AUSTIN, TEXAS — Dallas-based Mohr Capital has sold MetCenter Building III, a 160,000-square-foot industrial facility located at 7000 Metropolis Drive in southeast Austin that is fully leased to Amazon. The sale of the property, which is located within the 550-acre MetCenter business park, included the 20-acre adjacent parking lot. New Jersey-based Four Springs Capital Trust purchased the asset in an off-market transaction. The sales price was not disclosed.
HOUSTON — Watermark Retirement Communities and Hines have unveiled plans for The Watermark at Houston Heights, a 222-unit independent living, assisted living and memory care community in Houston’s Greater Heights neighborhood. The seven-story property will be the tallest building in the neighborhood and will feature views of the downtown Houston skyline. Two of the floors will be fully dedicated to amenity space. The development is scheduled for completion in January 2022. Project partners include Munoz + Albin Architecture & Planning as the design architect; Looney & Associates as the interior designer of common spaces; TBG Landscape Architects as the landscape architect; and Harvey Builders as the general contractor.
HOUSTON — NorthMarq has provided a $10.6 million Fannie Mae acquisition loan for Coral Island Apartments, a 316-unit multifamily property located on the city’s southwest side. According to Apartments.com, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, tennis court, basketball court, playground and walking trails. Travis Fite of NorthMarq originated the loan, which was structured with a 10-year term and a 30-year amortization schedule. The buyer was an undisclosed 1031 exchange investor. The seller was not disclosed.
HOUSTON — Tailift Material Handling, a subsidiary of Toyota specializing in small industrial vehicles such as forklifts and pallet trucks, has signed a 37,502-square-foot industrial lease at Interwood Distribution Center, a 341,692-square-foot development in Houston. The two-building property was completed in 2020. A joint venture between Holt Lunsford Commercial Investments and GID Real Estate Investments owns the property.
ROANOKE, TEXAS — Marcus & Millichap has brokered the sale of the 58-room Best Western Roanoke Inn & Suites in Roanoke, located north of Fort Worth in Denton County. Andrew Frosch, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a private investor, in the transaction. Gomes and Miller also procured the buyer, another private investor. Both parties requested anonymity.
SAN ANTONIO — Adolfson & Peterson Construction (AP Construction) will build a new 32,000-square-foot athletics facility at Coke R. Stevenson Middle School, part of the Northside Independent School District in San Antonio. The project includes the demolition of the existing athletics facility and the installation of new site utilities, landscaping and irrigation systems. The new building will house competition and practice gyms, as well as locker room facilities. NextGen Architects is designing the project, construction of which is expected to be complete in summer 2022.
DALLAS — A joint venture between Westdale Real Estate Investment & Management, Ivanhoe Cambridge and Hines has opened The Stack, a 16-story office building in the Deep Ellum area of Dallas. Designed by 5G Studio Collaborative, the property consists of 200,000 square feet of office space and 15,000 square feet of retail space. Amenities include a terrace with views of the Dallas skyline, fitness center, coffee and cocktail lounge, electric car charging stations and private tenant balconies. Hines plans to relocate its Dallas office to an 11,000-square-foot space within The Stack later this year.
HOUSTON — 29th Street Capital, a Chicago-based investment firm, has acquired Lincoln Medical Center Apartments, a 224-unit multifamily community located in the Med Center/Braes Bayou submarket of Houston. Built in 1990, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and a coffee bar. The new ownership will implement a value-add program and rebrand the property as Helix at Med Center. The seller was not disclosed.
HOUSTON — GCP Paper USA has signed a 235,845-square-foot industrial lease to occupy the entirety of Building 2 at Interwood Distribution Center, a 341,692-square-foot development in North Houston. Craig Bean and John Kruse of Holt Lunsford Commercial, which owns the property in a joint venture with GID Real Estate Investments, represented building ownership in the lease negotiations. Eric Hughes of Centermark Commercial Real Estate represented the tenant.
HOUSTON — NAI Partners has brokered the sale of a 30,194-square-foot industrial property located on a five-acre site at 3815 Hollister St. in northwest Houston. According to LoopNet Inc., the property was built in 1972. Michael Keegan and Andrew Laycock of NAI Partners brokered the deal. The buyer, seller and sales price were not disclosed.
