Friday, October 4, 2024
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700-River-Austin
DevelopmentMultifamilyTexas

Partnership Tops Out 43-Story Multifamily Project in Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — A partnership between High Street Residential, MSD Partners and River Street Partners has topped out 700 River, a 43-story apartment tower in Austin’s Rainey Street District. The 500-foot building will house 377 units in a mix of studio to three-bedroom residences, as well as several penthouses and 3,400 square feet of retail space. In addition, 700 River will feature more than 30,000 square feet of indoor and outdoor amenity space. HKS is the project architect, and DPR Construction is the general contractor. The first move-ins will begin this fall. Construction began in fall 2022.

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AcquisitionsIndustrialTexas

Partners Real Estate Arranges Sale of Five-Acre Industrial Development Site in San Antonio

by Taylor Williams

SAN ANTONIO — Partners Real Estate has arranged the sale of a five-acre industrial development site in San Antonio. The site is located along FM 2252 near the intersection of Marbach Lane on the city’s northeastern side. Carlos Marquez and Gustavo Torres of Partners represented the seller, Escamilla Rosa Children’s Trust, in the transaction. Samantha Flores of Accelerated Commercial Real Estate represented the undisclosed buyer.

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Leasing ActivityRetailTexas

Sprouts Farmers Market Opens New Store in Rockwall, Texas

by Taylor Williams

ROCKWALL, TEXAS — Sprouts Farmers Market has opened a new store in Rockwall, a northeastern suburb of Dallas. The square footage of the store, which is located at 469 E. I-30, was not disclosed, but the prototypical Sprouts location spans about 30,000 square feet. For the Phoenix-based grocer, the store is the 51st in Texas, with roughly half of those located in the Dallas-Fort Worth metroplex, and the 419th nationwide.

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DevelopmentHealthcareTexas

Edloe Ventures Completes 16,100 SF Medical Office Building in Sugar Land, Texas

by Taylor Williams

SUGAR LAND, TEXAS — Edloe Ventures, a real estate affiliate of the Edloe Health network (formerly known as Elite Health Services), has completed a 16,100-square-foot medical office building in the southwestern Houston suburb of Sugar Land. Telfair Medical Court, which is also now home to Edloe Imaging, is located at 6927 Brisbane Court. JLL is marketing the remainder of the space for lease.

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HealthcareLeasing ActivityTexas

WellMed Medical Management Signs 3,154 SF Lease in Irving

by Taylor Williams

IRVING, TEXAS — WellMed Medical Management has signed a 3,154-square-foot lease at 8403 Sterling St. in Irving. The medical office space is located within Commerce Office Park. Jason Finch and Michael Spain of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. Erik Sheets of Medcore Partners represented the tenant.

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CaliforniaDevelopmentIndustrialMichiganMidwestTexasTop StoriesWestern

Home Depot Plans Four New Distribution Centers for Professional Customers

by Jeff Shaw

DETROIT, LOS ANGELES, SAN ANTONIO AND TORONTO — The Home Depot Inc. (NYSE: HD) has announced plans for four new distribution centers in Detroit, Los Angeles, San Antonio and Toronto. The new facilities are a key component of the company’s efforts to cater to professional customers such as developers, general contractors, remodelers and property managers. The new distribution centers will stock large, bulky merchandise such as lumber, insulation and roofing shingles. The new distribution centers are expected to open in the first half of this year. Home Depot has opened similar hubs across the U.S. and expects to have 17 facilities equipped with new capabilities for pros by the end of 2024. In addition to the new distribution centers, Home Depot plans to expand its offerings to professional customers with localized product assortment tailored to each market, digital tools to manage complex orders, and special credits and pricing for professional customers. “Over the last several years, we have been investing to deliver a faster, more convenient, differentiated experience for our pros,” says Chip Devine, senior vice president of outside sales for Home Depot. “Our distribution network is one piece of the comprehensive pro ecosystem we’re building to better meet the needs …

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AcquisitionsMultifamilyTexas

Buckner Retirement Services Acquires 296-Unit Seniors Housing Property in Fort Worth

by Taylor Williams

FORT WORTH, Texas — Nonprofit senior living provider Buckner Retirement Services has acquired The Stayton at Museum Way in Fort Worth. The 11-story continuing care retirement community features 188 independent living units, 42 assisted living units, 20 memory care units and 46 skilled nursing units. The seller, Lifespace Communities, acquired The Stayton in 2019 and has operated it since that time. The anticipated closing date for the purchase is June 2024 but may occur as soon as late April, according to the buyer. 

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Company NewsLeasing ActivityRestaurantRetailTexas

Johnny Rockets to Open 20 New Texas Restaurants Over Next Decade

by Taylor Williams

LOS ANGELES — FAT (Fresh. Authentic. Tasty.) Brands Inc., the Los Angeles-based parent company of 17 restaurant concepts, has inked a new development deal to open 20 new Johnny Rockets restaurants across Texas over the next 10 years. The locations were not disclosed, but the first restaurant is set to open sometime this year. The new locations will open in partnership with Brame Holdings LLC, a San Antonio-based private investment company with a portfolio of franchised restaurants and automotive stores.

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IndustrialLeasing ActivityTexas

Oxford Partners Negotiates 45,590 SF Industrial Sublease in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Oxford Partners has negotiated a 45,590-square-foot industrial sublease in northwest Houston. According to LoopNet Inc., the building at 7350 Langfield Road was constructed in 2012 and totals 120,953 square feet. Jacob Summers and Stephen Hazen of Oxford Partners represented the sublessee, food distributor Very Best of Texas Inc., in the lease negotiations. Savannah Smith and Joseph Smith of CBRE represented the sublessor, Cinch Kit LLC, a provider of cabinet refacing services.

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AcquisitionsIndustrialTexas

Finial Group Arranges Sale of 21,250 SF Industrial Building in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 21,250-square-foot industrial building in northwest Houston. According to LoopNet Inc., the building at 12543 Perry Road was built on 1.4 acres in 2003 and features 21-foot clear heights and 11 drive-in doors. Jason Gibbons and Tyler Holt of Finial Group represented the seller in the transaction, and Jim Rock of Avison Young represented the buyer. Both parties requested anonymity.

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