IRVING, TEXAS — A joint venture between shopping center owner-operator Edens and CBRE Investment Management has purchased MacArthur Park, a 425,612-square-foot retail power center in Irving. Target, Kroger, Office Depot, T.J. Maxx, Michaels, Ross Dress for Less and Ulta Beauty serve as the anchor tenants at the center, which was built in 2001 and is located at the intersection of I-635 and the George Bush Turnpike. The seller and sales price were not disclosed.
SAN ANTONIO — Dallas-based developer RightQuest Residential has sold Eleven West Luxury Apartments, a 264-unit multifamily community that is located on a 13-acre site on the west side of San Antonio. Designed by Cross Architects and built by Houston-based Nations Construction, the newly constructed property offers one- and two-bedroom units that are furnished with granite countertops, walk-in closets and individual washers and dryers. Private balconies/patios are available in select residences. Amenities include a pool, fitness center, business center, clubhouse, dog park and onsite storage facilities. CBRE brokered the sale on behalf of RightQuest Residential. The buyer and sales price were not disclosed.
HOUSTON — Marcus & Millichap has brokered the sale of AA Storage at Ruland Road, a 262-unit self-storage facility located about 10 miles west of downtown Houston. Built in 1971 and renovated multiple times in the ensuing decades, AA Storage at Ruland Road comprises five buildings on a 2.3-acre site. The unit mix consists of 112 climate-controlled spaces, 143 non-climate-controlled spaces and seven office spaces for a total of 49,539 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
SAN ANTONIO — A partnership between OCI Development, Atlantic Pacific Cos. and Opportunity Home San Antonio has broken ground on Vista at Silver Oaks, a 76-unit affordable housing project that will be located on the city’s north-central side. Residences will feature two- and three-bedroom layouts and will be entirely reserved for renters earning 60 percent or less of the area median income. In addition to business and fitness centers, residents will have access to services such as monthly social events, tax preparation classes, health and wellness programming and afterschool care. PNC Bank and Stellar Bank both contributed to the financing of the project, specifics of which were not disclosed. Delivery is slated for summer 2024.
PFLUGERVILLE, TEXAS — Spec’s Wine, Spirits & Finer Foods has signed a 30,000-square-foot retail lease at Stone Hill Town Center in the northern Austin suburb of Pflugerville. The retail power center is located at the intersection of State Highways 130 and 45 and is home to tenants such as Super Target, Ross Dress for Less, Dick’s Sporting Goods, Best Buy, Cinemark Theaters, 24 Hour Fitness and St. David’s Healthcare. Josh Friedlander and Kevin Sims of NewQuest Properties internally represented the landlord in the lease negotiations. Dawn Hilty of SFP Brokerage LLC represented the tenant.
HOUSTON — NewPoint Real Estate Capital has provided a Freddie Mac loan of an undisclosed amount for the refinancing of Stadia Med Main, a 338-unit apartment community in Houston’s Medical Center/West University submarket. Built in 2020, Stadia Med Main offers one- and two-bedroom units and amenities such as a clubhouse, game room, fitness center, business center, pool, outdoor lounge areas and a dog park. Barry Lefkowitz of Meridian Capital Group arranged the seven-year, fixed-rate loan, which retires the loan that the borrower, Aspen Oak Capital Partners, used to acquire the asset in 2022. Stadia Med Main was 95 percent occupied at the time of the loan closing.
HOUSTON — Marcus & Millichap has brokered the sale of Holliday Boat & RV Storage, a 292-unit facility that is situated on a two-parcel, 5.2-acre site in Houston. The property, which was constructed in phases between 1990 and 1994, consists of 243 non-climate-controlled units and 49 outdoor parking spaces for a total of 73,993 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, a private investor, in the transaction and procured the buyer, a Texas-based limited liability company. Both parties requested anonymity.
IRVING, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of a 50,769-square-foot industrial building located at 1440 Corporate Drive in Irving’s Las Colinas district. At the time of sale, the building was fully leased to JVCKenwood, a Japanese multinational electronics company. Parker Tims and Jennifer Pierson of STRIVE represented the seller, a Pennsylvania-based investor, in the transaction. The buyer and sales price were not disclosed.
MANSFIELD, TEXAS — Flix Brewhouse has signed a 15-year lease to open a 40,000-square-foot theater at The Shops at Broad, a retail center located in the southern metroplex suburb of Mansfield. Scheduled to open this fall, the venue will feature nine auditoriums and offer in-theater dining service. Sam Kartalis of Younger Partners and John Weber of Weber & Co. negotiated the lease on behalf of the landlord, Trez Capital. The venue will be the fifth in Texas and 10th nationwide for Flix Brewhouse.
MISSOURI CITY, TEXAS — Partners Real Estate has negotiated a 15,000-square-foot industrial lease in the southwestern Houston suburb of Missouri City. According to LoopNet Inc., the property at 1519 Industrial Drive was built in 2019 and features 28-foot clear heights and 2,000 square feet of office space. Darren O’Conor of Partners represented the landlord, Bison Warehouse LLC, in the lease negotiations. The tenant was nutritional supplements provider Ekkovision LLC.
