ARLINGTON, TEXAS — Lee & Associates has arranged a 39,264-square-foot industrial lease in Arlington for FlexXray LLC, a provider of advanced inspection services and contract packaging solutions. The tenant will occupy space within the warehouse at 3751 New York Ave., which is in proximity to the interchange of I-20 and State Highway 360. Trey Fricke and Reid Basinger of Lee & Associates represented FlexXray in the negotiations. Matt Dornak of Stream Realty Partners represented the landlord, G&I VII Midpoint LP.
Texas
Galveston is poised for economic growth and expansion on several fronts. With a proven track record for resiliency, the city has continued to see investments across the island touching all geographic and economic clusters. As illustrated in the 2013 Developer Profile magazine, a publication of the Galveston Economic Development Partnership (GEDP), more than $2 billion in investment is currently in process across the island. The area is seeing new investment in both public and private sector ventures. Retail, commercial, residential, industrial and institutional projects continue moving forward at an accelerated pace. Education & Healthcare As home to the University of Texas Medical Branch at Galveston (UTMB), Texas A&M University at Galveston (TAMUG), Galveston College, Texas A&M Engineering Extension Service (TEEX) Center for Marine Training and Safety, the Galveston Independent School District and several other private schools and charter schools, Galveston Island has a strong education sector. These institutions are each making investments, which points to an enhanced and superior environment for education and healthcare services. For example, UTMB is currently constructing the new Jennie Sealy Hospital, a $438 million facility with 310 patient rooms, 58 intensive care unit beds and 20 state-of-the-art operating rooms. The hospital is expected to open …
FRISCO, TEXAS — Disney Investment Group (DIG) has brokered the sale of Westside Market, a 93,562-square-foot grocery-anchored shopping center in Frisco. Tom Thumb occupies 70,000 square feet within the property, which also features a Tom Thumb fuel center. Located on the corner of FM 423 and Lebanon Road, the asset was 98 percent leased at the time of the sale. David Disney of DIG represented the unnamed seller in the acquisition and also procured the buyer, Inland Real Estate Acquisitions Inc. Matthew Tice of Inland facilitated the purchase on behalf of the buyer.
ARLINGTON, TEXAS — Lee & Associates gas brokered the sale of a 60,546-square-foot industrial property in Arlington. The building, located on 2.5 acres at 1101 Avenue G, features clear heights of 18 feet, three dock-high doors and two grade-level doors. Mark Graybill, Tom Walrich and Reed Parker of Lee & Associates represented the seller, W.W. Henry Co. LP, in the transaction. Nathan Lawrence of CBRE represented the buyer, Capital Partners LLC.
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.
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.