Friday, October 4, 2024
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Sunset-Ampitheater-McKinney
DevelopmentRetailTexas

Notes Live to Open $220M Music, Entertainment Venue in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — Notes Live, a Colorado-based hospitality and entertainment operator, will open Sunset Amphitheater, a $220 million live music and entertainment venue that will be located in the northern Dallas suburb of McKinney. The 46-acre site is located just northeast of U.S. Highway 75 and State Highway 121. The venue will have the capacity to house about 20,000 people and will feature more than 250 luxury firepit suites, owners club seats and traditional reserved seats in the middle and lower levels of the bowl. Construction is set to begin before the end of the year and to be complete in 2026.

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AcquisitionsIndustrialRestaurantRetailTexas

Cove Capital Investments Buys 39,597 SF Industrial, Retail Property in Pearland, Texas

by Taylor Williams

PEARLAND, TEXAS — Cove Capital Investments, a California-based firm that specializes in Delaware Statutory Trust (DST) and 1031 exchange deals, has acquired a 39,597-square-foot industrial and retail property in Pearland, a southern suburb of Houston. The newly renovated property consists of a 28,310-square-foot industrial flex building, a 7,287-square-foot restaurant and a 4,000-square-foot storage warehouse. The seller and sales price were not disclosed.

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IndustrialLeasing ActivityTexas

Finial Group Negotiates 12,397 SF Industrial Lease in Somerville, Texas

by Taylor Williams

SOMERVILLE, TEXAS — Houston-based brokerage firm Finial Group has negotiated a 12,397-square-foot industrial lease in Somerville, about 90 miles northwest of The Bayou City. The building at 9690 FM 50 sits on 4.7 acres and features 28 loading positions. Jack Gaffney and Kevin Coleman of Finial Group represented the tenant, Dana Safety Supply, in the lease negotiations. Jon Dandurand of Burr & Temkin represented the undisclosed landlord.

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Leasing ActivityRetailTexas

Dollar Tree Renews 8,000 SF Retail Lease in Terrell, Texas

by Taylor Williams

TERRELL, TEXAS — Dollar Tree has renewed an 8,000-square-foot retail lease in the eastern Dallas suburb of Terrell. The discount retailer has been a tenant at the 23,050-square-foot Terrell Corners Shopping Center since 2008. Other tenants at the center include WingStop, Anytime Fitness, Sally Beauty Supply and Cato Fashions. Paul Richter and Tammy Salas of Bradford Commercial Real Estate Services represented the landlord, Welsh Irrevocable Trust, in the lease negotiations. The tenant representative was not disclosed.

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AcquisitionsOfficeTexas

Davis Commercial Arranges Sale of 4,500 SF Office Building in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Davis Commercial has arranged the sale of a 4,500-square-foot office building in northwest Houston. According to LoopNet Inc., the single-tenant building at 11704 Cypress N. Houston Road was constructed in 1976. Cotton Munson of Davis Commercial represented the sellers, a pair of private investors, in the transaction. Dave Jensen represented the buyer, Gracelli Studios, which will occupy the building as a production studio for its social media content. 

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Montrose-Collective-Houston
LoansRetailTexas

JLL Arranges Loan for Refinancing of Midtown Houston Retail Property

by Taylor Williams

HOUSTON — JLL has arranged a loan of an undisclosed amount for the refinancing of Montrose Collective, a shopping and dining destination in Houston’s Midtown neighborhood. Montrose Collective opened in 2022 and was 98 percent leased at the time of the loan closing to restaurants such as Marmo and Uchi, as well as tenants such as Live Nation and Reformation Brewery. Prime Finance provided the loan to the borrower, a partnership between Radom Capital and institutional investors advised by J.P. Morgan Global Alternatives. Colby Mueck, Michael Johnson and Jack Britton led the JLL team that placed the loan, which retires the original construction loan that JLL arranged for the development in 2020.

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AcquisitionsMultifamilySeniors HousingTexas

Blueprint Brokers Sale of 65-Unit Seniors Housing Property in Plano

by Taylor Williams

PLANO, TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 65-unit seniors housing facility in Plano. The unnamed property was built in the 1990s and offers assisted living and memory care services. The seller was a national development and investment firm, and the buyer was a regional seniors housing owner-operator. Both parties requested anonymity. Giancarlo Riso, Amy Sitzman and Alex Florea of Blueprint brokered the deal.

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DevelopmentHealthcareOklahomaTexas

Bremner Real Estate Breaks Ground on 48,000 SF Healthcare Project in Norman, Oklahoma

by Taylor Williams

NORMAN, OKLA. — Indianapolis-based developer Bremner Real Estate has broken ground on the Oklahoma University Health Stephenson Cancer Center at Norman Regional, 48,000-square-foot healthcare project that will be located just south of Oklahoma City. The facility, which will serve patients from Norman Regional Health System and OU Health, will feature an underground tunnel connection to the main hospital, 24 infusion bays, exam rooms and physician office spaces. Completion is slated for 2025.

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Company NewsOfficeTexas

Reports: Ruiz Foods Opens New 25,000 SF Headquarters at HALL Park in Frisco

by Taylor Williams

FRISCO, TEXAS — Ruiz Foods, a provider of frozen Mexican foods, has opened a new 25,000-square-foot headquarters space at HALL Park in Frisco, according to reports from local media sources. According to Star Local Media, the company is in the process of relocating some employees from its existing headquarters facility in Dinuba, Calif., in addition to hiring some local workers. Ruiz Foods eventually plans to employ about 125 people at the new facility, the local paper reports.

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Leasing ActivityOfficeTexas

Affiliated Engineers Signs 6,945 SF Office Lease at West Houston’s Greenway Plaza

by Taylor Williams

HOUSTON — Affiliated Engineers Inc. has signed a 6,945-square-foot office lease at the Greenway Plaza office complex in West Houston. The space is located within 20 East Greenway Plaza, a 433,132-square-foot building. Ray Lopez of Colliers represented the tenant in the lease negotiations. Marilyn Guion and Steve Rocher of CBRE represented the landlord, an entity doing business as Twenty Greenway Plaza.

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