HOUSTON — The Multifamily Group (TMG), a Dallas-based brokerage firm, has arranged the sale of Live Oak Apartments, a 162-unit community in Houston’s Energy Corridor. Built in 1977 and renovated in 2018, the property features one- and two-bedroom units and amenities such as a pool, playground, pet play area and onsite laundry facilities. Bryce Smith of TMG represented the seller and procured the buyer in the transaction. Both parties requested anonymity.
DALLAS — Marcus & Millichap has brokered the sale of Skillman Centre, a 55,867-square-foot retail property in North Dallas. According to LoopNet Inc., the property was built in 1982. Joe Santelli of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction. Skillman Centre was 66 percent leased at the time of sale.
AUSTIN, TEXAS — Everi Games Holding Inc., a provider of content and electronic gaming units and systems for Native American and commercial casinos, has signed a 51,000-square-foot office lease renewal at 206 Wild Basin Road in west Austin. The building is situated on 2.6 acres and spans 118,217 square feet. Kevin Granger and Matt Frizzell of Cushman & Wakefield represented the landlord, Massachusetts-based RMR Group, in the lease negotiations. Diana Holford and Austin Trees of JLL represented the tenant.
DALLAS — CBRE is relocating its global headquarters from Los Angeles to Dallas, according to several media outlets including The Dallas Morning News and The Dallas Business Journal. The real estate giant is expected to provide more information on the relocation as part of its release of its third-quarter earnings report later today, according to The Dallas Morning News. CBRE currently operates three offices in the Dallas-Fort Worth (DFW) metroplex, with its largest one located at 2100 McKinney Ave. in the Uptown area of Dallas. The company’s top executive, president and CEO Robert Sulentic, has ties to Dallas from his previous executive position at Trammell Crow, which CBRE acquired in 2006.
FORT WORTH, TEXAS — Locally based firm VanTrust Real Estate LLC has broken ground on Phase I of the 1.3 million-square-foot Fort Worth Logistics Hub, a project that will add 670,941 square feet of Class A industrial space to the local supply. Designed by Alliance Architects, Fort Worth Logistics Hub spans 75 acres on the city’s south side near Interstates 20 and 35. Phase I of the project is expected to be complete in July 2021, with construction of the 606,480-square-foot Phase II beginning shortly thereafter. Arlington, Texas-based Bob Moore Construction is the general contractor for the project, and Pacheco Koch is the civil engineer. CBRE is handling leasing.
GEORGETOWN, TEXAS — MedCore Partners and The National Realty Group (TNRG) have begun construction of The Hacienda at Georgetown, a 230-unit seniors housing community in metro Austin. The community sits on a 13.2-acre tract at the south entrance to Sun City Texas, a master-planned active adult community. The resort-style senior living campus will offer 125 independent living residences, 81 assisted living apartments and 24 memory care units. Watermark Retirement Communities will manage the property, which is slated to open in late 2022. BOK Financial is providing construction financing, while ACRON USA is providing equity for the project. REES Architects provided the architectural and engineering services.
HOUSTON — Stream Realty Partners has completed Benchmark Northwest Distribution Center, a 157,887-square-foot speculative industrial project located at 5215 Campbell Road in northwest Houston. The side-load building features 32-foot clear heights, 33 dock-high doors, an ESFR sprinkler system, 33 trailer parking spaces and 125 automobile parking spaces (expandable to 202). Ware Malcomb served as the project architect, and Rosenberg Construction served as the general contractor.
AUBREY, TEXAS — Weitzman has negotiated the sale of Navo Shopping Center, a 15,282-square-foot retail center in Aubrey, located north of Dallas. The property was fully leased at the time of sale to tenants such as Smoothie King, It’s-A-Burger, Farmers Insurance, Sushibachi, a nail salon and a dental practice. A limited liability company based in the Dallas area sold the asset to a Florida-based limited liability company for an undisclosed price. Kevin Butkus and Derek Schuster of Weitzman brokered the deal. Weitzman also handled leasing at the center, bringing it to full occupancy prior to the sale.
By Eric Voyles, executive vice president, TexAmericas Center Years before smartphones and decades before Zoom, community leaders along the Texas-Arkansas border decided to turn a shuttered military property into a regional economic driver. Now, with the boost of a technological revolution that makes it easier than ever to connect with companies worldwide, that venture is paying major dividends. Located in the Texarkana MSA, TexAmericas Center (TAC) is an industrial park with a unique twist — it’s run by a special purpose district of the State of Texas. That means it operates like a government, controlling its own zoning and permitting processes, but it also functions like a competitive real estate development company. This combination has been particularly attractive to relocating and expanding businesses over the years and continues to drive growth for the greater Texarkana economy. Companies considering relocation or expansion at TAC frequently comment on the variety of infrastructure updates made to the industrial park. They are also quick to appreciate an impressive transportation corridor that uses multiple state highways, interstates, air freight and rail lines to disperse from a central U.S. location. But what new companies don’t always realize just how deep the supply of skilled workers is, and …
FRISCO, TEXAS — Mill Creek Residential has broken ground on Modera Frisco Square, a multifamily project in Frisco that will add 360 Class A units to the local supply. The wrap-style community will offer one-, two- and three-bedroom units that are furnished with granite or quartz countertops, tile backsplashes, individual washers and dryers and private patios or balconies. Amenities will include a pool, grilling and picnic areas, fitness center, coffee bar, conference room and a golf simulator. The first move-ins are expected to begin in spring 2022.