Hillwood Communities to build new $1.5B master-planned community in DFW

Hillwood Communities, a division of Ross Perot Jr.‘s Hillwood, has closed on its largest residential development yet — a 1,157-acre tract near Interstate 35W and FM 407 in Northlake that will bring more than 3,000 homes to North Texas.

The $1.5 billion mixed-use, master-planned community, called Pecan Square, is slated to get underway next spring, with the initial phase bringing 609 home lots to the region.

The houses will be priced from $270,000 to the $500,000s upon completion, depending on lot and home sizes. Pecan Square will also include commercial real estate uses in the future.

Click to read more at Dallas Business Journal. 

Granite Properties’ $77M project bringing new life to historic West End neighborhood

When two of Granite Properties Inc.’s top leaders — Chief Investment Officer Bill Brown and President and COO Greg Fuller — began walking the newly finished floors inside the 104-year-old brick-and-timber building in the West End, they had to remind themselves they were in Dallas.

“I can’t think of any other office project in Dallas or Texas that has this feel,” Brown told the Dallas Business Journal. “This is like a building you’d find in New York or San Francisco or Boston. It’s got a really cool urban-city vibe that is really unique.”

Click to read more at Dallas Business Journal. 

Houston-area developer readies new $140M senior living community in Fort Worth

Methodist Retirement Communities, a nonprofit organization based in The Woodlands, is putting plans together to close on a 19-acre tract in southwest Fort Worth, which will make way for a new $140 million senior living community.

The development group is awaiting city approvals before closing on the land, located off Chisholm Trail Parkway at Bryant Irvin and Altamesa boulevards within Tavolo Park. Tavolo is a $1 billion mixed-use development being built by Dallas-based Provident Realty Advisors.

The new community, called Stevenson Oaks, will bring 259 homes with a variety of living options and varying levels of care.

Click to read more at Houston Business Journal. 

Why this real estate brokerage firm decided to head downtown to one of Dallas’ tallest skyscrapers

Global real estate brokerage firm Savills Studley plans to relocate its growing North Texas home base in one of Dallas’ tallest skyscrapers, which will help it cover a massive region as it recruits top talent into its ranks.

The brokerage firm, which is a division of London-based Savills PLC (SVS.L), has signed a lease for 8,100 square feet, or the entire 48th floor of Chase Tower at 2200 Ross Avenue in downtown Dallas.

“Like the North Texas office market and border economy, the roster of talented professionals and transaction activity within our firm’s Dallas office has experienced significant growth in recent years,” said Frank McCafferty, executive managing director and the co-branch manager of the firm’s Dallas office.

Click to read more at Dallas Business Journal.

9Round Makes First Foray Into Carrollton, Texas

CBRE announces that 9Round, the world’s fastest-growing 30-minute kickboxing fitness studio, has signed a lease for 1,200 square feet at 1517 W. Hebron Parkway in the Victory Shops II at Hebron retail center in Carrollton.

9Round offers members a 30-minute, full-body workout with personal trainers to provide guidance through each of the 9 rounds. Each workout consists of cardio, weight training, abdominal exercises and kicks and punches on 100-pound, double-end, upper cut and speed bags. Expert nutritional guidance with meal plans along with progress tracking are available through the fitness studio’s online member portal. There are no class times as workouts begin every 3 minutes and change on a daily basis.

Co-owners Jordan Scott and Kyle Redinger bring a unique skill set to the 9Round franchise, as they are both former professional baseball players with the Houston Astros organization.

“With over 500 locations nationwide, 9Round is an incredibly fast-growing business and they will have great success at this new location in Carrollton,” said Andrew Barnes, Associate, CBRE Retail Services. “Located near the intersection of Highway 121 & Hebron Parkway, the new location will have ideal visibility from a high-traffic area, which will increase market exposure for their brand. I am excited for the future ahead for 9Round Victory Shops II at Hebron.”

The studio is set to open in December. Membership pre-sales are available now through the 9Round website. This will be Mr. Scott’s second 9Round location in the Dallas-Fort Worth Metroplex. He also owns the 5017 W. Plano Parkway location in Plano, Texas.

“We are excited to expand our business into the Carrollton market,” said Mr. Scott. “We saw a need for fitness studios in the area that work with every type of schedule and we are excited to offer Carrollton residents the opportunity to experience all that a fun and high-energy 9Round workout has to offer.”

Mr. Barnes with CBRE in Dallas assisted with site selection and represented 9Round in lease negotiations.

 About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue).  The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide.  CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.  Please visit our website at www.cbre.com.


JLL secures sale of North Texas industrial asset

Market demand drives industrial acquisition in Richardson, Texas

Dallas, November 9, 2017 – JLL announced today the firm has successfully negotiated the sale of an 82,445 square foot industrial asset. The property is located at 1301 Apollo Road in Richardson, Texas near US Highway 75.
JLL Craig Phelps represented the buyer, Baker Triangle, in the transaction. NAI Robert Lynn’s Kimberly Mathis, Michael Stanzel and John Simons represented the seller, The Richardson Trident Company.
Dallas’ industrial market remains below its historic vacancy numbers at 7.3% in 2017 with 12.9 million square feet of absorption through Q3,according to JLL Research.