HOUSTON — The J. Beard Real Estate Co. has brokered the sale of three flex buildings totaling 13,850 square feet of office and warehouse space in Houston. Ryan Hutson of J. Beard represented the seller, Continuum Investments, in the transaction. Vicky Kuczbel-Rogers of Walzel Properties represented the buyer, G. Ramirez, which will also occupy the buildings.
SAN ANTONIO — Värde Partners, a Minneapolis-based global investment firm, has provided a $61.5 million loan for Brass Professional Center, a 15-building, 729,000-square-foot office park in San Antonio. The undisclosed borrower will use the loan to finance existing debt and provide capital for recapitalizing the property or marketing it for sale over the next few years. Bryan Leonard of NorthMarq Capital arranged the loan.
HUTCHINS, TEXAS — VMInnovations, an online retailer of brand-name sports products, electronics and home goods, has signed an industrial lease in Hutchins, a southern suburb of Dallas. The company will occupy 416,891 square feet at Core5 Logistics Center at Wintergreen, a 43-acre development. Mark Collins and Adam Campbell of Cushman & Wakefield represented VMInnovations in the lease negotiations. Matt Elliot of NAI Robert Lynn represented the landlord, Atlanta-based Core5 Industrial Partners.
RICHLAND HILLS, TEXAS — Karr Self-Storage, a division of Marcus & Millichap, has arranged the sale of Boulevard 26 Storage, a 305-unit facility located in Richland Hills, a northeastern suburb of Fort Worth. The property, which was built in 1950 and repurposed into a self-storage facility in 2007, features a nine-space, 8,500-square-foot retail center that was also included in the sale. Brandon Karr and Danny Cunningham of Karr Self-Storage represented the seller, an Austin-based private partnership, in the transaction. The team also secured the buyer, a Philadelphia-based self-storage owner/operator.
FRIENDSWOOD, TEXAS — Tannos Land Holdings III, an affiliate of Tannos Construction & Development LLC, has broken ground on a $10 million mixed-use building in Friendswood, a southeastern suburb of Houston. The four-story building will total 63,400 square feet of retail, restaurant and office space. The project is expected to be complete by early 2019.
HOUSTON — GBP Properties, a Monterrey, Mexico-based investment firm, has acquired a 30,000-square-foot industrial building located at 11150 Equity Drive in northwest Houston. GE Oil & Gas has occupied the space for the last five years. Tom Lynch and Mark Redlingshafer of CBRE represented the seller, Houston-based Investment & Development Ventures LLC, in the transaction.
Baylor Scott & White, Dallas Cowboys to Open 300,000 SF Sports Research Center at The Star in Frisco
FRISCO, TEXAS — Baylor Scott & White and the Dallas Cowboys will open their new 300,000-square-foot sports research facility at The Star in Frisco this Wednesday. Services that will be offered at the Baylor Scott & White Sports Therapy & Research at The Star include sports performance testing, a concussion center, imaging center, surgery suites, urgent care center, research space, outpatient rehabilitation and a pharmacy. Dallas-based Baylor Scott & White and the Cowboys are holding an official opening at the complex’s turf outdoor football field with the Frisco Independent School District, which is a partner in the new sports research and treatment complex.The facility was designed by the Dallas office of global architecture and design firm Perkins+Will. The Star is a 91-acre sports and entertainment district and serves as the world headquarters of the Cowboys.
DALLAS — Hunt Mortgage Group has provided a $12 million Fannie Mae loan for the refinancing of Cornerstone Apartments, a 240-unit affordable housing community in Dallas. Situated at 2606 Community Drive and 9709 and 9720 Starlight Road, Cornerstone was built in three phases between 1968 and 1976. Two of the phases were redeveloped in 1992 and 1995 through the Low-Income Housing Tax Credit program. The third phase comprises 38 market-rate apartment units without affordability restrictions. Community amenities include an on-site management/leasing office, four laundry rooms, a swimming pool and playground. Dallas-based Churchill Capital arranged the 12-year loan with a 30-year amortization schedule on behalf of the borrower, JAG CA Re-Development LLC, an entity backed by James E. Graham Jr. The company has invested $2 million in capital improvements to Cornerstone Apartments since taking over ownership, bringing the occupancy up from 70 percent to above 90 percent as of loan closing, according to Churchill Capital.
DALLAS — SHOP Cos. has arranged the sale of Haverwood Village, a 28,000-square-foot shopping center located along the Dallas North Tollway at 4809 Cole Ave. in Dallas. The property was 93.6 percent leased at the time of sale to tenants including Skillman Wok, Afrika Fusion, The Fade Shop, I-Apartments and Tsitsi’s African Styles. Tommy Tucker, Tim Axilrod and Cameron Burk of SHOP Cos. represented the seller, a limited liability company based in Dallas. The buyer and sales price were not disclosed.
THE WOODLANDS, TEXAS — Bellomy & Co. has arranged the sale of Affordable Self Storage The Woodlands, a 465-unit self-storage facility located on nearly five acres in The Woodlands. The Class A facility spans 90,800 rentable square feet across five buildings. The property includes climate-controlled and non-climate-controlled units and fully enclosed spaces for RVs and boats. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, an undisclosed company based in The Woodlands. Bellomy and Johnson also procured the Houston-based buyer.