StreetLights Residential Opens The Louise in Arlington

StreetLights Residential, a Dallas-based national design-driven developer of multifamily and mixed-use communities, has completed The Louise, the second phase of the luxury multifamily community within Viridian. Located conveniently between Dallas and Fort Worth, the master-planned community spans 2,000 acres complete with access to five major lakes, trails and local shopping and event venues. StreetLights completed the project’s first phase, The Jackson, in 2021, becoming the first multifamily community within Viridian.

The Louise has 343 luxury apartment homes with studio to three-bedroom floor plans, ranging from 588 to 1,674 square feet. Interior finish out includes granite countertops, tile backsplashes, deep drawers for pots and pans, custom flooring, dine-in island seating, urban mudrooms, custom cabinetry including a pull-out trash drawer, spa-inspired bathrooms, oversized walk-in closets, energy efficient washer and dryer, conduction stovetop, and built in Sonos speakers. Select units also offer smart home features, all hard surface flooring options, oversized outdoor living spaces and screened porches.

The Louise also has 32 townhomes averaging 1,902 square feet. Townhome features include, two-story layouts with a two-car garage, powder bathroom on the first floor, walk-in pantry en suite primary bathroom with double vanity, stone countertops, custom cabinetry and stainless steel appliances and wood-style flooring.

The community’s interior common area spaces were designed to foster an inviting, comfortable environment for residents to gather, while offering a variety of interior and exterior amenities including a lounge with co-working spaces, a private resident library, a conference room, an art studio for art classes and personal projects, a full fitness center featuring high-end cardio and strength equipment, a flex room with spin bikes, fitness echelon mirror and ballet bar, outdoor lawn for yoga and exercise, golf simulator, pet park and pet spa, bike storage, a clubroom with a TV and kitchen to host gatherings and private dining spaces for intimate dinner parties. The Louise also features an expansive pool and outdoor courtyard with lounge and entertaining spaces.

Residents have access to all that Viridian has to offer, including over 500 acres of lakes, rivers, streams, and wetlands, as well as extensive jogging and hiking trails to explore, as well as proximity to DFW airport. The Louise is also located just minutes from dining and entertainment options including Texas Live!, Globe Life Park and AT&T Stadium, offering easy access for residents who want to enjoy local amenities.

StreetLights Creative Studio served as the architect of record and handled all interior design. SLR Construction, LLC, served as the general contractor.

West Fort Worth Retail Center Trades to Mazaheri Properties

JLL Capital Markets has closed the sale of The Shops at Chisholm Trail Ranch, a 213,416-square-foot retail center in Fort Worth, Texas.

JLL marketed the property on behalf of the seller, Street Level Investments, and Mazaheri Properties acquired the asset. Phillip Mazaheri with Price Edwards & Company represented the buyer.

The Shops at Chisholm Trail Ranch is a 97.5% occupied, newly constructed center currently leased to a wide range of tenants, including Studio Movie Grill, Ulta, Old Navy, Ross, Marshalls, Tuesday Morning, Five Below, Famous Footwear, Pet Supplies Plus, James Avery and Crumbl. The center benefits from 1.7 million visits annually with customers visiting an average of six times per year.

Situated at SEC Chisholm Trail Parkway and McPherson Boulevard, the property is part of Chisholm Trail Ranch, a 600-acre master-planned community located in Southwest Fort Worth. The center is 13 miles from Downtown Fort Worth, 9.4 miles from Texas Christian University and 3.1 miles from Tarleton State University. Additionally, almost 500,000 residents are within a five-mile radius of the center and earn an average income of almost $90,000. The immediate trade area has grown substantially with the opening of the Chisholm Trail Parkway toll road, and buying power is expected to increase 19% over the next five years.

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Chris Gerard and Barry Brown and Analyst Matthew Barge.

Dallas-based Investor Picks up Fort Bend County Self-storage Facility

JLL Capital Markets has completed the sale of Savannah HWY6 Self Storage, a 678-unit, recently completed self-storage facility in Rosharon, Texas.

JLL represented the seller, Quintet Capital Group, in the sale of the property to Dallas-based Montfort Capital Partners.

Completed in September 2022, Savannah HWY6 Self Storage consists of six single-story storage buildings and 900 square feet of office space. The Class A facility is 75% climate-controlled and offers drive-up units, cylinder locks, gate access and on-site management.

Savannah HWY6 Self Storage is positioned on a 6.14-acre site at 14215 Hwy 6 in Fort Bend County, which is the fastest-growing county in the U.S. The property has excellent visibility to Hwy 6, which offers visibility to more than 30,000 vehicles per day. The immediate area surrounding Savannah HWY6 Self Storage has seen rapid population growth and commercial development over the last 20 years, including 3,000 new homes to be delivered in Sienna Plantation South.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Steve Mellon and Brian Somoza, and Directors Adam Roossien and Matthew Wheeler.

Colliers Mortgage Closes Fannie Mae Loan for The Edmond in Waco

Fritz Waldvogel of Colliers Mortgage’s Minneapolis office closed a Fannie Mae loan for a repeat client for the refinancing of The Edmond in Waco, Texas. The 124-unit market rate property was constructed in 1967 and includes 10 two-story garden-style buildings and two one-story maintenance/storage buildings. Community amenities include a courtyard, BBQ/picnic area, covered parking, on-site management, pool, package receiving, clothes care center, on-site maintenance, and surveillance camera system.

The loan was arranged through a partnership with Old Capital Lending and carries a 10-year term.

Fritz Waldvogel of Colliers Mortgage’s Minneapolis office closed a Fannie Mae loan for a repeat client for the refinancing of The Edmond in Waco, Texas. The 124-unit market rate property was constructed in 1967 and includes 10 two-story garden-style buildings and two one-story maintenance/storage buildings. Community amenities include a courtyard, BBQ/picnic area, covered parking, on-site management, pool, package receiving, clothes care center, on-site maintenance, and surveillance camera system.

The loan was arranged through a partnership with Old Capital Lending and carries a 10-year term.

SHM Architects Signs 12,000 SF at the Meadows Building

Transwestern Real Estate Services (TRS) announces SHM Architects, PLLC, a Dallas-based design firm, has signed a new, long-term 12,218-square-foot lease in the historic Meadows Building at Energy Square, a 170,000-square-foot office building located at 5646 Milton St. The firm moves to the top floor of the building, relocating from the Knox District. Transwestern’s Michael Griffin and Ethan Minter represented the tenant in lease negotiations.

SHM Architects, PLLC is a boutique design studio founded in 2005 in Dallas by David Stocker, Mark Hoesterey and Enrique Montenegro. In 2019, SHM launched its first satellite studio in Crested Butte, Colorado, reflecting a sustained commitment to servicing clients across the Mountain West region.

With more than 1.1 million rentable square feet spread out over five buildings, including the Meadows Building, Energy Square recently underwent a renovation that includes a state-of-the-art 10,000-square-foot fitness center, conference center, tenant lounges, revamped delis, campus park and outdoor deck. Completed in 1955, the Meadows Building was the first suburban office tower in Dallas and originally served as the headquarters for the General American Oil Company.

Jeff Eckert, Blake Shipley, Haley Hullett and Ayanna Jarvis with JLL represented the landlord, GlenStar and USAA Real Estate.

According to Transwestern research, pervasive flight to quality continues driving asking rent growth higher in quality Class A properties. Last quarter, full-service rents reached $43.92 per square foot, up 7.6% from last year.

Sale of Newly Completed Industrial Building in Northeast Dallas Closes

JLL Capital Markets announced today that it has closed the sale of the Logistics Center at McKinney Building B, a Class-A, 301,796-square-foot industrial building in McKinney, Texas.

JLL represented the seller, a joint venture between Thor Equities Group and Morgan Stanley, in the sale to AC Industrial Properties LLC.

Logistics Center at McKinney Building B is a rear-load building featuring 32-foot clear heights, 130-foot truck court, 52 overhead doors, two drive-in doors and 190 parking spaces.

The property is situated on 16.82 acres at 350 Cypress Hill Drive with direct access to Dallas-Fort Worth and Texas’s major commercial hubs via U.S. 75, Highway 380 and State Highway 121. As a result, Logistics Center at McKinney Building B is within 20 miles of 1.46 million residents. Furthermore, the building is located five miles from McKinney National Airport.

Logistics Center at McKinney Building B benefits from its position in the Northeast Dallas Industrial submarket, which accounts for approximately 20% of the submarket’s total inventory. Vacancy within the submarket is now below the market average. Most new development is occurring in the outlying areas of the submarket, such as McKinney and Frisco. Last-mile tenants are relocating to these fast-growing suburbs following the population growth that has occurred over the past two decades.

The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and Analyst Pauli Kerr.