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Showing posts from February, 2018

DFW Sales & Leases

SOLD

Madera Residential purchased a 176-unit multifamily property, Woodway on the Green at 6201 Woodway Drive in Fort Worth, from an unnamed local private investor. Marcus & Millichap’s Al Silva, Mark McCoy and Ford Braly represented the seller and secured the buyer.

A local investment partnership purchased 9,200 SF and 18K SF of land at 4433 McKinney Ave. in the Knox/Henderson neighborhood from a private partnership. The sale was brokered by Henry S. Miller Brokerage’s Lane Kommer.

Quine & Associates' Brad Quine negotiated the sale of the 77K SF Benbrook Shopping Center at Highway 377 and Cozby South Street in Benbrook.

A private investor purchased Shoppes at Mineola, a 15K SF retail property in Mineola, from an unnamed LLC. Marcus & Millichap’s Philip Levy represented the seller and secured the buyer.

ZM Briercroft II LLC purchased a 38K SF property at 1730 Briercroft Court in Carrollton from Rebel Trace L.P. Mercer Co.’s Keenan Cook represented the buyer. Hudson Peters …

Cap Rate Survey - End of 2017

Commercial real estate pricing was broadly unchanged in H2 2017, with the exception of some retail segments.
Industrial cap rates fell by 13 basis points (bps) to 6.52%. No segment of the industrial market failed to compress.
Multifamily infill cap rates fell to 5.23% on average from 5.27% in H1. Stabilized suburban assets also declined to 5.59% from 5.66%.
Office sector cap rates were generally stable, but CBD assets fell slightly to 6.65% from 6.67%. Cap rates for hotels were firm.
Retail cap rates increased, with power centers moving to 7.98% from 7.54%. Neighborhood and high-street retail cap rates increased slightly by 7 and 9 bps, respectively.Source: CBRE Research

Downtown Jail May Convert to Homeless Shelter - Mehrdad Moayedi of Centurion American Development

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Mehrdad Moayedi, one of the largest developers in Texas, who successfully restored the landmark Statler Hotel and promises to do more of the same to The Cabana Hotelis trying to give Dallas a gift of sheer love: a home for our homeless. Mehrdad has made an offer to buy the vacant Dawson State Jail that is sitting downtown on the banks of the Trinity River. Moayedi says he wants to turn the 10-story building into a housing and services center for Dallas’ homeless population. This is the best idea ever, and one I have actually had for years. In fact, I can say that this idea got me into City politics when I first started emailing my councilman, Lee Kleinman, about it. Mehrdad is CEO of Farmers Branch-based Centurion American Development Group. He owns vast tracts of developments across the North Texas landscape, including The Stoneleigh Residences, the Cabana Hotel, and of course, the Crespi Estate that he purchased in December from Andy Beal via Concierge auction. His firm just comp…

Cypress Real Estate Advisors Inc. is developing a 294-unit apartment

Cypress Real Estate Advisors Inc. is developing a 294-unit apartment community at 4600 Ross Ave.

The 3.8-acre site previously housed the headquarters of the Dallas Teachers Credit Union and the Credit Union of Texas. Transwestern brokered the land sale.

Work will start on the project this quarter with a target completion date in early 2020. 

Oden Hughes Taylor Construction is the general contractor. JHP Architects designed the community.

Alliance Northport 3 Construction Starts in March

Ross Perot Jr.'s Hil lwood will begin construction on an over one million-sf distribution hub at the new Alliance Northport development.

Called Alliance Northport 3, the building will be the first in the 260-acre industrial development at I-35W and SH 114.

RGA Architects is the project architect, and Peloton Land Solutions is the civil engineer. Bank of America is the lender on the construction loan.

Construction will begin the week of March 5. Completion is slated for third quarter this year.

10 Acres Developable Land, Buildings & Award Winning 30 Yr (BBB A+) Landscape Co. On State Highway 377 & 1187

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