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2229-2235-E-Magnolia-St-Phoenix-AZ
AcquisitionsCaliforniaIndustrialWestern

Stos Partners Buys 39,351 SF Warehouse in Phoenix, Sells 18,000 SF Industrial Property in San Diego County

by Amy Works

PHOENIX AND POWAY, CALIF. — Stos Partners has completed two industrial transactions in Phoenix and Poway. The firm acquired a 39,351-square-foot freestanding industrial building at 2229-2235 E. Magnolia St. in Phoenix for $5.2 million, or $131 per square foot. Purchased from a private investor in an off-market transaction, the vacant warehouse is situated in the Sky Harbor submarket. The building features a clear height of 24 feet, two dock-high and two grade-level doors. Stos Partners plans to reposition the property through a series of capital improvements, including roof replacement, parking lot resurfacing, HVAC upgrades, new speculative office build-out, exterior and interior painting and drought-tolerant landscaping. Parker Huston of DAUM Commercial represented Stos Partners, while Jerry Hillary of DAUM represented the seller in the deal. Stos Partners also completed the $6.5 million disposition of 12575 Stowe Drive in Poway. The firm acquired the 18,000-square-foot property in 2020 for $3.6 million and executed its business plan ahead of schedule. The asset includes a large, secured yard, 26 percent floor-area ratio, a clear height of 20 feet, four grade-level doors and two stories of office space. Tim Clepper of San Diego Commercial represented Stos Partners, while Josh West of Voit Real Estate represented the …

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DevelopmentMichiganMidwestMultifamilySeniors Housing

Lockwood Senior Living Opens $46M Community in Hartland, Michigan

by Kristin Harlow

HARTLAND, MICH. — Lockwood Cos. has opened Lockwood of Hartland, a 146-unit senior living community in Hartland, about 50 miles northwest of Detroit. The $46 million project offers one- and two-bedroom independent living apartments, all with private patios or balconies. Sixty-one of the units are designated as affordable housing. The property is situated on 17 wooded acres with nature trails. Amenities include chef-prepared meals, a fitness room, life enrichment programs, a barber shop, beauty salon and theater.

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DevelopmentIndustrialMichiganMidwestSelf-Storage

Inland, Devon Complete 767-Unit Self-Storage Conversion Project in Southfield, Michigan

by Kristin Harlow

SOUTHFIELD, MICH. — Inland Real Estate Investment Corp. and Devon Self Storage have completed a 77,600-square-foot self-storage facility in the Detroit suburb of Southfield. The project involved the conversion of an office building into a four-story, climate-controlled self-storage facility with 767 units, a 24-hour security system and covered loading area. The property is located at 24700 Northwestern Highway near I-696. Devon is a member of The Inland Real Estate Group of Cos. Inc.

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AcquisitionsLoansMidwestMissouriMultifamily

Gantry Arranges $11.5M Acquisition Loan for Kansas City Multifamily Property

by Kristin Harlow

KANSAS CITY, MO. — Gantry has arranged an $11.5 million loan for the acquisition of The Life at Highland Village multifamily property in Kansas City’s Lewis Heights neighborhood. The 200-unit garden-style community includes 11 buildings with a mix of one- and two-bedroom floor plans. Most units feature recent appliance upgrades and new finishes. Amenities include a grass-covered open space, pool, playground and dog park. Mark Reichter and Alex Frook of Gantry arranged the financing on behalf of the borrower, a private real estate investor. An insurance company lender provided the three-year, fixed-rate loan, which features an upfront interest-only period followed by a 30-year amortization.

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Affordable HousingDevelopmentMidwestMissouriMultifamily

Guadalupe Centers Delivers 50-Unit Affordable Housing Community in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Guadalupe Centers Inc. (GCI) has opened Villa View Apartments, an affordable housing community designed for teachers and local families in Kansas City. Situated on the southeast corner of GCI’s Villa Guadalupe school campus at 1616 Hardesty Ave., the four-story development features 50 units, 42 of which are designated as affordable housing for households earning up to 60 percent of the area median income. The remaining apartments are offered at market rates. Community amenities include a business center, community room, courtyard, rooftop patio and picnic areas. Built in compliance with Enterprise Green Communities and the 2021 International Energy Conservation Code, the property is energy efficient and fully electric. Residents will benefit from services provided free of charge by GCI. These include youth education, after-school programs, financial literacy, tax preparation, health screening, cultural community events, mental health counseling, job training and food pantries. GCI partnered with Riverstone Platform Partners as co-developers. The project team included Altman-Charter Co. as general contractor, SLATTERY Design + Architecture as the architect of record and Beacon Management LLC as the property manager. The development was financed in part with $12.5 million in federal Low-Income Housing Tax Credits (LIHTC) syndicated by Hunt Capital Partners …

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Stream-Northwest-Houston
DevelopmentIndustrialTexas

Stream Realty Partners to Develop 300,000 SF Industrial Project in Northwest Houston

by Taylor Williams

HOUSTON — Stream Realty Partners will develop a 300,000-square-foot industrial project in northwest Houston. The 17-acre site is located off West 43rd Street between Hempstead Highway and U.S. Highway 290. The cross-dock building will be able to accommodate a single or multiple users. Seeberger Architecture is designing the project, and Kimley-Horn is providing civil engineering services. Stream will also be the property’s leasing agent. Construction is scheduled to begin in the first quarter of 2026 and to be complete before the end of next year.

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AcquisitionsIndustrialTexas

Moody Rambin, Exline Acquire 293,743 SF Industrial Park in Northwest Houston

by Taylor Williams

HOUSTON — A partnership between locally based development firm Moody Rambin and Fort Worth-based investment firm Exline Capital has acquired Central Park Northwest, a 293,743-square-foot industrial park in northwest Houston. The property consists of eight buildings that include office space. The seller and sales price were not disclosed, and no third-party brokers were named as being involved in negotiating the transaction. Moody Rambin’s in-house team will lease the property.

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DevelopmentIndustrialOfficeTexas

Foundry Commercial to Undertake 118,032 SF Industrial Redevelopment in Irving

by Taylor Williams

IRVING, TEXAS — Orlando-based development firm Foundry Commercial will undertake an industrial redevelopment in Irving. Foundry plans to demolish a vacant, 45,000-square-foot office building at 4250 N. Belt Line Road and construct a 118,032-square-foot warehouse with 32-foot clear heights. Construction is scheduled to begin in September and to be complete in summer 2026. Foundry has partnered with a fund advised by Crow Holdings Capital on the project and tapped Holt Lunsford Commercial as the leasing agent.

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AcquisitionsRetailTexas

Disney Investment Group Arranges Sale of 79,885 SF Shopping Center in Dallas

by Taylor Williams

DALLAS — Locally based brokerage firm Disney Investment Group (DIG) has arranged the sale of Mockingbird Central Plaza, a 79,885-square-foot shopping center located in the Highland Park area of Dallas. The center was 98 percent leased at the time of sale to 22 tenants, including Whole Earth Provision, Jason’s Deli and Mattress Firm. David Disney and Adam Crockett of DIG represented the seller, Dallas-based Corsair Property Co., in the transaction and procured the buyer, shopping center REIT Curbline Properties.

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AcquisitionsIndustrialTexas

Westmount Realty Capital Buys 24.4 Acres in West Dallas for Cold Storage Project

by Taylor Williams

DALLAS — Locally based investment and development firm Westmount Realty Capital has purchased 24.4 acres in West Dallas with plans to construct a cold storage facility. The site is located at 951 W. Walton Walker Blvd. at the southwest corner of Loop 12 and I-30. Details on project specifics were not disclosed. The deal traded off-market, and no third-party brokers were involved in negotiating the sale.

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