Texas

Sparrow Partners, Welltower Break Ground on 188-Unit Active Adult Community in Metro Austin

by Taylor Williams June 10, 2021

GEORGETOWN, TEXAS — Austin-based developer Sparrow Partners and Ohio-based REIT Welltower (NYSE: WELL) have broken ground on Amberlin Georgetown, a 188-unit active adult community in Georgetown, a northern suburb of Austin. The property will feature one- and two-bedroom units ranging in size from 615 to 1,285 square feet and equipped with private terraces or fenced-in backyards. Amenities will include bocce and pickleball courts, a resort-style pool and sundeck, a fenced-in dog park, fitness center, game lounge, media lounge, community garden, library and a coffee bar. Each unit will rent for approximately $1,500 to $2,500 per month. The first move-ins are scheduled to begin next summer.

June 10, 2021

Loans Mixed-Use Texas

NorthMarq Arranges $11M Loan for Refinancing of Commercial Property in Austin

by Taylor Williams June 10, 2021

AUSTIN, TEXAS — NorthMarq has arranged an $11 million loan for the refinancing of The Collective, an 83,000-square-foot property located at 7601 S. Congress Ave. in Austin. The property features flexible space for warehouse, office and retail uses. John Morran and Gerald Logan of NorthMarq placed the nonrecourse, fixed-rate loan through a correspondent life company on behalf of the undisclosed borrower.

June 10, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 138-Unit Apartment Complex in Haltom City, Texas

by Taylor Williams June 10, 2021

HALTOM CITY, TEXAS — Marcus & Millichap has brokered the sale of Diamond Loch, a 138-unit apartment complex situated on 6.6 acres in the Fort Worth suburb of Haltom City. Nick Fluellen, Bard Hoover and David Fersing of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

June 10, 2021

Acquisitions Industrial Texas

Colliers Negotiates Sale of 24,924 SF Warehouse in Metro Dallas

by Taylor Williams June 10, 2021

FARMERS BRANCH, TEXAS — Colliers International has negotiated the sale of a 24,924-square-foot warehouse located at 13840 Denton Drive in the northern Dallas suburb of Farmers Branch. Jason Tangen and Barrett Gibson of Colliers represented the seller, H&B Development & Construction, in the transaction. Jake Dreyer of KW Commercial represented the buyer, Woodhill Investment Co.

June 10, 2021

Acquisitions Industrial Texas

KBS Sells 372,763 SF Southpark Commerce Center in Austin to BentallGreenOak

by Taylor Williams June 9, 2021

AUSTIN, TEXAS — California-based KBS has sold Southpark Commerce Center, a 372,763-square-foot industrial park in Austin, to institutional investment firm BentallGreenOak for an undisclosed price. Built in 1998, the four-building property was fully leased at the time of sale and features 24-foot clear heights and a 36 percent office finish. Trent Agnew, Dustin Volz, Dom Espinoza, Josh Villareal and Wesley Gilmer of JLL represented KBS in the transaction.

June 9, 2021

Development Industrial Texas

Cold Creek Solutions to Develop 305,000 SF Cold Storage Facility in San Antonio

by Taylor Williams June 9, 2021

SAN ANTONIO — Cold Creek Solutions, a cold storage developer based in the Dallas-Fort Worth area, will build a 305,000-square-foot facility at the intersection of Interstate 10 and Loop 410 in San Antonio. ARCO National Construction is designing the project, which will feature space for approximately 45,000 pallets of frozen or refrigerated product. Construction is set to begin this fall, and the facility is expected to be operational by late 2022.

June 9, 2021

Acquisitions Multifamily Texas

FCP, S2 Capital Acquire 308-Unit Oxford Park Apartments in Irving

by Taylor Williams June 9, 2021

IRVING, TEXAS — A partnership between Washington, D.C.-based investment firm FCP and Dallas-based S2 Capital has acquired Oxford Park Apartments, a 308-unit multifamily community in Irving’s Las Colinas district. Built in 1995, the property offers one-, two- and three-bedroom units and amenities such as a fitness center, business center and a resident clubhouse, according to Apartments.com. JLL represented the undisclosed seller in the transaction. The new ownership plans to implement a value-add program, including a rebranding of the property.

June 9, 2021

Leasing Activity Retail Texas

SuperNova Furniture to Open 40,000 SF Store at Brazos Town Center in Metro Houston

by Taylor Williams June 9, 2021

ROSENBERG, TEXAS — SuperNova Furniture will open a 40,000-square-foot store at Brazos Town Center, a 550-acre mixed-use development by local developer NewQuest Properties in Rosenberg, a southwestern suburb of Houston. The lease term is 10 years, and the store, which is located in a space formerly occupied by department store Gordman’s, is set to open this fall. The lease pushes the property’s retail occupancy rate to 98 percent. Joe Silver and Chris Pitts of Streetwise Retail Advisors represented the retailer in the lease negotiations.

June 9, 2021

Leasing Activity Office Texas

Granite Properties Signs Three Tenants to Office Leases Totaling 34,000 SF in Plano

by Taylor Williams June 9, 2021

PLANO, TEXAS — Development and investment firm Granite Properties has signed three tenants to office leases totaling 34,000 square feet at Granite Park, its office 90-acre development situated at the corner of the Dallas North Tollway and State Highway 121 in Plano. The tenants included The Point Group, a full-service marketing agency that was represented in the lease negotiations by Nick Lee and Jeremy Brubaker of NAI Robert Lynn; Digital.ai, a software application firm that was represented by Wills Bauer and Randy Cooper of Stream Realty Partners; and HNTB, an infrastructure solutions firm that was represented by Charles Daggett, Kris Knapstein and Dina Zavislak of Savills. Robert Jimenez and Aarica Mims represented Granite Properties on an internal basis.

June 9, 2021

Development Industrial Texas

HPI, City of Kyle to Develop Three Industrial Buildings Totaling 380,913 SF in Metro Austin

by Taylor Williams June 8, 2021

KYLE, TEXAS — Texas-based HPI Real Estate Services & Investments and the City of Kyle Economic Development Department will build three new industrial buildings totaling 380,913 square feet within Hays Commerce Center, a development located in the southern Austin suburb of Kyle. Hays Logistics Center 2, the first of the three new buildings that is being developed in partnership with Hillwood Investment Properties, will span 206,000 square feet and will feature a cross-dock configuration and 32-foot clear heights. Hays Logistics Center 3 will total 68,240 square feet and will offer speculative suites ranging from 11,800 to 68,240 square feet. Completion of this building is slated for the end of the year. Hays Logistics Center 4 will total 106,673 square feet and will also feature 32-foot clear heights. HPI also expects to complete this building before the end of the year.

June 8, 2021

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