EastGroup Properties begins construction on Phase II of Basswood 35

EastGroup Properties has begun construction on the second phase of Basswood 35, a Class A industrial development in Fort Worth. Located at Basswood Boulevard and I-35 W, Phase II will consist of three buildings totaling over 351,000 square feet. The 61.45-acre, master planned development will consist of seven buildings totaling 882,000 square feet at full build out. NAI Robert Lynn Managing Principal and Fort Worth President Todd Hubbard, Principal and Executive Vice President Michael Newsome, Executive Vice President Jeff Jackson, and Transaction Manager Joe McLiney will represent EastGroup in the leasing of this project.

Phase I, two buildings totaling 237,400 square feet, was 100% pre-leased to four tenants prior to shell delivery.

Located in the North Fort Worth industrial submarket, Basswood 35 Phase II includes three new buildings measuring 89,741, 130,750 and 130,750 square feet. The buildings flexible design includes rear load and front load configurations, with multiple store front entries to accommodate users ranging from approximately 20,000 to 130,000 square feet. On the remaining land in the industrial park, EastGroup plans to construct a 96,000-square-foot rear load and 197,400-square-foot cross dock building as part of its third phase.

Method Architects will handle design, Talley Riggins will serve as general contractor, and civil engineering will be handled by Halff. Construction is scheduled to be completed by end of Q4 of 2023.

The NRP Group breaks ground on mixed-income apartment community in Dallas-Fort Worth

The NRP Group, a vertically integrated, award-winning developer, builder and manager of multifamily housing, has officially broken ground on Ascent at Mountain Creek, a 324-unit mixed-income multifamily community located just 15 minutes outside of Downtown Dallas. Fifty percent of the units will be reserved for individuals and families earning 80% or less than the Area Median Income.

Located at 4868 S. Merrifield Road, Ascent at Mountain Creek will comprise 14 three-story, wood-frame residential buildings offering a mix of one-, two- and three-bedroom apartments. As a result of the increased resident demand for larger units to accommodate growing work-from-home preferences, den floor plans for one- and two-bedroom units will also be available. In-unit features will include quartz countertops, backlit mirrors, stainless steel appliances and walk-in closets. Community amenities will include a resort-style pool, dog park, fitness center and resident lounge that can double as workspace for remote workers. 

Located at the intersection of Highway 408 and 1-20, Ascent at Mountain Creek will offer residents easy access to bustling downtown Dallas and is in close proximity to ample retail and dining options. The community is also surrounded by rolling hills, lush forests, and hiking trails, a rarity in the Dallas-Fort Worth market, with Mountain Creek Lake less than 10 miles away. Residents will also be a 10-minute drive from a variety of healthcare, grocery, retail, and recreational offerings, including Methodist Charlton Medical Center, Target, Home Depot, Epic Waters Waterpark, Grand Oaks Golf Club, and more.

Within Ascent at Mountain Creek’s immediate vicinity is a host of employment opportunities for working professionals. Mountain Creek Business Park, a 450-acre industrial park, is home to a wide range of reputable companies, including Nestle, Ulta Beauty, and Chewy, among others. The community is also a short distance away from Dallas Baptist University, complete with 4,480 enrolled students and 132 full-time employees. 

Early lease-up of the community is expected to occur in October 2023, with a completion date slated for September 2024.

Versal announces sale of Mack Road Shops & Storage in Amarillo

Versal announces the sale of Mack Road Shops & Storage in Amarillo, Texas. The property has 72 units and 12 parking spots, totaling 36,000 NRSF.

Bill Bellomy, Michael Johnson, Logan Foster, and Hugh Horne or Versal represented Second Generation Properties LLC, the The team also procured the Valle de Oro, Texas based buyers, Kent and Ramy Jisha.

Versal is an Austin and Los Angeles based commercial real estate firm with a team exclusively focused on the self-storage industry.

Partners Real Estate brokers sale of 5.9 acres of land next to Austin Bergstrom International Airport

Partners arranged the sale of 5.9 acres of land located at 8208 Burleson Road and 4611 Norwood Lane in Austin.

Partners’ Todd Mahler represented the seller WilJam Holdings, LLC in the transaction.

Partners Real Estate arranges 1,680-square-foot retail lease in Austin

Partners Real Estate, one of the largest independent commercial real estate firms in Texas, arranged a 1,680-square-foot retail lease with Sports Clips located at 8300 North FM 620 in Austin.

Partners’  Kevin Murphy represented the landlord, Partners’ Capital Group in the transaction.

Partners Real Estate arranges lease with UPS Supply Chain Solutions in Schertz

Partners Real Estate arranged a 175,562-square-foot lease with UPS Supply Chain Solutions at Enterprise Industrial Park Building VII located at 17455 Lookout Road in Schertz.

Partners’ John Colglazier, Carlos Marquez and Kyle Kennan represented the landlord, BentallGreenOak in the transaction.