Category: Focus 2020

Constructing Tomorrow’s Buildings: Expect an Explosion in Modular Design

Posted on by Sarah

Next year, a new Hyatt Place Hotel will rise in Waco, Texas. Though it will have all of the typical amenities and features of a modern, new construction hotel, it’s what the guests won’t ever see that will be truly groundbreaking. The project is using the latest evolution in modular design and construction. This process has grown in maturity over the years, with recent innovations that endow tremendous time and cost advantages. The Waco Hyatt project, for instance, will be constructed almost entirely off site, in the fabrication facility that ModularDesign+ operates in Euless, Texas. A strategic partner of global architecture firm CannonDesign, ModularDesign+ hopes to change the way that owners, developers, architects and contractors think about modular construction. The 110-room, eight-story Hyatt Place Hotel Waco, designed by MWT Architects, will feature both rooftop and ground-level restaurants, a shopping center and a parking garage—all of which will be fabricated in Euless. Once completed, 140 stackable units will be shipped over the course of only three to four weeks to their final destination in Waco. That’s the largest incentive that modular offers: speed to market. The quicker that an owner or developer can begin generating revenue on a space, the better. Click to read more at www.rednews.com.

Top Developer Joins the Team for Frisco’s $10 Billion Fields Project

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Dallas property firm KDC joins Hunt Realty, Karahan Cos. and the rest of the developers of the more than 2,000-acre mixed-use community.

The Frisco mega-development is being built with Hunt Realty, Karahan Cos., Republic Property Group, Chief Partners LP and CrossTie Capital Ltd. and could be valued more than $10 billion. Now Dallas-based developer KDC is joining the effort to create the huge KDC built Legacy West’s office campuses for Toyota, Liberty Mutual Insurance and JPMorgan Chase.

Levy Group Sells Land at Northwest Place Industrial Park II

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HOUSTON – October 28, 2020 – Levey Group, a commercial real estate investment and development company, has sold 1.42 acres fronting on North Houston Rosslyn for future retail development to Rosslyn Retail Development, LLC out of Northwest Place Industrial Park II (NWP2). NWP2 is Levey’s Class-A, master-planned, 8-acre business park in Houston’s prime, near northwest submarket. The park’s private drive interconnects West Little York Road, and North Houston Rosslyn providing convenient truck ingress and egress. The park currently features one 64,850-square-foot building that has 36,350 square feet available for lease. The building features attractive storefront entrances, 32’ clear height, dock-high loading and grade-level access ramps. In addition, there is a 2-acre parcel fronting on West Little York Road with all utilities directly to the site available for sale or build to suit.

LEVEY GROUP
Levey Group is a commercial real estate investment and development company. Clients include companies needing office, manufacturing, laboratory, warehouse and distribution space in Houston and the surrounding areas. For more information, please visit the company’s website at www.leveygroup.com.

CONTACT
Levey Group
David Ebro
713-772-1393
info@leveygroup.com

Institutional Property Advisors brokers Sale of Central Dallas-Fort Worth Apartment Complex

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Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of The Destino, a 192-unit apartment property in Grand Prairie, Texas. MBP Capital traded the asset for an undisclosed sum to a buyer represented by Capital Vision Management LLC. “Dallas-Fort Worth, the nation’s fourth-largest metropolitan area, offers competitive advantages for businesses, and consequently multifamily assets in Grand Prairie have historically experienced exceptional occupancy and rent growth,” said Drew Kile, IPA senior managing director. Kile and IPA’s Will Balthrope, Joey Tumminello, Grant Raymond, Asher Hall and Al Silva, senior managing director in Marcus & Millichap’s Fort Worth, office represented the seller and procured the buyer. “The Destino has achieved strong revenue growth in the trailing 12 months through improved operations and the implementation of a value-add program,” said Tumminello. The Destino is 17 miles from the Dallas-Fort Worth International Airport, and 20 miles from the Dallas and Fort Worth central business districts. The property is surrounded by major employers such as Lockheed Martin, General Motors, Poly-America, American Airlines and the Great Southwest Industrial Park. The Arlington Entertainment District, Texas Live!, Globe Life Park, AT&T Stadium, Six Flags, and Lone Star Park are all nearby. “Optimally located in the epicenter of the Metroplex, The Destino gives the new owner an opportunity to continue the proven success of the interior upgrade program begun by previous ownership,” said Silva. Built in 2000 on 11 acres, the three-story, garden-style community has many amenities including covered parking, detached garages and a resort-style pool.

Everi Games Renews 51,000-SF Lease in Austin

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The RMR Group Inc. announced that Everi Games Holding Inc. recently signed a full-building, five-year lease extension at 206 Wild Basin Road in Austin. The two-story, 51,000-square-foot office building is part of an office park totaling more than 118,000 square feet. The property is managed by The RMR Group, who were represented in the transaction by Kevin Granger and Matt Frizzell of Cushman & Wakefield. Everi Games Holding Inc. was represented by Diana Holford and Austin Trees of JLL. “We are proud that Everi Games Holding Inc. has renewed its lease at 206 Wild Basin Road, which underscores RMR’s commitment to providing excellent customer service and our flexibility to accommodate our tenants’ needs,” said Marc Krohn, senior area director, The RMR Group. Situated on 2.6 acres with ample green space, 206 Wild Basin Road is in close proximity to Texas State Highway Loop 360, offering access to Austin’s central business district and the Greater Austin Metropolitan area. The Wild Basin Wilderness Preserve, which contains over 227 acres of trails and green space, is adjacent to the property.

BHW Capital and Gray Street Partners Sell San Antonio Rental Development

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BHW Capital and Gray Street Partners recently completed the sale of the Park on Wurzbach apartments in San Antonio. Venterra acquired the asset for an undisclosed sum. The 264-unit, class A multifamily project was developed as a joint venture partnership between BHW and Gray Street in late 2018. The sale was negotiated on behalf of the seller by the BHW team of Martin Bronstein, Ralph Howard and Bryan Tran. Venterra was represented in house by Hugh Brantley and Dror Goldberg. Acquisition financing was arranged by a collaboration between Matthew Bronstein of NorthMarq’s Houston office and Faron Thompson and Ali Meek of NorthMarq’s Atlanta office. Scott LeMontagne, Moses Siller, and Zar Haro of NorthMarq Multifamily’s Central Texas investment sales team consulted the seller on the sale. Park on Wurzbach was awarded the 2018 New Construction Garden Apartment of the Year by the San Antonio Apartment Association. The property features a mix of one-, two- and three-bedroom units each finished with stainless steel appliances, granite countertops, built-in desks and in-unit washer and dryers. Community amenities include a resort-style pool, full-circuit fitness center, yoga and spin studios, business center, bark park and clubhouse.