Corpus Christi, Texas — Developer Ashlar Development LLC and owner Diamond Beach Holdings LLC have broken ground on Whitecap NPI, an $800 million master-planned community on North Padre Island in Corpus Christi. The 240-acre development will serve as the first and only coastal luxury residential and resort destination on the island, according to the development team. Upon full build-out, Whitecap NPI will feature over 600 residential options, including single-family homes, villas, condos and cross-generational housing. The homes, many with canal access for boating and water sports, will be situated in …
Texas
Fort Worth, Texas — LanCarte Commerical has arranged leases totaling 19,745 square feet at The Westcliff Shopping Center, a retail center located in Fort Worth. New tenants at the property include Cowtown, Specialist Jewelry Clinic, Fort Worth Dance Academy and Organized Nest. Ben Gehrke and Riley Dow of LanCarte represented the landlord, CTO Realty Growth Inc., in the leasing negotiations.
McKinney, Texas — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5 million acquisition loan for an undisclosed retail property located in the northern Dallas suburb of McKinney. A medical clinic and dollar store anchor the property, which was built in 2020. Adam Pike of MMCC arranged the debt.
Lewisville, Texas — Axiom Capital Corp. has arranged a $6.4 million permanent, fixed-rate loan for the acquisition of a single-tenant retail property located in Lewisville, roughly 30 miles northwest of Dallas. A specialty grocer occupies the 48,427-square-foot building, which is situated on 3.2 acres.
Dallas — Dallas-based discount home goods retailer Tuesday Morning is going out of business and closing all of its stores. The company’s website lists a going-out-of-business sale where consumers can save up to 30 percent off all items. The retailer has about 200 stores remaining in 25 states. The news comes just one week after Bed Bath & Beyond’s announcement of its closure. Tuesday Morning struggled throughout the pandemic, filing for Chapter 11 bankruptcy protection in May 2020. At that time, the retailer shuttered about 230 of its 687 stores. …
Houston — Three tenants have signed leases at Plazas at Midtown II, a shopping center located in Houston. Dough Zone Dumpling House will open a 4,503-square-foot restaurant at the property, marking the brand’s first Texas location. Additionally, nightclub Clover has opened a 1,848-square-foot space, and Upscale Cleaners will open an 824-square-foot location. Fifth Corner is the landlord.
Dallas —Triten Real Estate Partners has completed the redevelopment of Work/Shop, a mixed-use property in Dallas that features 135,000 square feet of office space and 81,500 square feet of retail, restaurant and entertainment space. Work/Shop also houses 30,000 square feet of open and green space with views of the Prestonwood Country Club. Renovations included updates to retail spaces, and CBRE has been tapped to lease the renovated office space.
Houston — Puttshack has opened a 26,000-square-foot center at The Highlight at Houston Center, a retail and office complex located in the city’s downtown area. The venue offers four nine-hole minigolf courses, two bars serving craft cocktails and beers, a formal dining area and a private event space that can accommodate more than 100 guests. Brookfield Properties owns The Highlight, which also houses an Immersive Gamebox entertainment center.
Houston — LEVCOR has signed four new tenants to Post Oak Plaza, a shopping center located in Houston. Restaurants Rakkan Ramen and Tacodeli will occupy 1,856 and 2,833 square feet, respectively. Additionally, Kohler will open a 4,038-square-foot kitchen and bath showroom, and Bassett Furniture will occupy 9,597 square feet. Previously announced tenants scheduled to open this year include Nando’s Peri Peri, Balboa Surf Club and Bosch/Thermador/Gaggenau.
Matthews Brokers $20.1 Million Sale of Napa Auto Parts Portfolio
Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.