Texas

Jackson-Shaw Acquires 169 Acres in Fort Worth for 2.2 MSF Industrial Project

by Taylor Williams March 3, 2020

FORT WORTH, TEXAS — Locally based developer Jackson-Shaw has acquired 169 acres at the intersection of Altamesa Boulevard and Campus Drive in Fort Worth for the development of 46 Ranch Logistics Park, an industrial project that will ultimately span about 2.2 million square feet. Jackson-Shaw worked with the City of Fort Worth to rezone the rail-served site, which offers proximity to Interstates 35 and 20, from single-family residential to industrial. The first phase will feature 560,000 square feet of Class A space across three buildings that will be developed on a speculative basis. Construction of Phase I is scheduled to begin in June and to be substantially complete by the first quarter of 2021. Ridgemont Commercial Construction is the general contractor for the project, and GSR Andrade is the architect. Halff Associates is the civil engineer, and Stream Realty Partners is the leasing agency. Liberty Capital Bank provided construction financing.

March 3, 2020

Development Hospitality Texas

Swinerton Completes Renovations of 1,840-Room Sheraton Dallas Hotel

by Taylor Williams March 3, 2020

DALLAS — California-based general contractor Swinerton has completed the final phase of renovations of the Sheraton Dallas Hotel, a 1,840-room hotel in downtown Dallas that originally opened in 1959. Renovations included upgrades to all guestrooms, food and beverage outlets and the hotel’s 230,000 square feet of meeting and event space. Five new restaurant concepts — Open Palette, Moka Pot Coffee Shop, Draft Sports Bar & Lounge, The Parlor and Open Mkt. — are now in place at the hotel. The project team, which included design firms FlickMars and DLR Group, also installed new art and a rooftop garden with murals by local artist Falk Houben.

March 3, 2020

Development Office Texas

Hoar Construction Delivers 168,000 SF Office Project in North Austin

by Taylor Williams March 3, 2020

AUSTIN, TEXAS — Hoar Construction has delivered a 168,000-square-foot office project at the Paloma Ridge campus in North Austin. Designed by Sixthriver Architects and developed by Stream Realty Partners, the $17.6 million project is located less than a mile from Capital MetroRail Lakeline station. Amenities include private terraces on the third floor, a 2,000-square-foot fitness center, outdoor lounge, a jogging trail and bike storage space. The building is the third at Paloma Ridge, which houses Hewlett Packard Enterprise as one of its tenants.

March 3, 2020

Acquisitions Civic Texas

J. Beard Arranges Sale of 100,000 SF Legends Sports Complex in Metro Houston

by Taylor Williams March 3, 2020

SPRING, TEXAS — The J. Beard Real Estate Co. has arranged the sale of Legends Sports Complex, a 100,000-square-foot commercial property located at 602 Pruitt Road in the northern Houston suburb of Spring. The asset was built in 2007 on 14.8 acres. Jeff Beard of The J. Beard Real Estate Co. represented the seller, Caduceus Management, in the transaction. Kevin Barr of Mohr Partners represented the buyer, Church Project, which will use the property as its new headquarters.

March 3, 2020

Acquisitions Industrial Texas

SkyWalker Property Acquires 67,161 SF Office, Warehouse Asset in Arlington

by Taylor Williams March 3, 2020

ARLINGTON, TEXAS — SkyWalker Property Partners has acquired a 67,161-square-foot office and warehouse asset located at 14211 Industry St. in Arlington in a sale-leaseback deal. The seller and tenant, AMACS Process Tower Internals, a provider of process towers and vessels for the industrial and energy sectors, has signed a 15-year lease. The property was built in 1968 and has been expanded over the years. Clint Holland and Gary Walker of SkyWalker handled the acquisition on an internal basis. Zane Marcell of JLL represented AMACS.

March 3, 2020

Finance Insight Midwest Multifamily Northeast Southeast Texas Thought Leadership Video Western

Ready Capital: Making the Most of the Market Despite Election-Year Volatility

by Sarah Daniels March 3, 2020

The marketplace is wary in the lead-up to the 2020 election, but Anuj Gupta, president of Commercial Real Estate Lending with Ready Capital, says there’s opportunity for bridge lenders in the meantime as equity investors look for higher returns. Gupta believes rates will be lower for a longer period, although there is no telling what might happen after the election. Gupta feels confident about Ready Capital’s preferred strategy of focusing on small-to-medium loan sizes in secondary markets. In gateway cities, the company is supportive of creative solutions to high rent, like co-living, a sector that is expected to grow aggressively over the next few years. Meanwhile, Ready Capital is working to stay ahead of the curve by looking at more efficient ways to tackle lending in the small-to-medium sized real estate market with new technology. Watch the interview to learn more about how Ready Capital is taking advantage of the present while preparing for the future. This video is posted as part of REBusinessOnline’s Finance Insight series, covering MBA CREF 2020. Click here to subscribe to the Finance Insight newsletter, a four-week newsletter series, followed by video interviews from MBA CREF.

March 3, 2020

Development Mixed-Use Texas

RedLeaf, City of Cedar Park Form Partnership to Develop $350M Mixed-Use Project Near Austin

by Taylor Williams March 2, 2020

CEDAR PARK, TEXAS — Locally based developer RedLeaf Properties has entered into a public-private partnership with the City of Cedar Park, located north of Austin, to redevelop an area along Bell Boulevard into a mixed-use destination. The project, which will be branded The Bell District, is expected to have a total price tag of $350 million. The first phase of development is expected to include multiple acres of communal green space integrated with the new public library and restaurants, as well as two blocks of high-density residential buildings with ground-floor retail space. The second phase will feature residential and office development. RedLeaf plans to begin demolishing the existing structures on the site following the completion of the realignment of a section of U.S. Highway 183, a project that is expected to run through 2021.

March 2, 2020

Development Industrial Texas

Trammell Crow, Clarion Begin Work on 352,000 SF Distribution Center in North Houston

by Taylor Williams March 2, 2020

HOUSTON —A joint venture between Dallas-based Trammell Crow Co. and New York-based Clarion Partners has begun construction on Rankin 45 Distribution Center, a 352,000-square-foot industrial project in Houston. Designed by Powers Brown Architecture, the Class A property will be located at the northeast corner of Rankin Road and Interstate 45 on the city’s north side. Building features will include 32-foot clear heights, 259 parking spaces and 23 trailer parking spaces. Other project partners include A&F General Contractors and CBRE as the leasing agency. Completion of Rankin 45 Distribution Center is scheduled for August.

March 2, 2020

Development Oklahoma Retail Texas

Simon Breaks Ground on 340,000 SF Tulsa Premium Outlets

by Taylor Williams March 2, 2020

JENKS, OKLA. — Simon Property Group Inc. has broken ground on Tulsa Premium Outlets, a 340,000-square-foot, open-air retail and dining destination. The property is located just off the Creek Turnpike in Jenks, a southern suburb of Tulsa, and will be Simon’s 91st Premium Outlets development. Construction of the property is expected to generate 400 jobs, and the opening of the center is anticipated to create 800 new full- and part-time jobs. A completion date was not released.

March 2, 2020

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 44,800 SF Industrial Lease in Arlington

by Taylor Williams March 2, 2020

ARLINGTON, TEXAS — Lee & Associates has negotiated a 44,800-square-foot industrial lease at 400 International Parkway in Arlington. According to LoopNet Inc., the property features 22-foot clear heights, 88-foot truck court depths and 2,351 square feet of office space. Corbin Blount and Adam Graham of Lee & Associates represented the tenant, Go Green Industries, a provider of recycling services, in the lease negotiations. Mark Graybill and Colton Rhodes, also with Lee & Associates, represented the landlord, Lightning Propco II.

March 2, 2020

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