DALLAS — Gather Kitchen, a fast casual restaurant specializing in locally sourced items, has opened its flagship location at Thanksgiving Tower in downtown Dallas. The 2,400-square-foot restaurant will feature a bakery, outdoor seating area and floor-to-ceiling windows with views of the CBD. Greg Pierce and Ryan May of CBRE represented Gather Kitchen in the lease negotiations. Jack Gosnell and Amy MacLaren, also of CBRE, represented the landlord, Woods Capital Management.
LEWISVILLE, TEXAS — Retail brokerage firm Venture Commercial has arranged the sale of a 4,600-square-foot retail center located at 5020 State Highway 121 in the Dallas metro of Lewisville. The property is adjacent to Grandscape, a 433-acre development owned by Berkshire Hathaway and anchored by Nebraska Furniture Mart. John Zikos, Jonathan Cooper and Don Miller of Venture Commercial represented the seller, NDC Holdings, in the transaction. Austin-based management firm Mutyala Properties purchased the asset for an undisclosed price.
Long-time El Paso residents frequently hear people talking about the good things happening in our city. To be sure, El Paso is an enigma and a contradiction — a big small town with its own identity. Cultural, economic, social and ethnic differences are comfortably accommodated in a “mi casa es tu casa” openness. Contrary to our “wild west” reputation, El Paso ranks as one of America’s safest cities by size. The closest major city to El Paso is Ciudad Juarez, a city of 1.5 million people just across the Rio Grande River in the Mexican state of Chihuahua. The economies of the two cities are inextricably linked and create a major trade area on the southern U.S. border with Mexico. Roughly 30 percent of El Paso’s retail sales come from Mexican shoppers who also access educational institutions, medical services and professional services on the U.S. side. American and multinational manufacturers employ more than 200,000 people in Juarez and rely on El Paso’s transportation and trade infrastructure. The expansion of both trade and interdiction at the border has generated thousands of new federal agency jobs paying wages above the city’s median incomes. Apartment development and ownership in El Paso are dominated …
FORT WORTH, TEXAS — Greystar will develop Elan at River District, a 341-unit multifamily community that will be located roughly 10 minutes from downtown Fort Worth. Designed by Houston-based Meeks + Partners, the project will consist of 325 apartment units ranging in size from 491 to 1,268 square feet and 16 townhome units that measure up to 2,031 square feet. Amenities will include a lounge/game room, fitness wing, pool area with an outdoor kitchen and a media room. Construction is expected to be complete by the first quarter of 2018.
PLANO, TEXAS — Dougherty Mortgage has closed a $34.3 million Fannie Mae loan for the acquisition of The Domaine Apartment Homes, a 270-unit multifamily community located at 6400 Windcrest Drive in Plano. Dougherty arranged the 10-year loan, which features five years of interest-only payments and a 30-year amortization schedule, on behalf of the borrower, Domaine Apartments LLC.
BEAUMONT, TEXAS — Transwestern has brokered the sale of Pindo Pointe, a 164-unit multifamily asset located at 7390 Pindo Circle in the East Texas city of Beaumont. Ed Cummins and Ryan Mendez of Transwestern represented the landlord, Parkdale Pinto LLC, in the transaction. Ohio-based Winslow Asset Management purchased the property for an undisclosed price.
HOUSTON — NAI Partners has secured a 31,792-square-foot office lease at 15990 N. Barkers Landing Road in Houston on behalf of 2H Offshore, a Houston-based engineering firm. Jon Silberman of NAI Partners represented the tenant in the lease negotiations. Michelle Wogan and Monte Calvert of Transwestern represented the landlord, Banyan Street/GAP Timberway One Owner LLC.
BURLESON, TEXAS — Orangetheory Fitness will open a 4,050-square-foot location at Burleson Commons, a grocery-anchored shopping center in the southern Fort Worth metro of Burleson. Owned by Cullinan Properties, the center is located at 1561 Wilshire St. This gym will be the company’s sixth location in the Burleson area and its 25th overall in the Dallas-Fort Worth (DFW) area. The opening is currently scheduled for mid-December.
PASADENA, TEXAS — Marcus & Millichap has brokered the sale of two multifamily properties totaling 980 units in the Houston metro of Pasadena. The 514-unit Alta Vista and the 468-unit Las Villas are both located near Port Houston, with access to State Highway 225, the Sam Houston Tollway and Interstate 45. Both properties were built in 1970 and renovated between 2012 and 2015. Jeffrey Fript and Christian Mazzini of Marcus & Millichap represented the seller, Empire Square Group, a New York-based private equity firm, in the transaction. Fript procured the buyer, an undisclosed multifamily operator based in Houston.
SAN ANTONIO — Online commercial real estate firm ArborCrowd has offered investors an opportunity to own equity interests in Quarry Station Apartments, a 306-unit multifamily community in San Antonio’s Alamo Heights neighborhood. The total capitalization of the deal is $40.8 million, with ArborCrowd raising $3.2 million in equity and projecting a return of 16 to 19 percent across a two- to four-year hold period. As part of the deal, the current owner will invest in upgrades to the property’s interiors and exteriors. ArborCrowd is a crowdfunding real estate investment organization that is part of the Arbor family of companies, including Arbor Realty Trust, Arbor Commercial Mortgage and AMAC.
