AUSTIN, TEXAS — Bellomy & Co. has brokered the sale of a 463-unit CubeSmart self-storage facility that is located approximately eight miles outside of downtown Austin. The property was built in 2019 and totals 57,707 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a Dallas-based entity doing business as I35 South LP, in the transaction. The duo also procured the buyer, a locally based entity doing business as PG Cactus Bulldog I LLC.
ALLEN, TEXAS — Adolfson & Peterson Construction (AP Construction) has broken ground on the Stephen G. Terrell Recreation Center, a 150,000-square-foot facility in the northeastern Dallas suburb of Allen. The center will house two gyms, an indoor jogging track, weight room, group fitness areas, children’s play areas and a catering kitchen. On June 8, the Allen City Council approved $40.4 million in public financing to begin construction of the project, which is slated for an early 2023 completion. Denver-based Barker Rinker Seacat Architecture is designing the project.
CONROE, TEXAS — Houston-based Gordon Partners has completed the 35,000-square-foot expansion of Waterpoint Center, an office, retail and restaurant development located north of Houston on Lake Conroe. Retail and restaurant users that will soon be opening at the 140,000-square-foot waterfront property include Akashi Asian Bistro, Crust Pizza Co., Boardwalk Boutique, The Paleta Bar, Hunger Crush Café and Bar Lago Craft Cocktails. Gordon Partners will soon break ground on an additional 10,000 square feet of office and medical space that is expected to be complete in the first quarter of 2022.
SAN ANTONIO — Dallas-based Encore Multifamily, a division of Encore Enterprises, will develop Encore Lower Broadway, a 386-unit project on a 4.2-acre site at the corner of East Grayson and North Alamo streets in San Antonio’s Pearl District. Units will feature one- and two-bedroom floor plans with an average size of 836 square feet. Amenities will include a pool, rooftop deck, dog park, fitness center, a clubhouse with an entertainment kitchen, coffee bar, media lounge, business center with a conference room, communal workspaces and a 24-hour package delivery system. Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt of Berkadia arranged $15.7 million in equity for the project, and Citizens Bank provided a $51 million construction loan. The groundbreaking is scheduled for August. Completion is slated for December 2023.
SHERMAN, TEXAS — Dallas-based investment firm Preston Forrest Capital has acquired a 518,700-square-foot industrial property that is situated on a 70-acre site in the North Texas city of Sherman. The building is situated within the 3,300-acre Progress Park master-planned development, which houses tenants such as Tyson Foods, Sunny Delight and Texas Instruments. The property was fully leased at the time of sale and serves as a regional distribution hub for CertainTeed Corp., an international building products manufacturer. Stan McClure of CBRE represented the seller, The State of Texas Permanent School Fund and General Land Office, in the transaction.
ALEDO, TEXAS — General contractor Satterfield & Pontikes is nearing completion of Annetta Elementary School, a $36.5 million project that will support about 800 students within the Aledo Independent School District. Aledo is located about 20 miles west of Fort Worth. The 107,391-square-foot project features grade-level pods with collaborative learning spaces and an open library with reading nooks and natural light that overlooks a learning hub. PBK served as the project architect, and Dunaway acted as the structural engineer. The development team expects the school to be open in August at the start of the fall 2021 semester.
FORT WORTH, TEXAS — Colliers Mortgage has provided a Fannie Mae loan of an undisclosed amount for the refinancing of Sedona Village, a 172-unit affordable housing property in Fort Worth. The property was built in 2012 and consists of five three-story buildings and a single one-story maintenance building. Colliers Mortgage originated the loan, which carried a 15-year term and a 30-year amortization schedule, on behalf of the borrower, Fort Worth Housing Solutions.
SAN ANTONIO — KM Realty Investment Trust Inc., a Houston-based REIT, has acquired City Base Commons, a 32,449-square-foot shopping center that is located on a 7.5-acre site south of downtown San Antonio. Locally based firm GFR Development sold the asset for an undisclosed price. City Base Commons was 95 percent leased at the time of sale to tenants such as Credit Human, Kung Fu Tea, Jimmy John’s, McAlister’s Deli, Raising Cane’s and Smoothie King.
PFLUGERVILLE, TEXAS — Atlanta-based developer Seefried Industrial Partners has completed a 3.8 million-square-foot warehouse and distribution center in the northern Austin suburb of Pflugerville. The name of the major online retailer that will occupy the property was not disclosed, but Amazon, which has engaged Seefried in the past for build-to-suit projects, had previously announced plans to open a major fulfillment center in Pflugerville. Features of the five-story building include 63 loading docks, 372 trailer stalls and 1,846 car parking stalls. CESO Inc. designed the property, with The Conlan Group and Jones/Carter respectively serving as the general contractor and civil engineer. According to the development team, the property is also currently the largest distribution warehouse in Texas.
SAN ANTONIO — Locally based firm Koontz Corp. will develop a 300-unit apartment project that will be located at the site of a former Regal Fiesta 16 movie theater at 12631 Vance Jackson Road in San Antonio. The 267,000-square-foot property, which will be situated on 10.3 acres, will feature one- and two-bedroom residences and amenities such as two pools and a dog park. Koontz Corp. will serve as developer and general contractor, and other project partners will include Garcia + Associates Architects and Pape-Dawson Engineers. Construction is expected to begin in early 2022 and to be complete some time in 2024. The property is currently being referred to as Fiesta Trails Apartment Community, but the developer plans to release a formal name and branding at a later date.
