Texas

KWA Construction Completes 300-Unit Apartment Project in Denton, Texas

by Taylor Williams May 11, 2020

DENTON, TEXAS — Locally based general contractor KWA Construction has completed The Village at Rayzor Ranch, a 300-unit multifamily community located within the 400-acre Rayzor Ranch Town Center development in Denton. The property offers amenities such as complimentary concierge services, a pool with cabanas, fitness center with a yoga studio, pickleball and bocce ball courts and a dog park with a grooming station. EPC Real Estate Group developed the community, and Studio A Architecture designed it.

May 11, 2020

Acquisitions Healthcare Loans Texas

Ridgeline Capital Partners Acquires 10 Medical Office Buildings in DFW

by Taylor Williams May 11, 2020

DALLAS — Dallas-based Ridgeline Capital Partners has acquired 10 medical office buildings totaling 99,072 square feet throughout the Dallas-Fort Worth (DFW) metroplex. The seller and sales price were not disclosed, but Ridgeline raised $5.3 million in equity for the deal from sources on Oregon-based investment platform CrowdStreet. All buildings were fully leased at the time of sale, with dialysis provider U.S. Renal Care being the sole or primary tenant at each property. CIT Group Inc. arranged $21 million in acquisition financing on behalf of Ridgeline.

May 11, 2020

Development Healthcare Texas

Johnson Development to Build VA Outpatient Clinic in Tyler, Texas

by Taylor Williams May 11, 2020

TYLER, TEXAS — Alabama-based Johnson Development will build a VA Outpatient Clinic in Tyler, a city located about 100 miles east of Dallas. BL Harbert is the general contractor for the project, which is expected to carry a construction timeline of 16 to 22 months. Gabriel Silverstein and Louis D’Lando of SVN | Angelic structured and placed construction financing for the project, which will be developed as part of a quintet of VA Outpatient Clinics in Texas, Florida, Michigan and Missouri that will collectively span more than 303,000 square feet.

May 11, 2020

Industrial Leasing Activity Texas

Benchmark Electronics Signs 44,680 SF Industrial Lease Extension in Austin

by Taylor Williams May 11, 2020

AUSTIN, TEXAS — Tempe, Ariz.-based manufacturer Benchmark Electronics Inc. has signed a 44,680-square-foot industrial lease extension at 200 Parker Drive in North Austin. Andrew Hueser, Sherry Gubera and Jesse Weber of Newmark Knight Frank represented the tenant in the lease negotiations. JLL represented the landlord, Icon Owner Pool 6 Austin LLC.

May 11, 2020

Acquisitions Office Texas

Marcus & Millichap Arranges Sale of 8,750 SF Office Building Near Fort Worth

by Taylor Williams May 11, 2020

BEDFORD, TEXAS — Marcus & Millichap has arranged the sale of an 8,750-square-foot office building located at 405 Airport Freeway in Bedford, a suburb of Fort Worth. Ron Hebert and Blake Burnett of Marcus & Millichap represented the seller and procured the 1031 exchange buyer, both of which were private investors that requested anonymity.

May 11, 2020

Development Hospitality Texas Top Stories

Sam Moon Group to Open 303-Room Hyatt Regency Frisco Hotel on June 1

by Taylor Williams May 11, 2020

FRISCO, TEXAS — Locally based developer Sam Moon Group will open the Hyatt Regency Frisco, a 303-room luxury hotel located at the intersection of Preston Road and the Sam Rayburn Tollway in Frisco on June 1. Construction began in May 2018. The 18-story hotel is connected to Stonebriar Mall, a 1.7 million-square-foot shopping and dining destination. Brookfield Properties owns the mall, with Nordstrom and Dillard’s as anchor tenants. A number of entertainment concepts such as Kidzania, Dave & Buster’s and iFly Dallas indoor skydiving are also located near the hotel. In addition, seven sports teams, including the Dallas Cowboys, Frisco RoughRiders (baseball) and FC Dallas (soccer) are located within a few miles of the property. “Frisco is a modern city brimming with attractions, and the new Hyatt Regency Frisco will reflect this contemporary mindset,” says developer Daniel Moon. “This bustling city was once a dusty cattle drive trail that was later transformed by the railroad through the North Texas plains, and now it’s a tourist destination renowned for shopping, stadiums, conventions and entertainment. Our hotel will celebrate the spirit of this vibrant community.” Amenities at the hotel include a 27,500-square-foot conference center, lobby bar, two restaurants and an outdoor pool. HKS …

May 11, 2020

Leasing Activity Retail Texas Video Webinar

Webinar: Texas Retail Reboot

by Sarah Daniels May 8, 2020

On May 7, Texas Real Estate Business and Shopping Center Business magazines hosted “Texas Retail Reboot,” a webinar taking an in-depth look at what the Texas retail real estate community needs as the state reopens after statewide shutdowns due to COVID-19. The coronavirus pandemic isn’t over, but Texas is adjusting to a new normal, including figuring out what retail will look like going forward. What will the future of Texas retail look like? Find out what industry experts have to say about these topics and more: How will Texas retailers adapt after COVID-19? What do they need to do to ensure customer and staff safety? What is the financial impact of changed traffic patterns? What do retailers need to succeed? How will landlords and retail property owners support tenants and customers affected by the coronavirus? What can they do to ensure the success of their tenants and their properties? What do Texas brokers need to know about the retail landscape? How will rents and property values be impacted? What are the predictions for retail vacancy rates in the coming year? Webinar sponsor: Hart Advisors Group, a commercial real estate advisory firm founded in 2009 that has completed over $5 billion in …

May 8, 2020

Development Industrial Texas

Logistics Property Co. to Break Ground on 1 MSF Spec Industrial Building in Metro Dallas

by Taylor Williams May 8, 2020

WILMER, TEXAS — Chicago-based developer Logistics Property Co. (LPC) will break ground in July on Building 3 at Southport Logistics Park in the southern Dallas suburb of Wilmer. Current plans call for Building 3 to span roughly 1 million square feet with the potential to be expanded to 1.2 million square feet. According to LPC, the project is the only speculative industrial development in the South Dallas submarket that is moving forward right now. Building features will include 40-foot clear heights, 300 trailer parking spaces and 650 automobile parking spaces. Delivery is slated for the first quarter of 2021. Southport Logistics Park is a 252-acre development located immediately east of Interstate 45 and the Union Pacific Intermodal, five miles south of Interstate 20 and thee miles south of a hub for FedEx Ground.

May 8, 2020

Acquisitions Multifamily Texas

JLL Provides Loan for Refinancing of 264-Unit Apartment Community in North Dallas

by Taylor Williams May 8, 2020

DALLAS — JLL has provided a Freddie Mac loan for the refinancing of Advenir on Addison, a 264-unit apartment community in North Dallas. The property features one- and two-bedroom units averaging 923 square feet that are equipped with stainless steel appliances, granite countertops, walk-in closets and attached garages. Eric Tupler, Josh Simon and Andy Scott of JLL originated the seven-year, fixed-rate loan on behalf of the borrower, Florida-based multifamily investment firm Advenir.

May 8, 2020

Industrial Leasing Activity Texas

Electronics Supplier Signs 49,072 SF Industrial Lease in Fort Worth

by Taylor Williams May 8, 2020

FORT WORTH, TEXAS — Mastertronics Inc., a global supplier of computers and consumer electronics, has signed a 49,072-square-foot industrial lease at Northern Crossing Business Park in Fort Worth. George Jennings, Hogan Harrison, and Matt Carthey with Holt Lunsford Commercial represented the landlord, Windsor at Northern Crossing, in the lease negotiations. Nick Karanges with Woodcrest Capital represented the tenant.

May 8, 2020

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