AUSTIN, TEXAS — Stonelake Capital Partners is underway on construction of Domain Tower II, a 24-story office project within The Domain mixed-use development on Austin’s north side. Designed by Beck Group, the property will ultimately span 330,000 square feet. A timeline for completion was not released. Stonelake recently completed construction of Domain Tower, which is fully leased to employment search engine Indeed.
HOUSTON — Finial Investments has acquired a 23,750-square-foot industrial building located at 203 Blue Bell Road in Houston. The property was fully leased at the time of sale to ACE Steel Supply. Doc Perrier of Finial Group represented the buyer in the transaction on an internal basis. The seller was not disclosed.
MANSFIELD, TEXAS — Belk Department Store and T.J. Maxx have opened their stores at Shops at Broad, a 430,000-square-foot mixed-used development located in Mansfield, located southeast of Fort Worth. The new retail and restaurant locations will join Academy Sports + Outdoors and At Home, both of which opened in October 2018. CBRE handles leasing of the property on behalf of the owner and developer, Geyer Morris Co.
FORT WORTH, TEXAS — JLL has negotiated a 22,414-square-foot office lease for Property Damage Appraisers at the Pier 1 Imports building in Fort Worth. The space will serve as the company’s new corporate headquarters. Michael Morgan of Hertz Investment Group, which owns the building, and Pat McDowell of JLL handled the transaction.
HOUSTON — COE Distributing, a wholesale distributor of office furniture, has signed a 251,754-square-foot industrial lease at Highland Grove Industrial Park in northwest Houston. COE will lease newly renovated cross-dock space that was formerly occupied by grocery chain Randalls. Cory Driskill and Travis Covington of Crow Holdings Industrial and Faron Wiley of CBRE represented the landlord, CRP/CHI Randalls Owner LP, in the lease negotiations. John Parsley, Barrett Gibson and Jason English of Colliers International represented the tenant.
AUSTIN, TEXAS — Arrowroot Real Estate, a California-based private equity firm, has acquired Lamar Station Apartments, a 192-unit community in North Austin. Built in 1983, the property’s unit interiors were recently upgraded, and Arrowroot plans to implement capital improvements to the amenity spaces as well. Charles Cirar and Michael Wardlaw of CBRE brokered the transaction, representing the undisclosed seller. Brian Eisendrath and Cameron Chalfant, also with CBRE, arranged $22.4 million in acquisition financing on behalf of Arrowroot.
DALLAS — Accesso, an investment manager and operator of office buildings, has added three tenants to 2626 Cole, the company’s 121,000-square-foot office building in the Uptown/Turtle Creek area of Dallas. WorkSuites signed a lease for 28,600 square feet; Republic Editorial inked a deal for 12,300 square feet; and Annandale Capital signed a lease of an undisclosed size. The leasing activity brings the occupancy of the property, which was recently renovated, to 95 percent.
ELGIN, TEXAS — Dallas-based STRIVE has arranged the sale of House Park Shopping Center, a 20,200-square-foot retail strip center in Elgin, located northeast of Austin. The property was 90 percent occupied at the time of sale. James Anderson of STRIVE represented the seller and procured the buyer, both of which were locally based investors.
ADDISON, TEXAS — Discount apparel retailer Ross Dress for Less has opened a 21,088-square-foot store at Addison Town Center on the northern outskirts of Dallas. The official opening was held on Oct. 12. Bernard Shaw of Weitzman represented the owner of Addison Town Center, which houses tenants such as Kroger Signature, Target, PetSmart, Crunch Fitness, Dollar Tree, GNC and Great Clips, in the lease negotiations.
HOUSTON — Clarion Partners LP has landed three new office tenants with a combined footprint of 187,054 square feet at Westchase Park, the company’s 560,825-square-foot office development in Houston. LJA Engineering Inc. leased 90,989 square feet, and Centurion Pipeline Co. LLC leased 28,078 square feet, with both firms planning to take occupancy during the first half of 2020. Additionally, ABB Inc. renewed its lease for 67,987 square feet. Eric Anderson, Parker Burkett, and Katy Gragg of Transwestern Commercial Services represented Clarion Partners in the lease negotiations. Lonna Dorman of Transwestern represented Centurion; Anthony Squillante and Dustin Devine of Stream Realty Partners represented LJA; and Beau Bellow and Josh Hirsch of JLL represented ABB Inc.
