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DevelopmentIndustrialTexas

Logistics Property Co. Lands Full-Building Tenant at 1 MSF Warehouse in Wilmer, Texas

by Taylor Williams

WILMER, TEXAS — Logistics Property Co. has landed a full-building tenant at Building 1 of Southport Logistics Park, the Chicago-based developer’s 1 million-square-foot warehouse in the southern Dallas suburb of Wilmer. The tenant is CJ Logistics America, the supply chain subsidiary of South Korean conglomerate CJ Group. Rob Wheeler, Trevor Ragsdale, Melissa Holland and J.M. Priddy of JLL represented the tenant in the lease negotiations. Kacy Jones and John Hendricks of CBRE, along with internal agents Max Mueller, Daniel Davidson, Jonathan Snow and J.C. Hay, represented the landlord. Southport Logistics Park comprises three buildings on a 252-acre site.

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AcquisitionsMultifamilyTexas

Rise48 Equity Acquires 142-Unit Gateway Place Apartments in Garland, Texas

by Taylor Williams

GARLAND, TEXAS — Rise48 Equity, an investment firm with offices in Phoenix, Dallas and Charlotte, has acquired Gateway Place Apartments, a 142-unit multifamily complex in the northeastern Dallas suburb of Garland. According to Apartments.com, the property was built in 1983, features one-, two- and three-bedroom units and offers amenities such as a pool, dog park and outdoor grilling and dining stations. The new ownership plans to invest $3.4 million in capital improvements to the unit interiors and building exteriors and rebrand the property as Rise Gateway. The seller and sales price were not disclosed.

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IndustrialLeasing ActivityTexas

Mooring Signs 62,391 SF Industrial Lease in Benbrook, Texas

by Taylor Williams

BENBROOK, TEXAS — Mooring, a provider of disaster recovery and commercial restoration services, has signed a 62,391-square-foot industrial lease in Benbrook, located southwest of Fort Worth. The space is located within Building 1 of Chisholm 20, a four-building, 917,374-square-foot development. Steve Koldyke, Kacy Jones and Brian Gilcrest of CBRE represented the landlord, locally based developer Jackson-Shaw, in the lease negotiations. Jeff Rein and Charles Brewer of Stream Realty Partners represented the tenant, which is relocating and expanding from Grand Prairie and will move in during the first half of 2025.

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DevelopmentMultifamilyTexas

Carbon Shepherd Development Completes 60-Unit Multifamily Project in College Station

by Taylor Williams

COLLEGE STATION, TEXAS — Dallas-based Carbon Shepherd Development has completed an 60-unit multifamily project in College Station. The property, which is operated under the company’s Woodland Cottages brand, offers one- and two-bedroom units, with private balconies/patios and attached garages available in select residences. Amenities include a pool, fitness center and a clubhouse with a game room. Rents start at $2,600 per month for a one-bedroom unit.

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Leasing ActivityOfficeTexas

Sheppard Mullin to Open 29,800 SF Office in Downtown Houston

by Taylor Williams

HOUSTON — Sheppard Mullin will open a 29,800-square-foot office in downtown Houston. The space is located on the 25th floor of the 47-story Texas Tower building, and the law firm plans to take occupancy in the fourth quarter of next year. Kevin Kushner, William Padon and Sydnee Hilburn of CBRE represented the tenant in the lease negotiations. Michael Anderson of Cushman & Wakefield represented the landlord, a partnership between Hines, Ivanhoé Cambridge and an affiliate of global investor CDPQ.

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Devon-Self-Storage-Lubbock
DevelopmentIndustrialSelf-StorageTexas

Inland Private Capital, Devon Deliver 844-Unit Self-Storage Facility in Lubbock

by Taylor Williams

LUBBOCK, TEXAS — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed an 844-unit facility in Lubbock. The site at 2010 Avenue R formerly housed an AT&T processing center. The four-story, elevator-served facility features 85,300 net rentable square feet of 100 percent climate-controlled storage space, as well as an exterior staging area that allows controlled access to elevators on each floor and drive-up unit capability.

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One-Ridgmar-Centre-Fort-Worth
AcquisitionsMultifamilyTexas

Wilks Development Buys 177,199 SF Office Building in West Fort Worth, Plans $9M Renovation

by Taylor Williams

FORT WORTH, TEXAS — Wilks Development, the firm behind the Firefly Park mixed-use development in Frisco, has purchased One Ridgmar Centre, a 177,199-square-foot office building in West Fort Worth. The company plans to implement a $9 million renovation program over the next five years. Initial improvements will focus on the roof and HVAC systems, followed by enhancements to the common areas. The 10-story building was originally constructed in 1986 and was most recently owned by Holt Lunsford Commercial Investments. Wilks simultaneously secured 30,000 square feet of new leases at closing, bringing the building’s occupancy to 68 percent.

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IndustrialLeasing ActivityTexas

TeaBevCo Signs 76,839 SF Industrial Lease in Benbrook, Texas

by Taylor Williams

BENBROOK, TEXAS — TeaBevCo, the exclusive distributor of the Texas Tea and HTeaO beverage brands, has signed a 76,839-square-foot industrial lease in Benbrook, located southwest of Fort Worth. The space is located within Building 1 of Chisholm 20, a four-building, 917,374-square-foot development. Steve Koldyke, Kacy Jones and Brian Gilcrest of CBRE represented the landlord, locally based developer Jackson-Shaw, in the lease negotiations. Todd Hawpe of Transwestern represented the tenant, which is relocating from North Fort Worth.

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DevelopmentMultifamilyTexas

Carbon Shepherd Development Completes 66-Unit Multifamily Project in Belton, Texas

by Taylor Williams

BELTON, TEXAS — Dallas-based Carbon Shepherd Development has completed a 66-unit multifamily project in Belton, located just outside Temple in Central Texas. The property, which is operated under the company’s Woodland Cottages brand, offers one- and two-bedroom units, with private balconies/patios and attached garages available in select residences. Amenities include a pool, fitness center, clubhouse with a game room and other recreational spaces. Rents start at $2,600 per month for a one-bedroom unit.

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Leasing ActivityOfficeTexas

Moelis & Co. to Open 30,400 SF Office in Downtown Houston

by Taylor Williams

HOUSTON — Moelis & Co. will open a 30,400-square-foot office in downtown Houston. The space is located on the 22nd floor of the 47-story Texas Tower building, and the global investment bank plans to take occupancy in the fourth quarter of next year. David Guion and Chris Oliver of Cushman & Wakefield represented the tenant in the lease negotiations. Michael Anderson, also with Cushman & Wakefield, represented the landlord, a partnership between Hines, Ivanhoé Cambridge and an affiliate of global investor CDPQ.

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