Texas

Clarion Partners Acquires 369,310 SF Distribution Center in El Paso

by Taylor Williams August 18, 2022

EL PASO, TEXAS — A fund backed by New York-based investment firm Clarion Partners has acquired Rojas East Distribution Center, a 369,310-square-foot distribution center in El Paso. The two-building facility was built on 21.2 acres in 2021 and was fully leased at the time of sale. Building features include 28- to 32-foot clear heights, 56 dock doors, ESFR sprinkler systems and combined parking for 42 trailers and 292 cars. Dustin Volz led a JLL team that marketed the property on behalf of the seller and developer, Dallas-based Hunt Southwest.

August 18, 2022

Acquisitions Multifamily Texas

VIV Real Estate Acquires 135-Unit Envue Square Apartments in Southeast Houston

by Taylor Williams August 18, 2022

HOUSTON — Locally based investment firm VIV Real Estate has acquired Envue Square, a 135-unit apartment complex in southeast Houston. The property offers one-, two- and three-bedroom units and amenities such as a pool, playground, clubhouse with a coffee bar, outdoor grilling and dining stations and onsite laundry facilities. VIV acquired the property in partnership with Texas Valley Group, and the new ownership plans to continue the value-add program put in place by the previous ownership. The seller and sales price were not disclosed.

August 18, 2022

Acquisitions Multifamily Northmarq Texas

Northmarq Arranges Sale of 84-Unit Bella Rose Apartments in Mission, Texas

by Taylor Williams August 18, 2022

MISSION, TEXAS — Northmarq has arranged the sale of Bella Rose, an 84-unit apartment complex located in the Rio Grande Valley city of Mission. Built in 2008, the property features units with renovated interiors and amenities such as a pool, fitness center and onsite maintenance and management. Zar Haro, Moses Siller, Phillip Grafe and Bryan VanCura of Northmarq represented the seller in the transaction. The buyer, an entity doing business as AZTEX RE Investments LLC, plans to combine Bella Rose with the neighboring 80-unit property that it purchased earlier this year.

August 18, 2022

Industrial Leasing Activity NAI Texas

NAI Partners Negotiates 50,995 SF Industrial Lease in Northwest Houston

by Taylor Williams August 18, 2022

HOUSTON — NAI Partners has negotiated a 50,995-square-foot industrial lease at 6410 Langfield Road in northwest Houston. According to LoopNet Inc., the property was built in 2015. Travis Land and A.J. Williams of NAI Partners represented the landlord, an entity doing business as HOU IND 2 LLC, in the lease negotiations. Patrick McKiernan and Jason Mashni of First Houston Properties represented the tenant, Legion Piping Fabricators Inc.

August 18, 2022

Development Office Texas Top Stories

Generational Commercial, Fairway Real Estate Receive $124M Construction Financing for Office Project in Austin’s Central Business District

by Katie Sloan August 18, 2022

AUSTIN, TEXAS — A joint venture between Generational Commercial Properties and Fairway Real Estate has received $124 million in construction financing for Zilker Point, a 207,000-square-foot office development in Austin. The project, which is located at 218 South Lamar Blvd. in the city’s Central Business District South, will offer 192,000 square feet of office space across the building’s top six floors upon completion. The development will also feature 15,000 square feet of ground-floor retail and amenity space and 635 parking spaces. Building amenities are set to include a 3,600-square-foot rooftop deck with views of the downtown Austin skyline; a 1,240-square-foot fitness center with men’s and women’s showers and lockers; an art gallery with exhibitions by local artists; bike storage; and a courtyard with shaded seating, an outdoor bar and a live music stage. Zilker Point is located across from Lady Bird Lake and adjacent to hiking and biking trails including the Barton Springs Road Bike Trail, Barton Creek Greenbelt Trail and West Bouldin Creek Preserve Trail. The development was designed to meet the WELL Building Standard and will include open floor plans with expansive window walls, an advanced hybrid HVAC system, a clean air system with hospital-grade filtration and touch-less technology. …

August 18, 2022

Acquisitions Multifamily Texas

Castle Lanterra Sells Two Multifamily Properties Totaling 570 Units in Corpus Christi

by Taylor Williams August 17, 2022

CORPUS CHRISTI, TEXAS — New York City-based investment firm Castle Lanterra has sold two multifamily properties totaling 570 units in Corpus Christi. Baypoint is a 350-unit waterfront community that was originally built in 1998 and offers boat parking, a dog park, pool, sports court and a fitness center. Azure is a 220-unit garden-style community that was originally built in 1997 and offers one-, two- and three-bedroom units, as well as a similar suite of Class A amenities. Castle Lanterra acquired the assets in 2018 and 2016, respectively, and implemented value-add programs. The buyer and sales price were not disclosed.

August 17, 2022

Acquisitions Industrial Self-Storage Texas

Berkshire Hathaway Brokers Sale of 278-Unit Self-Storage Facility in Amarillo

by Taylor Williams August 17, 2022

AMARILLO, TEXAS — Berkshire Hathaway has brokered the sale of Create Space Storage, a 278-unit facility in Amarillo. The property spans 31,912 net rentable square feet. A private ownership group sold the property to a REIT for an undisclosed price, with both parties requesting anonymity. Cameron Vale, Parker Sweet and Josh Cato of Berkshire Hathaway brokered the deal.

August 17, 2022

Development Multifamily Texas

Kalterra Capital to Develop 184-Unit Multifamily Project in Waxahachie, Texas

by Taylor Williams August 17, 2022

WAXAHACHIE, TEXAS — Kalterra Capital Partners will develop The Fitzgerald, a 184-unit multifamily project in Waxahachie, a southern suburb of Dallas. The seven-acre complex will be situated directly to Park Place Apartments, Kalterra’s 213-unit development that sold to North Carolina-based Rowan Properties last May. Rowan Properties also purchased The Fitzgerald during the preconstruction phase but retained Kalterra to complete the development. Kalterra expects to deliver The Fitzgerald in the second quarter of 2023.

August 17, 2022

Development Office Texas

Bradford Commercial Launches $8M Renovation of North Dallas Office Building

by Taylor Williams August 17, 2022

DALLAS — Bradford Commercial Real Estate Services has launched an $8 million renovation of Meadow Park Tower, a 16-story office building in North Dallas. The project will deliver an overhaul of HVAC systems and updates to the amenity and common areas, including the addition of new outdoor spaces and activities. The plan also calls for three office suites to be upgraded. Bradford acquired the building, which is currently 89 percent leased, about nine months ago and operates its headquarters office from the 11th floor. Completion of the renovation is slated for the first quarter of next year.

August 17, 2022

Acquisitions Healthcare Texas

Coldwell Banker Arranges Sale of 61,000 SF Medical Office Building in Edinburg, Texas

by Taylor Williams August 17, 2022

EDINBURG, TEXAS — Coldwell Banker Commercial has arranged the sale of a 61,000-square-foot medical office building in the Rio Grande Valley city of Edinburg. The three-story property was built on three acres in 2003 within Cornerstone Medical Park. Daniel Galvan and Michael Pacheco of Coldwell Banker Commercial represented the buyer and seller, both of which requested anonymity, in the transaction. The building was 99 percent leased at the time of sale.

August 17, 2022

Newer Posts

Older Posts