Texas

LaSalle Acquires 510,000 SF Medical Office Building in Houston

by Taylor Williams July 24, 2018

HOUSTON — Chicago-based LaSalle Investment Management has acquired Memorial Hermann Medical Plaza, a 510,000-square-foot medical office property in Houston. The 28-story building is located within the Texas Medical Center on the city’s south side. The property, which features retail amenities and a 13-level parking garage, was 99 percent leased at the time of sale. Scott Galloway, Colby Mueck and Rusty Tamlyn of HFF represented the seller, a partnership between Mischer Healthcare, Memorial Hermann Health System and other private investors, in the transaction.

July 24, 2018

Aspire-at-Preston-Trails-Cedar-Hill-Texas

Development Loans Multifamily Texas

Mason Joseph Arranges $42.5M HUD Loan to Build New Apartment Community in Metro Dallas

by Taylor Williams July 24, 2018

CEDAR HILL, TEXAS — San Antonio-based Mason Joseph Co. Inc. has arranged a $42.5 million construction and permanent financing loan for Aspire at Preston Trails, an apartment community that will be located in the Dallas metro of Cedar Hill. The property will feature 299 market-rate units across nine garden-style buildings. Mason Joseph placed the loan, which features a fixed interest rate for the 22-month construction period and subsequent 40-year term, through HUD’s 221(d)(4) program, on behalf of the developers, Covenant Development LLC and Stewart Residential LLC. Humphreys & Partners is serving as architect for the project and Jordan Foster Construction is serving as general contractor. The property broke ground in early July.

July 24, 2018

Acquisitions Industrial Self-Storage Texas

Bellomy Brokers Sale of 246-Unit Self-Storage Facility in Houston

by Taylor Williams July 24, 2018

HOUSTON — Bellomy & Co. has brokered the sale of Alief Westwood Storage, a 246-unit self-storage facility located about 16 miles southwest of downtown Houston. Situated on 5.3 acres with room for expansion, the property features more than 64,000 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a Houston-based family partnership, in the transaction. The duo also procured the undisclosed, Austin-based buyer.

July 24, 2018

Acquisitions Industrial Texas

Finial Group Negotiates Sale of 52,682 SF Manufacturing Facility in Houston

by Taylor Williams July 24, 2018

HOUSTON — Full-service commercial real estate firm Finial Group has negotiated the sale of a 52,682-square-foot manufacturing facility located at 6410 Langfield Road in northwest Houston. The Class A facility is crane-served and includes 10,000 square feet of office space. Keith Bilski and Dylan Schopper of Finial Group represented the seller, Buks Global Enterprises, which occupies the space, in the transaction. Ron Roberson of Caldwell Cos. represented the buyer, S&R Realty Group LLC.

July 24, 2018

Development Mixed-Use Texas

Wolff Cos. Unveils Plans for 251-Acre Mixed-Use Project in Greater Houston

by Taylor Williams July 23, 2018

WALLER, TEXAS — Wolff Cos. has unveiled plans for a 251-acre mixed-use project along U.S. Highway 290 in Waller, a northwestern suburb of Houston. Wolff will develop the infrastructure around the site and has developed a preliminary land plan. The Houston-based company calculates that this plan has the capacity for 1.3 million square feet of industrial space, 800,000 square feet of office space and 172,000 square feet of retail space. The project is part of a larger development that will bring more than 1,000 single-family homes to the site. A timeline for construction of the commercial components has not yet been established.

July 23, 2018

Acquisitions Office Texas

Zerby Acquires 105,026 SF Office Tower in Oklahoma City

by Taylor Williams July 23, 2018

OKLAHOMA CITY — Oklahoma City-based investment firm Zerby Partners has acquired Lake Park Tower, a 105,026-square-foot office building in Oklahoma City, for $2.5 million. Amy Dunn, Brent Conway, Jim Austin, Tom Lange and Clay Harris of CBRE represented the seller, Lake Park Tower Cotter LLC, in the transaction. Lake Park Tower, a Class B property, was built in 1983.

July 23, 2018

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 123-Unit Apartment Property in Houston

by Taylor Williams July 23, 2018

HOUSTON — Marcus & Millichap has arranged the sale of Jacinto Palms, a 123-unit apartment property in Houston. The property features a pool and a playground. Jeffrey Fript, Christian Mazzini and Ryan Armstrong of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Fript and Armstrong also procured the buyer, another limited liability company.

July 23, 2018

Acquisitions Industrial Texas

NAI Partners Brokers Sale of 15,000 SF Industrial Asset in Houston

by Taylor Williams July 23, 2018

HOUSTON — NAI Partners has brokered the sale of a 15,000-square-foot industrial asset located at 929 E. Airtex Drive in Houston. Jake Wilkinson of NAI Partners represented the buyer, Brennan Industries Inc., a manufacturer of hydraulic and pneumatic fittings and adapters. The seller was not disclosed.

July 23, 2018

Underwood-Port-Logistics-Center-Pasadena-Texas

Development Industrial Texas

Arch-Con Breaks Ground on 404,160 SF Distribution Center in Pasadena, Texas

by Taylor Williams July 20, 2018

PASADENA, TEXAS — Arch-Con Corp, a general contractor with offices in Houston and Dallas, has broken ground on Underwood Port Logistics Center, a 404,160-square-foot industrial asset near Port Houston in Pasadena. Developed by Triten Real Estate Partners and Carlyle Group, the property will feature 36-foot clear heights, clerestory windows, full dock packages at the overhead doors and proximity to both the Bayport and Barbours Cut Terminals.

July 20, 2018

Acquisitions Multifamily Texas

Transwestern Arranges Sale of 332-Unit Apartment Community in Dallas

by Taylor Williams July 20, 2018

DALLAS — Transwestern has arranged the sale of Highland Road Village, a 332-unit multifamily community located at 2704 S. Cockrell Hill Road in southwest Dallas. Built in 1965 and renovated in 2000, the property features one-, two- and three-bedroom units ranging in size from 418 to 1,222 square feet. Amenities include a soccer field, playground and access to nearby jogging trails. Taylor Snoddy, Philip Wiegand and James Roberts of Transwestern arranged the transaction on behalf of the seller, New York-based Code Capital Partners. The buyer was not disclosed.

July 20, 2018

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