Category: News

Sale of a newly constructed, Class A industrial facility closes in South Dallas

Posted on by Mia Goulart

JLL Capital Markets represented the seller in the sale of Southfield Park 35 – Building 5, an industrial facility totaling 489,310 square feet in DeSoto, Texas. The property, developed by Seefried Industrial Properties and Affinius Capital, was delivered in September 2022.

Situated on 33.91 acres, the best-in-class asset features 40-foot heights, 185-foot truck court depths, 117 dock doors and 144 trailer parking spaces with the ability to create an additional 50 trailer parks.

Strategically located in the South Dallas industrial submarket, the property benefits from access to many of the major population centers in Dallas-Fort Worth. The facility is located 1.2 miles from I-20 and 2.3 miles from I-35E, which serve as major local, regional and national arteries for logistics and transportation across markets.

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Trent Agnew, Directors Tom Weber and Pauli Kerr, Senior Director Parker McCormack, Associate Matthew Barge and Analyst Keenan Ryan.

$28 million refinancing secured for a newly built senior living community in Spring

Posted on by Mia Goulart

JLL Capital Markets arranged a $28 million senior mortgage for The Landing at Augusta Woods, a 148-unit senior housing community in Spring, Texas.

JLL represented Harmony Communities to secure the four-year, fixed to floating rate loan from a Life Insurance Company to refinance an existing construction loan and fund additional expansion of the community.

The community is comprised of a 120-unit apartment-style complex that provides independent living, assisted living and memory care, and 28 to-be-built independent living duplex-style cottage units. The luxurious country club style facility is designed to immerse residents into an engaging community with resort-style amenities and best-in-class care services.

Spring, Texas is located just outside of The Woodlands, which is one of the nation’s premier master planned communities. It offers a unique blend of an urban neighborhood with suburban conveniences, which include prestigious residential communities and amenities. Situated on 28,000 acres, The Woodlands is located just 27 miles from the Houston CBD and 15 minutes to the north of the George Bush Intercontinental Airport.

Over the last two decades, there has been a remarkable transformation in Houston, the nation’s fourth-largest city. Houston has one of the youngest, fastest growing and most diverse populations anywhere in the world. From 2010 to 2018, Houston added 1.1 million residents, an 18.3% increase, the fastest rate of population growth among the 10 most populous U.S. metros.

The JLL Capital Markets Debt Advisory team was led by Senior Director Zane Sweet, Director Alanna Ellis and, Analysts Zach Brantley and Kyle White.

CBRE arranges sale of prime retail development on West 6th Street in Austin

Posted on by Mia Goulart

CBRE has announced the sale of West Side Village, a two-story, 51,392-square-foot retail development located along West 6th Street in the Clarksville neighborhood of Austin, Texas, just minutes from downtown. Riverside, an Austin-based real estate investment firm, acquired the property.

CBRE’s Bradley Bailey and Logan Reichle represented the seller, a joint venture between Stonelake Capital Partners and Schlosser Development. Terms of the deal were not disclosed.

Located at 1214 & 1312 West 6th St., the 51,392-square-foot mixed-use building is currently vacant and was constructed in 1951. Sitting on 1.75 acres, the previous owners had plans to build a 100,000-square-foot bespoke office building with ground-floor retail on the site before ultimately selling.

Located just down the street from West Side Village is Riverside’s latest project, Sixth&Blanco, designed by Herzog de Meuron. The five-story mixed-use development will include fine modern retail and restaurant space, a bespoke hotel with pool, bathhouse and spa, and ten luxury homes. Over the last three decades, Riverside has contributed to Austin’s reputation for technology, innovation, and its active urban lifestyle, through a portfolio of standout properties that have set new standards for performance throughout the region.

SVN | J. Beard Real Estate – Greater Houston facilitates sale of mixed-use office retail center in Magnolia

Posted on by Mia Goulart

SVN | J. Beard Real Estate – Greater Houston has recently facilitated the sale of a mixed-use office retail center in Magnolia, Texas. The three buildings comprise a total of +/- 15,000 square feet and are situated at 30643 FM 2978 in Magnolia, Texas, near the intersection of Woodlands Parkway. The location has great visibility and frontage on the major thoroughfare of FM 2978. The upscale center boasts clean lines, modern finishes, and spacious floorplans in each unit.

Advisor Linda Crumley of SVN | J. Beard Real Estate – Greater Houston represented the seller, Lamerie 2978, LLC. Luís Tamborrel of Keller Williams Realty, Tamborrel Group, represented the buyer, BLXCK Investments Corporation.

Financing secured for Dallas life sciences/lab redevelopment project

Posted on by Mia Goulart

JLL Capital Markets has arranged financing for the redevelopment of Bridge Labs at Pegasus Park, a 135,000-square-foot life sciences/lab facility in Dallas, Texas.

JLL worked on behalf of the borrower, Montgomery Street Partners, J. Small Investments and an affiliate of Lyda Hill Philanthropies, to secure a five-year construction loan through InterBank. Additionally, JLL placed C-PACE financing with Nuveen Green Capital to complete the capital requirements for the redevelopment.

Formerly a call center, Bridge Labs is a two-story building that will be converted and expanded into a lab/R&D facility by Q3 2024, including pre-built lab spec suites and centralized lab services/amenities. This represents the first life sciences development or conversion transaction in the Dallas market and will address the urgent need for lab space in Dallas Fort Worth. Bridge Labs at Pegasus Park is already 30% pre-leased.

The property is located within Pegasus Park, Dallas’ first true biotech and life sciences campus positioned between Dallas’ Design District and the Southwestern Medical District. The campus is highly amenitized, offering tenants access to a brewery with arestaurant, and taproom, full service on-site conference center and catering, grab-and-go options, a fitness center, outdoor firepits and an indoor/outdoor lounge. The park is home to several existing academic anchors, including UT Southwestern and SMU, as well as BioLab’s first non-coastal location. Additionally, the Advanced Research Projects Agency for Health (ARPA-H) announced the launch of ARPANET-H, a national health innovation network anchored by three regional hubs. As part of the $2.5 billion initiative, the Customer Experience hub will be physically located at Pegasus Park and focus on patient access and diversity for the agency’s projects. While the other two hubs will be located in Cambridge, Massachusetts, and Washington D.C., selection of Texas firmly cements the region as an emerging life sciences market.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Jim Curtin and Senior Director Andrew Gray. Jason Piering, formerly with JLL and now with Hamilton Partners team was also part of the financing team.

Lee & Associates Houston earns prestigious REDNews award

Posted on by Mia Goulart

Lee & Associates – Houston Senior Property Manager Lizette Negrin has been honored with the 2023 REDnews Property Manager of the Year award. This esteemed accolade is a testament to Lizette’s exceptional skills, dedication, and outstanding contributions to the Houston real estate industry.

“As a senior property manager at Lee & Associates – Houston, Negrin has demonstrated exceptional leadership and a deep understanding of the industry,” said Senior Managing Director Shawn Harvey. “Her ability to effectively manage complex projects, resolve issues, and foster strong relationships with clients and tenants has been instrumental in her success.”

“I am truly honored to receive the 2023 REDnews Property Manager of the Year award,” said Negrin. “This recognition calls out the hard work and dedication of our entire team at Lee & Associates – Houston. I am grateful for the opportunity to work with such talented professionals and for the trust our clients have placed in us.”