FRIENDSWOOD, TEXAS — Locally based brokerage and investment firm Baker Katz has acquired a 20,000-square-foot freestanding retail building in Friendswood, a southeastern suburb of Houston, with plans to reposition the asset. According to LoopNet Inc., the building at 18980 Gulf Freeway was originally built in 1980 as a pad structure for Baybrook Mall. Ben Brown negotiated the purchase for Baker Katz on an internal basis. The seller and sales price were not disclosed.
AUSTIN, TEXAS — North Texas-based developer Jackson-Shaw has acquired 67 acres at the northeast corner of State Highway 130 and Elroy Road in southeast Austin for the development of a 602,400-square-foot, four-building industrial project. Plumbing and HVAC supplies distributor Ferguson Enterprises has already preleased the entirety of the 207,180-square-foot Building 3. Method Architecture is designing the project, and Burton Construction is serving as the general contractor. AQUILA Commercial has been tapped as the leasing agent. Construction is scheduled to begin in March.
NORTHLAKE, TEXAS — Lee & Associates has negotiated a 506,410-square-foot industrial lease at 4500 Northport Drive in Northlake, located north of the metroplex in Denton County. According to commercialcafé.com, the property was built on 25.4 acres in 2008 and includes 131 parking spaces. Trey Fricke and Reid Bassinger of Lee & Associates represented the landlord, Link Industrial Properties, in the negotiations for the full-building lease. Nathan Lawrence and Krista Raymond of KBC Advisors represented the tenant, Exel Logistics.
HOUSTON — Newmark has arranged a $44 million loan for the refinancing of an acute and specialty care hospital in Houston. At the time of sale, the facility was 100 percent leased to an independent surgical hospital operator and national inpatient rehabilitation facility. John Nero, Jay Miele, Ben Appel, Michael Greeley, Adam Goss and Ron Ott of Newmark arranged the nonrecourse financing, which was structured with a 70 percent loan-to-value ratio. The borrower and direct lender were not disclosed.
HOUSTON — Fort Worth-based investment firm Fort Capital has acquired a portfolio of 10 light industrial buildings totaling 239,591 square feet located in various submarkets throughout Houston. The buildings were all constructed between 1980 and 1984 and had a collective occupancy rate of 86 percent at the time of sale. The seller and sales price were not disclosed.
HOUSTON — Colliers has brokered the sale of a 17,433-square-foot industrial property located at 6421 N. Shepherd Drive in Houston. The two-building complex sits on 4.4 acres and features 15-foot clear heights, 10 grade-level doors and 2,000 square feet of office space. Jeff Peltier and John Parsley of Colliers represented the seller, R & J Partnership, in the transaction. Zane Carman of Partners represented the buyer, Holdings Enterprise.
DALLAS — Stonelake Capital Partners, a private equity firm with offices in Texas and Atlanta, will develop 2626 McKinney, a 180,000-square-foot office building in Uptown Dallas. The site is adjacent to a Whole Foods Market. The building will rise 17 stories and will offer amenities such as a lounge with a coffee and cocktail bar, communal kitchen, conference center, fitness center and a landscaped terrace. Cushman & Wakefield is marketing the development for lease. Completion is slated for summer 2025.
MANOR, TEXAS — The Manor Independent School District is underway on construction of a 116,000-square-foot elementary and middle school campus in the state capital’s northwestern suburb. The project is part of larger $174 million academic development initiative that also includes an 85,000-square-foot high school building. The campus, which will be able to support about 800 students in grades K through 8, will feature a media center, two art rooms, three maker spaces, performing arts classrooms and competition-level athletic fields. Birmingham-based HPM is providing project management, quality control and preconstruction services for the project.
MESQUITE, TEXAS — Locally based investment firm SPI Advisory has sold The Ventura Apartments, a 111-unit multifamily property located in the eastern Dallas suburb of Mesquite. Built in 2003, the property features one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, clubhouse and onsite laundry facilities. SPI Advisory acquired the asset in March 2021 and implemented a value-add program that upgraded the unit interiors, common areas and building exteriors. The buyer was not disclosed.
CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 100,800-square-foot industrial facility that sits on a four-acre lot at 1401 Dunn Drive in the northern Dallas suburb of Carrollton. Stephen Williamson of Lee & Associates represented the buyer, metro Boston-based investment firm High Street Logistics Properties, in the transaction. Keenan Cook of Mercer Co. represented the seller, Charity Supply. The sales price was not disclosed.