Texas

Clay Development to Build 214,300 SF Spec Distribution Center in Houston

by Taylor Williams October 4, 2018

HOUSTON — Clay Development & Construction Inc. will build Sheldon Distribution Center I, a 214,300-square-foot industrial property in Houston. The property, which is being developed on a speculative basis, will be situated on an 11.2-acre site that allows for expansion of up to 385,000 square feet. Building features will include 32-foot clear heights, 44 dock-high doors, a 135-foot truck court, 104 employee parking spots and the option of 29 trailer parking spots. The groundbreaking is scheduled for Dec. 1 and completion is slated for the second quarter of 2019. Frost Bank provided construction financing for the project. NAI Partners will lease the property.

October 4, 2018

Acquisitions Multifamily Texas

SWBC Acquires 216-Unit Apartment Community in Northwest Houston

by Taylor Williams October 4, 2018

HOUSTON — Dallas-based multifamily developer SWBC Real Estate LLC has acquired Cypress Lake Apartments, a 216-unit multifamily community in northwest Houston. Built in 1995, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor grilling area and a private lake with an encompassing jogging trail. Cypress Lake Apartments, which SWBC acquired as a value-add investment, was 90 percent occupied at the time of sale.

October 4, 2018

Leasing Activity Office Texas

Management Consulting Firm to Relocate to 56,703 SF Office Space in Frisco

by Taylor Williams October 4, 2018

FRISCO, TEXAS — Management consulting firm Brierley+Partners will relocate its global headquarters to The Offices One at Frisco Station, taking 56,703 square feet of office space at the 242-acre Frisco Station development located on the northern outskirts of Dallas. The move is intended to facilitate collaboration between the company’s global offices in Los Angeles, Tokyo and London. Randy Cooper, Craig Wilson, Kate Sudol and Wills Bauer of Cushman & Wakefield represented Brierley+Partners in the lease negotiations. Johnny Johnson, Chris Taylor and Clint Madison, also of Cushman & Wakefield, represented the landlord, VanTrust Real Estate, which developed the building.

October 4, 2018

Acquisitions Healthcare Texas

NKF Capital Markets Arranges Sale of 34,794 SF Medical Office Property in Dallas

by Taylor Williams October 4, 2018

DALLAS — NKF Capital Markets has arranged the sale of Northpoint III, a 34,794-square-foot medical office building in Dallas. The two-story property is fully leased to Texas Health Resources. Sean Fulp, Garth Hogan, Ryan Plummer and Mark Schuessler of NKF Capital Markets represented the seller, a California-based private investor. The buyer, Rich Uncles NNN REIT, was self-represented.

October 4, 2018

Acquisitions Mixed-Use Texas

FPA, Trinity Buy Mixed-Use Development in Houston

by Taylor Williams October 3, 2018

HOUSTON — A partnership between San Francisco-based FPA Multifamily LLC and Southern California-based Trinity Property Consultants has acquired a mixed-use development located at the intersection of Westheimer Road and Kirby Drive in Houston. The sale includes the 397-unit Gables West Ave. apartment community, which will be rebranded Arrive River Oaks, and the 193,895-square-foot West Avenue River Oaks shopping center, which will be rebranded Shops at Arrive. Retail users at the property include TOOTSIES, Milk & Honey and Eddie V’s Prime Seafood. The new ownership will upgrade the apartment community’s amenity spaces, including the dog park, fitness center and pool area.

October 3, 2018

Prado-University-of-Texas-at-San-Antonio

Acquisitions Multifamily Student Housing Texas

Arrimus Capital Acquires 472-Bed Student Housing Property in San Antonio

by Taylor Williams October 3, 2018

SAN ANTONIO — California-based investment and development firm Arrimus Capital has acquired Prado, a 472-bed student housing property located adjacent to the University of Texas at San Antonio in the Alamo City. The 160-unit property features amenities such as a pool, clubhouse with media area, game room, kitchen and study areas, 24-hour fitness center and a business center with study rooms. The property also includes two onsite restaurants, a coffee house and a barbershop. The seller was Dallas-based Fountain Residential.

October 3, 2018

Acquisitions Multifamily Texas

Greystone Brown Arranges $51.7M Sale of Apartment Property in San Antonio

by Taylor Williams October 3, 2018

SAN ANTONIO — Greystone Brown Real Estate Advisors has arranged the $51.7 million sale of Avocet Apartments, a 336-unit apartment property in San Antonio. Built in 2017, the community includes amenities such as a pool, fitness center, clubhouse, business center, coffee bar, car care center and a dog park. Atlanta-based Benimax Investment Group Inc. purchased the property from Stone River. Taylor Brown, Steve Mack and Bo Brown of Greystone Brown represented both parties in the transaction.

October 3, 2018

Development Industrial Texas

Schneider Electric Signs 112,721 SF Industrial Lease in El Paso

by Taylor Williams October 3, 2018

EL PASO, TEXAS — Schneider Electric USA, an Illinois-based manufacturer of electrical distribution products and a subsidiary of French multinational firm Schneider Electric SE, has signed an industrial lease in El Paso. The company will occupy 112,721 square feet at 1701 Northwestern Drive, located on the city’s north side. Anthony Mash of CBRE represented the landlord, Boston-based STAG Industrial, in the lease negotiations. Adin Brown of Sonny Brown Associates represented the tenant.

October 3, 2018

Development Multifamily Seniors Housing Texas

A&P Completes 109-Unit Seniors Housing Community in Dallas

by Taylor Williams October 3, 2018

DALLAS — Adolfson & Peterson Construction (A&P) has completed a 109-unit seniors housing community located at 8130 Meadow Road in Dallas. The property consists of 80 skilled nursing units and 29 assisted living suites. Amenities include a bistro for coffee and retail, a restaurant-style dining room, health and wellness therapy gym and a full-service salon and spa. National architecture firm Page designed the property. Corsair Ventures is the developer and U.S. Freedom Capital provided project financing. Construction began in February 2016.

October 3, 2018

Acquisitions Industrial Texas

Cohen Asset Management Acquires Two Industrial Assets Totaling 1.3 MSF in Dallas

by Taylor Williams October 2, 2018

DALLAS — Southern California-based Cohen Asset Management Inc. has acquired two industrial assets totaling approximately 1.3 million square feet within Pinnacle Industrial Park in Dallas. The first property, a 1 million-square-foot bulk distribution building, features 178 exterior docks, six drive-in doors and 32-foot ceiling heights. The second property, a 327,600-square-foot warehouse, includes 62 exterior docks, three drive-in doors and 30-foot ceiling heights. Both assets were built in 2001. Steve Rowland of Transwestern represented Cohen in the acquisition from an undisclosed seller.

October 2, 2018

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