AUSTIN, TEXAS — Heritage Title Co. of Austin Inc., which provides title insurance and settlement services, has preleased 20,459 square feet of office space at Indeed Tower, a 36-story development nearing completion at 200 W. Sixth St. in downtown Austin. The developer, a partnership between Trammell Crow and Principal Real Estate Investors, broke ground on the 673,000-square-foot tower, formerly known as Block 71, in October 2017. The partnership expects to compete construction during the first half of next year. Troy Holme, Casey Ford and Katie Ekstrom of CBRE represented ownership in the lease negotiations, while Derek Lewis and Todd Gilfillan of Lincoln Property Co. represented the tenant.
FORT WORTH, TEXAS — Dalfen Industrial has acquired Mark IV Commerce Center, a 1 million-square-foot industrial property located near Interstates 35 and 820 in the Alliance area of Fort Worth. The newly built, Class A development consists of three buildings in front-load and cross-dock configurations and ESFR sprinkler systems. AER Manufacturing recently signed an 80,660-square-foot lease to become the development’s inaugural tenant. The Dallas Business Journal reports that the seller was Crow Holdings Industrial.
HOUSTON — Hines has launched Willowick Residential, the Houston-based real estate giant’s new multifamily property management service. Named after founder Gerald D. Hines’ first residential development in Houston’s River Oaks area, Willowick Residential currently has nine properties in its portfolio. Hines, which has offered some sort of property management services since its inception in 1957, has a multifamily portfolio of 63 properties across 38 U.S. cities.
IRVING, TEXAS — APL Logistics Warehouse Management Services, a third-party logistics firm based in Singapore, has signed a 121,400-square-foot industrial lease at Passport Logistics Center, located near DFW International Airport in Irving. Blake Kendrick, Sarah Ozanne and Charles Brewer of Stream Realty Partners represented the landlord, Brookfield Properties, in the lease negotiations. Mohr Partners represented the tenant.
HOUSTON — Pittsburgh-based Dick’s Sporting Goods will open a new, 45,198-square-foot store at Copperfield Marketplace, located at 16343 FM 259 Road in Houston. The grand opening will take place from Friday, Oct. 23 to Sunday, Oct. 25. Dick’s Sporting Goods will join Burlington and Med Express as the other anchors at the center, which is owned by Fidelis Realty Partners.
RICHARDSON, TEXAS — Newmark Knight Frank (NKF) has negotiated a 40,160-square-foot office lease at 2930 Telecom Parkway in the northeastern Dallas suburb of Richardson. Frank Puskarich and Louis Pascuzzi of NKF represented the tenant, educational products provider Newline Interactive Inc., in the lease negotiations. Holt Lunsford Commercial represented the landlord, Jackson-Shaw/GID PARC Northeast LP.
By Brad Bailey, first vice president, CBRE; Adam Rabin, associate, CBRE; and Logan Reichle, vice president, CBRE It’s no secret that across the United States, the retail investment community has had to shift and adapt in several ways due to the ongoing pandemic. In addition, retail owners have had to make quick assessments of their strategies for asset management, usually on a property-by-property basis. For the first part of the pandemic, the commercial real estate industry was primarily reactive and in crisis mode. However, seven months into it, the indication is that this is something that will be around for the foreseeable future. As such, investors are moving out of their reactive modes and beginning to implement offensive strategies to identify and secure strong retail real estate investments. There are a number of key reasons that these investors are honing in on Central Texas retail: Suburban vs Downtown Good retail locations are hard to come by in Austin. We estimate that investment demand will rebound for space recently vacated. In high-quality locations, don’t expect too much of a change on rental rates. For some Austin submarkets like Cedar Park and Lakeway, we may see rates adjust slightly as vacancy rises. …
STAFFORD, TEXAS — Crow Holdings Industrial has acquired 34.3 acres in the southwestern Houston suburb of Stafford for the development of a 568,084-square-foot industrial project. The three-building development will be located at 13223 Murphy Road at the site of the former Weatherford family farm. Crow Holdings expects to deliver the property in fall 2021. Barkley Peschel and Jason Scholtz of Colliers International represented the undisclosed seller of the land and will handle leasing of the property along with Walter Menuet of Colliers. Cory Driskill and Travis Covington represented Crow Holdings on an internal basis.
AUSTIN, TEXAS — Berkadia has provided a HUD loan of an undisclosed amount for the refinancing of Altair Tech Ridge, a 230-unit apartment community in Austin. Built in 2019, the property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, resident clubhouse and an outdoor dining area. Chad Bedwell and Eli Gershenson of Berkadia originated the loan, which was structured with a fixed interest rate and a 35-year amortization schedule, on behalf of the borrower, Dallas-based Galaxy Tech Ridge LLC.
PLANO, TEXAS — Cushman & Wakefield has negotiated a 104,841-square-foot office lease at Legacy Union One, a 318,852-square-foot building in Plano. The tenant, energy exploration firm Denbury Inc., has subleased three floors from Prosperity Bank and one floor from Aimbridge Hospitality to house its new headquarters. About 300 Denbury employees will work in the new office space, which offers direct access to the Shops at Legacy and the Legacy West corporate campuses. Mike Wyatt, Travis Boothe and Maureen Kelly Cooper of Cushman & Wakefield represented Denbury in the lease negotiations.