SAN ANTONIO — JLL has arranged the sale of Hamilton Place, a 77-unit multifamily community in San Antonio. The Class B property is located at 1622 and 1650 Jackson Keller Road on the city’s north side and offers amenities such as a pool, a dog park and on-site laundry services. Moses Siller of JLL represented the seller, Vergara Properties LLC, in the sale. JMB Group, an investment and management firm with offices around the country, purchased the property.
MODESTO, CALIF. — Pactra USA has leased 184,350 square feet at Tracy Pescadero Distribution Center, just west of Modesto. The center is located at 1700 E. Pescadero Ave. The transaction brings the building to 100 percent occupancy. The building features 57 dock-high doors, 32-foot clear heights and a easy access to major transportation arterials including Interstate 205, Interstate 5, Interstate 580 and Highway 99. Cushman & Wakefield represented the 3PL service provider. CBRE represented the landlord, Ridgeline Property Group and LaSalle Investment Management, in this transaction.
LEWISVILLE, TEXAS — Venture Investment Sales has brokered the sale of an 8,700-square-foot retail center in Lewisville. The property’s location at 5040 State Highway 121 is adjacent to Grandscape, a 400-acre mixed-use development. Tenants include T-Mobile, Chipotle Mexican Grill and Texas Direct Auto. John Zikos, Jonathan Cooper and Don Miller of Venture represented the seller. A local family trust purchased the asset for an undisclosed price.
KATY, TEXAS — NewQuest Properties has unveiled plans for the Phase II expansion of Katy Grand, a 21.7-acre, cinema-anchored retail development in Katy. Phase II will deliver 36,000 square feet of retail and restaurant space on 7.4 acres in late fall. Leases with three new tenants — Japanese book retailer Kinokuniya, Taiwanese eatery 85C Bakery Café and Kula Revolving Sushi Bar — have already been signed.
WASHINGTON, D.C. — A partnership between Urban Investment Partners (UIP) and Atalaya Capital Management has acquired Onyx on First, a 266-unit apartment community located in Washington, D.C.’s Capitol Riverfront neighborhood for $95.5 million. The seller was J.P. Morgan, according to the Washington Business Journal. Constructed in 2008, Onyx on First was originally developed by Faison Development as condominiums, but was converted to rental apartments upon delivery. The property is located at 1100 First St. S.E., two blocks from Washington Nationals Park and near the Navy Yard Metro station. The community features shared amenities including a rooftop deck and pool, fitness center, picnic area with grills, courtyard, underground parking and controlled-access entry. The new ownership will update the property by installing cell phone repeaters to improve cell phone service, expanding the outdoor kitchens, installing dog runs and adding other building enhancements. Upon closing, UIP and Atalaya separated the land and building and sold the land to Safety, Income & Growth Inc. (SAFE), a publicly traded owner of ground-net leases. SAFE then leased the land to UIP under a 99-year ground lease. Andy Weiss of Gem Equity structured the placement of the ground lease. Jacob Katz of Meridian Capital represented Capital One and Fannie Mae …
What’s that thing everyone always says about millennials? That they crave new experiences, novel environments and locally produced items that have a story — or at least a little substance — behind them? Yes, that’s it. Ask and ye shall receive. They’ll even ship this request to you. Well, maybe not right to your door, but straight off a boat and into your nearest underused plot of viable land. We’re talking shipping containers, which have become the new avant-garde approach to traditional retail experiences. “I think any time you can find a new creative use for an item or a space it is going to capture interest,” says Hartley Rodie, who is developing the Churchill, a 16-container shopping and dining project on North 1st Street in Phoenix that is scheduled to open in fall 2018. Being a millennial himself, Rodie and his partner, Kell Duncan, both 29, were inspired to undertake this new project after examining what was missing — both within their own lives and within their community. “Neither of us felt fulfilled by our areas of focus, so the question became ‘what’s next?’” he says. “I knew whatever it was going to be, for me, it was important to …
FORT WORTH, TEXAS — Sundance Square, the developer of downtown Fort Worth’s main entertainment district of the same name, has acquired the Petroleum Building, a 117,000-square-foot office asset. XTO Energy, a division of ExxonMobil, sold the building for an undisclosed price and will continue to occupy the space until summer as it relocates roughly 1,600 jobs from Fort Worth to Houston. The property occupies a full city block at West Sixth Street between Houston and Throckmorton streets in downtown Fort Worth. The sale includes a 534-space parking garage situated adjacent to the building. Ryan Matthews of JLL brokered the sale on behalf of XTO Energy, which has now sold four office properties totaling 281,204 square feet in Fort Worth.
DALLAS — Stillwater Capital has broken ground on The Crosby, a 336-unit multifamily complex located at 400 S. Hall St. in the Deep Ellum district of Dallas. Designed by Dallas-based HLR Architects Inc., the building will feature 3,000 square feet of co-working space, a rooftop deck and lounge, a dog park, pool, fitness center and bike storage services. Units will include studio, one- and two-bedroom residences ranging in size from 535 to 1,176 square feet. A timetable for completion has not yet been established.
FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Ranch at Fossil Creek, a 274-unit multifamily property located on Fort Worth’s north side. The property was built in 2002. Will Balthrope, Drew Kile and Joey Tumminello of IPA represented the seller, Connecticut-based Beachwold Residential LLC. The group also procured the buyer, Frisco-based CAF Capital Partners LLC.
PFLUGERVILLE, TEXAS — Texas Realty Capital (TRC) has arranged the $11 million refinancing of 130 Commerce Center, a 230,000-square-foot industrial/office property located in Pflugerville on Austin’s north side. Minneapolis-based Thrivent Financial provided the loan, which features a 10-year term and a fixed interest rate, on behalf of an undisclosed, out-of-state borrower.
