HOUSTON — NorthPoint Development LLC has acquired 190 acres at the intersection of U.S. Route 90 and Uvalde Road in northeast Houston for the development of a 2.5 million-square-foot industrial park. The seven-building property will be branded NorthPoint 90 Logistics Center. Michael Keegan of NAI Partners represented the seller, Sowell Equities-Forestwood LP, in the transaction, which marks the largest industrial land sale in Houston in 2019 year-to-date. Blake Gibson and Ryan Byrd of Colliers International represented NorthPoint and will be marketing the property for lease.
WACO, TEXAS — Houston-based NewQuest Properties has broken ground on Cottonwood Creek Market, a 143-acre entertainment retail project in Waco. Located at the intersection of Interstate 35 and Loop 340, the development will span 285,000 square feet. A 14-screen Cinemark theater will anchor the project, and NewQuest is in talks to add a bowling and family dining concept, as well as a national retailer in golf entertainment. The opening is scheduled for spring 2020.
SPRINGTOWN, TEXAS — Marcus & Millichap has brokered the sale of West Side Storage, a 278-unit facility in Springtown, located northwest of Fort Worth. The property, which spans 44,500 net rentable square feet, features non-climate-controlled, drive-up units ranging in size from 100 to 300 square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and developer of the property, in the transaction. The buyer was a Fort Worth-based owner-operator of self-storage facilities.
DALLAS — JLL has provided a Fannie Mae loan of an undisclosed amount for the refinancing of Trinity Village Apartments, a 256-unit multifamily community in North Dallas. The property offers one- and two-bedroom units and amenities such as a pool, dog park and onsite laundry facilities. Mark Brandenburg of JLL originated the loan on behalf of the borrower, Frontline Holdings.
IRVING, TEXAS — JPI, an Irving-based multifamily developer with more than 5,000 units under construction, has named former chief development officer Brad Taylor as its new CEO, effective as of July 1. In addition, the company has appointed Chris Clayton, formerly of Forest City Realty Trust, as its new CFO. JPI will also establish a board of directors consisting of Bobby Page, Ron Ingram, Mark Bryant and Kirk Motsenbocker, who previously served as the company’s executive committee. JPI’s adjustments to its leadership structure reflect the company’s effort to focus on optimizing current and future market opportunities.
FLOWER MOUND, TEXAS — A partnership between Irving-based Realty Capital and Dallas-based Staubach Capital has broken ground on Lakeside International Office Center, a 138,000-square-foot office project in the northern metroplex city of Flower Mound. The project will consist of a 120,000-square-foot building and an 18,000-square-foot building with amenities such as a tenant lounge, coffee bar and a trail system connecting to the nearby Shops at Lakeside. IntelliCentrics, a healthcare credentialing firm, has signed a 30,000-square-foot lease to become the property’s inaugural tenant. JLL’s Doug Carignan represented the tenant in the lease negotiations. BOKA Powell is the project architect, and Muckleroy & Falls is the general contractor. Completion is slated for the third quarter of 2020. JLL’s Cannon Camp and Chris Doggett will lead the marketing and leasing efforts for the property. Staubach Capital provided the equity financing, and First United Bank is providing the debt financing for the project.
IRVING, TEXAS — Dallas-based Disney Investment Group has arranged the $17 million sale of Towne North, a 124,289-square-foot shopping center in Irving. Anchored by El Rancho Supermarket, the property was 84 percent leased at the time of sale. David Disney and Adam Crockett of Disney Investment Group represented the seller, an entity controlled by HSM Equities, and procured the undisclosed buyer.
BARTLESVILLE, OKLA. — CBRE has brokered the sale of a 91,653-square-foot retail property located at 501 SE Washington Blvd. in Bartlesville, located north of Tulsa. Stuart Graham, Mark Inman and Kendra Roberts of CBRE represented the seller, BB2S Bartlesville LLC, in the transaction. The buyer, ECTS LLC, acquired the asset for approximately $2.5 million.
DALLAS — The Dallas Cowboys, in partnership with global fitness center developer Mark Mastrov, will open a 20,000-square-foot Cowboys Fit gymnasium at the AT&T Discovery District in downtown Dallas. Club members can enjoy a range of boutique fitness classes, including yoga and barre, as well as access to customized fitness plans and Cowboys merchandise. The opening is slated for this winter.
KATY, TEXAS — Oilfield Testing & Consulting (OTC) has signed a 14,800-square-foot office and lab lease at Grandway West, an 85-acre development in Katy, a western suburb of Houston. Jordan Raney and David Buescher of JLL represented OTC in the lease negotiations. Rives Nolen, John Stavinoha and Steve Hazel of Insite Realty represented the landlord, Urban Cos.