Texas

Conor Commercial Breaks Ground on 198,000 SF Skyline Commerce Center Project in Dallas

by Taylor Williams April 21, 2020

DALLAS — Conor Commercial Real Estate has broken ground on Skyline Commerce Center, a 198,000-square-foot industrial project located about seven miles from downtown Dallas. The property will feature frontage along Interstate 30 and will consist of a 135,000-square-foot building and a 62,000-square-foot building. Completion is scheduled for the fourth quarter. Stream Realty Partners is handling leasing of the project. Conor Commercial is the development and investment arm of The McShane Cos., headquarters in suburban Chicago.

April 21, 2020

Civic Development Texas

McCarthy Completes 124,674 SF Renovation, Expansion Project at Texas Woman’s University in Denton

by Taylor Williams April 21, 2020

DENTON, TEXAS — McCarthy Building Cos. has completed the renovation and expansion of the Student Union at Hubbard Hall at Texas Woman’s University (TWU) in Denton. The project featured renovations of 100,754 square feet of meeting, event and dining space, as well as 23,920 square feet of structural additions to the building. Landscaping, irrigation and site utilities systems were also upgraded. McCarthy began the project in March 2018. The company previously completed construction of TWU’s Oakland Complex, a parking garage and an adjoining office building that houses campus police headquarters, human resources administrative spaces, a testing center, retail food service vendor and outdoor patio space. Texas Woman’s University is a public co-educational institution with about 13,000 students at its Denton campus.

April 21, 2020

Acquisitions Retail Texas

EDGE Negotiates Sale of 30,338 SF Shops at Porter Retail Center in Metro Houston

by Taylor Williams April 21, 2020

PORTER, TEXAS — EDGE Realty Partners has negotiated the sale of Shops at Porter, a 30,338-square-foot retail center located at 23611 Highway 59 N. in Porter, a northeastern suburb of Houston. Micha van Marcke and Chace Henke of EDGE represented the seller, SDI 59 Porter LLC, in the transaction. The buyer and sales price were not disclosed.

April 21, 2020

Development Office Texas

ARCO/Murray Delivers 31,000 SF Coworking Space at West Plano Village

by Taylor Williams April 21, 2020

PLANO, TEXAS — Locally based design-build firm ARCO/Murray has delivered a 31,000-square-foot project at West Plano Village for Spaces, a Dutch provider of coworking facilities. The space includes more than 80 individual offices, common rooms, executive suites, phone booths and a café with an attached patio. The facility had just opened prior to shelter-in-place orders taking effect as a result of the COVID-19 outbreak. Regus, a multinational provider of serviced offices, coworking spaces and virtual offices, acquired Spaces in 2015.

April 21, 2020

Market Reports Office Texas Texas Market Reports

First Takes: Texas Office Markets React To COVID-19

by Taylor Williams April 21, 2020

It’s still too early to pinpoint how long and how severe the disruption caused by the outbreak of COVID-19, the disease caused by the novel coronavirus, will be to the major office markets of Texas. But brokers in Dallas, Houston and Austin are already seeing their markets display short-term adjustments with regard to deal velocity and structure. As commercial brokers know all too well, every deal is different. Companies are making decisions on whether to delay or pursue office lease consolidations, renewals or expansions based on their unique cash-flow situations, sales outlooks and current positions in their business cycles. In addition, because many office-using jobs don’t qualify as essential services, the uncertainty about how long employees will have to continue to shelter in place and work from home is leading many companies to reassess their short-term needs in terms of size, location and density. Lastly, there are the office users whose businesses have already been walloped by reduced consumer spending. For these companies, decisions about future leasing activity may very well be taking a backseat to a more pressing short-term need to escape an existing lease with minimal bloodshed. Office brokers have their hands full addressing the unexpected and unforeseen …

April 21, 2020

Texas

Gov. Abbott Appoints Strike Force to Reopen Texas Economy, Starts ‘Retail to Go’ Program

by Taylor Williams April 20, 2020

AUSTIN, TEXAS — Texas Gov. Greg Abbott has established the Strike Force to Open Texas, a committee of medical experts and private and public leaders who will lead the process of reopening the state’s economy while revising hospital capacity and social distancing guidelines. In announcing the initiative on Friday, April 17, Abbott also introduced a “Retail to Go” model that will allow retailers in Texas that have been closed since mid-March to re-open on Friday, April 24 with curbside pickup and delivery services. The governor also issued an order that extends a requirement for all licensed healthcare professionals and facilities to postpone all surgeries and procedures that are not “medically necessary.” Lastly, Abbott has directed state parks to reopen on Monday, April 20, with requirements that visitors wear face coverings, maintain six-foot distances and gather in groups no larger than five.

April 20, 2020

Loans Multifamily Texas

Embrey Receives Refinancing Loan for 350-Unit Apartment Community in Frisco

by Taylor Williams April 20, 2020

FRISCO, TEXAS — Embrey Partners, a San Antonio-based multifamily developer, has received a loan for the refinancing of Domain at the Gate, a 350-unit apartment community in Frisco. Built in 2017, the property offers a 24-hour fitness center with yoga and spin studios, an indoor sports simulator, clubhouse and coffee bar, pool with outdoor kitchen and a private library. Pacific Life Insurance Co. provided the loan, and Trinity Real Estate Finance Inc. placed the debt. The amount of the loan was not disclosed.

April 20, 2020

Acquisitions Multifamily Texas

CBRE Global Investors Acquires 281-Unit Elan Med Center Apartments in Houston

by Taylor Williams April 20, 2020

HOUSTON — A fund sponsored by Los Angeles-based CBRE Global Investors has acquired Elan Med Center, a 281-unit apartment community located within the Texas Medical Center in Houston. Built in 2014, the property offers one- and two-bedroom units and amenities such as a pool, clubhouse, game room, fitness center, pet park, multiple study lounges and an outdoor terrace area with a kitchen and grills. The seller was not disclosed.

April 20, 2020

Leasing Activity Office Texas

Butler Animal Health Supply Renews 120,000 SF Industrial Lease in Fort Worth

by Taylor Williams April 20, 2020

FORT WORTH, TEXAS — Butler Animal Health Supply LLC, a provider of veterinarian supplies and medications, has renewed its 120,000-square-foot industrial lease at 14800 FAA Blvd. in Fort Worth. According to LoopNet Inc., the property spans 198,871 square feet across 10.9 acres. Bob Acuff of Colliers International represented the tenant in the lease negotiations. The landlord is ML Realty Partners.

April 20, 2020

Leasing Activity Office Texas

Digital Matrix Systems Signs 22,500 SF Office Lease to Relocate Headquarters to Plano

by Taylor Williams April 20, 2020

PLANO, TEXAS — Digital Matrix Systems (DMS), an international provider of risk management solutions, has signed a 22,500-square-foot office lease at Preston Park Towers West in Plano for its new headquarters. The company is relocating from nearby Addison. Mike Cleary, Mike Kay and Campbell Puckett of CBRE represented DMS in its site selection and lease negotiations. Campbell Henry and Chris Axley with Lincoln Property Co. represented the landlord, TerraCap Mangement.

April 20, 2020

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