Texas

Balfour Beatty, Wynne/Jackson Deliver 1,500-Bed Student Housing Project in Dallas

by Taylor Williams August 20, 2018

DALLAS — A joint venture between Balfour Beatty Campus Solutions and Wynne/Jackson has completed the second and final phase of Northside, a 1,500-bed student housing community located near the University of Texas at Dallas. The first phase was completed in 2016 and delivered 600 beds with shared amenities, a parking garage and a variety of restaurants and pubs. The second phase offers 900 beds in studio, one-, two- and three-bedroom floor plans. Shared amenities include a second resort-style swimming pool, a volleyball court, an indoor/outdoor fitness center, individual study rooms, a sky lounge and 7,000 square feet of additional retail space.

August 20, 2018

Industrial Leasing Activity Texas

Conn’s HomePlus Signs 656,658 SF Lease for Houston Distribution Center

by Taylor Williams August 20, 2018

HOUSTON — Home furnishings and appliances retailer Conn’s HomePlus has signed a 656,658-square-foot lease to be the sole occupant of Central Green Distribution Center in north Houston. Liberty Property Trust is the owner of the center, which is situated on 36 acres near George Bush Intercontinental Airport. Building features include 36-foot clear heights, 133 dock doors and a 500-foot building depth. Rob Stillwell and Chris Malherbe of NKF Capital Markets represented Conn’s in the lease negotiations. Conn’s is based in The Woodlands, a master-planned community located north of Houston.

August 20, 2018

Development Industrial Self-Storage Texas

TJO to Develop 1,090-Unit Self-Storage Property in Austin

by Taylor Williams August 20, 2018

AUSTIN, TEXAS — The Jenkins Organization (TJO), a Houston-based developer and manager of self-storage properties, has purchased land in southeast Austin for the development of a 1,090-unit facility. Branded Bergstrom Storage, the Class A property will total 238,000 square feet and provide climate-controlled space, as well as storage space for boats and RVs. The facility, which will be located near the airport, is currently slated to open in November 2019.

August 20, 2018

Jupiter-Miller-Business-Park-Garland-Texas

Industrial Leasing Activity Texas

Window Manufacturer to Open 329,000 SF Industrial Facility in Metro Dallas

by Taylor Williams August 20, 2018

GARLAND, TEXAS — Quest USA Inc., an affiliate of Canadian window producer Quest Window Systems, will open a 329,000-square-foot manufacturing and distribution facility in Garland, a northeastern suburb of Dallas. The facility will be located within Jupiter Miller Business Park, an 800,000-square-foot project at the site of the former Raytheon campus. The move is expected to create more than 320 new jobs. The date by which the facility is expected to be operational was not disclosed.

August 20, 2018

Acquisitions Office Texas

Highland Capital Management Acquires 42-Story Office Building in Dallas

by Taylor Williams August 17, 2018

DALLAS — Highland Capital Management, a Dallas-based alternative investment manager, has acquired Cityplace Tower, a 42-story, 1.3 million-square-foot office building located in the Uptown area of Dallas. The seller was Parmenter Realty Partners. Completed in 1988, the transit-oriented property features 51,000 square feet of meeting space, a fitness center with a spa and proximity to more than 65 retail and dining establishments. Highland plans to upgrade the property’s common areas and introduce new retail space. Creighton Stark, Chris Boyd and Jihane Boury of Colliers International brokered the sale. Avison Young will handle leasing of the property following the change in ownership.

August 17, 2018

Development Industrial Texas

Davis Breaks Ground on 400,400 SF Industrial Development in San Antonio

by Taylor Williams August 17, 2018

SAN ANTONIO — Houston-based Davis Commercial Development has broken ground on Logistics Commerce Center, a 400,400-square-foot industrial development that will be located within Cornerstone Industrial Park in San Antonio. The two-building, Class A property is being developed on a speculative basis. The groundbreaking was held on Thursday and delivery is slated for the first quarter of 2019. The two buildings, which will measure 260,000 and 140,400 square feet, will both feature 32-foot clear heights, ESFR sprinkler systems and ample trailer parking. Rob Burlingame and Josh Aguilar of CBRE represented Davis Commercial in the purchase of the land and will continue to market and lease the property.

August 17, 2018

Industrial Leasing Activity Texas

JLL Negotiates 210,850 SF Industrial Lease Renewal in Houston

by Taylor Williams August 17, 2018

HOUSTON — JLL has negotiated a 210,850-square-foot industrial lease renewal within Railwood Industrial Park in northeast Houston on behalf of Global Stainless Supply, a Houston-based provider of stainless steel pipes, flanges and fittings. The company’s Class A space features 28-foot clear heights, 24 dock-high doors and 8,000 square feet of office space. Ryan Fuselier and Jeff Venghaus of JLL represented the tenant in the lease negotiations. Kelly Landwermeyer of Holt Lunsford Commercial represented the landlord, CenterPoint Properties.

August 17, 2018

Acquisitions Office Texas

Stream Realty Partners Brokers Sale of 165,500 SF Office Building in San Antonio

by Taylor Williams August 17, 2018

SAN ANTONIO — Stream Realty Partners has brokered the sale of One Alamo Center, a 165,500-square-foot office building in downtown San Antonio. The eight-story building offers a conference center and concierge services. Jamie Jennings, James Mantzuranis and Andrew Rabinovich of Stream Realty Partners marketed the property on behalf of a private family office and procured the buyer, Los Angeles-based Entrada Partners. Market experts Ryan Harrison, Garrett Carlson and Kenneth Hartmann of Stream Realty Partners also contributed to the transaction.

August 17, 2018

Acquisitions Industrial Office Texas

NAI Partners Arranges Sale of 6,400 SF Flex Asset in Houston

by Taylor Williams August 17, 2018

HOUSTON — NAI Partners has arranged the sale of a 6,400-square-foot office/warehouse asset situated on 8.9 acres at 8412 Hansen Road in Houston. Clay Pritchett and Zane Carman of NAI Partners represented the seller, Wallis State Bank, which had previously foreclosed on the property. Greg Williams of Qualified Properties represented the buyer, TBarJ Properties LLC.

August 17, 2018

Industrial Market Reports Self-Storage Texas Texas Market Reports

Oversupply, Taxes Choke Self-Storage Growth

by Taylor Williams August 17, 2018

Self-storage properties have had a pretty good run in Texas over the last several years. Surging population growth has brought more material possessions into the state, boosting absorption of existing space. In addition, ample land for development has enabled builders to bring self-storage — a submarket-specific business — to new, underserved communities. The investment side of the business has flourished as well. A capital-rich environment has sustained a healthy pace of development and price escalation has kept cap rates low, incentivizing many owners to market their properties for sale. The building boom is still running hot. According to Tennessee-based research firm STR, as of June 2018, there were more than 300 self-storage facilities in the development pipeline in Texas. In the 12 months leading up to that point, 72 new facilities totaling almost 7 million square feet came on line. In addition, about 130 new properties are slated to open by June 2019, adding more than 9 million square feet, or 5.7 percent of the existing inventory. And those figures only encompass the seven biggest markets in Texas. According to The Houston Chronicle, the Dallas, Houston, Austin and San Antonio markets all feature about 8 square feet of storage space …

August 17, 2018

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