HUGHES SPRINGS, TEXAS — Marcus & Millichap has brokered the sale of a 260-unit self-storage facility in Hughes Springs, about 140 miles east of Dallas. The facility was built in 2019 and totals 54,100 net rentable square feet, including 20 RV/boat storage spaces. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a local developer, in the transaction and procured the buyer, a Dallas-based investment company. Both parties requested anonymity.
AUSTIN, TEXAS — Buffalo, N.Y.-based developer Reger Holdings has welcomed three new tenants to East Village, a 425-acre mixed-use development in northeast Austin. Fitness International, the parent company of LA Fitness, will open a 34,000-square-foot gym under its Club Studio brand, and entertainment concept 810 Billiards & Bowling has committed to a 30,000-square-foot space. Both openings are about 12 to 24 months away. Lastly, Swish Dental will open a 3,513-square-foot clinic at East Village within the next 30 days.
MCKINNEY, TEXAS — Austin-based investment firm Harbor Capital has purchased a 51,710-square-foot industrial building in McKinney, a northern suburb of Dallas. The three-tenant facility at 190 Industrial Blvd. features 24-foot clear heights, grade-level doors, multiple 20-ton bridge cranes and heavy power capabilities. Harbor Capital is partnering with TIG Real Estate Services Inc. to manage the property. The seller and sales price were not disclosed.
FAIRVIEW, TEXAS — Revolving Kitchen has opened a 30,000-square-foot food hall at 146 Town Place in Fairview, a northern suburb of Dallas. The food hall will feature 34 fully equipped commercial kitchen spaces ranging in size from 260 to 1,100 square feet. Operators that have already committed to Revolving Kitchen Fairview include Brooklyn Bagels, Chanko Nutrition and Emmy J’s Pizza. Lincoln Property Co. owns the building.
Some commercial real estate developers work primarily with architects and engineers to establish a project’s scope and expected cost, leaving the selection of a general contractor or project manager until they are nearly ready to break ground. And by following this traditional approach, they may be leaving money on the table. A better practice is to engage contractors during project planning, industry experts advise. That’s because experienced contractors can provide practical insight into pricing and availability of materials and labor, informing critical planning decisions. Those same builders can be a sounding board for site civil engineers mapping out site preparation, utility installation, access and sequencing for the various tradespeople working on a project. “Involving a general contractor early is particularly beneficial for large-scale or phased construction projects,” says Daniel Hines, a principal in Bohler’s Charlotte office. “It enables us to approach the design more strategically, reduce costs and deliver more accurate timelines.” “The overall goal of getting a general contractor and an engineer working together is to maintain your schedule and your budget,” agrees Jeff Mitchell, director in the Charlotte, North Carolina office of Duffey Southeast Construction Inc. “Engineers are the experts at designing projects, but ultimately it is the …
GARLAND, TEXAS — New York City-based Dwight Capital has provided a $35.2 million HUD-insured construction loan for Millennium Village, a 199-unit multifamily project that will be located in the northeastern Dallas suburb of Garland. The market-rate property will consist of four residential buildings and a parking garage on a 4.5-acre site. Residences will comprise 17 studios, 132 one-bedroom units, 35 two-bedroom apartments and 15 two-bedroom townhome residences, each with private two-car garages. Amenities will include a clubhouse, fitness center, pool, rooftop lounge with an outdoor deck, electric vehicle charging stations and a dog park. Brandon Baksh and Brian Yee of Dwight originated the debt through HUD’s 221(d)(4) program on behalf of the local developer, Pinnacle Facility Engineering.
FORT WORTH, TEXAS — Cushman & Wakefield has arranged the sale of Centerport 1, a 122,259-square-foot distribution building in Fort Worth. The building is located just south of DFW International Airport within the 1,300-acre Centerport Business Park and was fully leased at the time of sale to print and digital communications products provider Venture Solutions. Jim Carpenter, Jud Clements, Robby Rieke and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. Rob Rubano, Max Schafer and Brian Share, also with Cushman & Wakefield, arranged acquisition financing on behalf of the buyer, Founders Properties.
HOUSTON — Steel distributor Action Stainless has signed a 105,300-square-foot industrial lease at 10111 Houston Oaks Drive in northwest Houston. Building A at the property spans 65,500 square feet with 15,000 square feet dedicated to office use, while Building B offers 39,800 square feet, including 3,000 square feet of office space. Jack Gaffney and Andrew Bischoff of Finial Group represented the undisclosed landlord in the lease negotiations.
SAN ANTONIO — CBRE has brokered the sale of an 80,000-square-foot office building located at 3900 Rogers Road on the west side of San Antonio. According to LoopNet Inc., the building was originally constructed in 2005. Larry Mendez and Yobana Castillo of CBRE represented the buyer, COPT Defense Properties, in the transaction. Chesapeake Associates Ltd. sold the asset for an undisclosed price.
AUSTIN, TEXAS — General contractor Citadel Development has completed a 10,000-square-foot office redevelopment project in Austin. The project converted a building that was originally constructed in 1970 into a modern creative office facility with outdoor green space and amenity areas, as well as onsite parking. Locally based architecture firm Mark Odom Studio designed the project.