Texas Instruments Begins Production At Semiconductor Facility In Sherman: The DFW Deal Sheet

A major player in North Texas’ growing semiconductor industry opened its first manufacturing facility in the city that helped the region earn its Silicon Prairie designation.

Texas Instruments started production at the first of its planned semiconductor manufacturing facilities in Sherman. The new facility, called SM1, will produce tens of millions of chips daily for products ranging from cellphones and medical devices to smart home appliances and data centers. 

The $40B megasite will eventually include four connected manufacturing facilities totaling 4.3B SF. 

"The start of production at our newest wafer fab in Sherman, Texas, represents what TI does best: owning every part of the manufacturing process to deliver the foundational semiconductors that are vital for nearly every type of electronic system," Texas Instruments President and CEO Haviv Ilan said in a statement. 

Texas Instruments' investment in Sherman is part of the company’s broader plan to spend more than $60B across seven semiconductor manufacturing facilities in Texas and Utah.

SALES

A joint venture of S2 Capital and Washington, D.C.-based real estate private equity firm Iron Point Partners closed on the acquisition of a 184K SF portfolio of two business parks in North Fort Worth. As part of the programmatic partnership, Iron Point will provide limited partner equity to support S2's targeted acquisition strategy focused on value-add, shallow-bay infill industrial assets in high-growth U.S. markets. The partnership has a second closing scheduled for January 2026.

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S2 Capital sold the 275-unit Ramble & Rose apartment property in Fort Worth to an undisclosed buyer. The five-story, podium-style apartment complex was completed in 2021. Institutional Property Advisors’ Michael Ware, Drew Kile, Joey Tumminello, Taylor Hill and Jack Windham represented the seller and procured the buyer.

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CenterSquare Investment Management acquired the 86K SF Metropolitan Infill service industrial portfolio in Carrollton and Addison on behalf of a Midwest public fund investor. The two-building portfolio is 100% occupied. The new owner plans to bring rents up to market levels and complete exterior upgrades.

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Marcus & Millichap announced the sale of the 19-suite Campbell Junction retail property in Richardson. The 43K SF retail center at 2000-2010 N. Plano Road was built in 1985 and is fully occupied. Marcus & Millichap’s Philip Levy marketed the property on behalf of the seller, a local developer. 

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BKM Capital Partners purchased a portfolio of three industrial properties totaling 200K SF in the Dallas-Fort Worth and Houston metros. The properties include the 68K SF Plaza Circle II in DFW’s South Stemmons submarket, the nearly 74K SF GSW Circle I in Grand Prairie, and the almost 59K SF Kinghurst Circle in southwest Houston. JLL’s Trent Agnew, Charlie Strauss, Tom Weber, Pauli Kerr, Lance Young, Brennan Fewin and Alex Fronterhouse represented the seller, Circle Industrial.

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The Multifamily Group announced the sale of a 386-unit, multifamily community in Dallas built in the 1960s. The Multifamily Group’s Guillermo Gameros represented the seller and procured a buyer. 

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CTO Realty Growth Inc. announced the sale of the mixed-use Shops at Legacy North development in Plano for $78M. At 243K SF, the property’s sale equates to $321 per SF. 

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Apricus Realty Capital acquired a 2.3-acre industrial outdoor storage facility at 6110 Chippewa Drive in Dallas in an off-market transaction. The property was sold by Bob Ward Jr. Equipment Co. Davidson Bogel Real Estate’s Martin Grossman and David Guinn assisted in facilitating the transaction.

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Mexico-based Vazma Capital LLC acquired a 73K SF refrigerated distribution facility on 5.73 acres at 2801 Interstate 35 N. in Denton from Ben E. Keith Co. Vazma plans to reconfigure its new distribution hub to enlarge the warehouse component and reduce the nearly 25K SF of office space. Bradford Commercial Real Estate Services’ Andrew Clark represented the buyer. CBRE’s David Walters and Brice Wells represented the seller.

LEASES

Lee & Associates Dallas-Fort Worth completed a lease transaction for 123K SF of industrial space at Carter Industrial Park in Fort Worth. Lee & Associates’ Reid Bassinger, Trey Fricke and Schaefer Amos represented the tenant, ReturnPro. Stream Realty Partners’ Cheyenne Mungaray, Forrest Cook and Jeff Rein represented the landlord, Agellan Capital Partners Inc.

CONSTRUCTION AND DEVELOPMENT

Crescent Estates Custom Homes broke ground on The Residences at Creek Hollow on Marsh Lane in Northwest Dallas. The 31-townhome community is expected to go vertical within the next six months.

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Tom Thumb opened its 59K SF grocery store at 3400 N. Belt Line Road in Sunnyvale. The store will anchor the city's $120M Gateway Park development to feature retail, restaurants and community amenities. 

FINANCING

JLL Capital Markets arranged a $130M refinancing for a build-to-rent portfolio that includes the 210-unit Vireo Medical District in McKinney as well as a 217-unit property in Georgetown, Texas, and a 181-unit project in Wesley Chapel, Florida. The full Vireo BTR Portfolio totals nearly 781K SF. JLL represented the borrower in securing the refinancing through KeyBank National Association’s Institutional Real Estate Group. JLL’s Jim Curtin, Lauren Dow, Rex Cruz and Obi Eboh led the team that represented the borrower.

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Lone Star PACE facilitated a $23.5M transaction for the Jefferson Ownsby multifamily project being developed by JPI in Celina. The 559K SF community will feature 436 units across four buildings at 317 E. Ownsby Parkway. The financing from the state’s Commercial Property Assessed Clean Energy program will fund energy- and water-saving improvements such as high-efficiency windows, enhanced insulation, LED lighting systems and upgraded HVAC systems. Over the 30-year assessment term, these improvements are expected to reduce utility and operating costs by more than 15%, generating cumulative savings of more than $54M for the property.

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Stream Realty Partners closed on the recapitalization of a portfolio of seven Class-A industrial assets in the Dallas, Austin and San Antonio metros. The industrial properties were contributed to a continuation vehicle formed in partnership with a New York-based global investor. Stream retains a 65% ownership interest in the vehicle, while the investor acquired the other 35%. The industrial parks were developed by Stream from 2021 to 2024, totaling 4.4M SF. Evercore served as the exclusive financial adviser for the deal, while Winston & Strawn served as legal adviser to Stream.

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Petros Pace Finance and Lone Star Pace closed a $3.6M assessment through Texas’ Commercial Property Assessed Clean Energy program for a six-building industrial development in Denton. The sponsor is leveraging C-PACE financing to fund the energy-efficient improvements for the 107K SF project. The improvements are projected to reduce annual energy usage by 37%.

PEOPLE

Gensler appointed Pheba Thomas as principal. The project director and studio director with the company’s Dallas office has more than 20 years in the industry and over a decade at Gensler.

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Trammell Crow Co. promoted Joel Behrens to market leader of the firm’s Dallas-Fort Worth office. He is responsible for the day-to-day operations and strategic oversight of all new development and investment activity for Trammell Crow and High Street Residential throughout the region. Behrens has been with Trammell Crow since 2008.

THIS AND THAT

The Greater Fort Worth Association of Realtors installed United Real Estate DFW Properties’ Shawn Buck as president of its 2026 board of directors.