SAN ANTONIO — CBRE has brokered the sale of Outspan Townhomes, a 200-unit multifamily community in San Antonio. The property, which was 94 percent occupied at the time of the sale, offers one- to four-bedroom townhomes, as well as communal amenities including a swimming pool, business center, clubhouse and playground. Located at 4611 E. Houston St., the complex is in close proximity to the Brooke Army Medical Center, Fort Sam Houston, I-10, Loop 410 and I-35. Ryan Epstein, Charles Cirar and Michael Wardlaw of CBRE represented the undisclosed seller in the transaction. MC Cos. purchased the property.
Texas
HOUSTON — Private equity fund Velocis has sold a 100,716-square-foot office building in Houston to Hicks Ventures, a locally based real estate investment firm. The five-story property, located at 7700 San Felipe St. and built in 1979, offers views of the Buffalo Bayou and is situated in close proximity to the Memorial Villages retail development. Velocis originally acquired the building in 2011 and reports a 30 percent internal rate of return.
SAN ANTONIO — Developer Skanska has completed and opened the 85,000-square-foot intensive care unit tower at San Antonio’s Metropolitan Methodist Hospital. The addition includes expanded radiology and emergency departments, a new gastrointestinal lab, a 24-bed intensive care unit and space for future growth. Skanska reported zero safety accidents resulting in lost time and recycled 95 percent of the construction waste from the project. San Antonio Methodist Healthcare System employs 8,000 professionals in 26 facilities, including nine hospitals.
FORT WORTH, TEXAS — General contractor Speed Fab-Crete has broken ground on a 67,081-square-foot manufacturing and distribution facility for Granite Security Products Inc. in Fort Worth. The single-story facility, to be located adjacent to the Granite Security’s existing office and production headquarters at 4801 Esco Drive, will be the third facility constructed by Speed Fab-Crete for the tenant, a manufacturer of security containers. This design-build development involves a combination of precast concrete and pre-engineered metal superstructure. The project team also includes Callahan & Freeman Architects, Civil Point Engineers Inc., Hulsey Engineering and Leeming Design Group.
HOUSTON — Boyd Commercial has brokered the sale of a 30,675-square-foot industrial property in Houston. The building, located on 1.8 acres at 4321 Directors Row, is in close proximity to the interchange of I-610 and State Highway 290. David Munson of Boyd Commercial represented the buyer, 7100 North Loop East Inc., in the transaction. Lucian Bukowski and Wyatt McCulloch of CBRE represented the seller, Max 5 Holdings LLC.
DALLAS — Henry S. Miller Brokerage has arranged the sale of a 10,000-square-foot industrial building in Dallas. Located at 11464 Harry Hines Blvd. and in close proximity to the interchange of I-35 and I-635, the property will be used as a wholesale outlet by purchaser OM Imports, a jewelry and fashion accessory company. Turano represented the seller, Neal Mehta LP, in the transaction.
RICHARDSON, TEXAS — KDC Real Estate Development & Investments will develop a fourth building for State Farm’s Richardson campus, located within KDC’s CityLine mixed-use project. The 500,000-square-foot addition will bring State Farm’s total leased space in the development to 2 million square feet. The new building, to be located at the northeast corner of State Street and Plano Road, will include 12 stories of office space above five stories of structured parking and 30,000 square feet of ground-floor retail space. KDC is currently constructing the first three State Farm buildings and will break ground on the fourth this summer. Completion is slated for mid-2016.
HOUSTON — Developer Peloton Commercial Real Estate will break ground in the fourth quarter on Westcreek Centre, a 368,000-square-foot office tower in Houston’s Galleria area. The 21-story structure, to be located on 3.6 acres between West Loop 610 and Westcreek Lane, will be divided into rectangular floor plates of 26,500 square feet each. Architect BOKA Powell designed the project for LEED Silver certification. Griff Jaggard and Derek Beck of Moody Rambin will lease the property, and Peloton will provide management services. Westcreek Centre will be the first new office building in the Galleria/Post Oak submarket inside of West Loop 610 to be built in 34 years.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of a 79,487-square-foot retail property in Arlington net-leased by Academy Sports + Outdoors. Located at 1101 W. Arbrook Blvd., near The Parks at Arlington Mall development, the property received multiple offers within its first week of listing. At the time of the sale, the tenant had 13 years left on its initial 20-year term. Jason Vitorino of Marcus & Millichap represented the seller in the transaction, a local developer, and also secured the buyer, a Texas-based limited liability company.
AUSTIN, TEXAS — Equitable Commercial Real Estate (ECR) has brokered the sale of a 19,000-square-foot office building in Austin. The property, located at 2301 W. Anderson Lane, is in proximity to the Mopac Expressway and I-35, as well as Northcross Mall. Patrick Ley and Boyd Harris of ECR represented the unnamed seller in the transaction. Jason Steinberg, also of ECR, represented the unnamed buyer.