Texas

GFI Realty Services Arranges $11.3M Sale of San Antonio Warehouse

by Taylor Williams August 30, 2021

SAN ANTONIO — GFI Realty Services Inc. has arranged the $11.3 million sale of a 151,793-square-foot warehouse located at 7042 Industrial Way in southeast San Antonio. Building features include 24-foot clear heights, 74 dock-high doors and 84 trailer parking spaces. Joshua Peck and Susan Annis of GFI Realty represented the buyer, Atlanta-based investment firm MDH Partners, in the transaction. The seller and sales price were not disclosed. The property was 60 percent leased at the time of sale to tenants such as CEVA Logistics and Glazer’s Beer & Beverage.

August 30, 2021

Acquisitions Industrial Texas

M2G Ventures Acquires 141,658 SF Industrial Building in Arlington

by Taylor Williams August 30, 2021

ARLINGTON, TEXAS — M2G Ventures, a North Texas-based investment and development firm, has acquired a 141,658-square-foot industrial building located at 3500 Avenue E in Arlington’s Great Southwest submarket. The property sits on 8.6 acres and offers 18-foot clear heights, 148-foot truck court depths and 4,000 square feet of office space. M2G Ventures plans to implement a value-add program that will deliver storefront upgrades, roof repairs, enhanced power, lighting, landscaping and paving, as well as modern paint and exterior updates. The seller was not disclosed.

August 30, 2021

Leasing Activity Office Texas

Bestow Signs 42,000 SF Office Lease at The Stack in Dallas’ Deep Ellum District

by Taylor Williams August 30, 2021

DALLAS — Bestow, a provider of digital platforms for the life insurance industry, has signed a 42,000-square-foot office lease at The Stack, a 16-story office building that recently opened in the Deep Ellum area of Dallas. The lease term is 11 years. A joint venture between Westdale Real Estate Investment & Management, Ivanhoe Cambridge and Hines owns The Stack, which consists of 210,000 square feet of office space and 15,000 square feet of retail space. Houston-based Hines plans to relocate its Dallas office to an 11,000-square-foot space within the building.

August 30, 2021

Development Mixed-Use Texas

Midway Breaks Ground on 150-Acre East River Mixed-Use Development in Houston

by Taylor Williams August 27, 2021

HOUSTON — Houston-based developer Midway has broken ground on East River, a 150-acre mixed-use project that is located on the Buffalo Bayou in the city’s Historic Fifth Ward. Phase I will center around development of The Laura, a 360-unit apartment community, as well as 250,000 square feet of office space and 110,000 square feet of retail and restaurant space. In addition, the first phase, completion of which is slated for 2023, will include 13,000 square feet of open green space for public events and live music. Lastly, a nine-hole, par-three public golf course that includes a restaurant and patio bar will open at East River next year. Project partners include global design firm Page, OJB Landscape Architecture, civil engineer BGE Inc. and general contractor Burton Construction, among others. At full buildout, East River will span 60 city blocks and more than 1 million square feet of commercial and residential space that connects to the rest of the city via a network of hiking and biking trails.

August 27, 2021

Acquisitions Multifamily Texas

Bell Partners Acquires 339-Unit Apartment Community Near Downtown Austin

by Taylor Williams August 27, 2021

AUSTIN, TEXAS — North Carolina-based investment firm Bell Partners has acquired Lenox Boardwalk, a 339-unit apartment community located about two miles outside of downtown Austin. Built in 2018, the property offers an amenity package that includes a pool, fitness center and resident courtyards. The new ownership will rebrand the community as Bell Lakeshore. The deal marks Bell Partners’ fourth acquisition in Texas this year, including the 435-unit CityLine Park in metro Dallas and Lenox Springs and Lenox Meadows in Austin. The seller was not disclosed.

August 27, 2021

Acquisitions Industrial Office Texas

SkyWalker Property Partners Sells 113,046 SF Flex Building in Irving

by Taylor Williams August 27, 2021

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.

August 27, 2021

Acquisitions Multifamily Texas

Wellington Realty Arranges Sale of Two Apartment Complexes Totaling 112 Units in Irving

by Taylor Williams August 27, 2021

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.

August 27, 2021

Acquisitions Industrial Texas

Friedman Real Estate Brokers Sale of 95,000 SF Industrial Flex Building in Houston

by Taylor Williams August 27, 2021

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.

August 27, 2021

Acquisitions Industrial Texas

Westmount Realty Capital Sells 301,399 SF Industrial Property in Metro Dallas

by Taylor Williams August 26, 2021

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.

August 26, 2021

Acquisitions Multifamily Texas

IPA Arranges Sale of 300-Unit Celeste at La Cantera Apartments in San Antonio

by Taylor Williams August 26, 2021

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.

August 26, 2021

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