Texas

JaRyCo Breaks Ground on 94,000 SF Tech Center in Metro Dallas

by Haisten Willis February 19, 2016

ALLEN, TEXAS — Development firm JaRyCo has begun construction on Tech Center One, Phase I of an office/warehouse complex at Greenville Avenue and Bethany Drive in Allen. Completion of the 38,000-square-foot office/warehouse hybrid building is expected in August. Two additional building phases are planned for a total of 94,000 square feet. A groundbreaking ceremony for the project is set for Feb. 25. at 2 p.m. This will be the 10th project in Allen for JaRyCo in the last 15 years. George Tanghongs and Brett Lewis of Lee & Associates’ Dallas/Fort Worth office are marketing the property.

February 19, 2016

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Restaurant Retail Texas

Good Union Urban BBQ Opens First Location at CityLine in Richardson

by Haisten Willis February 19, 2016

RICHARDSON, TEXAS — Good Union Urban BBQ has opened its first location at CityLine, a 186-acre mixed-use project located in the Dallas suburb of Richardson. The restaurant is located on the street level of One CityLine at 1150 State Street, and serves Texas barbecue favorites like USDA prime brisket, pork, sausage, ham, turkey and ribs. Patio seating is available facing the central plaza of the development, allowing guests to enjoy live music and events planned by CityLine. Other recent openings at the development include Nestle Toll House Café by Chip, Top Pot Doughnuts & Coffee, Red Mango, Starbucks Coffee and Tom+Chee. Whole Foods Market, Bite City Grill, Coal Vines, Edoko Sushi and Robata, Fernando’s, Jasper’s and Tricky Fish are scheduled to open at the CityLine later this year.

February 19, 2016

Multifamily Texas

Greysteel Arranges Sale of Rock Island Apartments in Irving

by Haisten Willis February 19, 2016

IRVING, TEXAS — Greysteel, a real estate investment services firm with offices in Dallas and Fort Worth, has arranged the sale of Rock Island Apartments in Irving. Greysteel’s multifamily investment sales team, led by Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill, served as advisor to Progressive Island LLC in the sale of Rock Island Apartments to Katz Rock Island LLC. The property is an 11-building community totaling 154 units. Rock Island Apartments features a barbecue area, swimming pool, on-site laundry, private balconies and patios and 316 surface parking spaces.

February 19, 2016

Multifamily Texas

Castle Lanterra Purchases 350-Unit Apartment Community in Austin

by Haisten Willis February 18, 2016

AUSTIN, TEXAS — Castle Lanterra Properties (CLP) has acquired Villas Tech Ridge, a 350-unit apartment community in Austin. CLP’s managing director Austin Alexander has relocated to Austin to oversee the company’s operations in the market. Villas Tech Ridge is located just off I-35 and offers a mix of one-, two- and three-bedroom units. Built in 2008, the property was developed as part of the Austin Energy Green Builder Program, an environmentally driven program that requires special consideration for “green” and energy-saving opportunities. Units include open floor plans with nine-foot or vaulted ceilings along with granite countertops, mahogany cabinets, ceramic tile and vinyl plank flooring. The property features a pool with cabana, clubhouse, fitness center and pet park.

February 18, 2016

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Multifamily Texas

CBRE Brokers Sale of 297-Unit Multifamily Community in Metro Dallas

by Haisten Willis February 18, 2016

GRAND PRAIRIE, TEXAS — CBRE Capital Markets has brokered the sale of Terraces on the Parkway, a 297-unit multifamily community in the Dallas suburb of Grand Prairie. EB Real Estate Group purchased the asset from Terraces on the Parkway LP for an undisclosed price. Chris Deuillet and Nita Stewart of CBRE’s Dallas office represented the seller. The 263,555-square-foot asset, located at 1109 N. Carrier Parkway, was built in 1972. The complex includes 20 two-story residential buildings and offers efficiency, one-, two- and three-bedroom options. The community was 97 percent occupied at closing. Tenants have access to two pools with outdoor kitchens, a fitness center, updated resident center, dog park and soccer field. Interiors include black-on-black appliances, faux-wood flooring, faux granite countertops, glass tile kitchen backsplashes and two-inch blinds. Monument Real Estate Services will manage the property.

February 18, 2016

Loans Multifamily Texas

Dougherty Mortgage Closes $3.5M Loan for Carpenters Cove Apartments in Dallas

by Haisten Willis February 18, 2016

DALLAS — Dougherty Mortgage LLC has closed a $3.5 million Fannie Mae loan for the refinancing of Carpenters Cove Apartments, a 164-unit, market-rate multifamily apartment property located in Dallas. Property amenities include laundry facilities and a children’s playground. Dougherty’s Vienna, Va., office arranged the 10-year loan with a 30-year amortization schedule on behalf of the borrower, Dallas Carpenters Cover Apartments Ltd.

February 18, 2016

Retail Texas

Bright Realty Sells Two Acres in Metro Dallas

by Haisten Willis February 18, 2016

LEWISVILLE, TEXAS — Bright Realty has sold a two-acre pad site in the Castle Hills area just off State Highway 121 in Lewisville. The pad site is located at the southeast corner of Josey Lane and Windhaven Parkway. The corner will be anchored by an ALDI grocery store and is adjacent to Nebraska Furniture Mart and The Realm, a planned 1.5 million-square-foot mixed-use Bright Realty development. An unnamed buyer purchased the pad site. Bright Realty was self-represented in the sale by Tim McNutt and Britton Lankford.

February 18, 2016

Healthcare Office Retail Texas

Texas Health Surgery Center Renews Medical Office Lease in Dallas

by Haisten Willis February 18, 2016

DALLAS — Texas Health Surgery Center has renewed its lease of 8,285 square feet and expanded to another 5,546 square feet at Preston Plaza in Dallas. An affiliate of Caddo Holdings LLC owns Preston Plaza, a retail center. Kyle Jacobs of Rubicon Representation LLC represented the tenant. Heather Shover and Sean Dalton at Younger Partners represented the landlord.

February 18, 2016

Industrial Texas

Sealy & Co. Acquires Northwest Point Business Park in Houston

by Haisten Willis February 17, 2016

HOUSTON — Sealy & Co. has acquired Northwest Point Business Park, a 232,307-square-foot light industrial portfolio located on Brittmoore Road in northwest Houston. The acquisition was made through the company’s investment offering Sealy Strategic Equity Partners (SSEP). The park consists of four industrial buildings located at the intersection of Highway 290 and Beltway 8. Northwest Point is 100 percent leased to 10 tenants including manufacturing, distribution and food processing companies. The average tenant has occupied the space for more than three years. The suites range from 4,695 to 76,880 square feet.

February 17, 2016

Office Texas

LandPark Arranges Acquisition of Two Office Buildings in Houston

by Haisten Willis February 17, 2016

HOUSTON — Peter Wall and Bill McGrath of LandPark Advisors have represented Stone Mountain Properties in the acquisition of two multi-tenant office buildings in Houston. The two buildings are located in the Westchase District and total 154,704 square feet of rentable area. The new buildings, located at 2424 and 2500 Wilcrest Drive, are situated near the northwest corner of Wilcrest Drive and Westheimer Road. LandPark Advisors is the parent company to LandPark Commercial, which was hired to provide both property management and leasing services on behalf of Stone Mountain Properties.

February 17, 2016

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