Texas

Wood Partners Begins Construction on 288-Unit Apartment Community in Plano

by Taylor Williams April 17, 2019

PLANO, TEXAS — Wood Partners, a multifamily investment and development firm with offices around the country, has begun construction on Alta 289, an apartment community in Plano that will offer 288 units in one-, two- and three-bedroom formats. In addition, units will average 913 square feet and feature stainless steel appliances, modern backsplashes, cabinetry and countertops, as well as washers and dryers. Amenities will include a pool, a dog park and outdoor courtyards. Preleasing will begin in August and completion is slated for spring 2020.

April 17, 2019

Development Office Texas

AmerisourceBergen Opens New Office at 300,000 SF Building in Metro Dallas

by Taylor Williams April 17, 2019

CARROLLTON, TEXAS — Pharmaceutical firm AmerisourceBergen has opened a new office at a 300,000-square-foot office building in northern Dallas suburb of Carrollton. Local firm Billingsley Co. developed the property, which offers amenities such as tech-enabled conference and business centers, specialized mother rooms, fitness and yoga centers, a coffee shop, café, micro-market and access to walking and biking trails. Gensler served as the project architect and StructureTone Southwest was the general contractor. Billingsley will also manage the property.

April 17, 2019

Development Industrial Texas

Trammell Crow, Clarion Break Ground on Phase II of 900,000 SF Industrial Park in Austin

by Taylor Williams April 17, 2019

AUSTIN, TEXAS — A partnership between Trammell Crow Co. and Clarion Partners has broken ground on Phase II of Park 183, an industrial development in southeast Austin. Phase II includes an 85,000-square-foot building that is fully preleased to FedEx Corp. Park 183 will ultimately span more than 900,000 square feet of Class A space across seven buildings. Completion of Phase II is slated for the fourth quarter.

April 17, 2019

Acquisitions Industrial Texas

Avison Young Arranges Sale of 40,000 SF Industrial Building in Houston

by Taylor Williams April 17, 2019

HOUSTON — Avison Young has arranged the sale of a 40,000-square-foot industrial building located at 1690 North Loop West in Houston. Situated on 6.2 acres, the facility formerly served as a printing complex for local firm Greensheet Media. Todd Mason, Jeff Lindenberger, Richard Mason and Taylor Wilson of Avison Young represented the seller, Helen Gordon Interests Ltd., in the transaction. The buyer, GSD North Loop 610 LLC, plans to develop a self-storage facility on a portion of the property.

April 17, 2019

Acquisitions Healthcare Texas

Quorum Health Corp. Sells 146-Bed Healthcare Property in Big Spring, Texas

by Taylor Williams April 17, 2019

BIG SPRING, TEXAS — Quorum Health Corp. (NYSE: QHC), an operator of general acute care and outpatient facilities across the country, has sold Scenic Mountain Medical Center, a 146-bed healthcare facility in Big Spring, about 40 miles east of Midland in West Texas. Total proceeds from the sale were approximately $22 million. The buyer was not disclosed.

April 17, 2019

Acquisitions Multifamily Texas

American Landmark Acquires $311M Multifamily Portfolio in Texas

by Taylor Williams April 16, 2019

HOUSTON, AUSTIN, IRVING AND SAN ANTONIO — Tampa-based American Landmark has acquired a portfolio of six multifamily properties totaling 2,284 units located throughout the Big Four Texas markets. The sales price was $311 million. The properties include: Hyde Park at Wells Branch and Hyde Park at Ribelin Ranch in Austin; Hyde Park at Lake Wyndemere and Hyde Park at Enclave in Houston; Lakepointe at Las Colinas in Irving; and Manor at Castle Hills in San Antonio. All properties will be rebranded, and a $14.7 million capital improvement program will be implemented across the portfolio, which was about 96 percent occupied at the time of sale. The seller was not disclosed. The acquisition brings the size of American Landmark’s Texas portfolio to 33 properties and its total volume of holdings to more than 25,000 units across Texas and the Southeast.

April 16, 2019

Industrial Leasing Activity Texas

Logistics Property Co. Negotiates 1.1 MSF Industrial Lease in South Dallas

by Taylor Williams April 16, 2019

DALLAS — Industrial development and investment firm Logistics Property Co. LLC has negotiated a 1.1 million-square-foot industrial lease at Southport Logistics Park, the Chicago-based company’s 252-acre development in south Dallas. The tenant is an undisclosed manufacturer of consumer-packaged goods. Kacy Jones and John Hendricks of CBRE represented Logistics Property Co. in the lease negotiations. Allen Gump, Lynn Reich and Suzanne Serino of Colliers International represented the tenant. At full buildout, Southport Logistics Park will house more than 3.55 million square feet of Class A space across four buildings.

April 16, 2019

Development Retail Texas

Cinépolis to Open 10-Screen Movie Theater at Shops at Willow Bend in Plano

by Taylor Williams April 16, 2019

PLANO, TEXAS — Cinépolis USA will open a 10-screen, 40,000-square-foot theater at The Shops at Willow Bend in Plano as part of owner Starwood Retail Partners’ $145 million project to expand and renovate the mall. The theater, which joins entertainment concepts like Crayola Experience and the North Texas Performing Arts Children’s Theatre, will be directly integrated into the mall and will offer a variety of food and beverage options. The venue, which is slated to open in 2020, will be Cinépolis’ third in Texas.

April 16, 2019

Leasing Activity Office Texas

Hill & Wilkinson Extends, Expands Office Lease in Metro Dallas

by Taylor Williams April 16, 2019

RICHARDSON, TEXAS — General contractor Hill & Wilkinson has entered into an agreement with landlord Pillar Commercial to extend and expand its office space in Richardson, a northeastern suburb of Dallas. The company will now occupy 58,000 square feet at 2703 Telecom Parkway. James Cooksey, Garrison Efird and Adam Faulk of Newmark Knight Frank represented Hill & Wilkinson in the lease negotiations.

April 16, 2019

Acquisitions Retail Texas

Shop Cos. Brokers Sale of 42,004 SF Shopping Center in Fort Worth

by Taylor Williams April 16, 2019

FORT WORTH, TEXAS — SHOP Cos. has brokered the sale of Woodmont Plaza North, a 42,004-square-foot retail center in Fort Worth. The property was approximately 95 percent leased at the time of sale to tenants such as Schlotzsky’s Deli, Supercuts, H&R Block, Little Caesar’s Pizza and Boost Mobile. Tim Axilrod, Tommy Tucker and Cameron Burk of SHOP Cos. represented the seller, California-based Black Lion Investment Group, in the transaction. The trio also procured the buyer, a Texas-based limited liability company.

April 16, 2019

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