FAIRVIEW, TEXAS — Revolving Kitchen has opened a 30,000-square-foot food hall at 146 Town Place in Fairview, a northern suburb of Dallas. The food hall will feature 34 fully equipped commercial kitchen spaces ranging in size from 260 to 1,100 square feet. Operators that have already committed to Revolving Kitchen Fairview include Brooklyn Bagels, Chanko Nutrition and Emmy J’s Pizza. Lincoln Property Co. owns the building.
Some commercial real estate developers work primarily with architects and engineers to establish a project’s scope and expected cost, leaving the selection of a general contractor or project manager until they are nearly ready to break ground. And by following this traditional approach, they may be leaving money on the table. A better practice is to engage contractors during project planning, industry experts advise. That’s because experienced contractors can provide practical insight into pricing and availability of materials and labor, informing critical planning decisions. Those same builders can be a sounding board for site civil engineers mapping out site preparation, utility installation, access and sequencing for the various tradespeople working on a project. “Involving a general contractor early is particularly beneficial for large-scale or phased construction projects,” says Daniel Hines, a principal in Bohler’s Charlotte office. “It enables us to approach the design more strategically, reduce costs and deliver more accurate timelines.” “The overall goal of getting a general contractor and an engineer working together is to maintain your schedule and your budget,” agrees Jeff Mitchell, director in the Charlotte, North Carolina office of Duffey Southeast Construction Inc. “Engineers are the experts at designing projects, but ultimately it is the …
GARLAND, TEXAS — New York City-based Dwight Capital has provided a $35.2 million HUD-insured construction loan for Millennium Village, a 199-unit multifamily project that will be located in the northeastern Dallas suburb of Garland. The market-rate property will consist of four residential buildings and a parking garage on a 4.5-acre site. Residences will comprise 17 studios, 132 one-bedroom units, 35 two-bedroom apartments and 15 two-bedroom townhome residences, each with private two-car garages. Amenities will include a clubhouse, fitness center, pool, rooftop lounge with an outdoor deck, electric vehicle charging stations and a dog park. Brandon Baksh and Brian Yee of Dwight originated the debt through HUD’s 221(d)(4) program on behalf of the local developer, Pinnacle Facility Engineering.
FORT WORTH, TEXAS — Cushman & Wakefield has arranged the sale of Centerport 1, a 122,259-square-foot distribution building in Fort Worth. The building is located just south of DFW International Airport within the 1,300-acre Centerport Business Park and was fully leased at the time of sale to print and digital communications products provider Venture Solutions. Jim Carpenter, Jud Clements, Robby Rieke and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. Rob Rubano, Max Schafer and Brian Share, also with Cushman & Wakefield, arranged acquisition financing on behalf of the buyer, Founders Properties.
HOUSTON — Steel distributor Action Stainless has signed a 105,300-square-foot industrial lease at 10111 Houston Oaks Drive in northwest Houston. Building A at the property spans 65,500 square feet with 15,000 square feet dedicated to office use, while Building B offers 39,800 square feet, including 3,000 square feet of office space. Jack Gaffney and Andrew Bischoff of Finial Group represented the undisclosed landlord in the lease negotiations.
SAN ANTONIO — CBRE has brokered the sale of an 80,000-square-foot office building located at 3900 Rogers Road on the west side of San Antonio. According to LoopNet Inc., the building was originally constructed in 2005. Larry Mendez and Yobana Castillo of CBRE represented the buyer, COPT Defense Properties, in the transaction. Chesapeake Associates Ltd. sold the asset for an undisclosed price.
AUSTIN, TEXAS — General contractor Citadel Development has completed a 10,000-square-foot office redevelopment project in Austin. The project converted a building that was originally constructed in 1970 into a modern creative office facility with outdoor green space and amenity areas, as well as onsite parking. Locally based architecture firm Mark Odom Studio designed the project.
MIAMI — An affiliate of Miami-based investment firm Atlantic Pacific Cos. has received Freddie Mac loans totaling $112.4 million for the refinancing of a trio of multifamily properties in the Dallas-Fort Worth (DFW) metroplex. The financing consists of a $40 million loan for Atlantic Stonebriar, a 294-unit property located in the northern Dallas suburb of The Colony; $42.3 million in debt for Atlantic McKinney, a 343-unit community that is also located on the northern outskirts of Dallas; and a $30.2 million loan for Atlantic Station, a 324-unit development in Fort Worth. Atlantic Pacific closed the loans in conjunction with fresh debt for four other properties, three of which are located in the Atlanta area and the fourth of which is located in Cary, N.C. The seven new mortgage loans are structured with five-year terms and fixed interest rates averaging approximately 5.1 percent.
RICHARDSON, TEXAS — Newmark has brokered the sale of Lakeside Campus, a two-building, 807,354-square-foot office property located in the northeastern Dallas suburb of Richardson. The 18-acre property comprises a 16-story and four-story office buildings, as well as a structured parking deck and a landscaped pond with walking trails. Real estate data and analytics firm RealPage anchors the campus, which was 69 percent leased at the time of sale, and the overall tenant roster carries a weighted average remaining lease term of about four years. Chris Murphy, Robert Hill, Gary Carr and Stephen Schwalb of Newmark represented the seller, Trigild, in the transaction. The buyer was Provident Realty Advisors.
BEE CAVE, TEXAS — AvalonBay Communities (NYSE: AVB), a Virginia-based REIT, has purchased Brisa Townhomes, a 126-unit multifamily property located on the western outskirts of Austin in Bee Cave. Built in 2022, Brisa Townhomes offers three- and four-bedroom residences with direct-access, two-car garages. Amenities include a pool, fitness center, conference room and outdoor grilling and dining stations. Patton Jones and Andrew Dickson of Newmark represented the undisclosed seller in the transaction. The new ownership has rebranded the property as Avalon Townhomes at Bee Cave.