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The-Oak-at-Katy-Park
DevelopmentMultifamilyTexas

Wayfinder, Read King Break Ground on 348-Unit Multifamily Project in Metro Houston

by Taylor Williams

KATY, TEXAS — A partnership between two developers, Austin-based Wayfinder Real Estate and Houston-based Read King Commercial Real Estate, has broken ground on The Oak at Katy Park, a 348-unit multifamily project in the western Houston suburb of Katy. The site is located within the 54-acre Market at Katy Park master-planned development. Units will come in one-, two- and three-bedroom floor plans, and amenities will include a pool, fitness center, coworking space, pickleball court and outdoor grilling and dining stations. Meeks Architects is designing the project, and OHT Construction is serving as the general contractor. Completion is slated for early 2025.

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AcquisitionsIndustrialTexas

Versal Negotiates Sale of 240-Unit Self-Storage Facility in Kyle, Texas

by Taylor Williams

KYLE, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of Highway 21 Storage, a 240-unit facility located roughly 25 miles south of downtown Austin in Kyle. The facility was built in 2021 and 2022 and totals 68,775 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the private, Texas-based seller in the transaction. The team also procured the buyer, New York-based Andover Properties, which will operate the facility under its Storage King USA brand.

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AcquisitionsIndustrialTexas

Quilvest, Axis Industrial Outdoor Storage Acquire 18.6-Acre Site in San Antonio

by Taylor Williams

SAN ANTONIO — A joint venture between global private investment firm Quilvest Capital Partners and Atlanta-based Axis Industrial Outdoor Storage (IOS) has acquired an 18.6-acre site in San Antonio. The site at 9415 NE Loop 410 is located in the city’s Eastgate neighborhood and houses the operations of Anderson Machinery Co. The seller and sales price were not disclosed. The deal is the first of the joint venture’s larger initiative to acquire and operate an approximately $500 million portfolio of IOS properties across the country.

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LoansRetailTexas

MMCC Arranges $8.6M Acquisition Loan for Fort Worth Shopping Center

by Taylor Williams

FORT WORTH, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.6 million acquisition loan for Renaissance Square, a shopping center in Fort Worth that totals 105,065 square feet, according to LoopNet Inc. The center was built in 2013 and was fully leased at the time of the loan closing to tenants such as Marshall’s, Ross Dress for Less and Dollar Tree. The borrower and direct lender were not disclosed. The loan carried an interest rate of 6.75 percent and a 30-year amortization schedule. Marcus & Millichap also represented the undisclosed seller in the disposition of the property.

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IndustrialLeasing ActivityTexas

C&T Design & Equipment Signs 19,886 SF Industrial Lease in Northwest Houston

by Taylor Williams

HOUSTON — C&T Design & Equipment, which designs and furnishes restaurants and commercial kitchens, has signed a 19,886-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the building at 9555 Baythorne Drive was constructed in 2001 and totals 28,576 square feet. Jim Cooper of Cypressbrook Co. represented the tenant in the lease negotiations. The landlord was an entity doing business as Texas KBC LLC.

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Constellation-Commerce-360-Grand-Prairie
DevelopmentIndustrialTexas

Constellation, Northwestern Mutual to Develop 200,493 SF Industrial Project in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — A partnership between Constellation Real Estate Partners and Northwestern Mutual has acquired 10 acres in Grand Prairie, located roughly midway between Dallas and Fort Worth, for the development of a 200,439-square-foot industrial project. Designed by Pross Design Group, Constellation Commerce 360 will comprise two buildings totaling 95,760 and 104,733 square feet. Building features will include 32-foot clear heights, ESFR sprinkler systems, LED lighting and the capacity to accommodate a single or multiple users across both buildings. David Eseke and Clay Balch of Cushman & Wakefield represented Constellation Real Estate Partners in the acquisition of the land and have also been retained as leasing agents. Construction is scheduled to begin in the first quarter of next year and to last about 12 months.

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Westview-Heights-Denton
Affordable HousingDevelopmentLoansMultifamilyTexas

BWE Provides $14.4M HUD-Insured Construction Loan for Denton Affordable Housing Project

by Taylor Williams

DENTON, TEXAS — BWE, the commercial mortgage banking firm formerly known as Bellwether Enterprise Real Estate Capital, has provided a $14.4 million, HUD-insured construction loan for Westview Heights, a 132-unit affordable housing project in the North Texas city of Denton. Westview Heights will offer one-, two- and three-bedroom units across three buildings that be reserved for households earning between 30 and 60 percent of the area median income, with 22 units being rented at market rates. Amenities will include a pool, fitness center, business center, laundry facilities and outdoor grilling and dining stations. Jon Killough of BWE originated the loan, which is structured with a fixed interest rate and interest-only payments for the duration of construction, through HUD’s 221(d)(4) program. The borrower was Generation Housing Partners. The capital stack also includes Low-Income Housing Tax Credit (LIHTC) equity that was provided by the Texas Department of Housing & Community Affairs.

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AcquisitionsIndustrialSelf-StorageTexas

Versal Negotiates Sale of 113-Unit Self-Storage Facility in Rockport, Texas

by Taylor Williams

ROCKPORT, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of Paradise Self Storage, a 113-unit facility in Rockport, located outside of Corpus Christi in South Texas. The facility was built in 1994 and spans 23,800 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Iowa-based Elkhorn River Investments LLC, in the transaction. The team also procured the buyer, Corpus Christi-based Preis Investments Inc.

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IndustrialLeasing ActivityTexas

Newmark Secures 44,648 SF Industrial Lease in Metro Austin

by Taylor Williams

ROUND ROCK, TEXAS — Newmark has secured a 44,648-square-foot industrial lease at Green Hill Business Park in the northern Austin suburb of Round Rock. Richard Hoyt, Chip Wiser and Brian Cheek of Newmark represented the tenant, packaging and crating services provider TransPak Inc., in the lease negotiations. Stream Realty Partners represented the landlord, Mississippi-based EastGroup Properties.

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IndustrialLeasing ActivityTexas

Invacor Solutions Signs 33,525 SF Industrial Lease in Northwest Houston

by Taylor Williams

HOUSTON — Invacor Solutions, which provides pipeline services to the energy industry, has signed a 33,525-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the single-tenant property at 6230 Bingle Road was built in 1979 and features 20-foot clear heights, four loading docks, 34 parking spaces and 8,190 square feet of office space. Michael Keegan and Andrew Laycock of Partners Real Estate represented the landlord, ValvTechnologies Inc., in the lease negotiations. Sarah Teel with MSL Investments represented the tenant.

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