HOUSTON — Molto Properties and Generational Commercial Properties will develop a 166,250-square-foot distribution center in north Houston. Located on 19 acres at 431 Airtex Drive, the project will feature 30-foot clear heights and proximity to Beltway 8 and the George Bush International Airport. Mike Taetz, Bill Byrd and Ryan Byrd of Colliers International will market the property upon its completion in the fall. Molto Properties is a privately held industrial real estate firm with approximately 4 million square feet of industrial properties under management. Generational Commercial Properties is a commercial real estate development and project management firm based in Austin.
Texas
FORT WORTH, TEXAS — Lee & Associates has arranged a 130,128-square-foot industrial lease in Fort Worth for Universal Nutrients, a manufacturer of sports nutrition supplements. The tenant will occupy the warehouse facility located at 14801 Sovereign Road, which is in close proximity to the DFW International Airport, as well as the major thoroughfares of State Highway 360, State Highway 183 and State Highway 161. The property features 24-foot clear heights, 14 dock-high doors and 20,000 square feet of office space. Trey Ficke and Reid Bassinger of Lee & Associates represented Universal Nutrients in the lease negotiations. The landlord, MLRP 14801 Sovereign LLC, was represented internally by Matthew Smith.
ARLINGTON, TEXAS — Bradford Commercial Real Estate Services has arranged a 52,032-square-foot industrial lease in Arlington for recycling company Waste Track Services LLC. The tenant will occupy the first floor of a two-story building that is part of a larger four-building development in the Great Southwest Industrial District. Property owner FPA Division Associates LP will strip the tenant’s space to shell condition and add four new dock doors prior to occupancy. Waste Track Services, which will relocate from nearby Granbury, will also hold rights to half of the second floor of the building. Will Dillard of Bradford Commercial represented the tenant in the lease negotiations.
HOUSTON — General contractor Satterfield & Pontikes Construction will break ground this month on a new 32,000-square-foot store in Houston’s Galleria submarket for electronics retailer Micro Center. The $6 million project, which will include showroom, office and storage space, is located on a 3.5-acre site near the intersection of South Rice Boulevard and Westpark Drive. The building will feature concrete tilt-wall panel construction, as well as a 90-foot tower rising through the roof that will display the Micro Center sign. Powers Brown Architects is providing design and architectural services for the property, which is slated for completion within six months.
KATY, TEXAS — Marcus & Millichap has brokered the sale of Cinco Ranch Plaza I, a 20,562-square-foot retail property in the Houston suburb of Katy. Located on 2.2 acres at 24124 Cinco Ranch Blvd., the facility houses medical and professional tenants, including Dentistry by RSE and Alamo Title, in addition to retailers. Derek Hargrove and Justin Miller of Marcus & Millichap marketed the property on behalf of the seller, The Woodlands-based developer The Marcel Group. Hargrove and Miller also secured the buyer, an international private capital investor.
HOUSTON — NAI Houston has arranged a 17,430-square-foot industrial lease in Houston for McGuire Bearing Co. LLC, a distributor of bearings and power transmission products. The tenant will occupy space at Pine Timbers Distribution Center 2, which is located at 4460 Pine Timbers St. The property is in close proximity to the major thoroughfare of U.S. Route 290. Ed Bane and Jon Michael of NAI Houston represented the unnamed landlord in the negotiations. Brad Beauchamp of Colliers International represented McGuire Bearing Co.
HOUSTON — Tanglewood Property Group (TPG) has acquired a 101,000-square-foot office building in Houston’s Beltway 8 Corporate Center business park. The property, located at 5300 W. Sam Houston Parkway North, was fully leased at the time of the sale. Henry Hagendorf of TPG and Tom Lynch of CBRE represented TPG in the acquisition.
FRISCO, TEXAS — CBRE has brokered the sale of Lebanon Ohio Center, a 29,200-square-foot retail property in Frisco. Located at 4681 Ohio Drive, the unanchored strip shopping center was 90 percent occupied at the time of the sale by tenants including CrossFit Remedy and Arts and Technology Institute. Jennifer Pierson and Beth Pierson of CBRE represented the seller, LandPlan Development Corp., in the transaction. Los Angeles-based Shayan Holdings LLC purchased the asset.
PASADENA, TEXAS — Marcus & Millichap has brokered the sale of a 15,280-square-foot self storage facility in the Houston suburb of Pasadena. Operated as Burke Self Storage II, the property is located at 2003 Cherrybrook Lane. The facility’s 149 non-climate-controlled units were 88 percent leased at the time of the sale. Roger Hendricks of Marcus & Millichap marketed the asset on behalf of the seller, a personal trust. Alex Bouchard and Gus Lagos, also of Marcus & Millichap, secured the buyer, a family trust completing a 1031 tax-deferred exchange. The property sold for $43.80 per net rentable square foot, representing a cap rate of 9.5 percent.
HOUSTON — NAI Houston has arranged a 21,000-square-foot industrial lease in Houston for Halco Lighting Technologies, a manufacturer of lamps and ballasts for commercial, industrial and residential applications. The tenant will occupy Building 3 of the Lone Star business park, located at 6323 Brookhill Drive in the South Inner Loop Industrial submarket. The property features 22-foot clear heights and four dock-high doors. Ed Bane and Jon Michael of NAI Houston represented the unnamed landlord in the negotiations. Jim Arledge of Arledge & Co. represented Halco Lighting Technologies.