Lake Washington Partners acquires industrial property in Dallas

JLL Capital Markets has closed the sale of Tradepoint 20/45, a newly-completed 418,000-square-foot industrial building in Dallas.

JLL represented the buyer, Lake Washington Partners, in the sale from Blumenfeld Development Group and Declaration Partners.

Tradepoint 20/45, which was completed in early 2022, offers 36-foot clear heights, 60-foot deep staging bays, 78 dock doors, two ramps, 124 parking spaces and 107 trailed parks.

Located at 4831 Cleveland Road Tradepoint 20/45 is positioned 13 miles from Downtown Dallas, 18 miles from Dallas Love Field Airport and 33 miles from Dallas/Fort Worth International Airport. The property has easy access to the Texas Triangle, the area between Dallas-Fort Worth, Houston and San Antonio/Austin. This allows future tenants to reach 25 million residents within a five-hour drive.

The JLL Capital Markets Investment Sales Advisory team representing the buyer was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Executive Managing Director Adam Citron, and Directors Dom Espinosa and Zach Riebe.

Sale of two Class A industrial buildings in North Fort Worth closes

JLL Capital Markets has closed the sale of Westside 35, a two-building industrial park totaling 540,324 square feet in Fort Worth, Texas.

JLL represented the seller in the sale to CBRE Investment Management. 

The recently completed industrial park is fully leased to three tenants, Gulf Relay, Mattel Sales Corp. and Texas Corrugated Box and Packaging. Westside 35 comprises two front-load warehouses with 36-foot clear heights. Building A offers 59 dock doors, two oversized doors, a 185-foot truck court, 54 trailer parking spaces and 188 auto spaces. Building B features 50 dock-high doors, two oversized doors, a 185-foot truck court, 53 trailer parking spaces and 185 auto spaces.

Located at 2555 and 2575 Downing Drive, Westside 35 is proximate to Interstates 35 and 820, essential transportation routes for local and regional distribution. The property is 10 minutes from Downtown Fort Worth, 18 minutes from Alliance Airport, 25 minutes from Dallas-Fort Worth Airport and 40 minutes from Downtown Dallas. Furthermore, the Dallas-Fort Worth Metroplex ranks as the fourth largest metro area in the country with over 7.9 million residents. The region’s low cost of living and pro-business environment has people and corporations relocating to the area, making it the No. 1 MSA for projected population growth.

The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and Analysts Matthew Barge and Jake Benalloul.

StreetLights Residential Opens The Louise in Arlington

StreetLights Residential, a Dallas-based national design-driven developer of multifamily and mixed-use communities, has completed The Louise, the second phase of the luxury multifamily community within Viridian. Located conveniently between Dallas and Fort Worth, the master-planned community spans 2,000 acres complete with access to five major lakes, trails and local shopping and event venues. StreetLights completed the project’s first phase, The Jackson, in 2021, becoming the first multifamily community within Viridian.

The Louise has 343 luxury apartment homes with studio to three-bedroom floor plans, ranging from 588 to 1,674 square feet. Interior finish out includes granite countertops, tile backsplashes, deep drawers for pots and pans, custom flooring, dine-in island seating, urban mudrooms, custom cabinetry including a pull-out trash drawer, spa-inspired bathrooms, oversized walk-in closets, energy efficient washer and dryer, conduction stovetop, and built in Sonos speakers. Select units also offer smart home features, all hard surface flooring options, oversized outdoor living spaces and screened porches.

The Louise also has 32 townhomes averaging 1,902 square feet. Townhome features include, two-story layouts with a two-car garage, powder bathroom on the first floor, walk-in pantry en suite primary bathroom with double vanity, stone countertops, custom cabinetry and stainless steel appliances and wood-style flooring.

The community’s interior common area spaces were designed to foster an inviting, comfortable environment for residents to gather, while offering a variety of interior and exterior amenities including a lounge with co-working spaces, a private resident library, a conference room, an art studio for art classes and personal projects, a full fitness center featuring high-end cardio and strength equipment, a flex room with spin bikes, fitness echelon mirror and ballet bar, outdoor lawn for yoga and exercise, golf simulator, pet park and pet spa, bike storage, a clubroom with a TV and kitchen to host gatherings and private dining spaces for intimate dinner parties. The Louise also features an expansive pool and outdoor courtyard with lounge and entertaining spaces.

Residents have access to all that Viridian has to offer, including over 500 acres of lakes, rivers, streams, and wetlands, as well as extensive jogging and hiking trails to explore, as well as proximity to DFW airport. The Louise is also located just minutes from dining and entertainment options including Texas Live!, Globe Life Park and AT&T Stadium, offering easy access for residents who want to enjoy local amenities.

StreetLights Creative Studio served as the architect of record and handled all interior design. SLR Construction, LLC, served as the general contractor.

West Fort Worth Retail Center Trades to Mazaheri Properties

JLL Capital Markets has closed the sale of The Shops at Chisholm Trail Ranch, a 213,416-square-foot retail center in Fort Worth, Texas.

JLL marketed the property on behalf of the seller, Street Level Investments, and Mazaheri Properties acquired the asset. Phillip Mazaheri with Price Edwards & Company represented the buyer.

The Shops at Chisholm Trail Ranch is a 97.5% occupied, newly constructed center currently leased to a wide range of tenants, including Studio Movie Grill, Ulta, Old Navy, Ross, Marshalls, Tuesday Morning, Five Below, Famous Footwear, Pet Supplies Plus, James Avery and Crumbl. The center benefits from 1.7 million visits annually with customers visiting an average of six times per year.

Situated at SEC Chisholm Trail Parkway and McPherson Boulevard, the property is part of Chisholm Trail Ranch, a 600-acre master-planned community located in Southwest Fort Worth. The center is 13 miles from Downtown Fort Worth, 9.4 miles from Texas Christian University and 3.1 miles from Tarleton State University. Additionally, almost 500,000 residents are within a five-mile radius of the center and earn an average income of almost $90,000. The immediate trade area has grown substantially with the opening of the Chisholm Trail Parkway toll road, and buying power is expected to increase 19% over the next five years.

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Chris Gerard and Barry Brown and Analyst Matthew Barge.

Dallas-based Investor Picks up Fort Bend County Self-storage Facility

JLL Capital Markets has completed the sale of Savannah HWY6 Self Storage, a 678-unit, recently completed self-storage facility in Rosharon, Texas.

JLL represented the seller, Quintet Capital Group, in the sale of the property to Dallas-based Montfort Capital Partners.

Completed in September 2022, Savannah HWY6 Self Storage consists of six single-story storage buildings and 900 square feet of office space. The Class A facility is 75% climate-controlled and offers drive-up units, cylinder locks, gate access and on-site management.

Savannah HWY6 Self Storage is positioned on a 6.14-acre site at 14215 Hwy 6 in Fort Bend County, which is the fastest-growing county in the U.S. The property has excellent visibility to Hwy 6, which offers visibility to more than 30,000 vehicles per day. The immediate area surrounding Savannah HWY6 Self Storage has seen rapid population growth and commercial development over the last 20 years, including 3,000 new homes to be delivered in Sienna Plantation South.

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

Colliers Mortgage Closes Fannie Mae Loan for The Edmond in Waco

Fritz Waldvogel of Colliers Mortgage’s Minneapolis office closed a Fannie Mae loan for a repeat client for the refinancing of The Edmond in Waco, Texas. The 124-unit market rate property was constructed in 1967 and includes 10 two-story garden-style buildings and two one-story maintenance/storage buildings. Community amenities include a courtyard, BBQ/picnic area, covered parking, on-site management, pool, package receiving, clothes care center, on-site maintenance, and surveillance camera system.

The loan was arranged through a partnership with Old Capital Lending and carries a 10-year term.

Fritz Waldvogel of Colliers Mortgage’s Minneapolis office closed a Fannie Mae loan for a repeat client for the refinancing of The Edmond in Waco, Texas. The 124-unit market rate property was constructed in 1967 and includes 10 two-story garden-style buildings and two one-story maintenance/storage buildings. Community amenities include a courtyard, BBQ/picnic area, covered parking, on-site management, pool, package receiving, clothes care center, on-site maintenance, and surveillance camera system.

The loan was arranged through a partnership with Old Capital Lending and carries a 10-year term.