HOUSTON — Transwestern Development Co. has begun leasing The Hayworth, a 246-unit multifamily property located at 1414 Wood Hollow Drive in Houston’s Tanglewood neighborhood. Units range from 934-square-foot one-bedroom apartments to 2,324-square-foot three-bedroom residences. In addition, 10 townhomes starting at 1,986 square feet will become available in 2018. Amenities include a two-acre private park, yoga lawn, pool and dog park.
SEABROOK, TEXAS — CBRE’s Capital Markets group has brokered the sale of Edgelake Apartments, a 216-unit multifamily asset located at 3010 E. NASA Parkway in Seabrook, about 35 miles southeast of Houston. Built in 1982, the property offers one- and two-bedroom units averaging 742 square feet per unit, as well as a pool and fitness center. Clint Duncan and Matt Phillips of CBRE represented the seller, Omaha-based SEC Edgelake LLC, in the transaction. 3000 NASA Parkway purchased the property, which was 95 percent occupied at the time of sale, for an undisclosed price.
GALVESTON, TEXAS — BMC Capital has arranged a $13.7 million loan for the acquisition of a 238-unit multifamily property in the Texas Gulf Coast city of Galveston. The five-year loan features a 5 percent fixed interest rate and a 30-year amortization schedule. Keith Van Arsdale of BMC Capital arranged the loan through an undisclosed bank. The name of the property and borrower were also withheld.
FORT WORTH, TEXAS — T5 Data Centers, a data center owner and operator with facilities across the country, will co-develop a 324-acre data center campus in Fort Worth. Hillwood and IPI Data Centers Partners Management LLC, a San Francisco-based data center investment platform, will co-develop the campus, which will be situated within the 18,000-acre AllianceTexas community. At full build-out, the development will be capable of delivering 400-plus megawatts of power. A timetable for construction has not yet been established.
DALLAS — CBRE has brokered the sale of Hillcrest Tower, a 168,189-square-foot office property located at the intersection of the LBJ Freeway and Hillcrest Road in North Dallas. The property, which was more than 90 percent leased at the time of sale, offers amenities such as a full-service deli, conference room and tenant suites with private balconies. Eric Mackey, Gary Carr, John Alvarado, Evan Stone, Jared Chua and Robert Hill of CBRE represented the undisclosed seller in the transaction. Boston-based Albany Road Real Estate Partners purchased the asset for an undisclosed price.
ALLEN, TEXAS — Accesso Partners LLC, a South Florida-based real estate investment manager, has acquired One Allen Center, a 150,506-square-foot, Class A office building located in the Dallas metro of Allen. Situated on 7.2 acres at 700 Central Expressway S., adjacent to the 700,000-square-foot Watters Creek mixed-use development, the property was 90 percent leased at the time of sale. The new ownership will upgrade all common areas and create move-in-ready suites on a speculative basis. The seller and sales price were not disclosed.
FORT WORTH, TEXAS — The Carlyle Group, a Washington, D.C.-based asset management firm, will open Crockett Street Food Hall, a 16,000-square-foot venue that will be situated within Crockett Row at West 7th, a mixed-use property in Fort Worth. Located at the corner of Crockett and Norwood streets, the venue will offer 100- to 1,000-square-foot spaces to fast-casual food vendors. Fourteen eateries are currently slated to operate within the food hall, which will feature a full bar, patio seating and music in the evenings.
HOUSTON — NAI Partners has negotiated a 51,824-square-foot industrial lease at 16390 Park Row Drive in west Houston. Built in 1978, the single-tenant warehouse features 28-foot clear heights, three dock-high loading doors and a parking ratio of 0.57 spaces per 1,000 square feet. Darren O’Conor and Jake Wilkinson of NAI Partners represented the landlord, FMFV Warehousing Inc., in the lease negotiations. The tenant was not disclosed.
KATY, TEXAS — Atlanta-based Oakmont Industrial Group will develop a 673,785-square-foot warehouse within the master-planned West Ten Business Park in the Houston metro of Katy. Situated on a 42-acre parcel, the property is being developed on a speculative basis and will feature 36-foot clear heights, cross-dock loading, 56-foot wide column spacing, an ESFR sprinkler system and LED warehouse lighting. The property will also offer parking for 691 automobiles and 256 trailers, as well as quick access to the Grand Parkway/State Highway 99 interchange. Construction is scheduled for a July 2018 completion. John Simons and Holden Rushing of NAI Partners brokered the land sale and will represent Oakmont in leasing the property.
DALLAS AND FORT WORTH, TEXAS — Marcus & Millichap has brokered the sales of four multifamily properties totaling 573 units located throughout the Dallas-Fort Worth (DFW) area. The combined sales price was approximately $36.7 million. The properties include the 156-unit Castlewinds Apartments in the North Richland Hills submarket of Fort Worth; the 69-unit El Ranchito Apartments in western Fort Worth; the 188-unit Knollwood Apartments in Irving; and the 160-unit Holly Park Apartments in east Dallas. Al Silva, Ford Braly and Mark McCoy of Marcus & Millichap represented the private sellers and procured the buyers for all four transactions.
