HOUSTON — Outrigger Industrial has sold a 1 million-square-foot building within Generation Park, a 4,000-acre master-planned development in northeast Houston. The building sits on a 72-acre site at 12515 Lockwood Road and features 40-foot clear heights, ESFR sprinkler systems and “abundant” car and trailer parking. The buyer and sales price were not disclosed. Additionally, Outrigger has entered into a lease with Representative Materials Co. for the entirety of its other, 255,871-square-foot building within Generation Park. Jarret Venghaus, Jeff Venghaus and David Holland represented Outrigger in both transactions. JLL also represented both the buyer in the sale and the tenant in the lease negotiations.
Texas
HOUSTON AND SAN ANTONIO — Tulsa-based TruCore Industrial has acquired a portfolio of two industrial properties totaling 72,710 square feet, one of which is located in Houston and the other of which is located in San Antonio. Both buildings were fully leased at the time of sale to Sparkstone Electrical Group, a manufacturer of power distribution and control equipment. The seller and sales price were not disclosed.
FORT WORTH, TEXAS — Locally based brokerage firm LanCarte Commercial has arranged the sale of a 33,000-square-foot industrial building in South Fort Worth. The single-tenant building at 7610 Will Rogers Blvd. is located within Carter Industrial Park. Sarah LanCarte of LanCarte Commercial brokered the deal on behalf of the undisclosed seller. The buyer, which was also not disclosed, plans to use the building for manufacturing.
PLANO, TEXAS — Remedi SeniorCare of Dallas has signed a 10,248-square-foot lease renewal at 2600 Research Drive, a flex building in Plano. Brian Pafford and Jared Laake of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Kennington Research LLC, in the lease negotiations. Jude Collins and Jake Griffin of Cushman & Wakefield represented the tenant.
FORT WORTH, TEXAS — Hillwood is underway on construction of two speculative industrial buildings totaling 769,858 square feet at AllianceTexas, the developer’s master-planned community in North Fort Worth. Alliance Gateway 70 and Alliance Gateway 71 will total 268,623 and 501,235 square feet, respectively. Alliance Gateway 70 will feature a rear-load configuration, 36-foot clear heights, 47 dock doors, two drive-in ramps, 185-foot truck court depths and parking for 270 cars and 68 trailers. Alliance Gateway 71 will feature 40-foot clear heights, 105 dock doors, four drive-in ramps, 185-foot truck court depths and parking for 294 cars and 149 trailers. Planned speculative tenant improvements for both buildings include approximately 2,500 square feet of main office space, LED warehouse lighting and 20 full dock door packages with seals, bumpers, lights and mechanical levelers. RGA Architects designed the buildings, with Westwood handling civil engineering. Enterprise Bank and Comerica Bank are respectively financing construction of the two buildings. Construction of both buildings is expected to be complete before the end of the year.
WACO, TEXAS — Tailwind Group has acquired The Outpost Waco, a 543-bed student housing community located near the Baylor University campus, with plans to commence renovations in June. Capital improvements will include a redesigned clubhouse with a modern lounge and gaming areas, dedicated study zones and private conference rooms; the addition of a new 24-hour market; improved technology throughout the community; and a complete refresh of the property’s fitness center with increased space, new equipment and a spa-style sauna. The community’s exterior is also set to undergo upgrades, including renewed pool areas with new furniture and grills, revitalized outdoor recreational facilities, updated landscaping and improvements to the building’s exteriors. Renovations are scheduled for completion by this November. The seller and terms of the transaction were not released.
TAYLOR, TEXAS — Oak Street Capital, an Austin-based financial intermediary, has arranged a $15 million construction loan for a mixed-use project that will be located in the Central Texas city of Taylor. The site is located along Second Street, and the project will be an 82-unit condo and retail development. Brian Hampton led the Oak Street Capital team on the debt placement. The lender was First Bank of The Southwest, and the borrower was Metropolitan Development Co. A groundbreaking ceremony took place on March 25.
CORINTH, TEXAS — The Boulder Group, a brokerage firm specializing in net-lease deals, has negotiated the $4.7 million sale of a 12,983-square-foot retail building in Corinth, located north of the metroplex in Denton County. CVS occupies the building at 1101 FM 2181. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a West Coast-based private investor, in the transaction. The buyer was a Southeast-based private investor. Both parties requested anonymity.
SAN MARCOS, TEXAS — Elevate Development Partners has received $116 million in acquisition and construction financing for the development of a 759-bed student housing community near Texas State University in San Marcos. The 260-unit project is being developed in partnership with Flintco. S3 Capital provided financing for the development, which will span 280,124 square feet. Shared amenities are set to include a social lounge, bicycle room, package room, resort-style pool, yoga and wellness room, fitness center, study lounges and conference rooms. Preiss has been tapped to manage the community upon completion. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Dustin Stolly of Walker & Dunlop arranged the financing on behalf of the developer.
DALLAS — Locally based investment firm CanTex Capital has sold its majority interest in a portfolio of 20 shallow-bay industrial properties totaling approximately 1.3 million square feet in Dallas-Fort Worth. Ther percentage and sales price were not disclosed. Spanning 61 acres, the portfolio comprises buildings in submarkets such as South Stemmons, Northwest Dallas and DFW Airport. Buildings feature 16- to 30-foot clear heights and a mix of dock-high and drive-in loading doors. The buyer was a partnership between Partners Group and a global investor based in New York.
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