RICHARDSON, TEXAS — Mapletree, a global real estate developer based in Singapore, is underway on the renovation of a 215,394-square-foot office building located within the Galatyn Commons complex in the northern Dallas suburb of Richardson. Galatyn Commons comprises four buildings totaling 800,000 square feet. Amenities include a food hall with 300-seat dining area, coffee shop and grab-and-go food service, as well as a 10,000-square-foot fitness and wellness center, an outdoor kitchen with grill stations, bocce ball courts and an outdoor amphitheater with 1,000-seat capacity. Cushman & Wakefield is marketing the five-story building for lease. Renovations are expected to be complete next summer.
HOUSTON — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of Pebble Creek Apartments, a 136-unit property in northwest Houston. Built on 6.5 acres in 1980, the property offers one- and two-bedroom units with an average size of 865 square feet. According to Apartments.com, amenities include a pool, playground and onsite laundry facilities. Chris Siemasko of TMG represented the seller, and Nasir Pooran of TMG procured the private California-based buyer. Both parties requested anonymity. Pebble Creek was 97 percent occupied at the time of sale.
WALLER, TEXAS — Locally based firm KDW will develop a 130,000-square-foot manufacturing facility in the northwestern Houston suburb of Waller that will be an expansion of the existing campus of Green Span Profiles, a provider of insulated wall panels. The crane-served facility will be situated on 33 acres and is expected to come on line in January. The company’s original 70,000-square-foot plant opened in 2011. Green Span Profiles expects to hire about 15 new employees to staff the facility.
SAN ANTONIO — Nutex Health, a Houston-based provider that owns and operators 21 facilities across eight states, has acquired a 55,755-square-foot facility in north San Antonio. According to LoopNet Inc., the 65-bed facility was built on 4.1 acres in 1971. Zach Leger of NAI Partners represented Nutex Health in the transaction. Chad Gunter of Transwestern represented the seller.
FORT WORTH, TEXAS — Southern California-based developer Majestic Realty Co. is underway on construction of Majestic Silver Creek Business Park, a 520-acre project in northwest Fort Worth. Phase I centers on the speculative development of a 1.1 million-square-foot building that is slated for a second-quarter 2023 delivery. Majestic is also underway on sitework for a 732,284-square-foot building that will be situated on the adjacent parcel.
SAN ANTONIO — JLL has negotiated the sale of Corner Ridge Crossing, a 576,047-square-foot industrial park on San Antonio’s east side. Built in 2020, the property comprises four industrial buildings: one cross-dock, one front-load and two rear-load buildings. Each building has 28- to 32-foot clear heights, 28- to 60-foot dock high doors and truck court depths ranging from 130 to 210 feet. Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Zach Riebe of JLL represented the seller, Houston-based Hines, in the transaction. Global investment firm KKR acquired the development for an undisclosed price.
SAN ANTONIO — Newmark has brokered the sale of Alamo Park, a 309-unit apartment community in northeast San Antonio. The property features one- and two-bedroom units with an average size of 658 square feet. Amenities include a pool, fitness center, volleyball court and outdoor grilling and dining areas. Jim Young, Matt Michelson and Chase Easley of Newmark represented the seller, Austin-based Achieve Investment Group, in the transaction. New York-based River Rock Capital purchased the asset for an undisclosed price and plans to implement a value-add program. Alamo Park was 94 percent occupied at the time of sale.
EL PASO, TEXAS — DSV Air & Sea, a global logistics firm based in Denmark, has signed a 142,685-square-foot industrial lease at 12230 Paseo Del Este Blvd. in El Paso. The space is located within Building 2 of El Paso Logistics Park, a 59-acre development by Kansas City-based VanTrust Real Estate. PSRBB Industrial Group designed Phase I of the project, which was completed in September 2021, and Jordan Foster Construction served as the general contractor. Bill Caparis and Arturo De la Mora of CBRE represented the landlord in the lease negotiations. Chad McCleskey, also with CBRE, represented the tenant.
AUSTIN, TEXAS — Southern California-based Vista Investment Group has acquired SoCo Apartments, a 122-unit multifamily property in Austin. Built in 2004, the property offers one, two- and three-bedroom units that are housed across 16 two-story buildings. Amenities include a pool, clubhouse, fitness center, coffee bar and picnic and grilling areas. The new ownership plans to invest in capital improvements to unit interiors, building exteriors and amenity spaces. Will Balthrope, Jordan Featherston and Kent Myers of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the transaction.
HOBOKEN, N.J. — Faropoint, an investment firm based in Northern New Jersey, has acquired six warehouses totaling approximately 550,000 square feet that are located throughout the Dallas-Fort Worth metroplex. The aggregate sales price was $59 million. The properties range in size from 40,116 to 245,300 square feet and were all fully leased at the time of sale. Cushman & Wakefield, Citadel Partners, Finial Group, Mercer Co. and Stream Realty Partners represented the various sellers of the properties, all of which were private investment groups that requested anonymity.