Texas

Weitzman Begins Renovation of 330,000 SF Retail Power Center in Grapevine, Texas

by Taylor Williams March 13, 2019

GRAPEVINE, TEXAS — Weitzman has begun the renovation of Grapevine Towne Center, a 330,000-square-foot retail power center located about 25 miles northeast of downtown Fort Worth. The property, which is anchored by Target and opened in the mid-1990s, is also home to tenants including Ross Dress for Less, Big Lots, Bealls, Office Depot and Jason’s Deli. Hodges & Associates is the architect for the project, which will add modern lifestyle elements and pedestrian-friendly features, as well as an updated façade. Completion is slated for the second half of this year.

March 13, 2019

Acquisitions Multifamily Texas

Creative Realty Partners Purchases 338-Unit Multifamily Asset in San Antonio

by Taylor Williams March 13, 2019

SAN ANTONIO — California-based Creative Realty Partners (CRP) has purchased Escondido Village, a 338-unit multifamily asset in San Antonio. Built in 1969, the recently renovated property is located near The Rim, a shopping and dining destination, as well as USAA’s headquarters. Escondido Village offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, picnic area, dog park and a playground. The seller was not disclosed. Florida-based Michaelson Real Estate Group will operate the property.

March 13, 2019

Loans Multifamily Texas

Q10 KDH Arranges $28M Construction Loan for Houston Multifamily Project

by Taylor Williams March 13, 2019

HOUSTON — Local financial intermediary Q10 KDH has arranged a $28 million construction loan for The Territory at Greenhouse, a 288-unit multifamily project under construction on Houston’s west side. The property will offer amenities such as a pool, fitness center, business center and a dog park. Ryan Watson of Q10 KDH placed the loan, which includes three years of interest-only payments, through an undisclosed regional bank on behalf of the sponsor, Dhanani Private Equity Group.

March 13, 2019

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 30,000 SF Industrial Lease in Metro Dallas

by Taylor Williams March 13, 2019

FARMERS BRANCH, TEXAS — Holt Lunsford Commercial has negotiated a 30,000-square-foot industrial lease at 4535 Simonton Road in the northern Dallas metro of Farmers Branch. Andrew Gilbert of Holt Lunsford represented the landlord, TA Realty, in the lease negotiations. Guy Brignon of Cross Creek Consulting represented the tenant, Design Expediting Services International LLC.

March 13, 2019

Development Mixed-Use Texas

Endeavor, MetLife Break Ground on 30-Story Mixed-Use Tower in Downtown Austin

by Taylor Williams March 12, 2019

AUSTIN, TEXAS — Endeavor Real Estate Group and joint venture partner MetLife Investment Management have broken ground on The Quincy, a 30-story mixed-use tower that will be located in downtown Austin. The project will deliver 347 apartments across 19 floors, three floors of Class A office space totaling 77,540 square feet and 10,360 square feet of ground-floor retail space. Amenities will include a pool, exercise lawn, sports lounge, media room and a coworking space and business center, as well as a dog park, package lockers and an Uber pickup lounge. The Quincy is expected to open in early 2021.

March 12, 2019

Acquisitions Industrial Texas

Colliers Brokers Sale of 251,569 SF Business Park in Houston

by Taylor Williams March 12, 2019

HOUSTON — Colliers International has brokered the sale of Brookhollow West Business Park, a 251,569-square-foot industrial property located at 9777 W. Gulf Bank Road in Houston. The property was built in 1977 on 15.4 acres. Walter Menuet and Judd Harrison of Colliers represented the seller, CUNA Mutual Investment Corp. Abco Industrial Properties represented the buyer, Gulf BK LLC.

March 12, 2019

Acquisitions Multifamily Texas

The Multifamily Group Arranges Sale of Community in Harker Heights, Texas

by Taylor Williams March 12, 2019

HARKER HEIGHTS, TEXAS — The Multifamily Group (TMG) has arranged the sale of Lions Run, an apartment community located in the central Texas city of Harker Heights. Built in the mid-1980s, the property features one- and two-bedroom units and amenities such as a pool, spa and outdoor grilling area. Paul Yazbeck and Will Clarke of TMG represented the Dallas-based seller and procured the buyer in the transaction.

March 12, 2019

Development Office Retail Texas

MARCEL to Develop 76,000 SF Retail, Office Project in Fulshear, Texas

by Taylor Williams March 12, 2019

FULSHEAR, TEXAS — MARCEL, a privately owned real estate firm based in The Woodlands, will develop Cross Creek Town Center, a 76,000-square-foot retail and office project in Fulshear, about 35 miles west of Houston. The development, completion of which is set for spring 2020, will include restaurant and entertainment space as part of its retail use.

March 12, 2019

Industrial Leasing Activity Texas

Bradford Commercial Negotiates 51,200 SF Warehouse Lease in Metro Dallas

by Taylor Williams March 12, 2019

GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate Services has negotiated a 51,200-square-foot warehouse lease at Trinity West Business Center in Grand Prairie, a northern suburb of Dallas. The tenant, full-service moving company All Points of Texas, occupies 36 percent of the space at the 140,800-square-foot property. Jim Ferris and Michael Spain of Bradford Commercial represented the local landlord, OMO Investment Co. Trust, in the lease negotiations.

March 12, 2019

Development Office Texas

Capella Capital Partners to Develop 450,000 SF Office Building in Austin

by Taylor Williams March 11, 2019

AUSTIN, TEXAS — Capella Capital Partners will develop Arena Tower, a 450,000-square-foot office building in Austin. The 19-story, Class A property will be located near the site of the future Austin FC stadium just south of The Domain on the city’s north side. In addition to 35,000- to 50,000-square-foot floor plates, the property will feature four parking spaces per 1,000 square feet. Amenities will include a tenant lounge, fitness center with locker rooms, a juice bar and an outdoor yoga area. AQUILA Commercial will handle leasing of the project, which is slated for a first-quarter 2021 delivery.

March 11, 2019

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