Texas

Newmark Brokers Sale of 130,371 SF Lincoln Legacy Two Office Building in Plano

by Taylor Williams May 6, 2022

PLANO, TEXAS — Newmark has brokered the sale of Lincoln Legacy Two, a 130,371-square-foot office building in the Legacy area of Plano. The five-story building was constructed in 2014 and features a tenant lounge, fitness center and a four-story parking garage. Chris Murphy, Robert Hill, Gary Carr and Chase Tagen of Newmark represented the seller, a partnership led by Dallas-based Pillar Commercial, in the transaction. Josh Francis of Newmark arranged acquisition financing on behalf of the buyer, Missouri-based Larson Capital Management. Lincoln Legacy Two was 90 percent leased at the time of sale.

May 6, 2022

Acquisitions Retail Texas

JLL Negotiates Sale of 60,136 West U Marketplace Shopping Center in Houston

by Taylor Williams May 6, 2022

HOUSTON — JLL has negotiated the sale of West U Marketplace, a 60,136-square-foot shopping center in Houston. Whole Foods Market anchors the center, which also houses tenants such as Yoshi Sushi, Natural Pawz, Island Grill, French Cuff Boutique and River Oaks Nail & Spa. Chris Gerard, Ryan West and Katherine Miller of JLL represented the seller, an affiliate of New York-based Camden Securities Co., in the transaction. Brixmor Property Group (NYSE: BRX) acquired the asset for an undisclosed price.

May 6, 2022

Acquisitions Office Texas

SkyWalker Property Partners Sells 36,879 SF Call Center in Wichita Falls, Texas

by Taylor Williams May 6, 2022

WICHITA FALLS, TEXAS — Dallas-based SkyWalker Property Partners has sold a 36,879-square-foot call center located at 2236 Airport Freeway in Wichita Falls, about 140 miles northwest of Fort Worth. Situated on a seven-acre site, the property was fully leased at the time of sale to a subsidiary of customer service and communications firm The Results Cos. The call center was auctioned by Ten-X, with SCM Real Estate brokering for the seller of record, Wichita Calls LLC. The winning bid came from a local 1031 exchange buyer, Star Texan Properties LLC.

May 6, 2022

Development Mixed-Use Retail Texas

Festival Cos. Unveils Renovation Plans for 250,000 SF River Oaks District in Houston

by Taylor Williams May 5, 2022

HOUSTON — The Festival Cos. has unveiled renovation plans for River Oaks District, a 250,000-square-foot mixed-use development located at 4444 Westheimer Road in Houston. The 14-acre property was developed in 2015 and offers office space and luxury residential units alongside retail and restaurants. Enhancements will include the construction of a public park on the property’s western side, the redevelopment of the central plaza and the addition of three restaurants (Bari, Little Hen and Oio De Agua) with outdoor dining space. Construction is set to begin this month, with completion slated for the fall. Additionally, several new retailers are set to open this year, including Assouline bookstore, Jenni Kayne, La Vie Style House, Icon Luxury Sound, LoveShackFancy, Lunya, Lahgo, Teressa Foglia, The Conservatory, Yellow Korner and Zimmermann.

May 5, 2022

Acquisitions Retail Texas

CIM Group, Open Realty Advisors Sell Retail Portfolio in Dallas for $85.4M

by Taylor Williams May 5, 2022

DALLAS — A partnership between Los Angeles-based CIM Group and Open Realty Advisors has sold a portfolio of 15 single-story retail buildings totaling 124,000 square feet in the Knox-Henderson neighborhood of Dallas. The sale, which according to Culture Map Dallas fetched a price of $85.4 million, included a 4.3-acre parcel that can support up to 160,000 square feet of new development. The tenant roster encompasses retailers such as Sprouts Farmers Market, Warby Parker, Bonobos, CorePower Yoga and Heyday Skincare, as well as an array of food and beverage users. Ryan Shore, Chris Gerard, Barry Brown, Erin Lazarus and Beth Copeland of JLL represented the partnership in the transaction. New York-based Acadia Realty Trust purchased the portfolio.

May 5, 2022

Acquisitions Multifamily Texas

ShainRealty Capital Acquires 267-Unit Apartment Community in Euless, Texas

by Taylor Williams May 5, 2022

EULESS, TEXAS — Los Angeles-based ShainRealty Capital has acquired The Landing, a 267-unit apartment community in Euless, located in the central part of the Dallas-Fort Worth metroplex. Built in 1983, the property features one- and two-bedroom units with an average size of 770 square feet and amenities such as a pool, fitness center and a playground. Arlington-based 180 Multifamily Properties sold the community for an undisclosed price. Bard Hoover and Wes Racht of Marcus & Millichap brokered the deal. Miami-based Rialto Capital provided acquisition financing on behalf of ShainRealty Capital, which plans to implement a $3 million value-add program and rebrand the property as Infinity on the Landing.

May 5, 2022

Development Multifamily Texas

StreetLights Residential, Hunt Cos. to Develop 134-Unit Apartment Complex in Houston

by Taylor Williams May 5, 2022

HOUSTON — Dallas-based StreetLights Residential, in partnership with El Paso-based Hunt Cos., will develop The Langley, a 134-unit apartment complex that will be located at 1717 Bissonet St. in Houston. The location is near Rice University on the city’s southwest side. The Langley will feature two- and three-bedroom units. Amenities will include a pool, fitness center, coworking spaces, a coffee lounge, 24-hour concierge and valet services and a full resident bar. Construction slated to begin in November and to be complete in 2025.

May 5, 2022

Leasing Activity Office Texas

Grant Thornton Signs 24,600 SF Office Lease at Ross Tower in Downtown Dallas

by Taylor Williams May 5, 2022

DALLAS — Tax advisory firm Grant Thornton has signed a 24,600-square-foot office lease at Ross Tower in downtown Dallas. The 45-story building houses a food hall, fine dining restaurant Dakota’s Steakhouse and a Starbucks, as well as built-in conference facilities and a tenant lounge. Travis Boothe and Robbie Baty of Cushman & Wakefield represented Grant Thornton in the lease negotiations. Hunter Lee, Ben Cuzen and Luke Aviles represented the landlord, HPI Real Estate Services & Investments, on an internal basis.

May 5, 2022

Development Mixed-Use Texas Top Stories

Centurion American Breaks Ground on 3,200-Acre Mixed-Use Development in North Texas

by Taylor Williams May 5, 2022

CELINA, TEXAS — Centurion American Development Group has broken ground on Legacy Hills, a mixed-use, master-planned development that will span approximately 3,200 acres in the North Texas city of Celina. The site is located at the corner of Legacy Drive and Celina Parkway, about 40 miles north of downtown Dallas. Legacy Hills will feature more than 10,000 residential units, with current plans calling for about 7,000 single-family homes and 4,100 multifamily units. The commercial component will encompass 100 acres and will include retail, restaurant and entertainment space, though other uses within that portion of the project have not yet been announced. In addition, Centurion American has earmarked two 12-acre parcels as future sites of schools within the Celina Independent School District, as well as two seven-acre tracts that will house fire and police stations. A network of hiking and biking trails will link various pieces of the development, and Centurion has allocated 27 acres for the City of Celina to develop into a sports park. Lastly, a championship golf course, complete with a driving range, putting green and clubhouse, will run through the center of the site. The single-family homes will be spread across seven subdivisions, each of which will …

May 5, 2022

Acquisitions Multifamily Texas

American Landmark Acquires 293-Unit H6 Apartments in Houston’s Energy Corridor

by Taylor Williams May 4, 2022

HOUSTON — Tampa-based multifamily investment firm American Landmark has acquired H6, a 293-unit apartment community in Houston’s Energy Corridor area. Built in 2016, the property offers one- and two-bedroom units ranging in size from 475 to 1,444 square feet. Apartments feature stainless steel appliances, European cabinetry, granite countertops, washers and dryers and private balconies. Amenities include a pool, fitness center, game room, business center and a Zen garden. The seller was not disclosed. American Landmark has subsequently rebranded the community as Neo at Ten.

May 4, 2022

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