Texas

JV to Develop 568,000 SF Office Campus for Hewlett Packard Enterprise in Metro Houston

by Taylor Williams November 1, 2018

SPRING, TEXAS — A joint venture between Patrinely Group, USAA Real Estate and CDC Houston will develop Hewlett Packard Enterprise’s (HPE) new 568,000-square-foot office campus in metro Houston. The property will be located within CityPlace, a 60-acre mixed-use development in the northern Houston suburb of Spring. Amenities may include a fitness center, café and an open courtyard. The developers plan to break ground during the fourth quarter. HPE is a Palo Alto-based information technology firm that was founded in 2015 as part of the splitting of Hewlett-Packard into two firms — HPE and HP Inc., the Los Angeles-based manufacturer of printers, PCs and mobile devices.

November 1, 2018

Development Office Texas

Joint Venture to Build 165,000 SF Office Property on Highlander Hotel Site in Austin

by Taylor Williams November 1, 2018

AUSTIN, TEXAS — A joint venture between the owners of the former Highlander Hotel and the family of former Austin mayor Roy Butler will develop Midtown Point, a 165,000-square-foot office property. The property will be situated on 2.5 acres at the site of the Highlander Hotel, which will be demolished. The project is currently in the design and permitting stages, with delivery slated for 2021. AQUILA Commercial will handle leasing and management of the building.

November 1, 2018

DeSoto-Transitional-Rehabilitation-Center

Development Multifamily Seniors Housing Texas

Madison Marquette Breaks Ground on 55,000 SF Skilled Nursing Facility in Metro Dallas

by Taylor Williams November 1, 2018

DESOTO, TEXAS — Madison Marquette, which recently merged with PMRG, has broken ground on DeSoto Transitional Rehabilitation Center, a 55,000-square-foot skilled nursing facility in DeSoto, a southern suburb of Dallas. HMG Healthcare will operate the 100-bed facility, which is being developed in partnership with Global Health LLC and an associated group of multidisciplinary physicians and operation specialists. Completion is slated for the fourth quarter of 2019.

November 1, 2018

Acquisitions Retail Texas

SHOP Cos. Negotiates Sale of Two Retail Centers Totaling 39,711 SF in DFW Metroplex

by Taylor Williams November 1, 2018

PLANO AND MANSFIELD, TEXAS — SHOP Cos. has negotiated the sale of Plano Crossing Building 1 and Mansfield Commons, two retail centers totaling 39,711 square feet in Plano and Mansfield, two cities in the Dallas-Fort Worth (DFW) metroplex. The properties are shadow-anchored by a Home Depot and Walmart Supercenter, respectively, and were both fully leased at the time of sale. Tim Axilrod and Tommy Tucker of SHOP Cos. represented the seller, California-based Black Lion Investment Group, in the Plano deal. The duo represented the buyer, a Texas-based limited liability company, in the Mansfield deal.

November 1, 2018

Development Retail Texas

Sprouts Farmers Market Nears Completion of 30,000 SF Store in Metro Houston

by Taylor Williams November 1, 2018

SUGAR LAND, TEXAS — Phoenix-based grocer Sprouts Farmers Market is nearing completion of construction of its 30,000-square-foot store in Sugar Land, a southwestern suburb of Houston. The official opening is slated for Jan. 16, 2019. The store, located at 13550 University Blvd., is expected to create approximately 140 new jobs upon opening.

November 1, 2018

Development Multifamily Texas

Transcontinental, Abode Open 451-Unit Apartment Property in Metro Dallas

by Taylor Williams October 31, 2018

ROWLETT, TEXAS — Dallas-based REIT Transcontinental Realty Investors Inc. (NYSE: TCI) and its subsidiary, Abode Properties, have opened Terra Lago Apartments, a 451-unit multifamily community in Rowlett, a northeastern suburb of Dallas. The Class A property features one, two- and three-bedroom units and offers amenities such as a pool, fitness center, business center, conference room and a bocce ball court. The property also fronts Lake Ray Hubbard.

October 31, 2018

Acquisitions Multifamily Texas

29th Street Capital Acquires 368-Unit Multifamily Asset in Houston

by Taylor Williams October 31, 2018

HOUSTON — 29th Street Capital, a privately held investment firm with offices in San Francisco and Chicago, has acquired Cali Sommerall Apartments, a 368-unit multifamily asset located in Houston’s Copperfield/Bear Creek submarket. The company will invest in new countertops and paint for the unit interiors, as well as upgrades to the amenity spaces, which include a pool, coffee bar, dog park, fitness center and a grilling station. The seller was not disclosed.

October 31, 2018

Acquisitions Industrial Texas

Meritex Purchases 121,520 SF Light Industrial Building in Houston

by Taylor Williams October 31, 2018

HOUSTON — The Meritex Co., a Minnesota-based investment firm, has purchased Park 225, a 121,520-square-foot light industrial building located at the interchange of Highway 225 and Beltway 8 in Houston. The property was fully leased to four tenants at the time of sale. Tom Lynch of CBRE brokered the deal. Stream Realty Partners will manage the property. With this acquisition, Meritex now owns more than 500,000 square feet of industrial space in the metro Houston area.

October 31, 2018

Acquisitions Retail Texas

STRIVE Arranges Sale of 55,944 SF Shopping Center in Metro Houston

by Taylor Williams October 31, 2018

NEW CANEY, TEXAS — Dallas-based retail brokerage firm STRIVE has arranged the sale of Brookshire Brothers Shopping Center, a 55,944-square-foot retail asset in New Caney, a northern suburb of Houston. The five-mile radius around the property, which is anchored by a 42,000-square-foot Brookshire Brothers, has seen its population increase by more than 25 percent since 2010. Daniel Wenz of STRIVE represented the Florida-based seller in the transaction and procured the local buyer. Both parties requested anonymity.

October 31, 2018

Loans Multifamily Texas

NXT Capital Provides $25M Acquisition Loan for Apartment Community in Dallas

by Taylor Williams October 31, 2018

DALLAS — Chicago-based NXT Capital has provided a $25 million acquisition loan for a 252-unit apartment community in Dallas. Located one mile north of Interstate 30 and three miles from downtown, the property features a clubhouse, grill area, fitness center, pool, dog park and access to the Santa Fe Trail. Tony Stein of CBRE placed the loan on behalf of an undisclosed borrower. The property name was also undisclosed.

October 31, 2018

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