WHITE SETTLEMENT, TEXAS — Dallas-based Darwin German Real Estate Investments has acquired Oak View Apartments, a 270-unit multifamily property in White Settlement, a western suburb of Fort Worth. The community was built on 2.3 acres in 2018 and was 93 percent occupied at the time of sale. Oak View features one- and two-bedroom units and amenities such as a pool and a fitness center. Darwin German purchased the asset from the locally based developer for an undisclosed price.
HOUSTON — Microsoft has signed a lease to occupy an undisclosed amount of space at The Ion, a 300,000-square-foot office project located at 4201 Main St. in Midtown Houston that is a redevelopment of the former Sears building. More than 50 percent of the office space at the 16-acre site is now leased to commercial tenants including Microsoft and Chevron. The Redmond, Wash.-based tech giant will use the space to further develop its Azure cloud storage and similar platforms. Rice Management Co. is leading the redevelopment of The Ion and expects the project to be ready for occupancy this year. Savills handles leasing of the property.
HOUSTON — Seismique, an art museum operator that features high-tech and interactive exhibits, has opened a 40,000-square-foot venue at 2306 Highway 6 S. in Houston for its first location in Texas. The venue, which features 40 galleries with experiential exhibits, officially opened on Dec. 26. Jason Gaines of NAI Partners represented Seismique in the lease negotiations. The name and representative of the landlord were not disclosed.
MCKINNEY, TEXAS — Chicago-based Draper & Kramer has acquired Adriatica Senior Living, a 121-unit community located in the northern Dallas suburb of McKinney. The property was built in 2017 and features one- and two-bedroom units that range in size from 806 to 1,370 square feet. Amenities include a community dining room, resident lounge for socializing, beauty salon, business center, movie room, wellness studio and a game room. The seller was not disclosed.
HOUSTON — Miami-based lender 3650 REIT has provided a $31 million construction loan for an office and retail project that will be located at 4411 San Felipe St. in Uptown Houston. The property will consist of three floors of office space and ground-floor retail space. Michael Fleischer and Shin Bowers of 3650 REIT originated the 30-month loan to DC Partners, a Houston-based developer. Completion is slated for January 2022.
HOUSTON — Cadence Bank has signed an 82,215-square-foot office lease at Park Towers, a 545,242-square-foot office complex in Uptown Houston. The property consists of two 18-story buildings and offers amenities such as a fitness center, conference facility, tenant lounge with a golf simulator and a drive-thru coffee shop that is currently under construction. Doug Little, David Baker, Kelli Gault and Jack Scharnberg of Transwestern represented the landlord, Regent Properties, in the lease negotiations.
ADDISON, TEXAS — NAI Robert Lynn has arranged the sale of Inwood Soccer Center, a 56,000-square-foot industrial and office building in the northern Dallas metro of Addison. The buyer, Cherry Coatings, will occupy the building as its new headquarters and retrofit the property to house 75 corporate employees, as well as a large warehouse with loading docks. Chad Albert of NAI Robert Lynn represented Cherry Coatings, which plans to relocate to the property from nearby Carrollton this year, in the deal. The seller was not disclosed.
HURST, TEXAS — Colliers International has brokered the sale of Norwood Plaza, an office building located in the Fort Worth suburb of Hurst. According to LoopNet Inc., the property totals 44,245 square feet. Norwood Plaza was fully leased to 27 tenants at the time of sale. The buyer and seller both requested anonymity. Mark Allen and Cody Payne of Colliers International brokered the deal.
SAN ANTONIO — Amazon (NASDAQ: AMZN) will open three industrial facilities totaling 2.1 million square feet in the San Antonio area over the next two years. Combined, the three new facilities are expected to bring about 1,500 new jobs to the market. The Seattle-based e-commerce giant will open a 1 million-square-foot fulfillment center in 2021 and a 750,000-square-foot fulfillment center in 2022, as well as a 350,000-square-foot delivery station at 8210 Aviation Landing. After items are sorted and at fulfillment centers, they are transported to delivery stations for last-mile distribution to customers. The developers and sites of the fulfillment centers were not disclosed.
AUSTIN, TEXAS — Texas-based developer Presidium and global investment manager Partners Group have unveiled plans for River Park, a 109-acre mixed-use project that will be located on East Riverside Drive near Oracle’s newly announced headquarters campus. The new master plan for the project calls for more than 10 million square feet of commercial and residential space across office, retail, hospitality, entertainment and multifamily uses. The residential component will also include 400 affordable housing units. River Park will be a multi-phase project that is expected to take 10 to 20 years to fully build out. A new street network of short, pedestrian-friendly blocks and trail connections will link the various uses and connect to the surrounding neighborhood and a new multimodal transit hub. Gensler is leading the design of the project. The team anticipates beginning construction with a 15-acre portion along the southeastern side of the site.
