AUSTIN, TEXAS — Web hosting platform Wordpress Engine has signed a 22,536-square-foot office lease at Lavaca Plaza, a four-building office complex located at 504 Lavaca St. in Austin’s CBD. The property was built in 1980 and remodeled in 2001. Marc Vanderslice, Nate Stricklen and John Gump of CBRE represented the tenant in the lease negotiations. Matt Levin and Jason Steinberg of Equitable Commercial Realty represented the landlord, Unico Properties.
HOUSTON — Avison Young has negotiated a 21,091-square-foot office lease at 777 N. Eldridge Parkway in Houston’s Energy Corridor. Anthony Squillante and Josh Morrow of Avison Young represented the tenant, civil engineering firm Van De Wiele & Vogler. Jon Dutton represented the landlord, Granite Properties, on an internal basis. Van De Wiele & Vogler plans to move about 50 employees into its new space in the third quarter.
It’s no question that 2020 has become a turning point in history. Within a few short weeks, what was a booming time in our industry has changed in the blink of an eye. Although the good times may not last forever, it’s safe to say many didn’t expect a sudden change so soon — and on such a large scale. While health remains the nation’s top priority, COVID-19 has taken a toll in some shape or form on plenty of industries in the weeks following its arrival in the United States, with retail unquestionably being one of the hardest hit. However, innovative players are still finding opportunities. Plenty of retailers were already adapting to a changing market defined by e-commerce, and their improvements were unknowingly preparing them for a world under COVID-19 restrictions and limitations. Dinner at a Tap Food delivery apps have become saving graces since COVID-19 changed the daily lives of Americans. Delivery apps such as DoorDash, Uber Eats and Favor are allowing customers who may not want or be able to leave their homes to support their favorite restaurants. While one benefit of these apps would usually be supporting increased sales and avoiding standing in line, these …
SAN ANTONIO — Houston-based Sun Holdings Group has acquired Tradehouse at Bulverde Marketplace, a 330-unit apartment community located within the 104-acre Bulverde Marketplace mixed-use development in north central San Antonio. Built in 2018, the property features one- and two-bedroom units with dark wood cabinetry, stainless steel appliances and quartz countertops. Amenities include a pool with outdoor kitchens, a fitness center, billiards room and a social lounge. David Roth of Matthews Real Estate Investment Services represented the seller, The NRP Group, an Ohio-based development and investment firm, in the transaction. Cutt Abelson of Berkadia arranged an undisclosed amount of Freddie Mac acquisition financing for the transaction.
COPPELL, TEXAS — Four new office tenants have signed leases at Cypress Waters, a 1,000-acre mixed-use development by Billingsley Co. that is located near DFW International Airport in Coppell. Goosehead Insurance has leased 12,348 square feet; Artisan Design Group LLC has inked a deal for 9,542 square feet; Northstar Builders Group has signed a lease for 5,819 square feet; and Robert Half has leased 6,217 square feet. Marijke Lantz represented Billingsley internally in all lease negotiations.
GRAND PRAIRIE, TEXAS — The City of Grand Prairie, located roughly midway between Dallas and Fort Worth, has purchased a 12.3-acre site along South State Highway 161 for the development of an industrial service center. Todd Noonan of Stream Realty Partners represented the undisclosed seller in the transaction. Pat Watson-Capps of Texas Lone Star Realtors represented the buyer. Additional project details were not disclosed.
SHERMAN, TEXAS — CBRE has negotiated the sale of a 61,000-square-foot, three-building industrial property located at 2709, 2713 and 2717 Fallon Drive in the North Texas city of Sherman. Jared Aubrey, Michael Austry and Johnny Dunn of CBRE represented the buyer, Fallon Industrial LLC, in the transaction. The seller was Datavault Joint Venture.
FRISCO, TEXAS — Marcus & Millichap has brokered the sale of a 9,941-square-foot freestanding commercial property net-leased to Kiddie Academy in Frisco, located north of Dallas. Ron Hebert, Ryan Wolf and Vincent Knipp of Marcus & Millichap represented the seller in the transaction. Wolf and Knipp also procured the buyer, another private investor. Kiddie Academy is based in Abingdon, Maryland, and has more than 250 franchised locations across 30 states and Washington, D.C.
WACO, TEXAS — JLL has arranged construction financing for The Riverfront Lofts, a 266-unit multifamily project in Waco that represents Phase I of The Riverfront mixed-use development. The community will feature a fitness center, coffee lounge, entertainment and gaming area, a community kitchen and a business center. First United Bank provided the floating-rate loan to the developer, Dallas-based Catalyst Urban Development. Jeremy Sain of JLL placed the debt. An expected completion date was not released.
GARLAND, TEXAS — Synnex Corp., a California-based software and IT firm, has signed a 117,206-square-foot industrial lease at 1601 S. Shiloh Road in the northeastern Dallas suburb of Garland. According to LoopNet Inc., the property was built in 2019. Trevor Atkins of CBRE represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.