Simple Solar, LLC leased 3,789 square feet at 1001 S. Dairy Ashford in Houston, TX. Ashley Casterlin with Davis Commercial represented the tenant and Kacie Skeen represented the landlord, Hartman Income REIT.
Category: Deals & Announcements
Plano Mall Transformation Begins Construction to See New Life as Hip Mixed-Use Destination
Triten Real Estate Partners celebrates the grounbreaking of Assembly Park, a modern, outdoor-friendly, mixed-use environment in East Plano
Dallas, Texas | April 14, 2022– The creation of the “Gateway to Plano” and the continuation of the City of Plano’s Envision Oak Point plan is spearheaded today as Triten Real Estate Partners officially break ground and start the transformation of the dated Market Square Mall, located in East Plano, into the highly anticipated Assembly Park.
Triten, known for their large-scale, adaptive reuse, and mixed-use projects in Houston and Dallas, purchased the property in January 2021 after a lengthy selection process. It was integral to the City of Plano and the original owner to sell to a group that planned to enhance and revitalize the area and become a part of the existing community. The strategy behind Triten’s reimagination at Assembly Park is to create a vibrant, mixed-use destination centered around collaboration and living a healthy lifestyle. The existing site will be transformed into 180,000 square feet of Class A creative office space, 16,500 square feet of retail and dining space, and over 300 lofty flats and townhomes, all surrounding a large, newly planted central park consisting of event space, kid-friendly play areas, and a dedicated dog park. The property’s location near I-75 and proximity to Legacy Central is ideal for large corporations and employers. The surrounding dense residential areas neighboring the property make Assembly Park the next destination of entertainment for the community.
“Triten is excited to deliver a thoughtfully designed, integrated, walkable and vibrant destination for our office users, residents and the community,” says John Hardaway, partner at Triten Real Estate Partners. “Whether you work, dine, exercise, visit or live there, Assembly Park offers something for you. We believe this convergence of activity and green space will appeal to a diverse range of residents and employers who value all the intangibles that Assembly Park offers.”
Assembly Park’s mixed-use nature appeals to companies looking for a home with unique workspaces, on-site amenities, and lifestyle-driven events hosted at the property’s central park. The creative office portion of Assembly Park, designed by Agent Architecture and Michael Hsu Office of Architecture, is the portion of the project reimagined from the existing mall structure. The office space is designed to promote peak collaboration and performance by offering an abundance of common area workspaces and private areas like an interior library and collaboration areas including state-of-the-art technology. In addition, office tenants will have a fully equipped fitness center featuring floor-to-ceiling windows with full park views. Overhead doors will let fresh air in during workouts, and weekly outdoor fitness classes will be available to tenants and visitors at the park. Nathan Durham and Duane Henley with Newmark are leasing the creative office space.
Assembly Park’s unique retail and dining offerings and fresh green parks will keep employees on site after work hours and attract area residents and visitors seeking a hub for family-friendly fun. Located off Spring
Creek Parkway, the property’s main entry will welcome visitors with two ground-up retail opportunities designed by Michael Hsu Office of Architecture. The retail spaces range from 3,400 to 8,620 square feet and are central to the property and feature patios with park views and bike trail access making it the perfect place for watching your children play during lunch or taking in a live concert over drinks with friends. Ryan Smith and Sarah Velten with Northview Co. are leasing the retail space.
“Triten places a high level of detail on each of the mixed-use projects we develop. Continually, we aim to provide a curated experience to those who visit promoting innovation, collaboration, and a healthy lifestyle,” says Scott Arnoldy, founder of Triten Real Estate Partners. “The Mall’s location provided a fantastic opportunity for a reimagination that is central to a large residential base in East Plano. Assembly Park is a great chance for Triten to make a positive change in the community by providing a new and beautifully designed landmark that will offer endless entertainment and outdoor social gathering opportunities.”
A large part of the Triten mixed-use experience is providing exciting and sought-after on-site programming and experiences that are key for community interaction and activation at Assembly Park. Kid-friendly fitness, date-night dance lessons, and evening movie screenings will be in regular rotation once Assembly Park delivers. The on-site multifamily development at Assembly Park will provide all the conveniences that employees and visitors receive but with the luxury of never leaving home. Outlined with newly paved hike and bike trails, and signature green space directly outside your doorstep, Assembly Park delivers an on-site lifestyle second to none. The multifamily portion of the project will be available for lease only and feature Class A finishes, private garages, and a state-of-the-art fitness and pool area.
Assembly Park is scheduled to deliver in late 2023.
Elements that make up Assembly Park:
· 26-acre site
· 180,000 SF of reimagined creative office
· 16,500 SF of newly built retail and dining· 305 multifamily units consisting of flats and townhomes
· Large central park with dedicated areas for entertainment, children, and dogs
· Newly paved hike and bike paths that connect to neighboring residential and the Oak Point Nature Reserve
For more information, visit: www.assemblyparkplano.com
Stream Realty Partners, M2G Ventures Secure Technology Company For Redeveloped, Now Fully Leased Arlington Industrial Site
DALLAS – April 14, 2022 – Stream Realty Partners has executed a 100,129-square-foot lease for a leading-edge technology company at 3101 Pinewood Drive in Arlington, Texas, on behalf of its client, M2G Ventures, a North Texas-based real estate, investment, and development company. Stream is a national real estate services, development, and investment company based in Dallas.
The 100% leased, single-tenant redevelopment project is in the highly sought-after Great Southwest-Arlington submarket–an area that is attracting attention from regional and national tenants. With significant capital improvements including landscaping and a façade overhaul, a speculative office, and roof and lighting upgrades, M2G Ventures redeveloped the infill logistics facility to meet the demands of today’s modern industrial standards. The building sat vacant for 10 years prior to M2G Ventures acquiring it in 2021. In just one year, the project is redeveloped and fully leased.
“We are so proud to deliver this urban industrial asset in such a tight submarket,” said Jessica Miller Essl, Co-Founder of M2G Ventures. “And we are thrilled a leading-edge technology company has chosen Pinewood to be their distribution facility.”
Through the end of 2021 and into Q1 2022, the Great Southwest-Arlington submarket remains DFW’s premier market for occupiers due to its accessibility to Dallas and Fort Worth, strong labor force, and proximity to Dallas Fort Worth International Airport. Record high absorption and historically low vacancy have driven activity in the GSW submarket for high-quality national tenants.
“M2G has been a valued customer who is entrepreneurial and in tune with the ever-changing market dynamics,” said Stream Senior Vice President Luke Davis. “With very few land sites left for new development in the Great Southwest-Arlington submarket and some of the highest demand for industrial space in the metroplex, the area’s infill growth is some of the strongest in the country.” Davis and Stream Associate Mike Knudsen represented the landlord, M2G, in the transaction. Steve Koldyke and Brian Gilchrist of CBRE represented the tenant.
Stream Realty Partners to Develop a 1-Million-Square-Foot Speculative Industrial Project Near Port Houston
HOUSTON, TX – April 14, 2022 – Stream Realty Partners will develop a speculative 1-million-square-foot industrial project in a joint venture with Principal Real Estate Investors.
Stream, a national real estate services, development, and investment company, is expected to break ground in the third quarter of 2022 on Portside Logistics Center, a project at 4838 Borusan Road in Baytown, Texas. The property, located in the highly sought-after Southeast industrial submarket, offers immediate access to State Highway 99/Grand Parkway, Interstate 10, and Highway 225 and provides strategic access to Port Houston’s two container terminals – Barbour’s Cut and Bayport.
“We are extremely grateful to be growing a long-standing relationship with Stream through our partnership on Portside Logistics Center,” said Colin Frye, Asset Manager for Principal Real Estate Investors. “This project is a natural fit to continue our work together given our shared experience in the Port Houston area and the industrial sector overall.”
Portside Logistics Center will offer multiple configurations with an expandable 760,000-square-foot cross-dock building and a flexible 260,000-square-foot front-load building with a 40-foot clear height and 36-foot clear height, respectively. Intuitive ingress and egress via the Grand Parkway, which is currently being improved to Highway 146, will offer expedited access to Port Houston’s two container terminals, Highway 225, and Interstate 10. Both buildings will deliver with spec office space, LED warehouse lights, a white-boxed interior warehouse, and fully fenced and secured truck courts. The project is seeking LEED certification as part of the core and shell construction.
“The explosive population growth we are experiencing in Houston and greater Texas, coupled with the port diversification strategies many distributors are seeking, all position Houston’s Southeast submarket for continued positive momentum for the foreseeable future,” said Justin Robinson, Executive Managing Director of Stream’s Industrial Development Services division. “With serious land constraints in place for industrial development in this pocket, we feel this development opportunity perfectly positions our venture to capture this market growth and strong tenant demand.”
Kyle Fletcher, a Director in Stream’s Houston office, will assist in the development management of the ground-up industrial project. Robinson, Senior Director Tyler Wellborn, and Director Craig McKenna will provide oversight on the ground-up development.
Tyler Maner, Managing Director of Stream’s Houston Industrial division, and Jeremy Lumbreras, Senior Vice President for the Houston industrial division, will oversee leasing.
Chasnoff, Mungia, Pepping & Stribling LLP Lease 3,555 SF at 8610 N. New Braunfels in San Antonio
Chasnoff, Mungia, Pepping & Stribling LLP leased 3,555 square feet at 8610 North New Braunfels in San Antonio, TX. Steve Hall with Steve Hall Commercial represented the tenant and Austin Brodeur represented the landlord, Hartman Income REIT.
The Woodmont Company Represents Hobby Lobby in Sublease to Dick’s Sporting Goods in Frisco
The Woodmont Company, a national real estate firm specializing in the development, management, leasing, and sale of retail properties, announced that it has represented Hobby Lobby in a sublease to Dick’s Sporting Goods for a 50,000-square-foot building located at 5550 Preston Road in Frisco, Texas.
Evan Bloom of The Woodmont Company represented the sublessor Hobby Lobby. The sublessee, Dick’s Sporting Goods, was represented by Edge Realty, Megan Trimble and Greg Bracchi.