Texas

JPI Begins Construction of 390-Unit Multifamily Property in Farmers Branch, Texas

by Taylor Williams December 20, 2018

FARMERS BRANCH, TEXAS — Irving-based JPI has broken ground on Jefferson East Branch, a 390-unit multifamily property in Farmers Branch, a northern suburb of Dallas. Units will feature 10-foot ceilings, balconies and washers and dryers, and amenities will include a pool, fitness center and yoga studio, a 2,400-square-foot sky lounge and dedicated office space. The first units are slated for a third-quarter 2020 delivery. Texas Capital Bank provided financing for the project. WDG Architecture, Dement Designs and Kimley-Horn and Associates collaborated as the design team.

December 20, 2018

Acquisitions Multifamily Texas

IPA Negotiates Sale of 324-Unit Apartment Community in Metro Houston

by Taylor Williams December 20, 2018

ROSENBERG, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Dolce Living Rosenberg, a 324-unit multifamily community in Rosenberg, a southwestern suburb of Houston. Built in phases in 2012 and 2014, the property features one-, two- and three-bedroom units and amenities such as a pool, Wi-Fi café, a fitness center, indoor basketball court, dog park and a business center. Will Balthrope, Drew Kile and Jennifer Campbell of IPA represented the seller, Dolce Living, and procured the buyer, Houston-based Ilan Investments.

December 20, 2018

Industrial Leasing Activity Texas

Door Provider Signs 127,545 SF Industrial Lease in Fort Worth

by Taylor Williams December 20, 2018

FORT WORTH, TEXAS — Panoramic Doors has signed a 127,545-square-foot industrial lease at 15050 Frye Road in Fort Worth. According to LoopNet Inc., the property was built in 1987 and features 30-foot clear heights and 13 dock-high doors. Seth Koschak and Forrest Cook of Stream Realty Partners represented the tenant in the lease negotiations. Steve Koldyke and Brian Gilcrest of CBRE represented the landlord, Stonelake Capital Partners.

December 20, 2018

Development Retail Texas

Reign Enterprise to Build 14,350 SF Retail Center in Metro Houston

by Taylor Williams December 20, 2018

HUMBLE, TEXAS — Local developer Reign Enterprise Inc. will build a 14,350-square-foot, multi-tenant retail center on Will Clayton Parkway in the northern Houston suburb of Humble. Adam McAlpine of McAlpine Interests represented Reign Enterprise in the acquisition of the 1.7 acres on which the property will be built. Tom Condon Jr. of Colliers International represented the seller. A timeline for construction was not disclosed.

December 20, 2018

Development Mixed-Use Texas

KBH Ventures, KDW Unveil Plans for Katy Boardwalk District in Metro Houston

by Taylor Williams December 19, 2018

KATY, TEXAS — Developers KBH Ventures and Houston-based KDW have unveiled plans for Katy Boardwalk District, a mixed-use project on the western outskirts of Houston. The master development calls for a full-service conference center hotel with at least 300 rooms, a 319-unit residential community, 155,000 square feet of retail and restaurant space and 60,000 square feet of Class A office space. Construction of the hotel is expected to begin in fall 2019 while construction of the residential component is slated to begin in January and wrap by spring 2020. Construction of the retail phase is scheduled to begin in late 2019.

December 19, 2018

Development Mixed-Use Texas

Thakkar, CricRealty to Develop Cricket Stadium, 80-Acre Mixed-Use Project in Allen, Texas

by Taylor Williams December 19, 2018

ALLEN, TEXAS — Texas-based Thakkar Developers, in partnership with CricRealty Co., will develop a 15,000-seat cricket stadium and 80-acre mixed-use development in Allen, a northeastern suburb of Dallas. The project, which has been branded Allen Sports Village, will deliver 500,000 square feet of Class A office space, 1,000 residential units, 165,000 square feet of retail and restaurant space, an event center and two hotels. The stadium will also be used for other sporting events and concerts. Construction is expected to begin in 2019. The first phase, which includes the stadium, is slated for a 2021 completion.

December 19, 2018

Acquisitions Multifamily Texas

Muskin Commercial Brokers Sale of 228-Unit Apartment Community in Killeen, Texas

by Taylor Williams December 19, 2018

KILLEEN, TEXAS — Austin-based Muskin Commercial LLC has brokered the sale of River Oaks Apartments, a 228-unit multifamily community in Killeen, about 65 miles north of Austin. Muskin Commercial represented the seller, 101 S. Twin Creek LLC, which acquired the asset in 2015 and upgraded the unit interiors and amenity spaces. Rich Heine of Southwest Investment Properties represented the buyer, California-based Redford Park LLC, in the transaction.

December 19, 2018

Civic Development Texas

Woodmont Begins Work on 13,500 SF Kiddie Academy in Metro Austin

by Taylor Williams December 19, 2018

CEDAR PARK, TEXAS — Retail development and management firm The Woodmont Co. has begun work on a 13,500-square-foot project for Kiddie Academy in the northern Austin metro of Cedar Park. The project will convert an existing structure into a full-time childcare center for younger children that will include summer camps. The opening is slated for March 2019.

December 19, 2018

Development Office Texas

Local Artist to Open 3,600 SF Creative Office Space in Austin

by Taylor Williams December 19, 2018

AUSTIN, TEXAS — Local artist and designer Lauren Cunningham will open The Commune, a 3,600-square-foot creative office space in central Austin. Set to open in February 2019, the space will be housed in an abandoned building at 101 E. North Loop Blvd. Individual features will include seven private studios, 10 dedicated desks and shared workspace.

December 19, 2018

Acquisitions Industrial Texas

Hines Sells 150 Acres in Metro Houston to Costco for Distribution Project

by Taylor Williams December 18, 2018

KATY, TEXAS — Hines has sold 150 acres in the western Houston suburb of Katy to Costco Wholesale Corp., which will develop a large-format distribution center, according to local media reports and a press release from the Houston-based real estate giant. Andy Sowell and Bo Pettit of Boyd Commercial represented Hines in the sale of the tract, which is known as Pintail Business Park. A timeline for construction has not been reported or disclosed.

December 18, 2018

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