The delivery of major corporate campuses in Dallas last year, initiated two to three years earlier, reshaped the northern suburbs, driving 2017's 5.8 million square feet of absorption. Last year, class A came in at 93% of total demand, underscoring Dallas' established pattern of preferring new space over older options–and willing to accept much higher rents. This pattern of base-level demand should continue into a solid 2018, with Liberty Mutual's recent delivery of 1.1 million square feet adding to that total, according to JLL.—Lisa Brown

NEWS AND NOTABLES

DENVER—Apto, the commercial real estate software company, reports that revenues for 2017 were up 33% versus 2016, and that the number of brokers using its software climbed 27% to nearly 8,000. Backed by $18-million in investment capital, Apto believes its software is now used by more brokers than any other to manage contacts, properties and listings, and transactions. Angela Tucci assumed the CEO reins from the company founder last October.

HOUSTON—NAI Partners has recently promoted Darren O'Conor, Nick Peterson and Holden Rushing of the company's industrial services group to senior vice president, and Jake Wilkinson, also of the industrial services group, to vice president.

DEAL TRACKER

AUSTIN, TX—Whole Foods Market 365 store coming to a 10-acre project called Saltillo, being developed as a joint partnership between Austin-based Endeavor Real Estate Group and Dallas-based Columbus Realty Partners. This marks the first 365 in Austin and the second in the greater Austin area, with the first one being in Cedar Park.

CARROLLTON, TX—Fagan Logistic Services LLC renewed its 72,121-square-foot lease at 1430 Bradley Ln. Andrew Gilbert of Holt Lunsford Commercial represented the landlord, ATCAP Partners. Adam Curran of Cushman & Wakefield represented the tenant.

DALLAS—Bánh Mì Station, a fast-casual restaurant specializing in Vietnamese sandwiches, has signed a lease to open its restaurant on the south side of the Sylvan | Thirty development facing Sylvan Avenue later this year. Construction on the restaurant, which will accommodate nearly 50 people both inside and outside on the enclosed arched trellis patio, is expected to start in April.

FORT WORTH—The 35-block development of Sundance Square adds the Willow House Boutique. The 2,410-square-foot store will open this spring at 317 Houston St.

GEORGETOWN, TX—JLL has been selected as the strategic leasing partner for anticipated retail development Wolf Crossing. The 42 acre 250,000-square-foot retail development by CSW Development located at Interstate 35 and Texas Highway 29 will serve as an entrance way to Georgetown's historic downtown. The development will include several restaurants, a hotel and a grocery store. JLL senior vice president Barry Haydon and vice president Jon Switzer are leading marketing and leasing efforts for the retail development.

GRAND PRAIRIE, TX—Phoenix-based NexMetro Communities acquired a 13-acre parcel located on the corner of Sara Jane Parkway and Forum Dr. The site is located at the northwest quadrant of State Highway 161 and Interstate 20. Younger Partners broker Tom Grunnah represented NexMetro in the land acquisition along with colleagues Michael Ytem, Jeremy Lillard and Kevin Harrell.

GREENWOOD VILLAGE, CO—Commercial Real Estate Investment Firm Cress Capital, in partnership with Revesco Properties, announced the purchase of Orchard Pointe, a 120,873 square-foot multi-tenant office building in the Denver Technology Center from TA Realty. Cress sourced and led the transaction and will oversee asset management. Revesco will provide property management services through its subsidiary, Revesco Property Services.

HOUSTON—The NAI Investment Fund has successfully divested 12600 N. Featherwood Dr., the first property purchased by Fund I shortly after it launched in 2015. Andrew Pappas and Adam Hawkins of NAI Investment Fund worked closely with Marty Hogan of HFF to close the deal.

HOUSTON—Vibe Hobby, located near Hobby Airport at 8866 and 8876 Gulf Freeway, is already receiving an upgrade to its Ventures offering. Ventures, Houston's newest executive suite and coworking location, is currently comprised of 4,500 square feet, and is planning to potentially expand to up to an additional 7,200 square feet. NAI Partners' landlord services division's office project leasing team, comprised of Zach Leger and Jacob Aldridge, is the exclusive leasing agent for the 178,000-square-foot property, including the Ventures component.

HOUSTON—NAI Partners recently arranged a 3,259-square-foot office lease at 14950 Heathrow Forest Pkwy. Chris Caudill of NAI Partners represented the tenant, Circle 8 Crane Services, a mobile crane company, in the transaction. Ace Schlameus of Colliers represented the landlord, 14950 Meadows LP.

IRVING, TX—Rowan Properties announces the sale of the 212-unit Sierra Point apartments as well as the sale of the 32-unit Jackson Manor apartments in Greenville, TX.

SAN ANTONIO—Starlight Apartments, a 24-unit apartment property located at 347 Ware Blvd., has sold. William Stover, associate and Mike Moffitt, first vice president investments, in Marcus & Millichap's Austin office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured by Stover and Moffitt.

SAN ANTONIO—HFF announces the sale of Mesa Vista Inn Healthcare Center, a 144-bed post-acute skilled nursing facility near San Antonio's Medical Center district. The HFF team marketed the property on behalf of the seller, Kayne Anderson Real Estate, and procured the buyer, an affiliate of O&M Investments LLC.

Instant Insights /

Middle Market Digest: This Week in the South and Mountain Regions

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