DENTON, TEXAS — S3 Capital, the lending arm of New York City-based investment firm Spruce Capital Partners, has provided a $46.5 million construction loan for a 306-unit multifamily project in the North Texas city of Denton. Phase I of the garden-style development will consist of three 12-story buildings, and the property will ultimately offer amenities such as a pool, fitness center, business center and a dog park. Mauricio Ordoñez, Gastón Schneider and Carlos Vázquez of Florida-based Q Kapital Group arranged the loan on behalf of the sponsor, national developer Landmark Cos. Information on floor plans and a construction timeline was not disclosed.
HOUSTON — Cresa has arranged the sale of a 124,480-square-foot office building in North Houston. The building sits on a 10-acre site at 785 Greens Parkway in the city’s Greenspoint neighborhood. According to LoopNet Inc., the building was originally constructed in 2002 and recently underwent capital improvements that upgraded select areas and systems, such as lighting and restrooms. Brandon Wuntch and Drew Altmann of Cresa represented the seller, GK Investments Group LLC, in the transaction and procured the buyer, Leva Patidar Samaj.
BROOKSHIRE, TEXAS — Stream Realty Partners has negotiated a 94,931-square-foot industrial lease in the western Houston suburb of Brookshire. The space is located within the 2.3 million-square-foot Empire West Business Park development. Jeremy Lumbreras, Heath Donica, Justin Robinson and Matteson Hamilton of Stream internally represented the landlord in the lease negotiations. Abraham Richardson and Grant Wisenbaker, also with Stream, represented the tenant, Pointsmith Point-of-Purchase Management Services LLC.
MCKINNEY, TEXAS — Locally based developer KDC has broken ground on a 13,500-square-foot headquarters and training facility in the northern Dallas suburb of McKinney. The project is a build-to-suit for Hugs Café, an organization dedicated to providing training and employment for adults with disabilities, and will feature a training kitchen, four classrooms, a rooftop deck and a patio. Corgan is the architect, and Brasfield & Gorrie is the general contractor. Completion is slated for next summer.
RICHARDSON, TEXAS — Florida-based investment firm Basis Industrial has purchased a portfolio of 24 buildings totaling approximately 519,000 square feet in the northeastern Dallas suburb of Richardson. The portfolio consists of Arapaho Business Park, a 408,000-square-foot development, and the 111,000-square-foot Westwood Business Park. Basis also plans to open a new regional office within Building 7 at Arapaho Business Park. The seller and sales price were not disclosed.
SAN ANTONIO — EōS Fitness will open a 38,602-square-foot gym in northwest San Antonio. The site is located within Bandera Pointe shopping center in the Braun’s Farm neighborhood, and the Dallas-based operator will backfill a space previously occupied by Gold’s Gym. Rise Commercial Partners represented EōS Fitness in the lease negotiations. Global Commercial Real Estate Services represented the landlord, Bridge33 Capital. The opening is set for next year.
HOUSTON — Stream Realty Partners has negotiated the sale of a 35,650-square-foot commercial development site located at 8323 Braniff St. in Houston. The site is located near William P. Hobby International Airport on the city’s south side. The site’s specific zoning designation was not disclosed. Jack Rathe of Stream represented the sellers, a pair of private investors, in the transaction. Daniel McKinney with McKinney Real Estate Inc. represented the buyer.
AUSTIN, TEXAS — JLL has brokered the sale of San Clemente at Davenport, a 31,832-square-foot retail center located at the corner of Loop 360 and West Lake Drive in northwest Austin. Mexican restaurant Fresa’s anchors the center, and other tenants include Iron Fitness and Greenlake Energy. JLL represented the seller, Texas-based HPI Real Estate Services & Investments, in the transaction. Houston-based Whitestone REIT purchased the center for an undisclosed price.
DALLAS — McDermott Will & Emery has signed a 25,024-square-foot office lease at the 19-block Harwood District in Uptown Dallas. The international law firm is relocating within the district to the top floor of Harwood No. 14, which is the newest addition to the development. The space can accommodate about 65 lawyers and staff. No third-party brokers were involved in the lease negotiations.
INOLA, OKLA. — Emirates Global Aluminium plans to open a $4 billion manufacturing plant near Tulsa in northeastern Oklahoma, an initiative that is expected to facilitate the direct creation of about 1,000 new jobs. A timeline for opening was not announced, but Recycling Today reports that construction could begin as soon as the end of next year. The facility will be located on more than 350 acres at Tulsa Port of Inola, a 2,200-acre industrial park with access to rail and nautical transportation networks. Once complete, the facility will be the largest of its kind in the country, producing billets, sheet ingots, high-purity aluminum and foundry alloys. The new Emirates facility is also expected to be responsible for the creation of 1,800 indirect jobs. According to ChemAnalyst, at full capacity, the plant will be able to annually produce 600,000 tons of the metal, a figure that reflects a virtual doubling of the current domestic aluminum production. The project team says this facility represents the first manufacturing plant for this material to come on line in the United States in the past 45 years. The news follows that of the $300 million investment from CBC Global Ammunition, which also selected Oklahoma …