WAXAHACHIE, TEXAS — Wan Bridge, a Texas-based owner-operator, has completed Sonata Estates, a 127-unit build-to-rent residential project in Waxahachie, a southern suburb of Dallas. The development houses three- to four-bedroom townhomes that range in size from 1,612 to 1,854 square feet. Amenities include a pool and splash pad, playground, outdoor sports courts, covered picnic areas and baseball fields. Residents also have access to onsite maintenance services and a walking path that connects to a nearby park. Rents start at $2,250 per month.
AUSTIN, TEXAS — CBRE has arranged the sale of West Side Village, a 51,392-square-foot retail property located along West 6th Street near downtown Austin. The building, which was constructed on 1.7 acres in 1951, is currently vacant and has redevelopment potential, according to the brokerage team. Brad Bailey and Logan Reichle of CBRE represented the seller, a joint venture between Stonelake Capital Partners and Schlosser Development, in the transaction. The buyer was Austin-based investment firm Riverside.
SUGAR LAND, TEXAS — Circle Clothing has signed a 37,000-square-foot industrial lease in the southwestern Houston suburb of Sugar Land. The textile manufacturer is taking space at Sugar Land Corporate Center, an 88,200-square-foot building that is situated within a larger master-planned development. Jim Pratt of Colliers represented the tenant in the lease negotiations. Jarret Venghaus and Jordan Raney of JLL represented the landlord, Prologis.
HOUSTON — Dallas-based Apricus Realty Capital has purchased a 31,750-square-foot industrial outdoor storage facility in northwest Houston. The site at 12400-12402 Taylor Road spans five acres and houses two buildings, as well as a paved concrete yard for construction materials storage and distribution. Apricus acquired the property in a joint venture with Baltimore-based ABR Capital Partners. The seller and sales price were not disclosed.
RICHARDSON, TEXAS — Newmark has brokered the sale of CityLine, a 2.2 million-square-foot mixed-use development in Richardson, a northern suburb of Dallas. The price was undisclosed. The property consists of four State Farm Insurance-occupied office buildings, including 120,000 square feet of retail space, and an attached 42,000-square-foot medical office building. Mirae Asset Global Investments was the seller. The buyer was a firm created by former Phoenix Suns owner Robert Sarver, according to The Dallas Morning News. The office buildings, constructed in 2016, are the focal point of a master-planned, 186-acre development located at the connection of two major DART Rail lines. There are also eight luxury apartment complexes, 30 restaurants and bars, a 148-room Aloft hotel and 21 acres of green space and walking trails, none of which were included in the sale. Dallas-Fort Worth office-using employment continues to remain near historical highs, according to Newmark. As of the end of August 2023, the metroplex reported 1.28 million office workers, an increase of 67.6 percent compared with 2010 and an increase of 21.5 percent compared with 2019. “CityLine is a dynamic development, well situated to reap long-term appreciation as the metroplex continues to grow north,” says Chris Murphy, a vice …
SAN ANTONIO — Greysteel has brokered the sale of Park at Rialto, a 274-unit apartment community located on the northwest side of San Antonio. Built in 2017, Park at Rialto is a garden-style community that offers a pool, media lounge and a fitness center. Units come in studio, one-, two- and three-bedroom units, according to Apartments.com. J.R. Ellis and Matthew Romanchuk of Greysteel negotiated the sale on behalf of the buyer and seller, both of which requested anonymity.
EL PASO, TEXAS — L&F Distributors, a South Texas-based wholesaler of alcoholic beverages, will open a 220,000-square-foot industrial facility in El Paso. The facility will feature 32-foot clear heights, 26 loading docks and two levels of office space, and the site can support another 68,500 square feet of expansion. HDA Architects is designing the project, and Catamount Constructors is serving as the general contractor. Construction began earlier this month and is expected to be complete in 2025.
SAN ANTONIO — San Francisco-based investment firm Cooper Street Capital has purchased South Hill Apartments, a 174-unit multifamily property in southeast San Antonio. Built in 1965, South Hill Apartments offers one-, two- and three-bedroom units and amenities such as three pools, tennis courts, a playground and a business center. Zar Haro, Moses Siller, Bryan VanCura, Brian Booth and Phil Grafe of Northmarq represented the seller in the transaction.
DALLAS — Marcus & Millichap has brokered the sale of Polk Villas, a 165-unit apartment complex in South Dallas. The 16-building property was built in phases between 1960 and 1973. Al Silva and Ford Braly of Marcus & Millichap represented the undisclosed seller and procured the buyer, a partnership led by Henley Properties, in the transaction. The new ownership plans to implement a value-add program. Tyler Rentfro, Travis Headapohl and Diego Garcia of Marcus & Millichap Capital Corp. arranged $12.8 million in preferred equity and agency financing for the deal.
HOUSTON — Atlanta-based investment firm Formation Capital has acquired a 147,135-square-foot office building that sits on a 3.1-acre site at 16666 Northchase Drive in North Houston. The building rises six stories and was constructed in 1985. David Carter of Colliers represented the seller, Geosam Capital Group, in the transaction. The sales price was not disclosed.