Bradford Commercial Real Estate Announces Recent Lease Deals in Texas

Installation Delivery & Storage LLC has leased 10,000 square feet of warehouse space at 3530 Dilido Rd., Dallas, from 75032 Investments LLC. Noah Dodge, senior associate of Bradford Commercial Real Estate Services, and Michael T. Grant, senior vice president and managing partner, represented the landlord in the direct deal.

Baley’s Bridal Inc. has leased 5,042 sf of retail space in Midway Center, 14472 Midway Rd., Farmers Branch, from Kennington Midway Center LLC. Melanie Hughes, senior vice president of Bradford Commercial Real Estate Center, and Elizabeth Hooper, market director, represented the landlord. Sara Bodzy and Carley Keiser of TIG Real Estate Services Inc. represented the tenant.

Weg’s Guns has leased 3,934 sf of retail space in Midway Center, 14430-76 Midway Rd., Farmers Branch, from Kennington Commercial. Melanie Hughes, senior vice president of Bradford Commercial Real Estate Center, and Elizabeth Hooper, market director, represented the landlord in the direct deal.

NAI Partners Announces Recent Deals in Texas

NAI Partners recently arranged a +15 acre sale for the Cleveland-based NRP Group to build a 324-unit Copernicus Apartments.

NAI Partners’ Carlos Marquez and Brett Lum brokered the transaction. NAI Partners is still marketing the remaining 52.33 acres at the site.

The NRP Group recently completed The Stella Apartments on the East Side and has several active projects in the area including the Flats at River North and Acero near downtown.

The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing. Since its founding in 1994, NRP has developed more than 43,000 apartment homes, and currently manages over 23,000 residential units. The company utilizes the entire breadth of its in-house capabilities to fulfill its mission: creating exceptional rental communities for individuals and families, regardless of income. Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market rate, affordable, and senior housing.

NAI Partners recently arranged the sale of 8725 Meadowcroft Drive, a 20,900-sq.-ft. industrial property in West Houston.

NAI Partners’ Michael Keegan and Andrew Laycock represented the seller in the transaction. Hunter Johnston with Bridge Commercial represented the buyer in the transaction.

The buyer, U.S. Living, is a subsidiary of Sade Capital that specializes in the acquisition, development, and management of multifamily assets across the U.S.

NAI Partners recently arranged the sale of 1302 Boyles Street, a 11,880-sq.-ft. industrial property in East Houston.

NAI Partners’ Michael Keegan and Andrew Laycock of the company’s Industrial Services Group arranged the transaction.

The buyer, ED Produce, specializes in the wholesale distribution of fresh fruits and vegetables. This will be its second location overall and first location in Texas.

NAI Partners recently completed the sale of 3815 Hollister Street, a 30,194-sq.-ft. industrial property in Northwest Houston.

NAI Partners’ Michael Keegan and Andrew Laycock of the company’s Industrial Services Group arranged the transaction.

KeyBank Secures $30 Million Loan for El Paso Apartment Complex

KeyBank Real Estate Capital (KBREC) secured $30 million of fixed-rate Freddie Mac financing for a real estate private-equity investment firm based in New England to acquire a multifamily housing property in El Paso, Texas. Built in 2009, Bungalows at North Hills is a 342-unit garden-style apartment complex that consists of 42 two-story apartment buildings on 18 acres of land. Units are available in studio, one-, two-, three- and four-bedroom floor plans. Amenities include a clubhouse, fitness center, swimming pool and courtyards with barbeque grills. The loan is structured with a five-year term, and subsequent to a one-year interest-only period amortizes on a 30-year schedule. Caleb Marten of KBREC’s Commercial Mortgage Group and Chris Neil of KeyBank’s Institutional Real Estate Group structured the financing.

Remediation of Ammunition Plant Creates Thousands of Acres of Development-Ready Land in Texas

During a virtual news conference this week with regional, statewide, and national leaders, TexAmericas Center announced that thousands of acres have been successfully remediated to meet commercial and industrial standards. Official action by the Texas Commission on Environmental Quality removed the United States Army’s Resource Conservation and Recovery Act (RCRA) permit from the property and opens up more than 6,800 acres of additional ground to be transactable for development, making them ready for job-generating uses. The almost-7,000 acres of land represented a portion of the former Lone Star Army Ammunition Plant property, which necessitated environmental remediation before development could be approved. The comprehensive remediation, which began in 2010 and was recently completed, required a lengthy process to ensure all standards and assurances were met correctly and completely. This announcement complements a 2015 announcement in which 2,000 acres were removed from the same RCRA permit. In total, TexAmericas Center now has over 12,000 acres of transactable property. The amount of land this opens for development is significant. To put it into perspective, 6,800 acres is the same approximate size as 5,142 football fields, 7.5 times the size of Central Park, 40 times bigger than Disneyland, or 65 times bigger than the Mall of America. More than 2 million parking spaces can fit into 6,800 acres. Accordingly, the availability of this amount of land opens up opportunities for the largest players in almost any industry. In recent years, TexAmericas Center and its redevelopment partners have invested more than $40 million in remediation activities and improved infrastructure to advance job and capital creation the region. These investments, combined with these 6,800 acres of shovel-ready land, further enhance the organization’s offerings, capabilities, and services for businesses seeking to grow or relocate. TexAmericas Center and the region’s features that are attractive to potential businesses include: New 150,000-square-foot spec building that will be completed summer of 2021 | Enhanced fiberoptic lines | A new, onsite $200 million water treatment plant that is funded and will soon be under construction | Area’s robust transportation system | Region’s low cost and abundant sources of power | New airport terminal and pending flight expansions | TexAmericas Center’s third-party logistics services division | Expansion of training options at all local universities and colleges, which includes seven institutions of higher education within 30 miles of TexAmericas Center TexAmericas Center has built significant momentum with recent recognitions and announcements. In 2020, TexAmericas Center was ranked as the No. 8 industrial park in the country by Business Facilities magazine. It is one of the largest mixed-use industrial parks in the country, and a designated US Opportunity Zone, HUBZone, and Foreign Trade Zone. Current tenants include transportation equipment, oil and gas pipe, warehousing, construction, and supplement manufacturing industries. TAC is also equipped to serve a range of industries such as primary and fabricated metals, alternative energy, paper and wood products, chemicals, rubber products, defense, cement, and heavy equipment. In November, TexAmericas Center broke ground on a new speculative (spec) building to support future tenants relocating to or growing in, the Texarkana region. The 150,000-square-foot building on 24 acres will be ready for new tenants in the summer of 2021 and is the first new building in the industrial park in 15 years.

Commercial and Multifamily Mortgage Bankers Originated $441.5 Billion in 2020

Commercial and multifamily mortgage bankers closed $441.5 billion of loans in 2020, according to the Mortgage Bankers Association’s (MBA) 2020 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation. The $441.5 billion in commercial and multifamily mortgages closed last year was 26 percent lower than the record $601 billion reported in 2019. “Commercial and multifamily borrowing and lending in 2020 fell by a quarter from 2019’s record year, as the COVID-19 pandemic disrupted the economy and created increased uncertainty,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “The property types most impacted by the pandemic – lodging and retail – saw the largest declines in originations, while those in which investors and lenders had the greatest confidence – particularly multifamily – held up better. The source of capital also mattered, with government-backed loans from the Fannie Mae, Freddie Mac and FHA hitting new record-highs in volume.” Multifamily properties saw the highest volume of mortgage bankers’ origination volume last year at $272.0 billion, followed by office buildings, industrial properties, retail, health care and hotel/motel. First liens accounted for 98 percent of the total dollar volume closed. Click to read more at

In Historic Kimco-Weingarten Merger, Two Shopping Center Stalwarts Combine Forces

Shopping center owner Kimco Realty said on Thursday it would buy rival Weingarten Realty Investors for about $3.87 billion, adding heft to its business just as more parts of the U.S. economy open with the rollout of Covid-19 vaccines. Kimco said in a statement it would pay Weingarten shareholders about $30.32 per share in cash and stock, a near 11% premium to the company’s closing share price on Wednesday. The deal will create a company with 559 open-air grocery-anchored shopping centers — one of the better performing parts of the commercial real estate sector during the pandemic as people rushed to stores to stock up on essential items. Click to read more at