HOUSTON — Law firm Royston, Rayzor, Vickery & Williams has signed an 11,611-square-foot office lease at 1415 Louisiana St. in downtown Houston. The building rises 43 stories, spans 520,000 square feet and houses an 8,000-square-foot fitness center and multiple onsite food-and-beverage options. Griff Bandy and John Zivley of Partners Real Estate represented the tenant in the lease negotiations. Connor Saxe of Cushman & Wakefield represented the landlord, Wedge Commercial Properties.
Day-to day life as a property manager in both a conventional multifamily building and student housing can be unpredictable. Hiring and staffing issues can plague many operators, resulting in the need to wear many different hats. These different hats can make it difficult for staff to fully address all of the residents’ needs. Managing a Wi-Fi system — perhaps the most crucial technology platform at any community — is one duty that the onsite team can happily offload to a third-party provider. Reliable Managed Wi-Fi Systems Roxann Campbell, vice president of regional sales at Pavlov Media, says today’s Internet-connected culture has increased the need for residents to have an absolutely reliable managed Wi-Fi system. Pavlov Media (which provides Wi-Fi & fiber services to multifamily and student properties) is an Internet service provider (ISP) that can establish connectivity throughout entire buildings while managing Internet for all of a property’s residents. This managed Wi-Fi approach benefits the buildings’ owner-operators because it offers a planned strategy for wiring and Wi-Fi signals. Routers aren’t competing against each other, as they can in communities that give their residents the option to sign up with any number of competing Internet providers. “Bulk managed Wi-Fi provides residents …
FORT WORTH, TEXAS — Newmark has arranged joint venture equity for Oak Creek Distribution Center, a 238,289-square-foot industrial facility in Fort Worth. Oak Creek Distribution Center will be situated on a 17.8-acre site and feature a rear-load configuration, 32-foot clear heights, 130-foot truck court depths, two ramps and 63 dock-high doors. Dustin Volz, Stephen Bailey, Dom Espinosa and Zach Riebe of Newmark worked on behalf of the sponsor, Dallas-based Falcon Commercial Development, to secure the equity placement from Diamond Realty Investments. Construction is scheduled to begin later this month and to be complete by spring 2024.
DENTON, TEXAS — Marcus & Millichap has brokered the sale of Affordable Self Storage, a 332-unit facility located in the North Texas city of Denton. The property was built in 1973 and totals 47,108 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a locally based private investor that has operated the property for three decades, in the transaction. The buyer was a Chicago-based investment firm. Both parties requested anonymity.
MANOR, TEXAS — The Independent School District of Manor, a northeastern suburb of Austin, has completed a 116,000-square-foot academic project. Manor Rise Academy will serve approximately 850 students from kindergarten to eighth grade. The 40-acre campus will house multiple gyms, a media center, two art rooms, three maker spaces, performing arts classrooms, student collaboration areas and flexible classrooms. The site also features competition-level athletic fields, outdoor learning spaces and playgrounds. Birmingham-based HPM served as program manager for the project, providing quality control and preconstruction services, as well as maintaining schedule and budget compliance during construction.
FORT WORTH, TEXAS — Stuart C. Irby Co., a provider of electrical parts and equipment, has signed a 51,600-square-foot industrial lease at West Fork Business Center in Fort Worth. Stuart Smith of Cushman & Wakefield represented the tenant in the lease negotiations. Trey Goodspeed and George Jennings of Holt Lunsford Commercial represented the landlord, Exline Capital.
RHOME, TEXAS — The Northwest Independent School District has acquired a 33,550-square-foot warehouse that is situated within 114 Industrial Park, a 174-acre development located about 25 miles north of Fort Worth in Rhome. Owned by Dallas-based Realty Capital, 114 Industrial Park currently offers 150,000 square feet of shallow-bay industrial space, with a 136,500-square-foot building also under construction. George Curry of JLL represented Northwest ISD in the transaction.
FORT WORTH, TEXAS — Locally based general contractor KWA Construction has topped out The Settler Apartments, a 362-unit multifamily project in Fort Worth. Designed by Hensley Lamkin Rachel and developed by Toll Brothers, Settler Apartments will be a four-story structure that will wrap around a five-story precast parking garage. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, outdoor grilling and dining stations, clubroom, dog run and a conference center. Full completion is slated for this fall.
CORPUS CHRISTI, TEXAS — Northmarq has brokered the sale of Coral Cay Apartments, a 109-unit multifamily property in Corpus Christi. Built in 1970, the property features an average unit size of 955 square feet and was 97 percent occupied at the time of sale. Sparkle Asset Management sold the property to an affiliate of SPV Property Management for an undisclosed price. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented both parties in the transaction. Cheryl Higley, also with Northmarq, arranged acquisition financing for the deal.
FORT WORTH, TEXAS — Ring Container Technologies, a provider of plastic fabrication services, has signed a 105,857-square-foot industrial lease renewal at Railhead Industrial Park in Fort Worth. The 633-acre, rail-served development is located at the corner of Northeast Loop 820 and Blue Mound Road on the city’s north side. Allen Gump of Colliers represented the tenant in the lease negotiations. Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, James Campbell Co.