Texas

Partnership Sells 300-Unit Apartment Community in Houston

by Taylor Williams July 25, 2019

HOUSTON — A partnership between New York-based GAIA Real Estate, Menora Mivtachim Insurance and Amitim Senior Pension Funds has sold Cashel Springs, a 300-unit apartment community in northwest Houston. The partnership acquired the community in 2015 and executed a value-add program. The property offers one- and two-bedroom units ranging in size from 534 to 1,107 square feet. Amenities include two pools, a fitness center, an outdoor grilling area and onsite laundry facilities. Matt Saunders of Newmark Knight Frank represented the undisclosed buyer in the transaction.

July 25, 2019

Leasing Activity Office Texas

Venture X to Open 30,000 SF Coworking Space in Metro Dallas

by Taylor Williams July 25, 2019

LEWISVILLE, TEXAS — Venture X will open a 30,000-square-foot coworking space within Offices at The Realm, a 235,000-square-foot office building located in the northern Dallas metro of Lewisville. Developed by Bright Realty, the property offers a fitness center, conference center, rooftop deck, event space and water design features. Sarah Savage, Ryan Hoopes and Tom Sutherland of Cushman & Wakefield represented Venture X in the lease negotiations. Lincoln Property Co. represented Bright Realty. The space is expected to open in early 2020.

July 25, 2019

Development Office Texas

Bob Moore Construction Breaks Ground on Trade Group Headquarters in Grapevine

by Taylor Williams July 25, 2019

GRAPEVINE, TEXAS — Bob Moore Construction has broken ground on the new headquarters building in the northern Fort Worth suburb of Grapevine for The Trade Group, which provides exhibiting supplies for conventions and trade shows. The Trade Group will occupy 218,000 of the property’s 318,00 square feet upon relocating from Carrollton. Completion of the new facility is slated for mid-2020.

July 25, 2019

Development Multifamily Texas

Hillwood Underway on 332-Unit Apartment Community in Fort Worth

by Taylor Williams July 24, 2019

FORT WORTH, TEXAS — Hillwood is underway on construction of Tacara Village, a 332-unit multifamily community that will be located within the company’s 26,000-acre AllianceTexas campus in Fort Worth. The property will offer 14 different floor plans and will feature smart locks and thermostats from provider Dwelo. Amenities will include a pool, outdoor kitchen, fitness center, pet park, game room and access to nearby walking trails and parks. Phase I of the project will open later this summer, and full completion is slated for early 2020.

July 24, 2019

Acquisitions Multifamily Texas

S2 Capital Acquires 272-Unit Cypress Club Apartments in Arlington

by Taylor Williams July 24, 2019

ARLINGTON, TEXAS — Locally based investment firm S2 Capital has acquired Cypress Club Apartments, a 272-unit multifamily community in Arlington. Built in 2014, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and playground. The seller was not disclosed. Mark Brandenburg of JLL arranged acquisition financing for the transaction through Freddie Mac.

July 24, 2019

Acquisitions Multifamily Texas

Limited Liability Company Buys 102-Unit Multifamily Asset in Kingsville, Texas

by Taylor Williams July 24, 2019

KINGSVILLE, TEXAS — A limited liability company has purchased Hawks Landing, a 102-unit multifamily asset in Kingsville, located south of Corpus Christi. The community features a pool, dog park, basketball court, playground and a resident clubhouse. Dougherty Mortgage arranged an undisclosed amount of Fannie Mae acquisition financing through a partnership with Old Capital Lending on behalf of the new ownership. The names of the buyer and seller were not released.

July 24, 2019

Acquisitions Industrial Texas

Brennan Investment Group Sells Two Industrial Buildings Totaling 84,535 SF in Austin

by Taylor Williams July 24, 2019

AUSTIN, TEXAS — Chicago-based Brennan Investment Group has sold two industrial properties totaling 84,535 square feet in Austin. The first property is located at 4120 Commercial Center Drive near Austin-Bergstrom International Airport on the southeast side. The second building is located at 9210 Cameron Drive on the northeast side. The buyer was Texas-based investment firm Stonelake Capital Partners. Both buildings were fully occupied at the time of sale.

July 24, 2019

Industrial Leasing Activity Texas

Plastic Manufacturer Signs 127,789 SF Industrial Lease Renewal in Dallas

by Taylor Williams July 24, 2019

DALLAS — Rehrig Pacific Co., which manufactures and distributes plastic products for the food and agriculture industries, has signed a 127,789-square-foot industrial lease renewal at 613-625 Mockingbird Lane in Dallas. Canon Shoults of Holt Lunsford Commercial represented the landlord, Alpha Industrial, in the lease negotiations. Craig Jones of JLL represented the tenant.

July 24, 2019

Leasing Activity Retail Texas

First Anchor Tenants Open Stores at 275,000 SF Retail Center in Terrell, Texas

by Taylor Williams July 23, 2019

TERRELL, TEXAS — A group of anchor tenants that includes Ross Dress for Less, Hobby Lobby and Five Below have opened their stores at Crossroads at Terrell, a 275,000-square-foot shopping center located about 35 miles east of Dallas. Marshalls, Rack Room Shoes, Ulta Beauty, Petco, and Academy Sports + Outdoors are scheduled to open later this year. Film Alley, an entertainment concept with movies, bowling and arcades, opened at Crossroads at Terrell earlier this year. Future restaurant users at the property will include Olive Garden, Raising Cane’s and Chili’s, which will accompany the likes of Whataburger, Chick-fil-A and Chipotle Mexican Grill. RealtyLink and Oakridge Investments are co-developing the property, and CBRE is leasing it.

July 23, 2019

Acquisitions Multifamily Texas

Greysteel Arranges Sale of 232-Unit Multifamily Asset in El Paso

by Taylor Williams July 23, 2019

EL PASO, TEXAS — Greysteel has arranged the sale of Las Lomas Apartments, a 232-unit multifamily asset in El Paso. The property is located adjacent to several entertainment concepts, including Topgolf, Alamo Drafthouse Cinema and iFly indoor skydiving facility. Jack Stone, Doug Banerjee and Andrew Hanson of Greysteel represented the Chicago-based seller and procured the California-based buyer in the transaction.

July 23, 2019

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