Texas

Greystone Provides $32.2M Agency Loan for Refinancing of Metro Houston Apartments

by Taylor Williams May 12, 2023

HUMBLE, TEXAS — Greystone has provided a $32.2 million Fannie Mae loan for the refinancing of The Villas at Foxbrick, a 412-unit apartment community located in the northern Houston suburb of Humble. Built in 2004, the property offers one- and two-bedroom units. According to Apartments.com, amenities include a pool, fitness center, courtyard and package locker service. Anthony Cristi of Greystone originated the financing. Gregory Vassilakos of Cosmos Capital Group served as the loan arranger and correspondent. The borrower was not disclosed.

May 12, 2023

Leasing Activity Lee & Associates Office Texas

Lee & Associates Negotiates 75,000 SF Office Lease at Republic Square in West Houston

by Taylor Williams May 12, 2023

HOUSTON — Lee & Associates has negotiated a 75,000-square-foot office lease at Republic Square, a 35-acre, newly renovated campus located along the Katy Freeway in West Houston. According to LoopNet Inc., Republic Square was built in 1980, renovated in 2020 and totals 324,546 square feet. Bill Insull and Blake Virgilio of Lee & Associates, along with internal agent Jon Herbster, represented the landlord, Houston EC Development LLC, in the lease negotiations. Bob Cromwell and Bob Gulley of Moody Rambin, in conjunction with Zack Taylor of Colliers, represented the tenant, Fugro, which provides geotechnical surveying services.

May 12, 2023

Acquisitions Industrial Texas

Partners Real Estate Brokers Sale of 25,000 SF Industrial Building in Metro Houston

by Taylor Williams May 12, 2023

TOMBALL, TEXAS — Partners Real Estate has brokered the sale of a 25,000-square-foot industrial building located in the northern Houston suburb of Tomball. The building, which sits on 6.7 acres at 1302 S. Cherry St., was built in 1980 and features 30-foot clear heights, according to LoopNet Inc. Wyatt Huff and Cary Latham of Partners represented the seller, an entity doing business as Timber Trails Business Park LLC, in the lease negotiations. The duo also procured the buyer, Harbor Hill Holdings.

May 12, 2023

Leasing Activity Retail Texas

LanCarte Commercial Arranges Four Retail Leases Totaling 19,745 SF in Fort Worth

by Taylor Williams May 12, 2023

FORT WORTH, TEXAS — Locally based brokerage firm LanCarte Commercial has arranged four retail leases totaling 19,745 square feet at Westcliff Shopping Center in Fort Worth. New tenants at the property include skateboarding and specialty apparel retailer Cowtown, Specialist Jewelry Clinic, Fort Worth Dance Academy and Organized Nest, a boutique professional services company. Ben Gehrke and Riley Dow of LanCarte represented the landlord, CTO Realty Growth Inc., in the lease negotiations.

May 12, 2023

Development Industrial Texas Top Stories

Scarborough Lane, Partners Real Estate Unveil Plans for 2,000-Acre AXIS Logistics Park in San Marcos, Texas

by Jeff Shaw May 12, 2023

SAN MARCOS, TEXAS — Texas-based Scarborough Lane Development and Partners Real Estate have announced plans for AXIS Logistics Park, a 2,000-acre industrial park in San Marcos. Formerly known as SMART Terminal, the property site is within the Texas Triangle, an urban region consisting of the Dallas-Fort Worth, Houston, San Antonio and Austin metropolitan areas. A development timeline for the park was not disclosed. However, approximately 735 acres of the park are currently zoned for industrial use. The property will include water and wastewater infrastructure, as well as a high-voltage (600 megawatt) electric system with a 356 kilovolt transmission line. The site’s location is near Loop 110, I-35, I-10 and SH-130. Union Pacific Railway, The BNSF Railway and the San Marcos Regional Airport are also adjacent to the property and may provide rail and shipping components to the park. “In addition to being in a strategically ideal location to serve the Texas Triangle, AXIS Logistics Park is the obvious choice for logistics and shipping by national and international manufacturers,” says John Colglazier, a partner at Partners Real Estate. “Mexico is actively working to bring manufacturing back in their country, and they will fully utilize I-35 as their main corridor through Texas …

May 12, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 2,627-Unit Self-Storage Portfolio in Southeast Texas

by Taylor Williams May 11, 2023

BEAUMONT AND NEDERLAND, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of seven self-storage facilities totaling 2,627 units in southeast Texas. The properties were constructed in the 1970s and 1980s and total 389,501 net rentable square feet. Two of the properties are located in Beaumont, and two are located in Nederland, with the other facilities located in Groves, Bridge City and Orange. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a California-based liability company that purchased the portfolio in 2018, in the transaction. The duo also secured the buyer, a North Carolina-based limited liability company.

May 11, 2023

Acquisitions Multifamily Texas

Magma Equities, Macquarie Acquire 285-Unit Apartment Community in Arlington

by Taylor Williams May 11, 2023

ARLINGTON, TEXAS — A joint venture between Southern California-based investment firm Magma Equities and a fund backed by Macquarie Asset Management has acquired Bardin Greene, a 285-unit apartment community in Arlington. Built in 2001, the property comprises 18 two-story buildings that house one-, two- and three-bedroom units on a 16-acre site. The amenity package consists of a pool, fitness center, business center, volleyball court, courtyard with a children’s play area, resident clubhouse and onsite laundry facilities. Brian Eisendrath of Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged acquisition financing for the deal through Los Angeles-based PCCP LLC. Moody National Cos. sold the asset off-market for an undisclosed price. The new ownership plans to implement a value-add program.

May 11, 2023

Industrial Leasing Activity Texas

Cummins Clean Fuel Technologies Signs Industrial Lease Expansion at AllianceTexas

by Taylor Williams May 11, 2023

ROANOKE, TEXAS — Cummins Clean Fuel Technologies has signed an industrial lease expansion at AllianceTexas, Hillwood’s 27,000-acre master-planned community on the north side of Fort Worth. The provider of natural gas delivery systems is expanding its manufacturing operations, bringing its footprint at 1051 Republic Drive in Roanoke to roughly 160,000 square feet. Michael Haggar and John Worthen of JLL represented Cummins in the lease negotiations. Samuel Rhea and Reid Goetz represented Hillwood on an internal basis.

May 11, 2023

Industrial Loans Northmarq Texas

Northmarq Arranges Acquisition Loan for 90,029 SF Industrial Building in Northeast Houston

by Taylor Williams May 11, 2023

HOUSTON — Northmarq has arranged an acquisition loan of an undisclosed amount for a 90,029-square-foot industrial building located at 8950 Railwood Drive in northeast Houston. Built in 1989, the single-tenant building features 21-foot clear heights, 11 exterior docks and 18,500 square feet of office space. Blane Eikenhorst and Tony Gray of Northmarq arranged the nonrecourse, fixed-rate loan, which was structured with a 10-year term and a 75 percent loan-to-value ratio, through Ameritas Investment Partners. The borrower/owner-occupant was not disclosed.

May 11, 2023

Industrial Leasing Activity Texas

Intac Supply Signs 18,000 SF Industrial Lease in Northwest Houston

by Taylor Williams May 11, 2023

HOUSTON — Intac Supply, a provider of HVAC equipment, has signed an 18,000-square-foot industrial lease at 6600 Long Point Road in northwest Houston. Toronto-based Agellan Commercial REIT owns the 139,116-square-foot building, which was originally built in 1979. Matt Rogers of Oxford Properties represented Intac Supply in the lease negotiations. Carter Holmes of Holt Lunsford represented the landlord.

May 11, 2023

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