IRVING, TEXAS — SkyWalker Property Partners has sold a 113,046-square-foot flex building located on a 4.7-acre site at 6001 Campus Circle Drive W. in Irving’s Las Colinas district. The property previously served as a data center for Fidelity Investments before the current seller repositioned the building to include warehouse space. Zane Marcell, Chris Stout and Melissa Holland of JLL represented the seller in the transaction. Brett Lewis of Lee & Associates represented the buyer.
IRVING, TEXAS — Locally based brokerage firm Wellington Realty has arranged the sale of Sunrise Suites and Willow Bend, two apartment complexes totaling 112 units in Irving. The 52-unit Sunrise Suites was built in 1964, and the 60-unit Willow Bend was constructed in 1962. A locally based partnership sold the properties to an undisclosed buyer based in the Northeast that plans to implement a value-add program. David Shaffer, Caleb Jones and Will Miller of Wellington Realty brokered the deal.
HOUSTON — Friedman Real Estate has brokered the sale of a 95,000-square-foot industrial flex building in Houston. The property is triple-net-leased on a long-term basis to Alorica, a business process outsourcing firm that uses the building as a call center. Steven Silverman of Friedman Real Estate represented the undisclosed buyer in the transaction. The seller and sales price were also not disclosed.
GRAND PRAIRIE, TEXAS — Locally based development and investment firm Westmount Realty Capital has sold Fountain Parkway, a 301,399-square-foot warehouse and manufacturing facility located in the central metroplex city of Grand Prairie. The warehouse features 16 dock doors, five drive-in doors and 17.5-foot clear heights, and the entire facility offers 219 parking spots with the capacity for expansion to 532 spaces. Westmount first purchased the property in 1988. Bollinger Industries, a manufacturer of fitness equipment, was a long-term lead tenant at Fountain Parkway for many years until the property became a multi-tenant facility in 2007. Reed Parker and Adam Graham of Lee & Associates represented Westmount in the sale. The buyer was not disclosed.
SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Celeste at La Cantera, a 300-unit apartment community in San Antonio. Built in 2018 by USAA Real Estate and Cambridge Development Group, the property features one-, two- and three-bedroom units that are furnished with quartz countertops, stainless steel appliances and luxe plank flooring. Amenities include a rooftop pool, fitness center and a sky lounge. Will Balthrope and Drew Garza of IPA represented the seller/developer in the transaction and procured Churchill Forge Properties as the buyer. Nate Sittema, Kristen Reilley, Grant Harris and Elliot Voreis of CBRE arranged a 12-year, $39.9 million acquisition loan through a life insurance company on behalf of the new ownership.
FOREST HILL, TEXAS — Marcus & Millichap has brokered the sale of a 74,000-square-foot industrial building in Forest Hill, a southern suburb of Fort Worth. The property was built on 6.3 acres in 1985. Adam Abushagur and Faith Wilson of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
HOUSTON — Accounting firm Weaver has signed a 60,000-square-foot office lease for its new headquarters at Five Post Oak Park, a 28-story building in Houston’s Galleria district. Weaver will relocate from a 43,000-square-foot space at Wesleyan Tower beginning in May 2022. CP Group, a developer and operator of mixed-use projects throughout the Southern United States, recently purchased the building in partnership with Miami-based Rialto Capital.
CYPRESS, TEXAS — Weitzman has negotiated a trio of leases at Fry Springs Plaza, a 14,112-square-foot neighborhood retail center in the northwestern Houston suburb of Cypress. Cavity Patrol Pediatric Dentistry leased 2,275 square feet; Bastion Martial Arts signed a deal for 2,830 square feet; and Oasis Nail Bar committed to 2,100 square feet. Kyle Knight with Weitzman handled negotiations as the leasing agent for Fry Springs Plaza.
AUSTIN, TEXAS — Locally based developer Cumby Group will redevelop a site on Manor Road in East Austin with three adjacent projects that will collectively add more than 800 multifamily units, including 80 affordable housing residences, and 150,000 square feet of commercial space to the local supply. Cumby Group purchased the sites, which span nine acres and more than a full city block, in 2019 and 2020. Construction is underway on The Emma, a 146-unit project at 3219 Manor Road, and two buildings housing between 450 and 500 units, along with commercial space, are planned next door at 3115 Manor Road. Lastly, Cumby expects to build about 200 units at 3033 Manor Road. The projects will include space for neighborhood gatherings that could feature food trucks or farmers markets. The development’s affordable housing units will be reserved for renters earning 60 percent or less of the area median income.
SAN ANTONIO — New York City-based brokerage firm Rosewood Realty has arranged the $108.7 million sale of a portfolio of four multifamily properties totaling 1,230 units in San Antonio. The sales price equates to about $88,500 per unit. The properties were all built between 1964 and 1986. Aaron Jungreis of Rosewood Realty represented the buyer, New York-based Sun Equity Partners, in the transaction. Matt Yeckes and Jonathan Brody, also with Rosewood Realty, represented the seller, locally based development and investment firm Kairoi Residential. The deal traded at a cap rate of 4.96 percent.