IRVING, TEXAS — Marcus & Millichap has brokered the sale of Corporate Park Place, a 113,429-square-foot office building in Irving. The building was constructed on 6.1 acres in 1980 and houses 52 suites. Ron Hebert and Joseph Jaques of Marcus & Millichap represented the undisclosed seller in the all-cash transaction. The duo also procured the buyer, a local investor who acquired the property via a 1031 exchange. The sales price was also not disclosed.
FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 14,523-square-foot industrial lease in Fort Worth. The space is located within Carter Business Center, a two-building, 120,728-square-foot development located southwest of the downtown area. Thomas Grafton and George Jennings of Holt Lunsford represented the landlord, Cohen Asset Management, in the lease negotiations. Langston Sutcliffe of Partners Real Estate represented the tenant, industrial rubber products manufacturer Garware Fulflex USA Inc.
DALLAS — A partnership between two Dallas-based firms, Lincoln Property Co. and Tradition Holdings, as well as infrastructure provider Gigabit Fiber, will develop an 800,000-square-foot data center campus in South Dallas. The site spans 131 acres in the Red Oak submarket. The campus will comprise four facilities that will have a total power capacity of up to 540 megawatts at full build-out and that will support users in cloud computing and artificial intelligence, among others. Construction will be carried out in phases, starting with the development of a 7,500-square-foot, two-megawatt facility in the first quarter. A completion date for the entire development was not disclosed.
FORT WORTH, TEXAS — Affinius Capital has provided a $77.4 million construction loan for West Worth Commerce Center, a 992,000-square-foot industrial project in Fort Worth. The site is located off I-820 between interstates 30 and 20, and the development will consist of four buildings that will feature 32- to-36-foot clear heights, 274 dock-high doors, 12 drive-in doors and parking for 235 trailers and 912 cars. The borrower is a joint venture between Forefront Commercial Real Estate and a fund backed by Ares Management Real Estate. A tentative completion date for West Worth Commerce Center was not disclosed.
FORT WORTH, TEXAS — Trademark Property Co. has topped out The Vickery, a 321-unit multifamily project in downtown Fort Worth. Designed by GFF and developed in partnership with SCOA Real Estate Partners, The Vickery will consist of 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a second-story lounge, as well as an amenitized green space. Residential amenities will include a pool, rooftop lounge and coworking space. Construction began in February 2024 and is expected to be complete this spring.
SAN ANTONIO — Locally based firm CBG Real Estate will undertake a hotel redevelopment project in northeast San Antonio. CBG will redevelop an existing hotel located at the intersection of Perrin Beitel Road and Loop 410 near San Antonio International Airport into a 165-room, dual-branded property. The new hotel will be operated under the La Quinta and Hawthorn Extended Stay by Wyndham brands and will offer amenities such as a fitness center, outdoor grilling and picnic areas and meeting/event space. The project is expected to be complete before the end of the year.
WESLACO, TEXAS — Arlington-based investment firm Skywalker Property Partners has purchased two industrial properties totaling 176,700 square feet in the Rio Grande Valley city of Weslaco. The acquisitions include a 108,000-square-foot warehouse at 715 W. Pike Blvd. that was fully leased at the time of sale to Jefferson Electric and can support future expansion and a two-building facility at 308-320 S. Utah Ave. that is home to seven different tenants. Skywalker plans to invest about $750,000 in capital improvements to the properties. The seller and sales price were not disclosed.
PEARLAND, TEXAS — Northmarq has provided a $43.4 million Freddie Mac loan for the refinancing of Avenues at Shadow Creek Ranch, an apartment complex located in the southern Houston suburb of Pearland. According to Apartments.com, the property was built in 2013 and totals 300 units. Residences come in one-, two- and three-bedroom floor plans, and amenities include a pool, fitness center, outdoor grilling and dining stations, game room and a car care center. Greg Duvall led the Northmarq team that originated the seven-year, fixed-rate loan. The borrower was not disclosed.
HOUSTON — Berkadia has arranged a $16.1 million loan for the refinancing of a 48,440-square-foot life sciences facility in Houston. The property at 4551 Kennedy Commerce Drive is located on the city’s north side and was fully leased at the time of the loan closing to CellReady, a provider of gene therapy solutions. Sabrina Solomiany, Patrick Abeln and Mike Cerny of Berkadia arranged the five-year loan, which carried a 6.7 percent fixed interest rate and a 30-year amortization schedule, on behalf of the borrower, Houston-based DC Partners. The direct lender was not disclosed.
LAREDO, TEXAS — Atlanta-based investment firm MDH Partners has acquired a 70,000-square-foot industrial building in the Rio Grande Valley city of Laredo. Completed in 2023, the building is located within North Laredo Industrial Park and features 27-foot clear heights, 35 overhead doors, 3,500 square feet of office space and parking for 50 cars and 73 trailers. Alfonso Jasso with Forum CRE represented the undisclosed seller in the transaction. The building was fully leased at the time of sale.