Category: Deals & Announcements

Sale of suburban Dallas retail center with Sprouts anchor close

Posted on by Mia Goulart

JLL Capital Markets announced today that it has closed the sale of Twin Creeks Marketplace, a 43,134-square-foot, grocery-anchored retail center located in the Dallas suburb of Allen, Texas.

JLL represented the seller, and an undisclosed investor acquired the asset.

Built in 2016, the 100-percent-occupied Twin Creeks Marketplace is anchored by a Sprouts, which comprises 69% of the total rentable area and boasts an annual visitor count of 265,400. Additional notable tenants include Starbucks, Verizon, ATI Physical Therapy and Advancial.

Situated at 1259 – 1271 West Exchange Pkwy., Twin Creeks Marketplace is less than a three-minute drive from U.S. 75, one of the largest north-south thoroughfares in DFW, and is within proximity to the Sam Rayburn Tollway. The center caters to the surrounding affluent consumer base in Allen with an average household income of $163,230. The immediate area features 1,400,000 square feet of Class A office space, 12,290 Class A multi-housing units, 1,600 hotel keys and 15 schools. Additionally, within five miles of the property is a 327,000 population.

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Chris Gerard and Adam Howells, Senior Director Caroline Binning and Analysts Pauli Kerr and Cole Sutter.

Partners brokers sale of 10,952-square-foot ambulatory surgery center in Houston

Posted on by Mia Goulart

Partners arranged the sale of a 10,952-square-foot ambulatory surgery center located at 2505 N. Shepherd Drive in Houston.

Partners’ Ryan McCullough, Tyler Jaynes, and Caleb Bester represented the seller in the transaction. The buyer was represented by Partners’ Ryan DeGennaro.

The buyer, a local group of various physicians and medical professionals, plans to rehab the existing structure and convert it to a multiple suite medical office for a wide variety of treatment options to serve the local community.

Partners arranges retail lease at 901 N. Vista Ridge near Austin

Posted on by Mia Goulart

Partners Real Estate, one of the largest independent commercial real estate firms in Texas, arranged a 1,054-square-foot retail lease with KindFolk Apothecary + Wellness located at 901 N. Vista Ridge in Cedar Park.

Partners’  Todd Mahler represented the landlord, Schneider Tax & Bookeeping in the transaction.

Berkadia arranges sale of apartment community in Central Houston

Posted on by Mia Goulart

Berkadia Institutional Solutions has arranged the sale of Metro Greenway, a 309-unit, mid-rise multifamily community in Central Houston. Senior Managing Directors Todd Marix and Chris Curry, Managing Directors Jeffrey Skipworth, Chris Young and Joey Rippel, and Director Kyle Whitney of Berkadia Houston represented the seller, Simpson Housing, a residential developer and manager based in Denver, Colorado.

Westdale, a real estate investment and management company based in Dallas, Texas, acquired the property.

Located at 4100 Southwest Fwy, Metro Greenway was built in 2008 by developer The Dinerstein Companies and consists of four residential stories above a two-story parking podium with 504 parking spaces. The property offers one- and two-bedroom units that range from 709 square to 1,272 square feet, with individual apartments featuring nine- to 15-foot ceilings, vinyl plank flooring, oversized picture windows, granite countertops, overmount sinks, gas ranges, art deco light fixtures, carpeted bedrooms, large walk-in closets, walk-in showers, double vanities, extra storage closets and spacious patios or balconies. The highly amenitized community includes a cyber café with a coffee bar and internet access, a resident lounge with billiards, a fitness center, pool plaza with a terrace and sundeck, fire pit, summer kitchen, enclosed pet park, electric car charging stations, and a parking garage with remote control access.

Metro Greenway is conveniently located just off I-69 next to Greenway Plaza, between River Oaks and West University, and to proximate to major employment centers in Houston. Metro Greenway is just 10 minutes from the Texas Medical Center, the world’s largest medical district, 15 minutes from Downtown Houston and 30 minutes from George Bush International Airport.

Partners arranges sale of Houston office building for Adkisson Group HQ

Posted on by Mia Goulart

Partners, one of the largest independent commercial real estate firms in Texas, arranged the sale of an 19,800-square-foot Class-A office building located at 4809 Westway Park Blvd in Houston. Adkisson Group purchased the property for its new company HQ.

“We were seeking a Class A development project to relocate and grow our company, and 4809 Westway Park provided what we were looking for,” said Steve Adkisson of of Adkisson Group. “The location offers us accessibility to our job sites and clients through Beltway 8 to all major thorughfares in the Houston area.”

Partners’ Travis Land, represented the buyer Enclave Partners, LLC an affiliated company of Adkisson Group in the transaction. Jude Filippone with Transwestern represented the seller.

Berg Hospitality Group announces Buttermilk Baby, new concept eatery coming to Houston

Posted on by Mia Goulart

Berg Hospitality Group has announced their newest concept coming this fall, Buttermilk Baby, which reimagines the All-American soda fountain with modern techniques and aesthetics paired with fresh dishes and soft serve ice cream selections in partnership with the iconic brand Carvel®. Buttermilk Baby is located in the popular M-K-T Heights development at 600 N. Shepherd Dr, Building 2, which is owned by Triten Real Estate Partners and Radom Capital. Berg Hospitality was represented in lease negotiations by Erin Dyer of Read King, and Triten Real Estate Partners was represented by Steve Radom of Radom Capital.

Berg tapped the award-winning New York-based design firm, ICRAVE, to help create the modern and cool 3,100-square-foot space with bright and fun “Instagrammable” designs. The all-new concept will feature breakfast platters, flakey biscuits, fried chicken sandwiches, juicy burgers and salads, using only the best ingredients available.

The ice cream bar will serve sweet treats from Carvel, which is the first-of-its kind collaboration in the Lonestar state and its debut into the Houston market.

Berg Hospitality plans to open Buttermilk Baby in September 2023.