ELGIN, TEXAS — Houston-based self-storage developer The Jenkins Organization has broken ground on a 208-site RV resort in Elgin, about 25 miles northwest of Austin. Jenkins will operate the new park under the Great Escapes brand. Amenities will include a clubhouse with a kitchen, a resort-style pool, fitness center, outdoor grilling areas and a dog park. The opening of the facility, which will be Jenkins’ fourth Great Escapes location, is scheduled for winter 2021.
GRAPEVINE, TEXAS — Local automotive dealer Sewell BMW of Grapevine has signed a 252,400-square-foot industrial lease at 1717 W. Airfield Drive in the Fort Worth suburb of Grapevine. According to LoopNet Inc., the property was built in 1989 and totals approximately 500,000 square feet. Blake Kendrick, Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, Clarion Partners, in the lease negotiations. Ben Sumner with Centurion Real Estate Partners represented the tenant.
GRAND PRAIRIE, TEXAS — Sign manufacturer Optimal Elite Management LLC has purchased a 63,483-square-foot office/warehouse building located in the central metroplex city of Grand Prairie. The two-story building is situated on 9.5 acres within Great Southwest Industrial Park and comprises 46,950 square feet of light manufacturing space and 16,533 square feet of office space. The seller, Breg Inc., will continue to occupy the site for the next six months through a sale-leaseback. Noah Dodge and Jason Finch of Bradford Commercial Real Estate Services represented Optimal Elite Management in the deal. Steve Koldyke, Brian Gilchrist and Chris Powers of CBRE represented the seller.
AUSTIN, TEXAS — An affiliate of San Francisco-based investment management firm The Axton Group has purchased the 492-room Renaissance Austin Hotel for $70 million. The hotel, which is part of the Marriott International family of brands and is located on the city’s north side, includes 88 suites and 77,600 square feet of meeting and event space. An affiliate of Walton Street Capital LLC provided an undisclosed amount of acquisition financing for the transaction. Eastdil Secured served as financial advisor. The seller was not disclosed. Axton Group plans to upgrade the meeting rooms and other common spaces.
NEW BRAUNFELS, TEXAS — Locally based grocer H-E-B will open a new, 122,222-square-foot store at 651 S. Walnut Ave. in the San Antonio suburb of New Braunfels. An existing 99,000-square-foot H-E-B store opened in that market in 1994. The project, construction of which is slated to begin early next year, has a price tag of $17.5 million. The opening is slated for the fourth quarter of 2021.
PLANO, TEXAS — Mooyah Burgers, Fries & Shakes, a Plano-based fast casual concept, will open 10 new restaurants throughout the metroplex, an expansion that is expected to create about 250 new jobs. All 10 of these locations will feature the brand’s new prototype with new dining zones, digital menus, a grab-and-go bottled beverage fridge and to-go shelving. Mooyah currently operates about 75 restaurants across 23 states.
SAN ANTONIO — Keller Williams Realty has signed a 30,000-square-foot, full-building lease at The Park at Vance Jackson for its new San Antonio office. The property consists of two 30,000-square-foot buildings that were completed in February 2020. Russell Noll of Transwestern and Deborah Bauer of Drake Commercial represented the landlord, The Park at Vance Jackson LLC, in the lease negotiations. Cynthia Lee of KW Commercial City View represented the tenant.
DALLAS — Marcus & Millichap has arranged the sale of Village Oaks, a 53-unit apartment complex that is situated on 3.5 acres at 9920 Forest Lane in northeast Dallas. Nick Fluellen, Bard Hoover and Joey Murry of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The trio also secured the buyer, an individual/private trust.
GRAND PRAIRIE, TEXAS — Major League Cricket (MLC) has received approval from the City of Grand Prairie on a long-term lease agreement to redevelop the 5,445-seat AirHogs Stadium in Grand Prairie into the organization’s first major cricket venue in the United States. The stadium is currently the home field of the Texas Airhogs Minor League Baseball team. The project will increase the seating capacity to accommodate more than 8,000 spectators with additional and upgraded hospitality features and amenities. International architecture firm HKS has been tapped to design the project. Upon completion in 2022, the venue will house the Dallas franchise of MLC, as well as the headquarters of USA Cricket, the sport’s national governing body. MLC plans to launch its inaugural season in 2022, with the stadium expected to be ready for cricket by the spring of that year.
DALLAS — Ziegler has arranged $77.1 million of bond financing for Presbyterian Village North, a continuing care retirement community in North Dallas. The proceeds of the bonds will finance an expansion project that will add 112 new independent living units in a five-story building named The Hawthorne. The community sits on a 66-acre campus and currently consists of 89 buildings with 253 independent living units, 101 assisted living units, 44 memory care units and a health center operating 106 skilled nursing beds. Of the 97 units being marketed, 72 percent are already pre-sold. The project also includes renovations to the community’s existing common areas.