Texas

Imperial-Crossing-Houston

HOUSTON — Transwestern has completed Imperial Crossing, a two-building, 321,104-square-foot industrial project located at the intersection of Richey Road and Imperial Valley Drive in North Houston. Building 1 totals 242,603 square feet and features a cross-dock configuration and 36-foot clear heights. Building 2 spans 78,501 square feet and has a front-load design and 32-foot clear heights. Both buildings can accommodate tenants with full-building requirements or spaces as small as 35,000 square feet. Transwestern is also the leasing agent for Imperial Crossing.

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NEW BRAUNFELS, TEXAS — Metro Denver-based investment firm Platte Canyon Capital (PCC) has acquired Northwood Apartments, a 252-unit multifamily complex located northeast of San Antonio in New Braunfels. Northwood Apartments was built in phases between 1998 and 2017 and offers one- and two-bedroom units. PCC plans to update and renovate amenity spaces, including the pool, fitness center, parking areas and clubhouse, as well as building exteriors. The property was 70 percent occupied at time of sale. The undisclosed seller was the property’s original developer.

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IRVING, TEXAS — Cushman & Wakefield has negotiated a 172,089-square-foot office lease in Irving’s Las Colinas district. The new tenant, religious nonprofit organization Mercury One, will occupy the entirety of the building at 6655 N. MacArthur Blvd., which was developed in 1997. Matt Schendle and Mary Frances Burnette of Cushman & Wakefield represented the owner, Orion Properties, in the lease negotiations. Steve Wentz, also with Cushman & Wakefield, represented the tenant.

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SAN MARCOS, TEXAS — Marcus & Millichap has brokered the sale of Centerpoint Plaza, a 13,611-square-foot retail strip center in San Marcos, located roughly midway between Austin and San Antonio. The center was fully leased at the time of sale, with a freestanding Starbucks serving as the anchor tenant. Coleman Solomon, Joseph Blanga and Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors that requested anonymity, in the transaction.

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Alliance-Westport-16-Fort-Worth

FORT WORTH, TEXAS — Hillwood has broken ground on a 1.2 million-square-foot speculative industrial project at within its AllianceTexas master-planned community in North Fort Worth. Alliance Westport 16 will feature 40-foot clear heights and 276 trailer parking spaces (expandable to 504 total onsite spaces), and the site can also potentially support a tri-load configuration and 190-foot truck court depths. GSR Andrade is the project architect, and Westwood is the civil engineer. Fifth Third Bank is financing construction, which is slated for a summer 2027 completion.

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The-Legacy-San-Antonio

SAN ANTONIO — CBRE has arranged an undisclosed amount of acquisition financing for The Legacy, a 353,000-square-foot retail property in San Antonio. Built on 32 acres in 2006, The Legacy is home to tenants such as Main Event Entertainment, Best Buy and Buffalo Wild Wings. John Fenoglio and Brock Hudson of CBRE arranged the financing on behalf of the owner, a partnership between San Diego-based Rio Capital Investments and Triangle Capital Group. The direct lender was not disclosed. Barry Brown, Whitney Snell and Shea Petrick of JLL represented the seller, Santikos Real Estate Services, in the disposition.

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DENISON, TEXAS — Marcus & Millichap has brokered the sale of A-Alpha Self Storage, a 306-unit facility in the North Texas city of Denison. Built on 4.2 acres between 1996 and 2008, the facility spans 41,959 net rentable square feet of non-climate-controlled space, as well as five permanent shipping containers and one office space. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, a Dallas-Fort Worth owner-operator that similarly requested anonymity.

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HOUSTON — Lument has provided a $14.4 million Fannie Mae acquisition loan for Aspen Forest, a 144-unit, garden-style multifamily property in northwest Houston. Built in 1985 and renovated in 2020, Aspen Forest comprises 36 buildings that exclusively house two-bedroom units. Ted Nasca of Lument originated the loan, which carries a fixed interest rate, five-year term with partial interest-only payments and a 30-year amortization schedule. The borrower is Cube Equity Group.

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Alesio-Urban-Center-Irving

IRVING, TEXAS — Berkadia has arranged a $124.6 million loan for the refinancing of Alesio Urban Center, a mixed-use property in Irving’s Las Colinas district that consists of 908 apartments and 55,499 square feet of commercial space. Developed on 17.3 acres in phases between 1987 and 1995, Alesio Urban Center comprises 14 residential buildings, a structured parking garage and 23 commercial spaces. Residences come in one-, two- and three-bedroom floor plans, and amenities include five pools, a fitness center with yoga and Pilates studios, a business center, game lounge, running trail and a media/theater room. Blackstone provided the loan to the owner, Harbor Group International. Charles Foschini, Christopher Apone, Shannon Wilson and Lourdes Carranza-Alvarez led the debt placement efforts for Berkadia.

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Kenswick-at-1960-Humble

HUMBLE, TEXAS — Local developer Triten Real Estate Partners has delivered a roughly 400,000-square-foot distribution center in the northern Houston suburb of Humble. Known as Kenswick at 1960, the property consists of two buildings that feature 36-foot clear heights, approximately 9,000 square feet of office space and “ample” trailer and car parking. The site also includes more than five acres of outdoor storage space. Method Architecture designed the project, and Harvey Cleary served as the general contractor. Grey Wolf acted as civil engineer. CBRE is the leasing agent.

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