Texas

Selma-Industrial-Park-Building-2

SELMA, TEXAS — Westport Axle Co., a provider of automotive assembly services, has signed a 115,760-square-foot industrial lease at Building 2 at Selma Industrial Park, located on the northeastern outskirts of San Antonio. Delivered in July 2022, Selma 2 is a 305,760-square-foot, cross-dock facility that features  36-foot clear heights, 74 dock-high doors and four drive-in ramps. Jon Dandurand with Burr & Temkin represented the tenant in the lease negotiations. John Colglazier, Carlos Marquez and Kyle Kennan of Partners Real Estate represented the landlord, a partnership between Titan Development and Atlanta-based Robinson Weeks Partners.

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The-Johnny-Austin

AUSTIN, TEXAS — Locally based developer The Geyser Group is nearing completion of The Johnny, a 76-unit multifamily project in Central Austin. Geyser Group is developing the project in partnership with The Sephira Group. Units come in studio, one- and two-bedroom formats and are furnished with quartz countertops, stainless steel appliances and individual washers and dryers. In addition, 16 of the residences are reserved for renters earning 60 percent or less of the area median income. Communal amenities include a fitness center and a rooftop deck with an outdoor kitchen. Full completion is slated for April.

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Henley-Riverside-Apartments-Austin

AUSTIN, TEXAS — Newmark has brokered the sale of Henley Riverside, a 368-unit apartment community in East Austin. The mid-rise property offers one-, two- and three-bedroom residences, with private patios and balconies available in select units. Amenities include a pool, fitness center and an outdoor kitchen and gaming area. Patton Jones and Andrew Dickson of Newmark represented the seller, an affiliate of Treeline Real Estate Partners, in the transaction to an undisclosed buyer. Henley Riverside was 92 percent occupied at the time of sale.

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Vault-Distribution-Center-Houston

HOUSTON — Locally based developer Vault Partners has begun construction on a 185,250-square-foot warehouse and distribution center in South Houston. The rear-load building will be divisible up to 40,000 square feet and will feature 32-foot clear heights, 34 dock-high doors, two drive-in ramps, and parking spaces for 137 vehicles and 23 trailers. Stream Realty Partners has been tapped as the leasing agent. Shell delivery of the building is scheduled for the fourth quarter.

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AUSTIN, TEXAS — Lument has provided a $17.4 million Fannie Mae loan for the refinancing of Riverside Meadows, a 240-unit affordable housing complex in Austin. The 10-building community was constructed on 14.5 acres in 2002. Steve Beltran of Lument originated the financing, which was structured with a 10-year term, fixed interest rate and a 30-year amortization schedule. The undisclosed borrower plans to use a portion of the proceeds to fund capital improvements to the unit interiors, building exteriors and common areas.

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STEPHENVILLE, TEXAS — Partners Real Estate has negotiated the sale of a 10,200-square-foot retail property in Stephenville, about 70 miles southwest of Fort Worth. The property was fully leased to Family Dollar at the time of sale. Landan Dory of Partners represented the buyer, private investor Perry Lewis, in the transaction. Craig Fuller of Marcus & Millichap represented the undisclosed seller.

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COPPELL, FORNEY AND FORT WORTH, TEXAS — Firehouse Subs has signed three leases totaling 4,149 square feet in the Dallas-Fort Worth metroplex. The fast-casual chain will occupy 1,649 square feet at Heritage Trace in Fort Worth, 1,300 square feet at Victory at Forney and 1,200 square feet at Braewood Shopping Center in Coppell. Grant Gary and Kendall Graff of The Woodmont Co. represented Firehouse Subs in the lease negotiations. Based in Jacksonville, Firehouse Subs operates 1,210 restaurants in 46 states, Puerto Rico and Canada.

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DALLAS — Marcus & Millichap has brokered the sale of a portfolio of three multifamily properties totaling 782 units in the Dallas area. Mercer Park is a 248-unit property in  Arlington that was built in 1984. Timber Oaks in Grand Prairie, which was constructed in 2003, totals 264 affordable housing units, and Plum Meadow, located in the Redbird area of Dallas, consists of 270 market-rate units that were completed in 1984. Wesley Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller, NeuRock Capital, in the transaction. Additional terms of sale were not disclosed.

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Canopy-at-South-Lakes-Denton

DENTON, TEXAS — SPI Advisory, a private equity firm with offices in Dallas and Austin, has sold Canopy at South Lakes, a 240-unit apartment community in the North Texas city of Denton. Residences come in one-, two- and three-bedroom floor plans and are furnished with stainless steel appliances, walk-in closets, full-size washers and dryers and private balconies/patios. Amenities include a pool, volleyball court, clubhouse, coffee bar and a package locker system. SPI Advisory acquired the property in February 2021 and implemented a value-add program. Drew Kile, Taylor Hill, Michael Ware and Will Balthrope of Institutional Property Advisors, a division of Marcus & Millichap, represented SPI Advisory in the deal. The team also procured the buyer, Bridwell Capital.

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Village-on-the-Park-Onion-Green-Austin

AUSTIN, TEXAS — CBRE has provided an $18.2 million Freddie Mac loan for the refinancing of Village on the Park Onion Creek, a 124-unit seniors housing community in Austin. The borrower is Bridgewood Property Co. Operated by The Aspenwood Co., the property sits on nine acres and predominantly offers independent living services. Aron Will, Tim Root and Michael Cregan of CBRE arranged the 10-year, floating-rate loan, which carried five years of interest-only payments.

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