Category: US/Texas CRE News

Lee & Associates Dallas Fort Worth negotiates 106,053-square-foot industrial lease transaction

Posted on by Mia Goulart

Lee & Associates Dallas Fort Worth, one of the largest privately-owned national real estate firms, has completed a new lease transaction for a 106,053-square-foot industrial space located at Southwest Crossing Logistic Center, 5200 South Fwy in Fort Worth, Texas, 76115.

Becky Thompson, Reid Bassinger and Trey Fricke of Lee & Associates Dallas Fort Worth represented the Landlord, Industrial Realty Group. 

James Ewing of Colliers International DFW, Cam Kucic of Colliers International Indianapolis represented the Tenant, Sage Plastics, Inc.

Hartman announces two leasing transactions in Richardson and Houston

Posted on by Mia Goulart

Hartman has recently announced two new leasing transactions:

  1. Tselot LLC renewed 2,200 square feet at 100 S. Central Expressway in Richardson. Alan Vieyra represented the landlord, Hartman Income REIT. 
  2. Texas Commercial Insurance Specialist, Inc. Renewed 2,243 square feet at 1001 S. Dairy Ashford in Houston. Kacie Skeen represented the landlord, Hartman Income REIT. 
  • 1001 S Dairy Ashford, Houston, TX
  • 100 S. Central Expressway, Richardson, TX

Resia closes on construction financing for a new multifamily community in Houston

Posted on by Mia Goulart

Resia has closed on construction financing for a 573-unit apartment community located in the city of Houston, Texas. Santander Bank led the senior financing with Valley Bank participating, and Artemis Real Estate Partners provided preferred equity. The total financing amounted to $96.5 million for the project, which is one of several brand-new Resia developments as the company continues to develop throughout Texas, Georgia, and Florida. The project broke ground in the Q2 of 2022, is expected to begin leasing in Q4 of 2023, and be fully delivered by Q2 of 2024.

Located directly across from the Houston Methodist West Hospital, Resia Ten Oaks will deliver 573 units across three 12-story high-rise buildings.  Resia Ten Oaks will offer one-bedroom, two-bedroom, and three-bedroom floor plans.  Apartments will feature modern finishes, stainless steel appliances, and in-unit laundry.  Built with young professionals and families in mind, Resia Ten Oak’s well-designed amenities include assigned parking, a business center, and a multipurpose clubhouse complete with a swimming pool and fitness center.  

MMG acquires Independence Commercial Advisors

Posted on by Mia Goulart

MMG Real Estate Advisors (MMG), a multifamily investment sales brokerage firm, announces the acquisition of Independence Commercial Advisors. Based in Texas, the boutique brokerage was founded in 2020 by industry veterans J. Michael Watson and J. Michael Moffitt with a focus on Texas private capital and institutional multifamily and self-storage brokerage.

With the mission of helping clients create and preserve wealth, Independence Commercial Advisors has garnered a reputation for integrity and client success in the multifamily space. “We’ve always seen ourselves as true advisors to our clients, and that is clearly a shared value with the team at MMG,” Mike Moffitt said. “We were highly impressed with the resources MMG has assembled and even more impressed with the collaborative team the firm has amassed, with each member bringing their collective knowledge to bear for the greater good.”

As part of the transaction, MMG has added eight investment sales advisors to the firm’s rapidly growing national roster with offices now in San Antonio, Austin, Houston, and Dallas. Managing Directors Mike Watson & Mike Moffitt join the firm, along with Senior Directors Mark Diebold, Nicholas Ling, Josh Murphy and Richard Mireles and Associate Advisors Tyler Salter and Alex Thompson. In addition, Senior Project Manager Evelyn Pinner has joined MMG’s growing operations team from Independence.

Mike Watson has been a market leader in the central and south Texas commercial real estate markets for over 20 years. He started his career in commercial real estate in the Austin office of Marcus & Millichap specializing in multifamily investment sales and later in executive management of many of the firms’ regions. He was the No. 1 producing agent for the Austin and San Antonio regions, routinely recognized as one of the state’s “Top 10 Producers,” and received numerous national sales awards. Over the course of his career, Mike has led the sales and marketing efforts for more than $3 billion in investment sales and financing transactions.

With over 30 years of experience, Mike Moffitt has personally represented buyers and sellers in the sale of multifamily, retail, office, industrial, hospitality and self-storage assets throughout Texas. In 2010, he joined Marcus & Millichap where he climbed the ranks before being named first vice president of Investments in 2017. During his tenure, Mike was a National Achievement, Sales Recognition, and Platinum Award winner. Over the years, Mike has been instrumental in helping family-owned private offices, regional syndicators, and individual private clients to form acquisition and disposition strategies.

Syndicated Equities acquires Oncor office building in Fort Worth

Posted on by Mia Goulart

Syndicated Equities (Syndicated) is pleased to announce an investment in the Oncor, an office building that will be converted to multifamily located in downtown Fort Worth, Texas.

The property will be redeveloped by 3L Real Estate, a Chicago and Dallas-based developer that specializes in the adaptive reuse of converting urban office buildings to residences. The property consists of a 314,514-square-foot, 16-story office building and a four-story addition. Once complete, it will feature 330 units with Class A amenities including a gym, pool, rooftop deck, and business center.

Syndicated acquired the property alongside 3L Real Estate.

Dickies officially finds new headquarters in Downtown Fort Worth

Posted on by Mia Goulart

One of the world’s leading performance workwear brands has found a new headquarters in the heart of its originating Texas city thanks to Stream Realty Partners.

Dickies, a top work apparel manufacturer founded in Fort Worth, has signed a lease at 500 Taylor St. in Downtown Fort Worth to serve as its new world headquarters. Dickies will occupy approximately 84,000 square feet at the six-story, mixed-use building. 

SADA Capital Partners, a Downers Grove, Illinois-based capital and asset management company, and SADA Tower LLC, a Texas limited liability partnership, purchased 500 Taylor St. (Tower Annex) and 500 Throckmorton St. (The Tower) in June 2022. 

Stream Executive Vice President Chris Doggett and Senior Associate Cullen Donohue represented the landlord in the transaction. Vice Chairman Randy Cooper and Vice President Wills Bauer of Stream represented the tenant. Stream is a national real estate services, development, and investment firm with a growing office in Downtown Fort Worth.

Dickies has occupied space at 509 W. Vickery Blvd. as a manufacturing facility and adjacent retail store for years.  

Dickies’ new headquarters will include space for office personnel, research, and design. 500 Taylor is a part of The Tower development, offering office and retail space with a 295-unit high-end condominium development directly above. Both properties were built in 1972 and redeveloped in 2005 after a tornado struck Downtown Fort Worth. The properties feature on-site property management and six restaurants. 

SADA Capital Partners plans to upgrade the building’s facade and add new finishes and lighting along 4th Street as it seeks new retail tenants in 2023. 

Mark Dabney of BOKA Powell is leading design on the project’s exterior improvements. 

Fort Worth Tower and Tower Annex are the first purchases SADA Capital Partners has made in Texas. 

Dickies is the largest new tenant signed in Downtown Fort Worth since Oncor relocated to 777 Main St. in 2020, according to Doggett. The company’s lease will absorb the third largest contiguous block of available office space in the Downtown submarket, which has seen a host of activity. The submarket recently saw Texas A&M announce plans to expand its current campus to 675,000 square feet and Apex Financial relocate its headquarters to 60,000 square feet in the Bank of America Tower. 

Stream Fort Worth has an office leasing and property management portfolio with more than 2.2 million square feet. The team has grown to 23 employees since the office in Frost Tower opened in 2015.