Texas

Wood Partners Opens 361-Unit Apartment Community in Fort Worth

by Taylor Williams October 24, 2018

FORT WORTH, TEXAS — Multifamily investment and development firm Wood Partners has opened Alta Waterside, a 361-unit multifamily community in Fort Worth. The property, which features one-, two- and three-bedroom units, is located within a larger mixed-use development called Waterside, which is anchored by a Whole Foods Market and features an array of retailers. Alta Waterside’s amenities include a pool, kitchen-style bar, clubhouse, conference room, cyber lounge, fitness center and hiking trails.

October 24, 2018

Industrial Leasing Activity Texas

Logistics Firm Signs 87,726 SF Industrial Lease in El Paso

by Taylor Williams October 24, 2018

EL PASO, TEXAS — Pilot Freight Services, a transportation and logistics firm, has signed an 87,726-square-foot industrial lease at 445 Pan American Drive in El Paso. The company will occupy 100 percent of the property, which represents the first speculative industrial space built in El Paso during this cycle. Arturo de La Mora and Christian Perez Giese of CBRE represented the landlord and developer, Hanson Asset Management LP, in the lease negotiations. Chad McCleskey of CBRE represented the tenant.

October 24, 2018

Acquisitions Industrial Texas

TIG Negotiates Sale of 35,478 SF Industrial Building in Dallas

by Taylor Williams October 24, 2018

DALLAS — TIG Real Estate Services has negotiated the sale of a 35,478-square-foot industrial building located at 9886 Chartwell Drive in Dallas. Matthew Hickey and Kristin Grammar of TIG represented the seller in the transaction. Beam Real Estate represented the buyer. Other terms of sale were not disclosed.

October 24, 2018

Acquisitions Retail Texas

Davis Commercial Brokers Sale of 12,500 SF Shopping Center in Houston

by Taylor Williams October 24, 2018

HOUSTON — Davis Commercial has brokered the sale of a 12,500-square-foot shopping center located at 10824 Kingspoint Road in Houston. The property was 100 percent occupied at the time of sale. Ryan Neyland of Davis Commercial represented the seller, Chimera Holdings LLC, in the transaction. The buyer was JTL Logistics Inc.

October 24, 2018

Acquisitions Industrial Self-Storage Texas

Cushman & Wakefield, JLL Arrange Sale of 797-Unit Self-Storage Facility in Houston

by Taylor Williams October 23, 2018

HOUSTON — A partnership between Cushman & Wakefield and JLL has arranged the sale of a 797-unit self-storage facility located at 5321 Richmond Ave. in the Galleria-Uptown area of Houston. The property was sold in conjunction with an 849-unit facility in Los Angeles. The two properties feature more than 158,000 square feet. Greg Wells of Cushman & Wakefield and Steve Mellon of JLL represented the seller, California-based Cardiff Mason Development, in the transaction. The buyer was an undisclosed, national owner/operator.

October 23, 2018

Jefferson-River-East-Fort-WorthJefferson-River-East-Fort-Worth

Development Multifamily Texas

JPI to Develop 400-Unit Apartment Community in Fort Worth

by Taylor Williams October 23, 2018

FORT WORTH, TEXAS — Irving-based JPI will develop Jefferson River East, a 400-unit multifamily community that will be located adjacent to the Trinity River near downtown Fort Worth. Amenities will include two pools, two clubhouses, two sky lounges, a fitness center and a yoga studio. Fifth Third Bank is the senior lender on the project and CrossHarbor Capital Partners is providing preferred equity. JPI broke ground on the property on Oct. 19. The first units are expected to be available for occupancy by spring 2020.

October 23, 2018

Acquisitions Office Texas

Pillar, Artemis Acquire 130,371 SF Office Building in Plano

by Taylor Williams October 23, 2018

PLANO, TEXAS — A partnership between Dallas-based Pillar Commercial and investment firm Artemis Real Estate Partners has acquired Lincoln Legacy II, a 130,371-square-foot office building in Plano. The property is located near the intersection of the Dallas North Tollway and Tennyson Parkway and offers amenities such as a fitness center, tenant lounge and conference facilities. Curtis Jaggers of JLL secured acquisition financing through MetLife Inc. for the deal.

October 23, 2018

Acquisitions Hospitality Texas

HFF Negotiates Sale of 198-Room Hotel in Dallas

by Taylor Williams October 23, 2018

DALLAS — HFF has negotiated the sale of The Highland Dallas Curio, a 198-room hotel in Dallas. The property has undergone $6.2 million in renovations since 2014 and currently features a pool, fitness center, salon and 1,400 square feet of meeting space. John Bourret and Austin Brooks of HFF represented the undisclosed seller in the transaction. Pete Fehlman of HFF arranged acquisition financing for the sale on behalf of the buyer, St. Louis-based Lennox Capital Partners. The hotel is located at 5300 E. Mockingbird Lane near Southern Methodist University.

October 23, 2018

Leasing Activity Office Texas

MetroPCS Renews 115,583 SF Office Lease in Metro Dallas

by Taylor Williams October 23, 2018

RICHARDSON, TEXAS — MetroPCS Communications Inc. has renewed its 115,583-square-foot office lease at Lakeside Centre II, an office property located at 2250 Lakeside Blvd. in the northeastern Dallas metro of Richardson. Tim Terrell and Chase Lopez of Stream Realty Partners represented the landlord, Vereit, in the lease negotiations. CBRE represented the tenant.

October 23, 2018

Texas

Texas Unemployment Rate Falls to 3.8 Percent, Lowest in Four Decades

by Taylor Williams October 22, 2018

AUSTIN, TEXAS — The unemployment rate in Texas has fallen to 3.8 percent, its lowest mark in four decades, according to a report from the Texas Workforce Commission (TWC). The latest data shows a decline of 10 basis points in the unemployment rate from August to September, as well as 15,600 nonfarm jobs added in September. The Texas economy has now experienced 27 consecutive months of job growth and 3.3 percent employment growth year-to date . In Texas’ service providing sector, financial activities added 5,800 positions over the month, and led all industries in job growth for September. Also within this sector, professional and business services added 2,500 jobs, followed by trade, transportation and utilities, which added 2,100.

October 22, 2018

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