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RoyOMartin-Corrigan-Texas
DevelopmentIndustrialTexas

RoyOMartin Underway on $115M Manufacturing Expansion Project in Corrigan, Texas

by Taylor Williams

CORRIGAN, TEXAS — RoyOMartin, a provider of plywoods, timbers and boards, is underway on $115 million manufacturing expansion project in Corrigan, about 100 miles northeast of Houston. The project involves the construction of a 370,400-square-foot facility that will complement RoyOMartin’s existing, 407,125-square-foot plant. The new facility is expected to account for the creation of about 120 new jobs and to increase RoyOMartin’s total production capacity across its 150-acre campus by 70 percent.

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Affordable HousingDevelopmentMultifamilyTexas

Partnership Opens $24.3M Affordable Housing Complex in South Austin

by Taylor Williams

AUSTIN, TEXAS — A partnership between SGI Ventures and the Austin Housing Finance Corp. has opened The Roz, a $24.3 million affordable housing complex on the city’s south side. The four-story building houses 100 units that are reserved for households earning between 30 and 60 percent of the area median income, with select units earmarked for formerly homeless individuals. The Federal Home Loan Bank of Dallas provided a $2 million grant as part of the financing package for The Roz.

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AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 204-Site RV Park in Midland, Texas

by Taylor Williams

MIDLAND, TEXAS — Marcus & Millichap has brokered the sale of a 204-site RV park in the West Texas city of Midland. RV Midland was built on a seven-acre site in 2018 and includes nine acres for future expansion. Skyler Henderson and Brad Dorsey of Marcus & Millichap represented the Louisiana-based seller and procured the California-based buyer, both of which requested anonymity, in the transaction.

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AcquisitionsIndustrialTexas

Stream Realty Negotiates Sale of 33,280 SF Industrial Building in West Houston

by Taylor Williams

HOUSTON — Stream Realty Partners has negotiated the sale of a 33,280-square-foot industrial building in West Houston. The building at 1045 Heritage West Drive was completed earlier this year and features 28-foot clear heights. Tyler Maner and Will Mason of Stream represented the buyer, SWI Valve International, in the transaction. The seller was a partnership between Urban Cos. and Insite Realty Partners.

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Rambler-Northgate-College-Station
DevelopmentMultifamilyStudent HousingTexas

LV Collective, Peninsula Break Ground on 922-Bed Student Housing Project in College Station, Texas

by Taylor Williams

COLLEGE STATION, TEXAS — A joint venture between LV Collective and Peninsula Investments has broken ground on Rambler Northgate, a 922-bed student housing project located near Texas A&M University in College Station. The building will rise 24 stories and offer 342 units in one-, two, three-, four-, five- and six-bedroom configurations with bed-to-bath parity. Shared amenities will include a pool with multiple hot tubs; coworking space with private study rooms; a fitness center with a yoga studio, sauna and cold plunge; and a multi-sport simulator and jumbotron. UMB is providing construction financing for the project. The development team includes Oz Architecture, JE Dunn, Variant Collaborative and Site Design Group. Completion is slated for 2028.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 314-Unit Self-Storage Facility in Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of HP Storage, a 314-unit self-storage facility in Houston. Built in 2016 and expanded in 2019, HP Storage sits on a 4.5-acre site on the city’s northwest side and consists of five one-story buildings and one three-story building. Units offer climate- and non-climate-controlled space, as well as flexible configurations for retail/office uses and units dedicated to container storage. Dave Knobler, Mixson Staffel and Charles LeClaire of Marcus & Millichap represented the Texas-based seller and procured the New York-based buyer, both of which requested anonymity, in the transaction.

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LoansRetailTexas

Nuveen Green, Lone Star PACE Provide $8M C-PACE Loan for West Houston Retail Project

by Taylor Williams

HOUSTON — Nuveen Green Capital and Lone Star PACE have provided an $8 million C-PACE (Commercial Property Assessed Clean Energy) loan for Ashford Yard, an 83,000-square-foot retail project in West Houston. Ashford Beer Garden has preleased 21,000 square feet as the anchor tenant of the development. Loan proceeds will be used to install a high-efficiency building envelope and windows, upgraded HVAC systems, enhanced lighting fixtures and water systems with low-flow plumbing fixtures. The borrower was not disclosed.

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IndustrialLeasing ActivityTexas

LanCarte Commercial Negotiates 50,099 SF Industrial Lease in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — Locally based brokerage firm LanCarte Commercial has negotiated a 50,099-square-foot industrial lease in Grand Prairie, located roughly midway between Dallas and Fort Worth. The space is located within Suite 200 at the building at 1201 Avenue S. Parker LanCarte and Mark Boone of LanCarte, along with Chris Routledge of Westbrook Real Estate, represented the tenant, thrift store retailer Brightmore Brands, in the lease negotiations. CBRE represented the undisclosed landlord.

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XSpace-Group-Houston
DevelopmentIndustrialLoansTexas

IPA Arranges $29M in Construction Financing for Northwest Houston Industrial Project

by Taylor Williams

THE WOODLANDS, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $29 million in construction financing for an industrial project in northwest Houston. The square footage was not disclosed, but the development will have 84 condo-style units. Known as Lifestyle Industrial, the project is designed to incorporate elements of office, retail and entertainment. Adam Mengacci, Travis Headapohl and Matt Polci of IPA arranged the loan on behalf of the developer, X Space Group. The direct lender was also not disclosed.

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AcquisitionsNet LeaseRetailTexas

RealSource Arranges $5.4M Sale of Single-Tenant Retail Building in Kemah, Texas

by Taylor Williams

KEMAH, TEXAS — California-based brokerage firm RealSource Group has arranged the $5.4 million sale of a single-tenant retail building in Kemah, located southeast of Houston, that is net leased to Mister Car Wash (NASDAQ: MCW). The 5,462-square-foot building was constructed in 2021 and is backed by a fully guaranteed corporate lease. Austin Blodgett and Jonathan Schiffer of RealSource Group, in association with ParaSell, Inc., represented the seller, a local private investor, in the transaction. Chase Cameron of Matthews represented the buyer. Both parties requested anonymity.

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