San Antonio firm sells two North Texas multifamily properties for $100M

San Antonio-based SWBC Real Estate LLC sold two North Texas multifamily properties to a Virginia-based real estate firm as part of a $100 million package.

The properties, called River Walk Village and Timberview Ranch, were sold to Weinstein Properties, which owns and manages more than 17,000 multifamily units in Virginia, North Carolina and Texas. The transaction was brokered by Will BalthropeDrew Kile and Joey Tumminello of Institutional Property Advisors, a division of Marcus & Millichap (NYSE: MMI).

Click to read more at Dallas Business Journal. 

Global developer bringing luxury lakeside living to Lake Grapevine

By next year, global developer Greystar expects to finish construction on a new luxury apartment and townhouse community adjacent to Lake Grapevine in Flower Mound, which will bring 426 apartments and 40 townhouses to Dallas-Fort Worth.

The 13-acre multifamily community, called Elan Flower Mound, will sit lakeside of Lake Grapevine at 2601 Lakeside Pkwy. in Flower Mound. The community has been under construction since September 2016.

Along with Elan Flower Mound, Greystar has been readying two high-profile developments in Dallas for construction in early 2018.

Click to read more at Dallas Business Journal. 

Mercedes-Benz to develop new financial services hub in Fort Worth’s AllianceTexas

Luxury automaker Mercedes-Benz plans to keep its financial services hub — as well as 900 direct and indirect jobs — in Fort Worth with the help of a new 200,000-square-foot build-to-suit facility at AllianceTexas.

Mercedes-Benz Financial Services USA LLC has signed a lease for the new built-to-suit facility, which will serve as the company’s national business operations center. The new operations center will be built within a mile of its existing hub.

The soon-to-be-built operations center will help reshape the way Mercedes-Benz Financial Services’ employees work, said Peter Zieringer, president and CEO of Mercedes-Benz Financial Services.

Click to read more at Dallas Business Journal. 

Dallas real estate firm unveils $9M upgrade to this North Dallas office tower

Dallas-based Stream Realty Partners, a real estate development, services and investment firm, unveiled $9 million in upgrades to a North Dallas office tower, which could help the ownership group snag some new office tenants.

The ownership group — a joint venture between New York Life and Dallas-based Encore Enterprises — decided to deploy a year-long renovation to the 24-story, 549,000-square-foot office tower to lure companies and employees to the property along LBJ Freeway near the Dallas North Tollway.

Click to read more at Dallas Business Journal.

SVN / Trinity Advisors Closes on Two Recent Industrial Deals

FORT WORTH – December 13, 2017 – James Blake and Carl Brown with SVN / Trinity Advisors recently represented the seller in closing on Eden Drive Warehouse, located at 5955 Eden Drive in Haltom City, TX.  

The industrial property is a 25,600 SF manufacturing warehouse built in 1973 on 0.98 acres of land in Haltom City, TX. It includes an office and production area with grade level and dock high loading doors.  

Blake and Brown represented the seller, the Estate of Charles R. and JoAnn Lewis. Rockin R Realty represented the buyer, ECD9S Properties LLC.   

“Since the market is hot right now for DFW industrial leasing, and the mid-cities area is one of the prime areas that industrial leasing is taking place, this property was in high demand,” Blake said. 

SVN / Trinity Advisor Steve Fithian represented the buyer of an industrial flex building with seven tenants at 1101-1121 Cornell Parkway in Oklahoma City, OK.

The industrial property is a 41,720 SF industrial flex building on 2.57 acres of land with 12 grade level doors and one dock high door. 

Fithian represented the buyer, OKWI, LLC, which is a partnership organized by Fithian to purchase quality investment properties for its partners. David Cook with SVN David Cook, LLC represented the seller. 

“This property is located in one of the best industrial areas in the Oklahoma Metro area and not far from where three major interstates cross,” Fithian said. “After looking at the financials and the occupancy rates, it quickly became apparent this was a fantastic investment opportunity.” 

SVN / Trinity Advisors is a full-service real estate investment and Accredited Management Company in Fort Worth, specializing in brokerage, leasing, consulting and property management throughout the Dallas / Fort Worth area. For more information, visit http://svntrinity.com.   

Rebekah Moore | Office Manager & Marketing Director

SVN | Trinity Advisors – An ACCREDITED MANAGEMENT ORGANIZATION® Firm
3000 Race Street, Ste. 100, Fort Worth, TX 76111 
Office 817.288.5525 | Fax 817.288.5585
Direct 817.288.5506 
rebekah.moore@svn.com | http://svntrinity.com

Fortune 500 Tenant Inks 28k SF Lease at Westridge Center

An undisclosed, NYSE traded/Fortune 500 tenant signed a new 27,574-square-foot lease at Westridge Center at 2020 Westridge Dr. in Irving. The tenant, a leader in the facility services industry, was represented by Fritsche Anderson’s Mike Quinn and Site Selection Group’s Lee Wagner. The landlord was represented by Carter Crow and Todd Jones at Younger Partners, which was brought on by asset management firm, ProEquity Asset Management, who has recently expanded into Texas.

For further information, please contact:

Tonie Auer
214.294.4406
14643 DALLAS PARKWAY, SUITE 950 LB #58
DALLAS, TX 75254
Tonie.Auer@youngerpartners.com