DALLAS — Sealy & Co. has acquired a 1.5 million-square-foot industrial portfolio located in four submarkets in Dallas. The industrial portfolio is comprised of 18 buildings occupied by a diverse tenant base. The assets were acquired as part of the Sealy Strategic Equity Partners LP portfolio. The seller in the transaction was undisclosed.
CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 120,483-square-foot industrial building located at 2425 Camp Ave. in Carrollton. Nathan Denton, Adam Graham and Corbin Blount of Lee & Associates’ Dallas/Fort Worth office represented the seller, Evergreen Properties. Ryan Boozer and Todd Poticny of Stream Realty Partners LP represented the buyer, UT Vehicle.
LEWISVILLE, TEXAS — Bright Realty has brokered leases for 11 Spirit Halloween stores totaling 118,914 square feet. Most of the stores are located in the Dallas area, including locations in Allen, Arlington, Dallas, Desoto, Garland and Lewisville. Two of the stores are in Tyler, one is in Wichita Falls and one is in Oklahoma. The leases range in size from a 5,437 square-foot store in Fort Worth to a 30,000-square-foot store in Lewisville. Timothy McNutt and Britton Lankford of Bright Realty represented Spirit Halloween in the transactions.
BRYAN, TEXAS — Marcus & Millichap has arranged the sale of Quail Hollow, a 176-unit multifamily property in Bryan. Joe James and Kent Myers of Marcus & Millichap represented the seller and procured the buyer. Built in 1982, the property is located at 3535 Plainsman Lane in Bryan, two miles from Texas A&M University. The university’s shuttle bus stops at the property every 20 minutes. Blinn College, a two-year academic institution, is within 1.5 miles of the property. Apartments at Quail Hollow average 842 square feet and feature high-speed Internet, extended cable in every room and screened-in patios and balconies. Both parties in the transaction were undisclosed.
Last summer, NAI Rio Grande Valley and Michael Uhrbrock, senior vice president of research at the University of Texas Rio Grande Valley, examined eight Rio Grande Valley cities to examine the history of retail sales between 2002 and 2014 and to forecast the future. The cities examined were McAllen, Brownsville, Harlingen, Edinburg, Pharr, Weslaco, Mission and Mercedes. We were working on a piece for the Rio Grande Valley Partnership’s Economic Development magazine. What we learned is quite interesting and presents an unusual view into the future potential for retail expansion in the Rio Grande Valley. Total retail sales in the eight cities increased $4.47 billion between 2002 and 2014. Forecasting the future required a view of low, median and high ranges of potential sales. Based on the high projections, it is anticipated that valley sales in these cities will increase by $13.68 billion between 2015 and 2030. A number of factors go into the results, but several factors are expected contribute to the expected increases. Growth in Many Sectors With 1,450,000 residents, the population of the Rio Grande Valley today is larger than that of nine states. Forecasts show the population will grow to 2.5 million by 2040, which does …
LEAGUE CITY, TEXAS — Bellomy & Co. has arranged the sale of Space Station Self Storage in League City, 20 miles southeast of Houston. The Class A facility consists of 674 units and 77,980 square feet on 5.4 acres. The property, built in 2009, was 85 percent occupied at the time of closing. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. marketed the property on behalf of the Houston-based seller. The trio also procured the buyer, Public Storage, which is the largest self-storage operator in the United States and Europe with more than 2,000 facilities.
TOMBALL, TEXAS — Colliers International has brokered the sale of a 5.5-acre tract of land on Spell Road just west of Hufsmith Kohrville Road in Tomball. The $25 million project, the second for the Tomball Business and Technology Park, will consist of a 42,700-square-foot laboratory and office facility expected to hold 75 employees. Tom Condon Jr. of The Woodlands office of Colliers International represented the seller, Tomball Economic Development Corp. Gray Gilbert of CBRE represented the buyer, GE Betz Inc. Jane Matthews of Stewart Title Tomball coordinated the closing.
AUSTIN, TEXAS — Castle Lanterra Properties has purchased Arrangement, a 370-unit apartment property in Austin. The acquisition marks the fourth in Austin for the New York-based firm since entering the market in March 2015. Located in Austin’s East Riverside corridor, Arrangement was originally constructed in 1973 and underwent a $10 million redevelopment in 2013. The property is located less than three miles from downtown Austin.
HOUSTON — CBRE has negotiated a 38,561-square-foot lease renewal for container operator Cosco Container Lines Americas Inc. The office facility is located at 15600 John F Kennedy Blvd. in Houston. Cosco will renovate the space to accommodate new hires. CBRE’s Kevin Saxe and Jerrod McQuain negotiated the lease on behalf of Cosco. Wade Bowlin of PMRG represented the landlord, 15600 JFK Houston Partners LLC.
DALLAS — Lee & Associates has completed a lease renewal for a 28,891-square-foot industrial space located at 11625 Columbia Center Drive in Dallas. Nathan Denton of Lee & Associates Dallas/Fort Worth represented the tenant, Vogue Tyre, a provider of custom tires and wheels, and Mitch Pruitt internally represented the landlord, Prologis.