BARTLESVILLE, OKLA. — GBT Realty Corp. has completed Silver Lake Village, a $20 million, 85,000-square-foot retail center in Bartlesville, about 45 miles north of Tulsa. The shopping center is currently leased to tenants such as Ulta Beauty, Ross Dress for Less, T.J. Maxx and Rack Room Shoes. Approximately 5,500 square feet of space and three once-acre outparcels of space are currently available for lease.
SAN ANTONIO — JLL has brokered the sale of The Parker Apartment Homes, a 202-unit multifamily property located at 6600 Fairdale Drive in San Antonio. Amenities include a pool, dog park, business center and on-site laundry services. Scott LaMontagne, Moses Siller and Zar Haro of JLL represented the seller, Forge Partners, in the transaction. An Austin-based private investor purchased the asset for an undisclosed price.
South Texas is in the midst of a growth spurt in the commercial real estate industry. Within the area’s retail sector, demand for freestanding emergency rooms and cold storage facilities is growing rapidly. Though atypical, requests for such spaces are becoming increasingly common in the Rio Grande Valley (RGV). An estimated 1.3 million people call the RGV home. Both Hidalgo and Cameron counties are equipped with multiple hospitals to meet the healthcare needs of residents. There are three freestanding emergency rooms in Hidalgo County and two in Cameron County, with several more currently in the pipeline. Three of the larger healthcare providers within the RGV — Doctor’s Hospital at Renaissance in Edinburg (the largest hospital in the area), South Texas Health System, which has five hospitals in cities McAllen and Edinburg and HCA Hospital in McAllen — all have plenty of emergency rooms to cover the cities they serve. Between Harlingen and Brownsville, both the longstanding Valley Baptist Health System and the newer Harlingen Medical Center have plenty of emergency rooms to handle residents’ healthcare needs. Despite having this many established players in the market, new operators of healthcare real estate like Neighbors Health System, which owns and operates Neighbors …
SAN ANTONIO — Drever Capital Management, a Calif.-based holding company, will develop Larkspur at Live Oak, a 213-unit senior living community situated on 15 acres near Interstate 35 and Loop 1604 in San Antonio. Designed by Dallas-based Merriman Anderson/Architects Inc., the four-story property will offer units ranging in size from 691 to 1,221 square feet and an outdoor recreation space with a pool, kitchen and cabanas. A 64-unit memory care community is also being planned as a separate facility within the development. Construction is scheduled to begin later this year and wrap up in early 2019.
AUSTIN, TEXAS — HFF has arranged the sale of a two dual-branded hotel property located at 805 Neches St. and 810 Red River St. in Austin. The asset consists of the 134-room Hotel Indigo Austin Downtown and the 171-room Holiday Inn Express Austin Downtown University. Completed in 2016, the hotels share amenities such as an outdoor pool, bar and lounge and five levels of underground parking. John Bourret and Austin Brooks of HFF represented the seller, Journeyman Group, in the transaction. Nimes Real Estate purchased the property for an undisclosed price.
DALLAS — Warstic, a producer of baseball equipment partially owned by musician Jack White, will open its flagship location, manufacturing facility and headquarters at 2900 Main St. in the Deep Ellum area of Dallas. The property will include a warehouse, bat-fitting room, bat design studio, bar and restaurant and a full batting cage. The opening is scheduled for early 2018.
ARLINGTON, TEXAS — Lee & Associates has negotiated the sale of a 56,841-square-foot industrial property located at 1721 Susan Drive in Arlington. Mark Graybill and Colton Rhodes of Lee & Associates represented the seller, Package Express, in the transaction. Sean O’Grady of Caliber Property Group represented the buyer, CDI-RE Arlington.
HOUSTON — Marcus & Millichap has brokered the sale of Shotwell Shopping Center, a 32,390-square-foot retail center located at 5900 Lyons Ave. in Houston. Derek Hargrove, Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, a Houston-based partnership, in the transaction. Gus Lagos and Nik Kapetanakis, also of Marcus & Millichap, procured the undisclosed buyer.
FORT WORTH AND AUSTIN, TEXAS — Irvine, Calif.-based investment firm IRA Capital LLC has sold a portfolio of fully leased medical office properties totaling 137,686 square feet in Fort Worth and Austin. The portfolio includes The Center for Cancer & Blood Disorders and Baylor Health Center at Magnolia Greens, both in Fort Worth, and Cedar Park Medical Center in Austin. HFF represented IRA Capital in the transaction and procured the buyer, a publicly traded healthcare REIT.
NORTHLAKE, TEXAS — JLL has negotiated a 349,425-square-foot industrial lease at Northport 35 Business Center, a Class A industrial park located at 4250 Dale Earnhardt Way in the Fort Worth metro of Northlake. Elizabeth Jones of JLL represented the tenant, Allen Distribution, a food and beverage services firm. Cannon Green, Bob Hagewood and Forrest Cook of Stream Realty Partners represented the landlord, New York-based Clarion Partners.
