HOUSTON — JLL has arranged a loan for the refinancing of a 4411 San Felipe, a 94,825-square-foot office building located in the River Oaks neighborhood of West Houston. Park House Houston, a private social club, anchors the seven-story building, which was built in 2021 and was fully leased at the time of the loan closing. John Ream and Cassie McIntosh of JLL originated the three-year, floating-rate loan, which has an initial financing of $33 million with additional future funding available, through Tannenbaum Capital Group. The borrower was an entity doing business as PH 4411 Houston RE Holdings.
Texas
HUTCHINS, TEXAS — Lineage Inc. (NASDAQ: LINE), a Michigan-based REIT focused on temperature-controlled warehouses, has broken ground on a cold storage facility in Hutchins, located south of Dallas. The square footage was not disclosed. The site is located within Prime Pointe Park, a 3,000-acre, rail-served master-planned development. The facility, which will feature a range of automated operations, including Lineage’s proprietary LinOS warehouse execution system, is expected to be operational in 2027.
FORT WORTH, TEXAS — Locally based brokerage firm LanCarte Commercial has negotiated the sale of a 31-acre multifamily development site in Fort Worth. The site is located at the northeast corner of Beach and East 1st streets on the city’s east side. The seller was not disclosed. The buyer, Phoenix-based developer NexMetro, plans to develop a 315-unit build-to-rent residential project on the site that will feature detached cottage-style homes arranged around landscaped courtyards, walking paths and open green spaces.
ADDISON, TEXAS — Avison Young has brokered the sale of Midway Office Park, a 53,673-square-foot office building located in the northern Dallas metro of Addison. Built on 2.7 acres in 1977 and renovated in 1998, the building was roughly 40 percent leased at the time of sale. Bruce Butler, Susan Gwin Burks and John Bowles of Avison Young represented the seller in the transaction. Taylor Stell of Lee & Associates represented the buyer, Urban Infraconstruction, which also plans to occupy a portion of the building.
HOUSTON — CUBExec has opened a 12,520-square-foot coworking space in Uptown Houston. The space spans the sixth floor of the building at 1700 Post Oak Blvd., which is known locally as BLVD Place., and features 50 private workspaces and collaborative meeting spaces that can accommodate up to 15 people. Houston-based Whitestone REIT owns BLVD Place.
HOUSTON — Atlanta-based investment firm MDH Partners has acquired a portfolio of nine industrial buildings totaling 563,343 square feet in northwest Houston. Two of the buildings are located at 7220 N. Sam Houston Parkway W, and the other seven buildings are located at 3403 N. Sam Houston Parkway W. The buildings were constructed between 2007 and 2013 and have an average suite size of 19,425 square feet. At the time of sale, the portfolio was 94 percent leased to 26 tenants. MDH Partners has tapped Stream Realty Partners as the new leasing agent. The seller and sales price were not disclosed.
LUBBOCK, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of Birchwood Apartments, a 236-unit complex in Lubbock. Built in 1977, Birchwood Apartments offers one-, two- and three-bedroom floor plans with an average size of 713 square feet. Amenities include a pool, fitness center, clubhouse, business center, onsite laundry facilities, a dog park, playground and outdoor grilling stations. Yonnic Land of TMG represented the seller, Benefit Street Partners, in the transaction. Jon Krebbs of TMG procured the undisclosed, out-of-state buyer.
EL PASO, TEXAS — Beverage supplier L&F Distributors has opened a 222,000-square-foot industrial facility in El Paso’s Lower Valley region. The distribution facility includes a warehouse with 34-foot clear heights and 18 loading docks (expandable to 27). The property also houses collaborative workspaces, a hospitality suite, a dedicated health and wellness center with an employee gym, a standalone vehicle maintenance facility and an onsite fueling station. Architecture firm HDA designed the project.
HOUSTON — JLL has brokered the sale of 5858 Westheimer, a 130,735-square-foot office building located in the Tanglewood area of West Houston. The eight-story building was constructed in 1981 and was 47 percent leased at the time of sale. Rick Goings and Dawson Hastings of JLL represented the seller, a special servicer, in the transaction. The buyer, an entity doing business as Geirin LandPark Westheimer LLC, plans to implement a value-add program that will upgrade the lobby, common areas, signage and spec suites.
FORT WORTH, TEXAS — Macro Air Technologies has signed a 54,600-square-foot industrial lease in South Fort Worth. The provider of residential and industrial fans is taking space at Fort Worth South Business Park, a two-building, 489,571-square-foot development. Kyle Pardon and Sam Welles of Altschuler & Co. represented the tenant in the lease negotiations. Matt Carthey and Trey Goodspeed of Holt Lunsford Commercial represented the landlord, Cohen Asset Management.