HOUSTON — Locally based brokerage firm Cypressbrook Co. has arranged the sale of Richmond Design Center, a 25,441-square-foot shopping center in West Houston’s Greenway/Upper Kirby submarket. According to LoopNet Inc., the property was built on 1.6 acres in 1958 and renovated in 2003. John Hornbuckle of Cypressbrook Co. and Rick Hazard of Realty Services Group represented the Seller, America Equifinance Corp., in the transaction. Joe Foty of The Blue Ox Group represented the buyer, HRD Interests.
PASADENA, TEXAS — Locally based brokerage and investment firm Baker Katz has acquired a 22,241-square-foot, retail building that sits on a 2.9-acre site at 5445 Fairmont Parkway in Pasadena, an eastern suburb of Houston. The freestanding building most recently housed a Pep Boys auto parts store. Mark Raines of JLL represented the undisclosed seller in the transaction. Ben Brown represented Baker Katz, which plans to implement a value-add program, on an internal basis.
HOUSTON — Beauty Empire has signed a 14,471-square-foot retail lease at Barker Cypress Marketplace in West Houston. According to LoopNet Inc., the property was built on 16.5 acres in 1999 and totals 81,360 square feet. Jason Gaines of Sturbridge Commercial Real Estate represented the undisclosed landlord in the lease negotiations. Okyi Urbina-Torres of W. Realty & Investment Group represented the tenant, which will backfill a space previously occupied by CVS.
HOUSTON — Three new retailers have signed leases to open stores at Rice Village District, a shopping center located at 6225 Kirby Drive in Houston. Boutique retailer Luminary Lifestyle, jewelry brand gorjana and apparel retailer Mizzen+Main are all scheduled to open spaces at the property in early 2024. Bluestone Lane, [solidcore], The Rice Box and Navy Blue also recently opened at the center.
DALLAS — Houston-based developer Lovett Industrial has broken ground on a 960,956-square-foot project within the 140-acre Trinity West Business Park in West Dallas. Buildings II and III will total 763,960 and 196,996 square feet and are being developed as build-to-suits for a global logistics company and Dallas County, respectively. Arch-Con Corp. is the general contractor for the project, completion of which is slated for the fourth quarter.
IRVING, TEXAS — Locally based brokerage firm Wellington Realty has arranged the sale of Cielo Azul, an apartment community in Irving that was originally built in 1985 and totals 320 units, according to Apartments.com. The property offers one- and two-bedroom units and amenities such as a pool, fitness center, business center, playground and outdoor grilling and dining stations. David Shaffer, Caleb Jones, Will Miller and Charles Larkam of Wellington Realty brokered the deal. The buyer and seller were not disclosed.
IRVING, TEXAS — Eagle Property Capital, an investment firm with offices in Miami and Mexico, has sold Colinas Ranch Apartments, a 160-unit multifamily complex in Irving. Built in 1971, the property offers one-, two- and three-bedroom units and amenities such as a pool, clubhouse, outdoor grilling and dining areas and onsite laundry facilities. Eagle Property Capital acquired the asset in 2018 and implemented a value-add program. The buyer was not disclosed.
MESQUITE, TEXAS — Boston-based general contractor Suffolk has broken ground on the Dallas County Mesquite Government Center, a 56,325-square-foot civic project that will be located on the eastern outskirts of Dallas. The project will allow the Dallas County government to expand its presence in Mesquite. As such, the two-story building will house offices for tax appraisers, the county constable, justice of the peace and juvenile services, as well as an area for community events and early voting. Completion is slated for next June.
GARLAND, TEXAS — Marcus & Millichap has brokered the sale of Casa Bella, a 46-unit apartment complex located in the northeastern Dallas suburb of Garland. According to Apartments.com, the property was built in 1975. Ford Braly, Dylan York and Al Silva of Marcus & Millichap represented the out-of-state seller and procured the locally based buyer in the transaction. Both parties were private investors that requested anonymity. The new ownership plans to implement a value-add program.
WILMER, TEXAS — A partnership between Dallas-based Bandera Ventures and Atlanta-based Invesco Real Estate is underway on construction of two buildings totaling 1.5 million square feet at Southport Logistics Center, a speculative industrial development in the southern Dallas suburb of Wilmer. Building 1 will total 746,420 square feet, and Building 2 will span 744,452 square feet. Both structures will feature 40-foot clear heights, 60-foot loading bays, 185-foot truck court depths and cross-dock configurations. Completion is slated for the third quarter. JLL is marketing the development for lease.