BRYAN, TEXAS — Austin-based developer Teeple Partners has broken ground onOaks Reserve Apartments, a 312-unit multifamily project that will be located in the Central Texas city of Bryan. Units will come in one-, two- and three-bedroom floor plans and will range in size from 668 to 1,520 square feet. Amenities will include a pool, fitness center, conference room, pickleball courts and multiple dog parks. Oaks Reserve, which represents the second of three phases of a larger development that will span more than 1,000 units across 53 acres, will feature multiple three- and four-story buildings. The first phase, the 315-unit Brazos Oaks, was completed this summer.
Texas
MERCEDES, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged $23.4 million in acquisition financing for a 2,920-square-foot travel center in Mercedes, located in South Texas’ Hidalgo County. The address was not disclosed, but the facility is located off East I-2. Ron Balys of MMCC arranged the 10-year loan, which carried a 6.75 percent interest rate and a 70 percent loan-to-value ratio, through an undisclosed national credit union. The borrower was also not disclosed.
SAN ANTONIO — A partnership between Dallas-based Apricus Realty Capital and Baltimore-based ABR Capital Partners has purchased a 4.3-acre industrial outdoor storage (IOS) facility in San Antonio. The facility at 8799 Crownhill Blvd. is situated adjacent to San Antonio International Airport and features crane-served warehouse space, maintenance facilities, a concrete storage yard and multiple drive-in loading positions. The facility was fully leased at the time of sale. The seller and sales price were not disclosed.
NEW BRAUNFELS, TEXAS — Dallas-based investment firm CanTex Capital has acquired an 18,535-square-foot industrial building in New Braunfels, a northeastern suburb of San Antonio. According to LoopNet Inc., the single-tenant building at 7570 I-35 was completed in 2023. The building can also support industrial outdoor storage use. Patrick Cromwell of Savills represented CanTex in the transaction. The seller and sales price were not disclosed.
HOUSTON — Dallas-based development and investment firm Mohr Capital has broken ground on Oates 610, a 371,388-square-foot warehouse in East Houston. The site spans 22.3 acres at the intersection of I-610, I-10 and U.S. Highway 90. Oates 610 will feature a cross-dock configuration, 36-foot clear heights, 80 dock doors and 91 trailer storage stalls. Ware Malcomb is the project architect, and Kimley-Horn is the civil engineer. Cadence McShane is the general contractor, and JLL is the leasing agent. Construction is expected to be complete in the second quarter of next year.
HOUSTON — American Landmark, a Tampa-based owner-operator, has acquired Toscana Parkway, a 292-unit apartment complex in southeast Houston. Built in 2009, Toscana Parkway offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, sauna, clubhouse, business center, volleyball court, children’s playground and poolside grilling areas. The new ownership plans to make capital improvements to the property. The seller and sales price were not disclosed.
DENTON, TEXAS — Cushman & Wakefield has brokered the sale of M380 Business Park, a 104,250-square-foot industrial park in the North Texas city of Denton. The property comprises three shallow-bay buildings that were fully leased at the time of sale. Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt and Trevor Berry of Cushman & Wakefield represented the seller, Box Investment Group, in the transaction. Will Crowley of HNL Capital Advisors represented the buyer, Lanihau Properties.
SUGAR LAND, TEXAS — Primoris Services Corp. (NYSE: PRIM) has signed a 25,352-square-foot office lease in the southwestern Houston suburb of Sugar Land. The provider of contractor services for the energy industry is taking space on the eighth floor of the building at 2150 Town Square Place, which is part of the Sugar Land Town Square mixed-use development. Primoris was self-represented in the lease negotiations. Bubba Harkins, Jenny Sealy and Joel Douthit of CBRE represented the undisclosed landlord.
PEARLAND, TEXAS — Planned Community Developers (PCD) has received approval from the City Council of Pearland, a southern suburb of Houston, and has closed on the land for a 120-acre mixed-use development. The site is located at the nexus of U.S. Highway 288 and Beltway 8, and the development will be known as The Orchard. Plans currently call for 250,000 square feet of retail, dining and entertainment space, 150,000 to 300,000 square feet of office space and approximately 1,100 multifamily units and 100 single-family homes. CBRE has been tapped as the leasing agent for the retail component, and JLL is handling marketing of the future office space. A construction timeline was not announced.
DALLAS — Dallas-based investment firm Ridgeline Capital Partners has acquired a portfolio of four medical office buildings totaling 117,433 square feet in Texas. One building is located in the eastern Austin suburb of Bastrop, and the other three are scattered across the Houston-area cities of Montgomery, Conroe and Huntsville. The buildings were constructed between 2004 and 2010 and are home to tenants such as CHI St. Luke’s Health, Liberty Dialysis, North Pines Surgery Center and RapidCare Emergency Room. Occupancy was 86 percent at the time of sale. The seller and sales price were not disclosed.
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