DALLAS — SkyView Advisors, a Tampa-based self-storage brokerage firm, has arranged the sale of a 908-unit Extra Space Storage facility located at 7701 Banner Drive in north Dallas. The property is situated on a 1.1-acre lot and spans 77,162 net rentable square feet. Ryan Clark of SkyView Advisors represented the undisclosed seller in the transaction. The buyer and sales price were also undisclosed.
DALLAS — Stream Realty Partners has brokered the sale of a 33,620-square-foot industrial building located at 10379 Plano Road in Dallas. According to LoopNet Inc., the single-tenant property was built on 2.3 acres in 2012 and features 24-foot clear heights. Ryan Wolcott and Adam Jones of Stream Realty Partners represented the buyer, Primos Unlimited LLC, in the transaction. Marshall Cooper of Cooper Commercial Inc. represented the seller, 10379 Plano Rd LLC.
PLANO, TEXAS — At Home, a home décor and furnishings retailer, posted net sales of $515 million in its fiscal second quarter, which ended on July 25, and is reportedly looking to expand its footprint. That figure represents a 42 percent year-over-year increase in comparable store sales. At Home CEO Lee Bird told CNBC on Friday that the company has been expanding its store count by about 20 percent per year over the last seven years, and that it could grow from its current 219 stores to as many as 600. Bird cited the Plano-based retailer’s emergence as an essential retailer and a one-stop shop for a broad range of home goods, as well as the growth of its omnichannel sales platform and the ability to social distance inside its large-format stores, as key drivers of its growth.
HOUSTON — PCCP has acquired a $99.3 million senior loan that is collateralized by The Star, a historic property in downtown Houston that was recently redeveloped into a 286-unit apartment complex with 26,442 square feet of ground-floor retail space. In conjunction with the purchase, PCCP has entered into a modified loan agreement with the original borrower, Dallas-based Provident Realty Advisors. The Star was originally constructed as the headquarters building for Texaco and was vacated in 1989. Provident Realty purchased the building in 2013 and completed its repositioning project in 2018.
TOMBALL, TEXAS — JDR Cable Systems, a provider of underwater power cables for the energy business, has begun construction on a 65,000-square-foot office and industrial project in Tomball that will serve as the United Kingdom-based company’s new Houston area headquarters The facility will house a wide range of operations, including engineering and management for global projects, assembly of a variety of oilfield equipment and support for its offshore service business. Completion is slated for the first half of 2021.
CYPRESS, TEXAS — Marcus & Millichap has brokered the sale of Creekside Storage, a 147-unit self-storage facility located at 14660 Spring Cypress Road in Cypress, a northwestern suburb of Houston. The facility spans 33,600 square feet of net rentable space. Dave Knobler and Casey Kral of Marcus & Millichap represented the seller, a private investor, in the transaction. An El Paso-based limited liability company purchased the asset for an undisclosed price.
HOUSTON — Locally based advertising agency Decode has signed a 13,000-square-foot office lease at M-K-T, a mixed-use development in The Heights neighborhood of Houston. Triten Real Estate Partners, Radom Capital and Long Wharf Capital are the co-developers of M-K-T. Bubba Harkins and Jenny Mueller of JLL represented the development team in the lease negotiations. Joe Rambin of Cushman & Wakefield represented the tenant. With the closing of this deal, the office component of the project is 50 percent preleased.
DALLAS — VanTrust Real Estate has broken ground on DalParc Logistics Center, a 1 million-square-foot industrial building that will be developed on a speculative basis in South Dallas. DalParc Logistics Center will be situated within a 200-acre logistics park that is anchored by Amazon and L’Oreal. Project partners include Alliance Architects, MYCON General Contractors and civil engineer Kimley-Horn. CBRE is handling leasing of the development, which is expected to be complete in July 2021.
FRISCO, TEXAS — Colliers International has arranged the sale of Tower at Frisco Square, a 174,147-square-foot office building situated on 3.2 acres at 5757 Main St. in Frisco. Video game developer Gearbox Software is the anchor tenant of the five-story building, which was constructed in 2015 and has an adjacent five-level parking garage with additional ground-floor office and retail space. Dallas-based Encore Enterprises sold the property to Missouri-based REIT Maxus Realty Trust for an undisclosed price. Creighton Stark and Chris Boyd of Colliers brokered the deal.
HOUSTON — Locally based investment firm TRECAP Management has purchased two warehouses totaling 31,750 square feet in Houston. The buildings are located at 12400 and 12402 Taylor Road and are fully leased to SRS Distribution Inc. Barrett Gibson and Jason Tangen of Colliers International represented the seller, H&B Development & Construction LP, as well as TRECAP Management in the transaction.