Chicago-based W.E. O’Neil to launch Austin office June 1

Chicago-based W.E. O’Neil Construction, a nationwide leader in the commercial construction industry, announced the official opening of its Austin office on Thursday, June 1. Members of the media will have the opportunity at the event to speak with W.E. O’Neil executives about the company’s Texas launch, their plans for the Greater Austin/Central Texas market and O’Neil’s steady growth since its founding in 1925.

In May 2022, W.E. O’Neil announced it had acquired Austin-based DCA Construction. DCA’s management team will remain in place and the firm will officially become W.E. O’Neil Construction on June 1. The Austin offices are located at 8868 Research Boulevard, Suite 500.

W.E. O’Neil, a 100% employee-owned firm, has completed several projects for longtime clients in Texas over the past decade. The firm brings a deep well of in-house resources, financial strength and nearly 100 years of construction expertise to the Austin commercial real estate and development market. With the DCA acquisition, O’Neil now has a total of 12 office locations in about 20 markets nationwide.

The Austin office will serve the entire state but will focus on penetrating the Greater Austin/Central Texas area’s multifamily, hospitality and retail segments, as well as counter-cyclical markets like aviation, healthcare, higher education and senior living. Goals for the local market are to generate $375 million in opportunities and secure $75 million in awards, leading to $100 million-plus in real 2023 backlog while achieving 10% consistent sales growth and at least a 60% net promoter score from clients year over year.

W.E. O’Neil has projects in progress across Texas, from Fort Worth to Austin to Corpus Christi. They include Junction 2035, a 14-acre site with 3,500 square feet of spec office and restroom build-out (Fort Worth); Kyle Retail, consisting of the construction of two retail shell buildings totaling 19,000 square feet separated by a lighted courtyard (Kyle); and Nordstrom Park Lane, the 27,000-square-foot interior renovation of an existing Nordstrom Rack store, including flooring, bathroom fixtures and finishes, mother’s room, dressing room partitions and finishes, breakroom, employee lockers and cash-wrap relocation (Dallas). O’Neil is also renovating Nordstrom Rack stores in Allen, San Antonio and Plano. Earlier this month, the Texas Department of Public Safety awarded the firm a contract to build a 13,000-square-foot vehicle licensing and registration/driver testing facility in Plano. A list of other notable completed projects can be accessed here.

In 2025, W.E. O’Neil Construction will celebrate its centennial anniversary. This year, in its 98th year of business, W.E. O’Neil expects to rack up annual revenue of more than $1.4 billion, which includes 80% repeat business.

The acquisition of DCA enables W.E. O’Neil to better serve clients by offering several additional resources, including full-time building information modeling (BIM) and virtual design and construction (VDC); preconstruction and estimating department with a staff of 15; mechanical, electrical and plumbing management; and marketing and business development. Over the past 12 months since the acquisition, W.E. O’Neil has hired five new employees and plans to hire more with a goal of 28 employees by 2025. Currently, the Austin office employs 19. The firm is actively recruiting project estimators, project managers and project superintendents. W.E. O’Neil Construction is an employee stock ownership (ESOP) firm, meaning it is 100% employee owned. Currently, O’Neil has approximately 503 employee-owners, 42% of whom have been with the company for more than five years. Its senior leadership team has an average of 30.3 years of industry experience.

HDA selected for new Love’s Truck Solutions facility in Natalia

HDA Architects, one of the nation’s leading architectural, interiors and master planning firms, is nearing completion on one new Love’s Truck Solutions facility in Natalia, Texas.

Love’s Truck Solutions, Natalia, is a 252,500-square-foot, $23 million facility that will contain a tire warehouse, temperature-controlled storage space, retread bays and a 5,500-square-foot office. Building components include two drive-up doors, 24 full docks and four overhead door KO panels. Located adjacent to an existing Love’s Travel Stop, the concrete tilt-up facility will serve as an essential component to conveniently serving Love’s customers all in one location.

The location is on track to beat its expected completion date, wrapping up construction this August. The team consists of Catamount Constructors, Ambrose Property Group, Vickrey & Associates, LLC and Alper Audi, Inc.

Sale of neighborhood power retail center in Houston closes

JLL Capital Markets has closed the sale of Steeplechase Center, a 195,575-square-foot neighborhood power retail center in Northwest Houston, Texas.

JLL represented the seller, Jones 1960 Crossroads, LLC, and Highland Capital acquired the asset.

The 82% occupied Steeplechase Center is leased to Goodwill, Melrose, Citi Trends, Uptown Beauty, Dollar Tree, dd’s Discounts, 99 Cents Only, Big City Wings, Leslie’s Pools, Rent a Center, La Reyna Tortilleria, Kim’s Hair Salon, Imperial Foot Reflexology, Iris Nails and Spa, Nancy’s Tailor, Metro PCS, Pho Town, Checkers and Ostioneria Michoacan.

The property is located at 10705-10951 Jones Rd. directly off of Cypress Creek Parkway. The center is approximately a 30-minute drive from Downtown Houston.

The JLL team that represented the seller was led by Senior Director John Indelli and Senior Managing Director Ryan West.

Partners Real Estate arranges sale of medical office building in Mission

Partners Real Estate arranged the sale of a 49,320-square-foot medical office building located at 909 Business Park Drive in Mission, Texas.

Partners’ Gustavo Torres represented the seller, MMP Development, in the transaction. Alex Wenzel of Sands Investment Group represented the buyer.

Midway and Parkway form real estate investment, operations and management firm

Privately owned, full service real estate firms Parkway Property Investments, LLC (Parkway) and Midway Holdings, LP (Midway) have entered into a definitive agreement whereby the companies will form a new, fully diversified real estate investment, operations, and management firm. The new firm enables two nationally recognized firms with over 100 years of collective experience to share capital and complementary expertise. The firms will work together to increase investment and expand ownership and operations across the Sun Belt region and beyond, with a focus on creating remarkable places and sustainable assets.

The new combined firm, which will employ approximately 300 team members, will be headquartered in Houston, and will have people and/or assets in 13 markets across Texas, Florida, Georgia, Virginia, Arizona, Colorado, and California. The full integration of the Parkway and Midway teams is targeted for Q3 2023.

Upon full integration, Bradley Freels and James Heistand will serve as co-executive chairmen of the new firm’s board, and Jayson Lipsey and Jamie Bryant will serve as co-chief executive officers of the new firm. The remainder of the new company’s leadership team will include executives from both Midway and Parkway. A. Noni Holmes-Kidd will serve as chief legal officer, Matt Mooney will serve as chief operating officer, John Kosciulek will serve as chief financial officer, and Pam Jesse will serve as chief people officer.

Midway will continue to operate its development entity under current management. 

Partners Real Estate arranges sale of 69,125-square-foot single-tenant industrial portfolio in Houston

Partners arranged the sale of a 69,125-square-foot single-tenant industrial portfolio comprising of five buildings located at 12839 FM 529 Road and 6919 Mayard Road in Houston, Texas.

Partners’ Cary Latham and Hunter Stockard represented the seller AMAG Holdings LLC in the transaction. Blake Deer & Carson Deer of Capital Real Estate Commercial represented the Buyer, Capital Real Estate Investments.