Category: News

Firehouse Subs to open new restaurant in Saginaw

Posted on by Mia Goulart

The Woodmont Company is delighted to announce the execution of a lease for Firehouse Subs that will establish its presence in Saginaw, Texas. The forthcoming 1,300-square-foot Firehouse Subs restaurant location will find its home at 1017 N. Saginaw Blvd., Saginaw, Texas.

Firehouse Subs is a well-established name in the quick-service restaurant sector with over 1,200 locations nationwide and is celebrated for its hearty delectable subs. Grounded in a commitment to top-quality ingredients and exceptional service, Firehouse Subs has earned the loyalty of a dedicated customer base.

While the specific opening date for this new Firehouse Subs location in Saginaw, Texas, is yet to be determined, the local community is already abuzz with anticipation.

The Woodmont Company takes pride in its instrumental role in bringing Firehouse Subs to Saginaw, Texas, and eagerly anticipates the brand’s continued growth and success in the area. Kendall Graff, assistant vice president, and Grant Gary, president, of The Woodmont Company, acted as tenant representatives, collaborating with Barrett England, vice president at Vision Commercial Real Estate, who represented the landlord.

Nova Capital secures $55.85 million in financing for apartment acquisition In Weatherford

Posted on by Mia Goulart

Nova Capital, a Los Angeles-based real estate capital advisory firm, has secured a combined $55.85 million in financing on behalf of Darwin German Real Estate, a full service real estate investment firm that specializes in multifamily investments, for the acquisition of The Mark at Weatherford Apartments, a 355-unit Class A multifamily property in Weatherford, Texas.

The financing, arranged by Nova Capital Managing Director and Founder Steven Yazdani, comprises a $37.85 million Fannie Mae senior loan from Walker & Dunlop and $18 million in preferred equity from Tryperion Holdings.

“Despite the headlines, appetite from capital providers for high-quality multifamily product remains strong, especially in high-growth markets such as Dallas-Fort Worth,” said Yazdani. ”The DFW metroplex is leading the nation in job growth with 650,000 new jobs added in 2023.

Built in 2021, The Mark at Weatherford is 94% occupied and is situated on an 11.50-acre parcel adjacent to Weatherford College. Located at 172 College Park, the apartment community offers a mix of one-, two-, and three-bedroom floor plans with a host of modern amenities, including community barbeque/picnic areas, resort-style pool, business center, dog park and fitness center.

Sale of newly built multi-housing community in Houston MSA closes

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of and arranged the financing for The Wildwood Apartments, a 300-unit, newly developed, institutional, Class A multi-housing community located in the Houston suburb of Richmond, Texas.

JLL represented the seller, Allen Harrison Company, and Price Realty Corporation acquired the asset. JLL also worked on behalf of the new owner to secure the seven-year loan through New York Life Real Estate Investors.

Built in 2022, The Wildwood features one- and two-bedroom units with wood-style flooring, open-concept floorplans, stainless steel appliances, natural stone countertops, private yard and patios and spacious closets. Community amenities include a conservatory, dog parks with observation pavilion, private attached and detached garages and carports, gated entry, secure package lockers and package room, a club house with library and kitchen, a resort-style swimming pool and a 24-hour fitness center. The Wildwood is located within the highly amenitized Veranda master-planned community, which provides residents access to a yoga lawn, playgrounds and hike and bike trails.

Situated 24500 Wildwood Park Road, The Wildwood provides easy access to both Highway 59 and the Grand Parkway, allowing residents efficient connectivity to the rest of the Houston MSA. This includes many employment hubs, medical resources and entertainment/dining establishments throughout Katy, Sugar Land and Richmond. Richmond’s prime location is just 30 miles from Downtown Houston. OakBend Medical Center and UT Health, as well as Brazos Town Center North and South are located within one mile of the property.

The JLL Capital Markets Investment Sales Advisory team is led by Managing Director Dustin Selzer. Senior Managing Director John Brownlee led the JLL Capital Markets debt advisory team.

Newmark secures joint venture equity placement for 173,680-square-foot industrial project in Irving

Posted on by Mia Goulart

Newmark has secured the joint venture equity placement for the development of TriStar Business Park, a two-building, 173,680-square-foot industrial project located in Irving, Texas. The project is expected to deliver in Q4 2024.

Newmark Capital Markets Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa and Managing Director Zach Riebe arranged the joint venture between the investor, MBK Industrial Properties, and the sponsor, Hopewell Development.

Building 1, located at 7815 Jetstar Drive, will comprise 69,160 square feet; Building 2, located at 7810 Jetstar Drive, will total 104,520 square feet, divisible down to 52,000 square feet. The buildings will feature 32-foot clear heights, ESFR sprinkler systems, 100+ parking stalls, eight dock-high doors, grade-level doors with ramps and 130- to 140.5-foot truck courts.

Situated at the corner of HWY 114 and Jetstar Drive, the project is within close proximity of the Dallas/Fort Worth International Airport and the Dallas Central Business District. Neighboring warehouse tenants include Honda, Subaru, Coca-Cola, Samsung, Canon and Boeing, among many others.

CBRE arranges sale of office showroom across from Globe Life Field in Arlington

Posted on by Mia Goulart

CBRE announced the sale of Stadium Drive, a 68,485-square-foot two-building office showroom project located at 801-803 Stadium Drive in Arlington, Texas.

Thurston Witt and Johnny Dunn with CBRE arranged the transaction on behalf of the seller, DSW Stadium Properties, LP, to an undisclosed buyer.

Ideally located across from Globe Life Field in the middle of Arlington, the property is well positioned for a vertical redevelopment with flexible Entertainment District Overlay zoning. The property is in the middle of Arlington’s entertainment corridor with two professional sports teams stadium (AT&T Stadium for the Dallas Cowboys and Globe Life Field for the Texas Rangers), two Six Flags theme parks, Texas Live!, and several restaurants, shopping centers, museums and entertainment venues.

Portside Logistics Center in Houston complete

Posted on by Mia Goulart

Stream Realty Partners has completed Portside Logistics Center, a one-million-square-foot industrial project in the highly sought-after Southeast Houston (Port) industrial submarket.

The national commercial real estate firm offering an integrated platform of services developed the Class AA, two-building industrial project in a joint venture with Principal Asset Management. Immediate occupancy is now available for users from 122,971 square feet to over one million square feet.

Portside Logistics Center is located at 4838 and 4908 Borusan Road in Baytown, Texas. The speculative industrial development offers immediate access to Grand Parkway (State Highway 99), Interstate 10, Highway 225, and Highway 146, allowing expedited access to Port Houston’s two container terminals–Barbour’s Cut and Bayport.

Portside Logistics Center offers multiple configurations with an expandable 760,000 square-foot cross-dock building and a flexible 260,000-square-foot front-load building which will offer a 40-foot clear height and 36-foot clear height, respectively. Both buildings were developed to the highest standards, featuring speculative office space, LED warehouse lights, a white-boxed interior warehouse, and fully fenced and secured truck courts. The project is seeking LEED certification.

The project broke ground in Q3 2022. Corporate neighbors include Ikea, Walmart, The Home Depot, Niagara Bottling, and Floor & Decor. Kyle Fletcher assisted in the development management of Portside. Robinson, Senior Director Tyler Wellborn, and Director Craig McKenna provided oversight on the ground-up development of the facility. Tyler Maner and Jeremy Lumbreras will serve as leasing agents for the project.