HOUSTON — Chicago-based Brennan Investment Group has acquired a portfolio of seven industrial buildings in Houston totaling 123,800 square feet in Houston. The properties are located in the city’s Northwest, Southeast and North industrial submarkets. The tenant roster has a weighted average lease team of 4.68 years and includes users in the industrial equipment, industrial services, consumer goods, energy and construction industries. The seller and sales price were not disclosed.
DALLAS — McKinney, Texas-based Independent Financial has signed a 12,000-square-foot office lease at Rosewood Court in Uptown Dallas. The company plans to take occupancy of its new space on the 10th floor in September. Bill McClung of Cushman & Wakefield represented the tenant in the lease negotiations. Haley Collard represented the landlord, Dallas-based Rosewood Property Co., on an internal basis.
FLORIDA AND TEXAS — Waypoint Residential LLC, through several subsidiaries, has acquired land for the development of five multifamily projects in Florida and Texas. All told, the Class A, garden-style developments will comprise more than 1,350 units with a total capitalization surpassing $240 million. Four of the projects will be located in Florida, within the markets of Gainesville, Orlando, Stuart and Palm Bay. The Texas project will be located in suburban San Antonio. In Gainesville, Waypoint plans to build a 235-unit property on SW 20th Avenue. The community will be near several retail and entertainment options and seven miles from the University of Florida. Waypoint is planning a 312-unit community along Lake Wilson, about 25 miles south of downtown Orlando. The project will offer convenient access to Interstate 4, Highway 27 and Ronald Regan Parkway. The Stuart project, located directly off US-1, will feature 270 units. Stuart is located on the Atlantic Coast approximately midway between Miami and Orlando. The Palm Bay project will comprise 252 units. Palm Bay is situated within Florida’s “Space Coast” and near employers such as L3 Harris, Northrop Grumman, Lockheed Martin and Health First. The Texas development will be located in Boerne, about 30 miles …
By Taylor Williams E-commerce has revealed some fundamental truths about how humans consume goods, mainly that price point and convenience are by far the most important criteria in purchase decisions. The COVID-19 pandemic has served to further ingrain these mentalities and to suck more people into the world of online shopping in the name of adhering to public health guidelines. According to the U.S. Census Bureau, in 2020, a year in which a global health crisis spurred furious increases in online shopping, total e-commerce sales clocked in at $791.7 billion, up a staggering 32.4 percent from 2019. E-commerce sales accounted for 14.4 percent of all retail sales in 2020 — essentially double the 7.3 percent proportion in 2015. In addition, the National Retail Federation (NRF) is projecting that e-commerce sales will grow by 18 to 23 percent in 2021, yielding a total annual sales volume in excess of $1.1 trillion. Based on 2020 figures provided by the NRF, which cited total retail sales of just over $4 trillion, the e-commerce component is now poised to account for more than a quarter of the market. Especially in the early days of the pandemic, the need to minimize shopping trips and shelter …
FORT WORTH, TEXAS — CBRE has negotiated the sale of Interstate Crossing, a 1 million-square-foot fulfillment center in Fort Worth. Dallas-based Hunt Southwest developed the property, which provides immediate proximity to Interstates 820 and 35, on a speculative basis. Building features include 40-foot clear heights, 195-foot truck court depths and ample trailer and automobile parking. Jack Fraker, Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE represented Hunt Southwest in the transaction. The buyer was an undisclosed, publicly traded REIT.
PORTER, TEXAS — The Signorelli Co., the locally based developer behind the 1,400-acre Valley Ranch master-planned community, has opened Valley Ranch Self Storage, a 750-unit facility located in the northeastern Houston suburb of Porter. The three-story property has a gross square footage of 100,000 square feet and offers climate-controlled space. Units range in size from five-by-five feet to 10-by-30 feet, with units on higher levels accessible by elevator.
SAN ANTONIO — Berkadia has arranged a $33.9 million bridge loan for Timberhill Commons, a 340-unit apartment community in northwest San Antonio. Built in 2020, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center and a clubhouse. Charles Foschini of Berkadia arranged the financing through KeyBank Real Estate Capital on behalf of the borrower, an entity doing business as Timberhill Commons Ltd. The loan, proceeds of which will be used to repay construction debt, carried a three-year term, floating interest rate and a 70 percent loan-to-value ratio.
SAN MARCOS, TEXAS — New York City-based Dwight Capital has provided a $26.7 million HUD loan for the refinancing of Sadler House, a 240-unit multifamily asset in San Marcos, located roughly midway between Austin and San Antonio. The property was built between 2016 and 2018 and consists of seven residential buildings, seven garages and a leasing center/clubhouse. Amenities include a pool, fitness center, dog park and an outdoor courtyard and entertainment pavilion. Josh Hoffman and Alex Shoenfeld of Dwight Capital originated the financing on behalf of the undisclosed borrower.
COLLEGE STATION AND BRENHAM, TEXAS — Alliance Consolidated Group of Cos. has acquired a portfolio of net-leased medical office properties totaling 16,097 square feet in Texas for approximately $6 million. The portfolio consists of a 12,958-square-foot asset at 1730 Birmingham Road in College Station and a 3,139-square-foot property at 539 Medical Parkway in Brenham. Michael Moreno of Matthews Real Estate Investment Services represented the undisclosed seller in the deal. Texas ENT & Allergy is a tenant at both properties.
LEWISVILLE, TEXAS — Locally based developer Huffines Communities has sold Hebron 121 Station, a 1,429-unit apartment community located in the northern Dallas suburb of Lewisville. The 90-acre community is located near several major thoroughfares, including Interstate 35, State Highway 121 and President George Bush Turnpike. Hebron 121 Station was developed in phases, beginning with the delivery of 250 units in 2011. Amenities include four pools with beaches and swim-up bars, entertainment lounges, an onsite restaurant and convenience store, dog parks, outdoor kitchens, two fitness centers and a 10,000-square-foot clubhouse and leasing center. The buyer was EastSky Properties. The sales price was undisclosed.