Texas

Biotech Firm VGXI to Open 240,000 SF Life Sciences Facility in Metro Houston

by Taylor Williams November 16, 2020

CONROE, TEXAS — VGXI Inc., a biotechnology firm that supports the gene therapy and DNA vaccine industries, will open a new life sciences and headquarters facility in Conroe, about 40 miles north of Houston. Local media outlets, including Community Impact Newspaper and the Houston Business Journal, report that the facility will span 240,000 square feet. The company’s new space will be located within Deison Technology Park and will allow VGXI to quintuple its current production capacity. BE&K Building Group is handling the design and build of the project. Construction is underway, and the facility is expected to be operational by the first quarter of 2022.

November 16, 2020

Leasing Activity Retail Texas

Cowboys Fit Opens 57,000 SF Fitness Center in Pflugerville, Texas

by Taylor Williams November 16, 2020

PFLUGERVILLE, TEXAS — Cowboys Fit, a concept that brings the fitness equipment and programs of the Dallas Cowboys to regular users, has opened a 57,000-square-foot facility in the northern Austin suburb of Pflugerville. The space is located at 1401 Town Center Drive and features a basketball court, indoor pool, outdoor training area and a childcare area. Members also have access to boutique-style fitness classes like yoga, spin, barre and circuit training.

November 16, 2020

Development Office Texas

Greenstar Development Completes 32,900 SF Office Project in Austin’s Rosedale District

by Taylor Williams November 16, 2020

AUSTIN, TEXAS — Austin-based Greenstar Development has completed 49 Street Office Park, a 32,900-square-foot adaptive reuse project in the Rosedale neighborhood of Austin. Designed by Mark Odom Studio, the two-story building features three office spaces connected by outdoor work areas. Franklin-Alan served as the general contractor for the project. Architecture firms Britt Design Group and Thirteen23 have committed as tenants to the building.

November 16, 2020

Development Office Texas

Cawley Partners to Develop Three Office Buildings at Grandscape in Metro Dallas

by Taylor Williams November 13, 2020

THE COLONY, TEXAS — Dallas-based Cawley Partners will develop three office buildings totaling more than 1.5 million square feet at Grandscape, a 433-acre mixed-use destination located in the northern Dallas suburb of The Colony. Hoefer Wysocki is handling design of the new buildings, all of which will rise 17 stories and feature 500,000 square feet of Class A space. A construction timeline is still being established as the development team looks for a lead tenant for the project. Nebraska Furniture Mart is the lead developer of Grandscape and anchors the development’s retail component along with sporting goods store Scheels.

November 13, 2020

Acquisitions Office Texas

Lexington Realty Sells Stake in Metro Houston Office Building Leased to Dow Chemical for $192M

by Taylor Williams November 13, 2020

LAKE JACKSON, TEXAS — Lexington Realty Trust (NYSE: LXP) has sold its interest in an office building in Lake Jackson, a city located south of Houston, for $192 million. Built in 2016, the 664,100-square-foot building is situated on a 34.1-acre site and was fully leased to Dow Chemical, which also operates a nearby manufacturing plant, at the time of sale. The buyer was not disclosed. In announcing this news, Lexington also disclosed the purchase of a 201,784-square-foot warehouse and distribution center in Phoenix that is fully leased to an unspecified e-commerce firm.

November 13, 2020

Acquisitions Multifamily Texas

IPA Negotiates Sale of 204-Unit Heritage Park Apartments in Arlington

by Taylor Williams November 13, 2020

ARLINGTON, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Heritage Park, a 204-unit apartment community in Arlington. The garden-style property was built on seven acres in 1983 and features one- and two-bedroom units. Amenities include a pool, 24-hour fitness center, outdoor kitchen and grilling area, a new dog park and a newly renovated clubhouse. Tampa-based American Landmark Apartments sold the property to WAK Management Co. for an undisclosed price. Drew Kile, Will Balthrope, Joey Tumminello and Grant Raymond of IPA, along with Nick Fluellen and Bard Hoover of Marcus & Millichap, represented both parties in the deal.

November 13, 2020

Development Industrial Texas

Johnson Development to Build 129,450 SF Spec Industrial Project in Arlington

by Taylor Williams November 13, 2020

ARLINGTON, TEXAS — South Carolina-based Johnson Development Associates Inc. will build Forum Commerce Center, a 129,450-square-foot speculative industrial project that will be located in the Great Southwest submarket in Arlington. Building features will include a cross-dock configuration, 32-foot clear heights, 24 dock doors, 84 car parking spaces (expandable) and nine trailer parking stalls. Cushman & Wakefield is handling leasing of the project, which is expected to be complete in the second quarter of 2021.

November 13, 2020

Industrial Leasing Activity Texas

Custom Ink Signs 90,200 SF Industrial Lease Renewal Near Fort Worth

by Taylor Williams November 13, 2020

FLOWER MOUND, TEXAS — Custom Ink, a provider of printing services for the apparel industry, has signed a 90,200-square-foot industrial lease renewal at Lakeside Commerce Center in the Fort Worth suburb of Flower Mound. Blake Kendrick and Mac Hall of Stream Realty Partners represented the landlord, Stockbridge, in the lease negotiations. Chris Stout of JLL represented the tenant.

November 13, 2020

Loans Multifamily Texas

JLL Provides Agency Acquisition Loan for 324-Unit Apartment Community in West Dallas

by Taylor Williams November 12, 2020

DALLAS — JLL has provided an undisclosed amount of Fannie Mae acquisition financing for Los Altos Trinity Green, a 324-unit apartment community in West Dallas. Built in 2019 as Alta Trinity Green, the property is part of the 24.8-acre Trinity Green residential district that features proximity to multiple office hubs and retail options. Units come in studio, one-, two- and three-bedroom formats. Amenities include a pool, outdoor lounge, rooftop deck, clubhouse and game room, fitness center and a dog washing station. Susan Hill and Cortney Cole of JLL originated the financing, which was structured with a 10-year term, a fixed interest rate of 2.62 percent and five years of interest-only payments, on behalf of the borrower, Houston-based investment firm Barvin. The seller was Wood Partners.

November 12, 2020

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 350-Unit Self-Storage Facility in Houston

by Taylor Williams November 12, 2020

HOUSTON — Marcus & Millichap has brokered the sale of West Bellfort Self Storage, a 350-unit facility in southwest Houston. The property was built on 4.3 acres in 2008 and features 42,925 net rentable square feet of non-climate-controlled space. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Houston-based limited liability company, in the transaction. A Dallas-based limited liability company purchased the asset for an undisclosed price.

November 12, 2020

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