HOUSTON — Dallas-based Henry S. Miller Brokerage (HSM) has arranged the sale of a 32,886-square-foot warehouse in northwest Houston. According to LoopNet Inc., the property at 3724 Dacoma St. was built in 1976. Bill Bledsoe of HSM represented the buyer, an affiliate of Grubbs Volvo Cars Central Houston, in the transaction. Heath Donica and Jack Rathe of Stream Realty Partners represented the seller, an entity doing business as 3724 Dacoma Partners Ltd. The buyer will use the property to facilitate its expansion.
Fiber networks built with multifamily properties in mind offer network resilience while maximizing ROI for owners and operators. Well-constructed fiber networks are at the heart of meeting and exceeding residents’ growing Internet needs, especially when work-from-home culture and the constant need for online connection have made Internet slowdowns and downtime unacceptable for end users. Fiber can also strengthen connectivity across multifamily properties, shoring up the Wi-Fi services residents have come to know and on which they’ve come to depend. How does a national fiber network integrate with multifamily properties? By focusing just on the needs of the multi-dwelling unit (MDU). “Instead of building out 200-mile routes of duct and fiber, we build out ‘miracle miles’ in densely populated MDU areas. From that point, we’re able to easily grow or expand out from that area,” says Michael O’Linc, president of fiber services & campus communications at Pavlov Media. O’Linc stresses the importance of a more planned, methodical approach for MDUs. A network that serves multifamily buildings must be a network focused on backups and fail safes. The “miracle mile” method creates a main line with laterals — creating a ring shape as it expands. This approach to fiber makes networks easier to …
SAN ANTONIO — Marcus & Millichap has arranged the sale of a portfolio of five self-storage facilities totaling 768 units throughout the greater San Antonio area. The portfolio totals 94,517 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a locally based private investor, in the transaction. The duo also procured the buyer, a limited liability company based in the Northeast. Both parties requested anonymity.
GRAND PRAIRIE, TEXAS — Houston-based investment firm Venterra Realty has acquired Mission Mayfield Downs, a 258-unit apartment community in Grand Prairie, located roughly midway between Dallas and Fort Worth. Built in 2002, the property features one-, two- and three-bedroom units ranging in size from 677 to 1,252 square feet. Amenities include a pool, fitness center, dog park and a coffee bar. The seller was not disclosed. Venterra plans to implement a value-add program.
FORT WORTH, TEXAS — Fort Worth-based Empire Holdings has sold five Texas industrial properties totaling 241,114 square feet. The properties range in size from 16,000 to 149,415 square feet and are located in Fort Worth, Houston, metro Austin and San Antonio. Philadelphia-based Arden Logistics Properties purchased the assets as part of a larger portfolio deal for an undisclosed price. Seth Koschak and Jeff Rein of Stream Realty Partners, along with Zach Harris and Jeff Hughes of Stan Johnson Co., brokered the deal.
SAN ANTONIO — Houston-based investment firm Fuller Realty Interests has purchased Parkway Plaza, a 189,390-square-foot office complex located adjacent to San Antonio International Airport. The complex comprises five single-story buildings that were constructed between 1999 and 2002. Bryan Leonard of Northmarq arranged an undisclosed amount of acquisition financing through a regional bank on behalf of Fuller Realty Interests. The seller was not disclosed.
HOUSTON — Edens has added five new tenants at Uptown Park in Houston. Lombardi Cucina Italiana will open a 9,350-square-foot restaurant; Polestar, a Swedish electric car brand, will occupy 3,420 square feet; and GLOSSLAB, a membership-based nail salon, will occupy 972 square feet. Rocambolesc, an ice cream shop, opened at the retail center earlier this year, and fertility and reproductive health clinic kindbody also recently opened a 5,360-square-foot facility at Uptown Park.
By Cody Roskelley, senior developer at Pennrose Texas has experienced tremendous residential growth over the last few years. Families are leaving high-cost, high-tax areas like New York and California for more affordable alternatives. According to The Tax Foundation, Texas was one of the Top 10 U.S. states for inbound migration in 2021, posting population growth around 1.3 percent on a year-over-year basis. With population increase also comes opportunities for economic growth and regional investment. However, having high-quality, affordable and workforce housing stock is key to the state successfully capitalizing on this moment. Between historically high rates of inflation and single-family home prices, as well as aggressive interest rate hikes, having the affordable housing infrastructure in place to attract new residents is critical. While most people generally agree that there is a need for more affordable housing, there is often local pushback once such communities are proposed in their neighborhoods. Much of the opposition stems from a lack of understanding of what affordable housing is — and isn’t. For example, individuals making anywhere between 30 to 80 percent of the area median income (AMI) can qualify for affordable housing. There are also several different subcategories of affordable housing: Low-Income Public Housing: …
TULSA, OKLA. — Denver-based investment firm VanWest Partners has acquired two self-storage facilities in Tulsa in off-market transactions. Combined, the facilities span more than 140,000 net rentable square feet across some 950 units, including outdoor parking/storage spaces. Both facilities were approximately 95 percent occupied at the time of sale. The seller and sales price were not disclosed. The new ownership is planning a capital improvement program that will include new gate and camera systems, door replacements and roof and asphalt upgrades.
AUSTIN, TEXAS — California-based investment firm ASAP Holdings Inc. has purchased a former Crowne Plaza hotel in Austin with plans to convert the 293-room property into a Delta Marriott hotel. The seller, Lockwood Development Partners, purchased the asset in 2021 as part of a 10-property portfolio sale. The hotel was originally constructed in 1977. Eddy Nevarez of Marcus & Millichap represented both parties in the deal.