IRVING, TEXAS — Badger Paperboard Texas, a custom paperboard converter specializing in packaging and shipping materials, has signed a 38,828-square-foot industrial lease at 3701 S. 20th Ave. in Irving. The new space is situated within International Logistics Center at Dallas-Fort Worth (DFW) International Airport. Blake Kendrick, Cannon Green and Sarah Ozanne of Stream Realty Partners represented the landlord, Cabot Properties, in the lease negotiations. CBRE represented the tenant.
RICHARDSON, TEXAS — Generational Group LLC, a Dallas-based investment banking firm, will relocate its headquarters from Dallas Parkway to CityLine, a mixed-use development in the northeastern Dallas suburb of Richardson. Steve Thelen and Anissa Guerriere of JLL represented Generational Group in the lease negotiations. Nathan Durham, Paul Wittorf and Duane Henley of Transwestern represented the landlord.
CORPUS CHRISTI, TEXAS — The Port of Corpus Christi has secured $59 million in funding from the U.S. Army Corps. of Engineers for its channel improvement project, which is valued at $360 million. The funds will be used to widen and deepen the waterways as the port anticipates handling between 2 to 3 million barrels of crude oil per day in the coming months. The federal government is covering a total of $230 million of the project costs.
TEMPLE, TEXAS — Battery producer East Penn Manufacturing Co. will expand its distribution center in the north central Texas city of Temple. The project, which will create 266 new jobs, will deliver a new facility, bringing the company’s total capital investment in the market to $106 million. The expanded facility will be situated within a 305-acre industrial park in northwest Temple, with construction slated to begin next fall, according to tdtnews.com.
RICHARDSON, TEXAS — Information technology consulting firm Infosys Ltd. will open an innovation hub in the northeastern Dallas suburb of Richardson, bringing 500 new jobs and $12.3 million in capital investment to the area by 2020. Construction of the new facility is expected to be complete by 2020. Infosys is based in Bengaluru, India, and operates in 45 countries, employing more than 200,000 people.
DALLAS — Maravilla Apartments LP has acquired Rush Creek Apartments, a 310-unit multifamily community in Dallas. Built in 1966, the property features one- and two-bedroom units and amenities such as a pool, playground and onsite laundry facilities. Dougherty Mortgage arranged an undisclosed amount of acquisition financing for the purchase through a partnership with Old Capital Lending on behalf of Maravilla. The loan carried a 12-year term and 30-year amortization schedule.
FARMERS BRANCH, TEXAS — The Retail Connection (TRC) has negotiated an 18,023-square-foot lease at 4141 LBJ Freeway in Farmers Branch, a northern suburb of Dallas. David Levinson and Kathleen Nash of TRC represented the undisclosed landlord in the lease negotiations. Jimmy Pham of Concept Commercial Realty represented the tenant, Elite Gymnastics.
DALLAS — California-based Thorofare Capital has provided a $36 million loan for the refinancing of Heritage Square I & II, an office complex totaling 368,214 square feet in Dallas. The Class A property is located at the corner of Interstate 635 and the North Dallas Tollway. Proceeds will be used to repay a maturing loan and fund tenant improvements, leasing commissions and other capital expenditures. The loan was provided to the borrower, Brookwood Heritage Square LLC, an entity sponsored by Brookwood Financial Partners LLC, which acquired the asset in 2013.
GRAND PRAIRIE, TEXAS — The City of Grand Prairie, located just west of Dallas, has opened The Epic, a 125,000-square-foot fitness and entertainment center. Situated within EpicCentral, a 172-acre development that includes a water park and adult activity center, The Epic features fitness facilities, entertainment and event space, as well as multiple onsite dining options. Architecture firm HKS designed the facility. The grand opening was held Saturday, Nov. 17. The development team will also break ground in January on a 10-acre PlayGrand Adventures park, which will be also located within EpicCentral.
KEMP, TEXAS — Dougherty Mortgage LLC has closed a $12.6 million Fannie Mae acquisition loan for The Hamlins at Cedar Creek Lake, a 208-unit multifamily property in Kemp, about 50 miles southeast of Dallas. The community offers one- and two-bedroom units and amenities such as a resort-style pool, resident clubhouse, fitness center, business center and package handling service. The loan, which was arranged through a partnership with Old Capital Lending on behalf of the borrower, TFG Hamlins LLC, featured a 12-year term and 30-year amortization schedule.