Dallas-based Investor Picks up Fort Bend County Self-storage Facility

JLL Capital Markets has completed the sale of Savannah HWY6 Self Storage, a 678-unit, recently completed self-storage facility in Rosharon, Texas.

JLL represented the seller, Quintet Capital Group, in the sale of the property to Dallas-based Montfort Capital Partners.

Completed in September 2022, Savannah HWY6 Self Storage consists of six single-story storage buildings and 900 square feet of office space. The Class A facility is 75% climate-controlled and offers drive-up units, cylinder locks, gate access and on-site management.

Savannah HWY6 Self Storage is positioned on a 6.14-acre site at 14215 Hwy 6 in Fort Bend County, which is the fastest-growing county in the U.S. The property has excellent visibility to Hwy 6, which offers visibility to more than 30,000 vehicles per day. The immediate area surrounding Savannah HWY6 Self Storage has seen rapid population growth and commercial development over the last 20 years, including 3,000 new homes to be delivered in Sienna Plantation South.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Steve Mellon and Brian Somoza, and Directors Adam Roossien and Matthew Wheeler.

Colliers Mortgage Closes Fannie Mae Loan for The Edmond in Waco

Fritz Waldvogel of Colliers Mortgage’s Minneapolis office closed a Fannie Mae loan for a repeat client for the refinancing of The Edmond in Waco, Texas. The 124-unit market rate property was constructed in 1967 and includes 10 two-story garden-style buildings and two one-story maintenance/storage buildings. Community amenities include a courtyard, BBQ/picnic area, covered parking, on-site management, pool, package receiving, clothes care center, on-site maintenance, and surveillance camera system.

The loan was arranged through a partnership with Old Capital Lending and carries a 10-year term.

Fritz Waldvogel of Colliers Mortgage’s Minneapolis office closed a Fannie Mae loan for a repeat client for the refinancing of The Edmond in Waco, Texas. The 124-unit market rate property was constructed in 1967 and includes 10 two-story garden-style buildings and two one-story maintenance/storage buildings. Community amenities include a courtyard, BBQ/picnic area, covered parking, on-site management, pool, package receiving, clothes care center, on-site maintenance, and surveillance camera system.

The loan was arranged through a partnership with Old Capital Lending and carries a 10-year term.

SHM Architects Signs 12,000 SF at the Meadows Building

Transwestern Real Estate Services (TRS) announces SHM Architects, PLLC, a Dallas-based design firm, has signed a new, long-term 12,218-square-foot lease in the historic Meadows Building at Energy Square, a 170,000-square-foot office building located at 5646 Milton St. The firm moves to the top floor of the building, relocating from the Knox District. Transwestern’s Michael Griffin and Ethan Minter represented the tenant in lease negotiations.

SHM Architects, PLLC is a boutique design studio founded in 2005 in Dallas by David Stocker, Mark Hoesterey and Enrique Montenegro. In 2019, SHM launched its first satellite studio in Crested Butte, Colorado, reflecting a sustained commitment to servicing clients across the Mountain West region.

With more than 1.1 million rentable square feet spread out over five buildings, including the Meadows Building, Energy Square recently underwent a renovation that includes a state-of-the-art 10,000-square-foot fitness center, conference center, tenant lounges, revamped delis, campus park and outdoor deck. Completed in 1955, the Meadows Building was the first suburban office tower in Dallas and originally served as the headquarters for the General American Oil Company.

Jeff Eckert, Blake Shipley, Haley Hullett and Ayanna Jarvis with JLL represented the landlord, GlenStar and USAA Real Estate.

According to Transwestern research, pervasive flight to quality continues driving asking rent growth higher in quality Class A properties. Last quarter, full-service rents reached $43.92 per square foot, up 7.6% from last year.

Sale of Newly Completed Industrial Building in Northeast Dallas Closes

JLL Capital Markets announced today that it has closed the sale of the Logistics Center at McKinney Building B, a Class-A, 301,796-square-foot industrial building in McKinney, Texas.

JLL represented the seller, a joint venture between Thor Equities Group and Morgan Stanley, in the sale to AC Industrial Properties LLC.

Logistics Center at McKinney Building B is a rear-load building featuring 32-foot clear heights, 130-foot truck court, 52 overhead doors, two drive-in doors and 190 parking spaces.

The property is situated on 16.82 acres at 350 Cypress Hill Drive with direct access to Dallas-Fort Worth and Texas’s major commercial hubs via U.S. 75, Highway 380 and State Highway 121. As a result, Logistics Center at McKinney Building B is within 20 miles of 1.46 million residents. Furthermore, the building is located five miles from McKinney National Airport.

Logistics Center at McKinney Building B benefits from its position in the Northeast Dallas Industrial submarket, which accounts for approximately 20% of the submarket’s total inventory. Vacancy within the submarket is now below the market average. Most new development is occurring in the outlying areas of the submarket, such as McKinney and Frisco. Last-mile tenants are relocating to these fast-growing suburbs following the population growth that has occurred over the past two decades.

The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and Analyst Pauli Kerr.

Texas Rangers, Cordish Cos and Arlington Celebrate Groundbreaking of Luxury Residential Community

Slated to open in 2024, One Rangers Way will create an exciting first opportunity to live steps away from Globe Life Field, Choctaw Stadium
and AT&T Stadium

State-of-the-art residential building will offer an upscale living experience with over 43,000 SF of amenities and services on par with the finest residential and condo buildings in the country.

Interested renters can visit www.OneRangersWay.com or email info@onerangersway.com for more information

ARLINGTON, Texas, Oct. 27, 2022 /PRNewswire/ — The Texas Rangers and The Cordish Companies gathered yesterday to celebrate the groundbreaking of One Rangers Way, a luxury residential community in the heart of the Arlington Entertainment District. The Rangers and Cordish were joined by Arlington Mayor Jim Ross, Arlington City Council, and community and business leaders from the City of Arlington and Tarrant County to recognize this exciting milestone. One Rangers Way continues the incredible momentum of new development in the Entertainment District that began with the opening of Texas Live! in 2018. The project continues the next phase of over $1 billion of new development currently under construction in the Entertainment District that includes the forthcoming Loews Arlington Hotel & Convention Center, National Medal of Honor Museum and Spark Coworking. Click to read at www.prnewswire.com.

Vanguard Real Estate Advisors Announces Sale of Build-to-rent Development Site Near Dallas

Vanguard Real Estate Advisors, a Dallas-based real estate advisory and capital markets firm, announces the sale of an 11-acre build-to-rent (BTR) development site in Melissa, Texas. Jordan Cortez, Mason John, and Haley Birmingham of Vanguard REA represented the Purchaser, Legacy Partners, who plans to construct a luxury 133-unit build-to-rent community. Legacy Partners is a privately-owned real estate firm that develops, manages, and acquires multifamily and BTR communities in core markets throughout the United States.

The Site is ideally located in the heart of Melissa with frontage along State Highway 5, approximately three miles NE of the Highway 75 and Highway 121 intersection. Melissa is a dynamic suburban community in Collin County just 40 miles north of Dallas with excellent connectivity to greater DFW.