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.
SUGAR LAND, TEXAS — A local developer doing business as LJ Parkway LLC has sold Riverstone Plaza, a 28,000-square-foot retail center in the southwestern Houston suburb of Sugar Land. Built in 2018, the property was 98 percent leased at the time of sale to a roster of 16 tenants that includes salons, medical services, a learning center and restaurants. Marc Peeler of NewQuest Properties represented the seller in the transaction. Bob Yuanjie of Ping Management LLC represented the undisclosed, locally based buyer.
FORT WORTH, TEXAS — Hillwood will develop Alliance Center East 1, a 1.2 million-square-foot speculative industrial project that will be located within the company’s AllianceTexas master-planned community in Fort Worth. Building features will include 40-foot clear heights, 190-foot truck court depths, 236 car parking spaces and 271 trailer parking spaces. The site can be expanded to offer parking for as many as 1,438 cars and 511 trailers. RGA Architects is designing the project, and Hillwood Construction Services is serving as the general contractor. Frost Bank provided financing for construction, which is scheduled to begin in July and be complete in the second quarter of 2022. According to the development team, Alliance Center East 1 will be the largest speculative building that Hillwood has developed in its 30-year history.
ALLEN, TEXAS — Dalcor Cos., a Dallas-based development and management firm, is underway on Watterscape Urban Residential, a 469-unit apartment community that will be located in the northeastern Dallas suburb of Allen. The property will offer studio, one- and two-bedroom units with stainless steel appliances, granite countertops and keyless entry mechanisms. Amenities will include a pool, fitness center, business center, collaborative work areas and a dog spa. Moss Construction Group, in a joint venture with Landmark, is the general contractor for the project, which is expected to be complete in December 2022.
FORT WORTH, TEXAS — Locally based general contractor KWA Construction has completed Phase II of Columbia Renaissance Square, a project that added 120 units of affordable seniors housing to the local supply. Developed by Columbia Residential and designed by JHP Architecture, the property features one- and two-bedroom floor plans with full-sized kitchens, espresso cabinetry and vinyl plank flooring. Amenities include a clubhouse with a catering kitchen, business center, fitness center, wellness room, theater room and a landscaped gazebo and courtyard. Phase I of the project consisted of 140 units, 85 percent of which were affordable.