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RetailTexas

Sprouts Farmers Market Expands Grocery Pickup, Delivery Service to 30 Texas Stores

by Taylor Williams

PHOENIX — Sprouts Farmers Market has expanded its grocery pickup and delivery platform to 30 of its store in Texas as the Phoenix-based grocer faces heightened demand amid the COVID-19 outbreak. Customers may choose between same-day pickup and ordering several days in advance. Sprouts has partnered with Instacart to roll out its delivery service and plans to have it available at its 340 nationwide stores by early May. Sprouts currently operates about 45 stores in Texas, with two more slated to open in the coming months in Houston and Tyler.

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IndustrialLeasing ActivityTexas

CBRE Negotiates 152,274 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams

COPPELL, TEXAS — CBRE has negotiated a 152,274-square-foot industrial lease renewal at 200 Northpoint Drive in Coppell, located near DFW International Airport. According to LoopNet Inc., the property was built in 2006 and totals 549,848 square feet. Brian Gilchrist and Tim Vogds of CBRE represented the tenant, HVAC manufacturing firm Hart & Cooley, in the lease negotiations. The name and representative of the landlord were not disclosed.

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AcquisitionsIndustrialTexas

Marcus & Millichap Brokers Sale of 35,183 SF Industrial Building in Devine, Texas

by Taylor Williams

DEVINE, TEXAS — Marcus & Millichap has brokered the sale of a 35,183-square-foot industrial building located along the Interstate 35 corridor in Devine, a suburb of San Antonio. A national oilfield services firm currently occupies the property. Brennan Foley and Joshua Murphy of Marcus & Millichap represented the seller, a private investor, in the transaction. Other terms of sale were not disclosed.

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HealthcareLeasing ActivityOfficeTexas

Magellan Health Signs 8,000 SF Lease at Offices Two at Frisco Station

by Taylor Williams

FRISCO, TEXAS — Magellan Health, a Fortune 500 healthcare provider based in Phoenix, has signed an 8,000-square-foot lease at The Offices Two at Frisco Station on the northern outskirts of Dallas. VanTrust Real Estate developed the 210,000-square-foot speculative property, which now has more than a third of its space leased to healthcare providers. The building is 75 percent leased overall. VanTrust has begun preleasing The Offices Three at Frisco Station and expects to complete that project in early 2021.

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IndustrialTexas

Dallas-Fort Worth Remains National Leader in Industrial Construction Volume Amid COVID-19, Says CBRE

by Taylor Williams

LOS ANGELES — With roughly 24 million square feet of space under construction at the end of the first quarter of 2020, Dallas-Fort Worth (DFW) leads the nation’s major markets in terms of volume of new industrial development, according to a new report from Los Angeles-based CBRE. About 19 percent of that space has been preleased. The metroplex also led the nation in this category at the end of 2019 with 23 million square feet of space under construction, and with Texas deeming such projects as essential services, that title has remained intact amid the COVID-19 outbreak. Of the top 20 markets listed in the report, only four — Philadelphia, Oakland, Central New Jersey and Pennsylvania’s I-78/81 Corridor — have shut down industrial construction sites. The report projected that completions of speculative projects across the country would have only a “marginal” impact on the overall industrial vacancy rate in 2020, with many of these projects having been put on hold as debt markets have faced tightening capital reserves and uncertainty on how to accurately price risk. CBRE’s report also noted that while prices for construction materials are declining, developers are also encountering delays in getting materials to sites. Lastly, the …

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DevelopmentOfficeTexas

KDC Tops Out JPMorgan Chase’s 540,000 SF Office Expansion Project at Legacy West in Plano

by Taylor Williams

PLANO, TEXAS — Local developer KDC has topped out Phase II of an office expansion project for JPMorgan Chase at the Legacy West mixed-use development in Plano. The investment banking giant opted to take an additional 540,000 square feet in a build-to-suit project following the completion of its initial 1 million-square-foot campus at Legacy West in 2017. With the inclusion of the new 12-story tower, which is expected to be complete in May 2021, JPMorgan Chase will be able to grow its workforce by an additional 4,000 employees. Campus amenities include training and conference space, a food court, dining area and coffee shop, health and wellness center, childcare center and a bank branch. HKS served as the project architect for Phase II, and Balfour Beatty is the general contractor.

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AcquisitionsMultifamilyTexas

JLL Negotiates Sale of 188-Unit Loop Apartments in Conroe, Texas

by Taylor Williams

CONROE, TEXAS — JLL has negotiated the sale of The Loop Apartments, a 188-unit multifamily community in Conroe, about 40 miles north of Houston. Built in 2017, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor entertainment area and a dog park. Greg Austin, Chip Nash, Bob Heard, Chris Curry, Todd Marix, Chris Young, Joey Rippel and Kyle Whitney of JLL represented the seller, Apartment Advisors Inc., in the transaction. Tim Leonhard, Mary Davis and Eric Hightower of JLL arranged Fannie Mae acquisition financing for the undisclosed buyer.

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AcquisitionsMultifamilyTexas

BoaVida Group Acquires Mobile Home Park in Northeast San Antonio for $11.2M

by Taylor Williams

SAN ANTONIO — The BoaVida Group, a California-based owner-operator of mobile home and RV parks, has acquired Lamplighter Mobile Home Park, a 232-site property in San Antonio. The sales price was $11.2 million. The property is located on the city’s northeastern side and features a pool, office and resident clubhouse. The seller was not disclosed.

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Texas

Gov. Abbott: Texas Retailers, Restaurants May Reopen Friday at Limited Capacities

by Taylor Williams

AUSTIN, TEXAS — Texas Gov. Greg Abbott released details on Monday of his Phase I plans to reopen the state’s economy, providing specific guidelines and protocols for an array or retail and civic services. Beginning Friday, May 1, all retail stores, restaurants, movie theaters and malls may reopen, but with their capacities limited to 25 percent of their listed maximum occupancies. Texas counties that had five or fewer COVID-19 cases as of Thursday, April 30 may reopen these establishments at 50 percent of their original capacities. Food courts, play areas and interactive displays will remain closed in malls. Museums and libraries may reopen under the same guidelines, but public venues such as pools, bars, gyms, amusement parks, bowling alleys and video arcades will remain closed throughout Phase I. Nursing homes, assisted living facilities and similar senior living establishments must remain closed to visitors. In his announcement, the governor also said that Texas is launching a statewide testing and contact tracing program developed by the Texas Department of State Health Services and put forth new public health protocols for all Texans seeking to venture into these public arenas during Phase I. The initial phase of the reopening plan will expire no …

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