Texas

WGC Development Breaks Ground on 405-Bed Student Housing Property Near University of Houston

by Taylor Williams October 19, 2018

HOUSTON — WGC Development, in conjunction with an undisclosed institutional investor, has broken ground on Tower 5040, a 405-bed student housing community located near the University of Houston. The eight-story building will offer one-, two- and four-bedroom units. Select apartments will feature large balconies with fire pits. Shared amenities will include a swimming pool with an adjacent movie screen, a fitness center, conference room, business center, private study rooms, a game room, indoor and outdoor socializing areas and a dog park. Humphreys & Partners Architects designed the community, and Arch-Con Construction will handle construction. Nick Gonzalez of GRC Capital arranged equity and debt financing on behalf of the partnership. The property is set to open in summer 2020.

October 19, 2018

Development Multifamily Seniors Housing Texas

Sodalis to Build 73,777 SF Seniors Housing Community in College Station

by Taylor Williams October 19, 2018

COLLEGE STATION, TEXAS — Texas-based Sodalis Senior Living will build Sodalis College Station a 73,777-square-foot assisted living and memory care community that will be located less than three miles from Texas A&M University. The number of units was not disclosed, but the property will offer a mix of one-bedroom and studio residences. The official groundbreaking will take place on Wednesday, Oct. 24, and the opening is slated for late 2019.

October 19, 2018

Acquisitions Industrial Texas

Slater Sports Sells 62,132 SF Industrial Asset in Metro Houston

by Taylor Williams October 19, 2018

RICHMOND, TEXAS — Sporting goods provider Slater Sports LLC has sold 727 Plantation Drive, a freestanding, 62,132-square-foot industrial asset located in Richmond, a southwestern suburb of Houston. Burdette Huffman and Josh Jacobs of EDGE Realty Capital Markets represented Slater Sports in the transaction. Other terms of sale were not disclosed.

October 19, 2018

Leasing Activity Office Texas

Coworking Firm to Open 53,000 SF Space in Downtown Austin

by Taylor Williams October 19, 2018

AUSTIN, TEXAS — Coworking firm Spaces will open a 53,000-square-foot space at 501 Congress Ave. in downtown Austin. Kelly Woodruff and Mike Cleary of CBRE represented Spaces in the lease negotiations. Brent Powdrill of JLL represented the landlord, AFIAA U.S. Investment Inc. The space, which is the company’s first in Austin, will officially open during the third quarter of 2019. Spaces is a brand owned by Regus PLC, a Luxembourg-based coworking office operator with more than 3,000 business centers in 120 countries.

October 19, 2018

Acquisitions Industrial Texas

Marcus & Millichap Arranges Sale of 50,708 SF Industrial/Flex Building in Dallas

by Taylor Williams October 19, 2018

DALLAS — Marcus & Millichap has arranged the sale of a 50,708-square-foot industrial/flex property located at 13335 Floyd Circle in Dallas. Cody Payne and Wayne Bares of Marcus & Millichap represented the seller, a private investor, in the transaction. Payne procured the buyer, also a private investor. The property, which drew more than 15 offers and sold at list price, was 100 percent leased at the time of sale.

October 19, 2018

Market Reports Multifamily Texas Texas Market Reports

Multifamily Roundup: High-Growth Austin vs. Steady San Antonio

by Taylor Williams October 19, 2018

Despite being located 80 miles apart, the Austin and San Antonio metros might as well be on different planets when comparing growth and multifamily operations during the current business cycle. While both multifamily markets have been in growth mode since the Great Recession, Austin has outpaced San Antonio with a rapid rate of expansion during this time. Austin’s job growth has risen steadily at an average annual pace near 4 percent since 2010. In addition, strong migration to the metro has contributed to the 20,000-plus households that have been created annually during this span. In comparison, San Antonio’s total employment has risen by an average of 2.7 percent annually for the past eight years, though the rate has dipped below 2 percent over the past four quarters. The pace of migration remains healthy, but the rate of household formation has been slower in the Alamo City. These differences in job growth, migration and household formation have impacted each metro’s apartment market differently. Development Disparities Developers have targeted Austin over the past few years, and the market has received significant supply additions. The metro has consistently ranked in the top 10 markets across the country for new deliveries over the past …

October 19, 2018

Company News District of Columbia Midwest Minnesota Northeast Office Southeast Texas Western

SIOR Foundation Selects Aaron Barnard as New President

by Amy Works October 18, 2018

WASHINGTON, D.C. — SIOR Foundation has announced Aaron Barnard as its new president for the 2018-2019 term. The transition from current president Bill Ginder to Barnard occurred last week at the Society of Industrial & Office Realtors (SIOR) Fall World Conference in Denver. Barnard is a veteran broker in Minneapolis with Cushman & Wakefield and specializes in investment analysis, tenant and landlord representation. Additional 2018-2019 SIOR Foundation officers are President-Elect Chris Curtis (Nugent Curtis Real Estate), Vice President Albert McNeel (Endura Advisory Group) and Treasurer Stan Kleweno (Transpacific Investments). New SIOR Foundation Trustees who began three-year terms at the latest conference include Nancy Morse (Newmark Knight Frank), Jack O’Donoghue (Grant Street Associates/Cushman & Wakefield Alliance), Adrian Arriaga (AAA Real Estate & Investments), Robert Horn Jr. (JLL), Jesse Laikin (Lee & Associates) and Peter Richardson (Primera Cos.). As the largest association of commercial real estate brokers, Washington, D.C.-based SIOR Foundation promotes and funds programs that advance the real estate profession through educational scholarships, research projects, publishing and development of real estate curricula for higher education.

October 18, 2018

Development Industrial Texas

Crow Holdings to Develop 530,000 SF Industrial Facility in North Houston

by Taylor Williams October 18, 2018

HOUSTON — Dallas-based Crow Holdings Industrial has purchased 45 acres in north Houston for the development of Layne Crossing, a 530,000-square-foot industrial project that will encompass six buildings ranging in size from 56,400 to 174,000 square feet. Building features will include 24- to 32-foot clear heights, large truck courts and ample trailer storage. The groundbreaking of Layne Crossing is scheduled for January and delivery is slated for the fourth quarter of 2019. Richard Quarles and Bubba Harkins of JLL represented the seller of the land, Dallas-based Sarofim Realty Advisors. Cory Driskill and Travis Covington represented Crow Holdings Industrial internally.

October 18, 2018

Acquisitions Industrial Self-Storage Texas

Strategic Storage Trust Acquires Self-Storage Portfolio Totaling 3,600 Units in Houston Area

by Taylor Williams October 18, 2018

HOUSTON — Strategic Storage Trust IV, a self-storage REIT sponsored by SmartStop Asset Management LLC, has acquired a portfolio of six properties totaling approximately 3,600 units and recreation vehicle spaces in the greater Houston area. The properties were built between 2002 and 2007 and offer a total of roughly 483,000 net rentable square feet. Nick Walker, John Fenoglio and Trevor Roberts of CBRE represented the seller, Metro Mini Storage, in the transaction.

October 18, 2018

Development Office Texas

AQUILA Nears Completion of 225,000 SF Spec Office Building in Austin

by Taylor Williams October 18, 2018

AUSTIN, TEXAS — AQUILA Commercial is nearing completion of The Preserve at 620, a 225,000-square-foot speculative office building located at 8201 North FM 620 in northwest Austin. The single-story building is slated to be complete before year’s end and has roughly 185,000 square feet still available for lease. Amenities at The Preserve at 620 include a fitness center, sports court and open courtyard spaces. Tech firm Innovative Aftermarket Systems (IAS) has preleased 40,000 square feet at the property.

October 18, 2018

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