Texas

Jenkins Breaks Ground on 1,090-Unit Self-Storage Facility in Austin

by Taylor Williams May 23, 2019

AUSTIN, TEXAS — The Jenkins Organization, a Houston-based developer and manager of self-storage properties, has broken ground on Bergstrom Storage, a 1,090-unit facility located at 530 S. Highway 182 near Austin-Bergstrom International Airport in southeast Austin. The 238,000-square-foot facility will offer climate- and non-climate-controlled storage space, as well as boat and RV storage, gated security entry, electronic security monitoring throughout and an onsite manager. The opening is slated for March 2020.

May 23, 2019

Leasing Activity Restaurant Retail Texas

Eataly to Open 48,000 SF Italian Marketplace at NorthPark Center in Dallas

by Taylor Williams May 23, 2019

DALLAS — Eataly, a concept that offers Italian-inspired food and drink in a marketplace setting, has signed a lease to open a 48,000-square-foot space at NorthPark Center, an enclosed shopping mall in Dallas. This location will be the company’s first in Texas. Scott Muller, Katie Rambie, Kiley Pipkin, Zach Ballenger, Justin Rasansky, Sydney Muller and Jack Gosnell of CBRE represented Eataly in the lease negotiations.

May 23, 2019

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 77-Unit Manufactured Housing Property in Beaumont

by Taylor Williams May 23, 2019

BEAUMONT, TEXAS — Marcus & Millichap has arranged the sale of Oak Forest Mobile Home Park, a 77-unit manufactured housing property located in the East Texas city of Beaumont. Robert Denninger of Marcus & Millichap represented the seller and procured the buyer in the deal, both of which were private investors. Additional terms of sale were not disclosed.

May 23, 2019

Development Multifamily Student Housing Texas

Park7 Group Breaks Ground on 701-Bed Student Housing Project in Arlington

by Taylor Williams May 22, 2019

ARLINGTON, TEXAS — New York City-based developer Park7 Group has broken ground on Park Place Arlington, a student housing project that will feature 701 beds for students attending the University of Texas at Arlington. The property, located one block from campus in downtown Arlington, will also house 9,000 square feet of ground-floor retail space. Park Place Arlington’s 298 units will offer designer wood cabinetry, stainless steel appliances and washers and dryers. All units also come equipped with a 50-inch flatscreen TV. Amenities will include an oversized pool, half-court basketball court, volleyball court, spa, movie theater, golf simulator, study courtyards, a two-story fitness center and a resident-only clubroom. Humphreys & Partners Architects designed the project, which is slated for completion in summer 2020.

May 22, 2019

Development Office Texas

Cawley Partners to Develop 200,000 SF Office Building in Plano

by Taylor Williams May 22, 2019

PLANO, TEXAS — Dallas-based Cawley Partners will develop HQ53, a 200,000-square-foot office building that will be located at 5300 Headquarters Drive in Plano. The Class A building will offer collaborative gathering spaces, as well as a 6:1 parking ratio and access to a variety of nearby retail and dining options. The groundbreaking is slated for September and completion is scheduled for September 2020. BOKA Powell is the project architect.

May 22, 2019

Affordable Housing Loans Multifamily Texas

Hunt Provides $28.3M Loan for Refinancing of Houston Affordable Housing Community

by Taylor Williams May 22, 2019

HOUSTON — Hunt Real Estate Capital has provided a $28.3 million Freddie Mac loan for the refinancing of Heights at Post Oak, a 940-unit affordable housing community in Houston. Built in 1972 on 39.4 acres, the property offers units that are all available to residents earning less than 60 percent of the area median income. The loan carries a sever-year term, floating interest rate and three years of interest-only payments. The borrower, Iliad Realty Group, will implement a value-add program over the next year, which will deliver upgrades to the interiors of vacant units, as well as new amenities such as a leasing office and fitness center. Sal Torre of Estreich & Co. arranged the funds with Hunt.

May 22, 2019

Leasing Activity Office Texas

Complexity Gaming Opens 11,000 SF Headquarters at The Star in Frisco

by Taylor Williams May 22, 2019

FRISCO, TEXAS — Complexity Gaming, an esports organization, has opened its 11,000-square-foot office headquarters at The Star, the Dallas Cowboys 91-acre mixed-use campus in Frisco. Designed by ICRAVE, the space features a public area and retail space, as well as training rooms and innovation labs for esports players, which compete professionally in video games. A GameStop Performance Center will also open this summer and will carry merchandise from Complexity Gaming.

May 22, 2019

Acquisitions Office Texas

Marcus & Millichap Arranges Sale of 32,864 SF Office Building in McAllen

by Taylor Williams May 22, 2019

MCALLEN, TEXAS — Marcus & Millichap has arranged the sale of McAllen Commerce Center, a 32,864-square-foot office building located in the Rio Grande Valley region. Gustavo Torres of Marcus & Millichap’s San Antonio office represented the seller, a private investor, in the transaction. Joshua Murphy of Marcus & Millichap represented the buyer, also a private investor. Additional terms of sale were not disclosed.

May 22, 2019

Development Multifamily Retail Texas

GID Development to Build 600-Unit Apartment Project in Houston

by Taylor Williams May 21, 2019

HOUSTON — GID Development Group, which has nine regional offices across the country, will develop a 600-unit multifamily project within Regent Square, a 24-acre mixed-use development in Houston. The project, which will include 50,000 square feet of street-level retail space, marks the second multifamily phase of Regent Square, and follows the delivery of the 21-story Sovereign at Regent Square building in 2015. Floor plans will include studio, one- and two-bedroom units. The groundbreaking for the project, which is being designed by Boston-based CBT, is slated for this fall. JLL will handle leasing of the retail space.

May 21, 2019

Loans Multifamily Student Housing Texas

HFF Places Loan for Refinancing of 717-Bed Student Housing Property in Houston

by Taylor Williams May 21, 2019

HOUSTON — HFF has placed a loan for the refinancing of Aspen Houston, a 717-bed student housing property located at 4971 Martin Luther King Blvd in Houston. The amount of the loan was not disclosed, but the financing was arranged as part of a $92 million package to refinance a student housing portfolio totaling 1,653 beds in Iowa, Texas and South Carolina. Doug Opalka, Casey Wenzel and Michael Johnson of HFF arranged the funds on behalf of the ownership, which is partnership between Austin-based developer Aspen Heights and global investment firm Safanad.

May 21, 2019

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