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.
HOUSTON — Marcus & Millichap has brokered the sale of Space City Self Storage, a 400-unit facility located about 10 miles south of downtown Houston. The facility consists of nine buildings that house 225 non-climate-controlled units and 175 climate-controlled units for a total of 57,545 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Houston-based limited liability company, in the deal. The duo also procured the buyer, an Arizona-based REIT. Both parties requested anonymity.
GRAND PRAIRIE, TEXAS — Texas-based developer Ironwood Realty Partners is underway on construction of 360 Crossing @ Red Hawk, a 214,801-square-foot industrial project in the central metroplex city of Grand Prairie. The rear-load, freestanding building will be situated on 12.5 acres and feature 36-foot clear heights, 10 dock-high loading doors, parking for 178 cars and 49 trailers and an ESFR sprinkler system. Delivery is slated for the fourth quarter.
THE WOODLANDS, TEXAS — JLL has negotiated the sale of two office buildings totaling 153,294 square feet in The Woodlands, about 30 miles north of Houston. The buildings sit on a combined 9.8 acres at 10200 Grogans Mill Road and 1610 Woodstead Court and had a collective occupancy rate of about 67 percent at the time of sale. Rick Goings, Marty Hogan and Kevin McConn of JLL represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
FARMERS BRANCH, TEXAS — Executive Refreshments, which provides pantry and vending machine stocking and services, has signed a 19,000-square-foot industrial lease at 13703-13707 Gamma Road in the northern Dallas metro of Farmers Branch. Jeff McVaney of Partners Real Estate represented the tenant in the lease negotiations. Chad Albert and D.J. Draper of Stoic Real Estate Partners represented the undisclosed landlord.
