PFLUGERVILLE, TEXAS — Daiso has signed an 8,500-square-foot retail lease at Stone Hill Town Center in the northern Austin suburb of Pflugerville. The Japanese retailer of household and kitchenware products is backfilling a space formerly occupied by Kirkland’s Home and is targeting a fourth-quarter opening. Scott Espensen of Venture Commercial Real Estate represented Daiso in the lease negotiations. Houston-based NewQuest Properties owns Stone Hill Town Center.
FRIENDSWOOD, TEXAS — A partnership between two locally based firms, Tannos Development Group and Wolfgramm Capital, will develop a 106-acre mixed-use project in Friendswood, a southeastern suburb of Houston. Friendswood City Center will feature an apartment complex with roughly 500 units and a luxury hotel with a convention center that can house up to 500 people. Plans also call for approximately 150,000 square feet of retail and restaurant space and 200,000 square feet of medical and office space. The development will also have a 52-acre public park with more than four miles of walking and jogging trails and a fishing lake with a pier. Various infrastructural improvements are also being made as part of the project. The City of Friendswood is partnering with Tannos and Wolfgramm on Friendswood City Center, which represents more than $750 million in regional capital investment.
GRAYSON COUNTY, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a 76-acre industrial development site located along FM 1417 in Grayson County, about 70 miles north of Dallas. The site offers immediate proximity to Texas Instruments’ semiconductor manufacturing plant in Sherman and will be marketed to industrial users supporting that facility. John St. Clair, Davis Willoughby and Tyler Hemenway of Younger Partners represented the seller, a family estate, in the transaction. The buyer was a local entity doing business as Investment Catalysts LLC.
AUSTIN, TEXAS — Newmark has brokered the sale of Plaza on the Lake, a 120,789-square-foot office building in southwest Austin. The three-story building was originally constructed on 4.6 acres in 1985 and underwent a $5 million renovation in 2021. Chris Murphy, Robert Hill and Gary Carr of Newmark represented the seller, an undisclosed institutional investment firm, in the transaction. The buyer was an affiliate of Austin-based Endeavor Real Estate Group.
TEXAS — Walmart Health will open 18 new facilities across Texas in the coming months, including three clinics in the Houston area that opened earlier this year. Of the remaining 15 facilities, 10 will be located in the Dallas-Fort Worth metroplex, and the other five will also be in the Houston area. The location in the southwestern Houston suburb of Sugar Land marks the 50th nationwide for Walmart Health, which originally launched in 2019.
WESTLAKE, TEXAS — Weider Fitness & Health has signed a 5,500-square-foot office lease in the North Texas city of Westlake. The space is located within The Terraces, an eight-building, 1.1 million-square-foot development that was originally constructed as a campus for IBM and recently underwent a $25 million repositioning. Haley Hullett of JLL represented the landlord, Chicago-based Glenstar, which bought the property in 2019, in the lease negotiations.
AUSTIN AND TAYLOR, TEXAS — South Korea-based Samsung Electronics will receive up to $6.4 billion in direct funding under the CHIPS and Science Act for multiple projects at two separate locations in Central Texas. The U.S. Department of Commerce has signed a non-binding preliminary memorandum of terms (PMT) with the tech giant, which now plans to increase its investment in the state of Texas to $40 billion. Funding will be used for the development of new facilities in Taylor — roughly 35 miles northeast of Austin — as well as for the expansion of Samsung’s existing Austin facility. The proposed investment is expected to support the creation of more than 20,000 jobs, including 4,500 manufacturing positions. Samsung, which has been manufacturing computer chips in the United States since 1996, previously announced plans for the Taylor facilities and an investment of $17 billion in November 2021. The company also plans to claim the Department of the Treasury’s investment tax credit, which is expected to cover up to 25 percent of qualified capital expenditures. In Taylor, the manufacturing site will include two fabrication plants, a research-and-development (R&D) facility focused on the development and research of new technology and an advanced packaging facility …
MESQUITE, TEXAS — California-based investment firm CapRock Partners has acquired Peachtree Distribution Center, a 396,750-square-foot warehouse located in the eastern Dallas suburb of Mesquite. Built in 2001, the cross-dock property features 31-foot clear heights, 66 dock-high doors, three drive-in doors, 120-foot truck court depths (expandable to 175 feet), an ESFR sprinkler system and roughly 12,700 square feet of office space. Randy Baird, Ryan Thornton, Jonathan Bryan, Eliza Bachhuber, Nathan Wynne and Elliott Dow of CBRE represented the undisclosed seller in the transaction. CapRock Partners plans to make capital improvements to the property, which was fully leased to three tenants at the time of sale.
KATY, TEXAS — LTC Properties Inc. (NYSE: LTC) has provided a $12.7 million senior loan to Ignite Medical Resorts for the acquisition of a skilled nursing and assisted living campus in Katy, a suburb west of Houston. The campus was built in 2017 and includes 78 units (48 skilled nursing and 30 assisted living) and 104 licensed beds (70 skilled nursing and 34 assisted living). The five-year loan features full-term interest-only payments at a current rate of 9.15 percent and includes a capital expenditures investment of approximately $800,000 for campus improvements.
HOUSTON — Colliers has brokered the sale of an 81,500-square-foot industrial complex in northwest Houston. The six-building complex at 6002 W. 34th St. sits on 3.8 acres and was 95 percent leased at the time of sale. Jason Tangen and Paul Dominique of Colliers represented the seller, a local family that has owned and operated the park since its original construction in 1978. The name and representative of the buyer, as well as the sales price, were not disclosed.