Texas

Avera Cos. Breaks Ground on 484,424 SF Industrial Facility in Metro Houston

by Taylor Williams June 23, 2023

BAYTOWN, TEXAS — Locally based developer Avera Cos. has broken ground on Kilgore Grand Parkway, a 484,424-square-foot industrial facility in the eastern Houston suburb of Baytown. The cross-dock facility will be situated on a 33.9-acre site and will feature 40-foot clear heights, 185-foot truck court depths, 107 dock-high doors, an ESFR sprinkler system and ample car and trailer parking space. Avera is developing the project in partnership with AEW Capital Management. Delivery is slated for the second quarter of next year. Cushman & Wakefield is marketing the property for lease.

June 23, 2023

Development Multifamily Texas

Hillwood Multifamily Begins Leasing 301-Unit Community in North Fort Worth

by Taylor Williams June 23, 2023

FORT WORTH, TEXAS — Hillwood Multifamily has begun leasing Paloma Village, a 301-unit apartment community located within the 900-acre Alliance Town Center mixed-use development in North Fort Worth. Designed by JHP Architecture and financed by Frost Bank, Paloma Village consists of 13 buildings that house studio, one-, two- and three-bedroom units. Residences range in size from 556 to 1,972 square feet and offer private balconies/patios. Amenities include a pool, fitness center and a pet park. Rents start at $1,290 per month for a studio apartment.

June 23, 2023

Build-to-Rent Development Loans Single-Family Rental Texas

MMCC Arranges $12.5M in Equity Financing for Residential Project in San Marcos, Texas

by Taylor Williams June 23, 2023

SAN MARCOS, TEXAS — Marcus & Millichap Capital Corp. has arranged $12.5 million in joint venture equity financing for a residential project in San Marcos, located roughly midway between Austin and San Antonio. The development will consist of 210 for-rent, freestanding “micro homes” of modular construction. Homes will come in one- and two-bedroom formats and range in size from 400 to 1,100 square feet. Construction is expected to last about 21 months. Duke Dennis of Marcus & Millichap Capital Corp. arranged the equity financing and partnership on behalf of the lead developer, Casata.

June 23, 2023

Leasing Activity Office Texas

Law Firm Signs 61,875 SF Office Lease in Uptown Houston

by Taylor Williams June 23, 2023

HOUSTON — Law firm Thompson, Coe, Cousins & Irons LLP has signed a 61,875-square-foot office lease at 5POP, a 28-story, 566,773-square-foot building in Houston’s Uptown neighborhood. The building was constructed in 1982 and is currently undergoing a $12 million capital improvement program. Transwestern represented the landlord, a partnership between national investment firm CP Group and Miami-based Rialto Capital that acquired the asset in 2021, in the lease negotiations. Kevin Saxe, Kevin Kushner and Harlan Davis of CBRE represented the tenant, which will occupy three full floors.

June 23, 2023

Acquisitions Multifamily Seniors Housing Texas

Blueprint Negotiates Sale of Seniors Housing Community in Dallas

by Taylor Williams June 23, 2023

DALLAS — Investment sales brokerage firm Blueprint Healthcare Real Estate Advisors has negotiated the sale of an unnamed seniors housing community in Dallas. Built in 1996 and renovated in 2020, the facility offers assisted living and memory care services. The undisclosed buyer plans to convert the property into a behavioral health facility. The seller was also not disclosed.

June 23, 2023

Development Multifamily Texas

Empira Group to Develop 375-Unit Multifamily Project Near Dallas Arts District

by Taylor Williams June 22, 2023

DALLAS — Swiss developer Empira Group has acquired a 1.1-acre site at 711 N. Pearl St. near the Dallas Arts District for the development of a 375-unit multifamily project. Designed by GFF Architects, the building will rise 37 stories and house a 3,700-square-foot restaurant space with patio seating, as well as 2,500 square feet of outdoor seating space overlooking Celebration of Life Park. Residential amenities will include a pool, fitness center, coworking spaces and a pet park. A construction timeline has not yet been established.

June 22, 2023

Development Multifamily Texas

Pacific Elm, Mintwood Begin Leasing 228-Unit Peridot Apartments in Downtown Dallas

by Taylor Williams June 22, 2023

DALLAS — A partnership between Pacific Elm Properties and Mintwood Real Estate has begun leasing Peridot, a 228-unit apartment property located within the 1.3 million-square-foot Santander Tower mixed-use development in downtown Dallas. Peridot occupies 11 of Santander Tower’s 50 floors and offers one- and two-bedroom units ranging in size from 700 to 1,300 square feet. Residential amenities include a pool, dog park, fitness center, lounges and two lobby restaurants. Peridot’s grand opening is slated for July. Rents start at roughly $2,000 per month for a one-bedroom apartment. Santander Tower also houses a boutique hotel and Class A offices.

June 22, 2023

Leasing Activity Restaurant Retail Texas

Nine Retailers, Restaurants Debut New Stores at Galleria Dallas

by Taylor Williams June 22, 2023

DALLAS — Nine retailers and restaurant operators have or will soon debut new stores at Galleria Dallas. Outdoor apparel and equipment retailer Cotopaxi and women’s clothing provider Intimissimi have already opened. H&M Home has committed to 7,500 square feet to complement an existing store. Restaurants Salut Paris Bakery and North Italia will open this summer and fall, respectively. Louis Vuitton and Bachendorf’s also plan to launch new stores, and Luciano Pizza & Pasta and Mi Cocina have reopened following remodels. Trademark Property Group manages Galleria Dallas, and MetLife owns the property.

June 22, 2023

Leasing Activity Office Texas

Avison Young Negotiates 53,060 SF Office Lease in The Woodlands, Texas

by Taylor Williams June 22, 2023

THE WOODLANDS, TEXAS — Avison Young has negotiated a 53,060-square-foot office lease at The Woodlands Towers at The Waterway, an office property located about 30 miles north of Houston. Anthony Squillante and Drew Coupe of Avison Young represented the tenant, Kodiak Gas Services, which is relocating and expanding from its current office in Montgomery, Texas, in the lease negotiations. Robert Parsley, Norman Munoz and Jillian Fredericks of Colliers represented the landlord, The Howard Hughes Corp

June 22, 2023

Industrial Leasing Activity Texas

Prize Pest Control Signs 4,469 SF Lease at Industrial Flex Property in Irving

by Taylor Williams June 22, 2023

IRVING, TEXAS — Prize Pest Control has signed a 4,469-square-foot lease at Highview Business Center, an industrial flex property in Irving. According to LoopNet Inc., the complex was built on 2.9 acres in 1981 and totals 40,618 square feet. Jim Ferris of Bradford Commercial Real Estate Services represented the tenant in the lease negotiations. Barbara Brown of S&D Family Partners represented the landlord, an entity doing business as HV DJN Properties LP.

June 22, 2023

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