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5755-Hermann-Park-Houston
AcquisitionsMultifamilyTexas

Newmark Brokers Sale of Four Multifamily Properties Totaling 1,103 Units in San Antonio, Houston

by Taylor Williams

SAN ANTONIO AND HOUSTON — Newmark has negotiated the sale of four multifamily properties totaling 1,103 units that are located within the major medical centers of San Antonio and Houston. Broadstone Oak Hills and Hawthorne House are proximate to the South Texas Medical Center in San Antonio, and 5755 Hermann Park and Equinox are located within the Texas Medical Center in Houston. Alliance Residential sold Broadstone Oak Hills, Hawthorne House and Equinox, and M-M Properties sold 5755 Hermann Park. River Rock Capital purchased the San Antonio properties, and Sun Holdings bought the Houston communities. Patton Jones, Matt Michelson, Zach Springer, David Mitchell and Thomas Alleman of Newmark brokered the deals.

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11501-N.-Freeway-Fort-Worth
IndustrialLeasing ActivityTexas

Lee & Associates Negotiates 707,940 SF Industrial Lease in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Lee & Associates has negotiated a 707,940-square-foot industrial lease at 11501 N. Freeway in Fort Worth. According to commercialcafé.com, the property sits on 40.1 acres and includes 410 parking spaces. Becky Thompson of Lee & Associates represented the tenant, Woods Distribution Solutions, in the lease negotiations. The landlord, TCRG Properties, was self-represented.

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AcquisitionsIndustrialSelf-StorageTexas

Bellomy Arranges Sale of 300-Unit Self-Storage Facility in Corpus Christi

by Taylor Williams

CORPUS CHRISTI, TEXAS — Bellomy & Co. has arranged the sale of Space Self Storage, a 300-unit facility in Corpus Christi. The property spans 40,948 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, an Austin-based entity doing business as Divisidero Property LLC. The duo also procured the buyer, New York-based Andover Properties.

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Beacon-on-Westmoreland-DeSoto-Texas
AcquisitionsMultifamilyTexas

Thompson Realty, Trez Capital Sell 194-Unit Apartment Community in Metro Dallas

by Taylor Williams

DESOTO, TEXAS ­— Thompson Realty Capital and equity partner Trez Capital have sold The Beacon on Westmoreland, a 194-unit apartment community that is situated on 10.4 acres in the southern Dallas suburb of DeSoto. The Class A property’s unit mix consists of 124 one-bedroom units, 58 two-bedroom units and 12 three-bedroom units that range in size from approximately 550 to 1,180 square feet. Amenities include a pool, fitness center, dog park, playground and a walking trail. Construction began in 2019. The buyer was not disclosed.

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DevelopmentHealthcareTexas

Texas Oncology to Open 50,000 SF Cancer Care Center in Amarillo

by Taylor Williams

AMARILLO, TEXAS — Texas Oncology will open a 50,000-square-foot cancer care center in Amarillo. The freestanding facility will offer medical oncology, hematology, gynecologic oncology, radiation oncology, breast radiology, surgical oncology and colon and rectal surgery services. Denver-based NexCore Group is the developer of the project, which will be situated on 4.8 acres. Construction will begin later this year. Once open, specialists at Texas Oncology’s other Amarillo offices will move to this location.

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The-Remington-Killeen
AcquisitionsMultifamilyTexas

JLL Negotiates Sale of 200-Unit Remington Apartments in Killeen, Texas

by Taylor Williams

KILLEEN, TEXAS — JLL has negotiated the sale of The Remington, a 200-unit apartment community located in the Central Texas city of Killeen. The garden-style property features one- and two-bedroom units that range in size from 450 to 1,100 square feet and include private balconies/patios. The amenity package consists of a pool, business center, dog park, fitness center, outdoor grilling stations and onsite laundry facilities. Sean Sorrell, Steven Hahn Jr., Art Barnes, Ryan McBride, Joe Dowdle, Nicole Fontaine and Sam Nichols of JLL represented the seller, California-based NALS Apartments Homes, in the transaction. C.W. Sheehan, Matthew Ctvrtlik and Scott Dickey of JLL originated an undisclosed amount of Fannie Mae acquisition financing on behalf of the borrower, a fund backed by GPI Real Estate.

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AC-Hotel-by-Marriott-Waco
DevelopmentHospitalityTexas

SRH Hospitality, SkyWalker to Develop 182-Room AC Hotel by Marriott in Downtown Waco

by Taylor Williams

WACO, TEXAS — Developer SRH Hospitality Holdings LLC and SkyWalker Property Partners will develop a 182-room hotel in Waco that will be operated under the AC Hotels by Marriott brand. The five-story building will be located within a Qualified Opportunity Zone in the downtown area. Amenities will include a 16,900-square-foot conference center with breakout rooms and an adjoining 4,000-square-foot poolside terrace, as well as a 7,700-square-foot ballroom. Rogers O’Brien Construction Co. is the general contractor for the project, construction of which is scheduled to begin this month and to be complete in June 2023. Other project partners include NORR (architect of record), Design Force Corp. and Wild Muse Interiors (interior designers) and Happy State Bank and Petros PACE Finance (construction lenders).

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IndustrialLeasing ActivityTexas

Elements Sleep Signs 177,473 SF Industrial Lease at Urban District 30 in Metro Dallas

by Taylor Williams

MESQUITE, TEXAS — Elements Sleep, a provider of mattresses and bedding, has signed a 177,473-square-foot industrial lease at Building 1 at Urban District 30, an 80-acre development in the eastern Dallas suburb of Mesquite. Matt Dornak and Blake Kendrick with Stream Realty Partners represented the landlord, Urban Logistics Realty, in the lease negotiations. CBRE represented the tenant.

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AcquisitionsRetailTexas

J. Beard, Outlier Capital Acquire 141,450 SF Grocery-Anchored Shopping Center in Metro Houston

by Taylor Williams

TOMBALL, TEXAS — A joint venture between locally based full-service real estate firm The J. Beard Real Estate Co. and Outlier Capital LLC has purchased Tomball Town Center, a 141,450-square-foot shopping center located in the northern outskirts of Houston. Kroger anchors the center, which was built on 14.1 acres in 2004. David Disney and Adam Crockett with Dallas-based Disney Investment Group represented the sellers, Illinois-based shopping center REIT InvenTrust Properties and a fund advised by Crow Holdings Capital, in the transaction. Morgan Stanley provided acquisition financing. Tomball Town Center was 98 percent leased at the time of sale.

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Township-Square-Missouri-City
DevelopmentRetailTexas

KM Realty Unveils Redevelopment Plans for 67,000 SF Shopping Center in Metro Houston

by Taylor Williams

MISSOURI CITY, TEXAS — KM Realty Investment Trust Inc., a locally based private investment firm, has unveiled plans for the redevelopment of Township Square, a 67,000-square-foot shopping center located in the southwestern Houston suburb of Missouri City. Houston-based Identity Architects is designing the project, which will upgrade the façade and landscaping of the 1980s-era property. The redevelopment is scheduled to begin in late fall and, tentatively, to be complete in the first quarter of next year. Tenants, which include Old Hickory Inn BBQ, Codemark Financial and Sugar’s Cajun Cuisine & Bar, will remain open during construction.

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