AUSTIN, TEXAS — Locally based developer Rastegar Property Co. has broken ground on 809 Skyline, a 24,700-square-foot boutique office project in East Austin. The development will consist of two approximately 12,000-square-foot buildings that will be available for either single- or multi-tenant use. Completion is slated for the first quarter of 2023. Stream Realty Partners will lease the buildings.
HOUSTON — New York City-based brokerage firm Rosewood Realty Group has arranged the sale of Quail Creek I and Quail Creek II, a 529-unit multifamily portfolio in northwest Houston. The communities were built in the late 1970s and respectively consist of 12 and 30 buildings for a total of 436,447 square feet of residential space. Units come in one- and two-bedroom floor plans, and amenities include a pool and outdoor entertainment spaces. Mike Kerwin and Scott Bernstein of Rosewood Realty Group represented the seller, locally based investment firm Nitya Capital, in the transaction. Aaron Jungreis, also with Rosewood, represented the buyer, Ventus Capital.
HOUSTON — Berkadia has negotiated the sale of Broadstone Memorial, a 401-unit apartment community in Houston’s Energy Corridor area. Built in 2007, Broadstone Memorial offers one-, two- and three-bedroom apartments ranging in size from 628 to 1,766 square feet. Units feature granite or quartz countertops, walk-in closets and full-sized washer and dryers. Amenities include a pool, clubhouse, coffee bar, business center, game room, spin room, outdoor grilling stations, a dog park and package lockers. Todd Marix, Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel and Kyle Whitney of Berkadia represented the seller, Boston-based AEW Capital Management, in the transaction. Andy Hill and Tyler Nowlin of Berkadia arranged acquisition financing through an international bank on behalf of the buyer, South Florida-based Atlantic | Pacific Cos.
HOUSTON — Fort Worth-based investment firm Fort Capital has purchased two industrial properties in Houston totaling 322,475 square feet. Haynes-Theall Industrial Park is a 197,400-square-foot development on the city’s north side that was 97 percent leased at the time of sale to 36 tenants. Harwin Business Park, located on the southwestern side of Houston, spans 125,075 square feet and was 98 percent leased at the time of sale. The seller and sales price were not disclosed.
COLLEGE STATION, TEXAS — Houston-based retail investment and management firm Levcor has acquired two shopping centers totaling 184,000 square feet in College Station. University Park is a grocery-anchored center that comprises 97,000 square feet on a 9.2-acre site that is within one mile of Texas A&M University’s campus. Texas Avenue Crossing, located about 2.5 miles from campus, totals 87,000 square feet and is anchored by Bed Bath & Beyond, with Total Wine & More and Boot Barn set to join the roster this summer.
CARROLLTON, TEXAS — Packing and crating firm DGM Services Inc. has signed a 69,590-square-foot industrial lease at 1545 Crescent Drive in the northern Dallas suburb of Carrollton. According to LoopNet Inc., the property was built in 2021. Andrew Gilbert and Keaton Brice with Holt Lunsford Commercial represented the landlord, Boston-based TA Realty, in the lease negotiations. Steven Berger with CBRE represented the tenant.
ROUND ROCK, TEXAS — Edge Realty Partners has arranged the sale of Round Rock Crossing, a 245,592-square-foot shopping center in the northern Austin suburb of Round Rock. Built in phases on 31.5 acres between 2004 and 2006, the eight-building property was 52 percent leased at the time of sale to 18 tenants. The roster includes Best Buy, Michael’s, Dollar Tree, Vitamin Shoppe, Five Guys and Salons by JC. Mart Martindale and Brandon Beeson of Edge Realty Partners represented the undisclosed seller in the transaction. The buyer, Los Angeles-based BH Properties, intends to execute a value-add program at Round Rock Crossing.
DALLAS — Locally based investment firm M2G Ventures has acquired eight industrial buildings totaling approximately 207,000 square feet in the West Brookhollow submarket of Dallas. The properties, the six-building Commonwealth Industrial Park and two buildings plus an adjacent parcel on Woodall Street, comprise a total of 11.6 acres. M2G Ventures plans to implement a value-add program. The seller and sales price were not disclosed.
ROUND ROCK, TEXAS — Seattle-based developer and operator Sabey Data Centers will develop a facility in the northern Austin suburb of Round Rock that will have the capacity to produce up to 72 megawatts of power. The two-building development will be situated on a 40-acre site and will be primarily marketed to hyperscale cloud users. Preliminary sitework is underway, and Sabey plans to break ground in June and to deliver the facility in the first quarter of 2023.
DALLAS — Next Wave Investors, a private equity firm based in Southern California, has purchased Casa Luna Apartments, a 232-unit multifamily community in East Dallas. The property was built in 1969 and features one-, two- and three-bedroom units and amenities such as a playground, clubhouse, lounge, courtyard and onsite laundry facilities. Next Wave plans to implement a value-add program to enhance unit interiors, building exteriors, utility systems and landscaping. The seller and sales price were not disclosed.