NEW BRAUNFELS, TEXAS — Marcus & Millichap has brokered the sale of B’s Stor All, a 286-unit self-storage facility in the northeastern San Antonio suburb of New Braunfels. The property consists of 32,320 net rentable square feet of non-climate-controlled space across 237 units, along with 49 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.
HUTTO, TEXAS — Titan Development has broken ground on a 110,000-square-foot manufacturing facility for water purification and wastewater treatment firm Ovivo Inc. in the northern Austin suburb of Hutto. The facility will be located within Titan’s Innovation Business Park, which is in its second phase of development following the delivery of a five-building, 68-acre first phase. Construction is slated for a fourth-quarter completion. Titan is developing Innovation Business Park in partnership with Hutto’s economic development department.
PEARLAND, TEXAS — Locally based investment firm Welcome Group has acquired a 44,800-square-foot, single-tenant building in the southern Houston suburb of Pearland that consists of 31,400 square feet of warehousing space and 12,800 square feet of office space. The sale also included a five-acre parcel that can support 80,000 square feet of new development. John Ferruzzo of Transwestern represented the undisclosed seller in the transaction. Ryan Wasaff and John Wilson represented Welcome Group on an internal basis.
MCKINNEY, TEXAS — Locally based brokerage firm Disney Investment Group (DIG) has arranged the sale of Lake Forest Marketplace, a 37,500-square-foot shopping center in the northern Dallas suburb of McKinney. The property was built in 2019. At the time of sale, Lake Forest Marketplace was fully leased to 14 tenants, including Pet Supplies Plus, MOD Pizza, Athletico, Floyds 99 Barbershop, Jersey Mike’s Subs and The UPS Store. David Disney and Adam Crockett of DIG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
OKLAHOMA CITY — New York City-based Ready Capital has closed a $28.3 million loan for the acquisition, renovation and stabilization of an unnamed, 400-unit apartment complex in Oklahoma City. The nonrecourse, interest-only loan features a 36-month term, floating interest rate, two extension options and a facility to fund future capital improvements. The sponsor was not disclosed.
MESQUITE, TEXAS — Locally based developer Jackson-Shaw, in partnership with Boston-based Cabot Properties, will develop a 310,900-square-foot industrial project in the eastern Dallas suburb of Mesquite. The property will be a build-to-suit corporate headquarters for automotive parts manufacturer Vehicle Accessories Inc. and will house operations such as engineering, sales, accounting, manufacturing and distribution. Jackson-Shaw is developing the project within Urban Logistics Realty’s 180-acre Alcott Station Industrial Business District. Peinado Construction is the general contractor; Halff Associates is the civil engineer; and GSR Andrade is the architect. Veritex Community Bank is providing construction financing, and CBRE has been tapped as the leasing agent. Completion is slated for the fourth quarter.
HOUSTON — CTO Realty Growth (NYSE: CTO), a Florida-based REIT, has purchased Price Plaza Shopping Center, a 205,000-square-foot retail center in the western Houston suburb of Katy, for $39.1 million. The property sits on a 22.3-acre site along the Interstate 10/Katy Freeway corridor and was 95 percent leased at the time of sale, with Best Buy, Ross Dress for Less, dd’s DISCOUNTS and James Avery Artisan Jewelry serving as the anchor tenants. CTO Realty Growth acquired Price Plaza Shopping Center from an undisclosed seller via a 1031 exchange.
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.
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.
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.