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AcquisitionsIndustrialTexas

Dalfen Acquires 396,750 SF Peachtree Distribution Center in Mesquite, Texas

by Taylor Williams

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.

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DevelopmentMultifamilyTexas

KWA Tops Out $46M Apartment Project in Irving’s Las Colinas District

by Taylor Williams

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.

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AcquisitionsIndustrialOfficeTexas

JLL Negotiates Sale of 149,893 SF Westchase Commons Flex Property in Houston

by Taylor Williams

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.

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Leasing ActivityOfficeTexas

Bell Textron Signs 109,187 SF Office Lease in Fort Worth

by Taylor Williams

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.

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Leasing ActivityRetailTexas

British Gaming Concept Electric Gamebox to Open at Grandscape in Metro Dallas

by Taylor Williams

THE COLONY, TEXAS — Electric Gamebox, a British entertainment concept centered on interactive gaming, will open a 4,000-square-foot venue at Grandscape, the 433-acre mixed-use destination in the northern Dallas suburb of The Colony. The venue, which is expected to open this month, will be Electric Gamebox’s first in the United States. Nebraska Furniture Mart is leading the development of the retail components of Grandscape.

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AcquisitionsOfficeTexas

JLL Negotiates Sale of 17-Story Office Building in Downtown Houston

by Taylor Williams

HOUSTON — JLL has negotiated the sale of 1111 Fannin, a 428,629-square-foot office building in downtown Houston. The 17-story building was fully leased to a single investment-grade tenant at the time of sale. According to the Houston Business Journal, that tenant is JP Morgan Chase. Amenities include a conference center, attached parking garage and access to Houston’s tunnel system, which features more than seven miles of underground climate-controlled walkways with retail and dining amenities. Dan Miller, Marty Hogan and Ethan Goldberg of JLL represented the undisclosed seller and procured the buyer, a partnership between Triten Real Estate Partners and Taconic Capital Advisors, in the transaction. The new ownership plans to redevelop the building and has tapped Chicago-based HPA Architecture to conceptualize the design.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 534-Unit Self-Storage Facility in San Antonio

by Taylor Williams

SAN ANTONIO — Marcus & Millichap has brokered the sale of a 534-unit self-storage facility located at 13608 Galm Road in northwest San Antonio. Almost all of the units at the 66,338-square-foot facility feature climate-controlled space. Jon Danklefs of Marcus & Millichap represented the seller, a developer, in the transaction. The buyer, New York City-based Andover Properties LLC, will operate the facility under its trade name Storage King USA.

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DevelopmentHospitalityTexas

Jenkins Organization Breaks Ground on 208-Site RV Resort in Elgin, Texas

by Taylor Williams

ELGIN, TEXAS — Houston-based self-storage developer The Jenkins Organization has broken ground on a 208-site RV resort in Elgin, about 25 miles northwest of Austin. Jenkins will operate the new park under the Great Escapes brand. Amenities will include a clubhouse with a kitchen, a resort-style pool, fitness center, outdoor grilling areas and a dog park. The opening of the facility, which will be Jenkins’ fourth Great Escapes location, is scheduled for winter 2021.

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IndustrialLeasing ActivityTexas

Sewell BMW of Grapevine Signs 252,400 SF Industrial Lease Near Fort Worth

by Taylor Williams

GRAPEVINE, TEXAS — Local automotive dealer Sewell BMW of Grapevine has signed a 252,400-square-foot industrial lease at 1717 W. Airfield Drive in the Fort Worth suburb of Grapevine. According to LoopNet Inc., the property was built in 1989 and totals approximately 500,000 square feet. Blake Kendrick, Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, Clarion Partners, in the lease negotiations. Ben Sumner with Centurion Real Estate Partners represented the tenant.

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AcquisitionsIndustrialOfficeTexas

Optimal Elite Management Buys 63,483 SF Flex Building in Metro Dallas

by Taylor Williams

GRAND PRAIRIE, TEXAS — Sign manufacturer Optimal Elite Management LLC has purchased a 63,483-square-foot office/warehouse building located in the central metroplex city of Grand Prairie. The two-story building is situated on 9.5 acres within Great Southwest Industrial Park and comprises 46,950 square feet of light manufacturing space and 16,533 square feet of office space. The seller, Breg Inc., will continue to occupy the site for the next six months through a sale-leaseback. Noah Dodge and Jason Finch of Bradford Commercial Real Estate Services represented Optimal Elite Management in the deal. Steve Koldyke, Brian Gilchrist and Chris Powers of CBRE represented the seller.

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