SAN MARCOS, TEXAS — World Class Capital Group LLC has acquired State Flats, a 162-unit student housing community near the campus of Texas State University in San Marcos. The property, located at 1640 Aquarena Springs Drive with frontage on Interstate 35, offers one- and two-bedroom apartments in townhome and single-floor configurations. Amenities include two swimming pools, a fitness center and a sand volleyball court. World Class Capital, based in Austin, operates a commercial portfolio in 12 states.
Texas
HOUSTON — Jones Lang LaSalle (JLL) has brokered the sale of Northwest Crossing Centre, a 179,469-square-foot shopping center in Houston. Best Buy, Marshalls, Big Lots and Shoe Carnival anchor the center, which was fully occupied at the time of the sale. The property is located at the intersection of U.S. Highway 290 and Hollister Road, shadow anchored by Target and in proximity to Houston’s CBD and Galleria submarkets. George Cushing and Wendy Vandeventer of JLL marketed the property on behalf of the seller, Weingarten Realty. Jimmy Board of JLL secured 10-year, fixed-rate financing for the buyer, USA Properties.
AUSTIN, TEXAS — Muskin Commercial LLC has brokered the sale of University Crest Apartments, a 105-unit multifamily complex in Southeast Austin. The property, located at 1616 Royal Crest Drive, includes of 12 garden-style buildings, a management office and a swimming pool on nearly five acres. Ellen Muskin of Muskin Commercial represented the seller, San Diego-based Crest Apartments LLC. Royal Crest LLC purchased the facility with financing from Arbor Commercial Funding LLC.
CLEVELAND, TEXAS — Full-service real estate firm ARA has brokered the sale of Kirbywood Apartments, a 72-unit multifamily community in the Northeast Houston suburb of Cleveland. Constructed in 1978, the Class B property is located at 307 Kirbywood Drive and offers one- to three-bedroom apartments plus amenities including a swimming pool, playground and laundry facility. The complex was 95 percent occupied at the time of the sale. Jon Boone, Jeff Patterson and Kelly Witherspoon of ARA represented the seller, a Houston-based private investor. The buyer is an investment company based in California.
RICHARDSON, TEXAS — Hudson Peters Commercial has brokered the sale of an 11,420-square-foot office building in Richardson. Located at 212 W. Spring Valley Road, the two-story property is in close proximity to State Highway 75 and Interstate 635. Janice Peters and Michelle Hudson of Hudson Peters represented the seller, Medwed Properties, in the transaction. Kent Smith of NAI Robert Lynn represented the buyer, Modjarrad & Abusaad Law Firm.
AUSTIN, TEXAS — Full-service real estate firm ARA has brokered the sale of Las Colinas, a 178-unit apartment community in Austin. Located at 1500 Reagan Hill Drive in the city’s Northeast submarket, the property is in proximity to State Highway 183, State Highway 290 and Interstate 35. Andrew Shih and Matt Pohl of ARA represented the seller, Quez Capital, which purchased the garden-style complex in 2012 and upgraded cabinetry, flooring and appliances in many of the units, as well as the communal clubhouse, courtyards and building exteriors. A private investor based in Minnesota purchased the asset, which was 97 percent occupied at the time of the sale.
ARLINGTON, TEXAS — Bradford Commercial has brokered the sale of a 36,006-square-foot flex property in the Great Southwest industrial district of Arlington. Constructed in 1965, the building is located at 925 111th St., in close proximity to Interstate 30. Features of the asset include 16-foot clear heights, heavy power, three dock-high doors and two dock doors with levelers. Joe Santaularia, Kevin Santaularia and Michael Spain of Bradford represented the seller, Tennessee-based Dominion Enterprises. Michael Stanzel of NAI Robert Lynn represented the buyer, locally based Duralite Natural Stone LLC, which will occupy the facility within two months.
KATY, TEXAS — The Mission Companies, a construction firm, and management and consulting company Entrust Inc. have completed a two-story, 34,000-square-foot office building in the Houston suburb of Katy. Entrust has leased 69 percent of the Class A property to serve as a new corporate headquarters. Located at 22322 Grand Corner Drive, the 2.62-acre site is situated at the interchange of State Highway 99 and Westpark Tollway, as well as the master-planned communities of Cinco Ranch, Grand Lakes and Seven Meadows. Sam Hansen of NAI Houston is the leasing agent for the remaining suites available at the facility.
SCHERTZ, TEXAS — Stream Realty Partners has arranged the renewal of a 160,000-square-foot industrial lease at Tri-County Distribution Center in the northeast San Antonio suburb of Schertz. The tenant, Hollingsworth Logistics Group, occupies space in Building One of the Class A complex, which is located at 5925 Tri-County Parkway. Features at the building include 28-foot clear heights, recent exterior upgrades and proximity to Interstate 35. Jason Schnittger of Stream represented the landlord, CLPF – Tri County 1 LP, while Charlie Hargis of Endura Advisory Group represented Hollingsworth.
SAN ANTONIO — World Class Capital Group LLC has acquired Culebra Crossing, a 141,000-square-foot retail center in northwest San Antonio. The property, located on Culebra Road two miles north of Loop 410, was 93 percent occupied at the time of the sale. Anchors of the center include WellMed and Family Dollar. World Class Capital also acquired the site’s vacant pad sites as part of the purchase.