CBRE arranges sale of Cooper Street Plaza in Arlington

CBRE announces the sale of Cooper Street Plaza, a 91,856-square-foot shopping center located at 4619-4623 Cooper Street in Arlington, Texas. Vista Property Company purchased the property from a Texas based real estate investment trust.

Jared Aubrey and Michael Austry represented the seller in the marketing and sale of the property.

Located along I-20 in the middle of a dominant retail corridor in Arlington, the shopping center was 97.5% occupied at the time of sale. The center garnered significant investor interest due to its high-visibility, long-term triple net leases and below market rents. The center is anchored by K&G Mens Company and Office Max and features other prominent tenants including Black Rifle Coffee Company, UPS, State Farm Insurance and Ninja Sushi. 

Moroch Partners relocates into new 24,000-square-foot office HQ in Dallas Design District

Transwestern Real Estate Services (TRS) and Quadrant Investment Properties (QIP) announce Moroch Partners, a Dallas-based full-service, independent marketing and communications agency, has signed a new, long-term 23,365-square-foot office lease at the Manufacturing District (MD), located at 147 Manufacturing St. The firm relocates from Hall Street at The Centrum and plans to move its employees into its new offices in 2024. Transwestern’s Paul Wittorf, Kim Brooks, Laney Delin and Collin Burwinkel represented QIP in lease negotiations. Jihane Boury and Clay Vaughn with Savills represented Moroch Partners.

Moroch Partners is a leading full-service, independent marketing and communications agency based in Dallas, with a presence in over 30 markets across North America. Moroch clients include McDonald’s, Planet Fitness, Six Flags Entertainment Corporation, Altitude Trampoline Park, Disney, Sony, Universal, Make-A-Wish Foundation and Midas, among others.

Moroch joins other tenants on-site at MD, including Alto, Smart Business Concepts and Kirksey. In June, Pennsylvania-based 84 Lumber, the nation’s largest privately held supplier of building materials, signed a 4,933-square-foot lease for its new western office headquarters. With the recent leases, MD is now more than 80% leased.

With tenant amenities such as a shared rooftop lounge featuring unobstructed panoramic views of downtown Dallas, Triumph’s Espresso & Whiskey, a pedestrian path that was re-envisioned from an abandoned rail spur, and The Grove, a shared outdoor community lounge with casual seating, lush landscaping and 6G Wi-Fi, amenities on-site at MD were carefully designed to create opportunities for tenants to work, socialize and enjoy outside of their office environments.

According to Transwestern research, the Design District has seen nearly $1 billion in private investment over the last 15 years. With top-tier local and out-of-market restaurants and new retail concepts recently announced, the area is one of Dallas-Fort Worth’s most widely sought-after locations.

For more images of the Manufacturing District, click here.

Nuveen Green Capital closes largest C-PACE deal in San Antonio

Nuveen Green Capital, a leader in sustainable commercial real estate financing solutions, and the Texas PACE Authority, the administrator of 92 PACE programs in Texas, along with CBRE, the global leader in commercial real estate services and investments, announced the closing of the Curio Collection by Hilton Hotel in San Antonio, Texas. This closing marks Texas’ largest C-PACE (Commercial Property Assessed Clean Energy) transaction to date.

C-PACE is a creative financing mechanism that provides commercial property owners and developers access to low-cost, long-term, fixed-rate financing for energy efficiency, water conservation, renewable energy, and resiliency commercial real estate projects.

Located in downtown San Antonio’s Hemisfair District, the Curio Collection by Hilton Hotel is situated on roughly 1.5 acres near the intersection of South Alamo and Market streets. The ground-up development of this 17-story, luxury, full-service hotel will feature 200 guest rooms, ballroom and meeting spaces, a signature restaurant and bar, café, a rooftop bar, an underground speakeasy bar, terrace pool with cabanas, a full-service spa, a fitness center, ground floor retail space and a public garden. When complete, this hotel is slated to be the most luxurious in the area as the city continues its economic revival. Overland Partners Architects designed the full-service property, which will be owned and operated by Zachry Hospitality as a Curio Collection by Hilton.

The C-PACE proceeds will fund key sustainability measures including envelope, lighting, and plumbing.

The Texas PACE Authority administers Texas’ PACE statute by taking a market-based approach to energy finance and economic development by facilitating energy and water improvements that are both economically sound and environmentally friendly. The Texas PACE Act was passed by the Texas Legislature in 2013 and The Texas PACE Authority has facilitated $450 million in PACE financing throughout Texas.

Construction of the 200-room hotel is expected to begin this fall with a target to open its doors to guests in late 2025.

StreetLights Residential breaks ground on The Galatyn

Dallas-based StreetLights Residential has commenced construction on The Galatyn, a 20-story high-rise community featuring 56 penthouse-style apartment homes. Situated in the Upper McKinney District, where Harvard Avenue meets Highland Park, it stands across McKinney Avenue from its sister residential building, The McKenzie. Located on the quieter side of nearby Knox Street, The Galatyn is in close proximity to numerous dining and retail establishments, including the upcoming Tres Market specialty grocery store, and is just one block from the Katy Trail. The Galatyn is slated to open in 2025.

The Galatyn will offer two- and three-bedroom residences, averaging 2,700 square feet, with penthouse suites over 4,500 square feet. Building upon the success of The McKenzie, The Galatyn will offer spacious unit floor plans, with only three units per floor and two units on the penthouse level. Residence living spaces will include a formal entry with an attached powder room and an open kitchen with designer appliances, a waterfall island, and a bar. Private service kitchens will contain a second fridge, sink, and dishwasher. Primary suites will feature dual closets and a spa-grade bathroom with a freestanding bath and a walk-in rainfall shower. The interiors will showcase top-tier finishes, including natural wood flooring and quartzite countertops throughout, as well as floor-to-ceiling windows in the living areas.

Residents will have access to luxurious amenities, a full-service concierge bar, a variety of workspaces within private nooks or communal settings, and a resident coffee bar. A courtyard with a stunning community conservatory for tranquil relaxation, along with a fireplace, will overlook an exterior colonnade with lounge seating and pool views. As you explore, an expansive sunroom will await with antique fixtures and grand arched windows. Additional on-site resources will include a dog wash for dogs of all sizes with relief areas conveniently located on each residential floor. The property’s fitness center will feature a breakout flex room and an infrared sauna, as well as a year-round pool with a fully equipped catering kitchen, ideal for entertaining guests.

StreetLights Creative Studio is the architect of record for the project and is handling all interior design in-house. SLR Construction, LLC, is the general contractor.

Firehouse Subs to open new restaurant in Saginaw

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

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.