Category: News & Market Reports

American Landmark Expands Presence in Texas

Posted on by Sarah

American Landmark Apartments has acquired Broadway Chapter Apartments, a 242-unit apartment community located in the Near Southside submarket of Fort Worth.

Built in 2021 and located at 401 Hemphill Street, Broadway Chapter offers studios, lofts and one- and two-bedroom floorplans ranging from 547 to 1,195 square feet. Apartments feature stainless steel appliances, wood-style plank flooring, full-size washer and dryer, walk-in closets with custom shelving, oversized windows, a keyless fob entry system, private balconies and 20-foot ceilings in lofts. This work-friendly community also provides a wide range of amenities, including a resident lounge with a coffee bar, library, Zoom room, fitness center with pelotons, infinity-edge pool with in-pool loungers, sun deck and fire pit.

Along with being situated in Fort Worth’s Southside Medical hub, the property is located between I-30 and I-35 and just a five-minute drive to Magnolia Avenue, where residents can find local restaurants, bars and breweries.

Bill McKeon: Investing in Education Key to Advancing Houston’s Life Sciences Ecosystem

Posted on by Sarah

As industry leaders work to advance Houston’s life sciences ecosystem, investing in education will be critical to its success, according to Bill McKeon, President and CEO of the Texas Medical Center.

McKeon discussed how Houston has positioned itself as the “Third Coast” for life sciences and how leaders are working to strengthen the region’s ecosystem during the latest installment of the Partnership’s Why Houston webinar series.

“It took Boston 20 years to establish what they have today,” McKeon said as he discussed the progress on the construction of TMC3. The transformational research hub will serve as a life sciences cluster for leading researchers and industry experts.

McKeon said TMC3 project leaders have spent time in Boston to learn about its life sciences hub and learn from their initial mistakes. One of the takeaways was to invest in retail and green space from inception, McKeon said.

“We’re putting hundreds and millions of dollars into those parks, into our retail where anyone in economics would say, ‘Don’t do that. You’re not going to see the return. You’re going to lose it.’ It’s about investing in the community just like city has made such great investments in our parks through our great philanthropy,” McKeon said. Click to read more at www.houston.org.

Greysteel Arranges Sale of 196-Unit Multifamily Property in El Paso

Posted on by Sarah

Greysteel arranged the sale of Casa Barranca, a 196-unit multifamily property located in El Paso. Greysteel Senior Director Jack Stone, based in the company’s Dallas and Fort Worth offices, negotiated on behalf of a premier development company in El Paso.

Casa Barranca is a 196-unit multifamily property located at 151 S. Resler Drive. The property was nearly fully occupied and consisted of two and three-bed options. It’s also centrally located next door to Whole Foods and numerous other retail options.

“It’s an incredible milestone for us,” said Senior Director Jack Stone, “marking our 13th multifamily transaction in El Paso in the last three years, totally over 2,200 units.”

Before Redeveloping Third Ward Staple Spanish Village, Owner Taps New Platform for Community Input

Posted on by Sarah

Next to the 69-year-old Spanish Village Restaurant, which has long greeted people driving down Almeda Road, a sign in bold lettering asks “What should go here?” Beside it, a giant QR code directs interested passersby to a page on a website called Localist, where dozens of people have weighed in.

“Cool y’all are asking,” said one. “Whatever y’all do, make sure it features businesses from diverse faces.”

“A 24-hour food option would be the most amazing thing ever!” said another.

The signs have popped up throughout the city in recent months, the work of two Houstonians who wanted to give communities a way to weigh in on what properties should be used for. They hope Localist, a project they’ve funded themselves, will give people a say in how investment reshapes their neighborhoods — something especially important in a city where the planning process does not require public input and during a time when investment is surging in commercial real estate.

On HoustonChronicle.com: Why a Third Ward property owner is saying no to townhomes. Click to read more at www.houstonchronicle.com.

The Texas Rangers and The Cordish Cos Announce Major Anchor for Choctaw Stadium

Posted on by Sarah

The Texas Rangers and The Cordish Companies announced today that Spark Coworking will anchor the southeast corner of Choctaw Stadium in the heart of the Arlington Entertainment District. The collaborative workspace, Spark Arlington, continues the momentum of nearly $1 billion of new development in the Entertainment District that includes the forthcoming Loews Arlington Hotel & Convention Center, National Medal of Honor Museum and the recently announced One Rangers Way luxury residential building which will break ground this fall.

“Spark Arlington will add another important component to the development of the Arlington Entertainment District—collaborative business enterprise,” said Texas Rangers Managing Partner and Majority Owner Ray Davis. “The addition of Spark Arlington also continues our pledge to make Choctaw Stadium a vital and fully productive facility in the District. I am pleased to join with our partners from the City of Arlington and The Cordish Companies in making this announcement today.”

Spark will become a central hub for local entrepreneurs, creators and innovators to locate and grow their businesses when it opens this winter. The coworking space will support Arlington’s growing entrepreneurial community, placing members within close proximity to neighboring businesses and amenities in the Entertainment District including Globe Life Field, AT&T Stadium, Texas Live!, Live! by Loews and the forthcoming Loews Arlington Hotel & Convention Center, National Medal of Honor Museum and One Rangers Way residences. Click to read more at www.prnewswire.com.

One Retail Sector That’s Thriving Today? The Ghost Kitchen and the Ghost Franchise

Posted on by Sarah

Ordering food from a delivery app? The odds are it might come from a ghost kitchen. And if you don’t know what these are, you will soon. Industry
analysts say that these kitchens – which prepare foods either from online-only restaurants or from several traditional restaurants in an area – are becoming a big part of the U.S. restaurant business.

Ghost kitchens, at their most basic, are commercial kitchens that don’t come
with storefronts. They also don’t come with any physical dine-in or drive-through restaurant attached. Instead, they are spaces that restaurant owners might rent to prepare food off-site so that they can deliver it more quickly to their customers. A single ghost kitchen space, then, might prepare the food from several different restaurants in an area.

Then there are those restaurants that don’t have any actual dining or carry-out spaces at all. They instead rely on an Internet presence and several ghost kitchens across the country. These so-called ghost chains run no physical restaurants. Customers instead order food online where it is then prepared in a ghost kitchen near them. Click to read more at www.rednews.com.