FLOWER MOUND, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 45,000-square-foot industrial lease in Flower Mound, a northeastern suburb of Fort Worth. According to LoopNet Inc., the building at 1200 Lakeside Parkway was built on 26 acres in 2007 and features 18-foot clear heights. Andrew Gilbert and Keaton Brice off Holt Lunsford represented the landlord, Prologis, in the lease negotiations. Tyler Howarth and Abby Aulds, also with Holt Lunsford, represented the tenant, Lux Ice, which makes slow-melting drinking ice for alcoholic beverages.
HOUSTON — Three retailers have signed leases at Plazas at Midtown II, a shopping center in Houston. Dough Zone Dumpling House will open a 4,503-square-foot restaurant at the property, marking the brand’s first Texas location. Additionally, nightclub Clover has debuted an 1,848-square-foot venue, and Upscale Cleaners will open an 824-square-foot location. Fifth Corner is the landlord.
TERRELL, TEXAS — Lee & Associates has negotiated a 765,798-square-foot, full-building industrial lease in Terrell, located on the eastern outskirts of Dallas. According to LoopNet Inc., the building at 301 Apache Trail was constructed on 39.6 acres in 1999 and features 34-foot clear heights and 144 parking spaces. Ken Wesson and Michael Giuliano of Lee & Associates represented the undisclosed landlord in the lease negotiations. Dan Lawson of Proterra Properties represented the tenant, e-commerce technology and consulting firm Cart.com.
BASTROP, TEXAS — Atlanta-based multifamily developer Wood Partners has acquired 26 acres in Bastrop, about 30 miles east of Austin, for the construction of a 650-unit project. The site is located within a larger mixed-use development by Houston-based Pearl River Cos. John Baird, Michael Kennedy and Sullivan Johnston of Avison Young represented Pearl River Cos. in the disposition of the land. Wood Partners plans to break ground in the coming weeks and expects for construction to last 24 to 36 months. Information on floor plans and amenities was not disclosed.
AUSTIN, TEXAS — A partnership between North Texas-based developer M2G Ventures and Chicago-based Blue Vista Capital Management has purchased a 54,000-square-foot industrial property in Austin. The seller was not disclosed. The new ownership plans to add value to the property by enhancing the landscaping and office space, adding new signage, painting the building and extending the truck court. Leigh Ellis, Will Sikora and Chris Perry of locally based brokerage firm AQUILA Commercial negotiated the sale and will also market the property for lease.
OKLAHOMA CITY — Locally based developer The Medallion Group has broken ground on The Stacks, a 34,000-square-foot retail project in Oklahoma City. The site is located just east of Garth Brooks Boulevard on NW 10th Street. Tenants that have already committed to the development include Mediterranean restaurant Cava, fast-casual eatery Pickleman’s and locally based food-and-beverage concept The Surf Bar. Additional retail and medical users will be announced later this year. The Stacks is scheduled to open in the first half of 2024.
TULSA, OKLA. — An affiliate of Dallas-based SkyWalker Property Partners has sold a 20,160-square-foot industrial flex facility in Tulsa. The building at 3717 S. Sheridan Road sits on 1.7 acres and was vacant at the time of sale. Michael Schnake and Ward Seibert of Oil Capital Commercial Real Estate Services represented SkyWalker in the transaction. The buyer, local sign maker manufacturer Gravley Holdings LLC, was self-represented.
On the April 12 episode of “The Most Insightful Hour in CRE” webcast, Willy Walker, CEO of Walker & Dunlop, spoke to renowned economist Dr. Peter Linneman, founding principal of Linneman Associates, about pressing issues facing the economy, pandemic repercussions, market predictions and much more. The discussion began by diving into the economy and real estate market in its current state of flux, with many challenges facing both investors and developers. Walker outlines the unease created by the recent Silicon Valley Bank and Signature Bank crises. “One of the data points announced by the Fed is that since the crisis, bank lending in the United States has gone down by $110 billion over the two weeks since the Silicon Valley Bank collapse. Banks borrowed $160 billion in the two-week window prior. There’s a big drive toward liquidity; and yet there’s no new liquidity going out into the market.” “There’s 4.4 trillion dollars of commercial real estate (CRE) loans outstanding across all lending sources — CMBS, life insurance companies, banks, etc.,” continues Walker. “About half of that is non-multifamily properties. Banks hold about 40 percent of total outstanding loans on commercial properties.” If banks were to pull back from holding 40 percent …
IRVING, TEXAS — Newmark has arranged a $122 million loan for the refinancing of Alesio Urban Center, a 908-unit apartment community in Irving. Alesio Urban Center offers studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances and quartz countertops, as well as new hardware, lighting and cabinetry. Amenities include five pools, six courtyards, a fitness center, outdoor grilling and dining stations, running trails and a game lounge. Henry Stimler, Bill Weber and Ari Schwartzbard of Newmark arranged the five-year fixed-rate loan through global investment management firm KKR on behalf of the borrower, Harbor Group International.
IRVING, TEXAS — Capital Commercial Investments has acquired a 379,014-square-foot office building located at 5959 Las Colinas Blvd. in Irving. Capital Commercial also purchased the 290-acre campus on which the building is situated, which has the capacity for future expansion/development. Office amenities include a fitness center, cafeteria and multiple conference rooms. Michael Swaldi and Jonathan Carrier of JLL represented the undisclosed seller in the transaction. JLL has also been retained to manage the property and market it for lease.