Property consists of four Class-A buildings totaling more than 126,000 square feet

Stream Realty Partners (Stream) – a national commercial real estate services, development and investment firm, announces the sale of the Jupiter Service Center, a four-building flex office/R&D portfolio consisting of 126,485 square feet in Plano. 

Jupiter Service Center offers varied product types, and a diverse range of suite sizes. Located on nine acres in east Plano at the intersection of Jupiter Road and 10th Street in the Plano Industrial Submarket, the properties are less than a mile north of the President George Bush Turnpike, providing excellent infrastructure access.

Stream’s Investment Sales team of Jamie Jennings, managing director and James Mantzuranis, vice president and leasing brokers, Matt Dornak, vice president; and Ryan Wolcott, vice president; represented the seller, Situs, in the disposition.  The purchaser in the transaction was Kennington Property Company.

“These properties offer the buyer the opportunity to build its portfolio with more assets in one of the most sought-after, growing segments in Dallas-Fort Worth,” said Jamie Jennings of Stream. “The Plano/Richardson submarket ended the fourth quarter of 2016 with an overall vacancy rate of 6.2 percent.”

Ranked as the 5th largest Industrial Market nationally, the Industrial Real Estate Market in Dallas/Fort Worth is extremely healthy, boasting a current vacancy rate of approximately 6.5 percent. the D/FW Office Market has posted strong positive net absorption over the past five years, with 2.77 Million square feet absorbed as of 4Q 2016.

 About Stream Realty Partners

Stream is a commercial real estate firm with locations across the country. The company’s full-service offerings cover the broad spectrum of leasing, management, development, construction, and investment sales services across the commercial real estate industry. In addition, Stream specializes in sourcing acquisition and development opportunities for the firm and its clients. Since its formation in 1996, Stream has grown from its two original partners to a staff of more than 750 real estate professionals nationwide, with regional offices in Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Fort Worth, Houston, San Antonio, San Diego, Orange County and Washington, D.C. Stream currently has more than 130 million square feet of assignments across the nation, completes over $2.4 billion in real estate transactions annually and is considered one of the most active investors and developers in the real estate industry. Visit www.streamrealty.com.

Texas developer Robert Zamorano has unveiled plans to build a 24-story condominium tower that will bring 115 luxury homes to downtown Fort Worth, with a sales office slated to open next year.

The tower, called The Worth, will sit along North Henderson Street bound by West Bluff, Mills and West Peach streets. It will bring luxury living to downtown Fort Worth.

The Worth will have a timeless design offering a homeowner “more than they could ever imagine,” said Zamorano, founder, president and CEO of Houston-based Zamco Properties.

Click to read more at Dallas Business Journal. 

A development venture between Dallas-based Rosewood Property Co. and Houston-based Patrinely Group will soon begin construction on the initial phase of a 2.5 million-square-foot corporate magnet at Heritage Creekside in Plano, Texas.

Rosewood Property and Patrinely Group unveiled plans Oct. 24 outlining a 12-story, 343,800-square-foot office tower, called One Heritage Creekside, within Heritage Creekside’s new 72-acre mixed-use campus along the President George Bush Turnpike on the west side of Interstate 75.

In all, the mixed-use campus — which is aimed at luring a major corporate tenant — will total more than 2.5 million square feet of Class A office space, retail, luxury urban apartments, hotels and single-family homes.

Click to read more at Houston Business Journal. 

A Fort Worth-based firm overseen by real estate tycoon John Goff has acquired an Atlanta hotel located in the Georgia’s largest office submarket.

Crescent Real Estate LLC, with the help of its new investment fund, has acquired the Westin Atlanta Perimeter North, a 372-room lodging sitting on 6.25 acres in Atlanta. The site is adjacent to the 63-acre, 2.2 million-square-foot Concourse Corporate center.

The hotel includes 20,000 square feet of meeting space with an 8,000-square-foot ballroom, as well as a 24-hour business center, a fitness studio, spa and outdoor pool.

Crescent has hired HEI Hotels to manage the hotel.

Click to read more at Dallas Business Journal.