Texas

Wolf Capital Acquires 120,000 SF Medical Tower in Houston’s Heights Neighborhood

by Taylor Williams March 8, 2022

HOUSTON — Wolf Capital Partners has acquired Heights Medical Tower, a 120,000-square-foot medical office building in Houston’s Heights neighborhood. The location at 427 W. 20th St. puts the property across the street from The Heights Hospital. The new ownership will renovate the property to feature a new lobby, elevator cabs, spec suites, MEP systems and restrooms, while also rebranding the building as HeightsMED. Heins Properties’ Anthony Heins represented Wolf Capital Partners in the deal. Matthew Putterman of JLL arranged acquisition financing through Origin Bank. The seller was not disclosed. Transwestern has been tapped to lease the property. Completion of the capital improvement program is slated for mid-2023.

March 8, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 208-Unit Self-Storage Facility in San Antonio

by Taylor Williams March 8, 2022

SAN ANTONIO — Marcus & Millichap has brokered the sale of AA Stor All, a 208-unit self-storage facility in San Antonio. The property consists of 24,750 net rentable square feet of non-climate-controlled space across 170 units, along with 38 outdoor parking spaces. Jon Danklefs of Marcus & Millichap represented the seller, an undisclosed limited liability company, in the transaction. The buyer and sales price were also undisclosed.

March 8, 2022

Acquisitions Multifamily Seniors Housing Texas

Ensign Group Acquires 74-Bed Waterton Skilled Nursing Facility in Tyler, Texas

by Taylor Williams March 8, 2022

TYLER, TEXAS— The Ensign Group, Inc. (NASDAQ: ENSG) has acquired the real estate and operations of The Waterton Healthcare and Rehabilitation, a 74-bed skilled nursing facility in Tyler. The sales price was not disclosed. These acquisitions bring Ensign’s portfolio to 250 healthcare operations, 23 of which also include senior living operations, across 13 states. Ensign owns 102 real estate assets.

March 8, 2022

Market Reports Oklahoma Texas Texas Market Reports

Spotlight on Tulsa: A Hidden Gem for Commercial Real Estate Investors

by Taylor Williams March 8, 2022

By Lanie Beck, director of corporate research, marketing & communications, Stan Johnson Co. Situated on the banks of the Arkansas River in northeast Oklahoma’s Green Country, Tulsa is a hidden gem for residents, employers and commercial real estate investors. Once recognized as the oil capital of the world, Tulsa has become a growing economic base for a variety of industries, including energy, finance, aviation, telecommunications and technology. Attractions and features of the city include the historic Route 66, the Philbrook and Gilcrease Museums, an Art Deco-inspired downtown, the award-winning Gathering Place Park and a vibrant resurgence of intown neighborhoods. Business, Population Boom Tulsa’s central U.S. location and operating costs that run below the national average, as well as a cost of living that is one of the lowest in the country for metro areas, make it incredibly desirable for businesses of all sizes. To help drive awareness during the pandemic, the city launched a rejuvenation project called “Tulsa Remote” that provided financial bonuses to attract more affluent remote workers and enhance the city’s diversity and community. Tulsa’s attractive characteristics, combined with the metro’s active efforts, have contributed to a boost in population growth over the last few years. In 2021, …

March 8, 2022

Development Office Texas

Cielo Property Group Reveals New Plans, Name for 46-Story Office Tower in Downtown Austin

by Taylor Williams March 7, 2022

AUSTIN — Cielo Property Group has revealed updated plans for its 46-story office tower in downtown Austin. With site plan approval now in place, the locally based developer has announced that the groundbreaking will occur this summer and that the 750,000-square-foot building will be branded Perennial. Cielo acquired the site, which comprises the southern end of a full city block, in phases over the last two years. Perennial represents the first phase of a larger development that was initially planned to feature a second office tower on the north end of the block. Cielo has since pivoted and is now formulating plans for a residential/hotel tower for that component of the site.

March 7, 2022

Development Industrial Texas

Jackson-Shaw to Develop 224-Acre Industrial Park in Metro Austin

by Taylor Williams March 7, 2022

GEORGETOWN, TEXAS — North Texas-based developer Jackson-Shaw has purchased 224 acres in the northern Austin suburb of Georgetown for the development of a business park that will be known as CrossPoint. Phase I of CrossPoint will consist of three buildings totaling 488,000 square feet on a 61.7-acre tract. In addition, Onx Homes has signed a 204,000-square-foot lease to occupy Building 1 in the initial phase of development. Joeris is the general contractor, with Powers Brown as the architect and Pacheco Koch as the civil engineering firm. CrossFirst Bank is providing construction financing, and CBRE has been tapped to lease the project. Diamond Realty is the equity partner. Construction of Phase I is slated to begin in April and be complete in the second quarter of 2023.

March 7, 2022

Development Multifamily Texas

Ryan Cos. Breaks Ground on 345-Unit Apartment Community in Austin’s Mueller District

by Taylor Williams March 7, 2022

AUSTIN, TEXAS — Minneapolis-based developer Ryan Cos. has broken ground on a 345-unit apartment community located in Austin’s Mueller District. The project will consist of two three- and five-story buildings with 2,500 square feet of retail space on the ground floor. Units will feature one-, two- and three-bedroom floor plans, with 15 percent (about 50) of residences reserved for renters earning up to 60 percent of Austin’s area median income. Specific amenities were not disclosed, but the developer stated that the project will offer outdoor gathering spaces, coworking spaces, a rooftop deck and pet care facilities. Completion is slated for late 2023.

March 7, 2022

Acquisitions Industrial Texas

Arden Group Acquires 203,421 SF Industrial Complex in Northeast Houston

by Taylor Williams March 7, 2022

HOUSTON — Arden Logistics Parks, a division of Philadelphia-based investment firm Arden Group, has acquired a two-building, 203,421-square-foot industrial complex in northeast Houston. Built in 1999 and renovated in 2008 and 2014, the property features 24- to 30-foot clear heights. Rusty Tamlyn, Trent Agnew, Charlie Strauss and Jack Moody of JLL represented the undisclosed seller in the transaction. James Brolan and John David Johnson of JLL arranged the financing on behalf of Arden Logistics Parks.

March 7, 2022

Company News Healthcare Texas

Realty Trust Group Expands to Texas, Opens Houston Office

by Taylor Williams March 7, 2022

HOUSTON — Realty Trust Group, a healthcare real estate advisory firm with six offices across the Southeast, has expanded into Texas with the opening of a new office at 2200 Post Oak Blvd. in Houston’s Galleria neighborhood. Services offered will include healthcare real estate advisory, market analytics, project development, brokerage, property management and regulatory compliance support. Craig Flanagan, an industry veteran who joined Realty Trust Group in 2012, will lead the new office.

March 7, 2022

Development Industrial Texas

McCormack Commercial Breaks Ground on 1.3 MSF Industrial Project in Fort Worth

by Taylor Williams March 4, 2022

FORT WORTH, TEXAS — Houston-based developer McCormack Commercial has broken ground on Meacham Commerce Center, a 1.3 million-square-foot industrial project in Fort Worth. Meacham Commerce Center will consist of four buildings with cross-dock and rear-load configurations that will be situated on an 80-acre site on the city’s north side. The first building will span 334,750 square feet and will feature 36-foot clear heights and parking for 240 cars and 103 trailers. Completion of that building is slated for the third quarter. Holt Lunsford has been tapped as the leasing agent.

March 4, 2022

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