HOUSTON — Cushman & Wakefield has arranged the portfolio sale of four memory care communities totaling 152 units in the Houston area. The portfolio comprises Addington Place of The Woodlands, Addington Place of Cy-Fair, Addington Place of Meyerland and Addington Place of Clear Lake. The communities originally opened between 2010 and 2012. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Jim Dooley and Chris Remeika represented the seller, New York-based Healthcare Trust Inc., in the transaction. McFarlin Group, a Dallas-based private equity firm, acquired the portfolio in an all-cash deal.
AUSTIN, TEXAS — JLL has brokered the sale of ArborView, a 151-unit age-restricted multifamily community in Austin. The property, which opened last year, is located within the Circle C master-planned community on the city’s southwest side. Units at ArborView feature granite countertops and tile backsplashes, and amenities include a pool, indoor and outdoor lounge areas, a fitness center, demonstration kitchen, hair salon and putting greens. Charles Bissell led a JLL team that represented the seller, Cadence Multifamily, in the transaction. Texas-based developer Sparrow Partners purchased ArborView for an undisclosed price.
SAN ANTONIO — San Francisco-based investment firm Hamilton Zanze has sold Niche Apartments, a 150-unit multifamily complex located in the Oakwell Farms area of San Antonio. Built in 2000, the property offers one-, two- and three-bedroom units with an average size of 955 square feet, as well as a pool, fitness center, outdoor grilling areas and walking trails. Hamilton Zanze originally acquired the asset in 2016 and implemented a value-add program.
CARROLLTON, TEXAS — Lee & Associates has negotiated an 85,000-square-foot industrial lease at 1700 Columbian Club Drive in the northern Dallas metro of Carrollton. According to LoopNet Inc., the property was built in 1996 and renovated in 2001. Ken Wesson of Lee & Associates represented the undisclosed landlord in the lease negotiations. Wilson Brown of CBRE represented the tenant, Lily of the Desert, a provider of organic gels and juices.
FRISCO, TEXAS — Dick’s Sporting Goods (NYSE: DKS) has agreed to sublease 50,000 square feet of retail space at 5550 Preston Road in Frisco from Oklahoma-based discount retailer Hobby Lobby. Evan Bloom of The Woodmont Co. represented Hobby Lobby in the sublease negotiations. Megan Trimble and Greg Bracchi of Edge Realty represented Dick’s Sporting Goods. New York-based REIT Kimco Realty Corp. owns the center in which the space is located.
BAYTOWN, TEXAS — A joint venture between Stream Realty Partners and Principal Real Estate Investors will develop Portside Logistics Center, a 1 million-square-foot speculative industrial facility that will be located near Port Houston. The Baytown project will offer proximity to the Grand Parkway, Interstate 10 and Highway 225 while also providing access to Port Houston’s two container terminals: Barbour’s Cut and Bayport. Portside Logistics Center will consist of a 760,000-square-foot cross-dock building and a 260,000-square-foot front-load building with 40- and 36-foot clear heights. Both buildings will deliver with spec office space, LED warehouse lights and fully fenced and secured truck courts. Construction is set to begin in the third quarter and to be complete in late 2023. Stream will also handle leasing of the facility.
SAN ANTONIO — Atlanta-based developer Oakmont Industrial Group has broken ground on Oakmont 410, a 639,595-square-foot speculative industrial project in San Antonio. The site fronts the Interstate 410 Access Road on the city’s northeast side. The cross-dock facility will feature 40-foot clear heights, 146 dock-high doors, an ESFR sprinkler system and parking for up to 334 trailers and 406 cars. Oakmont has tapped NAI Partners as the leasing agent. Completion is slated for December.
FARMERS BRANCH, TEXAS — Texas-based developer Presidium has begun construction on Presidium Valley View, a 344-unit multifamily project located in the northern Dallas metro of Farmers Branch. Units at Presidium Valley View will come with stainless steel appliances, quartz countertops, kitchen islands, built-in desks, private balconies, keyless entry mechanisms and individual washers and dryers. Indoors, the property will house a fitness center, clubroom area, coffee bar, theater lounge with a golf simulator and coworking spaces. Outdoor amenities will include a pool, yoga lawns, grilling areas and a pet park/spa. Dallas-based O’Brien Architects is the project architect. Phase I of the development is scheduled to be complete in late 2023.
BASTROP, TEXAS — DWG Capital Group has arranged the sale of a 7.6-acre development site in Bastrop, about 30 miles east of Austin, that is zoned to support cold storage, distribution/warehousing or light retail development. The site consists of two adjacent parcels spanning 5.3 and 2.3 acres that are proximate to Tesla’s $1 billion Gigafactory. The buyer, an undisclosed Austin-based developer, plans to construct a self-storage or industrial flex building at the site with tentative plans to break ground in 2023. Judd Dunning of DWG Capital Group represented the seller, Fort Worth-based MAG Capital Partners, as well as the buyer, in the transaction.
SAN ANTONIO — Colliers has brokered the sale of a 40,800-square-foot industrial building located at 8555 NE Loop 410 in San Antonio. The property was built on two acres on the city’s east side in 1986. Jason Tangen of Colliers represented the buyer, TRECAP Management, in the transaction. Zachary Taylor of Colliers, along with Charles Hargis of Endura Advisory Group, represented the seller, EJ Morales III Holdings. The facility was 30 percent leased at the time of sale.