Texas

SPI Advisory Acquires 244-Unit Parkview Terraces Apartments in South Austin

by Taylor Williams August 31, 2023

AUSTIN, TEXAS — Texas-based private equity firm SPI Advisory has acquired Parkview Terraces, a 244-unit apartment community in South Austin. The property was originally developed in 2009 as Cortland Southpark Terraces and was recently renovated. According to Apartments.com, Parkview Terraces features one-, two- and three-bedroom units that range in size from 700 to 1,348 square feet and amenities such as two pools, a clubhouse, fitness center, business center, outdoor grilling and dining stations and a dog park. The seller and sales price were not disclosed. Fritz Waldvogel of Colliers Mortgage originated an undisclosed amount of Fannie Mae acquisition financing for the deal.

August 31, 2023

Affordable Housing Loans Multifamily Texas

Amegy Bank Provides $25M Construction Loan for Houston Affordable Housing Project

by Taylor Williams August 31, 2023

HOUSTON — Regional lender Amegy Bank has provided a $25 million construction loan for NHH Berry, a 180-unit affordable housing project that will be located in Houston’s Third Ward. The property will offer one-, two- and three-bedroom units that will be reserved for low- to moderate-income residents and amenities such as a community kitchen, lounge, library and meeting/social service offices. The building will also house a preschool that residents’ children can attend free of charge. The borrower is New Hope Housing. Construction is scheduled to begin in October and to be complete in summer 2025.

August 31, 2023

Industrial Leasing Activity Texas

Sungrow USA Signs 179,534 SF Industrial Lease in North Houston

by Taylor Williams August 31, 2023

HOUSTON — Sungrow USA Corp., a division of Chinese solar technology company Sungrow, has signed a 179,534-square-foot industrial lease at Rankin 45 Distribution Center in North Houston. The cross-dock building features 32-foot clear heights, an ESFR sprinkler system, four drive-up ramps and parking for 259 cars and 23 trailers. Michael Foreman and Beau Kaleel of Cushman & Wakefield represented Sungrow USA in the lease negotiations. Joseph Smith and Faron Wiley of CBRE represented the landlord, a joint venture between Trammell Crow Co. and Clarion Partners.

August 31, 2023

Industrial Leasing Activity Texas

Finial Group Negotiates 58,016 SF Industrial Lease Renewal in Arlington

by Taylor Williams August 31, 2023

ARLINGTON, TEXAS — Houston-based brokerage firm Finial Group has negotiated a 58,016-square-foot industrial lease renewal at 626 106th St. in Arlington. According to LoopNet Inc., the building was constructed on 2.4 acres in 1970 and features 19-foot clear heights. John Buckley, Jack Gaffney and Nicky Manasso of Finial Group represented the undisclosed landlord in the lease negotiations. John Brewer and Riley Maxwell of Transwestern represented the tenant, Iron Mountain Information Inc.

August 31, 2023

Acquisitions Retail Texas

JLL Arranges Sale of 40,589 SF Shopping Center in Rowlett, Texas

by Taylor Williams August 31, 2023

ROWLETT, TEXAS — JLL has arranged the sale of Lake Pointe Market, a 40,589-square-foot shopping center in Rowlett, a northeastern suburb of Dallas. The center was 97 percent leased at the time of sale to tenants such as PetCo, DCP Equity Partners, Burger Island, OneMain Financial, Bank of America, Verizon Wireless and SuperCuts. Adam Howells, Chris Gerard and Megan Babovec of JLL represented the seller, Main Street Investment Co., in the deal and procured Ohio-based retail REIT Phillips Edison & Co. as the buyer.

August 31, 2023

Development Life Sciences Texas Top Stories

Texas Woman’s University to Break Ground on $107M Health Sciences Center in Denton, Texas

by Jeff Shaw August 31, 2023

DENTON, TEXAS — Texas Woman’s University (TWU) will break ground on a $107 million health sciences center in Denton on Friday, Sept. 15. The 136,000-square-foot facility will serve students in the allied healthcare fields such as nursing, physical therapy and occupational therapy. TWU states the goal of the center is to graduate 30 percent more nursing and healthcare professionals, with a special emphasis on preparing students to serve in rural settings. The new health sciences center will be constructed on seven acres adjacent to Parliament Village, a TWU residential complex housing 872 students. Plans for the facility include laboratory space, classrooms, collaborative workspaces, outdoor clinic sites and a teaching kitchen, as well as community healthcare clinics and training areas for students. Alongside the groundbreaking, TWU will launch the public phase of the $125 million Dream Big Campaign. This is TWU’S first comprehensive fundraising campaign. The Dream Big Campaign is intended to commemorate university’s 125th anniversary in 2026. TWU is a public university that was established in 1901. The university’s main campus is in Denton, with additional health science centers in Dallas and Houston. While TWU admitted its first male students in 1972 and has been fully co-educational since 1992, the school is …

August 31, 2023

Development Industrial Texas

Baltisse, Ackerman Complete 307,000 SF Industrial Project Near San Antonio

by Taylor Williams August 30, 2023

SCHERTZ, TEXAS — Atlanta-based developer Ackerman & Co., in partnership with Baltisse US Inc., has completed Doerr Lane Logistics Center, a 307,000-square-foot industrial project in Schertz, a northeastern suburb of San Antonio. The Class A, tilt-wall distribution center features 32-foot clear heights, 78 overhead dock doors, an ESFR sprinkler system and parking for 318 automobiles and 96 trailers. Beaty Palmer Architects designed the project, and Kopplow Construction served as the general contractor. Partners Real Estate is the leasing agent.

August 30, 2023

adjacent to the Fort Worth Alliance Airport, with immediate access to State Road 114 and I-35.

Acquisitions Industrial Texas

Victaulic Acquires 213,581 SF Industrial Property in Fort Worth

by Taylor Williams August 30, 2023

FORT WORTH, TEXAS — Victaulic, a producer of piping and fire protection products, has acquired a 213,581-square-foot, newly built industrial property in Fort Worth. The developer, Stonemont Financial Group, broke ground on the project in late 2021 with plans to deliver a speculative facility. Victaulic approached Stonemont several months into construction to purchase the shell, which the company then designed and built out to its specifications. Trey Fricke of Lee & Associates represented Victaulic in the acquisition of the property, which features 98 parking spaces, 35 trailer stalls and 38 dock doors. Ann Jaggars and Tony Creme of KBC Advisors represented Stonemont.

August 30, 2023

Acquisitions Retail Texas

STRIVE Arranges Sale of 13,910 SF Retail Strip Center in Arlington

by Taylor Williams August 30, 2023

ARLINGTON, TEXAS — Dallas-based investment sales brokerage firm STRIVE has arranged the sale of College Crossing, a 13,910-square-foot retail strip center in Arlington. Hudson Lambert of STRIVE represented the seller and procured the buyer, both of which were locally based entities that requested anonymity, in the transaction. The center was fully leased at the time of sale to tenants such as Caress Dental, Soleil Cutz, Crown’s BBQ and Foxi Nails.

August 30, 2023

Acquisitions Office Texas

Newcor Negotiates Sale of 8,300 SF Office Building in Spring, Texas

by Taylor Williams August 30, 2023

SPRING, TEXAS — Locally based brokerage firm Newcor Commercial Real Estate has negotiated the sale of an 8,300-square-foot office building located at 26414 Oak Ridge Drive in the northern Houston suburb of Spring. According to LoopNet Inc., the property was built in 1971 and renovated in 2022. Ryan Dierker of Newcor represented the owner and former occupant, TruRealty Properties, in the transaction. Adriatico Group represented the buyer, Voss Law.

August 30, 2023

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