Texas

Partnership Breaks Ground on 43-Story Apartment Tower in Austin’s Rainey Street District

by Taylor Williams October 24, 2022

AUSTIN, TEXAS — A partnership between High Street Residential, MSD Partners and River Street Partners has broken ground on 700 River, a 43-story apartment tower in Austin’s Rainey Street District. The 500-foot building will house 377 units in a mix of studio to three-bedroom residences, as well as several penthouses and 3,400 square feet of retail space. In addition, 700 River will feature more than 30,000 square feet of indoor and outdoor amenity space. HKS is the project architect, and DPR Construction is the general contractor. Completion is slated for late 2024.

October 24, 2022

Acquisitions Multifamily Texas

SPI Advisory Acquires 336-Unit Apartment Community in Metro Austin

by Taylor Williams October 24, 2022

HUTTO, TEXAS — Dallas-based investment firm SPI Advisory has acquired Skyview North, a 336-unit apartment community in the northern Austin suburb of Hutto. Formerly known as Prose Horizon, the property offers one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, tile backsplashes and full-size washers and dryers. Amenities include a pool, fitness center, clubhouse and a playground. Fritz Waldvogel of Colliers Mortgage originated an undisclosed amount of Fannie Mae acquisition financing for the deal. The seller and sales price were not disclosed.

October 24, 2022

Development Hospitality Texas

Jenkins Organization Opens 334-Site RV Park in Central Texas

by Taylor Williams October 24, 2022

BRYAN AND COLLEGE STATION, TEXAS — The Jenkins Organization, a Houston-based owner-operator, has opened Great Escapes RV Resorts Bryan College Station, an 87-acre development in Central Texas. In addition to 334 sites, the development houses 64 cabins, a clubhouse with multiple games, two pools, pickleball courts, a fitness center and laundry facilities.

October 24, 2022

Development Industrial Texas

Glazer’s Beer & Beverage to Open 250,000 SF Distribution Center in Weslaco, Texas

by Taylor Williams October 24, 2022

WESLACO, TEXAS — Glazer’s Beer & Beverage will open a 250,000-square-foot distribution center in the Rio Grande Valley city of Weslaco. The wholesale alcoholic beverage distributor will be the anchor tenant of Mid Valley International Industrial Park, a 122-acre master-planned development on which the Weslaco Economic Development Corp. recently broke ground. The move is expected to add about 200 new jobs to the local economy.

October 24, 2022

Industrial Leasing Activity Texas

Texas Almet Signs 42,850 SF Industrial Lease in Arlington

by Taylor Williams October 24, 2022

ARLINGTON, TEXAS — Texas Almet, a supplier of aircraft parts, has signed a 42,850-square-foot industrial lease at 501-509 106th St. in Arlington. According to Propertyshark.com, the single-tenant building was constructed on two acres in 1980. Canon Shoults of Holt Lunsford Commercial represented the undisclosed landlord in the lease negotiations. Scott Voelkel of Dickey Property Co. represented the tenant.

October 24, 2022

Development Mixed-Use Texas Top Stories

Midway Unveils Plans for 70-Acre Watermark Mixed-Use Development in Houston

by Taylor Williams October 24, 2022

HOUSTON — Locally based investment and development firm Midway has unveiled plans for Watermark District at Woodcreek, a 70-acre mixed-use development that will be located at the site of the former ConocoPhillips headquarters campus in West Houston. Once completed, Watermark will house 650,000 square feet of Class A office space, with a focus on natural light and flexible floor plans. The development will also include retail and restaurant space and boutique hotels. Midway also plans to modernize the existing 100,000-square-foot wellness and fitness facility. Construction is scheduled to begin in the first half of 2023. Midway also intends to repurpose a portion of the site’s existing infrastructure, which includes 16 three-story office pavilions connected by bridges over ponds and grassy areas. Repurposing existing buildings contributes to Midway’s intention toward environmental sustainability in the project. To that end, the firm has partnered with 374Water to introduce an integrated wastewater management system to the development. Wastewater, along with food wastes, will be processed and recovered as clean water, energy and minerals. Plans for infrastructural upgrades also include a new urban grid system. Architect Kevin Roche designed the property in 1978 for Conoco with an aesthetic emulating that of a Japanese fishing village. …

October 24, 2022

Acquisitions Multifamily Texas

Odyssey Properties Buys Three Metro Dallas Multifamily Communities Totaling 578 Units

by Taylor Williams October 21, 2022

ARLINGTON AND GRAND PRAIRIE, TEXAS — Los Angeles-based investment firm Odyssey Properties Group has purchased three metro Dallas multifamily properties totaling 578 units. Huntington Meadows and The Dalton are located adjacent to one another in Arlington, were built in 1984 and respectively total 250 and 68 units in one- and two-bedroom formats. Combined amenities include a fitness center, three pools, outdoor grilling and dining areas, a tennis court, pet park and a business center. The Belmont in Grand Prairie totals 260 units, also with one- and two-bedroom floor plans, and was built in 1983. The new ownership plans to implement a value-add program across all three properties.

October 21, 2022

Acquisitions Industrial Texas

Titan Development Sells 294,297 SF Industrial Facility in Metro Austin

by Taylor Williams October 21, 2022

GEORGETOWN, TEXAS — Titan Development has sold Gateway 35 Commerce Center Building 1, a 294,297-square-foot industrial facility located in the northern Austin suburb of Georgetown. Built on 21 acres in 2022, the cross-dock building was fully leased to California-based electronics manufacturer CelLink Corp. at the time of sale. Building features include 36-foot clear heights, 185-foot truck court depths, 220 car parking spaces and 94 trailer parking stalls. Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Megan Babovec of JLL represented Titan Development in the transaction. The buyer and sales price were not disclosed.

October 21, 2022

Development Multifamily Texas

StreetLights Residential Breaks Ground on 276-Unit Multifamily Project in Austin

by Taylor Williams October 21, 2022

AUSTIN, TEXAS — Dallas-based developer StreetLights Residential has broken ground on The Maris, a 276-unit multifamily project in Austin’s Lakeline neighborhood that represents Phase IV of the Presidio development. Phase I, The Michael, and Phase II, The Elizabeth, were completed in 2016 and 2019, respectively. Phase III, The Asher, is scheduled to open before the end of the year. The Maris will feature studio, one-, two- and three-bedroom floor plans ranging in size from 517 to 1,684 square feet. Amenities will include a pool, fitness center, coworking spaces and a game room. SLR Construction is the general contractor for The Maris.

October 21, 2022

Acquisitions Multifamily Texas

Magma Equities Acquires 240-Unit Apartment Complex in Roanoke, Texas

by Taylor Williams October 21, 2022

ROANOKE, TEXAS — Southern California-based investment firm Magma Equities has acquired Lost Spurs Ranch, a 240-unit apartment complex located north of Fort Worth in Roanoke. Built in 2001, the property comprises 12 three-story buildings that house one-, two- and three-bedroom units on a 13.5-acre site. The amenity package comprises a pool, fitness center, basketball court, playground and a media room. Magma Equities, which acquired the asset in a joint venture with Walker & Dunlop Investment Partners as part of a larger off-market portfolio deal, plans to upgrade the unit interiors and building exteriors. Moody National Cos. sold the property for an unspecified price. Lost Spurs Ranch, which was acquired in conjunction with the 580-unit Village at Bellaire in Houston, was 99 percent occupied at the time of sale.

October 21, 2022

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