HOUSTON AND CARROLLTON, TEXAS — Shoo Loong Kan has signed two leases in Texas, marking the first locations in the state for the Chinese hotpot concept. Plans include a 6,213-square-foot restaurant at West on West in Houston, as well as a 6,330-square-foot restaurant in the northern Dallas metro of Carrollton. Michael Pittman II, Michael Burgower and Rachel Granstrom of Cushman & Wakefield represented the tenant in the lease negotiations.
DENTON, TEXAS — Mississippi-based REIT EastGroup Properties has broken ground on a 244,000-square-foot, two-building industrial project in the North Texas city of Denton. Denton Exchange 35 will consist of a 114,000-square-foot building that is subdividable to 20,000 square feet and a 130,000-square-foot building that is subdividable to 40,000 square feet. Combined, the buildings will feature 53 dock-high-doors and parking for 239 cars and 34 trailers, with expansion capabilities for trailer parking at both facilities. Project partners include Alliance Architects, GMcivil, Rosenberger Construction and Stream Realty Partners as the leasing agent. A tentative delivery date was not disclosed.
NORMAN, OKLA. — Marcus & Millichap has brokered the sale of Campus Lodge, a 192-unit student housing property located about two miles from the University of Oklahoma campus in Norman. Built in 2004, Campus Lodge comprises 19 buildings that house 768 beds in three- and four-bedroom layouts. Amenities include a pool, sand volleyball court, basketball court, outdoor grilling and dining stations and a coffee bar. Patrick Mullowney and Joel Dumes of Marcus & Millichap represented the seller, The Collier Cos., in the transaction. The duo also procured the buyer, Denver-based investment firm Cardinal Group. Campus Lodge was 97 percent occupied at the time of sale.
SAN MARCOS, TEXAS — New Jersey-based investment firm Denholtz Properties has acquired Clovis Crossing, a 213,235-square-foot industrial building in San Marcos, located roughly midway between San Antonio and Austin. The newly constructed, two-building facility sits on 13 acres and features 32-foot clear heights. Mike Klein, Jon Mikula, Michael Johnson and John Beeler of JLL arranged $26.1 million in acquisition financing for the deal through Palladius Capital Management. Charles Strauss, Tom Weber and Trent Agnew, also with JLL, represented the seller, Freehill Development Co.
FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has arranged a 90,278-square-foot industrial lease at South Fort Worth Commerce Center. The two-building complex is located at the northeast corner of I-35W and Everman Parkway. Matt Carthey and Thomas Grafton of Holt Lunsford Commercial represented the landlord, IDI Logistics, in the lease negotiations. Andrew Johnson of Colliers represented the tenant, Kurita America, a provider of water treatment solutions.
PLANO, TEXAS — KCW Enterprises has signed a 38,180-square-foot lease renewal at an industrial flex facility located at 2600 Research Drive in Plano. According to LoopNet Inc., the property was built in 1998 and totals 82,545 square feet. Brian Pafford and Jared Laake of Bradford Commercial Real Estate Services represented the landlord, Kennington Research LLC, in the lease negotiations. Grace Bowers of Colliers represented the tenant.
ARLINGTON, TEXAS — Trademark Property Co. has unveiled plans for the redevelopment of Lincoln Square, a 45-acre shopping center in Arlington. The Fort Worth-based owner-operator plans to demolish about 229,000 square feet of the existing space and renovate another 65,000 square feet at the 40-year-old center beginning in the second quarter of next year. Trademark will rebrand the property as “Anthem” and redevelop it to feature 152,000 square feet of new retail and restaurant space, 125,000 square feet of office and coworking space, a hotel with up to 200 rooms and 355 apartments. Trademark acquired Lincoln Square in late 2022 and subsequently entered into a public-private partnership agreement with the City of Arlington to invest $150 million into the property’s redevelopment. Dwell Design Studio is the project architect.
SHERMAN, TEXAS — GREA, a multifamily brokerage firm with a dozen offices around the country, has negotiated the sale of Hilltop Village, a 248-unit affordable housing property in the North Texas city of Sherman. According to Apartments.com, Hilltop Village was built in 1969 and offers one-, two- and three-bedroom units. Residences are reserved for households earning 80 percent or less of the area median income. Amenities include a playground, volleyball court and outdoor grilling and dining stations. Mark Allen led the GREA team that brokered the deal. The seller was not disclosed. The buyer, Brazos Residential, plans to invest about $11 million in capital improvements to the property.
KINGWOOD, TEXAS — High Street Residential has broken ground on Reserve at West Lake, a 181-unit multifamily project located on the northern outskirts of Houston in Kingwood. High Street Residential is developing the project, which consists of 109 apartments and 72 townhomes and is the second phase of a larger development, in partnership with Japanese homebuilder Daiwa House Group. Residences will come in one-, two- and three-bedroom formats. Apartments will have an average size of 1,046 square feet, and townhomes will have an average size of 1,530 square feet. Amenities will include a pool, grilling areas, fitness center, resident lounge and an entertainment kitchen. W Partnership is the project architect, and Arch-Con Corp. is the general contractor. Delivery is slated for next summer.
LIBERTY HILL, TEXAS — Greysteel has arranged the sale of a 15-acre multifamily development site in Liberty Hill, about 40 miles north of Austin, that is approved for the construction of 345 units. The project, a construction timeline for which is still being finalized, will include a workforce housing component. J.R. Ellis of Greysteel brokered the deal. The buyer was a Dallas-based private investment group, and the seller was not disclosed.