LEWISVILLE, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 16,610-square-foot industrial lease renewal at 405 State Highway 121 Bypass in the northern Dallas suburb of Lewisville. Andrew Gilbert of Holt Lunsford represented the landlord in the lease negotiations. Jeff Boykin of Boykin Partners represented the tenant, healthcare solutions provider Careview Communications.
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JLL Arranges $991.8M in Financing for 17-Property National Portfolio
SAN FRANCISCO — JLL Capital Markets has secured $991.8 million in financing for a 17-property portfolio totaling more than 7 million square feet across seven states, including California, Arizona, Texas, Tennessee, Georgia, Virginia and Massachusetts. The portfolio’s five office assets comprise the majority of the asset’s value, with the remaining properties consisting of nine industrial facilities and three multifamily communities. The commercial property portfolio is leased to a diverse mix of tenants from a variety of industries, including financial services, media, software, government, food, law, internet, e-commerce and healthcare. Further details on the assets were not disclosed. The JLL team worked on behalf of CalSTRS and its advisor, PCCP, to arrange the 10-year, fixed-rate loan with New York Life Insurance Co. Kevin MacKenzie, Bruce Ganong, Brian Torp, Spencer Bergthold, Sam Godfrey, Bercut Smith and Andie Fezell of JLL represented the borrower in the financing.
DALLAS — Dallas County Judge Clay Jenkins has issued a shelter-in-place order for residents in response to COVID-19, a directive that outlines what essential services, including residential and commercial construction, may continue. The order went into effect at 9:00 p.m. on Tuesday, March 24 and will continue until 11:59 p.m. on Saturday, April 3. In terms of retail, restaurants may provide takeout and delivery services, and retailers such as dry cleaners, convenience stores, liquor stores, hardware stores and auto and bike repair shops may remain open under the directive. As of this writing, Dallas County had reported 169 total cases of COVID-19.
DALLAS — A joint venture between locally based investment firm Realty Capital Partners LLC and multifamily operator BKE Capital LLC has acquired Oak Lawn Heights, a 137-unit apartment community in Oak Lawn area of Dallas. The property offers one- and two-bedroom units and amenities such as a pool, dog park and a resident clubhouse. The new ownership will implement a multimillion-dollar renovation of the unit interiors, adding new appliances, countertops and washers and dryers, as well upgrading exterior spaces. The joint venture, which expects to complete the renovation project within two years, will also rebrand the community as The Maverick at Oak Lawn. The seller was Houston-based investment firm Barvin.
FORT WORTH, TEXAS — Dallas-based retail investment brokerage firm STRIVE has arranged the sale of Fossil Creek Plaza, a 68,500-square-foot shopping center located at the intersection of Western Center Boulevard and North Beach Street in Fort Worth. The property was built in 1990. STRIVE represented the Los Angeles-based seller in the transaction, with the firm’s Sam House procuring a Dallas-based investor as the buyer.
DALLAS — Stream Realty Partners has brokered the sale of a 42,420-square-foot industrial warehouse located at 8400 Ambassador Row in northwest Dallas. The property was fully leased to two tenants at the time of sale. Jamie Jennings, Jason Moser and Andre Rabinovich of Stream Realty Partners represented the seller, a Dallas-based private partnership, in the transaction. The buyer was locally based investment firm PrattCo Creekway.
TOMBALL, TEXAS — PDGL Partners LP has purchased 2.8 acres in the northern Houston suburb of Tomball for the development of a 39,000-square-foot industrial project. The multi-tenant office/warehouse property will be constructed on a speculative basis and will be located within Tomball Business & Technology Park. The groundbreaking is slated for late 2020. Tom Condon Jr. of Colliers International represented the seller, Tomball Economic Development Corp., in the land sale.
HOUSTON — In response to the spread of COVID-19, Houston Mayor Sylvester Turner and Harris County Judge Lina Hidalgo have issued a stay-at-home order to residents of all municipalities in Harris County, according to multiple news outlets including The Houston Business Journal and KXAN, NBC’s Austin affiliate. Citing a press conference held Tuesday morning, the latter outlet reports that the directive will go into effect at midnight tonight and last until Friday, April 3. Essential services, including restaurant takeout, will remain open, but public gatherings of all types have been banned.
SCHERTZ, TEXAS — Cushman & Wakefield has negotiated the $25.7 million sale of a 101,347-square-foot industrial building that is fully leased to FedEx Freight in the Central Texas city of Schertz. John Kuhn, David Tighe and Daniel McBride of Cushman & Wakefield represented the buyer, S&B Detrick LP, in the transaction. Mollie Alteri Joey Odom, Mike Sladich, and Maggie Holmes of Stan Johnson Co. represented the seller.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Copper Creek, a 274-unit multifamily property in Fort Worth. The community was built on 12.4 acres in 1986 and was renovated in 2013 and 2017. Amenities include a pool, soccer field and a playground. Al Silva of Marcus & Millichap represented the seller, Florida-based DIJ Properties, in the transaction. Silva also procured the buyer, a Texas-based private investment firm.