Texas

Landmark-By-Hillwood-Denton-TX
DevelopmentMixed-useNewsTexas

Hillwood Plans 3,200-Acre Landmark by Hillwood Mixed-Use Development in Suburban Dallas

by Hayden Spiess

Denton, Texas — Hillwood, a Perot company, has unveiled plans for Landmark by Hillwood, a 3,200-acre mixed-use project in the northern Dallas suburb of Denton. The project team includes Hillwood subsidiaries Hillwood Communities and Hillwood Properties. The plans call for 900 acres of commercial space comprising 5 million square feet of retail, hospitality and entertainment space, approximately 6,000 single-family homes and more than 3,000 multifamily units. The site, which is situated at I-35W and Robson Ranch Road, was previously known as Hunter Ranch. The parcel is one of the original land …

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Chuys-Restaurant-El-Paso-Texas
Company newsInvestment salesNewsRestaurantsTexas

Darden Restaurants Agrees to Acquire Tex-Mex Chain Chuy’s for $605 Million

by Hayden Spiess

Austin, Texas and Orlando, Fla. — Darden Restaurants (NYSE: DRI) has agreed to acquire Chuy’s Holdings (NASDAQ: CHUY) for $605 million in an all-cash transaction.  The Tex-Mex restaurant chain — which owns and operates 101 full-service restaurants across 15 states — will join Darden’s existing restaurant portfolio, which includes Olive Garden, LongHorn Steakhouse and Ruth’s Chris Steak House, among others.  Under terms of the merger agreement, Orlando-based Darden will acquire all outstanding shares of Chuy’s at $37.50 per share. The purchase price represents a 40 percent premium to the Austin-based company’s …

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Richardson-Heights_Richardson-Texas
Investment salesNewsTexas

JLL Arranges Sale of 201,433-Square-Foot Shopping Center in Metro Dallas

by Hayden Spiess

Richardson, Texas — JLL Capital Markets has arranged the sale of Richardson Heights, a 201,433-square-foot shopping center located in Richardson, roughly 15 miles outside Dallas. Constructed in the 1950s, the property was 79 percent leased at the time of sale. Tenants at the center include Alamo Draft House, T.J. Maxx and Half Priced Books. Adam Howells, Chris Gerard, Ben Esterer and Keenan Ryan of JLL represented the seller, Silver Star Properties REIT, in the transaction. JAH Realty acquired the property for an undisclosed price. 

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Victory-Shops-Heritage-Trace-IV_Fort-Worth-Texas
Investment salesNet leaseNewsTexas

Marcus & Millichap Brokers Sale of 11,492-Square-Foot Retail Center in Fort Worth, Texas

by Hayden Spiess

Fort Worth, Texas — Marcus & Millichap has brokered the sale of Victory Shops at Heritage Trace IV, an 11,492-square-foot retail center located in Fort Worth. Tenants at the property, which was fully leased at the time of sale, include Just Love Coffee Café, RevFit, Flossophy Dental Studio and Big Chicken. All of the tenants at the center are on triple-net leases. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller in the transaction. The property is situated across from a master-planned mixed-use project that will comprise retail, …

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Sunset-Amphitheater-El-Paso
DevelopmentEntertainmentNewsTexas

El Paso City Council Approves $80 Million Concert Venue, Partners With Operator

by Hayden Spiess

El Paso, Texas — The El Paso City Council has approved a proposal to develop an $80 million concert venue and has formed a public-private partnership with the operator, hospitality firm Venu (formerly known as Notes Live). The project will span 17 acres of city-owned land and will anchor the Cohen Entertainment District on the city’s northeast side. Dubbed Sunset Amphitheater, the venue will feature a seating capacity of 12,500. The City of El Paso is providing $30.6 million in performance-based incentives under the terms of the partnership deal. Construction is …

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Garrett-Colburn-SRS
Company newsNewsTexas

SRS Appoints Garrett Colburn President

by Hayden Spiess

Dallas — SRS Real Estate Partners has appointed Garrett Colburn president of the firm. Colburn will work with CEO Chris Maguire to “generate growth across all platforms, including retail, capital markets and industrial.” Colburn, who has 15 years of experience in retail brokerage, first joined SRS in 2012. He currently serves as managing principal and co-market leader of the company’s five California offices and a member of the board of directors — positions he will continue to hold. Additionally, he will serve on the Dallas-based company’s executive committee. 

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Neiman-Marcus-Tampa
Company newsInvestment salesNew YorkNewsTexas

Saks Fifth Avenue Parent Company Agrees to Acquire Neiman Marcus for $2.6 Billion

by Hayden Spiess

New York City and Dallas — HBC, the New York City-based parent company of Saks Fifth Avenue, has agreed to acquire Dallas-based Neiman Marcus Group. The merger between the two luxury fashion retailers is valued at $2.6 billion. An estimated closing date was not released. Following the acquisition, HBC will establish Saks Global, an entity that will combine the intellectual property and real estate assets of the two companies. Brands that are already owned by HBC or Neiman Marcus, including Saks OFF 5th, Bergdorf Goodman and Last Call Outlet, will continue …

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Live Oak Town Center
LeasingMixed-useNewsTexas

DICK’S House of Sport to Open 100,000-Square-Foot Store at Live Oak Town Center in Metro San Antonio

by Hayden Spiess

Live Oak, Texas — DICK’S House of Sport has signed a 100,000-square-foot lease at Live Oak Town Center, a mixed-use development in Live Oak, roughly 20 miles northeast of San Antonio. The store will feature sportswear and equipment, as well as interactive experiences including a climbing wall, outdoor field, golf bays and a multi-sport cage. David Nicolson and Michael Schoenbrun of Weitzman arranged the lease. Weitzman is developing Live Oak Town Center, which is anchored by IKEA, in phases. Upon completion, the property will comprise more than 800,000 square feet of …

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EntertainmentLeasingNewsTexas

The Picklr Opens 28,016-Square-Foot Venue at Eldorado Plaza in McKinney, Texas

by Hayden Spiess

McKinney, Texas — The Picklr has opened a 28,016-square-foot venue in the northern Dallas suburb of McKinney. Situated within Eldorado Plaza, the facility will feature nine full-size pickleball courts and one warm-up court. Whitestone REIT owns the property, which is anchored by Trader Joes. Other tenants at the center include Starbucks Coffee, Hollywood Feed and Christina’s Mexican Restaurant.

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