PFLUGERVILLE, TEXAS — Los Angeles-based developer Banyan Residential has broken ground on Banyan Everton, a 234-unit build-to-rent project in the northern Austin suburb of Pflugerville. The site spans 34.4 acres. Homes will come in three- and four-bedroom floor plans, have an average size of 1,771 and include private garages and fenced backyards. Banyan Everton will also offer a communal pool, fitness center and open green space. Completion is scheduled for the first quarter of 2024.
DALLAS — Northmarq has brokered the sale of Wyndham on the Creek, a 150-unit multifamily property in North Dallas. Built in 1984, the property offers one- and two-bedroom units that range in size from 603 to 1,100 square feet and are furnished with washer and dryer hookups, granite countertops and private balconies/patios. The amenity package comprises a pool, clubhouse, business center and onsite laundry facilities. Taylor Snoddy, Eric Stockley, Charles Hubbard and Philip Wiegand of Northmarq brokered the deal. The buyer was a partnership between two Dallas-based firms, Realty Capital Partners and Windmass Capital. The seller were not disclosed.
HOUSTON — Rice Management Co., the entity that acts as steward of Rice University’s endowment, has signed new tenants to leases totaling roughly 35,000 square feet at The Ion District, a 12-block office, life sciences and innovation hub in Houston. Among the new tenants are carbon capture company Carbon Clean, Norwegian software developer Cognite and medical equipment manufacturer Motif Neurotech. These tenants join Houston-based private equity firm Ara Partners and coworking concept Common Desk. Savills represented ownership in all lease negotiations. Construction of new lab space is also now underway at The Ion District.
HOUSTON — Partners Real Estate has arranged a 52,622-square-foot office sublease at Remington Square, an office park in northwest Houston. Dan Boyles of Partners represented the sublessee, Patterson-UTI Energy Inc., which provides drilling and pressure pumping services, in the lease negotiations. Jon Williams and Kevin Saxe of CBRE represented the sublessor, Acclara Solutions, a provider of medical billing services. Locally based developer Caldwell Cos. owns Remington Square.
DALLAS — Lee & Associates has negotiated a 23,250-square-foot industrial lease in the Lake Highlands area of Dallas. According to LoopNet Inc., the property at 11025-11035 Switzer Road was built on 4.4 acres in 1981 and features 22-foot clear heights, 13 exterior dock doors and 98 parking spaces. Brett Lewis and Ken Wesson of Lee & Associates represented the landlord, Link Industrial Properties, in the lease negotiations. Andrew Johnson of Colliers represented the tenant, Logisticorp Wholesale Trade.
DALLAS — Dallas-based discount home goods retailer Tuesday Morning is going out of business and closing all of its stores. The company’s website lists a going-out-of-business sale where consumers can save up to 30 percent off all items. The retailer has about 200 stores remaining in 25 states. The news comes just one week after Bed Bath & Beyond’s announcement of its closure. Tuesday Morning struggled throughout the pandemic, filing for Chapter 11 bankruptcy protection in May 2020. At that time, the retailer shuttered about 230 of its 687 stores. Notably, the company does not have an e-commerce platform. Earlier this year, Tuesday Morning attempted to reorganize its finances and secured $12.5 million debtor-in-possession financing from Gordon Brothers. The financing was intended to reduce outstanding liabilities and continue transforming operations through the bankruptcy process. In late December 2022, the retailer voluntarily delisted from the Nasdaq capital market. At that time, the company’s stock price had plummeted to $1.54 per share. Tuesday Morning opened its first store in 1974. The retailer sells home textiles, home furnishings, housewares, food, toys and seasonal decor at prices generally below those found in boutique, specialty stores, department stores, catalogs and online retailers. — Kristin Harlow
SAN ANTONIO — Locally based developer Koontz Corp. will build Frontera Logistics Supersite, a 188-acre industrial project that will be located on the south side of San Antonio. Plans currently call for up to 2.8 million square feet of manufacturing and warehouse space across eight buildings with parking for 3,350 cars and 812 trailers. Carl Olson of Olson Properties represented the undisclosed sellers in the disposition of the land, which is an assemblage of 11 parcels. Koontz Corp. was self-represented in that transaction. Beaty Palmer Architects is designing the project, and Partners Real Estate has been appointed as the marketing and leasing agent. A construction timeline has not yet been finalized.
NORTH RICHLAND HILLS, TEXAS — Colliers Mortgage has provided a Fannie Mae acquisition loan of an undisclosed amount for Castlewinds Apartments, a 156-unit multifamily complex located in the Fort Worth suburb of North Richland Hills. The property offers amenities such as a pool, fitness center and onsite laundry facilities. Fritz Waldvogel of Colliers Mortgage originated the five-year loan on behalf of the borrower, an entity doing business as Haven NRH Inc.
PASADENA, TEXAS — Locally based brokerage firm Partners Real Estate has arranged the sale of a 60,680-square-foot industrial property in the eastern Houston suburb of Pasadena. The multi-tenant facility sits on a 10.6-acre site at 3321-3411 Westside Drive. According to LoopNet Inc., the building rises two stories, was constructed in 1973 and has four drive-in doors. Clay Pritchett and Zane Carman of Partners represented the buyer, Grace Heritage Properties, in the transaction. The seller was also not disclosed.
ELMENDORF, TEXAS — Houston-based brokerage firm Finial Group has negotiated a 29,105-square-foot industrial lease renewal in Elmendorf, a southeastern suburb of San Antonio. According to LoopNet Inc., the property at 19940 I-27 S was built on 2.2 acres in 2013 and features 16- to 20-foot clear heights. Finial Group owns the building, and internal agents David Durham and Patrick Rubsamen negotiated the deal. Brian Schaffer of Realty Austin represented the tenant, Midwest Hose & Specialty, which serves the energy sector.