Category: North Texas Deals & Announcements

Hartman announces new leasing transactions in Dallas and San Antonio

Posted on by Mia Goulart

Hartman INCOME REIT MANAGEMENT, Inc. has recently announced two leasing transactions in Texas:

  1. Integrated Telecom Solutions renewed 2,018 square feet at 12221 Merit Drive in Dallas, Texas. In the transaction, the tenant self-represented, and Alex Houston represented the landlord, Hartman Income REIT. 
  2. Trinidad Resources, LLC renewed 2,196 square feet at 8610 North New Braunfels in San Antonio, TX. In negotiations, Kaila Brodeur represented the landlord, Hartman Income REIT. 
  3. RealManage, LLC renewed 2,060 square feet at 613 NW Loop 410 in San Antonio, TX. In negotiations, Kaila Brodeur represented the landlord, Hartman Income REIT. 
  • 12221 Merit Drive, Dallas
  • 8610 North New Braunfels, San Antonio
  • 613 NW Loop 410, San Antonio

CBRE announces sale of new, two-building industrial portfolio in Denton

Posted on by Mia Goulart

CBRE has arranged the sale of Denton Point I & II, two warehouse and distribution facilities totaling 242,320 square feet in Denton, to San Diego-based Westcore for an undisclosed price.

Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller.

Denton Point I is a 112,320-square-foot facility located at 451 S. Western Blvd. with 3,744 square feet of office space and 28 dock doors. It is fully occupied by DHL Supply Chain. Denton Point II is a 130,000-square-foot facility located at 421 S. Western Blvd. with 6,581 square feet of office space and 32 dock doors. Lowe’s Home Centers occupies 78,000 square feet and Muenster Milling Company occupies 52,000 square feet in the building.

Both buildings were delivered in 2022 and feature institutional quality specifications, including concrete tilt-up construction, 32-foot clear heights, ESFR sprinkler systems, LED lighting, and heavy power. The rear-load facilities also feature 180-foot truck courts, as well as 38 trailer- and 125 auto-parking spaces each.

The property sits on an 18.59-acre site approximately 2.1 miles from the I-35E/I-35W interchange, providing tenants with direct trucking routes to both Dallas and Fort Worth’s CBDs.

City of McAllen receives biggest monthly sales tax remittance in history 

Posted on by Mia Goulart

The sales tax allocation for the City of McAllen for February is $10.6 million, up 7.94% from last year’s revenue generated in retail sales for the same month of December (2022 vs 2021), when McAllen collected a record $9.8 million in sales tax revenue.  

“Sales tax revenue is not only a boost for economic development for our community, but also, helps to provide property tax relief to McAllen taxpayers, allowing the City of McAllen to have one of the lowest property tax rates in the Rio Grande Valley,” said McAllen City Manager Roel “Roy” Rodriguez, P.E.  “McAllen is the top South Texas retail destination south of San Antonio, drawing in shoppers from throughout the region, including northern Mexico.  This allows the City of McAllen to continually invest in the quality of life for our residents and all who come to work, play, shop or do other business in the city.” 

Year to date sales tax allocation for the City of McAllen is currently up 5.81% from last year.

Lucid expands DFW presence with new Class A office

Posted on by Mia Goulart

Lucid Private Offices, formerly known as WorkSuites, has signed a 31,000-square-foot lease at International Business Park located at 6275 W. Plano Parkway. The company will occupy the fifth floor of the newly constructed Class A office building.

JLL’s Trevor Franke and Gini Rounsaville represented Billingsley Company, the landlord, and CRESA’s John Pelletier and Austin Studebaker represented the tenant, Lucid Private Offices.

The five-story office building in the heart of Dallas’ Platinum Corridor features 48,000-square-foot floor plates, large windows, art installations, and balconies on multiple floors. It also overlooks a park with a walking trail and outdoor workspaces. Furthermore, the 10,000-square-foot amenity center next door includes a fitness center, conference center, tenant lounge and mini market.

Phase two of the International Business Park’s expansion will bring an additional 280,000 square feet of space to the market and is set to be delivered in March. The building, with balconies on Floor 4 and 5, will be the largest in the park and is expected to be 20% leased at the time of delivery.

Home Depot signs long-term renewal at Hartman’s Cooper Street Plaza in Arlington

Posted on by Mia Goulart

Home Depot U.S.A., Inc. (Home Depot), the world’s largest home improvement retailer, has signed a long-term 35,840-square-foot lease renewal at 4601 Cooper Street in Arlington. Cooper Street Plaza is a retail shopping center operated by Hartman Income REIT Management, Inc., a commercial real estate operator of its portfolio, and owned by its affiliate, Silver Star Properties REIT, Inc. headquartered in Houston.

Home Depot is the third big box store renewal at Cooper Street Plaza for the landlord in the last 12 months. At the retail center, the home improvement store boasts the largest footprint by square footage and serves as a co-anchor tenant to UPS, Mattress Firm, and OfficeMax.

In the last year, Cooper Street Plaza has welcomed two additional well-known tenants to its mix, Black Rifle Coffee Company and State Farm Insurance. Hartman’s Cooper Street Plaza is a conveniently located retail center just one light south of Ronald Regan Memorial Highway. The property sees an average count of 150,000 vehicles per day while residing within three square miles of a population of 121,939.

In the leasing transaction, Brent St. Amant represented the landlord.

Stream Realty Partners secures local buyer to occupy office building in Plano submarket

Posted on by Mia Goulart

Stream Realty Partners has secured a local buyer for a two-story Plano office building with a basement showroom on the market for only 31 days.

Peacock Point LLC recently completed the purchase of 5500 W. Plano Parkway from Hacienda Care V L.P., closing within 96 days of the property being listed. Stream, a national commercial real estate firm offering an integrated platform of services, represented the seller in the transaction. Stream Dallas Managing Director Jamie Jennings and Senior Vice President Ryan Evanich served as the brokers. Pam Goodwin of Goodwin Advisors LLC represented the buyer.

5500 W. Plano Parkway offers 30,066 square feet of rentable office space and a 7,640-square-foot basement showroom/storage area. The Class A property sits on more than 2.2 acres of well-landscaped land and features 124 covered and surface parking spaces. The building was vacant at the time of sale. Peacock Point plans to occupy the facility.

Offering easy access to Dallas Love Field and Dallas Fort Worth International airports, 5500 W. Plano Parkway is in the Upper Tollway submarket and just minutes from the President George Bush Turnpike and Dallas North Tollway. Multiple well-known regional medical facilities and global corporate headquarters are within easy reach.