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Published 5th Jan. 2017

Bright Realty: 2016 Year in Review

 

Bright Realty: Year in Review

Bright Realty had a busy and productive 2016, with success in brokerage efforts as well as retail properties, office properties and residential development. Here is a quick recap of the year:

Bright Realty Brokerage
Brokers were active across the Metroplex in 2016, adding new clients for landlord representation including: 4/4 Music School in McKinney; Altamirano Tex-Mex in Decatur; DC Dent Center in Arlington; Half of Half Name Brand Clothing in Irving; Papillon Fitness in Sunnyvale; Texas Rug Gallery in Southlake; TruKitchen in McKinney; and F45 Fitness, Starbucks and Z’s Wok in Castle Hills. Under tenant representation, Bright Realty expanded its client list to include R Taco (formerly Rusty Taco), WingStop and multiple Spirit Halloween franchisees.

Bright Realty Retail
Bright Realty successfully leased all units in Castle Hills Commons, with construction on the retail center’s Starbucks—the newest neighborhood outlet in the growing area—completed in October. Located off SH121 in Lewisville adjacent to Nebraska Furniture Mart, Castle Hills Commons also includes a Planet Sub, opening in the first quarter of 2017, along with a national dental group and fitness facility.

In Castle Hills Village Shops, Bright Realty began construction on the last phase of the mixed-use center. Phase 5 will add approximately 8,500-square-feet of ground floor retail with delivery targeted for spring.

Bright Realty Office
With land development activities complete, Crown Centre, on 2,600 acres in the State Hwy. 121 area, will be meeting corporate campus needs as soon as mid-2018. Crown Centre is build-to-suit and is a stone’s throw from corporate headquarters such as Toyota, FedEx, JC Penney, Liberty Mutual and more.

Bright Realty’s other signature office project, the Realm at Castle Hills, continues to spur interest. The Realm was featured on the North Texas Commercial Association of Realtors’ (NTCAR) office property tour last fall. More than 100 commercial agents from all over the DFW area learned about prominent North Dallas office projects, focusing on the SH121 corridor. As the availability of future Class A office space in the popular West Plano-Legacy-Frisco corridor continues to dwindle, developers for corporate relocations are looking west for premium office space.

Bright Realty Residential
Bright Realty continues to diversify its residential product mix in Castle Hills, a 2,600-acre development which has grown to 3,942 single-family homes. Most notable is the delivery of the first phase of Bright Realty’s luxury apartment community Discovery at The Realm, which is on track to achieve full occupancy this spring. With 423 units, Bright Realty has been able to achieve higher rental rates with the addition of notable amenities such as a staffed Club with craft beer and wine service, lake with pedestrian promenade, resort-style pool pavilion, dog park with walking paths and much more.

In Castle Hills Village Shops, Bright Realty delivered 19 lots for townhome development. With inspiration from a European-inspired lock-and-leave lifestyle, “Chateaux at The Shops” will feature 2-story townhomes with yard maintenance included and a shared landscaped garden area for residents to enjoy. The townhomes will be built by American Legend Homes, with pre-sales underway for spring occupancy.

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