CLX Ventures, Principal Real Estate Break Ground on 1.2 MSF Industrial Project in Denton, Texas

DENTON, TEXAS — A partnership between Dallas-based developer CLX Ventures and Principal Real Estate Investors has broken ground on a 1.2 million-square-foot industrial project in the North Texas city of Denton. The development, which has been branded ICC-35, will consist of three buildings ranging in size from 123,584 to 702,766 square feet that will be situated on a 73-acre site along I-35. Buildings will feature clear heights of 32 to 36 feet, truck court depths of 135 to 185 feet and a …

August 10, 2022Development, Industrial, Texas

Sunsail Capital, ZaneCRE Acquire 350-Unit Multifamily Property in Metro Houston

HUMBLE, TEXAS — A partnership between New York-based Sunsail Capital and Dallas-based ZaneCRE has acquired Sarah at Lake Houston, a 350-unit multifamily property located in the northern Houston suburb of Humble. Built in 2020, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, multi-sport simulator, business and conference center, dog park and a biergarten. Zack Springer of Newmark brokered the transaction. Purvesh Gosalia, also with …

August 10, 2022Acquisitions, Multifamily, Texas

Berkadia Negotiates Sale of 206-Unit Workforce Housing Community in Metro Houston

TOMBALL, TEXAS — Berkadia has negotiated the sale of Bridgewater Apartments, a 206-unit workforce housing community in the northern Houston suburb of Tomball. Built in phases between 1979 and 1982, Bridgewater Apartments contains one- and two-bedroom units ranging in size from 670 to 944 square feet. The amenity package comprises a resident kitchen, clubroom, business center, pool, picnic areas with grilling stations, an enclosed pet park and open green spaces. Joey Rippel, Chris Young, Kyle …

August 10, 2022Acquisitions, Multifamily, Texas

Northmarq Arranges Sale of 120-Unit Sun Valley Apartments in Portland, Texas

PORTLAND, TEXAS — Northmarq has arranged the sale of Sun Valley Apartments, a 120-unit multifamily complex in Portland, located outside of Corpus Christi in South Texas. The property was originally built in 1968 and offers a pool and onsite laundry facilities. Zar Haro and Phil Grafe of Northmarq represented the seller, McGuire Family Properties, in the transaction. The undisclosed buyer plans to implement a value-add

August 10, 2022Acquisitions, Multifamily, Northmarq, Texas

Prestige Autotech Signs 49,280 SF Industrial Lease in Arlington

ARLINGTON, TEXAS — California-based automotive parts manufacturer Prestige Autotech has signed a 49,280-square-foot industrial lease at 2001-2023 Exchange Drive in Arlington. According to LoopNet Inc. the property was built in 1972 and spans 187,840 square feet. Reed Parker and Mark Graybill of Lee & Associates represented the landlord, Link Logistics Real Estate, in the lease negotiations. Greg Nelson and Jimmy Holcomb of Paladin Partners represented the

August 10, 2022Industrial, Leasing Activity, Lee & Associates, Texas

The Great CRE Resignation: What Texas Companies Need to Know

By Kent Elliott, principal, and Chase Fryhover, director, RETS Associates By now, we’re all familiar with the Great Resignation — workers’ mass exodus from their jobs during the pandemic. The phenomenon hit just about every office-using industry, including commercial real estate. In fact, our firm recently conducted a survey of 200 individuals in the industry on job sentiment, which revealed that more than 75 percent of respondents intend to or would consider leaving their current …

August 10, 2022Market Reports, Texas, Texas Market Reports

Lee & Associates’ Second-Quarter 2022 Economic Rundown by Sector

Rising interest rates, inflation and general economic uncertainty altered the patterns and outlooks for the industrial, office, retail and multifamily sectors across the United States. As Lee & Associates’ recent Q2 2022 North America Market Report reveals, certain sectors like industrial and multifamily, that were white hot last year, have begun to cool slightly. Meanwhile, retail is making historic gains in the face of decreasing interest in ecommerce. The full Lee & Associates …

August 10, 2022Content Partner, Features, Industrial, Leasing Activity, Lee & Associates, Life Sciences, Midwest, Multifamily, Northeast, Office, Retail, Southeast, Texas, Western

Northmarq Arranges Acquisition Financing for 1,134-Unit Multifamily Portfolio in Houston

HOUSTON — Northmarq has arranged an undisclosed amount of acquisition financing for a portfolio of three multifamily assets totaling 1,134 units that are located throughout the metro Houston area. Sedona Square is a 250-unit property that was built in phases in the early 1980s and offers one-, two and three-bedroom apartments. Verano was constructed in 1980 and totals 312 units in one- and two-bedroom formats. Rock Creek at Hollow Tree, also constructed in 1980, comprises 572 residences in …

August 9, 2022Loans, Multifamily, Northmarq, Texas

Provident Realty Advisors to Develop 308,270 SF Spec Industrial Project in El Paso

EL PASO, TEXAS — Dallas-based Provident Realty Advisors will develop a 308,270-square-foot speculative industrial project in El Paso. The facility will be situated on an 18.4-acre site near the intersection of Windermere Avenue and Loop 375 and will have both warehouse and distribution space. Building features will include 32-foot clear heights and 190-foot truck court depths. Construction is set to begin toward the end of the year. CBRE represented the seller of the land, River Oaks …

August 9, 2022Development, Industrial, Texas

IPA Negotiates Sale of 288-Unit Vantage at O’Connor Apartments in San Antonio

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Vantage at O’Connor, a 288-unit apartment community in northeast San Antonio. The property was built in 2020. According to Apartments.com, Vantage at O’Connor offers one-, two- and three-bedroom units ranging in size from 605 to 1,150 square feet and amenities such as a pool, fitness center, media lounge, two pet parks and package concierge services. Will Balthrope and …

August 9, 2022Acquisitions, Multifamily, Texas