Texas

ShainRealty Capital Acquires 256-Unit Multifamily Property in Mesquite, Texas

by Taylor Williams September 7, 2023

MESQUITE, TEXAS — Los Angeles-based investment firm ShainRealty Capital has acquired Landmark at Courtyard Villas, a 256-unit multifamily property located in the eastern Dallas suburb of Mesquite. The apartment complex was built in 1999 and has an average unit size of 905 square feet. Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap brokered the sale of the property. ShainRealty Capital plans to invest about $3 million in capital improvements and rebrand the property as Infinity at Sunnyvale. The seller was a private investor.

September 7, 2023

Acquisitions Multifamily Texas

Knightvest Capital Sells 216-Unit Apartment Complex in Euless, Texas

by Taylor Williams September 7, 2023

EULESS, TEXAS — Dallas-based Knightvest Capital has sold Reagan at Bear Creek, a 216-unit apartment complex located in the eastern Dallas suburb of Euless that was built in 1998. According to Apartments.com, Reagan at Bear Creek offers one-, two- and three-bedroom units and amenities such as a pool, fitness center and a resident clubhouse. Knightvest Capital originally acquired the property in September 2017 and implemented a value-add program. The buyer was not disclosed.

September 7, 2023

Acquisitions Hospitality Texas

CBRE Brokers Sale of 128-Room La Quinta Inn Hotel in Austin

by Taylor Williams September 7, 2023

AUSTIN, TEXAS — CBRE has brokered the sale of the 128-room La Quinta Inn & Suites by Wyndham Austin Southwest hotel. The hotel offers an outdoor pool, fitness center, business center, meeting/event space and free shuttle service to Austin-Bergstrom International Airport. Michael Yu and Rahul Bijlani of CBRE represented the seller, Highgate, a hospitality investment and management firm with five offices across the country, in the transaction. Houston-based K&K Hotel Group purchased the asset for an undisclosed price and was self-represented.

September 7, 2023

Acquisitions Office Texas

Oldham Goodwin Arranges Sale of 90,000 SF Office Building in Bryan, Texas

by Taylor Williams September 7, 2023

BRYAN, TEXAS — Texas-based brokerage firm Oldham Goodwin Group has arranged the sale of a 90,000-square-foot office building in the Central Texas city of Bryan. The buyer, Capital Farm Credit, will also occupy the building via a late 2024 relocation from its current headquarters facility in nearby College Station. Clint Oldham of Oldham Goodwin represented Capital Farm Credit in its purchase of the building from Arizona-based Levine Investments. Jody Slaughter of Oldham Goodwin also arranged an early lease termination with the existing tenant, California-based telecommunications firm Viasat Inc.

September 7, 2023

Industrial Leasing Activity Texas

Belt Power Signs 14,031 SF Industrial Lease Renewal, Expansion in Grand Prairie, Texas

by Taylor Williams September 7, 2023

GRAND PRAIRIE, TEXAS — Belt Power has signed a 14,031-square-foot industrial lease renewal and expansion in the central metroplex city of Grand Prairie. The Georgia-based supplier of industrial equipment is taking an additional 8,598 square feet at Woodlands Business Center, a three-building development. Michael Spain and Jason Finch of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as SL Project Texas LP, in the lease negotiations. Sam Skinner of ICON Commercial Interests represented Belt Power.

September 7, 2023

Development Multifamily Texas

Howard Hughes Corp. Breaks Ground on 268-Unit Multifamily Project in The Woodlands, Texas

by Taylor Williams September 6, 2023

THE WOODLANDS, TEXAS — The Howard Hughes Corp. (NYSE: HHH) has broken ground on 1 Riva Row, a 268-unit multifamily project that will be located about 30 miles north of Houston in The Woodlands. The development will feature a 13-story tower and four-story residential living building with two-story townhomes on the ground level, as well as traditional studio, one-, two- and three-bedroom floor plans. Amenities will include a pool with cabanas, outdoor grilling and dining areas, a 24/7 fitness center, sports lounge and a rooftop terrace. Residents will also have access to roughly two miles of walking and jogging trails along The Woodlands Waterway. Completion is slated for late 2025.

September 6, 2023

Acquisitions Industrial Texas

Harbor Capital Acquires 198,000 SF Industrial Property in Southwest San Antonio

by Taylor Williams September 6, 2023

SAN ANTONIO — Austin-based investment firm Harbor Capital has acquired a 198,000-square-foot industrial property located at 10120 Fischer Road in southwest San Antonio. The vacant facility can support either manufacturing or distribution uses. Built on roughly 10 acres in 2008, the property features 40-foot clear heights, 24 dock-high doors, one drive-in door, 94 car parking spaces, 130-foot truck court depths and 7,000 square feet of office space. Stan Nowak and Sam Bush of Avison Young represented Harbor Capital in the transaction. Trent Agnew, Josh Villarreal and Greer Shetler of JLL represented the seller, Becknell Industrial.

September 6, 2023

Acquisitions Office Texas

JLL Arranges Sale of 143,410 SF Office Building in Metro Houston

by Taylor Williams September 6, 2023

SUGAR LAND, TEXAS — JLL has arranged the sale of 77 Sugar Creek, a 143,410-square-foot office building located in the southwestern Houston suburb of Sugar Land. The six-story building was renovated in 2018 and was roughly 64 percent leased at the time of sale. Rick Goings, Marty Hogan and Will Sledge of JLL represented the seller, CW Capital, in the transaction. Locally based investment firm InLight Capital purchased the asset for an undisclosed price.

September 6, 2023

Civic Development Texas

Hensel Phelps Begins Work on 84,500 SF Terminal Expansion Project at Austin Airport

by Taylor Williams September 6, 2023

AUSTIN, TEXAS — General contractor Hensel Phelps has begun work on the West Gate Expansion, a project that will increase the size of a terminal at Austin-Bergstrom International Airport by 84,500 square feet across three levels of apron, concourse and mezzanine space. The expansion will also add amenities such as new food and retail spaces, public art installations, more seating areas, larger restrooms, a third-level patio and private rooms for nursing or pumping. The project team will also construct three new gates. Completion is slated for 2026.

September 6, 2023

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 34-Unit Multifamily Portfolio in San Angelo, Texas

by Taylor Williams September 6, 2023

SAN ANGELO, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of two multifamily properties — Capri Apartments and Bryant Place — in the West Texas city of San Angelo. According to LoopNet Inc., Capri Place totals 24 units and was built in 1968, while Bryant Place consists of 10 units and was constructed in 1974. William Stover Jr. of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Additional terms of sale were not disclosed.

September 6, 2023

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