FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated a 54,552-square-foot industrial lease in the Blue Mound/Saginaw area of Fort Worth. Blake Rogers of JLL represented the tenant, Strato Inc., a manufacturer of various industrial parts, in the lease negotiations. George Jennings, Trey Goodspeed and William Wilson of Holt Lunsford Commercial represented the landlord, Blue Ridge Industrial.
DALLAS — Fort Worth-based brokerage firm LanCarte Commercial has arranged the sale of a 50,138-square-foot industrial property located at 11126 Shady Trail Parkway in northwest Dallas. The property consists of three buildings that house 18 units on a 2.9-acre site. Sarah LanCarte of LanCarte Commercial represented the undisclosed seller, which acquired the property in 2020 and implemented a value-add program, in the transaction. The buyer and sales price were also not disclosed.
HOUSTON — Accounting firm Mohle Adams has signed a 15,029-square-foot office lease at 3900 Essex Lane in Houston’s Greenway Plaza district. The 12-story, 235,620-square-foot building offers an onsite bank, fitness center and conference facilities, and the lobby and corridors were recently upgraded. Ryan Hartsell of Oxford Partners represented Mohle Adams in the lease negotiations. Robert LaCoure and Bryce Adams of Lee & Associates represented the landlord, Florida-based Accesso.
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Improved Land Surveys, Due Diligence Can Ensure Development Project Success
Due diligence — particularly land surveying — can be a slow, cumbersome process if a project lacks strong guidelines based on the owner or developer’s particular needs. It can be easy to overprepare for the wrong site or underprepare for the succession of steps needed for the right site. REBusiness spoke to two land surveying experts, Billy Logsdon, divisional director of surveying, and Tom Teabo, associate and regional survey manager. Both work for Bohler, a land development consulting and site design firm, and both have strong insights on how to incorporate each step in the due diligence process elegantly within a well-planned approach. Due diligence such as American Land Title Association (ALTA) surveys and gathering topographic information can be time-consuming and expensive steps — making it beneficial to fit their timing into the larger project in a way that reflects the client’s needs — from the purchase of land to development completion. Logsdon and Teabo highlight the importance of streamlining the survey process and getting owners and developers better results based on their desired outcomes, often starting with the information already available about the site early in the process. REBusiness: What is slowing down survey due diligence, in your experience, and do …
ROCKDALE, TEXAS — Dallas-based developer Xebec will build a 3,300-acre manufacturing and logistics campus in Rockdale, located about 60 miles northeast of Austin. The rail-served site is known locally as Sandow Lakes Ranch and was previously used for aluminum smelting, lignite coal mining and coal power generation. The campus, which will ultimately feature between 30 million and 50 million square feet of manufacturing and logistics space, represents the first phase of multi-stage development that will include workforce housing, solar farms, retail, commercial, industrial and hospitality uses, as well as recreational facilities. Xebec expects to the development to be ready for occupancy by mid-2025.
BURLESON, TEXAS — Locally based developer Realty Capital Residential has begun leasing Depot on Main, a 275-unit multifamily project in Burleson, located south of Fort Worth. The five-story building is situated adjacent to the Old Town district. Depot on Main offers one- and two-bedroom units ranging in size from 590 to 1,229 square feet. Amenities include a pool with a tanning deck, coworking lounge, coffee bar, rooftop deck and entertainment terrace, dog park, fitness center and outdoor grilling and dining areas. Rents start at $1,365 per month for a one-bedroom apartment.
DALLAS — Dallas-based investment firm Bridgeview has acquired The Dunhill, a 214-unit apartment complex in the Dallas Design District. Built in 2010, The Dunhill features studio, one- and two-bedroom units that range in size from 665 to 1,671 square feet. Amenities include a pool, resident clubhouse, fitness center, business center, outdoor picnic areas, amphitheater and a dog park. Bridgeview, which acquired the property via a Delaware Statutory Trust, plans to implement a value-add program and rebrand the property as The Adelphi. The seller was not disclosed.
KILLEEN, TEXAS — Colliers Mortgage has provided a Fannie Mae loan of an undisclosed amount for the refinancing of Hillcrest Apartments, a 60-unit multifamily property located in the Central Texas city of Killeen. The market-rate property was built in 1974 and houses one- and two-bedroom units. Fritz Waldvogel of Colliers Mortgage originated the seven-year, interest-only loan through a partnership with Old Capital Lending. The borrower was not disclosed.
RICHARDSON, TEXAS — Talley Riggins Construction Group has expanded its headquarters facility at Campbell Creative Center, a 96,991-square-foot industrial flex property located in the northeastern Dallas suburb of Richardson. The general contractor now occupies 13,858 square feet after signing a co-terminus lease for 3,832 square feet of contiguous space. Jared Laake and Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Kennington Campbell LLC, in the lease negotiations. Chris Wright of JLL represented Talley Riggins.
FORT WORTH, TEXAS — San Diego-based investment firm Westcore has acquired Railhead Business Station, a four-building, 519,905-square-foot industrial property in North Fort Worth. The property, which was built in phases between 2000 and 2007 within the 366-acre Railhead Industrial Park, was fully leased to 11 tenants at the time of sale. Seth Koschak, Matteson Hamilton, Forrest Cook, Jeff Rein, Lee Belland III, Trey Mahla and Haili Rumsey of Stream Realty Partners represented the undisclosed seller in the transaction. Westcore was self-represented. The sales price was not disclosed.