Friday, October 11, 2024
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AcquisitionsIndustrialTexas

Taurus Investment Holdings Buys Six Dallas-Area Industrial Buildings Totaling 589,837 SF

by Taylor Williams

BOSTON — Boston-based investment firm Taurus Investment Holdings has purchased six industrial buildings totaling 589,837 square feet that are located throughout the greater Dallas area. Taurus acquired the buildings, the specific addresses of which were not disclosed, as part of a portfolio sale that also includes six buildings in the Atlanta area totaling 334,863 square feet. The portfolio, which has an average building size of 77,000 square feet, was 99 percent leased to 32 tenants at the time of sale. The seller and sales price were not disclosed.

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DevelopmentHospitalityTexas

AJ Capital Partners Nears Completion of Adaptive Reuse Project in Waco

by Taylor Williams

WACO, TEXAS — AJ Capital Partners is nearing completion of Hotel 1928, an adaptive reuse project located at 701 Washington St. in Waco. The project reimagines the historic Grand Karem Shrine Building as a 33-room hotel with multiple onsite food-and-beverage options, as well as a rooftop terrace and 6,000 square feet of meeting and event space. The grand opening is set for Nov. 1. The hotel features “an inspired  hospitality experience designed and developed by” Waco residents and TV personalities Chip and Joanna Gaines.

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AcquisitionsNorthmarqRetailTexas

Northmarq Arranges Sale of 10,556 SF Retail Property Leased to Dollar General in Metro Austin

by Taylor Williams

GEORGETOWN, TEXAS — Northmarq has arranged the sale of a 10,556-square-foot retail property in the northern Austin suburb of Georgetown that is leased to Dollar General. The newly constructed building sits on a 1.3-acre site just off I-35. The buyer and seller both requested anonymity. Jack Collins of Northmarq brokered the deal, which traded at a cap rate of 5.25 percent.

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Leasing ActivityOfficeTexas

Bradford Commercial Negotiates 8,247 SF Office Lease in Dallas

by Taylor Williams

DALLAS — Bradford Commercial Real Estate Services has negotiated an 8,247-square-foot office lease at 4514 Travis St. in the Knox-Henderson area of Dallas. The tenant, real estate services firm Douglas Elliman Inc., is tripling the size of its Dallas office within Travis Walk, a 100,000-square-foot building. Melanie Hughes and Richmond Collinsworth of Bradford Commercial represented the undisclosed landlord in the lease negotiations.

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IndustrialLeasing ActivityTexas

Liberty Litigation Support Signs 4,207 SF Office Lease in Northwest Houston

by Taylor Williams

HOUSTON — Liberty Litigation Support has signed a 4,207-square-foot office lease at 12777 Jones Road in northwest Houston. According to LoopNet Inc., the four-story building was constructed in 1982, renovated in 2021 and totals 119,388 square feet. Chase Mcateer of Oxford Partners represented the tenant in the lease negotiations. Adam Strauss of Belvoir Real Estate Group represented the landlord on an internal basis.

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DevelopmentHospitalityTexas

Arriba Capital Provides $52.5M Construction Loan for Dual-Branded Hotel Project in Downtown Houston

by Taylor Williams

HOUSTON — Arizona-based lender Arriba Capital has provided a $52.5 million construction loan for a dual-branded hotel project that will be located at 1319 Texas Ave. in downtown Houston. The property will feature a total of 275 guestrooms with traditional and extended-stay options under the Holiday Inn Express and Staybridge Suites brands. Shared amenities will include an outdoor pool, meeting and event space, a full-service bar, fitness center, business center and a dining area for complimentary breakfast. Completion is slated for late 2025. The borrower and developer is Houston-based Neway Hospitality.

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AcquisitionsHospitalityTexas

CityStreet Residential Partners Buys 224-Site RV Resort in Georgetown, Texas

by Taylor Williams

GEORGETOWN, TEXAS — Houston-based owner-operator CityStreet Residential Partners has purchased Stone Oak Ranch RV Resort, a 224-site property located north of Austin in Georgetown. The Boterra Group originally constructed the park in October 2020. Amenities include a pool, fitness center, dog park, playground, pickleball courts and onsite laundry facilities. CityStreet plans to rebrand the property under its Jetstream umbrella and develop an additional 200 sites.

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AcquisitionsIndustrialTexas

Matthews Brokers Sale of 93,000 SF Industrial Portfolio in Midland, Odessa

by Taylor Williams

MIDLAND AND ODESSA, TEXAS — Matthews Real Estate Investment Services has brokered the sale of a portfolio of seven industrial buildings totaling 93,000 square feet in the West Texas cities of Midland and Odessa. The portfolio was fully leased to seven tenants, including Rexel, Interstate Batteries and North Basin Coating, at the time of sale. Michael Kelleher and Jeff Miller of Matthews brokered the deal. The buyer and seller were not disclosed.

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AcquisitionsRetailTexas

Partners Real Estate Negotiates Sale of 8,000 SF Retail Property in Fort Stockton, Texas

by Taylor Williams

FORT STOCKTON, TEXAS — Partners Real Estate has negotiated the sale of an 8,000-square-foot retail property that is leased to Dollar General in the West Texas city of Fort Stockton. According to LoopNet Inc., the freestanding, single-tenant building at 1001 W. Dickinson Blvd. was originally constructed in 1994. The buyer and seller were both Houston-based investment firms that  requested anonymity. Evan Altemus of Partners brokered the deal.

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AcquisitionsRetailTexas

STRIVE Arranges Sale of 7,391 SF Retail Strip Center in Spring, Texas

by Taylor Williams

SPRING, TEXAS — Dallas-based investment sales brokerage firm STRIVE has arranged the sale of Gosling Green, a 7,391-square-foot retail strip center in Spring, a northern suburb of Houston. The property was fully leased at the time of sale. Jake Dutson of STRIVE represented the seller in the transaction and Hudson Lambert, also with STRIVE, represented the buyer. Both parties were private investors that requested anonymity.

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