HOUSTON — Commercial contractor DPR Construction has signed a 12,609-square-foot office lease expansion at Phoenix Tower, a 34-story building located within Houston’s Greenway Plaza. Chris Nash and Walker Ryan of Colliers International represented DPR Construction in the lease negotiations. J.P. Hutcheson represented the landlord, Parkway, on an internal basis. Greenway Plaza is a 52-acre mixed-use campus situated between Houston’s Uptown and Downtown districts that comprises 11 buildings spanning 5 million square feet.
REBusinessOnline has compiled a number of commercial real estate industry reports and webinars to help readers find the information they need regarding coronavirus (COVID-19) and commercial real estate. The reports are organized by relevance and timeliness. (This page is no longer updated as of June 1, 2020.) Interested in coronavirus-related news items posted by REBusinessOnline? Click here for the feed. Interested in commercial real estate-related webinars focusing on responses to the pandemic? Click here for the list. Webinars Student Housing Business Up Close with Bill Bayless (05/04/2020) How to Maintain Leasing Velocity in Today’s Environment (04/30/2020) COVID-19 & the Impact on Student Housing: The CEO Perspective (04/17/2020) The Impact of COVID-19 on Student Housing (03/25/2020) Marcus & Millichap Marcus & Millichap Special Update: Multifamily Legislation (05/13/2020) The Shape of Things to Come: How Will the Economy and Retail Real Estate Look After the Global Health Crisis? (05/18/2020) InterFace Conference Group Seniors Housing Marketing and Sales During the Pandemic and Beyond (Upcoming 05/20/2020) California Retail Reboot — How Will California’s Retail and Restaurant Sector Recover Post-Coronavirus? (05/21/2020) Atlanta Retail Reboot (05/08/2020) Texas Retail Reboot (05/07/2020) The Short- and Long-term Impact of COVID-19 on Healthcare and Medical Office Real Estate (04/14/2020, Fee is …
AUSTIN, TEXAS — High Street Residential, a subsidiary of Trammell Crow Co., will develop The Block Yard, a 280,000-square-foot mixed-use project in Austin. Designed by JHP Architecture, the transit-oriented development will be situated on four acres at 2900 E. Martin Luther King Blvd, adjacent to the Capital Metro MLK Light-Rail Station and just two miles north of downtown. Plans for the project currently call for 302 residential units, 63,800 square feet of office space and 4,200 square feet of ground-floor retail space. Construction of the office and residential components is expected to be complete in July 2021 and January 2022, respectively. LEVY Architects has been tapped to design the commercial component and project interiors, and CBRE will handle leasing of the commercial space.
SAN ANTONIO — Los Angeles-based investment firm Entrada Partners has purchased Travis Park Plaza, 151,736-square-foot office building located at 711 Navarro St. in San Antonio’s central business district. Built in 1970 and renovated in 2001 and 2009, the seven-story building was 82 percent leased at the time of sale to tenant such as Conviva Care Solutions, Kairoi Residential and Tetra Tech. Todd Mills, Carrie Caesar and Hunter Mills of Cushman & Wakefield represented the undisclosed seller in the transaction. De’On Collins of JLL arranged acquisition financing for Entrada Partners, which will implement a multimillion-dollar capital improvement program. Transwestern has been tapped to lease and manage the property.
DALLAS — Marcus & Millichap has brokered the sale of Casa Bella, a 176-unit apartment community in Dallas. According to apartments.com, the property was built in 1974, features one-, two-, three- and four-bedroom units and offers amenities such as a pool, playground and outdoor grilling area. Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The duo also procured the buyer, a private investor. Both parties requested anonymity.
DALLAS — Dallas-based investment firm CanTex Capital has acquired a 92,000-square-foot industrial complex in Dallas. The property is situated on two contiguous lots and is located within two miles of Dallas Love Field Airport. CanTex will implement a capital improvement program at both buildings on the property, which will be rebranded as Stemmons Design Center. Stream Realty Partners will handle leasing of the upgraded space.
MESQUITE, TEXAS — Locally based developer Brosco Group has broken ground on Corner Stone Plaza, a 21,000-square-foot retail project in the eastern Dallas suburb of Mesquite. Weitzman, which is handling leasing of the center, is targeting a mix of restaurant, beauty, fitness and service tenants, as well as healthcare practices. Completion is slated for mid-2020.
When I talk to out-of-staters about Texas, they often think I mean “Dallas” when discussing the Metroplex as a whole. That’s when I explain how important the Fort Worth market is to our thriving and healthy Dallas-Fort Worth (DFW) retail scene. Weitzman, which operates offices in Texas’ major markets, has handled development, leasing and management in the Fort Worth market since our founding 30 years ago. Today, the Fort Worth area is home to some of the state’s most robust residential, commercial and cultural growth. In terms of retail, our most recent market survey shows that as of January 2020, Fort Worth’s retail market is about as healthy as it’s ever been. The Fort Worth-area market, which we’ll call Fort Worth for the sake of simplicity, largely encompasses Tarrant County. Today, Fort Worth reports a total multi-tenant retail inventory of 62.8 million square feet. As a reference, that figure accounts for about a third of the entire DFW retail market inventory, which clocks in at just over 200 million square feet. Fort Worth’s occupancy rate is around 93 percent, a healthy rate on par with the Dallas area’s occupancy. In terms of subcategories of retail product, the numbers of Fort …
CARROLLTON, TEXAS — Locally based developer Namhawk LLC will develop Carrollton Gateway, a $300 million mixed-use project that will be located adjacent to Interstate 35 in the northern Dallas suburb of Carrollton. The first phase of the transit-oriented development calls for a 325-unit multifamily property with a fitness center, pool and coworking and meeting spaces. Phase II will feature a 150,000-square-foot office building. Namhawk is also planning a hotel as part of the project. Namhawk has selected The Ratliff Group to provide construction and program management services for the project. A construction timeline has not yet been released.
AUSTIN, TEXAS — The Michaels Organization, a residential development and management firm, has broken ground on Zoey, a $59 million apartment community located at 5700 E. Riverside Drive in the Pleasant Valley neighborhood of Austin. The property will feature 307 units in studio, one- and two-bedroom formats and amenities such as a pool, dog wash station, fitness center, coworking spaces and resident lounges. Completion of the project, which will be Michaels’ first in Austin, is slated for late summer 2021. Dallas-based MSC Architects LLC is designing the community. Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia delivered an unnamed New York City-based REIT as an equity partner for the project.