Texas

Greysteel Closes Sale of 814-Unit Multifamily Portfolio in Dallas

by Taylor Williams October 23, 2017

DALLAS — Greysteel has closed the sale of a portfolio of two multifamily properties totaling 814 units in Dallas. The 656-unit Forest Cove Apartments was built in 1981 and offers one- and two-bedroom units, as well as amenities such as a pool, tennis court and on-site laundry facilities. The 158-unit North Creek was built in 1970 and offers one- and two-bedroom units in addition to amenities such as a pool, laundry facilities and covered parking. Both properties are located just north of Interstate 635 and east of Highway 75 in northeast Dallas. Doug Banerjee, Boyan Radic, Andrew Mueller and Andrew Hanson of Greysteel negotiated the sale, other terms of which were not disclosed.

October 23, 2017

Oaxaca Interests to Convert West Dallas Warehouse into 10,000 SF Retail, Restaurant Property

by Taylor Williams October 23, 2017

DALLAS — Dallas-based development and asset management firm Oaxaca Interests will redevelop a warehouse located at 660 Fort Worth Ave. in west Dallas into a 10,000-square-foot retail and restaurant property. The warehouse property, which was previously occupied by W&B Refrigeration Service Co., is situated on one acre next to the Sylvan/Thirty mixed-use development. Oaxaca is targeting two to five tenants for the project, construction of which is scheduled to begin before the end of 2017 and wrap up in fall 2018.

October 23, 2017

Multifamily Texas

IPA Brokers Sale of 288-Unit Apartment Community in Rio Grande Valley

by Taylor Williams October 23, 2017

HARLINGEN, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Vantage at Harlingen, a 288-unit multifamily community located at 902 S. Palm Court Drive in the Rio Grande Valley city of Harlingen. Will Balthrope, Jordan Featherston and Joey Tumminello of IPA represented the undisclosed seller and procured the buyer, Presidium. The three-story property was built in 2015 and offers amenities such as a pool, fitness and business centers, a picnic area and an Internet café with a Starbucks.

October 23, 2017

Loans Multifamily Texas

LMI Capital Arranges $18.9M Green Loan for Apartment Community in Houston

by Taylor Williams October 23, 2017

HOUSTON — LMI Capital has arranged $18.9 million in green financing for a 370-unit apartment community located in the Woodlake/Briar Meadow area of Houston. Jamie Mullin of LMI Capital arranged the loan, which features a 4.3 percent interest rate and four years of interest-only payments. The undisclosed borrower will use proceeds from the loan for cash-out purposes.

October 23, 2017

Industrial Texas

NAI Partners Secures 31,688 SF Industrial Lease in Houston

by Taylor Williams October 23, 2017

HOUSTON — NAI Partners has secured a 31,688-square-foot industrial lease at 401-421 W. Crosstimbers St. in Houston on behalf of Houston Installation Services Inc., a furniture installation and relocation services firm. Jake Wilkinson of NAI represented the tenant in the negotiations. The duration of the lease, landlord and representative of the landlord were not disclosed.

October 23, 2017

Industrial Texas

Pontikes to Develop 3 MSF Distribution Center in Greater Houston

by Taylor Williams October 20, 2017

BAYTOWN, TEXAS — Houston-based Pontikes Development plans to build Port 10 Logistics Center, a 3 million-square-foot, Class A distribution center that will be situated on 246 acres at the corner of Thompson Road and Interstate 10 in the Houston metro of Baytown. The rail-served property will feature 32- and 36-foot clear heights and on-site rail and trailer storage. The first phase of the project, which is currently slated for a third-quarter 2018 completion, will deliver two cross-dock buildings measuring 485,000 and 295,000 square feet. JLL will handle leasing of the property.

October 20, 2017

Hospitality Texas

Drury Development to Build 268-Room Hotel in Arlington

by Taylor Williams October 20, 2017

ARLINGTON, TEXAS — Drury Development Corp. a subsidiary of Missouri-based hospitality owner-operator Drury Hotels Co., will build Drury Plaza Hotel, a 268-room property that will be situated on 9.2 acres at the intersection of Center Street and Interstate 30 in Arlington. The project will also deliver an upscale restaurant to the site, which is located west of the Lincoln Square retail center. Larry Jordan and Steve Williamson of Transwestern represented the seller in the disposition of the land. A timeline for construction has not yet been established.

October 20, 2017

Industrial 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

Multifamily Seniors Housing Texas

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

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