SAN ANGELO, TEXAS — Hanley Investment Group Real Estate Advisors has arranged the sale of Sunset Plaza, a 92,000-square-foot shopping center located in the West Texas city of San Angelo. Built in 2005 on 8.4 acres, the center is home to tenants such as Ross Dress for Less, HomeGoods, Petco, Five Below, Bath & Body Works, Buckle and GameStop. Target, which was not part of the sale, has also been a long-term tenant at the property. Garrett Wood, Kevin Fryman and Lee Csenar of Hanley, in association with ParaSell Inc., represented the seller, a California-based private investor, in the transaction. The buyer, a Mexico City-based private investor, represented itself.
SAN ANTONIO — Locally based developer Koontz Corp. has sold a 25.6-acre industrial development site that is located within the 188-acre Frontera mega-site on the south side of San Antonio. The buyer, an affiliate of Builders FirstSource, plans to develop a manufacturing facility on the parcel to support construction activity throughout the region. Partners Real Estate represented Koontz Corp. in the transaction. Llano Realty Partners represented Builders FirstSource.
FORT WORTH, TEXAS — CK Family Services has signed a 9,337-square-foot office lease in West Fort Worth. The space is located within the 37,445-square-foot building at 201 N. Rupert St., a former industrial building that is now fully leased. Sarah LanCarte and Finn Wilson of LanCarte Commercial Real Estate represented the landlord, H/FW Capital Partners, in the lease negotiations. Link Karlen of KW Commercial represented the tenant.
HOUSTON — Constellation Real Estate Partners will develop Constellation Cullen, a 282,272-square-foot speculative industrial project in South Houston. The development will feature 36-foot clear heights, 130-foot truck court depths and parking for 222 cars and 53 trailers. Constellation is partnering with a fund advised by Crow Holdings Capital on the project, construction of which is slated to begin in the coming weeks and to be complete in the fourth quarter. CBRE has been tapped as the leasing agent.
LUBBOCK, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of two apartment complexes totaling 280 units in Lubbock. Bentwood Apartments is a 216-unit complex that was built in 1983, and The Bend at Bentwood is a 64-unit complex that was completed in 2014. Both properties offer one- and two-bedroom units. The deal was executed via a 1031 exchange and assumption of an existing Fannie Mae loan. The buyer and seller were not disclosed.
HOUSTON — Florida-based real estate private equity firm Eastham Capital has sold Morgan Bay, a 268-unit apartment complex in North Houston. Morgan Bay offers one- and two-bedroom units that range in size from 561 to 1,042 square feet, as well as a pool. Eastham Capital acquired the property in 2019 via a joint venture with Mosaic Residential and implemented a value-add program. The buyer was not disclosed. Morgan Bay was approximately 95 percent occupied at the time of sale.
FARMERS BRANCH, TEXAS — Hanjung America Co., a division of South Korean automotive company Hanjung NCS, has signed a 12,978-square-foot lease at Westwood Business Park, an industrial flex property located in the northern Dallas metro of Farmers Branch. Kyle Espie of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. Eddie Yoo of Landmark Realty Group represented the tenant.
HOUSTON — Constellation Real Estate Partners has broken ground on a 375,602-square-foot speculative industrial project in South Houston. Constellation Southbelt will be a three-building development that will feature 32-foot clear heights, 412 car parking spaces, 220-foot shared truck court depths and a 75-foot laydown yard for additional outdoor storage and trailer parking. Constellation is partnering with a fund advised by Crow Holdings Capital on the project, completion of which is slated for the fourth quarter. Colliers has been tapped as the leasing agent.
JUSTIN, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Reatta Ranch, a 300-unit apartment community in Justin, located north of Fort Worth. Built on 17 acres in 2020, Reatta Ranch offers one-, two- and three-bedroom units with an average size of 1,025 square feet. Amenities include a pool, fitness facility, business center and a pet play area. Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello and Shelby Vosburg of IPA represented the seller, Boulder Peak Capital, in the transaction and procured the undisclosed buyer.
HOUSTON — Florida-based real estate private equity firm Eastham Capital has sold Kensington Crossings, a 254-unit apartment complex in northwest Houston. Kensington Crossings offers one-, two- and three-bedroom units that range in size from 759 to 1,317 square feet. Amenities include a pool, business center, pet park, game room and outdoor picnic areas. Eastham Capital acquired the property in 2018 via a joint venture with Mosaic Residential and implemented a value-add program. The buyer was not disclosed.