Texas

Davis Breaks Ground on 400,400 SF Industrial Development in San Antonio

by Taylor Williams August 17, 2018

SAN ANTONIO — Houston-based Davis Commercial Development has broken ground on Logistics Commerce Center, a 400,400-square-foot industrial development that will be located within Cornerstone Industrial Park in San Antonio. The two-building, Class A property is being developed on a speculative basis. The groundbreaking was held on Thursday and delivery is slated for the first quarter of 2019. The two buildings, which will measure 260,000 and 140,400 square feet, will both feature 32-foot clear heights, ESFR sprinkler systems and ample trailer parking. Rob Burlingame and Josh Aguilar of CBRE represented Davis Commercial in the purchase of the land and will continue to market and lease the property.

August 17, 2018

Industrial Leasing Activity Texas

JLL Negotiates 210,850 SF Industrial Lease Renewal in Houston

by Taylor Williams August 17, 2018

HOUSTON — JLL has negotiated a 210,850-square-foot industrial lease renewal within Railwood Industrial Park in northeast Houston on behalf of Global Stainless Supply, a Houston-based provider of stainless steel pipes, flanges and fittings. The company’s Class A space features 28-foot clear heights, 24 dock-high doors and 8,000 square feet of office space. Ryan Fuselier and Jeff Venghaus of JLL represented the tenant in the lease negotiations. Kelly Landwermeyer of Holt Lunsford Commercial represented the landlord, CenterPoint Properties.

August 17, 2018

Acquisitions Office Texas

Stream Realty Partners Brokers Sale of 165,500 SF Office Building in San Antonio

by Taylor Williams August 17, 2018

SAN ANTONIO — Stream Realty Partners has brokered the sale of One Alamo Center, a 165,500-square-foot office building in downtown San Antonio. The eight-story building offers a conference center and concierge services. Jamie Jennings, James Mantzuranis and Andrew Rabinovich of Stream Realty Partners marketed the property on behalf of a private family office and procured the buyer, Los Angeles-based Entrada Partners. Market experts Ryan Harrison, Garrett Carlson and Kenneth Hartmann of Stream Realty Partners also contributed to the transaction.

August 17, 2018

Acquisitions Industrial Office Texas

NAI Partners Arranges Sale of 6,400 SF Flex Asset in Houston

by Taylor Williams August 17, 2018

HOUSTON — NAI Partners has arranged the sale of a 6,400-square-foot office/warehouse asset situated on 8.9 acres at 8412 Hansen Road in Houston. Clay Pritchett and Zane Carman of NAI Partners represented the seller, Wallis State Bank, which had previously foreclosed on the property. Greg Williams of Qualified Properties represented the buyer, TBarJ Properties LLC.

August 17, 2018

Industrial Market Reports Self-Storage Texas Texas Market Reports

Oversupply, Taxes Choke Self-Storage Growth

by Taylor Williams August 17, 2018

Self-storage properties have had a pretty good run in Texas over the last several years. Surging population growth has brought more material possessions into the state, boosting absorption of existing space. In addition, ample land for development has enabled builders to bring self-storage — a submarket-specific business — to new, underserved communities. The investment side of the business has flourished as well. A capital-rich environment has sustained a healthy pace of development and price escalation has kept cap rates low, incentivizing many owners to market their properties for sale. The building boom is still running hot. According to Tennessee-based research firm STR, as of June 2018, there were more than 300 self-storage facilities in the development pipeline in Texas. In the 12 months leading up to that point, 72 new facilities totaling almost 7 million square feet came on line. In addition, about 130 new properties are slated to open by June 2019, adding more than 9 million square feet, or 5.7 percent of the existing inventory. And those figures only encompass the seven biggest markets in Texas. According to The Houston Chronicle, the Dallas, Houston, Austin and San Antonio markets all feature about 8 square feet of storage space …

August 17, 2018

Development Retail Texas

RealtyLink, Oakridge Underway on 190,000 SF Retail Development in Terrell, Texas

by Taylor Williams August 16, 2018

TERRELL, TEXAS — A partnership between South Carolina-based RealtyLink and Dallas-based Oakridge Investments is underway on the construction of Crossroads at Terrell, a 190,000-square-foot retail development in Terrell, about 28 miles east of downtown Dallas. The property will be anchored by a 74,000-square-foot Film Alley Movie Entertainment Center that is scheduled to open in 2019. New tenants including Hobby Lobby, Ross Dress for Less, Five Below, Chick-fil-A and Rack Room Shoes are slated to open at the development in spring 2019. Andrew Lehner of CBRE is marketing the property on behalf of the developers.

August 16, 2018

Acquisitions Multifamily Texas

CBRE Negotiates Sale of 1,331-Unit Multifamily Portfolio in Houston

by Taylor Williams August 16, 2018

HOUSTON — CBRE has negotiated the sale of a portfolio of three multifamily communities totaling 1,331 units in Houston. The properties, which had an average overall occupancy of 91 percent at the time of sale, are Westchase Estates, Westchase Grand and Westchase Preserve. Matt Phillips and Clint Duncan of CBRE represented the seller, a partnership between Ascension Commercial Real Estate and Moriah Group, in the transaction. Michael Thompson of CBRE arranged acquisition financing for the deal on behalf of the buyer, The Valcap Group LLC.

August 16, 2018

Development Mixed-Use Texas

Stratus Properties to Develop 54-Acre Mixed-Use Project in Kingwood, Texas

by Taylor Williams August 16, 2018

KINGWOOD, TEXAS — Austin-based Stratus Properties Inc. will develop Kingwood Place, a 54-acre mixed-use project in Kingwood, a 14,000-acre master-planned community located northeast of Houston. The project, which will be anchored by a 103,000-square-foot H-E-B grocery store, will also feature 41,000 square feet of additional retail space and approximately 300 multifamily units. Construction is scheduled to begin in November.

August 16, 2018

Acquisitions Multifamily Texas

37th Parallel Acquires 224-Unit Apartment Community in San Antonio

by Taylor Williams August 16, 2018

SAN ANTONIO — 37th Parallel Properties, a Virginia-based multifamily investment firm, has acquired Summit of Thousand Oaks, a 224-unit multifamily community in San Antonio. Built in 1983, the property consists of 144 one-bedroom units and 80 two-bedroom apartments. Amenities include a pool and a fitness center. The new ownership will add new retaining walls and landscaping, as well as upgrade the leasing center and unit interiors. Cutt Ableson of Berkadia arranged a Freddie Mac green loan for the transaction, the seller in which was not disclosed.

August 16, 2018

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 184-Unit Apartment Property in Fort Worth

by Taylor Williams August 16, 2018

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Village Creek Townhomes, a 184-unit multifamily property in Fort Worth. The community was built in 1970 and rebuilt in 1994 to offer two-, three- and four-bedroom floor plans. Al Silva of Marcus & Millichap represented the seller, a Dallas-based private investment group, in the transaction. Silva also procured the buyer, a Texas-based partnership. Both parties requested anonymity.

August 16, 2018

Newer Posts

Older Posts