AUSTIN, TEXAS — The Jenkins Organization, a Houston-based developer and operator of self-storage facilities, will open ATX Storage, a 1,022-unit facility in Austin, on March 31. Construction of the property, which features 110,025 square feet of net rentable space, began in March 2017. The Jenkins Organization will also open another Austin facility, the 736-unit Lakeline Storage, on March 31. With these two facilities coming on line, the company now operates 45 properties across five states.
BEDFORD, TEXAS — A partnership between Transwestern Investment Group and S2 Capital LLC has acquired Oak Creek Apartments, a 464-unit multifamily community in Bedford, a northeastern suburb of Fort Worth. The Class B property was acquired on behalf of one of the funds managed by the partnership. The community consists of 61 buildings and was 92 percent occupied at the time of sale. Taylor Snoddy, Philip Wiegand and James Roberts of Transwestern represented the undisclosed seller in the transaction.
RICHARDSON, TEXAS — A subsidiary of Hartman Income REIT Management Inc. has acquired Richardson Tech Center, a 96,660-square-foot flex property in Richardson, a northeastern suburb of Dallas. The multi-tenant property consists of four buildings. Zane Marcell and Dustin Volz of JLL represented the undisclosed seller in the transaction. David Wheeler and Russell Turman represented Hartman internally. HFF arranged acquisition financing for the deal through Southside Bank.
DALLAS — Dallas-based brokerage firm Henry S. Miller (HSM) has secured a 39,646-square-foot industrial lease in Dallas for ABC Supply Co. Inc., a wholesale distributor of roofing and siding products. Dan Spika of HSM represented ABC Supply in the lease negotiations for the warehouse space at 4884 Duncanville Road. Matt Elliott of NAI Robert Lynn represented the landlord, Texas Industrial Development LLC. The property features 1,380 square feet of office space, seven dock-high doors and access to Interstate 20 and U.S. Highway 67.
GRAPEVINE, TEXAS — Colliers International has negotiated a 21,816-square-foot office lease expansion at 2200 W. Airfield Drive in the Dallas metro of Grapevine on behalf of software firm DexYP. The company now occupies 449,040 square feet at the property, which was built in 1979 and features a fitness center, café and auditorium. Bob Acuff and Tom Sutherland of Colliers represented DexYP in the lease negotiations. D.J. Decker of CBRE represented the landlord, Verizon Realty Corp.
DENTON, TEXAS — RED Development has broken ground on three new multi-tenant retail buildings within Rayzor Ranch Town Center, a 600,000-square-foot mixed-use development in Denton. The buildings are partially preleased to Zoe’s Kitchen, Massage Envy and Sprint. Construction of a 40,000-square-foot building preleased to Rooms To Go is also underway at Rayzor Ranch, which will also welcome an eight-screen Alamo Drafthouse Cinema and a 7,500-square-foot Cheddar’s Scratch Kitchen this summer. A 41,000-square-foot Andy B’s gaming venue and restaurant is also under construction and slated to open in early 2019.
HOUSTON — NewQuest Properties has brokered the sale of Chateaux Dijon Apartments, a 426-unit multifamily community located at 5331 Beverly Hill St. in Houston’s Galleria neighborhood. The property consists of one-, two- and three-bedroom units ranging from 510 to 1,380 square feet. Amenities include several pools, a fitness center, coffee bar, dog park, conference room and a business center. Glenn Dickerson of NewQuest Properties represented the seller, FHB Beverly Hill LP, and procured the buyer, Florida-based investment firm Avesta Communities LLC. The property was developed in the 1960s and renovated in 2016.
ARLINGTON, TEXAS — NAPA Ventures has sold Parkside Townhomes, a multifamily community in Arlington that features 144 rentable townhome units. The property, which is located within three miles of AT&T Stadium and Globe Life Park, offers two- and three-bedroom units and a pool. Prior to the sale, NAPA invested in capital improvements to the property’s landscaping, parking lots and exterior lighting, as well as the cabinets, countertops and floors of the units. The buyer was not disclosed.
GARLAND, TEXAS — Stream Realty Partners has arranged the sale of a 54,000-square-foot industrial building located at 2601 W. Kingsley Road in the Dallas metro of Garland. Kingsley Industrial LLC sold the property to Snell Motor Co. Inc. for an undisclosed price. Matt Dornak and Ryan Wolcott of Stream Realty Partners brokered the sale.
KINGWOOD, TEXAS — NAI Partners has negotiated an office lease at One Kingwood Place, a 200,000-square-foot office campus located in the northern Houston suburb of Kingwood. Oil and gas firm Valence Operating Co will occupy 12,000 square feet at the campus. Jacob Aldridge, Zach Leger and Rani Jones of NAI Partners represented the landlord in the lease negotiations. Kyle Whitney and Victor Valenzuela of Transwestern represented Valence Operating Co.
