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Collins-Crossing-Richardson
AcquisitionsOfficeTexas

Newmark Arranges Sale of 300,887 SF Office Building in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Newmark has arranged the sale of Collins Crossing, a 300,887-square-foot office building located along North Central Expressway in the northeastern Dallas suburb of Richardson. The 11-story building was constructed in 1999, according to LoopNet Inc. Amenities include a deli, fitness center and a conference center. Gary Carr, Robert Hill and Chris Murphy of Newmark represented the seller, Massachusetts-based Franklin Street Properties Corp., in the transaction. The buyer, a partnership between Goldenrod Cos. and Reserve Capital Partners, purchased the asset for an undisclosed price.  The sale included the building’s parking structure and an adjacent 3.6-acre parcel that can support mixed-use development. Collins Crossing was 85 percent leased at the time of sale.

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Seabrook-Square-Austin
DevelopmentLoansMultifamilyTexas

Partnership Breaks Ground on 204-Unit Affordable Housing Project in East Austin

by Taylor Williams

AUSTIN, TEXAS — A partnership between nonprofit developer The NHP Foundation, Capital A Housing and the Austin Housing Finance Corp. has broken ground on Seabrook Square, a 204-unit affordable housing project in East Austin. Units will be reserved for households earning 60 percent or less of the area median income, and Seabrook Square will also house 3,000 square feet of commercial space. Financing for the project includes a $40 million tax-exempt bond issued by the City of Austin; $32.3 million in 4 percent Low-Income Housing Tax Credit (LIHTC) equity syndicated by Boston Financial; $13.5 million in subordinate debt financing from the Austin Housing Finance Corp.; and a $3.4 million construction loan from Citibank. Completion is slated for late 2025.

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IndustrialLeasing ActivityTexas

CHEP USA Signs 155,000 SF Industrial Lease Renewal in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — CHEP USA, a provider of pallets and containers for a variety of industries, has signed a 155,200-square-foot industrial lease renewal at 5301 Alliance Gateway Freeway in North Fort Worth. The site spans 11.4 acres, and the facility, which was built in 1996, features 26-foot clear heights, 122- to 125-foot truck court depths and parking for 102 cars and 93 trailers. Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the landlord, Brookfield Properties, in the lease negotiations. Greg Lance of Cushman & Wakefield represented the tenant.

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AcquisitionsHospitalityTexas

Partners Real Estate Brokers Sale of 153-Site RV Park in Metro Houston

by Taylor Williams

BAYTOWN, TEXAS — Partners Real Estate has brokered the sale of Lost River RV Park in the eastern Houston suburb of Baytown. Lost River RV Park spans 11 acres and features 153 sites and 47 self-storage units. Landan Dory and Cole Little of Partners represented the seller, an entity doing business as Lost River RV LLC, in the transaction. John Manion and Tiffany Hastiecurry of California-based NAI Capital represented the undisclosed buyer. The sales price was also not disclosed.

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Leasing ActivityRetailTexas

American Girl to Open 14,720 SF Store in Dallas

by Taylor Williams

DALLAS — American Girl will open a 14,720-square-foot store next month at The Shops at Park Lane, a 33.5-acre mixed-use development in the University Park area of Dallas. In addition to a full range of dolls and accessories, the two-level store will feature a full-service café, personal shopping assistants, private party rooms, salon services and a floor-to-ceiling dollhouse exhibit. The opening is scheduled for early March. Northwood Retail owns and operates The Shops at Park Lane.

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Airfield-130-Austin
DevelopmentIndustrialTexas

Patrinely, Realterm Break Ground on 439,000 SF Spec Industrial Project in South Austin

by Taylor Williams

AUSTIN, TEXAS — A partnership between two development and investment firms, Houston-based Patrinely and Annapolis-based Realterm, has broken ground on Airfield 130, a 439,000-square-foot speculative industrial project in Austin. The development will consist of four buildings ranging in size from 75,000 to 150,000 square feet on a 34.5-acre site on the city’s south side. Each building at Airfield 130 will feature 32-foot clear heights and 190-foot truck court depths, and the project will have a total of 129 dock-high doors. Catamount Constructors is the general contractor for the project, which is slated for an early 2025 delivery. KBC Advisors has been appointed as the leasing agent.

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AcquisitionsOfficeTexas

DZMI Acquires 216,889 SF Office Building in North Houston

by Taylor Williams

HOUSTON — Locally based investment firm David Z. Mafrige Interests (DZMI) has acquired World Houston Place, an eight-story office building located at 15710 John F. Kennedy Blvd. on the city’s north side. According to LoopNet Inc., World Houston Place was built in 1985 and totals 216,889 square feet. The seller was not disclosed. The new ownership, which has appointed Stream Realty Partners as the leasing agent, plans to implement a value-add program that includes upgrades of common areas and the addition of a fitness center and tenant lounge.

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HealthcareLeasing ActivityTexas

Houston Methodist Signs 75,800 SF Lease at Texas Medical Center in Houston

by Taylor Williams

HOUSTON — Houston Methodist has signed a 75,800-square-foot lease at Texas Medical Center in Houston. The provider will occupy two floors at the Dynamic One building at TMC Helix Park for various biomedical research initiatives. The building was completed last fall and offers a fitness center, outdoor terrace and a multi-purpose lounge. Scott Carter of CBRE represented Houston Methodist in the lease negotiations. Eric Johnson, Lisa Bovermann and Kaitlyn Harp of Transwestern represented the landlord, Beacon Capital Partners, which developed the building in partnership with Zoë Life Sciences.

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AcquisitionsHealthcareTexas

MedProperties Buys 44,150 SF Medical Office Building in Metro Houston

by Taylor Williams

PEARLAND, TEXAS — Dallas-based healthcare investment firm MedProperties Realty Advisors has purchased a 44,150-square-foot medical office building that is part of the Memorial Hermann Pearland Hospital on the southern outskirts of Houston. The two-story building was completed in 2023 and was fully occupied at the time of sale. Capital One and Siemens Financial Services provided acquisition financing for the deal. The seller was not disclosed.

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AcquisitionsIndustrialTexas

Partners Real Estate Brokers Sale of 10,125 SF Industrial Building in Pharr, Texas

by Taylor Williams

PHARR, TEXAS — Partners Real Estate has brokered the sale of a 10,125-square-foot industrial building in the Rio Grande Valley city of Pharr. The property at 3329 S. Jackson Road was built in 1973, according to LoopNet Inc. Gustavo Torres and Carlos Marquez of Partners represented the seller, Texas-based construction firm Alamo Systems Industries, in the transaction. The buyer and sales price were not disclosed.

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