CBRE National Partners announced the sale of TCC Altamoore, a Class A+ industrial park located at 9280, 9186 and 9190 Van Horn Drive in Dallas. KKR purchased the 387,838-square-foot three-building asset from Trammell Crow Company for an undisclosed price. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller.

Built in 2021, Building 1 (298,168 square feet) and Building 2 (206,917 square feet) have both been fully leased by large, publicly traded companies. Building 3 (110,960 square feet) is still being marketed to prospective tenants. TCC Altamoore has close proximity to vital transportation arteries across the metroplex and is located less than two miles from I-20 and approximately four miles from I-35E and I-45.

According to CBRE’s Q1 2022 Industrial MarketView, there were 7.7 million square feet of new industrial product delivered in Q1, raising the overall vacancy rate to 4.8%. The construction pipeline set new records with the 57.3 million square feet of product under construction, which should alleviate tight vacancy rates across the metroplex.

DALLAS–(BUSINESS WIRE)–CBRE Group announced the opening of a flexible, high-tech office in Richardson, Texas, designed to enable hybrid work and create a seamless experience for in-office and remote participants. The 131,000-sq.-ft. office at Galatyn Commons houses the company’s Dallas-based Digital & Technology, Finance, People (Human Resources) and Supply Chain/Procurement staff.

The new office is part of the company’s future-focused approach to workplace strategy, called Workplace360. Throughout the office, the company is testing various collaboration technologies to enable hybrid work, including:

A camera view called “smart gallery” that follows a speaker as they move around the room and gives each in-room participant a meeting profile to allow remote attendees to engage as if they had a seat at the table.
Touchscreens that promote next-level, mixed-presence collaboration, inviting in-person and remote colleagues to annotate and whiteboard together.
Touch-free video conferencing that allows employees to control presentations using voice activation or personal mobile devices to promote health and wellness. Click to read more at www.businesswire.com.

Across the state of Texas, a revolution is underway. The traditional malls that Gen X and older millennials spent their teenage years wandering are transforming. In Sherman, an undisclosed buyer plans to redevelop Midway Mall into a mixed-use property. The Collin Creek Mall in Plano was demolished, soon to be replaced by the $1 billion, 100-acre, mixed-use Collin Creek development.

At Dallas’s Shops at RedBird, construction has been underway for the past four years, converting what was the dying Red Bird Mall (renamed the Southwest Center Mall) into a thriving destination at the intersection of U.S. Highway 67 and Interstate 20.

“We’ve actually been working on it for about six years now,” shares Terrence Maiden, CEO and Managing Partner for Russell Glen, a real estate development and investment company based in Dallas. “The first couple of years involved dozens of community meetings and working on our design strategy.”

Those community meetings allowed Russell Glen’s team to get to know what the neighbors of the $210 million, 95-acre project were looking for in order to incorporate that into the property’s future. Click to read more at www.rednews.com.

Granite Redevelopment Properties, LP has enlisted The Solar Company to complete the largest multifamily solar panel installation project in the U.S. to date. At 16 of Granite’s apartment communities in Dallas and Tarrant counties, the company is installing solar panels to generate electricity and offset energy costs at its Class-B and C communities, comprising more than 3,600 units. Additionally, solar carports – parking spots with solar panel roofs – at nine properties will provide protection from the elements for 2,000 parking spaces while generating power.

The Solar Company designed and installed the 15-megawatt, 40,000-panel system to maximize sun exposure, allowing the apartment communities to meet their energy needs as well as protecting costs associated with Texas’ rapidly-rising utility rates. Expected project completion is July 2022.

“Granite is setting a trend for owners of Class B and C apartments – and potentially the entire multifamily industry. By removing one of the biggest expenses for many landlords with rooftop solar panels and solar carports, the math is hard to argue with,” said Travis Wildeman, CEO of The Solar Company.

By partnering with The Solar Company, Granite is able to take full advantage of federal tax credits and additional incentives available to them. The exact terms of the deal are undisclosed.