Property Type

Trammell Crow Breaks Ground on Phase I of 130-Acre Weiser Business Park in Northwest Houston

by Taylor Williams September 13, 2021

HOUSTON — Trammell Crow Co. (TCC) has broken ground on Phase I of Weiser Business Park, a speculative industrial redevelopment project located at the site of a former airport in northwest Houston. The first phase of the 130-acre development will center on the delivery of three buildings totaling 557,490 square feet. The first and smallest building will feature 28-foot clear heights and 128 vehicle parking spaces. The second and third buildings will both span more than 200,000 square feet and offer 32-foot clear heights while also having nearly 500 combined parking spaces. Completion of Phase I is scheduled for the second quarter of 2022. TCC has tapped Lee & Associates to lease the buildings. Construction of a fourth building that will span approximately 520,000 square feet and have 36-foot clear heights is set to begin early next year.

September 13, 2021

Acquisitions Office Texas

Partners Group, Accesso Sell 505,948 SF Royal Ridge Office Campus in Irving’s Las Colinas District

by Taylor Williams September 13, 2021

IRVING, TEXAS — Switzerland-based global investment firm Partners Group and Florida-based Accesso have sold Royal Ridge, a 505,948-square-foot office campus in Irving’s Las Colinas district, for an undisclosed price. Royal Ridge is a four-building campus that was constructed between 1998 and 2000. Tenants at the property, which has averaged a historical occupancy rate of about 94 percent during its life span, include Michaels and Honda. Todd Savage and Andrew Levy of JLL represented the partnership in the sale of the property to affiliates of Menlo Equities.

September 13, 2021

Development Florida Multifamily Southeast

Aventon, CrossHarbor Capital Break Ground on 348-Unit Apartment Community in Orlando

by Julia Sanders September 13, 2021

ORLANDO, FLA. — Aventon Cos. and co-developer CrossHarbor Capital Partners has broken ground on Aventon Belle Isle, a 348-unit apartment community in Orlando, about 8.8 miles south of downtown Orlando. The property will include 12 garden-style buildings on 24 acres with one-, two- and three-bedroom floorplans. Community amenities will include a fitness center, yoga studio, remote work offices, automated package delivery, coffee bar, pet spa and a poolside social lounge. Outdoor spaces will include a private pool, cabanas with day beds, hammock garden, outdoor kitchen with grills and dining spaces, walking trails and a dog park. Located at 5051 Hoffner Ave., the property is located two miles from Orlando International Airport and about 18.7 miles from Walt Disney World Resort. Maitland, Fla.-based Scott + Cormia Architects is designing Aventon Belle Isle, and Marietta, Ga.-based Design Environments Inc. will designing the interiors. Construction is slated to be complete in the spring of 2023. With the addition of Aventon Belle Isle, Aventon Cos. now has 891 apartment units under construction in the metro Orlando area. Aventon Alaira, just east of Disney, will deliver 296 units and recently opened its clubhouse, while Aventon Gem Lake will deliver 247 units to the Winter Park …

September 13, 2021

Industrial Leasing Activity Texas

Newmark Negotiates 181,067 SF Industrial Lease Extension in Houston

by Taylor Williams September 13, 2021

HOUSTON — Newmark has negotiated a 181,067-square-foot industrial lease extension at Building 11 within Central Green Business Park in Houston. John Luck, Griffin Rich, Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, Joshua Brown and Trace Elrod of Newmark represented the tenant, GAC Energy & Marine Services, in the lease negotiations. Liberty Property Co. owns the facility.

September 13, 2021

Acquisitions Multifamily Nevada Western

Bascom Group Sells Fifty101 Apartments in Las Vegas to Apartment Ventures for $21.6M

by Amy Works September 13, 2021

LAS VEGAS — The Bascom Group has completed the disposition of Fifty101, a multifamily community located at 5101 O’Bannon Drive in Las Vegas. Apartment Ventures acquired the asset for $21.6 million. The 90-unit community consists of 16 one-bedroom apartments, 50 two-bedroom units and 24 three-bedroom/two-bath layouts in a variety of floor plans. The Bascom Group had completed property-wide renovations, including capital improvements in dual-pane windows and public update upgrades and select unit renovations. Taylor Sims, Carl Sims and Brady Cleary of Cushman & Wakefield’s Multifamily Advisory Group in Las Vegas represented the seller in the transaction.

September 13, 2021

Acquisitions Industrial Texas

JLL Brokers Sale-Leaseback of 166,000 SF Industrial Facility in East San Antonio

by Taylor Williams September 13, 2021

SAN ANTONIO — JLL has brokered the sale-leaseback of a 166,000-square-foot industrial facility located at 5003 Stout Drive on San Antonio’s east side. The property was built in 1985 and renovated in 2019. Building features include 22.5-foot clear heights, 93 parking stalls and a 21 percent office finish. Dustin Volz, Stephen Bailey, Dom Espinosa, Joshua Villarreal and Matthew Barge of JLL represented the seller and occupant, graphic design and custom manufacturing firm Comet Signs, in the transaction. The buyer/landlord was not disclosed.

September 13, 2021

Development Industrial Nevada Self-Storage Western

DXD Capital Breaks Ground on 1,100-Unit Self-Storage Facility in Las Vegas

by Amy Works September 13, 2021

LAS VEGAS — DXD Capital has broken ground on a self-storage facility located on a 1.7-acre parcel at the corner of West Sahara Avenue and South Monte Cristo Way in Las Vegas. Designed by Studio Level I with Arco Murray serving as general contractor, the new property will feature 1,100 units, plus two interior loading bays with room for three trucks in a fully climate-controlled building with two freight elevators and a storefront with moving supplies. Public Storage will operate the facility, which is slated to open in third-quarter 2022. DXD acquired the property in January 2021 through its DXD Self Storage Fund I, which was launched in November 2020. The fund is raising $50 million to invest in ground-up development of Class A, multi-story, climate-controlled self-storage facilities.

September 13, 2021

Acquisitions California Industrial Western

Exeter 4837 Watt Buys Flex Industrial Building in North Highlands, California for $12.4M

by Amy Works September 13, 2021

NORTH HIGHLANDS, CALIF. — Exeter 4837 Watt LLC has acquired a flex industrial facility located at 4837 Watt Ave. in North Highlands. Stoneridge Watt Avenue LLC sold the asset for $12.4 million. Built in 1987 for Price Club, the property was renovated in 1997 for industrial and flex use. Situated on 12.8 acres, the 129,491-square-foot property is half a mile from Interstate 80. Alan Pekarcik and Chris Smith of Avison Young’s Irvine, Calif., office represented the buyer, while Cushman & Wakefield represented the seller in the deal.

September 13, 2021

Acquisitions Net Lease Retail Texas

Boulder Group Arranges $2.4M Sale of Net-Leased Retail Property in Taylor, Texas

by Taylor Williams September 13, 2021

TAYLOR, TEXAS — The Boulder Group, an Illinois-based retail brokerage firm, has arranged the $2.4 million sale of a 6,912-square-foot retail property that is net-leased to Advance Auto Parts in Taylor, located northeast of Austin. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private investor based in the Southwest, in the transaction. The undisclosed, West Coast-based buyer completed the deal via a 1031 exchange.

September 13, 2021

5120-5110-W-Indian-School-Road-Phoenix-AZ

Acquisitions Arizona Restaurant Retail Western

Marcus & Millichap Arranges $8.1M Sale of Retail Property in Phoenix

by Amy Works September 13, 2021

PHOENIX — Marcus & Millichap has brokered the sale of a retail property located at 5120 and 5110 W. Indian School Road in Phoenix. A limited liability company sold the property to a personal trust for $8.1 million. WSS Shoes and Habit Burger occupy the 13,100-square-foot shopping center, which is across the street from American Family Fields of Phoenix Baseball Park, spring training home to the Milwaukee Brewers. Mark Ruble and Chris Land of Marcus & Millichap’s Phoenix’s office represented the seller, while Peter James and Rob Narchi of Marcus & Millichap’s Los Angeles office represented the buyer in the deal.

September 13, 2021

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