HOUSTON — United Equities Inc. has arranged a 15,680-square-foot industrial lease in Houston for Flow Solutions Holdings Inc., a valve solutions provider refining, petrochemical and energy industries. The tenant will occupy the warehouse located at 14710 Vickery Drive, which is located in proximity to Beltway 8, Houston’s outer loop. The facility features 1,800 square feet of office space and 28-foot eave heights. Doug Freedman of United Equities represented the landlord, Vickery-Aldine Bender LLC. Billy Gold of CBRE represented Flow Solutions.
Texas
HOUSTON — Moody Rambin has arranged a lease renewal and expansion totaling 14,536 square feet of office space in Houston for Flexpipe, a division of ShawCor Ltd. that specializes in the production of flexible composite piping. The growing tenant occupies space at the Ashford 6 building, located at 1155 Dairy Ashford Road within the Ashford Place Office Park. Bob Cromwell and Kevin Nolan of Moody Rambin represented the landlord and property owner, Delaware-based BRI 1851 ASHFORD LLC, in the negotiations.
THE WOODLANDS, TEXAS — Healthcare system Houston Methodist has purchased a 57-acre tract in The Woodlands for the construction of a 470,000-square-foot, 193-bed hospital. The Howard Hughes Corporation and its wholly owned subsidiary, The Woodlands Development Company, will develop the property on the site, located south of the intersection of I-45 and State Highway 242. The campus, which will be modeled after Houston Methodist West near Katy, will feature a 135,000-square-foot medical office building in addition to the hospital. The entire project is valued at $328 million. The hospital is slated for completion in early 2015, with opening planned for 2017. The medical office building is slated for completion in late 2015. Robert Parsley and Coy Davidson of Colliers International represented Houston Methodist in the land acquisition. The new property will be the fourth hospital campus in The Woodlands and the eighth in the Houston Methodist system.
DALLAS — StreetLights Residential (SLR) has broken ground on a 212-unit high-rise apartment property in the Uptown area of Dallas. The project, located at the intersection of the Maple/Routh Connection and Thomas Avenue, will stand 23 stories and include one- and two-bedroom residences. Gromatzky Dupree & Associates designed the building, Waldrop + Nichols Studio LLC designed the apartment interiors, and Studio Outside is designing the landscaping. SLR Uptown Construction LLC is the general contractor. The first units at the yet-to-be-named property are slated for delivery in late 2015.
McALLEN, TEXAS — Berkadia Commercial Mortgage LLC has arranged an $8.3 million loan for the acquisition of The Landing on Sixth, a 150-unit multifamily complex in McAllen. Located at 4401 N. 6th St., the property offers studio, one-, two- and three-bedroom residences, as well as a fitness center, playground, swimming pool and clubhouse. Michael Levell of Berkadia worked on behalf of the borrower, Juniper Investment Group, to secure the 10-year Fannie Mae loan, which includes a fixed interest rate of 4.87 percent and 30-year amortization schedule. The property was 98 percent occupied at the time of the loan’s closing.
AUSTIN, TEXAS — Marcus & Millichap has brokered the sale of a 64-unit self storage facility in Austin. The property, currently operated as Antler Mini Storage, is located at 824 Wagon Trail, in proximity to I-35. Nicholas Ling and Jon Danklefs of Marcus & Millichap, marketed the asset on behalf of the seller, a private investor, and also secured the buyer, another private investor.
DALLAS — Locally based hotel investment, management and advisory company Prism Hotels & Resorts has assumed management of the 303-room Sheraton Dallas Fort Worth Airport Hotel. Concurrently, Prism — along with Los Angeles-based property owner Stratford Hospitality — has committed $7 million to renovate the property, including improvements to the hotel’s three-story atrium, lobby, dining facilities, pool area and guest rooms. This investment is in addition to the recent $1 million in upgrades to the property’s Wi-Fi system and guest room bedding. Prism currently manages more than 30 hotels in urban, suburban and resort locations for multiple institutional and private owners.
AUSTIN, TEXAS — Bellomy & Co. has brokered the sale of an 89,600-square-foot self storage facility in Austin. Renovated in 2010, the 569-unit property was 87 percent leased at the time of the sale. Bill Bellomy, Michael Johnson and John Owens of Bellomy & Co. marketed the asset on behalf of the seller, Lake Travis Self Storage Ltd., and also procured the buyer, San Diego-based Lockaway Storage.
GRAND PRAIRIE, TEXAS — Lee & Associates has arranged a 76,913-square-foot industrial lease in Grand Prairie for NAWF Co. Inc., a producer of distribution solutions for the food industry. The tenant will occupy space within the facility located at 1213 W.N. Carrier Parkway, which is part of Oakridge Business Park. Mark Graybill and Scott Giordano of Lee & Associates represented the landlord, IndCor Properties Inc., in the negotiations. Tim Vogds of CBRE represented NAWF Co. Inc.
HOUSTON — Henry S. Miller Brokerage has arranged the sale of approximately five acres in Houston for the construction of Ditch Witch’s new 20,000-square-foot earth-moving equipment dealership. Craig/Houston Properties LLC purchased the lot, which is located along I-45, on behalf of Ditch Witch, a 40-year-old, family-owned company serving southeast Texas. Construction of the new facility will begin this summer, and Ditch Witch will relocate from a current location on West Little York Road upon completion. Doug Bates and Joel Hill of Henry S. Miller represented the buyer in the transaction. Reda Martin of Claridge Properties and George Jones of CBRE represented the seller, DNH LLC.