,750 square feet to favor more as-needed flex office and meeting and collaborative spaces, over assigned workstations and offices. Employees will continue to have access to the building’s café, lobby and loading dock while work is ongoing. The project is slated to be complete this summer.

February 11, 2021

Acquisitions Industrial Texas

JLL Negotiates Sale of 805,601 SF Industrial Facility Leased to Amazon in Metro Houston

by Taylor Williams February 10, 2021

KATY, TEXAS — JLL has negotiated the sale of an 805,601-square-foot industrial facility situated on 54.1 acres at 22525 Clay Road in Katy, a western suburb of Houston. The newly built facility was constructed as a build-to-suit for an e-commerce tenant, which the Houston Chronicle reports is Amazon. Building features include 40-foot clear heights, 190-foot truck court depths and an ESFR sprinkler system. Trent Agnew, Rusty Tamlyn, Charles Strauss, Tom Weber and Jack Britton of JLL represented the seller, an undisclosed publicly traded REIT, in the transaction. An affiliate of Chicago-based Walton Street Capital purchased the asset for an undisclosed price. Colby Mueck, Michael Johnson and Molly Leinsdorf of JLL placed floating-rate acquisition financing through Wells Fargo on behalf of the buyer.

February 10, 2021

Development Mixed-Use Texas

Aspen Heights to Redevelop Former Healthcare Site in Downtown Austin into 36-Story Mixed-Use Property

by Taylor Williams February 10, 2021

AUSTIN, TEXAS — Locally based student housing developer Aspen Heights Partners will redevelop the site of the former Health-South rehabilitation facility in downtown Austin into a mixed-use destination. Current plans for the site, which is located at the corner of 12th and Red River streets, call for a 36-story residential tower that will consist of 160 condos and 348 apartments, a 15-story office building, more than 25,000 square feet of retail space and a half-acre park. More than 25 percent of the multifamily units will be designated as affordable housing, and the project will also feature a rooftop café and 6,000 square feet of outdoor event space. A construction timeline is still being finalized. The groundbreaking is slated for 2023, with completion scheduled for 2026.

February 10, 2021

Acquisitions Office Texas

Tishman Speyer Enters Austin with Acquisition of 240,000 SF Foundry Office Complex

by Taylor Williams February 10, 2021

AUSTIN, TEXAS — New York City-based real estate giant Tishman Speyer has entered the Austin market with the acquisition of The Foundry, a 240,000-square-foot office complex located on the city’s east side. Tishman Speyer’s acquisition of Foundry I, which opened in 2019, was completed on February 3. The purchase of Foundry II will close when Austin-based developer Cielo Property Group delivers the building in May 2021. Sixth River Architects and Michael Hsu Office of Architecture designed the first and second buildings, respectively. Amenities include bike storage, outdoor terraces on every floor and underground parking. Mike McDonald and Katy Jane Jenevein of Cushman & Wakefield represented Cielo, which will continue to manage the buildings, in the transaction. Tishman Speyer has tapped CBRE to lease The Foundry.

February 10, 2021

Development Office Texas

JaRyCo to Develop 102,000 SF Office Building at The Farm in Allen, Texas

by Taylor Williams February 10, 2021

ALLEN, TEXAS — Locally based developer JaRyCo will build FarmWORK One, a 102,000-square-foot office building that will be part of Phase I of The Farm, a 135-acre mixed-use project in the northeastern Dallas suburb of Allen. The building will offer various features that promote health and wellness, such as outdoor workspaces with Wi-Fi connectivity on every floor, oversized elevators, additional restrooms on every level and high-efficiency air filtration systems. JaRyCo is the master developer of The Farm, which upon completion will consist of 1.6 million square feet of office space, 142,000 square feet of retail space, a 150-key hotel, 60,000 square feet of restaurant space, townhomes and 2,400 urban residential units. Construction on FarmWORK One will begin this year and is scheduled to be complete in summer 2022. Avison Young will handle leasing of the building.

February 10, 2021

Industrial Leasing Activity Texas

Newmark Negotiates 257,500 SF Industrial Lease Extension in Fort Worth

by Taylor Williams February 10, 2021

FORT WORTH, TEXAS — Newmark has negotiated a 257,500-square-foot industrial lease extension at 4900 Alliance Gateway in Fort Worth. Louis Pascuzzi, Jim Cooksey, Trace Elrod, Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, David Creiner, Brad Mason and Jack Brewer of Newmark represented the tenant, Ed Tucker Distributor Inc., in the lease negotiations.

February 10, 2021

Development Multifamily Texas

Provident Realty Advisors Underway on 331-Unit New Multifamily Project in Arlington

by Taylor Williams February 9, 2021

ARLINGTON, TEXAS — Provident Realty Advisors is underway on construction of Debbie Lane Flats, a 331-unit multifamily project that will be situated on 17 acres in Arlington. Amenities will include a fitness center, pool and a dog park. Construction officially began in June 2020 and is expected to be complete in the first quarter of 2022. Trez Capital recently provided $8.7 million in financing for the project.

February 9, 2021

Development Multifamily Texas

Allied Orion Breaks Ground on 324-Unit Granary Flats Apartments in Metro Houston

by Taylor Williams February 9, 2021

RICHMOND, TEXAS — Locally based developer Allied Orion Group has broken ground on Granary Flats, a 324-unit apartment community that will be located in the southwestern Houston suburb of Richmond. Designed by Sage Group, the property will be situated within Johnson Development’s 1,300-acre Harvest Green master-planned community and will feature one-, two- and three-bedroom floor plans. Units will be furnished with stainless steel appliances, granite countertops and wood-style flooring. Amenities will include a pool, fitness center, media room and a resident lounge with coworking spaces. Allied Orion expects to open the community in the fourth quarter.

February 9, 2021

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