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Eastex-59-Houston
DevelopmentIndustrialTexas

Provident Industrial, Junction Underway on 740,404 SF Project in North Houston

by Taylor Williams

HOUSTON — Provident Industrial, in partnership with Junction Commercial Real Estate, is underway on Eastex 59, a 740,404-square-foot project in North Houston. The site spans 62.5 acres and is located just east of George Bush Intercontinental Airport. The development will consist of four buildings that will range in size from 148,075 to 224,133 square feet. Three of the buildings will feature front-load configurations, and the fourth will have a cross-dock configuration. Eastex 59 will also offer users a total of 246 dock doors and parking for 522 cars and 200 trailers. Seeberger Architecture is designing the project, and Langan is providing civil engineering services. Completion is slated for late 2026.

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DevelopmentIndustrialTexas

Finial Group Completes 169,860 SF Industrial Complex in Southwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage and development firm Finial Group has completed construction of a 169,860-square-foot industrial complex in southwest Houston. The property consists of seven freestanding buildings on a 20-acre site at 6811 McHard Road that were developed in three phases over the past five years. Finial Group completed and sold the first two buildings in 2020 and subsequently broke ground on the next two buildings in 2021. Those facilities are now leased to Precision Manufacturing and TradeBlock Inc.

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AcquisitionsIndustrialSelf-StorageTexas

Versal Arranges Sale of 143-Unit RV, Boat Storage Facility in Magnolia, Texas

by Taylor Williams

MAGNOLIA, TEXAS — Versal, a self-storage brokerage firm with offices in Austin and Los Angeles, has arranged the sale of Carraway RV & Boat Storage, a 143-unit facility located in the northwestern Houston suburb of Magnolia. The facility spans 70,893 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the locally based seller, M&T Interests LLC, in the transaction. The team also procured the undisclosed, Houston based buyer.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 21,418 SF Industrial Lease in Round Rock, Texas

by Taylor Williams

IRVING, TEXAS — Lee & Associates has negotiated a 21,418-square-foot industrial lease in the northern Austin suburb of Round Rock. According to LoopNet Inc., the building at 350 Texas Ave. was completed earlier this year, totals 107,298 square feet and features 28-foot clear heights, two drive-in bays and 20 dock doors. Adam Green and Will Sallis of Lee & Associates represented the landlord, Mississippi-based REIT EastGroup Properties, in the lease negotiations. The name and representative of the tenant were not disclosed.

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AcquisitionsOfficeRetailTexas

SRS Real Estate Brokers Sale of 20,141 SF Office, Retail Complex in Waxahachie, Texas

by Taylor Williams

WAXAHACHIE, TEXAS — SRS Real Estate Partners has brokered the sale of North Grove Cetner I and II, a 20,141-square-foot office and retail complex in the southern Dallas suburb of Waxahachie. The property consists of a 15,641-square-foot retail and office property that is fully leased to 11 tenants, as well as a 4,500-square-foot, single-tenant structure that is occupied by Fish City Grill. Michael Kaplan, Matthew Mousavi and Patrick Luther of SRS represented the seller, a Texas-based family office, in the transaction. The buyer was also a Texas-based family office that acquired the property in an off-market deal.

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AcquisitionsGeorgiaOfficeSoutheast

CP Group Purchases 2.2 MSF Piedmont Center Office Campus in Atlanta’s Buckhead District

by John Nelson

ATLANTA — CP Group has purchased Piedmont Center, a 2.2 million-square-foot office campus located off Piedmont Road in Atlanta’s Buckhead district. The Boca Raton, Fla.-based investor and landlord acquired the 14-building campus in an all-cash transaction. The Atlanta Business Chronicle reports that CP Group purchased the 46-acre office park at a foreclosure auction in partnership with Austrian bank Bawag Group for $200 million. The news outlet reported that former owner, Ardent Cos., defaulted on its loan tied to Piedmont Center from Morgan Stanley. The previous owner announced unfulfilled plans in 2023 to develop a concentration of food-and-beverage offerings at Piedmont Center dubbed Oxton, named after the “O” and “X” shape of two of the office buildings on the campus. CP Group plans to offer more food-and-beverage options at Piedmont Center, as well as expand amenities including conference facilities, fitness centers, lobbies and outdoor common areas. The firm also plans to install its suite of high-end speculative suites branded “worCPlaces” at the campus.

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FloridaLoansOfficeSoutheast

Newmark Arranges $77.2M Refinancing for Office Tower in Aventura, Florida

by John Nelson

AVENTURA, FLA. — Newmark has arranged a $77.2 million loan for the refinancing of Onyx Tower, a 28-story office tower in Aventura, a northern suburb of Miami. The borrower, an entity doing business as Onyx Tower LLC, delivered the tower in 2023. The building is one of two towers on the site. Jordan Roeschlaub, Jonathan Firestone, Nick Scribani and Chris Lozinak of Newmark secured the financing from Barings. Onyx Tower’s amenities include a rooftop pool with ocean views, a fitness center, outdoor jogging trail, full-floor conference facilities, electric vehicle charging stations and onsite dining options. Miami-based Blanca Commercial Real Estate handles leasing at Onyx Tower, according to the property website.

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ArkansasDevelopmentSoutheastStudent Housing

Subtext, Kayne Anderson to Break Ground on 845-Bed Student Housing Development Near University of Arkansas

by John Nelson

FAYETTEVILLE, ARK. — A joint venture between Subtext and Kayne Anderson is set to break ground on VERVE Fayetteville, an 845-bed student housing development located at 707 W. Treadwell St. near the University of Arkansas campus in Fayetteville. The community will span 532,300 square feet and offer 272 units in one- through four-bedroom configurations. The property will feature 33,000 square feet of indoor and outdoor amenity spaces, including open and private study areas; a coffee café; sports simulator; resort-style pool and hot tub; fire pits; and a fitness and wellness center with cardio equipment, weights, yoga rooms, private wellness rooms and a sauna. The project is scheduled for completion in August 2027. The development team includes Kennedy Wilson, Brinkmann Constructors, Modus Studio and Vida Design. Additional contributors include AJC Design Group, Viewtech, McClelland Consulting Engineers and ENGR3. John Rowland and Steve Lane of Colliers | Arkansas served as the exclusive brokers on the sale of the VERVE Fayetteville development site.

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GeorgiaIndustrialLeasing ActivitySoutheast

JLL Negotiates 150,000 SF Cold Storage Lease in West Atlanta

by John Nelson

ATLANTA — JLL has negotiated a 150,000-square-foot lease with locally based Porter Logistics at Logistics Pointe, an industrial facility located at 605 Selig Drive on Atlanta’s west side. Porter Logistics already occupies 266,813 square feet of dry storage at the facility, bringing the third-party logistics firm’s footprint in the building to 412,513 square feet. Austin Kriz of JLL represented the tenant in the lease negotiations. The landlord was Covington Group Inc. Porter Logistics is backfilling recently vacated space at the 650,259-square-foot industrial facility, which features 20 exterior dock doors, four drive-in bays and clear heights ranging from 24 to 27 feet.

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Linden-Logistics-Center
IndustrialLoansNew JerseyNortheast

Cushman & Wakefield Arranges $300M in Permanent Financing for Northern New Jersey Industrial Buildings

by Taylor Williams

LINDEN, N.J. ­— Cushman & Wakefield has arranged $300 million in permanent financing for Buildings 300, 400 and 700 within Linden Logistics Center in Northern New Jersey. Linden Logistics Center is a newly completed development that was 94 percent leased at the time of the loan closing to tenants such as Samsung Electronics America, Vanguard Logistics, Fabuwood Cabinetry and OCM Globe. Buildings at the property feature a mix of front-load and cross-dock configurations as well as clear heights of 40 feet. John Alascio, Alex Hernandez, Chuck Kohaut, T.J. Sullivan and Mitch Rothstein of Cushman & Wakefield arranged the fixed-rate debt on behalf of the borrower, a partnership between Advance Realty Investors and Greek Real Estate Partners. The direct lender was not disclosed.

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