Category: Deals & Announcements

VLK Architects and PBTISD Break Ground on a New 2nd through 5th Grade Campus

Posted on by Sarah

(Pecos, Texas) – On May 18, 2022, VLK Architects joined Pecos-Barstow-Toyah ISD to break ground on the construction of a new elementary campus. This is the second elementary school VLK designed for the district as a part of the May 2021 bond.

“VLK feels very fortunate for the partnership that we have established with Pecos-Barstow-Toyah ISD and their community as they break ground on their second elementary school,” said Monika Castillo, Principal of VLK Architects. “We understand the legacy these projects will bring to the students and staff and are excited to be a part of it.”

During the ceremony, PBTISD Superintendent Brent Jaco spoke about the collaborative process behind the design of this new facility that started last June.

“We have worked to ensure district stakeholders had a voice in the design of the new schools and facilities. Community members, parents, teachers, campus administrators, and even students have been involved beginning almost a year ago.”

The unique design process, called VLK | LAUNCH®, resulted in a 133,038sf facility with a two-story library at the heart of the campus featuring teaching spaces and reading nooks on each level. The school will also include a music room with direct access to a performance stage, STREAM (Science, Technology, Reading, English, Arts, Math) and science labs with access to an outdoor patio and science balcony, and an art room with a kiln.

The campus is scheduled to open its doors to students in fall 2023.

Huffines Communities Announces Sale of 644-unit Apartments

Posted on by Sarah

Dallas, Texas – Huffines Communities, one of the largest residential developers in the DFW Metroplex, announced the sale of the 644-unit Harmony Hill Luxury Apartments. The two-time MCSam ‘Multifamily Community of the Year’ was sold to the Seattle-based Weidner Apartment Homes in May.

Harmony Hill Apartments was not on the market and the opportunity for sale was originated by Kevin O’Boyle with CBRE. “Our firm was in the process of refinancing the asset when we were approached with an offer we could not refuse,” said Haley Gigliotti, Huffines Communities’ Director of Multifamily.

This exit for Huffines comes only 2 years after the firm sold their flagship development, Hebron 121 Station, to a New York based buyer. Hebron was a Class-A trophy asset with over 1,400 units located in Lewisville, Texas. Despite the recent exits, Phillip Huffines, President of the firm, passionately believes in developing for long term holds. He and his brother Donald enjoy the details of design and creating unique communities that consistently outperform the competition.

About Harmony:

Harmony Luxury Apartments in Rowlett, Texas, offers spacious one-, two-, and three-bedroom floorplans and over the top amenities, with 10’ ceilings and a 17,000 SF Clubhouse. The 15-building garden-style community was built in two phases. Phase 1 of the project has a total of 326 units, and upon completion in 2017, there was a resident waiting list. Phase 2, totaling 318 units, was completed in 2019 and has been equally successful.

About Huffines Communities:

Huffines Communities, founded in 1985, started primarily as a residential land development firm. Today, the company is one of the largest, privately held, multifamily and single-family developers in the Dallas-Fort Worth area. The firm has built over 2,400 apartment units and over 15,000 single-family lots in the last 15 years.

About Wiedner Apartment Homes:

Wiedner is a privately held Seattle-based company that owns over 57,000 units across 12 states and two countries, according to NMHC. The firm’s founder, Dean Weidner, bought his first rental property in Seattle, WA in 1977 and now ranks as the 15th largest apartment owner in the United States.

CBRE Pre-leases 169,011-Square-foot Speculative Industrial Development in East El Paso

Posted on by Sarah

CBRE has arranged the lease of a 169,011-square-foot speculative industrial building in far East El Paso to an undisclosed logistics company.

CBRE’s William Caparis and André Rocha represented the developer, Mississippi-based EastGroup Properties, in lease negotiations.

EastGroup Properties began construction on the speculative warehouse/distribution building—located at 12291 Gateway Boulevard West—in September 2021 with an estimated completion date of July 2022. The real estate investment trust currently owns a little over 1.2 million square feet of industrial space in El Paso.

Once complete, the building will be 255 feet deep with modern specifications including a clear height of 32 feet, 52- by 50-foot column spacing, and 42 dock-high doors. Additional specifications include skylights, three-phase power and an ESFR sprinkler system. The building will sit on 12.61 acres and include a 135-foot deep truck court with staging for 50 trailers, as well as parking for 163 cars.

The new warehouse is situated in El Paso’s East submarket, a premier industrial corridor with quick access to Interstate 10 and Texas State Highway Loop 375. At the end of the first quarter of 2022, the submarket accounted for nearly half of all industrial construction with approximately 2.1 million square feet in progress according to CBRE research. Of the 4.2 million square feet of industrial space under construction throughout the metro, 2.0 million square feet were speculative developments.

Stonelake Capital Partners Announces Ground Breaking on 48-Acre Industrial Development in Georgetown

Posted on by Sarah

Stonelake Capital Partners announced the ground breaking on a 48-acre industrial development located on I-35 just north of Austin in the City of Georgetown, Texas. Stonelake plans to build 620,000 square feet of Class-A warehouse/distribution space across three buildings on a speculative basis. The industrial park, which will be called “Georgetown Logistics Park”, is located at the southwest quadrant of the I-35 and SH 130 intersection at 1800 Aviation Drive, just east of Georgetown Municipal Airport. Stonelake expects to complete construction in March 2023.

Georgetown Logistics Park will feature best-in-class physical specifications and cater to the needs of a wide range of warehouse/distribution and manufacturing tenants serving the greater Central Texas region. Georgetown Logistics Park will include the following specifications and all three buildings will be completed in one phase.

a 426,240-square-foot cross dock building with 40-foot clear height and 82 trailer parking stalls

a 123,200-square-foot shallow bay rear loaded building with 36-foot clear height

a 70,300-square-foot rear loaded building with 32-foot clear height.
Stonelake is a top 10 owner of industrial buildings in Austin and Georgetown Logistics Park will bring Stonelake’s total industrial ownership in Austin to 1.52 million square feet across 28 industrial buildings.

Stonelake is an active buyer and developer of infill warehouse buildings in high barrier to entry submarkets across the United States with a particular focus on Texas and Sunbelt markets where job growth and population growth significantly outpace the national average.

In total, Stonelake owns 265 industrial buildings totaling 23 million square feet in Austin, Dallas, Houston, Atlanta, Phoenix, Nashville, Tampa, Orlando, San Antonio and El Paso.

Ace Schlameus, Kyle McCulloch and Greta Reid, with JLL, will be handling leasing on behalf of Stonelake.

Design services for the project were provided by Powers Brown Architects and Pape Dawson Engineers and the general contractor for the project is Zapalac Reed.

GREA Closes Three Multifamily Properties in Arlington

Posted on by Sarah

GREA (Global Real Estate Advisors) has announced the sale of three multifamily properties in the Dallas-Ft. Worth Metroplex totaling 217 units. Avalon Apartments, 75 units in Arlington; Tuscany Square, 70 units in Arlington; and Regency Apartments, 72 units in Arlington.

GREA Executive Managing Director Mark Allen represented the sellers and assembled the portfolio for a single, out-of-state buyer.

Each property was built in the 1960s, but has not been modernized in several years. The new ownership plans to vastly improve each community to provide higher quality housing for Arlington’s residents.

Arlington boasts a thriving rental market with consistent high growth and occupancy. The city is ranked in the top 15 of the safest and most livable cities in the country, drawing new residents looking to take advantage of its great amenities and growing job base.

Dallas – Fort Worth continues to soar to the top of the list of the country’s biggest real estate investment markets. Over the past four quarters, DFW was No. 1 in the nation in multifamily investments. The region saw $29.2 billion in total volume, accounting for 7.8% of the U.S. total.

Colliers Sells 48,000 Square Foot Industrial Facility in Northeast Houston

Posted on by Sarah

Houston, May 19, 2022 – Colliers is pleased to announce the sale of a four building industrial facility, totaling 48,000 square feet, located at 2407 Wilson Road in Humble, Texas. The buyer, 2407 Wilson LLC, was represented by Patrick Swint of Knightsbridge Ventures. Tom Condon, Jr. of Colliers represented the seller, R.B. Machine Works, in the transaction.

The industrial facility is comprised of four buildings situated on ±3.26 acres. The property features utilities provided by the City of Humble, heavy power, natural gas service, and motorized gate fencing.


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The property is located in Houston’s Northeast Hwy 90 industrial submarket. The submarket contains 24.3 million square feet of industrial space which is currently 91% occupied. There is over 753,000 square feet of industrial space currently under construction in the submarket.