Texas

Howard Hughes Corp. to Add 2 MSF of New Development Across Four Master-Planned Communities

by Kristin Harlow February 3, 2021

HOUSTON — The Howard Hughes Corp. (NYSE: HHC) has unveiled plans to add approximately 2 million square feet of new development across four of its master-planned communities in Las Vegas; Cypress, Texas; Columbia, Md.; and Honolulu. At Summerlin, which is located along the western rim of the Las Vegas valley, Howard Hughes has planned 1700 Pavilion, a 10-story office building. The Class A property will span 267,413 square feet and offer views of the entire valley. Additionally, the company will build Tanager Echo, the second phase of the Tanager luxury apartments. The 295-unit apartment complex will be situated on nearly three acres. Touchless entry and enhanced air filtration will be featured throughout both projects, which will be built simultaneously. Construction is expected to begin in the second quarter with completion slated for late 2022. At Bridgeland in Cypress, Texas, Howard Hughes has started construction of Starling at Bridgeland. The 358-unit apartment project is the first multifamily development to be built in Bridgeland Central, the 900-acre future town center. Starling at Bridgeland will incorporate extensive fitness features and will be located within walking distance of Josey Lake. Completion is slated for summer 2022. Howard Hughes is set to break ground this …

February 3, 2021

Acquisitions Industrial Loans Texas

Lightstone Acquires 649,361 SF Industrial Facility in Garland, Texas

by Taylor Williams February 2, 2021

GARLAND, TEXAS — New York City-based investment firm Lightstone has acquired a 649,361-square-foot manufacturing and distribution facility in the northeastern Dallas suburb of Garland. Built in 1960 and renovated in 2016, the property features clear heights ranging from 12 to 40 feet, 40 loading docks, 18 overhead doors, six drive-in doors, a low office finish and substantial truck and vehicle parking space. The facility was 97 percent leased to five tenants in the retail and logistics industries at the time of sale. Peter Rotchford, Cullen Aderhold, Alex Staikos, Ross Crawford and Bo Beidleman of JLL arranged a $14.4 million acquisition loan through RGA Reinsurance Co. for the transaction. The loan was structured with a seven-year term and a fixed interest rate.

February 2, 2021

Development Industrial Texas

Conor Commercial Completes 198,109 SF Industrial Project in Mesquite, Texas

by Taylor Williams February 2, 2021

MESQUITE, TEXAS — Conor Commercial Real Estate, a division of The McShane Cos., has completed Skyline Commerce Center, a 198,109-square-foot industrial project located in the eastern Dallas suburb of Mesquite. The property consists of two buildings on a 12.3-acre site that fronts Interstate 30. Building 1 totals 135,396 square feet and features 32-foot clear heights, 12 trailer parking stalls and 133 car parking spaces. Building 2 spans 62,713 square feet and features 28-foot clear heights and 122 car parking spaces.

February 2, 2021

Industrial Leasing Activity Texas

CBRE Negotiates 123,966 SF Industrial Lease in El Paso

by Taylor Williams February 2, 2021

EL PASO, TEXAS — CBRE has negotiated a 123,966-square-foot industrial lease at 9541 Joe Rodriguez Drive in El Paso. Boston-based Equity Industrial Partners and New York-based Raith Capital Partners broke ground on the speculative building in March and have now leased the entirety of the space to a single, undisclosed third-party logistics user. Arturo De la Mora and Andres Sandoval of CBRE represented building ownership in the lease negotiations.

February 2, 2021

Acquisitions Industrial Texas

Stream Realty Partners Brokers Sale of 123,800 SF Industrial Building in Metro Dallas

by Taylor Williams February 2, 2021

GARLAND, TEXAS — Stream Realty Partners has brokered the sale of a 123,800-square-foot industrial building located at 2917 Oakland St. in the northeastern Dallas suburb of Garland. Adam Jones and James Mantzuranis of Stream Realty Partners represented the buyer, locally based investment firm CanTex Capital, in the transaction. Hal Penchan and Matt Troutt of Altschuler & Co. represented the undisclosed seller.

February 2, 2021

Industrial Leasing Activity Texas

RH Signs 62,000 SF Industrial Lease Near San Antonio

by Taylor Williams February 2, 2021

SCHERTZ, TEXAS — California-based retailer Restoration Hardware (RH) has signed a 62,000-square-foot industrial lease at Enterprise Industrial Park, a speculative development located in the San Antonio suburb of Schertz. The tenant will lease space at Building VI, which features 30-foot clear heights, trailer storage and office space. John Colglazier with Colglazier Properties represented the landlord, a joint venture between Atlanta-based Robinson Weeks and New Mexico-based Titan Development, in the lease negotiations. Kyle Mueller of JLL represented RH.

February 2, 2021

Development Multifamily Texas

Presidium Breaks Ground on 340-Unit Apartment Community in Fort Worth

by Taylor Williams February 1, 2021

FORT WORTH, TEXAS — Texas-based developer Presidium has broken ground on Presidium Berkshire, a 340-unit apartment community located near Alliance Town Center in Fort Worth. Designed by Dallas-based O’Brien Architects, the 352,000-square-foot property will feature units with stainless steel appliances, individual washers and dryers and high-end finishes. Amenities will include a clubhouse with gaming tables and a speakeasy-style bar, a business center with private offices and conference rooms, demonstration kitchen, two-story fitness center, dog park, pool and outdoor grilling stations. Kimley-Horn is the civil engineer for the project, and Provident General Contractors is handling construction, which is slated for a mid-late 2022 completion.

February 1, 2021

Loans Multifamily Texas

Berkadia Provides $69.5M HUD Loan for North Austin Multifamily Property

by Taylor Williams February 1, 2021

AUSTIN, TEXAS — Berkadia has provided $69.5 million in HUD construction and permanent financing for 27 Eleven Apartments, a 320-unit multifamily property located at 2711 W. Anderson Lane in North Austin. The community features studio, one- and two-bedroom units and amenities such as a pool, clubhouse, courtyard and a fitness center. Chad Bedwell of Berkadia originated the 40-year loan through HUD’s 221(d)(4) program on behalf of the borrower, California-based Paydar Properties.

February 1, 2021

Acquisitions Retail Texas

Stan Johnson Brokers $68.4M Sale of 27-Property Single-Tenant Retail Portfolio

by Taylor Williams February 1, 2021

TULSA, OKLA. — Tulsa-based Stan Johnson Co. has brokered the $68.4 million sale of a 27-property, single-tenant retail portfolio located across 18 states. The 340,000-square-foot portfolio includes properties ranging from 5,100 square feet to 23,500 square feet. The buildings are leased to tenants including dollar stores, discount retailers, automotive suppliers, farm stores and home improvement retailers. Zach Harris, Jeff Hughes and Melissa McKenzie of Stan Johnson Co. represented the seller, a Midwest-based private family office, in the disposition of the properties to an undisclosed institutional investor.

February 1, 2021

Champions-Circle-Business-Park-Fort-Worth

Development Industrial Texas

Hopewell, GTIS to Develop 361,000 SF Champions Circle Business Park in Fort Worth

by Taylor Williams February 1, 2021

FORT WORTH, TEXAS — A joint venture between Canadian firm Hopewell Development LP and New York-based GTIS Partners LP has acquired land in the Alliance submarket of Fort Worth for the development of Champions Circle Business Park. The 361,000-square-foot industrial project will consist of three buildings that will offer proximity to Interstates 35 and 820. Construction is scheduled to begin in March and to be complete in the first quarter of next year. Nathan Denton and Reid Bassinger of Lee & Associates represented the development team in its acquisition of the land. Dustin Volz, Stephen Bailey and Wells Waller of JLL arranged the joint venture partnership between Hopewell and GTIS.

February 1, 2021

Newer Posts

Older Posts