AUSTIN, TEXAS — Multinational computer software firm Oracle (NYSE: ORCL) will relocate its headquarters from Redwood Shores, Calif., to Austin, according to reports from multiple outlets including Business Insider and The Austin-American Statesman. Oracle, which has been based in Silicon Valley since its founding in 1977, opened its new Austin campus in 2018. Oracle’s commitment to Austin is the latest move by major tech firms to target the state capital for relocation or other sizable investment, following Tesla’s summer announcement to open a $1.1 billion manufacturing plant in Austin. Oracle’s stock price opened at $60.83 per share on Monday, Dec. 14, up from $54.60 per share a year ago.
SUGAR LAND, TEXAS — A partnership between Houston-based Buckhead Investment Partners and Zane Segal Projects has broken ground on Arista Riverstone, a 142-unit active adult community that will be located in the southwestern Houston suburb of Sugar Land. The four-story building will border a lake and connect to the walking trails within the Riverstone master-planned development. Additional amenities will include a fitness and wellness center, a pool, multiple game rooms and lounges, conference and craft rooms, multiple dog parks, a hair and nail salon and climate-controlled storage units. San Antonio-based Gonzalez Newell Bender Architects is designing the project. Galaxy Builders Ltd., also based in San Antonio, is the general contractor, and Greystar is the leasing agent. Move-ins are slated to begin in early May, with full completion scheduled for fall 2021.
PLANO, TEXAS — CBRE has negotiated a 103,750-square-foot office lease expansion for interactive fitness company Peloton at the 85-acre Legacy Central campus in Plano. Peloton, which moved into the building in 2018, is essentially quadrupling its original footprint and now occupies 131,268 square feet at the property. Michael Conner and Baron Aldrine of CBRE represented Peloton in the lease negotiations. Nathan Durham and Duane Henley of Transwestern represented the landlord, Regent Properties. Peloton reported sales growth of 232 percent in its most recent fiscal quarter, and the company’s stock price is up more than 300 percent for the year as consumers have sought alternative ways of exercising amid COVID-19.
FATE, TEXAS — Tyler, Texas-based owner-operator Brookshire Grocery Co. and the City of Fate, located northeast of Dallas, have broken ground on a 66,000-square-foot grocery store for Brookshire’s FRESH concept. The public-private partnership expects to complete the project in late 2021 and to bring about 200 new jobs to the community. The store will be Brookshire’s second under the FRESH brand, with the first opening in Tyler in 2011. The concept in Tyler includes authentic Japanese ramen and Vietnamese pho counters, a taco bar, coffee bar, patio dining and onsite public spaces with live music and play areas for children.
DALLAS — ML Realty Partners has acquired a 56,520-square-foot industrial building located at 3942 Irving Blvd. in the South Stemmons submarket of Dallas. According to LoopNet Inc., the property was built in 1968, renovated in 2000 and features 20- to 24-foot clear heights. Jeremy Mercer and Jeff Turner of Mercer Co. represented the seller and will also be responsible for leasing the building on behalf of ML Realty Partners.
MISSOURI CITY, TEXAS — Trammell Crow Co. has broken ground on Phase V of Park 8Ninety, a project that will add 676,860 square feet of Class A industrial space across three buildings in Missouri City, a southwestern suburb of Houston. Trammell Crow is co-developing the fifth and final phase of the 129-acre project with Canada-based Artis REIT. Designed by Powers Brown Architecture, the Phase V buildings will offer 28- to 36-foot clear heights, ESFR sprinkler systems and ample car and trailer parking. Burton Construction is the general contractor for the project, and Boyd Commercial is the leasing agent. Completion is slated for the third quarter of 2021.
SAN ANTONIO — A joint venture between Baltimore-based investment firm Alex. Brown Realty and Continental Realty Group has acquired The Club at Stone Oak, a 250-unit apartment community in northern San Antonio. Built in 2005, the property features a mix of one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, outdoor kitchen and a game room. The new ownership will implement a value-add program that will enhance unit interiors, common areas and amenity spaces. The seller was not disclosed.
SAN MARCOS, TEXAS — FourPoint Investment Sales Partners has brokered the sale of The Fitzroy San Marcos, a 176-unit multifamily community in Central Texas that was built in 2020. Units are furnished with stainless steel appliances, granite countertops and designer finishes. Amenities include a pool with cabanas, a 24-hour fitness center and a business center. Kevin Dufour and Kyle Peco of FourPoint represented the seller in the off-market transaction. The Texas-based buyer plans to own and operate the property on a long-term basis. Rents start at approximately $1,080 per month for a one-bedroom unit, according to Apartments.com.
GARLAND, TEXAS — Greystone has provided a $22.9 million HUD loan for the refinancing of Carriage Homes on the Lake, a 147-unit multifamily asset located in the northeastern Dallas suburb of Garland. Built in 2015, the property consists of 15 three-story buildings housing one- and two-bedroom units. Amenities include a pool, fitness center, business center, clubhouse and outdoor picnic areas. Eric Rosenstock, Paul Smyth and Cary Williams of Greystone originated the loan, which carries a fixed interest rate and a 39-year term and amortization schedule, through HUD’s 223(a)(7) program. The borrower was Bridgeview Multifamily.
NEW BOSTON, TEXAS — California-based KBR Wyle Services LLC has signed a 13,000-square-foot industrial lease in New Boston, located near the Texas-Arkansas border. The space is located at 133 Miller St. within TexAmericas Center, an industrial park that houses about 12,000 development-ready acres and 3 million square feet of commercial and industrial space at the site of a former military complex. KBR’s lease term is 24 months. The tenant expects to create five jobs and invest $4.5 million in the local economy.