IRVING, TEXAS — Sunwest Real Estate Group will redevelop 2901 Kinwest Parkway, a 160,000-square-foot office building in Irving’s Las Colinas district. The project will upgrade the tenant lounge, which will now feature a café, as well as the lobby area, conference center and various exterior spaces. Entos Design is the project architect. Completion is slated for late 2020.
DALLAS — New York City-based REIT Brookfield Properties has acquired a 95,440-square-foot industrial facility that is situated on a 15.2-acre site at 4444 Irving Blvd. in West Dallas. The property features a 57,000-square-foot terminal with 118 doors and ample car and trailer parking space. A national transportation company fully leases the asset, according to Brookfield. The seller was not disclosed.
STAFFORD, TEXAS — NAI Partners has negotiated a 20,000-square-foot industrial lease renewal at 10101 Stafford Centre Drive in the southwestern Houston suburb of Stafford. Chris Caudill of NAI Partners represented the undisclosed landlord in the lease negotiations. Jarret Venghaus of JLL represented the tenant, educational software provider Intelliworks LLC.
GEORGETOWN, TEXAS — Newmark Knight Frank (NKF) has brokered the sale of Hillstone at Wolf Ranch, a 332-unit apartment community located in the northern Austin suburb of Georgetown. Built in 2018, the Class A property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park, game room and walking/biking trails. Patton Jones of NKF represented the seller, Dallas-based Leon Capital Group, in the transaction. The buyer was Virginia-based Weinstein Properties, which will rebrand the community as Bexley Wolf Ranch.
FLOWER MOUND, TEXAS — Lee & Associates has negotiated a 126,100-square-foot industrial lease renewal at 500 Enterprise Drive in the northern Fort Worth suburb of Flower Mound. According to LoopNet Inc., the property was built in 2003 and spans 462,200 square feet. Reed Parker of Lee & Associates represented the tenant, transportation and logistics firm BFS Services Inc., in the lease negotiations. Sarah Ozanne and Jeremy Kelly of Stream Realty Partners represented the landlord, New York-based Clarion Partners.
GARLAND, TEXAS — Texas Wholesale Computers, a supplier and distributor of finished computers, servers and accessories, has signed an 81,263-square-foot industrial lease at Miller Park North in the northeastern Dallas suburb of Garland. Josh Barnes and Ben Wallace of Holt Lunsford Commercial represented the landlord, Boston-based TA Realty, in the lease negotiations. Andy Goldston of Citadel Partners represented the tenant.
SPRING, TEXAS — Locally based investment firm The Welcome Group has acquired a 38,072-square-foot office and industrial complex at 2400 Spring Stuebner Road in the northern Houston suburb of Spring. The two-building property is situated on 11 acres and is leased to SES Foam, a provider of insulation products. The first building was built in 1984 and the second building was built in 1994.
SAN ANTONIO — Boston-based lender UC Funds has provided an $18.2 million loan for the adaptive reuse of The Travis Building, a high-rise office building in San Antonio that was originally built in 1920. The undisclosed borrower will convert the building in a mixed-use property with 63 Class A apartments and 20,000 square feet of ground-floor retail space.
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale-leaseback of the U.S. headquarters of defense electronics firm Elbit Systems of America. The 215,729-square-foot manufacturing and office campus is located in Fort Worth. The property was built on 25 acres in 1980 and has been leased to Elbit Systems since 1993 on a triple-net basis. An undisclosed pension fund advisor purchased the campus from Elbit Systems as part of a portfolio sale that also included the defense contractor’s manufacturing plant in Roanoke, Va. Adam Abushagur of Marcus & Millichap handled the sale of the Texas facility.
FLOWER MOUND, TEXAS — Lee & Associates has secured a 198,854-square-foot industrial lease at 1901 Lakeside Parkway in the northern Fort Worth suburb of Flower Mound for asset management and logistics firm TelTech Communications. Completed in 2019, the rear-load property features 32-foot clear heights, 180-foot truck courts and 38 trailer parking spaces. Tom Walrich of Lee & Associates represented the tenant in the lease negotiations. John Fulton and Brett Owens of Transwestern represented the landlord, Denver-based Black Creek Group.
