SAN ANTONIO — Austin-based brokerage firm Hunington Properties has arranged the sale of a 12,100-square-foot retail building in San Antonio. The building was constructed in 2021 and was fully leased to Action Behavior Center at the time of sale. Gigi Gomel of Hunington Properties represented the seller, a Houston-based limited liability company, in the transaction. Luis Garza of Transwestern represented the Alaska-based buyer. The sales price was not disclosed, but the deal traded at a cap rate of 5 percent.
HOUSTON — Locally based developer Sueba USA will build San Paseo, a 292-unit multifamily project that will be located just off Grand Parkway in West Houston. The community will offer 272 apartments in studio, one-, two- and three-bedroom floor plans, as well as 20 townhomes. Apartments will range in size 496 to 2,088 square feet and will feature stainless steel appliances, tile backsplashes and full-size washers and dryers. Private patios/balconies will also be available in select units. Townhomes will come in three-bedroom formats and will feature attached garages. Amenities will include a pool, spa, fitness center and an internet café. Construction will begin later this year, with preleasing set to commence in March 2024.
HOUSTON — Locally based brokerage firm Finial Group has negotiated a 244,550-square-foot industrial lease at 121 Esplanade Blvd. in North Houston. The tenant, Maxam Tire North America, a global distributor of specialty tires, plans to occupy the entirety of the facility. Jack Gaffney and William Alcorn of Finial Group represented Maxam Tire in the lease negotiations. Richard Quarles, Joseph Berwick and Eliza Klein of JLL represented the landlord, Pennsylvania-based Equus Capital Partners.
SCHERTZ, TEXAS — UPS Supply Chain Solutions has signed a 175,562-square-foot lease at Enterprise Industrial Park in Schertz, a northeastern suburb of San Antonio. John Colglazier, Carlos Marquez and Kyle Kennan of Partners represented the landlord, institutional investment firm BentallGreenOak, in the lease negotiations. Dallas-based brokerage firm ESRP represented the tenant, which will occupy the entirety of Building VII.
ATHENS, TEXAS — Self-storage brokerage firm Versal has arranged the sale of West Loop Storage, a 162-unit facility in Athens, about 70 miles southeast of Dallas. The property, which includes a 2.6-acre parcel for future expansion, was built in 2013 and totals 29,000 net rentable square feet of non-climate-controlled space. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller and procured the buyer, both of which were Texas-based limited liability companies, in the transaction.
THE WOODLANDS, TEXAS — Houston-based brokerage firm Cypressbrook Co. has negotiated the sale of a 39,000-square-foot office building located on Houston’s northern outskirts in The Woodlands. According to LoopNet Inc., the property was built in 1981. John Hornbuckle of Cypressbrook, along with Rick Hazard of Realty Services Group, represented the seller, Woodmark Capital, in the transaction. Will Austin of Bridge Commercial represented the buyer, Milner Properties.
TEXAS CITY, TEXAS — Marcus & Millichap has brokered the sale of Smart Self Storage, an 281-unit facility in Texas City, about 45 miles southeast of Houston. The facility was built in and totals 29,549 net rentable square feet across 204 climate-controlled and 77 non-climate-controlled units. Dave Knobler, Jon Danklefs, Ray Kang and Brad Weigel of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The team also procured the buyer, a publicly traded REIT. Both parties requested anonymity.
SAN ANTONIO — South Carolina-based investment firm Blaze Capital Partners has acquired Sage Stone Oak, a 150-unit active adult community in San Antonio. The property was built in 2020 on a 7.5-acre site on the city’s north side. Units come in one- and two-bedroom floor plans and range in size from 829 to 1,172 square feet. Residences feature granite countertops, individual washers and dryers and private balconies/patios. Amenities include a pool, clubhouse, fitness center, library, media and game room and two dog parks. The seller and sales price were not disclosed.
CONROE, TEXAS — Grace Management has broken ground on The Lakes at Woodhaven Village, a 115-unit active adult complex in Conroe, located about 40 miles north of Houston. The project, which is being developed on a five-acre plot adjacent to the 2,000-acre Grand Central Park master-planned community, is slated for a spring 2024 completion. Project partners include developer Padua Realty Co. and affiliated construction company Dorado Builders, Investwell Architects, Lizabeth Jones Interior Design and Jordan & Skala Engineers.
MANSFIELD, TEXAS — Rethink Healthcare Real Estate, a New York-based investment firm, has purchased a 36,101-square-foot emergency hospital located in the southern Fort Worth suburb of Mansfield. Emerus operates the facility, which opened about seven years ago. Rethink acquired the property in a joint venture with global investment management firm Heitman. An affiliate of First Citizens Bank provided acquisition financing for the deal, which was arranged by BlackBirch Capital.