Category: News

519,905-square-foot industrial park in Fort Worth sells to Westcore

Posted on by Mia Goulart

Stream Realty Partners brokered the sale of a 519,905-square-foot industrial park in Fort Worth to a San Diego-based industrial real estate acquisition, development, and asset management firm.

Westcore purchased Railhead Business Station, a four-building campus at 401, 500, 600, and 800 Railhead Road, from a global real estate investment management firm. The project was fully leased to 11 tenants at the time of the sale. The price was undisclosed.

Stream, a national commercial real estate firm offering an integrated platform of services, represented the seller in the transaction. Seth Koschak and Matteson Hamilton, executive managing directors and partners of Stream’s Industrial Capital Markets group–along with Senior Vice President Forrest Cook, Vice President Jeff Rein, Senior Analyst Lee Belland III, Financial Analyst Trey Mahla, and Senior Production Coordinator Haili Rumsey–were involved in the sale. Westcore represented itself.

Railhead Business Station, in the highly coveted infill submarket of Meacham/Fossil Creek in North Fort Worth, is just a few miles north of the Central Business District. The multi-tenant buildings possess a roster of regional and national tenants. Additionally, the project provides immediate access to Interstates 820 and 35W and sits in an enterprise zone offering triple freeport tax abatements.

Suburban DFW retail center trades to Phillips Edison

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Lake Pointe Market, a 40,589-square-foot retail center located in the DFW suburb of Rowlett, Texas.

JLL represented the seller, Main Street Investment Company, and procured the buyer, Phillips Edison.

Lake Pointe Market benefits from its shadow anchor, Tom Thumb, which serves as the top performing location in the region. The center is currently 97% leased to a diverse tenant mix, including PetCo, DCP Equity Partners, Burger Island, OneMain Financial, Bank of America, Verizon and SuperCuts, bringing in approximately 740,000 annual visits.

Situated at 6702 Dalrock Road, the property is located at a premier intersection in Rowlett and is positioned directly between I-30 and President George Bush Turnpike. Within a three-mile radius of the property is an average household income of $125,096 and $2.1 billion in spending power, and within a five-mile radius is a population of approximately 134,836 and approximately 20 schools. Additionally, Lake Pointe Market is just 22 miles from Downtown Dallas.

The JLL Retail Capital Markets team was led by Senior Managing Directors Adam Howells and Chris Gerard and Analyst Megan Babovec.

Partners Real Estate arranges sale of 4,000-square-foot retail property in Houston

Posted on by Mia Goulart

Partners Real Estate (Partners), one of the largest independent commercial real estate firms in Texas, arranged the sale of a 4,000-square-foot retail property located at 8534 Gulf Freeway in Houston.

Partners’ Davis Amanyisye represented the seller, Jdbm Texas LLC in the transaction. The buyer was represented by Sunny K. Durrani of Realm Real Estate.

SPI adds 244-unit, Class-A property to Austin portfolio

Posted on by Mia Goulart

SPI Advisory (SPI) recently finalized the acquisition of Parkview Terraces (formerly known as “Cortland Southpark Terraces”), a newly-renovated 244-unit, Class-A institutional-quality apartment community built in 2009 less than five miles from Austin’s bustling South Congress entertainment district along the rapidly growing IH-35 Corridor that connects Austin and San Antonio. Parkview Terraces represents SPI’s eighth property under management in the Austin metropolitan area, totaling nearly 2,500 units.

Conveniently located 15 minutes away from Downtown Austin, just off of IH-35 near the popular Southpark Meadows shopping center, Parkview Terraces offers its tenants spacious floorplans with contemporary design, resort-class amenities, and proximity to Austin’s major employment, retail & entertainment centers for an affordable price point. The area within a one-mile radius of the property has experienced a population growth of 91% from 2010 to 2022, and the average household income is $104,000. (U.S. Census Bureau, April 2023).

Lovett Industrial and PCCP acquire two industrial business parks in Houston

Posted on by Mia Goulart

Lovett Industrial, the Houston-based real estate investment firm and PCCP, LLC, a national commercial real estate investment firm have acquired the Claymoore Portfolio, consisting of 1,390,900 square feet across 10 Class A industrial buildings in Houston’s NW submarket.

The Claymoore Portfolio, comprised of Claymoore Business Park and Northwest Business Park, features highly functional warehouses that provide a diverse range of site plans and suite sizes ranging from 12,000 to 275,000 square feet. Located on Clay Road and Beltway 8, Claymoore Business Park features eight cross-dock and front-load buildings totaling 1,019,000 square feet, 18- to 24-foot clear heights, and 960 parking spaces. Situated on West by Northwest Boulevard and Highway 290, Northwest Business Park features one cross-dock and one front-load building totaling 378,900 square feet, 24-foot clear heights, and 746 parking spaces. The portfolio is 100% occupied by 21 tenants that have a weighted average tenure of over 11 years.

The business parks’ core, infill locations allow for immediate access to Beltway 8 and Highway 290 and close proximity to Interstate 10, providing occupants the ability to service some of the metro’s most densely populated and affluent areas. The portfolio represents a unique opportunity for scale in the heart of the largest and most established industrial submarket in Houston.

Marketing and leasing efforts for the portfolio will be exclusively handled by Brian Gammill, Jude Filippone, and Darryl Noon of Transwestern. Trent Agnew of JLL served as broker on the transaction. Acquisition financing is provided by Voya Financial and was arranged by Michael Johnson and Wally Reid of JLL.

The Claymoore Portfolio is Lovett Industrial’s second stabilized property acquisition and will be managed by Lovett Industrial Management. Additionally in the Houston area, Lovett Industrial has 3.2 million square feet under construction and 3.3 million square feet of completed developments between seven projects.

DFW power retail center switches hands to Dunhill Partners

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Rockwall Market Center, a 211,971-square-foot retail center located in the DFW suburb of Rockwall, Texas.

JLL marketed the property and assisted in the sale to Dunhill Partners, led by its CEO Bill Hutchinson.

Built in 1999, Rockwall Market Center is 100% leased to a robust, high-performing, national tenant roster, which includes Ross, Burkes Outlet, Michaels, Old Navy and Petco. The property features an average tenant tenure of 18.2 years, and 82% of the property’s income stream is generated from its national tenancy. The property draws over 1.5 million annual visitors.

Located at 2663-2885 Market Center Drive within a dominant retail corridor, the property sits directly off of Interstate 30, offering visibility to over 103,000 vehicles per day. Rockwall Market Center benefits from proximity to both Lake Ray Hubbard and Highland Meadows neighborhood and is less than a 20-minute drive to Downtown Dallas. Additionally, within a 10-mile radius is a daytime population of 317,271 and $17 billion in consumer spending power.

The JLL Retail Capital Markets team was led by Senior Managing Directors Adam Howells and Ryan Shore and Analyst Megan Babovec.