Texas

DWG Capital Partners Acquires Texas Industrial Property in Sale-Leaseback Transaction

by Taylor Williams April 12, 2021

COLUMBUS, TEXAS — DWG Capital Partners, a Los Angeles-based investment and advisory firm led by Judd Dunning, has acquired 1317 Business Highway 71 N. in Columbus, a light industrial facility located west of Houston. The 35,835-square-foot property was acquired from The Theut Co., a commercial glazing company and a division of Denver Glass Interiors, in a sale-leaseback transaction. Bryan Huber and Michael Soleimani of SAB Capital represented the tenant in the 17-year, absolute triple-net sale-leaseback transaction. Washington Federal Bank provided acquisition financing for the venture.

April 12, 2021

Affordable Housing Development Multifamily Texas

Housing Trust Group to Develop $22M Mixed-Income Community in Fort Worth

by Taylor Williams April 12, 2021

FORT WORTH, TEXAS — Florida-based Housing Trust Group (HTG) will develop Park Tower, a 90-unit mixed-income community in Fort Worth that is valued at $22 million. HTG is developing the property in partnership with the Texas Department of Housing & Community Affairs. The property’s 78 income-restricted units will be reserved for households earning less than 30, 50, and 60 percent of the area median income (AMI), while the other 12 units will be rented at market rental rates. Residences will features one-, two- and three-bedroom floor plans and will be furnished with quartz countertops, wood-style flooring and washer and dryer connections. Communal amenities will include a clubhouse/community room, business center/computer lab, fitness center, a courtyard and onsite laundry facilities. The design team includes San Antonio-based Overland Partners Architecture and Urban Design. Construction is scheduled to begin in February 2022 and to be complete by late 2023. Monthly rents at Park Tower will range from $400 to $2,000.

April 12, 2021

Industrial Loans Texas

JLL Arranges $48.5M in Financing for Industrial Portfolio in Dallas, San Antonio

by Taylor Williams April 12, 2021

DALLAS AND SAN ANTONIO — JLL has arranged $48.5 million in financing for a four-building, 505,719-square-foot industrial portfolio that includes cold storage space in Dallas and San Antonio. The portfolio includes two net-leased assets in infill submarkets at 3551 Dan Morton Drive in Dallas and 2001 S. Laredo St. in San Antonio that were acquired in January in a sale-leaseback with custom food manufacturer Surlean Foods. Christopher Drew, Maxx Carney, Reid Carleton, Jeremy Womack and Jarrod McCabe of JLL arranged the three-year, floating-rate loan on behalf of the borrower, MDH Partners. An undisclosed local bank provided the funds.

April 12, 2021

Build-to-Rent Midwest Multifamily Northeast Single-Family Rental Southeast Texas Video Walker & Dunlop Webinar Western

Webinar: Everything You Need to Know About the Single-Family Rental & Build-For-Rent Market

by Sarah Daniels April 9, 2021

On Apr. 7, France Media hosted the “Everything You Need to Know About the Single-Family Rental & Build-For-Rent Market” webinar, sponsored by Walker & Dunlop. The single-family rental (SFR) and build-for-rent (BFR) space has generated excitement throughout the commercial real estate world. This webinar brings together five expert panelists to answer the most pressing questions for this asset class: what to know about SFR and BFR verticals, issues and trends within the space, the sudden influx of institutional capital and where things might go from here. Click to hear more. See a list of some topics covered below: SFR and BFR markets definitions/size Factors driving growth (including changing demographic trends, COVID-19), occupancy levels and the most active markets SFR/BFR rental rates and the pipeline of new supply in the asset class Institutional capital/availability of financing/investment market layout for the SFR/BFR space Overview on managing and maintaining SFR/BFR products and portfolios Panelists: David Howard, National Rental Home Council (moderator) Keaton Merrell, Walker & Dunlop Mark Peterson, SVN | SFRhub Advisors Don Walker, John Burns Consulting Jon Ellenzweig, Tricon Residential Webinar sponsor: Walker & Dunlop strives to be the premier commercial real estate finance company in the country by providing financing solutions and investment sales to owners of …

April 9, 2021

Development Healthcare Texas

Signorelli Reveals Updated Site Plans for 200-Acre Medical District in Metro Houston

by Taylor Williams April 9, 2021

NEW CANEY, TEXAS — Locally based developer Signorelli Co. has revealed updated site plans for the Valley Ranch Medical District, a 200-acre campus within the firm’s Valley Ranch master-planned community located northeast of Houston in New Caney. Valley Ranch Medical District will consist of a 25-acre regional hospital with over 250 beds, a 13.7-acre medical school campus and a 21-acre medical research facility. A day surgery, pediatric clinic and approximately 28 acres devoted to medical offices will be included as well. The development will also include retail, restaurants and academic buildings. The detention and drainage for the entire development is scheduled to be complete in the next 120 days with site work for streets and utilities to follow immediately.

April 9, 2021

Development Multifamily Texas

Pearlstone, ATCO Properties to Develop 284-Unit Multifamily Project in Austin

by Taylor Williams April 9, 2021

AUSTIN, TEXAS — A partnership between Austin-based Pearlstone Properties and New York-based ATCO Properties & Management will develop Vesper, a 284-unit multifamily project that will be located in Austin’s historic Rainey Street District. The 41-story building will offer an average unit size of 975 square feet, with 10 units being reserved for households earning up to 80 percent of the area median income. Amenities will include a rooftop clubhouse, pool, outdoor kitchen, fitness center, dog park and coworking space. STG Design is the project architect, and McCray & Co. is the interior designer. Wuest Group is the civil engineer, and AECOM Hunt is the general contractor. Construction is expected to begin over the summer and to be complete in the first quarter of 2024.

April 9, 2021

Development Industrial Texas

CA Industrial to Build 200,000 SF Logistics Facility in Dallas

by Taylor Williams April 9, 2021

DALLAS — CA Industrial, a subsidiary of Chicago-based development and investment firm CA Ventures, will build a 200,000-square-foot logistics and last-mile delivery facility in the Great Southwest submarket of Dallas. The project, which will be branded 2700 Avenue K, will feature 36-foot clear heights, 33 dock doors, 190-foot truck court depths and abundant trailer parking. Construction is expected to begin this summer and to be complete in the second half of 2022. Stream Realty Partners represented CA Industrial in its acquisition of the land and will also handle leasing of the facility upon completion.

April 9, 2021

Industrial Leasing Activity Texas

Gulf Relay Signs 350,150 SF Industrial Lease in South Dallas

by Taylor Williams April 9, 2021

DALLAS — Gulf Relay, a third-party logistics company based in Mississippi, has signed a 350,150-square-foot industrial lease at Crossroads Trade Center 1 in South Dallas. The company currently operates out of Coppell, and the new lease raises its total footprint in the metroplex to roughly 460,000 square feet. Ward Richmond and James Ewing of Colliers International represented Gulf Relay in the lease negotiations. Kurt Griffin and Nathan Orbin of Cushman & Wakefield, along with internal agents Jack Stamets and Andy Lowe, represented the landlord, New York-based Clarion Partners.

April 9, 2021

Acquisitions Healthcare Texas

BGL Brokers Sale of 39,814 SF Healthcare Portfolio in Tyler, Texarkana

by Taylor Williams April 9, 2021

TYLER AND TEXARKANA, TEXAS — Brown Gibbons Lang & Co. (BGL), a global investment banking and financial advisory firm, has negotiated the sale of the 39,814-square-foot Precision Spine Care portfolio in Tyler and Texarkana. The portfolio consists of one clinical office and imaging center and one clinical office and ambulatory surgical center. BGL represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

April 9, 2021

Market Reports Retail Texas Texas Market Reports

Where Does the San Antonio Retail Market Stand One Year into the Pandemic?

by Taylor Williams April 9, 2021

By David Nicolson, president, Weitzman San Antonio In March 2020, health officials first used the term “pandemic” in reference to COVID-19. Since then, our communities, economy, commercial real estate industry and retailers and restaurants have gone through a year of challenges that few could have foreseen at the start of 2020. The fact that today we are in better shape than we could have predicted during the shutdown a year ago shows that the disruptions caused by the pandemic have been met with innovation, creativity and plain hard work. Here in San Antonio, those disruptions did result in a number of retail and restaurant closings. But since the second half of 2020, we’ve seen an upswing in tenant demand. In terms of closings, Sears closed its 150,000-square-foot store at South Park Mall and its approximately 134,000-square-foot store at Rolling Oaks Mall. With these store closings, Sears — once the nation’s largest retailer — no longer has a presence in the San Antonio market. Other closures include Stein Mart (three box vacancies), Pier 1 (five closed stores), Gold’s Gym (three closed locations) and Tuesday Morning (one closed location). Combined, these closings resulted in approximately 564,000 square feet of total vacancy being …

April 9, 2021

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