Texas

Axton Group Buys 492-Room Renaissance Austin Hotel for $70M

by Taylor Williams November 30, 2020

AUSTIN, TEXAS — An affiliate of San Francisco-based investment management firm The Axton Group has purchased the 492-room Renaissance Austin Hotel for $70 million. The hotel, which is part of the Marriott International family of brands and is located on the city’s north side, includes 88 suites and 77,600 square feet of meeting and event space. An affiliate of Walton Street Capital LLC provided an undisclosed amount of acquisition financing for the transaction. Eastdil Secured served as financial advisor. The seller was not disclosed. Axton Group plans to upgrade the meeting rooms and other common spaces.

November 30, 2020

Development Retail Texas

H-E-B to Open 122,222 SF Grocery Store in New Braunfels, Texas

by Taylor Williams November 30, 2020

NEW BRAUNFELS, TEXAS — Locally based grocer H-E-B will open a new, 122,222-square-foot store at 651 S. Walnut Ave. in the San Antonio suburb of New Braunfels. An existing 99,000-square-foot H-E-B store opened in that market in 1994. The project, construction of which is slated to begin early next year, has a price tag of $17.5 million. The opening is slated for the fourth quarter of 2021.

November 30, 2020

Leasing Activity Restaurant Retail Texas

Mooyah Burgers to Debut 10 Restaurants in Dallas-Fort Worth, Create 250 Jobs

by Taylor Williams November 30, 2020

PLANO, TEXAS — Mooyah Burgers, Fries & Shakes, a Plano-based fast casual concept, will open 10 new restaurants throughout the metroplex, an expansion that is expected to create about 250 new jobs. All 10 of these locations will feature the brand’s new prototype with new dining zones, digital menus, a grab-and-go bottled beverage fridge and to-go shelving. Mooyah currently operates about 75 restaurants across 23 states.

November 30, 2020

Leasing Activity Office Texas

Keller Williams Signs 30,000 SF Lease for New San Antonio Office

by Taylor Williams November 30, 2020

SAN ANTONIO — Keller Williams Realty has signed a 30,000-square-foot, full-building lease at The Park at Vance Jackson for its new San Antonio office. The property consists of two 30,000-square-foot buildings that were completed in February 2020. Russell Noll of Transwestern and Deborah Bauer of Drake Commercial represented the landlord, The Park at Vance Jackson LLC, in the lease negotiations. Cynthia Lee of KW Commercial City View represented the tenant.

November 30, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 53-Unit Apartment Complex in Northeast Dallas

by Taylor Williams November 30, 2020

DALLAS — Marcus & Millichap has arranged the sale of Village Oaks, a 53-unit apartment complex that is situated on 3.5 acres at 9920 Forest Lane in northeast Dallas. Nick Fluellen, Bard Hoover and Joey Murry of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The trio also secured the buyer, an individual/private trust.

November 30, 2020

Civic Development Retail Texas

Major League Cricket To Develop First Stadium in Grand Prairie, Texas

by Taylor Williams November 25, 2020

GRAND PRAIRIE, TEXAS — Major League Cricket (MLC) has received approval from the City of Grand Prairie on a long-term lease agreement to redevelop the 5,445-seat AirHogs Stadium in Grand Prairie into the organization’s first major cricket venue in the United States. The stadium is currently the home field of the Texas Airhogs Minor League Baseball team. The project will increase the seating capacity to accommodate more than 8,000 spectators with additional and upgraded hospitality features and amenities. International architecture firm HKS has been tapped to design the project. Upon completion in 2022, the venue will house the Dallas franchise of MLC, as well as the headquarters of USA Cricket, the sport’s national governing body. MLC plans to launch its inaugural season in 2022, with the stadium expected to be ready for cricket by the spring of that year.

November 25, 2020

Loans Multifamily Seniors Housing Texas

Ziegler Arranges $77.1M Bond Financing for Seniors Housing Expansion in Dallas

by Taylor Williams November 25, 2020

DALLAS — Ziegler has arranged $77.1 million of bond financing for Presbyterian Village North, a continuing care retirement community in North Dallas. The proceeds of the bonds will finance an expansion project that will add 112 new independent living units in a five-story building named The Hawthorne. The community sits on a 66-acre campus and currently consists of 89 buildings with 253 independent living units, 101 assisted living units, 44 memory care units and a health center operating 106 skilled nursing beds. Of the 97 units being marketed, 72 percent are already pre-sold. The project also includes renovations to the community’s existing common areas.

November 25, 2020

Development Hospitality Texas

Hyatt Opens 219-Room Thompson Hotel in Downtown Dallas

by Taylor Williams November 25, 2020

DALLAS — Hyatt Hotels Corp. (NYSE: H) has opened the 219-room Thompson Hotel in downtown Dallas, the first property under the Thompson lifestyle brand in Texas. Designed by Merriman/Anderson Architects, the hotel is the product of a redevelopment of a historic building at 205 N. Akard St. The property’s 219 rooms include 52 suites and two penthouses, and guests can also enjoy access to two onsite culinary destinations.

November 25, 2020

Acquisitions Multifamily Texas

Colliers Negotiates Sale of 230-Unit Ridge at Trinity Apartments in Southeast Dallas

by Taylor Williams November 25, 2020

DALLAS — Colliers International has negotiated the sale of Ridge at Trinity Apartments, a 230-unit affordable housing community in southeast Dallas. The property, which consists of 19 buildings on 17.4 acres, was built in 1970 and renovated between 2015 and 2019. Amenities include a leasing office, onsite laundry facilities and open green spaces with playgrounds. Mark Allen and Courtland Charles of Colliers represented the seller, affordable housing owner-operator Hope Housing, in the transaction. The buyer and sales price were not disclosed.

November 25, 2020

Acquisitions Industrial NAI Texas

NAI Partners Brokers Sale of 50,000 SF Industrial Building in South Austin

by Taylor Williams November 25, 2020

AUSTIN, TEXAS — NAI Partners has brokered the sale of a 50,000-square-foot industrial building located at 4401 Supply Court in South Austin. Troy Martin of NAI Partners represented the buyer, CKD USA, the U.S. subsidiary of Japanese machine manufacturing firm CKD Corp. Joe Novek and Darryl Dadon of CBRE represented the seller. The new ownership plans to invest about $13 million in revamping the facility, which is expected to be operational in fall 2021 and bring about 70 new jobs to the area.

November 25, 2020

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