Wednesday, November 20, 2024
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AcquisitionsMultifamilyTexas

Bell Partners Acquires 831-Unit Gateway Crossing Apartments in Plano

by Taylor Williams

PLANO, TEXAS — North Carolina-based investment firm Bell Partners has acquired Gateway Crossing Apartments, a 831-unit multifamily community in Plano. Built in phases between 2013 and 2017, the property features one-, two- and three-bedroom units with an average size of 950 square feet. According to Apartments.com, amenities include multiple pools, a fitness center, clubhouse, game room, lounge, media center, pet play area, business center and outdoor grilling and dining stations. Daniel Baker of CBRE brokered the sale. The seller and sales price were not disclosed. Bell Partners plans to rebrand the property as Bell Gateway Village.

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Southern-Star-Logistics-Park-Midlothian
IndustrialLeasing ActivityTexas

Specialty Building Products Signs 550,000 SF Industrial Lease in Midlothian, Texas

by Taylor Williams

MIDLOTHIAN, TEXAS — A subsidiary of Specialty Building Products has signed a 550,000-square-foot industrial lease in Midlothian, a southern suburb of Dallas. The metro Atlanta-based building materials provider will occupy a full building at Southern Star Logistics Park, the site of which features dual rail service and 25 acres for outdoor storage. Jim Hazard and Barrett Bufkin of Cresa represented the tenant in the lease negotiations. Kacy Jones, Steve Koldyke and Brian Gilchrist of CBRE represented the landlord, Chicago-based Logistics Property Co., in conjunction with internal agents J.C. Hay and Max Mueller.

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AcquisitionsIndustrialSelf-StorageTexas

Versal Arranges Sale of 306-Unit Self-Storage Facility in Corpus Christi

by Taylor Williams

CORPUS CHRISTI, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a 306-unit facility in Corpus Christi. The property spans 41,848 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Andover Properties, which operated the facility under its Storage King USA brand, in the transaction. The team also procured the buyer, an undisclosed, publicly traded REIT.

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CivicDevelopmentTexas

Tellepsen Construction Underway on 17,450 SF Academic Project at Houston’s San Jacinto College

by Taylor Williams

HOUSTON — General contractor Tellepsen Construction is underway on the Center for Biotechnology, a 17,450-square-foot academic project on the campus of San Jacinto College in Houston. Designed by Pfluger Architects, the facility is a laboratory suite with an entry lobby fitted with lockers, a breakroom and workroom for students and staff. Completion is slated for May 2025.

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IndustrialLeasing ActivityTexas

Colliers Negotiates 10,533 SF Industrial Lease in Houston

by Taylor Williams

HOUSTON — Colliers has negotiated a 10,533-square-foot industrial lease in Houston. According to LoopNet Inc., the property at 7420 Wynnpark Drive was built in 1967 and totals 49,088 square feet. John Parsley and Jeff Peltier of Colliers represented the tenant, furniture provider Meredith O’Donnell Inc., in the lease negotiations. Boone Smith of Stream Realty Partners represented the undisclosed landlord.

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AcquisitionsMultifamilyTexas

IPA Negotiates Sale of 324-Unit Apartment Community in Little Elm, Texas

by Taylor Williams

LITTLE ELM, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The District in Little Elm, a 324-unit apartment community located on the northern outskirts of Dallas. The property was built on 10 acres in 2023 and includes 19 townhomes and 10,000 square feet of retail and restaurant space. Units come in one-, two- and three-bedroom floor plans. The amenity package comprises a pool, fitness center, dog park and spa, clubhouse, package lockers, private work pods, a coffee bar and grilling stations. Drew Kile, Taylor Hill, Michael Ware and Cameron Purse of IPA represented the seller, Palladium USA, in the transaction and procured the buyer, Quarry Capital.

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Leasing ActivityRetailTexas

Dick’s Sporting Goods to Open 100,000 SF ‘House of Sport’ Store in Live Oak, Texas

by Taylor Williams

LIVE OAK, TEXAS — Dick’s Sporting Goods will open a 100,000-square-foot “House of Sport” store at Live Oak Town Center, a shopping center development located on the northeastern outskirts of San Antonio. The space will feature a climbing wall, outdoor field, multiple golf bays and a multi-sport cage that can be used for baseball, softball, lacrosse and soccer. IKEA (300,000 square feet) and Floor & Décor (79,681 square feet) anchor Live Oak Town Center, which is being developed in phases and will ultimately feature more than 800,000 square feet of shopping, dining and entertainment space. A tentative opening date was not announced. Weitzman owns Live Oak Town Center.

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AcquisitionsOfficeTexas

Wellby Financial Buys 9.5 Acres in Southeast Houston for New Headquarters Facility

by Taylor Williams

HOUSTON — Credit union Wellby Financial has purchased 9.5 acres in southeast Houston for its new headquarters facility. The site is located near Baybrook Mall and about three miles from Wellby’s current headquarters office at 1330 Gemini St. The square footage of the new complex was not disclosed, but the project will be developed in phases, with construction scheduled to begin next year. Kelly Hutchinson of Colliers represented Wellby Financial in the land purchase. The seller and sales price were not disclosed.

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AcquisitionsMultifamilyTexas

Partners Real Estate Brokers Sale of San Antonio Apartment Building

by Taylor Williams

SAN ANTONIO — Partners Real Estate has brokered the sale of an apartment building in San Antonio’s Oak Park/Northwood neighborhood. According to Apartments.com, Riviera Apartments totals 20 units in studio, one- and two-bedroom floor plans and was built in 1965. Steve Garza and Justin Ventura of Partners represented the buyer, an entity doing business as SP 2118 Edgehill LLC, in the transaction. Diego Guevara of Core Commercial represented the undisclosed seller.

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Leasing ActivityOfficeTexas

Cima Cash Handling Signs 3,400 SF Lease at Industrial Flex Facility in West Houston

by Taylor Williams

HOUSTON — Cima Cash Handling America Inc., which provides computer hardware to count and track money, has signed a 3,400-square-foot lease at an industrial flex facility located at 15720 Park Row Drive in West Houston. According to LoopNet Inc., the building spans 28,800 square feet and was originally constructed in 1998. Jason Gibbons of the Finial Group represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

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