Texas

S2 Capital Acquires Place at Saddle Creek Apartments in Metro Dallas

by Taylor Williams August 12, 2024

CARROLLTON, TEXAS — Locally based investment firm S2 Capital has acquired The Place at Saddle Creek, a 238-unit apartment community located in the northern Dallas metro of Carrollton. According to Apartments.com, the property was built in 1983 and offers one- and two-bedroom units. Select residences feature modern finishes such as quartz countertops, stainless steel appliances, balconies, fireplaces and upgraded flooring. Amenities include a pool, fitness center, pickleball and tennis courts, outdoor grilling and dining stations, business center and a dog park. S2 Capital, which assumed the undisclosed seller’s existing fixed-rate loan, plans to continue with capital improvements and rebrand the property as Brookbend.

August 12, 2024

Acquisitions Retail Texas

STRIVE Arranges Sale of 57,612 SF Teas Crossing Shopping Center in Conroe, Texas

by Taylor Williams August 12, 2024

CONROE, TEXAS — Dallas-based investment sales brokerage firm STRIVE has arranged the sale of Teas Crossing, a 57,612-square-foot shopping center in Conroe, about 40 miles north of Houston. Built in 2008, the center was 70 percent leased at the time of sale to tenants such as Verizon Wireless, Benihana, Firehouse Subs and Massage Envy. Jake Dutson and Adam Gottschalk of STRIVE represented the seller, Houston-based development and investment firm Read King Commercial, in the transaction. John Harry of John Harry Realty Advisors represented the buyer, an undisclosed, Houston-based 1031 exchange investor.

August 12, 2024

Leasing Activity Office Texas

Coldwell Banker Negotiates 51,848 SF Office Lease in Downtown Amarillo

by Taylor Williams August 12, 2024

AMARILLO, TEXAS — Coldwell Banker Commercial First Equity has negotiated a 51,848-square-foot office lease in Amarillo. The 237,204-square-foot building at 701 S. Taylor St. is located in the downtown area. Rachel Shreffler of Coldwell Banker represented the landlord, an entity doing business as 1908 Properties LLC, in the lease negotiations. The name and representative of the tenant were not disclosed, but the space can support more than 300 employees.

August 12, 2024

Acquisitions Industrial Texas

Colliers Brokers Sale of 25,992 SF Industrial Building in Southwest Houston

by Taylor Williams August 12, 2024

HOUSTON — Colliers has brokered the sale of a 25,992-square-foot industrial building that sits on a 2.2-acre site in southwest Houston. According to LoopNet Inc., the single-tenant building at 4303 South Drive was constructed in 2006 and features 30-foot clear heights. Christopher Winters and Walter Menuet of Colliers represented the seller, Glenmorangie LLC, in the transaction. Michael Stavinoha with Dominion International Group | eXp Realty represented the undisclosed buyer.

August 12, 2024

Data Centers Development Industrial Texas Top Stories

Reports: City Council Approves $225M Data Center Project in Taylor, Texas

by Taylor Williams August 12, 2024

TAYLOR, TEXAS — The City Council of Taylor, a northern suburb of Austin, has approved a proposal and economic development agreement for a $225 million data center project, according to multiple publications, including the Austin Business Journal, Taylor Press and Community Impact Newspaper. Taylor Press reports that the city council approved the proposal during its meeting on Aug. 8, voting unanimously to grant tax rebates to Austin-based data center owner-operator BPP Projects. Taylor Press also reports that the project will be developed on 52 acres of city-owned land, and that construction will be carried out in three phases, each of which will deliver 45,000 square feet of space. Construction could begin as soon as next summer. Community Impact Newspaper reports that the city council approved a 10-year, 50 percent tax rebate for each phase of construction on the data center. In addition, the outlet states that BPP will also receive a 50 percent rebate on the local use tax collected on materials used during construction. Multiple publications report that the city’s economic development department expects the project to generate more than $1 billion in capital investment for the region over the next decade. The company has also agreed to guarantee …

August 12, 2024

Acquisitions Multifamily Texas

Decron Properties Acquires 334-Unit Citizen House Pflugerville Apartments in Metro Austin

by Taylor Williams August 9, 2024

PFLUGERVILLE, TEXAS — Los Angeles-based investment firm Decron Properties has acquired Citizen House Pflugerville, a 334-unit apartment community located on the northern outskirts of Austin. The garden-style property houses one- and two-bedroom units that are furnished with quartz countertops, stainless steel appliances, wood-style flooring and walk-in closets. The amenity package comprises a pool with a spa and cabanas, clubhouse with a demonstration kitchen and coffee bar, a two-level fitness center with virtual training capabilities, an outdoor entertainment lounge, package lockers and a dog park. The seller and sales price were not disclosed.

August 9, 2024

Acquisitions Multifamily Texas

Equity Residential Buys 324-Unit Apartment Community in Grapevine, Texas

by Taylor Williams August 9, 2024

GRAPEVINE, TEXAS — Chicago-based investment firm Equity Residential has purchased Marlowe Grapevine, a 324-unit apartment community located in the northern-central part of the Dallas-Fort Worth metroplex. The property was built on 15 acres in 2023. According to Apartments.com, Marlowe Grapevine features one-, two- and three-bedroom units that range in size from 705 to 1,693 square feet. Amenities include a pool, fitness center, clubhouse, lounge, spa and a pet play/washing area. Equity Residential purchased the property from a partnership between Greystar and Carlyle Group for an undisclosed price. Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill and Shelby Clark of Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the deal.

August 9, 2024

Acquisitions Multifamily Texas

KW Commercial Arranges Sale of 238-Unit Apartment Complex in Boerne, Texas

by Taylor Williams August 9, 2024

BOERNE, TEXAS — KW Commercial has arranged the sale of Legacy at Cibolo, a 238-unit apartment complex located in the northwestern San Antonio suburb of Boerne. Built in 2020, the property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, clubhouse, outdoor grilling and dining stations and access to walking trails. Greg Brownd of KW Commercial brokered the deal. The buyer and seller were not disclosed.

August 9, 2024

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 229-Unit Self-Storage Facility in Canton, Texas

by Taylor Williams August 9, 2024

CANTON, TEXAS — Marcus & Millichap has brokered the sale of Eason Storage, a 229-unit self-storage facility in Canton, about 60 miles east of Dallas. The facility, which was built on 4.7 acres in 2000 and expanded in 2017, consists of 39,265 net rentable square feet and comprises 20 climate-controlled units, 208 non-climate-controlled units and one rental house. Brandon Cunningham and Brandon Karr of Marcus & Millichap represented the seller in the transaction and procured the buyer, both of which requested anonymity.

August 9, 2024

Leasing Activity Office Texas

Noble Corp. Signs 110,250 SF Office Lease at CityWestPlace in West Houston

by Taylor Williams August 9, 2024

HOUSTON — Noble Corp. has signed a 110,250-square-foot office lease in West Houston. The global offshore drilling contractor is taking three floors at Building 1 at the 39-acre CityWestPlace, with occupancy slated for early 2025. Mark O’Donnell, Jim Bell and Jennifer Meehan of Savills represented the tenant in the lease negotiations. J.P. Hutcheson and Rima Soroka internally represented the owner, a partnership between Parkway and Midway.

August 9, 2024

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