HOUSTON — Natural gas provider Venture Global LNG has signed a 58,514-square-foot office lease at 5 Houston Center, a 581,000-square-foot building located at 1401 McKinney St. in downtown Houston. The company is doubling the size of its footprint at the Class A building, which was renovated in 2019 and features a coffee bar, fitness center and tenant lounge. Beau Bellow and Jay Farmer of JLL represented the tenant in the lease negotiations. Transwestern Real Estate Services represented the landlord, Spear Street Capital.
SEGUIN, TEXAS — Marcus & Millichap has brokered the sale of Ol’ 90 RV Park, a 40-site property in Seguin, a city located northeast of San Antonio. Robert Denninger and Brad Dorsey of Marcus & Millichap represented the seller and procured the buyer in the transaction. A local lender provided acquisition financing for the deal.
DALLAS — Newmark Knight Frank (NKF) has negotiated a 27,672-square-foot office lease at 4 Park Central, located just inside the Interstate 635 loop in North Dallas. John Beach of NKF represented the tenant, payment processing firm FPT Operating Co. LLC, in the lease negotiations. Younger Partners represented the landlord, McKnight Park Central LLC.
KATY, TEXAS — National Property Holdings (NPH), a Houston-based industrial developer and owner, is underway with Katy Prairie Business Park, an 87-acre industrial project located in the western Houston suburb of Katy. At full buildout, the project will span approximately 1.1 million square feet across three tilt-wall buildings. The development’s first facility has been underway for a few months. Dallas-based design-build firm ARCO Design/Build Inc. broke ground last December on a 59,000-square-foot warehouse and distribution center within the park for Domino’s Pizza, progress of which can be seen here. The facility is expected to be complete in the fourth quarter and support more than 300 Domino’s Pizza restaurants across South Texas. “We are delighted Domino’s selected National Property Holdings to develop its new supply chain center and fresh pizza dough production line in our first building at Katy Prairie Business Park,” says Ryan Lovell, vice president of real estate for NPH. In addition to building the Domino’s facility, NPH is now expanding the park’s infrastructure to make way for the other two buildings. This work includes excavating detention ponds totaling approximately 20 acres, extending the public water line by half a mile, implementing a wastewater collection system and lift station …
DENTON, TEXAS — Locally based general contractor KWA Construction has completed The Village at Rayzor Ranch, a 300-unit multifamily community located within the 400-acre Rayzor Ranch Town Center development in Denton. The property offers amenities such as complimentary concierge services, a pool with cabanas, fitness center with a yoga studio, pickleball and bocce ball courts and a dog park with a grooming station. EPC Real Estate Group developed the community, and Studio A Architecture designed it.
DALLAS — Dallas-based Ridgeline Capital Partners has acquired 10 medical office buildings totaling 99,072 square feet throughout the Dallas-Fort Worth (DFW) metroplex. The seller and sales price were not disclosed, but Ridgeline raised $5.3 million in equity for the deal from sources on Oregon-based investment platform CrowdStreet. All buildings were fully leased at the time of sale, with dialysis provider U.S. Renal Care being the sole or primary tenant at each property. CIT Group Inc. arranged $21 million in acquisition financing on behalf of Ridgeline.
TYLER, TEXAS — Alabama-based Johnson Development will build a VA Outpatient Clinic in Tyler, a city located about 100 miles east of Dallas. BL Harbert is the general contractor for the project, which is expected to carry a construction timeline of 16 to 22 months. Gabriel Silverstein and Louis D’Lando of SVN | Angelic structured and placed construction financing for the project, which will be developed as part of a quintet of VA Outpatient Clinics in Texas, Florida, Michigan and Missouri that will collectively span more than 303,000 square feet.
AUSTIN, TEXAS — Tempe, Ariz.-based manufacturer Benchmark Electronics Inc. has signed a 44,680-square-foot industrial lease extension at 200 Parker Drive in North Austin. Andrew Hueser, Sherry Gubera and Jesse Weber of Newmark Knight Frank represented the tenant in the lease negotiations. JLL represented the landlord, Icon Owner Pool 6 Austin LLC.
BEDFORD, TEXAS — Marcus & Millichap has arranged the sale of an 8,750-square-foot office building located at 405 Airport Freeway in Bedford, a suburb of Fort Worth. Ron Hebert and Blake Burnett of Marcus & Millichap represented the seller and procured the 1031 exchange buyer, both of which were private investors that requested anonymity.
FRISCO, TEXAS — Locally based developer Sam Moon Group will open the Hyatt Regency Frisco, a 303-room luxury hotel located at the intersection of Preston Road and the Sam Rayburn Tollway in Frisco on June 1. Construction began in May 2018. The 18-story hotel is connected to Stonebriar Mall, a 1.7 million-square-foot shopping and dining destination. Brookfield Properties owns the mall, with Nordstrom and Dillard’s as anchor tenants. A number of entertainment concepts such as Kidzania, Dave & Buster’s and iFly Dallas indoor skydiving are also located near the hotel. In addition, seven sports teams, including the Dallas Cowboys, Frisco RoughRiders (baseball) and FC Dallas (soccer) are located within a few miles of the property. “Frisco is a modern city brimming with attractions, and the new Hyatt Regency Frisco will reflect this contemporary mindset,” says developer Daniel Moon. “This bustling city was once a dusty cattle drive trail that was later transformed by the railroad through the North Texas plains, and now it’s a tourist destination renowned for shopping, stadiums, conventions and entertainment. Our hotel will celebrate the spirit of this vibrant community.” Amenities at the hotel include a 27,500-square-foot conference center, lobby bar, two restaurants and an outdoor pool. HKS …