CBRE announced the sale of Sunridge II, a 698,880-square-foot Class A+ distribution center, located at 1700 N. Goode Road in Wilmer, Texas. Cohen Asset Management purchased the property from Scannell Properties 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.

Delivered in 2022, the property is strategically located off I-45 and approximately one mile from the Union Pacific Intermodal Terminal. Built with market-leading specifications, the distribution center features 40-foot clear highs, cross-dock configuration, 138 dock doors, four drive-in ramps and an ESFR sprinkler system. In addition to the distribution space, the property includes 10,000 square feet of office space (making up 1.4% of the total property).

According to CBRE’s Q3 2022 Industrial MarketView, the South Dallas submarket remained the most sought-after area for industrial users across the metroplex with nearly 2.2 million square feet of net absorption in Q3 and 8.4 million square feet year to date (YTD). Despite the 30.2 million square feet of new deliveries in 2022, there has been 27 million square feet of leasing activity, leaving the direct vacancy rate for the metroplex at 4.9%.

JLL Capital Markets announced today that it has closed the sale of a three-property self-storage portfolio totaling 1,743 units in Dallas-Fort Worth.

JLL represented the seller, a joint venture between Harrison Street and Advantage Self Storage, and procured the buyer, HPI.

The facilities are located at 864 E. Belt Line Road in Cedar Hill, 8060 Precinct Line Road in Colleyville and 6818 FM 2499 in Denton. Each property has excellent frontage along a prominent thoroughfare and is located in a dense and affluent trade area. In addition, the immediate area surrounding all three properties have seen a 47% increase in multifamily development and a nearly 20% increase in residential development since 2010, ensuring steady demand for self-storage space.

The portfolio totals 201,850 square feet across the three properties. Features at the Class A, climate-controlled facilities include 24-hour video surveillance systems, security systems, electronic gate access, keypad entry and individual unit locks.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Brian Somoza and Steve Mellon, Directors Matthew Wheeler and Adam Roossien and Analyst Jake Kinnear.

“The self-storage sector in Dallas-Fort Worth continues to benefit from the area’s strong job growth, job recovery and population growth,” Mellon said.

JLL’s Hotels & Hospitality Group has closed the $55 million sale of six Hyatt Place-branded select-service hotels totaling 754 keys across the Southeast, Texas and Kansas.

JLL worked on behalf of Argentic Services Company LP, as a special servicer for the seller’s two CMBS Trusts, in the sale of the properties to HKB Hotel Group, LLC. The properties were offered unencumbered by management and with long-term Hyatt franchise agreements.

Each hotel was constructed between 1995 and 1997 and features 126 guestrooms, except for the hotel in Georgia, which has 124 rooms.

The portfolio consists of:

Hyatt Place Atlanta Alpharetta North Point Mall, Alpharetta, Georgia
Hyatt Place Charlotte Arrowood, Charlotte, North Carolina
Hyatt Place Dallas Park Central, Dallas, Texas
Hyatt Place Greenville Haywood, Greenville, South Carolina
Hyatt Place Roanoke Airport Valley View Mall, Roanoke, Virginia
Hyatt Place Topeka, Topeka, Kansas

The hotels are located within highly desired primary and secondary submarkets with a diverse base of corporate and leisure demand drivers. In addition to each submarket’s strong corporate presence, ranging from healthcare, industrial, finance, technology and more, the properties are surrounded by a variety of retail, dining and entertainment options.

The JLL Hotels & Hospitality team representing the seller was led by Managing Director Chris Dewey, Vice President Steve Leslie and Senior Managing Director Will Sledge.

CLS Expands Third Party Management Footprint in Texas to Fort Worth with Hilmar | Investment’s Student Housing Property Located Near Texas Christian University

AUSTIN, TX – November 10, 2022 Campus Life & Style (CLS), one of the nation’s leading operators of student housing communities, announced this week it has been awarded the management of Loft Vue, a 98% occupied 147-bed property, just steps away from the Texas Christian University (TCU) campus by Hilmar Investments, a Fort Worth based real estate company.
Loft Vue offers one-, two-, four- and five-bedroom floor plan types. Each of the spacious bedrooms at Loft Vue come with stainless steel appliances, finished vinyl plank flooring, and granite countertops, fantastic community amenities including a swimming pool, H20 deck, grilling area, 24-hour fitness center, sauna, and study room. The property has undergone renovations of the common areas and has plans for exterior updates in the near future.

CLS manages a student housing portfolio consisting of over 28,000 beds inclusive of this latest assignment. The CLS team has built a best-in-class operating platform consisting of exceptionally talented personnel dedicated to providing residents with industry-leading customer service.

CLS is the only student housing management company in the U.S. to have participated in The Forbes Travel Guide’s global training platform focused on five-star hospitality and concierge services. CLS’ select third-party management offering provides clients with an unmatched level of attention, along with unsurpassed talent, knowledge, creativity, and standards of excellence.

About Campus Life & Style

Founded in 2015, Campus Life & Style is Vesper Holdings’ property management subsidiary based in Austin, Texas. As one of the largest student housing operators in the industry, CLS manages a portfolio consisting of 60 communities that total over 28,000 beds. CLS’ senior leadership team features one of the most experienced and respected line-ups of student housing professionals in the United States. CLS is helmed by industry veteran Jim Sholders. Prior to joining CLS, Mr. Sholders served as a top executive at American Campus Communities (ACC) and was responsible for the overall fiscal operations, asset management, leasing, and personnel supervision of ACC’s entire owned portfolio. For more information about Campus Life & Style, please visit www.clsliving.com.

JLL Capital Markets announced today that it has arranged the sale and financing of the Sabre Headquarters building, a 265,942-square-foot, five-story office building in Southlake, Texas.

JLL represented the seller, a joint venture between Cawley Partners, Staubach Capital and PCCP, LLC, and procured the buyer, BDP Holdings. Additionally, JLL worked on behalf of the buyer to secure the 10-year, acquisition financing through Wells Fargo & Company.

Sabre, which is a leading software and technology company in the travel industry, has occupied the property as their headquarters since 2002. The LEED®-certified building was fully renovated in 2021 and offers in-demand amenities, including a full-service cafeteria, outdoor courtyard, fitness center and structured/surface parking for more than 1,100 vehicles.

The Sabre Headquarters is located at 3150 Sabre Dr. in the top performing Westlake/Grapevine office submarket of Dallas. This submarket boasts affluent demographics with an average household income of $270,000, an educated workforce where more than 67% of residents hold a bachelor’s degree or higher and proximity to Dallas Fort Worth International Airport. Rents in the Westlake/Grapevine office market continue to climb, seeing an increase of more than 14% since 2017.

Steven Bell leased 2,239 square feet at 12655 N. Central Expressway in Dallas, TX. Justin Utay with NAI Robert Lynn represented the tenant, and Alex Houston and Richard Maloof represented the landlord, Hartman Income REIT.