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AcquisitionsMultifamilyTexas

IPA Brokers Sale of 211-Unit Apartment Complex in Mansfield, Texas

by Taylor Williams

MANSFIELD, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Audrey, a 211-unit apartment complex in Mansfield, a southern suburb of Fort Worth. Built in 2021, the property offers one- and two-bedroom units with an average size of 923 square feet. Amenities include a pool, fitness center, business center, clubhouse and outdoor grilling and dining stations. Joey Tumminello, Taylor Hill, Michael Ware, Jeff Kindorf and Will Balthrope of IPA represented the seller, a partnership between Carleton Cos. and M.R. Development, in the transaction. The team also procured the buyer, a partnership between RPM and a fund managed by Roseview Investment Advisors.

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DevelopmentLeasing ActivityRetailTexas

Levcor Completes Renovations at Post Oak Plaza in Houston, Adds Three New Retailers

by Taylor Williams

HOUSTON — Locally based developer Levcor has completed renovations at Post Oak Plaza, a retail power center in Houston’s Uptown neighborhood. Capital improvements included updates to building and store facades, new lighting, upgraded landscaping and widened pathways. Additionally, three new tenants have signed leases at the center: scratch kitchen Local Foods (3,016 square feet), mattress retailer Saatva (4,000 square feet) and furniture provider Arhaus (22,201 square feet). Renovations were first announced in mid-2021.

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IndustrialLeasing ActivityLee & AssociatesTexas

Florida Tile Signs 14,903 SF Industrial Lease in Northwest Dallas

by Taylor Williams

DALLAS — Florida Tile has signed a 14,903-square-foot industrial lease in northwest Dallas. According to LoopNet Inc., the property at 9755 Clifford Drive was built on 8.2 acres in 2001 and totals 114,320 square feet. Adam Graham and Stephen Williamson of Lee & Associates represented the landlord, Prologis, in the lease negotiations. The tenant representative was not disclosed.

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Leasing ActivityOfficeTexas

Oxford Partners Negotiates 8,263 SF Office Lease in Houston’s Greenway Area

by Taylor Williams

HOUSTON — Locally based brokerage firm Oxford Partners has negotiated an 8,263-square-foot office lease in Houston’s Greenway/Upper Kirby area. According to LoopNet Inc., the seven-story building at 2990 Richmond Ave. was constructed in 1967, renovated in 1995 and totals 83,617 square feet. Perry Mazzone & Ryan Hartsell of Oxford Partners  represented the tenant, In-Home Attendant Services, in the lease negotiations. Priscilla Alexander of Hansen Partners represented the landlord.

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DevelopmentLoansMultifamilySeniors HousingTexas

JLL Arranges $28M Loan for Refinancing, Expansion of Seniors Housing Property in Spring, Texas

by Taylor Williams

SPRING, TEXAS — JLL has arranged a $28 million loan for the refinancing of The Landing at Augusta Woods, a 148-unit seniors housing community in Spring, a northern suburb of Houston. The community comprises a 120-unit apartment-style complex that provides independent living, assisted living and memory care services, as well as 28 to-be-built independent living, duplex-style cottage units. Zane Sweet, Alanna Ellis, Zach Brantley and Kyle White of JLL arranged the four-year, fixed-to-floating-rate loan from an undisclosed life insurance company. The borrower, Harmony Communities, will use a portion of the proceeds to fund an expansion of the community.

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DevelopmentIndustrialTexas

Clay Development Nears Completion of 103,100 SF Industrial Project in Northwest Houston

by Taylor Williams

HOUSTON — Clay Development is nearing completion of High Life Distribution Center, a 103,100-square-foot industrial project in northwest Houston. The facility sits on an 8.1-acre site at 15930 Tomball Parkway and is part of the 21-acre High Life Business Park, which Clay Development originally began working on in 2010. Building features include 32-foot clear heights, 27 dock doors, two drive-in doors, 2,600 square feet of office space and 61 car parking spots. The building is expected to be ready for occupancy by the end of the year.

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AcquisitionsMultifamilyNorthmarqTexas

Northmarq Brokers Sale of 32-Unit Apartment Complex in Near Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — Northmarq has brokered the sale of Cielo at Azulyk, a 32-unit apartment complex in central Austin. The property consists of four two-story buildings on a 2.5-acre site that were built between 1973 and 1986 ad house one- and two-bedroom units. Hayden Schnieders, Will Collier, Jordan Vaughn, Chase Gardner, Diane Sogal and Scott Lamontagne of Northmarq represented the seller, Atlanta-based Zavala Capital Group, in the transaction. Noah Villicana and Cheryl Higley of Northmarq arranged acquisition financing on behalf of the buyer, California-based Mosch Capital, which plans to implement a value-add program.

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Leasing ActivityRestaurantRetailTexas

Poag Development Welcomes Four New Tenants to Metro Houston Shopping Center

by Taylor Williams

KATY, TEXAS —Poag Development Group has welcomed four new tenants to LaCenterra at Cinco Ranch, a shopping center located in the western Houston suburb of Katy. Confectionary Kilwins is scheduled to open a 1,104-square-foot store before the end of the year. Nando’s will open 2,754-square-foot restaurant in January 2024, followed by the launch of athleisure retailer lululemon in February. Lastly, IKEA will open a 5,500-square-foot store for placing and picking up furniture orders. JLL manages the center.

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Leasing ActivityOfficeOklahomaTexas

CBRE Opens 9,891 SF Office at Santa Fe Crossings in Downtown Tulsa

by Taylor Williams

TULSA, OKLA. — CBRE has opened a 9,891-square-foot office at Santa Fe Crossings, a located at 521 E. 2nd St. in downtown Tulsa. The Dallas-based real estate giant is relocating its Tulsa office from 1437 South Boulder Ave. to the seventh floor of the 134,978-square-foot building. The office is part of CBRE’s WorkPlace360 program and features various social spaces, several individual and group workspaces and a boardroom for large-format internal meetings or presentations with clients and visitors.

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Southfield-Park-35-DeSoto-Texas
AcquisitionsTexas

JLL Negotiates Sale of 489,310 SF Industrial Building in DeSoto, Texas

by Taylor Williams

DESOTO, TEXAS — JLL has negotiated the sale of the 489,310-square-foot Building 5 at Southfield Park 35 in DeSoto, a southern suburb of Dallas. Delivered in fall 2022, the building sits on 33.9 acres and features 40-foot clear heights, 185-foot truck court depths, 117 dock doors and parking for 144 trailers (expandable to 194). A partnership between Atlanta-based Seefried Properties and Affinius Capital developed and sold the property to an undisclosed buyer. Trent Agnew, Tom Weber, Pauli Kerr, Parker McCormack, Matthew Barge and Keenan Ryan of JLL brokered the deal. 

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