DALLAS — RETS Associates, a California-based company that specializes in matching real estate companies with qualified talent, has opened a new office in Dallas. The firm has tapped Chase Fryhover as director of the new office, which is located at 5420 Lyndon B. Johnson Freeway in the Galleria area. Fryhover will focus on recruiting for entry to mid-level positions in the Dallas market. RETS Associates also has offices in Charlotte, Chicago, Denver and Phoenix.
PLANO, TEXAS — At Home Group Inc. (NYSE: HOME) reported a 47.5 percent increase in net sales for its third fiscal quarter that ended on Oct. 24 relative to its fiscal third quarter in 2019. At Home has now achieved 21.5 percent growth in net sales on a year-to-date basis. The Plano-based home improvement retailer also reported $47.1 million in net income for its third quarter, a substantial increase from the $14.6 million net loss posted in the third quarter of 2019. The company currently operates 219 stores in 40 states. In a call with shareholders, At Home CEO Lee Bird noted the company was currently enjoying its lowest leverage ratio since going public. In addition, Bird said that At Home’s “real estate opportunities are only getting stronger,” and that the company had “the potential to grow our store base nearly three times larger.” At Home’s stock price opened at $18.86 per share on Thursday, Dec. 3, up from $8.24 per share a year ago.
SAN ANTONIO — New Jersey-based Silver Point Group and its Chicago-based preferred equity partner Origin Investments have acquired Ashley Oaks Apartment Homes, a 462-unit multifamily community in San Antonio. Built in phases between 1985 and 1995, the property is located approximately 15 miles from the downtown district and features one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse and outdoor grilling areas. The seller was LivCore, a subsidiary of Blackstone Group.
IRVING, TEXAS — CBRE has negotiated the sale of Monterey Apartments, a 160-unit multifamily community in Irving. The property was built in 1971, offers a pool and a playground and was 73 percent occupied at the time of sale. Chris Deuillet and William Hubbard of CBRE represented the seller, Plano-based Elmstone Group, in the transaction. The buyer was Forney, Texas-based BeazWorkz Investing.
FORT WORTH, TEXAS — Henry S. Miller Brokerage has arranged the sale of a 24,833-square-foot retail building located at 2551 Ephriham Ave. in northwest Fort Worth. Shawn Ackerman of Henry S. Miller represented the seller, Fallas Borrower IV LLC, in the transaction. Troy Morgan of Structure Commercial represented the buyer, Savcorp Ltd., doing business as Savers Cost Plus Supermarket.
AUSTIN, TEXAS — Locally based investment firm Rastegar Property Co. has purchased Lamar Oaks, a 30-unit apartment complex on Austin’s north side. The property was built in 1969 and consists of 19,650 net rentable square feet. Rastegar will implement a value-add program to unit interiors and amenity spaces, including greater air circulation and social distancing in common areas. The seller was not disclosed.
MESQUITE, TEXAS — Dalfen Industrial has acquired Peachtree Distribution Center, a 396,750-square-foot industrial property located in the eastern Dallas suburb of Mesquite. The cross-dock property was built in 2001 and was fully leased to manufacturers Dal-Tile Corp. and Parker-Hannafin Corp., as well as packaging firm Bronco Orora, at the time of sale. Building features include 68 docks, ample car and trailer parking space and proximity to Interstates 30, 80 and 635. The seller was New York-based Clarion Partners. With this acquisition, Dalfen now owns and operates over 4.4 million square feet of last-mile industrial space in Texas and over 24 million square feet nationwide.
IRVING, TEXAS — Locally based general contractor KWA Construction has topped out 880 LYN, a $46 million apartment project located on 3.4 acres in Irving’s Las Colinas district. Designed by REES Associates and developed by Legacy Partners and HGC Investment Management, 880 LYN will feature 293 units ranging in size from 580-square-foot studio apartments to 1,945-square-foot two-bedroom units. Amenities will include a pool, spa, fitness center, demonstration kitchen, wine grotto, sports lounge, business center, video conferencing facility and a private party suite. Residents will also have access to water taxi services, as well as paddleboards and kayaks, on Lake Carolyn. Completion is slated for October 2021.
HOUSTON — JLL has negotiated the sale of Westchase Commons, a three-building, 149,893-square-foot flex property in Houston. The 14-acre Westchase Commons was built in 2001 and was 77 percent leased at the time of sale. Kevin McConn and Trent Agnew of JLL represented the undisclosed seller and procured Houston-based Mission Cos. as the buyer. John Ream and Michael Johnson of JLL arranged acquisition financing through Woodforest National Bank.
FORT WORTH, TEXAS — Aerospace manufacturer Bell Textron Inc. (NYSE: TXT) has signed a 109,187-square-foot office lease at 4151 Amon Carter Blvd. in Fort Worth. The four-story building is part of the 40-acre former American Airlines campus that was purchased by Capital Commercial Investments (CCI) earlier this year. Duane Henley and Nathan Durham of Transwestern represented CCI in the lease negotiations. Todd Burnette and Matt Montague of JLL represented Bell Textron, which also recently opened a 140,000-square-foot manufacturing technology center in Fort Worth.