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Far-West-Apartments-Austin
DevelopmentLoansMultifamilyTexas

JLL Arranges Construction Loan for 321-Unit Multifamily Project in Austin

by Taylor Williams

AUSTIN, TEXAS — JLL has arranged a construction loan of an undisclosed amount for Far West Apartments, a 321-unit multifamily project in Austin. The site is located within the Northwest Hills submarket, and the development will offer one-, two- and three-bedroom units with an average size of 800 square feet. Amenities will include a pool, fitness center, clubhouse, pet spa and a conference room. Doug Opalka, C.W. Sheehan and Samantha Jay of JLL arranged the 10-year, floating-rate loan through Poppy Bank on behalf of the borrower, Central Southwest Texas Development. Completion is slated for spring 2027.

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AcquisitionsIndustrialTexas

Bradford Arranges Sale of 137,083 SF Industrial Complex in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of McMillan Center, a three-building, 137,083-square-foot industrial complex in North Fort Worth. The property formerly served as a Coors distribution center and comprises a 115,078-square-foot main building, 12,544-square-foot office building and a 9,362-square-foot maintenance facility. Shane Benner of Bradford represented the buyer, Ron Sturgeon Real Estate, which will relocate from Haltom City and occupy the property, in the off-market deal. Todd Hawpe of Transwestern represented the seller.  

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IndustrialLeasing ActivityTexas

Colliers Negotiates 31,760 SF Industrial Lease in San Marcos, Texas

by Taylor Williams

SAN MARCOS, TEXAS — Colliers has negotiated a 31,760-square-foot industrial lease in San Marcos, located roughly midway between Austin and San Antonio. The tenant, Ohio-based supplier OTC Industrial Technologies, is taking space at Clovis Crossing, a newly constructed development that comprises two buildings totaling 213,125 square feet. Shane Woloshan, Nolan Babb, Travis Hicks, Chase Clancy and Michael Modesett of Colliers represented the tenant in the lease negotiations. Carter Thurmond, Nash Frisbie and Bailey Sousa of Transwestern represented the landlord, New Jersey-based Denholtz Properties.

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Leasing ActivityOfficeTexas

Chicago School of Psychology Signs 18,566 SF Office Lease in Plano

by Taylor Williams

PLANO, TEXAS — The Chicago School of Psychology has signed an 18,566-square-foot office lease in Plano. The space is located within the five-story building at 6275 W. Plano Parkway that offers amenities such as a fitness center, conference facilities and onsite café. Trevor Franke and Gini Rounsaville of JLL represented the landlord, Billingsley Co., in the lease negotiations. Dean Collins of Cushman & Wakefield represented the tenant.

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Forum-at-Grand-Prairie
AcquisitionsMultifamilyTexas

Cushman & Wakefield Brokers Sale of 304-Unit Forum at Grand Prairie Apartments

by Taylor Williams

GRAND PRAIRIE, TEXAS — Cushman & Wakefield has brokered the sale of Forum at Grand Prairie, a 304-unit apartment community located roughly midway between Dallas and Fort Worth. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, clubhouse and outdoor grilling and dining stations. Asher Hall and Grant Raymond of Cushman & Wakefield represented an undisclosed seller in the transaction. Locally based investment firm ClearWorth Capital purchased the property for an undisclosed price.

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OfficeTexas

Pillar Commercial Recapitalizes 215,000 SF Office Building in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Locally based investment firm Pillar Commercial has recapitalized Collins Square, a 215,000-square-foot office building located in the northeastern Dallas suburb of Richardson. The recapitalization retires the building’s existing debt and provides for a new ownership structure that includes Pillar’s current real estate fund vehicle. Travelers Insurance has been the anchor tenant at Collins Square, which recently underwent a range of capital improvements, since 2002.

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AcquisitionsRetailTexas

AEW Capital Management Acquires 189,507 SF Shopping Center in Leander, Texas

by Taylor Williams

LEANDER, TEXAS — AEW Capital Management has acquired Bar W Marketplace, a 189,507-square-foot shopping center in Leander, a northern suburb of Austin. Anchored by grocer H-E-B, the center was fully leased at the time of sale. Other tenants include Chase Bank, Wells Fargo, Whataburger, Chili’s, Torchy’s Tacos and 7Brew Coffee. Barry Brown, Chris Gerard and Erin Lazarus of JLL represented the seller, a partnership led by Barshop & Oles Co., in the transaction. The firm also arranged acquisition financing through Manulife Real Estate Finance.

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AcquisitionsIndustrialTexas

Cove Capital Buys 68,400 SF Industrial Building in Northwest San Antonio

by Taylor Williams

SAN ANTONIO — Cove Capital Investments, a Delaware Statutory Trust (DST) company, has purchased a 68,400-square-foot industrial building in northwest San Antonio. The address was not disclosed, but the site is located one-third of a mile west of I-10 and less than two miles from the I-10/Loop 1604 intersection. The building was originally constructed in 2000 and carries a tenant roster with a weighted average lease term of 5.4 years. The seller and sales price were not disclosed.

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IndustrialLeasing ActivityTexas

Finial Group Negotiates 24,500 SF Industrial Lease in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Finial Group has negotiated a 24,500-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the building at 11602 Canyon Trail Drive was originally built in 2011. Christian Villarreal of Finial Group represented the undisclosed landlord in the lease negotiations. The name and representative of the tenant were also not disclosed.

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Alex Hoenig Valuations Walker & Dunlop
Content PartnerFeaturesIndustrialMidwestMultifamilyNortheastOfficeSoutheastTexasWalker & DunlopWestern

Multifamily, Industrial, Office Transaction Activity Trends Upward Amid Shifting Valuation Landscape

by Sarah Daniels

The spike in interest rates nearly three years ago brought investment sales to a virtual standstill, as deep disagreements over valuation between buyers and sellers dominated the market. While recent Federal Reserve cuts to the federal funds rate raised hope for a resurgence in transactions, ongoing volatility in the bond market, concerns about reemerging inflation and uncertainty over fiscal and monetary policy continued to weigh on a full-blown rebound in investment activity. The uncertain environment makes it difficult for investors to easily evaluate commercial property values, underscoring the importance of access to comprehensive, real-time data on transactions, market fundamentals and emerging trends, says Alex Hoenig, MAI, Midwest regional managing director at Apprise, Walker & Dunlop’s independent valuation firm. “Our understanding of current values for commercial real estate relies on transactions actually taking place, and sales velocity has started to inch back up,” reports Hoenig. “But there’s no question that there has been a lot of volatility in the market, which requires a local expert with access to a strong network and a constant pulse on market comparables.” Walker & Dunlop launched Apprise in 2020 to accelerate technology-driven solutions in the commercial real estate sector. Apprise serves owners and investors nationwide, …

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