Texas

Package, Shipping Materials Provider Uline Signs 1.1 MSF Industrial Lease in Irving

by Taylor Williams August 11, 2020

IRVING, TEXAS — Uline, a provider of packaging and shipping materials for warehouse workers, has signed a 1.1 million-square-foot industrial lease at 2600 Rental Car Drive in Irving. The Wisconsin-based company will lease the entirety of Building 1 within Passport Industrial Park, a 2 million-square-foot development by Trammell Crow Co. and its joint venture partner CBRE Global Investors. Uline plans to take occupancy of the cross-dock distribution center in May 2021. Development of the park, which comprises four buildings situated on 130 acres, began in December 2018.

August 11, 2020

Development Industrial Texas

Aerospace User Bell Textron Unveils Plans for New 140,000 SF Manufacturing Facility in Fort Worth

by Taylor Williams August 11, 2020

FORT WORTH, TEXAS — Aerospace manufacturer Bell Textron Inc. (NYSE: TXT) has unveiled plans for its new 140,000-square-foot manufacturing technology facility in Fort Worth. According to the Dallas Business Journal, the property will be located at the northeast corner of Interstates 820 and 35, just a few miles from the company’s Fort Worth corporate headquarters. Bell Textron will use the facility to test and refine new technologies and systems for the Future Vertical Lift aircraft that will be used by the U.S. Army. Bell Textron, a division of Rhode Island-based conglomerate Textron Inc., has had a manufacturing presence in North Texas since 1951.

August 11, 2020

Development Office Texas

Triten Real Estate Completes Renovation of 90,000 SF Office Building in Metro Dallas

by Taylor Williams August 11, 2020

ADDISON, TEXAS — Triten Real Estate Partners has completed the renovation of a 90,000-square-foot office building located at the corner of the Dallas North Tollway and Belt Line Road in the northern Dallas suburb of Addison. The six-story building was previously known as Tollway Place and has been rebranded as The Commons. As part of the $4 million project, the development team upgraded the building’s common areas and office suites and signed restaurant Velvet Taco to lease a street-level retail space with outdoor seating. CBRE is handling leasing of the repositioned property.

August 11, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 144-Site Mobile Home, RV Park in Kingsville, Texas

by Taylor Williams August 11, 2020

KINGSVILLE, TEXAS — Marcus & Millichap has arranged the sale of Oasis Mobile Home & RV Park, a 144-site property in Kingsville, located outside Corpus Christi in South Texas. The community consists of 69 mobile home lot rentals, 31 park-owned home rentals and 44 RV lot rentals. Robert Denninger and Brad Dorsey of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company. Both parties requested anonymity.

August 11, 2020

Industrial Leasing Activity Texas

Finial Group Negotiates 19,800 SF Industrial Lease in Houston

by Taylor Williams August 11, 2020

HOUSTON — Locally based brokerage firm Finial Group has negotiated a 19,800-square-foot lease at 1646 Rankin Road in Houston. The space is located within Central Green Business Park, a 331,000-square-foot development near George Bush International Airport. Doc Perrier and Jason Gibbons of Finial Group represented the tenant, Rubicon Ventures LLC, in the lease negotiations. Jeremy Lumbreras of Stream Realty Partners represented the landlord.

August 11, 2020

Acquisitions Industrial Texas Top Stories

VEREIT, Ocean West Purchase Distribution Center in Dallas for $246.7M

by John Nelson August 11, 2020

DALLAS — VEREIT Inc. and Ocean West Capital Partners LLC have teamed up to acquire a 2.3 million-square-foot industrial facility in Dallas. The newly built property is located at 9314 W. Jefferson Blvd. and is fully leased to The Home Depot. NorthPoint Development sold the build-to-suit property to the buyers for $246.7 million. The Missouri-based developer is staying on as a joint venture partner. There are 20 years remaining on the lease with The Home Depot. “The property’s logistically desirable location along with the tenant’s creditworthiness and the established long-term lease make this a strong investment for the growing partnership,” says Thomas Roberts, VEREIT’s executive vice president and chief investment officer. The property, known as Dallas Global Industrial Center, offers access to Interstate 30, Texas Highway 161, Loop 12, Interstate 20 and Interstate 35E. The park also has a direct spur from the main Union Pacific Rail Service line. The acquisition is the latest in VEREIT’s (NYSE: VER) partnership with Korea Investment & Securities Co. Ltd., a global financial services firm based in Korea that Ocean West advises, as well as Tiger Alternative Investors Ltd. To date, the VEREIT-led partnership has bought seven Class A, single-tenant industrial properties totaling $653.7 …

August 11, 2020

Development Healthcare Texas

E.E. Reed Breaks Ground on 122,000 SF Healthcare Project in Houston

by Taylor Williams August 10, 2020

HOUSTON — Locally based general contractor E.E. Reed Construction has broken ground on the Woman’s Hospital medical office building, a 122,000-square-foot healthcare property located within Houston’s Medical Center. Earl Swensson Associates designed the five-story project, which is expected to be complete in late 2021. Healthpeak Properties, a healthcare and seniors housing REIT based in Irvine, Calif., is the developer.

August 10, 2020

Acquisitions Industrial Texas

Welcome Group Acquires 23 Acres in Houston for Industrial Development

by Taylor Williams August 10, 2020

HOUSTON — Investment and development firm Welcome Group LLC has acquired 23 acres in Cedar Port Industrial Park in Houston for future projects. Cedar Port is a 15,000-acre, rail-served industrial development on the southeast side of the city that offers access to the Grand Parkway, Interstate 10 and Port Houston. Specific plans for future development of the site were not released. Ryan Wassaff Sr. internally represented Welcome Group in the land sale.

August 10, 2020

Industrial Leasing Activity Texas

Continental Office Group Signs 22,374 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams August 10, 2020

GARLAND, TEXAS — Continental Office Group, a wholesaler of new and used office furniture, has signed a 22,374-square-foot industrial lease renewal at Gateway East Business Center in the northeastern Dallas suburb of Garland. Matt Dornak and Ryan Wolcott of Stream Realty Partners represented the landlord, Barings, in the lease negotiations. JLL represented the tenant.

August 10, 2020

Industrial Leasing Activity NAI Texas

NAI Partners Negotiates 11,900 SF Industrial Lease in South Houston

by Taylor Williams August 10, 2020

HOUSTON — NAI Partners has negotiated an 11,900-square-foot industrial lease at 10425 Moers Road in south Houston. According to LoopNet Inc., the property was built in 1961 and consists of four buildings. Zane Carman and Clay Pritchett of NAI Partners represented the landlord in the lease negotiations. Barrett Gibson of Colliers International represented the tenant, Supreme Plant Services LLC, a provider of tank cleaning services.

August 10, 2020

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