Texas

Hunt Southwest Inks Two Industrial Leases Totaling 260,176 SF in Fort Worth

by Taylor Williams October 20, 2017

FORT WORTH, TEXAS — Hunt Southwest Real Estate Development has inked two industrial leases totaling 260,176 square feet at Riverbend West Distribution Center in Fort Worth. Ecolab, a Minnesota-based provider of resource technologies and services, has leased 192,350 square feet and PODS, a Florida-based moving and storage company, has leased 67,826 square feet. Located at 2101 Reeves Place near Interstate 820, the 301,500-square-foot facility features 2,167 square feet of office space, 12 dock-high doors and LED warehouse lighting. J.R. Tomlinson of Jackson Cooksey represented Ecolab and Mark DiMarsico of Commercial Realty Associates represented PODS in the lease negotiations. Donnie Rohde and George Jennings of Holt Lunsford Commercial represented Hunt Southwest.

October 20, 2017

MRC to Develop 259-Unit Seniors Housing Project in Fort Worth

by Taylor Williams October 20, 2017

FORT WORTH, TEXAS — Methodist Retirement Communities (MRC), a non-profit seniors living developer operator based in The Woodlands, will develop Stevenson Oaks, a 259-unit seniors housing property that will be situated on 19 acres in Fort Worth. The project will deliver 159 independent living units, 36 assisted living units, 24 memory support suites, 24 rehab suites and 16 skilled nursing suites. Located off Chisholm Trail Parkway at Bryant Irvin and Altamesa boulevards, the property will offer amenities such as a fitness center, auditorium and walking trails. Construction is scheduled to begin in late 2019, with 2021 the target opening date.

October 20, 2017

Retail Texas

Weitzman Negotiates 46,155 SF Retail Anchor Lease in College Station

by Taylor Williams October 20, 2017

COLLEGE STATION, TEXAS — Weitzman has negotiated a 46,155-square-foot tenant lease with Tru Fit Athletic Clubs for the anchor space at Parkway Square, a 156,520-square-foot retail center in College Station. Tru Fit Athletic Clubs will join other tenants at the center such as Stein Mart, Harbor Freight Tools, Firestone and McDonald’s. The Parkway Square gym will be the Colorado-based fitness chain’s 18th location in Texas. James Namken and Kyle Knight of Weitzman represented the landlord in the lease negotiations and CBRE represented Tru Fit.

October 20, 2017

Healthcare Market Reports Texas Texas Market Reports

Options Abound as El Paso Healthcare Real Estate Market Expands

by Taylor Williams October 20, 2017

Healthcare facilities have become a mainstream investment asset class for private and institutional investors over the last decade. Healthcare assets with strong credit tenancy and on-campus locations are now fetching record pricing. Pressure from consumers, federal and state legislation and fiscal responsibility are driving changes in the delivery of healthcare services. Significant consolidation is occurring in the form of acquisitions and affiliations. The most visible and tangible change to the consumer has been the proliferation of urgent care facilities. Other drivers of healthcare facility construction include hospital operators pushing for their brands and facilities to be more convenient to the consumer. Increased focus on preventative care and consumers’ desire for quick and convenient access to services near work or home plays a role as well. These trends are relevant and visible in the 2017 El Paso healthcare market. Population Growth Leads Historically, El Paso ranks among the nation’s fastest-growing metropolitan areas, averaging decade-over-decade growth of 21 percent from 1960 to 2010. The MSA, composed of El Paso County and the more recently added Hudspeth County, is projected to hit nearly 883,000 residents by 2019. In 2014, when El Paso data was combined with data from sister city Ciudad Juárez and …

October 20, 2017

Mixed-Use Texas

Hoque Global, KDC to Develop 20-Acre Mixed-Use Project in Downtown Dallas

by Taylor Williams October 19, 2017

DALLAS — Hoque Global and KDC will develop Dallas Smart District, a 20-acre mixed-use property that will be located adjacent to Dallas City Hall in downtown Dallas. Phase I of the project will deliver between 600,000 and 1 million square feet of Class A office space, a location for an undetermined grocery tenant, a food hall, boutique hotel with residences and parks and green spaces with bike paths and recreational areas. Hoque Global is directing the retail, residential and hospitality elements of the project, and KDC is developing the office component. Pelli Parke Pelli Architects is designing the property. Work on the project is expected to begin in late 2018.

October 19, 2017

Multifamily Oklahoma Texas

Knightvest Management Acquires 682-Unit Multifamily Community in Tulsa

by Taylor Williams October 19, 2017

TULSA, OKLA. — Knightvest Management, a Dallas-based multifamily investment and management firm, has acquired Waterside, a 682-unit apartment community located at 1703 S. Jackson Ave. W in Tulsa. The property includes a combination of one- and two-bedroom units and amenities such as a fitness center, business center, resort-style pool and convenient access to nearby jogging and biking trails. The company is planning a multimillion-dollar renovation to the property’s interior and exterior. The seller and sales price were not disclosed.

October 19, 2017

Loans Retail Texas

JLL Secures $21.3M Refinancing for 94,841 SF Retail Asset in Lubbock

by Taylor Williams October 19, 2017

LUBBOCK, TEXAS — JLL has secured $21.3 million for the refinancing of Phase II of West End, a 94,841-square-foot retail and restaurant development in Lubbock. West End features a mix of big box retailers, flagship hotels and office space. Retail tenants include Cabela’s Outpost, Nike Factory and Marshalls. Dining options include P.F. Chang’s, Chipotle, Chick-fil-A and Panera Bread. Tom Fish and Jimmy Board of JLL secured the loan through New York-based Silverpeak Argentic on behalf of GRACO Real Estate Development Inc.

October 19, 2017

Retail Texas

Momentum Indoor Climbing to Open 43,000 SF Gym in Houston

by Taylor Williams October 19, 2017

HOUSTON — Momentum Indoor Climbing, a Utah-based developer of indoor climbing gyms, will open a 43,000-square-foot facility at 2000 Edwards St. in Houston’s Washington Avenue Arts District. The grand opening is currently scheduled for Nov. 18. The gym will also offer an enclosed cardio room, yoga studio, children’s climbing areas and a social lounge. Ben Brown of retail brokerage firm Baker Katz represented the company in its lease negotiations for the new location, as well as for its preexisting facility in Katy.

October 19, 2017

Multifamily Texas

HSM Arranges Sale of 68-Unit Apartment Community in Metro Dallas

by Taylor Williams October 19, 2017

GARLAND, TEXAS — Henry S. Miller Brokerage Co. (HSM) has arranged the sale of The Hickory Apartments, a 68-unit multifamily community located at 320 S. Jupiter Road in the Dallas metro of Garland. Mark Porterfield and Robert Henry of HSM represented the seller, JMY Investments, in the transaction. Dallas-based Blackwood Investments purchased the asset for an undisclosed price. The Hickory Apartments was built in 1963 and will be renovated over the next year.

October 19, 2017

Retail Texas

IKEA to Open 290,000 SF Store in Grand Prairie on Dec. 13

by Taylor Williams October 18, 2017

GRAND PRAIRIE, TEXAS — Swedish furniture retailer IKEA will open its 290,000-square-foot store located in Grand Prairie on Wednesday, Dec. 13. The Grand Prairie location will be IKEA’s fourth in Texas, with plans to open stores in the San Antonio and Fort Worth areas in 2019 underway. Construction of the store created about 500 jobs, and approximately 250 coworkers will have joined the IKEA workforce by the time the store opens.

October 18, 2017

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