Texas

JLL Negotiates Sale of 365,559 SF Winwood Town Center in Odessa, Texas

by Taylor Williams July 13, 2021

ODESSA, TEXAS — JLL has negotiated the sale of Winwood Town Center, a 365,559-square-foot regional shopping center located in the West Texas city of Odessa. The property sits on 40.4 acres and was 100 percent leased at the time of sale. Tenants include regional grocer H-E-B, Target, Ross Dress for Less, dd’s Discounts, Office Depot and Michaels. Restaurant users include Chick-fil-A, Jack in the Box and Taco Bell. Chris Gerard, Ryan Shore and Barry Brown of JLL represented the seller, Brixmor Property Group, in the transaction. Colby Mueck, Ryan West and Clint Coe of JLL arranged a 10-year acquisition loan through Frost Bank on behalf of the buyer, Houston-based Fidelis Realty Partners.

July 13, 2021

Acquisitions Hospitality Texas

Driftwood Capital Acquires 131-Room Hotel in Uptown Houston

by Taylor Williams July 13, 2021

HOUSTON — Driftwood Capital, an investment firm based in the Miami area, has acquired Hotel Indigo Houston at the Galleria, a 131-room property located in the city’s Uptown neighborhood. Built in 2001 and renovated in 2009, the property features more than 3,000 square feet of meeting and event space, a fitness center and an onsite restaurant called Crossroads Bar & Bistro. The seller was not disclosed.

July 13, 2021

Acquisitions Multifamily Texas

Bolour Associates Buys Multifamily Property in Metro Houston for $9.6M

by Taylor Williams July 13, 2021

HUMBLE, TEXAS — California-based Bolour Associates Inc. has purchased Northeast Pines, a 136-unit multifamily property located in the northern Houston suburb of Humble, for $9.6 million. Built in 1980, the property offers one- and two-bedroom units ranging in size from 420 to 970 square feet and amenities such as a clubhouse and a pool. Bolour Associates plans to implement a value-add program that will upgrade kitchens with new countertops, cabinetry, flooring and appliances. The company will also renovate amenity spaces as part of the 24-month capital improvement project. Robert Su of Su Real Estate Group represented the seller, a private investor, in the transaction.

July 13, 2021

Development Retail Texas

Mesquite City Council Approves Shadow Creek Crossing Retail Project

by Taylor Williams July 13, 2021

MESQUITE, TEXAS — The City Council of Mesquite, located east of Dallas, has approved a proposal for the development of a retail project that will be known as Shadow Creek Crossing. Shadow Creek Crossing will be developed on a seven-acre site adjacent to John D. Horn High School that is owned by an entity doing business as LF Gateway LP. At full build-out, Shadow Creek Crossing could span as much as 57,500 leasable square feet across six buildings. A firm construction timeline was not released.

July 13, 2021

Market Reports Office Texas Texas Market Reports

Demand for Class A Office Space, Flexible Work Routines Juxtaposed in Fort Worth

by Taylor Williams July 13, 2021

By Chris Doggett, executive vice president, Stream Realty Partners The allure of the Dallas-Forth Worth (DFW) market continues to make it one of the top corporate destinations in the country. This past year, DFW ranked number one in the nation in raw population growth. Specifically, an average of 328 people per day were added to the DFW fold, which equates to approximately 119,748 more residents this past year. This is truly an incredible stat and reflects the fact that the consistent, historically growth of DFW shows no signs of changing course. The cost of living, tax benefits and incredibly convenient location — directly in the middle of the Central Time Zone allowing for a three-hour flight time to anywhere in the continental United States — are second to none. The vast majority of new, Class A office transactions, including relocations from other states, have landed in new office developments in Irving, Uptown Dallas, the greater Legacy/Frisco area, Allen and Cypress Waters along the LBJ Freeway. This begs the question — why is the Fort Worth area not front and center for these deals? While many companies in Fort Worth have already returned to their offices, the thinking and processes behind …

July 13, 2021

Acquisitions Multifamily Texas

MC Cos. Acquires Two Metro Houston Apartment Communities Totaling 648 Units

by Taylor Williams July 12, 2021

KATY, TEXAS — Arizona-based investment and development firm MC Cos. has acquired Enclave at Cypress Park and Paramount, two adjacent apartment communities in the western Houston suburb of Katy totaling 648 units. Enclave at Cypress Park totals 384 units, and Paramount Apartments totals 264 units. According to Apartments.com, both properties offer one-, two- and three-bedroom units and amenities such as pools, fitness centers, spas and resident clubhouses. Clint Duncan and Matt Phillips of CBRE represented the undisclosed sellers in the transactions. Michael Thompson of CBRE arranged acquisition financing through MF1 Capital on behalf of the new ownership, which plans to combine and rebrand the properties as The Place at Barker Cypress. MC Cos. will also implement a value-add program to unit interiors and amenity spaces.

July 12, 2021

Acquisitions Industrial Texas

MDH Partners Buys Two South Texas Industrial Properties Leased to Goodman

by Taylor Williams July 12, 2021

CORPUS CHRISTI AND EDINBURG, TEXAS — Atlanta-based investment firm MDH Partners has purchased two industrial properties totaling 82,555 square feet in South Texas. The assets include a 40,680-square-foot warehouse in Corpus Christi that sits on 2.2 acres and a 41,875-square-foot building in Edinburg that is situated on 3.6 acres. Goodman Distribution Inc., which manufactures and distributes HVAC parts and systems, occupies both properties on 10-year, triple-net leases. Stream Realty Partners developed the buildings. Adam Abushagur and Tyler Sharp of Marcus & Millichap represented both parties involved in the deal.

July 12, 2021

Acquisitions Industrial Oklahoma Self-Storage Texas

Marcus & Millichap Brokers Sale of 296-Unit Self-Storage Facility in Shawnee, Oklahoma

by Taylor Williams July 12, 2021

SHAWNEE, OKLA. — Marcus & Millichap has brokered the sale of Bryan Street Storage, a 296-unit self-storage facility in Shawnee, an eastern suburb of Oklahoma City. The property, which offers 47,640 net rentable square feet, was built on 3.8 acres in 2009 and subsequently expanded in 2011 and 2020. Brian Kelly, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and buyer, both of which requested anonymity, in the transaction. Mark McCoy of Marcus & Millichap assisted in closing the deal as the broker of record.

July 12, 2021

Acquisitions Office Texas

Colliers Negotiates Sale of 41,661 SF Office Complex in Irving

by Taylor Williams July 12, 2021

IRVING, TEXAS — Colliers International has negotiated the sale of Regent Place, a 41,661-square-foot office complex in the Las Colinas area of Irving. Built on 2.1 acres in 1981 and renovated in 2010, the property offers proximity to Dallas-Fort Worth International Airport and other major state highways. Cody Payne of Colliers represented the buyer and seller, both of which were private investors that requested anonymity, in the transaction.

July 12, 2021

Leasing Activity Office Texas

Common Desk Opens 25,000 SF Coworking Space at Hall Park in Frisco

by Taylor Williams July 12, 2021

FRISCO, TEXAS — Common Desk, a Dallas-based provider of flexible workspace solutions, has opened a 25,000-square-foot coworking space at Hall Park, a 162-acre office development in Frisco. Members have access to unlimited conference room use, community events, private chat booths, wellness rooms and beverages from Fiction Coffee. Members can also use the fitness center, onsite dining options, car care center and full-service banks that operate out of Hall Park, as well as the property’s jogging trails, event lawn and sculpture garden.

July 12, 2021

Newer Posts

Older Posts