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The-Colonnade-Addison-Texas
LoansOfficeTexas

EverWest Arranges $63M Loan for Refinancing of Metro Dallas Office Complex

by Taylor Williams

ADDISON, TEXAS — Denver-based EverWest Real Estate Investors has arranged a $63 million loan for the refinancing of The Colonnade, a 1 million-square-foot office complex in the northern Dallas metro of Addison. The Class A property, which is owned by New York-based Fortis Property Group, was built in phases between 1983 and 1998, with $32.5 million in renovations completed between 2015 and 2017. The Colonnade’s tenants roster includes Hilton, United Surgical Partners and Zurich American Insurance. Property amenities include a fitness center with locker rooms, a retail store, conference center and an eight-story parking garage. Tom McCahill, Joe Chickey and Zi Chong of EverWest placed the five-year loan through UBS.

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Aspire-at-610-Houston
AcquisitionsMultifamilyTexas

American Landmark Acquires Newly Built Apartment Community in Houston

by Taylor Williams

HOUSTON — Florida-based investment firm American Landmark has acquired Haven at Lakes of 610, a 282-unit multifamily community in Houston. Built in 2018, the property offers one- and two-bedroom units with granite countertops, washer/dryer connections and kitchen islands. Amenities include a pool with a sundeck, resident clubhouse and a business center, along with a dog-washing station, fire pits and a package locker system set to be added as part of a $1.4 million capital improvement program. American Landmark acquired the property, its seventh acquisition in the Houston area, from a joint venture between Guefen Development and The Rainier Cos., and will also rebrand the community as Aspire at 610.  

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AcquisitionsIndustrialSelf-StorageTexas

Bellomy Brokers Sale of 256-Unit Boat, RV Storage Facility in Magnolia, Texas

by Taylor Williams

MAGNOLIA, TEXAS — Bellomy & Co. has brokered the sale of Bear Branch Boat & RV Storage, a facility situated on 6.1 acres in Magnolia, about 45 miles northwest of Houston. The property, which was 98 percent occupied at the time of sale, features 256 enclosed and partially opened boat and RV units totaling 96,810 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the buyer, Houston-based Copra Holdings LLC. Craig Rice of CSD Realty represented the locally based seller.

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Meachum-Crossing-Fort-Worth
IndustrialLeasing ActivityTexas

Holt Lunsford Negotiates 183,832 SF Industrial Lease in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated an industrial lease at Meachum Crossing, a 183,832-square-foot industrial facility in Fort Worth. Meachum Crossing features 30- to 32-foot clear heights, 31 overhead dock doors, 22 trailer parking spaces and an ESFR sprinkler system. Donnie Rohde and Matt Carthey of Holt Lunsford represented the landlord, Mapletree, in the lease negotiations. Bob Scully of CBRE represented the tenant, ITW Food Equipment.

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IndustrialLeasing ActivityOfficeTexas

Sports Merchandiser Relocates from Colorado to 24,506 SF Flex Space in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Team ProMark, a supplier of licensed sports merchandise, has relocated its headquarters from Colorado to Fort Worth, signing a 24,506-square foot office/warehouse lease at 5001 North Freeway. Nick Talley of Bradford Commercial Real Estate Services represented Team ProMark, which will occupy roughly half the space at the property for seven years, in the lease negotiations. Jeff Givens and Todd Hawpe of Transwestern represented the landlord, 5001 North Freeway LLC.

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The-Christopher-Dallas
DevelopmentMultifamilyTexas

StreetLights Residential Opens 309-Unit Apartment Community at The Union in Dallas

by Taylor Williams

DALLAS — StreetLights Residential has opened The Christopher, a 309-unit apartment community located within The Union, a mixed-use development by RED Development in Uptown Dallas. Rents for units, which feature decorative tile backsplashes, custom cabinetry, private balconies and built-in washers and dryers, start at $2,270 per month. The Christopher offers private alcoholic beverage and coffee bars, a pool, fitness center and lounge space. The opening of the 31-story residential tower marks Phase II of The Union, following the opening of the office component last October.

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The-Crossing-Dallas
DevelopmentMixed-UseTexas

Convexity Properties Breaks Ground on Eight-Acre Mixed-Use Project in Dallas

by Taylor Williams

DALLAS — Chicago-based Convexity Properties has broken ground on The Crossing, an eight-acre mixed-use project that will be located near Southern Methodist University in Dallas. The development will include 500,000 square feet of residential space, which translates to 330 apartments according to The Dallas Business Journal, as well as 90,000 square feet of street-level retail and restaurant space. The site also houses a 225,000-square-foot office building.

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RetailTexas

Kroger to Launch Autonomous Delivery Service at Two Houston Stores

by Taylor Williams

HOUSTON — The Kroger Co. (NYSE: KR) will launch its autonomous grocery delivery service at two of its Houston stores, serving customers in four local ZIP codes. One store is located at 10306 S. Post Oak Road on the city’s southwest side, and the other is located at 5150 Buffalo Speedway in the Greenway area. Kroger has partnered with California-based robotics company Nuro to unroll the new service, which first debuted in Scottsdale, Ariz., in August 2018.

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AcquisitionsRetailTexas

EDGE Realty Brokers Sale of 11,911 SF Retail Center in Houston

by Taylor Williams

HOUSTON — EDGE Realty Capital Markets has brokered the sale of Citywest Retail Center, an 11,911-square-foot shopping center located at 2550 Citywest Blvd. and 10550 Westheimer Road in Houston. The property houses several national and regional tenants, including FedEx, MOD Pizza, Panera Bread and Tropical Smoothie Café. Micha van Marcke and Chace Henke of EDGE Realty represented the seller in the transaction. The buyer and sales price were not disclosed.

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Leasing ActivityRestaurantRetailTexas

Venture Commercial Executes Two Restaurant Leases Totaling 11,225 SF in North Texas

by Taylor Williams

DENTON AND ADDISON, TEXAS — Venture Commercial has executed two restaurant leases totaling 11,225 square feet in North Texas. The Lion & Crown, an English-style pub, will occupy 9,700 square feet at 101 W. Hickory St. in Denton, and 3 Natives Juice Bar has signed a 1,525-square-foot lease at 5100 Belt Line Road in Addison. In the first transaction, Greg Blandford of Venture Commercial represented the tenant, and Alex Payne of Axis Realty Group of Denton Inc. represented the landlord. In the second deal, Tim Henson of Venture Commercial represented the tenant and Amanda Throckmorton and Easley Waggoner, also with Venture Commercial, represented the landlord.

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