Texas

Provident Realty Advisors Breaks Ground on 1.3 MSF Distribution Center in Metro Houston

by Taylor Williams July 20, 2023

BAYTOWN, TEXAS — Dallas-based developer Provident Realty Advisors has broken ground on Port 99, a 1.3 million-square-foot distribution center in Baytown, located near Port Houston on the city’s eastern outskirts. The development’s multiple buildings will have front-load and cross-dock configurations, clear heights of 32 to 40 feet, 271 dock-high doors, six grade-level doors and combined parking for 437 cars and 1,184 trailers. Construction is slated for a second-quarter 2024 completion. Lee & Associates is marketing the development for lease.

July 20, 2023

Development Multifamily Texas

Cordish Cos. Begins Leasing 299-Unit Apartment Community in Arlington

by Taylor Williams July 20, 2023

ARLINGTON, TEXAS — The Cordish Cos., a Baltimore-based developer and operator specializing in sports-themed entertainment projects, has begun leasing One Rangers Way, a 299-unit multifamily project in Arlington. The community is located near Globe Life Field, home of the MLB’s Texas Rangers, and within Cordish’s Arlington Entertainment District. Designed by Hord Coplan Macht, One Rangers Way offers one- and two-bedroom units, as well as penthouses, in addition to a 423-space parking garage and 43,000 square feet of indoor and outdoor amenities. Specifically, amenities include a pool, fitness center, coworking spaces, indoor and outdoor lounges and concierge services. Full completion is slated for late 2024. Rents start at $1,400 per month for a one-bedroom apartment.

July 20, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 130-Unit Storage Facility in Brazoria, Texas

by Taylor Williams July 20, 2023

BRAZORIA, TEXAS — Marcus & Millichap has brokered the sale of Churchill Bridge Storage, a 130-unit boat and RV storage facility located in the Texas Gulf Coast city of Brazoria. The facility spans 51,512 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller and procured the buyer, both of which were locally based limited liability companies that requested anonymity, in the transaction.

July 20, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 25,564 SF Industrial Lease Near Dallas Love Field Airport

by Taylor Williams July 20, 2023

DALLAS — Lee & Associates has negotiated a 25,564-square-foot industrial lease near Dallas Love Field Airport on the city’s northwest side. According to LoopNet Inc., the single-tenant property at 9151 King Arthur Drive was built in 1966. Mark Graybill of Lee & Associates represented the landlord, Trio Pines, in the lease negotiations. The representative of the tenant, Lighthouse Fence Supply, was not disclosed.

July 20, 2023

Leasing Activity Office Texas

Law Firm Signs 6,962 SF Office Lease Renewal, Expansion in Downtown Houston

by Taylor Williams July 20, 2023

HOUSTON — Law firm Shepard, Smith, Edwards & Kantas has signed a 6,962-square-foot office lease renewal and expansion at 1010 Lamar St. in downtown Houston. According to LoopNet Inc., the property was built in 1981, rises 20 stories and totals roughly 278,000 square feet. John Zivley of Partners Real Estate represented the tenant in the lease negotiations. Monte Calvert of Transwestern represented the landlord, an entity doing business as MC TRS 2 LLC.

July 20, 2023

Acquisitions Multifamily Texas

Newmark Arranges Sale of 612-Unit Signature Ridge Apartments in San Antonio

by Taylor Williams July 19, 2023

SAN ANTONIO — Newmark has arranged the sale of Signature Ridge, a 612-unit apartment community located adjacent to South Texas Medical Center in San Antonio. The property offers one-, two- and three-bedroom units with private patios/balconies and amenities such as two pools, a fitness center, dog park and a clubhouse with a communal kitchen and an arcade. Patton Jones, Matt Michelson and Andrew Dickson of Newmark represented the undisclosed seller in the transaction. Braden Harmon and Hank Glasgow of Newmark arranged acquisition financing on behalf of the buyer, which The San Antonio Business Journal reports was Kairoi Residential.

July 19, 2023

Development Multifamily Texas

NewQuest Properties to Develop $62M Multifamily Project in Metro Houston

by Taylor Williams July 19, 2023

HOUSTON — An affiliate of locally based developer NewQuest Properties will develop a $62 million, 294-unit multifamily project within The Grand at Aliana, a shopping and dining destination in metro Houston. The development’s 11 residential buildings will house studio, one-, two- and three-bedroom units that will range in size from 594 to 1,482 square feet. Amenities will include a pool, fitness center, business center, outdoor grilling and dining stations and a dog park. Dallas-based Humphreys & Partners designed the property. Construction is set to begin in September, and completion is slated for June 2025.

July 19, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 312-Unit Self-Storage Facility in Port Arthur, Texas

by Taylor Williams July 19, 2023

PORT ARTHUR, TEXAS — Marcus & Millichap has brokered the sale of Park Central Self-Service Storage, a 312-unit facility in Port Arthur, located just south of Beaumont. The property spans 48,430 net rentable square feet. Dave Knobler, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a limited partnership, in the transaction. The trio also procured the buyer, a limited liability company. Both parties were Texas-based entities that requested anonymity.

July 19, 2023

Industrial Leasing Activity Texas

Pegasus Industries Signs 171,398 SF Industrial Lease at McKinney Trade Center

by Taylor Williams July 19, 2023

MCKINNEY, TEXAS — Pegasus Industries, a provider of farming equipment, has signed a 171,398-square-foot industrial lease at McKinney Trade Center in metro Dallas. The property, which is under construction, sits on 36 acres and is now fully preleased. Brett Lewis of Lee & Associates represented the tenant in the lease negotiations. Adam Graham and Ken Wesson, also with Lee & Associates, represented the landlord, Chicago-based ML Realty Partners.

July 19, 2023

Leasing Activity Office Texas

Bradford Commercial Negotiates 10,064 SF Office Lease Renewal in Arlington

by Taylor Williams July 19, 2023

ARLINGTON, TEXAS — Bradford Commercial Real Estate Services has negotiated a 10,064-square-foot office lease renewal at Arlington Downs Tower, located in the central part of the Dallas-Fort Worth metroplex. Erik Blais and Richmond Collinsworth of Bradford represented the landlord in the lease negotiations. Jim Montgomery of Swearingen Realty Group represented the tenant, The Texas Alcoholic Beverage Commission.

July 19, 2023

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