Texas

Presidium Breaks Ground on 290-Unit Apartment Community in Metro Dallas

by Taylor Williams August 20, 2020

GRAND PRAIRIE, TEXAS — Texas-based developer Presidium Group has broken ground on Presidium Hill Street, a 290-unit apartment community in Grand Prairie, roughly midway between Dallas and Fort Worth. Designed by Dallas-based O’Brien Architects, the four-story property will feature amenities such as a pool, business center with conference rooms, fitness center, rooftop terrace, a pet grooming area and bike storage space. Completion is slated for mid-2022. Veritex Community Bank provided construction financing.

August 20, 2020

Civic Development Texas

Cadence McShane Underway on Renovation of Austin High School

by Taylor Williams August 20, 2020

AUSTIN, TEXAS — General contractor Cadence McShane is underway on a project to renovate Austin High School, the state capital’s oldest high school that is located at 1715 W. Cesar Chavez St. The renovation project will add 22,000 square feet of facilities to support the dance and athletic programs, as well as modernized gyms and a new glass stair tower on the south side of the main building. O’Connell Robertson designed the project. The school will be conducting virtual learning classes beginning Sept. 8.

August 20, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 179-Unit Colony Apartments in Irving

by Taylor Williams August 20, 2020

IRVING, TEXAS — Marcus & Millichap has arranged the sale of The Colony, a 179-unit apartment community in Irving. Built in phases in the 1960s, the property offers proximity to multiple schools, as well as the 12,000-acre Las Colinas business and entertainment district. The Colony’s amenities include three pools, a dog park and onsite laundry facilities. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Florida-based Capital Vision Management, and procured the buyer, a Dallas-based private investment group.

August 20, 2020

Leasing Activity Office Texas

Hoover Ferguson Signs 16,603 SF Office Headquarters Lease in Metro Houston

by Taylor Williams August 20, 2020

KATY, TEXAS — Hoover Ferguson, a provider of bulk containers and chemical tanks, has signed a 16,603-square-foot office lease at Katy Ranch Office for its new corporate headquarters. Approximately 60 employees will relocate from the current headquarters building at 2135 Highway 6 S. in Houston beginning in December. Sam Hansen and Doug Pack of Avison Young represented the landlord, Freeway Properties, in the lease negotiations.

August 20, 2020

Development Office Texas

Kaizen to Develop 200,000 SF Spec Office Project at District 121 in McKinney

by Taylor Williams August 19, 2020

MCKINNEY, TEXAS — Kaizen Development Partners, in a public-private partnership with the McKinney Economic Development Corp., will develop a 200,000-square-foot speculative office project within the District 121 mixed-use development in the northern Dallas suburb of McKinney. Construction of the eight-story, Class A building is expected to begin in the first quarter of 2021 and to be complete in the second quarter of 2022. Perkins & Will is designing the project, and JLL is handling leasing.

August 19, 2020

Loans Multifamily Texas

Phillips Realty Capital Arranges $63.2M Acquisition Loan Through Freddie Mac for Plano Apartments

by Taylor Williams August 19, 2020

PLANO, TEXAS — Maryland-based mortgage banker Phillips Realty Capital has arranged a $63.2 million Freddie Mac loan for the acquisition of Evoke, a 459-unit apartment community located in the northern Dallas metro of Plano. Built in 2017, the property features one-, two- and three-bedroom units with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, sauna, playground, business center, dog park and a resident clubhouse. The borrower, a partnership between CAF Capital Partners and a family office operating as The Generic Management, purchased the asset in a 1031 exchange. Adam Bieber and William Lawson led the transaction for Phillips.

August 19, 2020

Acquisitions Multifamily Texas

IPA Brokers Sale of 286-Unit Jefferson Eastshore Apartments in Irving

by Taylor Williams August 19, 2020

IRVING, TEXAS — Institutional Property Advisors, a division of Marcus & Millichap, has brokered the sale of Jefferson Eastshore, a 286-unit apartment community in Irving. Built in 2018, the property is situated on Lake Carolyn within Irving’s Las Colinas business district. Units come in one- and two-bedroom floor plans, and amenities include a pool, business center, resident lounge, fitness center and outdoor grilling areas. Drew Kile, Will Balthrope, Joey Tumminello and Grant Raymond of IPA represented the seller, locally based developer JPI, in the transaction. The team also procured the buyer, an affiliate of Lone Star Funds.

August 19, 2020

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Negotiates Sale of 287-Unit Self-Storage Facility in Metro Houston

by Taylor Williams August 19, 2020

CYPRESS, TEXAS — Marcus & Millichap has negotiated the sale of 290 Storage, a 287-unit self-storage facility located on five acres in the northwestern Houston suburb of Cypress. The facility comprises 169 climate-controlled and 118 non-climate-controlled units across 53,015 net rentable square feet. Brian Kelly, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller in the transaction. Additional terms of sale were not disclosed.

August 19, 2020

Leasing Activity Retail Texas

Harbor Freight Tools to Open 16,000 SF Store in Metro Austin This Week

by Taylor Williams August 19, 2020

GEORGETOWN, TEXAS — Harbor Freight Tools, a discount hardware and equipment retailer based in California, will open a 16,000-square-foot store in the northern Austin suburb of Georgetown this week. The store will be located within Republic Square, a retail center at the northeast corner of Interstate 35 and Williams Avenue that also houses tenants such as Dollar Tree, Starbucks and Chipotle Mexican Grill. Jeff Lewis and Brett Maze of Weitzman handled lease negotiations on behalf of the locally based landlord. CLD Realty represented the tenant.

August 19, 2020

Acquisitions Multifamily Texas

AmCal Equities Acquires 311-Unit Circuit Apartments in Downtown Houston

by Taylor Williams August 18, 2020

HOUSTON — California-based investment firm AmCal Equities has acquired Circuit Apartments, a 311-unit multifamily located near Minute Maid Park in downtown Houston. Built in 2015, the property features one- and two-bedroom units and amenities such as a pool, fitness center, outdoor grilling areas, resident clubhouse and a business center. Lane Kommer of Henry S. Miller Brokerage represented AmCal Equities in the transaction. A Dallas-based developer sold the asset for an undisclosed price.

August 18, 2020

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