REBusinessOnline

Marcus & Millichap Brokers Sale of 194-Unit Self-Storage Facility in New Braunfels, Texas

NEW BRAUNFELS, TEXAS — Marcus & Millichap has brokered the sale of Brauntex Storage, a 194-unit self-storage facility that sits on 2.5 acres on the northeastern outskirts of San Antonio. Dave Knobler and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The duo also procured the buyer, a New York-based investment firm. Both parties requested

NewcrestImage Buys 175-Room Cambria Hotel Southlake DFW

SOUTHLAKE, TEXAS — Locally based hospitality investment firm NewcrestImage has purchased the 175-room Cambria Hotel Southlake DFW. The property was built in 2016 and is located roughly six miles from Dallas-Fort Worth International Airport. Amenities include an outdoor pool and game area, fitness center, business center, convenience market, lounge and a fine dining restaurant. The seller and sales price were not

PGIM Real Estate Provides $77M Acquisition Loan for New Austin Office Building

AUSTIN, TEXAS — PGIM Real Estate has provided a $77 million acquisition loan for Centro South, a 164,976-square-foot, newly constructed office building in Austin. Centro South represents Phase II of a larger development, and the sister building, Centro North, will be complete later this summer. At the time of the loan closing, Centro South was 96 percent leased, with Australian software developer Atlassian serving as the anchor tenant. The borrower, AEW Capital Management LP, acquired the …

Greystar Breaks Ground on 500,000 SF Whisper 35 Industrial Project in San Marcos, Texas

SAN MARCOS, TEXAS — South Carolina-based developer Greystar has broken ground on Phase II of Whisper 35, a 500,000-square-foot industrial project in San Marcos, located roughly midway between Austin and San Antonio. Phase I of Whisper 35 consists of two buildings totaling approximately 180,000 square feet, the first of which is complete and fully leased and the second of which is slated for a fourth-quarter delivery. Phase II will comprise three buildings totaling roughly 315,000 square feet …

Westmount Realty Capital Sells 357-Unit Highland Bluffs Apartments in East Dallas

DALLAS — Locally based investment firm Westmount Realty Capital has sold Highland Bluffs, a 357-unit apartment community in East Dallas. The property was built in 1984 and consists of 28 three-story buildings that house one- and two-bedroom units ranging in size from 465 to 1,012 square feet. Amenities include a pool, playground, outdoor picnic areas and onsite laundry facilities. Al Silva of Marcus & Millichap represented Westmount Realty Capital, which invested significant upgrades …

CTCI Americas Signs 49,662 SF Office Lease in Houston’s Energy Corridor

HOUSTON — Engineering and construction firm CTCI Americas Inc. has signed a 49,662-square-foot office lease at 15721 Park Row in Houston’s Energy Corridor. The six-story, 145,000-square-foot building offers a tenant lounge, conference facilities and an outdoor collaboration area. Josh Morrow of Avison Young represented the tenant in the lease negotiations. Steve Rocher, Parker Duffie and Jenny Mueller of CBRE represented the landlord, BH

Texas Oncology to Open 32,000 SF Cancer Care Center in Beaumont

BEAUMONT, TEXAS — Texas Oncology will open a 32,000-square-foot cancer care center on the Christus Southeast Texas St. Elizabeth medical campus in Beaumont. The center will provide medical oncology, radiation oncology, gynecologic oncology, chemotherapy, genetic counseling and lab services. Cottonwood Development is developing the facility, with McCarthy Building Cos. serving as general contractor. Construction is underway, and the center is scheduled to open in spring

Fort Worth’s Multifamily Vacancy Falls via Robust Job Growth, Household Formation

By Al Silva, senior managing director, investments, Marcus & Millichap; and Ford Braly, first vice president, investments, Marcus & Millichap The multifamily segment in Fort Worth is in a great position. The metro’s vacancy rate slid down to a multi-decade low of 3.1 percent last year, which facilitated stellar rent growth as the number of available rental units plummeted.  Fort Worth’s average effective rent grew more than 15 percent in 2021 to $1,276 per month, and the …

VanTrust Real Estate Breaks Ground on 483,698 SF Industrial Project in El Paso

EL PASO, TEXAS — Kansas City-based developer VanTrust Real Estate has broken ground on Phase II of El Paso Logistics Park, a project that will add 483,698 square feet of Class A industrial space across two buildings to the local supply. VanTrust completed Phase I of the 59-acre development in February. Each building will feature 32-foot clear heights, 52 dock positions, ESFR sprinkler systems and parking for more than 150 cars and 85 trailers. Upon completion of Phase II in April 2023, El …

Andes Coil Processors to Open 151,693 SF Manufacturing Facility in Fort Worth

FORT WORTH, TEXAS — Steel products provider Andes Coil Processors will open a 151,693-square-foot manufacturing facility in Fort Worth. The facility will be situated within the 64-acre Sylvania Industrial Park, which is located at the site of former American Manufacturing of Texas plant on the city’s north side. Andes Coil Processors plans to hire 30 to 50 new employees as part of a $5 million capital investment in the local economy. Dallas-based CanTex Capital acquired Sylvania Industrial …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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