HUNTSVILLE, TEXAS — A partnership between two investment firms, Dallas-based CrestMarc and Chicago-based Midloch Investment Partners, has acquired The Forum at Sam Houston, a 294-unit apartment complex located about 70 miles north of Houston in Huntsville. The property also functions as student housing for enrollees at Sam Houston State University (SHSU). Built in 2010, The Forum at Sam Houston features a mix of studio, one-, two- and three-bedroom units with an average size of 800 square feet. Amenities include a pool, sand volleyball court, basketball court, clubhouse and study lounge, fitness center, bark park, complimentary Starbucks Coffee bar and private shuttle to the SHSU campus. The seller and sales price were not disclosed.
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CHANNELVIEW, TEXAS — Lightstone Capital, the debt financing arm of New York City-based Lightstone Group, has provided a loan of an undisclosed amount for an industrial building in Channelview, an eastern suburb of Houston. According to LoopNet Inc., the building at 300 S. Sheldon Road was built in 2003 and totals 180,000 square feet. Elias Haddad led the transaction for Lightstone, which closed the deal in conjunction with two other debt originations for multifamily properties in Southern California that totaled $70 million across all three loans. The borrower was not disclosed.
SOUTHLAKE, TEXAS — Newmark has negotiated the sale of Cornerstone Plaza, a 51,664-square-foot shopping center in Southlake. Cook Children’s Medical Center anchors the two-building center, which was built in 2002 and was fully leased at the time of sale. Conor Lalor, Kyle Minter and Justin Shepherd of Newmark represented the seller, Woodside Health, an Ohio-based private equity firm specializing in healthcare real estate, in the transaction. The buyer was not disclosed.
MISSOURI CITY, TEXAS — Marcus & Millichap has brokered the sale of Brazos Lake Shopping Center, a 9,920-square-foot retail strip center in Missouri City, a southwestern suburb of Houston. Anchored by Excel Urgent Care, the center was built on 1.2 acres in 2009 and features three suites. Joseph Jaques, Alex Wolansky, Gus Lagos and Ron Hebert of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
SHREWSBURY, MASS. — Industrial Commercial Properties (ICP) has acquired a 680,000-square-foot industrial campus in Shrewsbury, located in Worcester County. The development at 65 Chestnut St. consists of two buildings that were built in the 1980s. According to LoopNet Inc., the buildings feature clear heights of roughly 21.5 to 28.5 feet. In addition, the campus has the electrical capacity to support up to 15 megawatts of power. ICP plans to reposition the campus to support manufacturing usage and has already received zoning approval for that initiative. The seller and sales price were not disclosed.
TOMS RIVER, N.J. — Colliers has brokered the $13.6 million sale of a portfolio of two medical office buildings totaling 55,680 square feet in Toms River, located near the Jersey Shore. The buildings at 1-3 Plaza Drive total 37,621 and 18,059 square feet, respectively, and had a combined occupancy rate of 98 percent at the time of sale. Tenants include Physicians Surgicenter, University Radiology Group and Astera Cancer Care. Jacklene Chesler, Patrick Norris and Brittany Leventoff of Colliers represented the seller, New Jersey-based Horizon Equities, in the transaction. The buyer was undisclosed.
Basis Industrial Buys Land in Surprise, Arizona for Development of 707-Unit Self-Storage Facility
by Amy Works
SURPRISE, ARIZ. — Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Delray Beach, Fla., has acquired a land parcel at 17140 W. Waddell Road in Surprise for the development of a self-storage facility. Additionally, Basis Industrial closed on a $20.5 million construction loan for the project. NexBank and NexPoint provided the construction financing. The development will encompass approximately 102,673 square feet with 707 climate-controlled storage units upon completion. Construction is expected to begin later this year, with completion and opening slated for fall 2027. The project will be situated within the Truman Ranch master-planned community, including more than 600 new apartment units.
LAS VEGAS — MorningStar Senior Living has recapitalized MorningStar Senior Living at The Canyons, a seniors housing property situated on 3.6 acres at 490 S. Hualapai Way in Las Vegas. JLL Capital Markets represented the seller, a joint venture between Confluent Development and Ovation Group, in the sale of the property to a private equity firm. JLL also worked on behalf of the buyer to secure a five-year acquisition loan through a debt fund. MorningStar will remain as the operator and a joint venture partner. MorningStar opened the 168-unit community in 2024 with co-developers Confluent Development and Ovation Group. The four-story MorningStar at The Canyons offers independent living, assisted living and memory care units in a mix of studio, one- and two-bedroom layouts. Community amenities include multiple dining venues, fitness and therapy spaces, a salon, theater and swimming pool, as well as a variety of social and wellness programs.
Cowboy Space Leases 291,035 SF Industrial Facility in Kent, Washington for Production Site
by Amy Works
KENT, WASH. — Cowboy Space, an aerospace and advanced manufacturing firm, has leased a 291,035-square-foot facility at 7650 S. 228th St. in Kent, a suburb 20 minutes south of Seattle, from CenterPoint. Thad Mallory and Taylor Hoff of Newmark represented the landlord in the transaction. Cowboy Space will transform the asset into a specialized advanced manufacturing operation supporting space and rocket development, adding approximately 300 jobs to the region’s aerospace industry. The project will include significant tenant and landlord-funded capital improvements, including new office construction, power and ventilation upgrades, enhanced security measures and flooring improvements. Most recently occupied by Costco, the property was originally developed as a distribution facility.
FLEMINGTON, N.J. — Locally based owner-operator Larken Associates has completed the renovation of Raritan Commons, a 67,040-square-foot office building in Flemington, about 60 miles southwest of Manhattan. Renovations included upgrades to common areas and hallways, including new sconces and LED lighting, furniture, signage, flooring, wallpaper and wall paintings. Additionally, the firm remodeled common-area bathrooms with new flooring, walls, fixtures, lighting, countertops and partitions.
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