Billingsley Co. announced this week that Florida-based Sherwood Bedding, a private-label mattress manufacturer owned by Tempur Sealy, has signed a 10-year lease for 234,395 square feet at Tittle Drive and Plano Parkway in Austin Ranch–a 1,700-acre mixed-used development. Construction on the new warehouse will begin in February 2022 and is projected to be completed by March 2023.
“Sherwood bedding has been a long-standing tenant of ours at another location and their robust pace of growth required that they move to a larger building,” said George Billingsley, partner at Billingsley Co. “We are honored to retain the relationship and partner with them on this build to suit development. With the strong market demand, we look forward to commencing on other new industrial developments in both Lewisville and Denton in the near future.”
Damian Rivera of ESRP represented the tenant in negotiations with Billingsley. Gordan Highlander was chosen as the general contractor for the project.
EastGroup Properties recently broke ground the first phase of McKinney 121 at 4400-4500 South Hardin Boulevard in McKinney. The two-phase project will feature two Class A industrial buildings totaling 212,200 square feet. DFW Lee & Associates’ Ken Wesson, Adam Graham, and Brett Lewis will be the leasing agents for the project.
Matsing Inc. renewed and expanded into 12,439 square feet at 651 N. Plano Road in Richardson. Jay Benner with Cushman & Wakefield represented the tenant, and Lynna Smith with Hartman Income REIT represented the landlord.
ZMR Capital has acquired Pecan Square, a 440-unit apartment complex at 3535 Webb Chapel in Dallas. It also picked Bayou Bend, a 308-unit property at 3353 Lombardy Lane. The deals bring ZMR’s footprint in Texas to 2,500 units. The company will begin a multimillion-dollar capital improvement plan at the properties that will include upgrades to unit interiors with new appliances, vinyl plank flooring, kitchen cabinets, and tile back splashes.
Magma Equities has teamed up with Cincinnati-based Viking Partners to acquire two apartment communities–Verandas at City at 7301 Oakmont Blvd. in Benbrook and Vista Azul at 2911 Clydedale Drive, 10 miles north of downtown Dallas. Combined, the properties have total 562 units. Magma expects to close on three more properties before the end of the year.
Institutional Property Advisors, division of Marcus & Millichap, has sold The Jameson at the Bluffs, a 387-unit apartment complex in Fort Worth. Built on nine acres in 2021, the property’s average unit size is 784 square feet.
Marcus & Millichap sold Plano Pediatric located at 7000 W Plano Pkwy in Plano. Ron Herbet and Joseph Jaques procured the buyer for this off-market transaction. The seller was a health care institutional owner.
Rainbow Days leased 5,712 square feet at 12221 Merit Drive in Dallas. Jarrett Dunaway with ESRP represented the tenant and Yvette Rodriguez represented the landlord, Hartman Income REIT.
Armstrong Douglass Partners leased 3,283 square feet at 12655 N. Central Expy. in Dallas. Cribb Altman with JLL represented the tenant and Yvette Rodriguez represented the landlord, Hartman Income REIT.
The City of Grand Prairies has broken ground on its new EpicCentral complex. Designed by Merriman Anderson Architects, it includes six restaurants and two new hotels–a Hilton Garden Inn and a Homewood Suites. Concord Hospitality of Raleigh North Carolina will flag and operate both venues. The restaurants will open in 2022 and the entire complex will be up and running in 2023. A convention center connected to the hotels will feature a 10,000-square-foot ballroom with seating capacity for 1,000.
Marcus & Millichap sold a 24,400-square-foot Dollar Tree located at 1201 E. FM 1187 in Crowley. Philip Levy had the exclusive listing to market the property on behalf of the seller, a developer. The private investor buyer was also secured by Levy.
Burke’s Outlet has leased 18,052 square feet at Ennis Crossroads at 1011 E Ennis Ave. in Ennis. Chris Flesner and Brian Sladek of RESOLUT RE represented the landlord. Jennifer Reynolds of Winc Retail represented the tenant.
Marcus & Millichap sold the 9,288 square foot Dollar General located at 16708 FM 1485 in Conroe. Vincent Knipp had the exclusive listing to market the property on behalf of the private investor seller. The private investor buyer was also secured by Knipp.
STRIVE sold a 8,700 square foot four-tenant retail center MacArthur Court One located at 7400 N MacArthur Blvd. in Las Colinas. Hudson Lambert and Adam Gottschalk of STRIVE exclusively represented the seller, a local Dallas investor, and cooperated with an outside broker to source the buyer, a Texas investor.
Marcus & Millichap sold the 6,100-square-foot Anytime Fitness located at 203 Laurence Drive in Heath. Vincent Knipp represented Marcus & Millichap in the sale to a private investor.
Sugaring NYC has leased 1,500 square feet at Tuscan Town Square at 1061 N Coleman St, Prosper. Gavin Fite of RESOLUT RE represented the tenant. Luke Brown and Jennifer Rushton of Brown & Griffin Real Estate Advisors represented the landlord.
Ariat, a California-based Western performance and lifestyle brand, is opening a new retail store in Mule Alley at the Fort Worth Stockyards. “We are building an unparalleled, one-stop destination for the ultimate Western heritage brands at Mule Alley, and Ariat is the perfect addition to our tenant mix,” said Majestic Realty Executive Vice President Craig Cavileer. Earlier in 2021 Ariat expanded its Texas operations with a regional distribution center in Fort Worth.
First reported by Ben Swanger, D Magazine. Read more…
View all real estate news stories here…