REBusinessOnline

Strong Leasing, Low Deliveries to Define McAllen Multifamily Market in 2019

Relative to past cycles, the multifamily market of the McAllen-Edinburg-Mission metro area has seen a record number of new deliveries of Class A product over the last four years. The metro’s population has grown significantly during the current economic expansion. According to the U.S. Census Bureau, the population of the city of McAllen alone has increased by 9.5 percent over the past decade. Combined with a relatively low cost of living throughout the region, the market’s natural growth …

Stanley Black & Decker to Open 425,000 SF Manufacturing Plant at AllianceTexas in Fort Worth

FORT WORTH, TEXAS — Hardware manufacturer Stanley Black & Decker will open a 425,000-square-foot manufacturing plant at AllianceTexas in Fort Worth. The facility will be used to produce a range of tools and devices sold under the Connecticut-based company’s CRAFTSMAN line for homebuilders and mechanics. The groundbreaking of the plant, which is expected to employ approximately 500 people, will be held this summer, with construction slated for a late 2020 completion. Stanley Black & …

PointOne, NRP Group to Develop 308-Unit Apartment Community in Austin

AUSTIN, TEXAS — A partnership between South Florida-based investment firm PointOne Holdings and Cleveland-based developer/general contractor NRP Group will develop The Knoll at South Congress, a 308-unit multifamily community in Austin. Units at the Class A property, which will be situated on 13.3 acres, will feature stone countertops, designer cabinetry, stainless steel appliances and hardwood-style flooring. Amenities will include a pool, fitness center, resident clubhouse, business center, …

Stream Realty Partners Arranges Sale of 217,565 SF Industrial Property in Fort Worth

FORT WORTH, TEXAS — Stream Realty Partners has arranged the sale of a 217,565-square-foot industrial property located at 10705 North Freeway in Fort Worth. According to Commercial Real Estate Exchange Inc., the property, which fronts Interstate 35, spans six buildings across 54.9 acres that feature 14- to 25-foot clear heights. Seth Koschak and Forrest Cook of Stream Realty Partners represented the buyer, M2G Ventures, in the transaction. Michael Newsome and Todd Hubbard of NAI Robert Lynn …

Gardner Tanenbaum Underway on 156,000 SF Industrial Project in Oklahoma City

OKLAHOMA CITY — Locally based developer Gardner Tanenbaum Holdings (GTH) is underway on construction of a 156,000-square-foot industrial facility in Oklahoma City for Corken Inc., a provider of pumps and compressors. Situated within the 104-acre Britton Road Commerce Park, the property offers convenient access to Interstate 35. Corken will utilize the facility, which is expected to be complete in late 2019, for manufacturing and office uses. Metropolitan Capital Advisors arranged debt for the …

NKF to Relocate North Dallas Office to 8,454 SF Space at Plano’s Legacy Business Park

PLANO, TEXAS — Newmark Knight Frank (NKF) will relocate its North Dallas office to an 8,454-square-foot space at 5201 Tennyson Parkway within Legacy Business Park in Plano. The 124,731-square-foot building was completed in 2015. John Wolf internally represented NKF, which is nearly doubling the size of it old office, in the lease

Exeter Property Group Acquires 245,860 SF Industrial Park in Houston

HOUSTON — Exeter Property Group, an investment firm with headquarters in suburban Philadelphia and London, has acquired Century Oaks Business Park, a 245,860-square-foot industrial development located at 10621–10641 S. Sam Houston Parkway. The property consists of six buildings situated on 19 acres. Clay Peeples and Bo Pettit of Boyd Commercial LLC/CORFAC International represented the seller, Bearden Investments, in the transaction. Daniel Miller and David Moore of Rubicon Representation …

Tremont Mortgage Trust Provides $28M Loan for Refinancing of Downtown Houston Apartments

HOUSTON — Boston-based Tremont Mortgage Trust has provided a $28 million loan for the refinancing of 1711 Caroline, a 220-unit apartment community in downtown Houston. Units, which include one- and two-bedroom formats, feature stainless steel appliances, quartz countertops with tile backsplashes, custom wood cabinets, washers and dryers and private balconies. Amenities include a pool, fitness center, rooftop terrace, media lounge, business center and rentable storage units. The floating-rate …

Fort Capital Purchases 157,000 SF Industrial Portfolio in Dallas

DALLAS — Fort Capital, an investment firm based in Fort Worth, has purchased the Valwood Portfolio, which consists of five light industrial properties in Dallas, totaling 157,000 square feet. The properties are located throughout the north and northwest parts of the city. The seller was not disclosed. With this acquisition, Fort Capital’s industrial portfolio now spans approximately 1.7 million square feet, putting the company on track to hit its goal of owning 2 million square feet by the …

Red Mortgage Arranges $22M Loan for Rehabilitation of Affordable Housing Portfolio in Texas

TEXAS — Red Mortgage Capital, a division of ORIX Real Estate Capital LLC, has arranged a $22 million loan for the rehabilitation of 14 affordable housing properties totaling 556 units located across 12 rural Texas communities. Existing debt on the properties was also restructured as part of the deal. The borrower was a joint venture between Related Affordable, a division of Related Cos., and the Texas Housing Foundation (THF). The United States Dept. of Agriculture (USDA) provided the loan …

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