GARLAND, TEXAS — Marcus & Millichap has brokered the sale of COL-MET, a 112,102-square-foot industrial asset located at 3333 Miller Park S. in Garland, a northeastern suburb of Dallas. The property was built in 1997. Adam Abushagur of Marcus & Millichap represented the seller and procured the buyer in the transaction, both of which were private investors and requested anonymity.
FORT WORTH, TEXAS — Ascend Partners LLC and Civitas Senior Living have broken ground on The Grandview of Chisholm Trail, a 70,000-square-foot seniors housing property in Fort Worth. The community will consist of 67 assisted living units and 16 memory care apartments. Amenities will include a fitness center, salon, theater, dog park, coffee bar and a library/business center. The opening is slated for November 2019.
HOUSTON — NAI Partners has arranged a 35,000-square-foot industrial lease at 12014 FM 529 in Houston for TexTrail Inc., a provider of parts and services for the trailer industry. Jake Wilkinson of NAI Partners represented the tenant in the transaction. The name and representative of the landlord were not disclosed.
FORT WORTH, TEXAS — HFF has negotiated the sale of 35|820 @ Mercantile Center, a 657,043-square-foot industrial building in Fort Worth. The newly built, Class A property features 36-foot clear heights, 152 overhead dock doors, four drive-in doors and quick access to Interstates 35 and 820. Jody Thornton, Adam Herrin and Stephen Bailey of HFF represented the seller, Hunt Southwest, in the transaction. The buyer was Pure Industrial Real Estate Trust (PIRET), a Canadian REIT owned by The Blackstone Group.
KINGWOOD, TEXAS — Dallas-based multifamily developer SWBC Real Estate has broken ground on The Royalton at Kingwood, a 331-unit multifamily community in Kingwood, a master-planned community northeast of Houston. Situated on 15.9 acres, the Class A property will offer one-, two- and three-bedroom units. Amenities will include a pool, fitness center, game room with community kitchen, a resident lounge and a dog park. Jordan Foster is the general contractor, Cross Architects is the architect and Stantec is the engineer for the project. The opening is currently scheduled for October 2019.
DALLAS — A partnership between private equity fund manager Citymark Capital and Dallas-based CAF Capital Partners has purchased Spring Parc, a 304-unit apartment community in Dallas. The property is located on the city’s north side and offers amenities such as two pools, a Wi-Fi café and a dog park. The new ownership, which also recently acquired a 323-unit apartment community in nearby Lewisville, will upgrade the property’s common areas and unit interiors.
MCALLEN AND PHARR, TEXAS — California-based investment firm Cardinal Industrial has acquired a two-property portfolio of industrial assets totaling 463,708 square feet in the Rio Grande Valley. One of the properties is located in McAllen and the other is located in Pharr. The sale includes 25.7 acres of land near the United States-Mexico border. Dustin Volz, Zane Marcell and Grant Matthews of JLL represented Cardinal Industrial in the transaction. John Opinsky of Frampton & Opinsky LLC represented the undisclosed seller.
AUSTIN, TEXAS — The Jenkins Organization, a Houston-based developer and operator of self-storage properties, has opened Manchaca Storage, a 795-unit facility in Austin. The official opening of the 93,225-square-foot property was held on Sept. 10. Manchaca Storage, which offers both climate- and non-climate-controlled space, will primarily serve the south Austin area.
HUMBLE, TEXAS — A partnership between Atlanta-based Ridgeline Property Group and Texas-based Archway Properties will develop Park Air 59, a 685,400-square-foot industrial project in Humble, a northeastern suburb of Houston. The cross-dock property will feature 40-foot clear heights, 153 dock-high doors, 180-foot truck court depths, 242 trailer parking spaces, 332 auto parking spaces and an ESFR sprinkler system. The groundbreaking of Park Air 59, which offers convenient access to Beltway 8, is scheduled for late September. Completion is slated for the second quarter of 2019.
ARLINGTON, TEXAS — Adolfson & Peterson Construction has begun work on an $84 million arts and athletics facility for the Arlington Independent School District (ISD). Designed by HKS, the property will be situated on more than 21 acres and serve the entire school district. Individual features will include a 97,963-square-foot performance and demonstration venue, a 1,250-seat concert hall and a 425-seat theater. The 97,548-square-foot athletic complex will offer facilities for swimming, basketball, wrestling, volleyball and gymnastics. The complex is expected to open in fall 2020.