RECON for February 21, 2023RECON for February 21, 20232023-02-21T06:00:00Z2023-02-21T06:00:00Z
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February 21, 2023

JV sells 242K-sf Denton industrial property

​​​​DENTON (REBusiness Online) – Denton Point, a 242,320-sf industrial property on 18.6 acres at 451 S. Western Blvd., has been sold to Westcore.

The newly constructed buildings have rear-load configurations, 32-ft clear h​eights, ESFR sprinkler systems, 86 trailer parking spaces, and dock-high loading doors.

Denton Point was fully leased to DHL, Lowe's Home Center, and Muenster Milling at the time of sale.

The seller was a joint venture between TA Associates and Holt Lunsford. CBRE brokered the deal.​
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Turning older office space into residential space is becoming a popular option in densely populated cities. However, converting such space is complicated, so building owners and developers need to consider the structural, environmental, legal, and financial issues involved. Read more.

Skanska USA tops out on 28-story office tower 

​​​HOUSTON (Houston Business Journal) – Skanska USA has topped out on 1550 on the Green, a 28-story office tower.

The 375,000-sf building at 1550 Lamar St. will have 7,000 sf of ground-floor retail space and a top-floor event space with outdoor terrace.

Amenities will include a fitness center and outdoor terraces on the 12th and 20th floors. 

Law firm Norton Rose Fulbright will be the anchor tenant, occupying 32 percent of space when it relocates in 2024. 
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The English-Spanish Real Estate Glossary defines, translates, and explains 787 real estate terms. Just click on the translated term and hear it spoken in Spanish. It's a must-have for anyone with Spanish-speaking real estate clients. 

Work to start on Austin residential complex in June

​​​​​AUSTIN (Connect CRE) – Hines will start work on Four Seasons Private Residences Lake Austin on June 1.

The community will have 179 units across six buildings. Offerings range from 1,900-sf pieds-à-terres to 3,000-sf​ penthouses.

Prices start at $4 million.​

Amenities will include an athletic center, spa, private restaurant, pool, indoor basketball court, two golf simulators, and four pickleball courts.

The $830 million community will be complete before the end of 2026.
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Eastside Commerce Center construction underway in Austin

​​​​AUSTIN (REBusiness Online) – Stream Realty Partners has begun work on Eastside Commerce Center, a 413,388-sf industrial project.

The 60.2-acre site​ will consist of seven buildings ranging from 26,440 to 109,572 sf. Buildings will have 28- to 32-ft clear heights. 

The project will include 630 parking spaces.

Completion is slated for first quarter 2024.
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$11.4B LNG project slated for Brownsville

​​​​​BROWNSVILLE (Rio Grande Guardian) – NextDecade is developing a 984-acre infrastructure site for a liquefied natural gas (LNG) export terminal.

The terminal will be able​ to produce 127 million metric tons of low carbon intensive LNG.

The $11.4 billion project is privately funded.​​
Magnifying glass in librarySearching for reliable and accurate real estate and economic papers can be time consuming. The Texas Real Estate Research Center is here to help. Access our Research Library for a nearly endless database of economic reports, research articles, and technical papers. Get it all in one place completely free. 

Music electronics company inks lease in Brookshire

​​​​​BROOKSHIRE (BisNow) – Sound Around Inc. has leased a newly constructed building in Kingsland 10 Business Park. 

The tenant will occupy ​the entire 164,000-sf building at 30910 Kingsland Blvd.

Transwestern represented the tenant.
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258K-sf Houston lease brewing for coffee processing company

​​​​HOUSTON (Houston Chronicle) – Cadeco Industries has leased a 258,450-sf warehouse on 10.5 acres at 1211 Kress St.

Cushman & Wakefield represented the landlord. Colliers represented the tenant.
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