THE WOODLANDS, TEXAS — JLL’s Project & Development Services division has topped out Memorial Hermann The Woodlands Medical Center, a 365,000-square-foot medical office project located about 30 miles north of Houston. Construction of the nine-story building began in early 2020 and is expected to be complete in spring 2022. Austin Commercial is serving as the general contractor of the project. PhiloWilke served as the architect, and SSA was the engineer. JLL’s Project & Development Services division is leading development of the project along with Memorial Hermann Hospital System’s executive team.
HOUSTON — A partnership between locally based developer Boomerang Interests and CenterSquare, a global investment manager based in metro Philadelphia, will develop Houston ColdPort, a 315,101-square-foot speculative cold storage facility. Building features will include 50-foot clear heights, 38 fully automated dock positions, a 200-foot truck court, 57 trailer parking spaces and the ability to accommodate up to 40,000 pallet positions. Dallas-based design-build firm ARCO/Murray is designing and constructing the property, which will be able to support one or two tenants. Completion is scheduled for the second quarter of 2022.
FRISCO, TEXAS — Careington International Corp., a provider of medical and dental insurance, has opened a 75,000-square-foot office at 6435 Flyers Way in Frisco. The office space includes a call center, conference rooms, training rooms, quality assurance department space, an IT room, server room break room, open office space and executive offices. Dallas-based Merriman Anderson Architects designed the project, and Buckman Partnership Ltd. developed it. Careington has operated out of Frisco since 2001, and its employee based has grown from 60 to 425 during that stretch.
CARROLLTON, TEXAS — Midwest Hose & Specialty Inc., an Oklahoma City-based firm that services the energy, agriculture, mining and construction industries, has signed a 52,800-square-foot industrial lease renewal at 1132 Valwood Parkway in the northern Dallas suburb of Carrollton. Transwestern’s Brett Owens and Clayton Johnson represented the tenant in the lease negotiations. Mitch Pruitt handled negotiations internally on behalf of the landlord, Prologis.
NEW YORK CITY — New York City-based investment firm Manhattan Five Partners has acquired a portfolio of six multifamily properties totaling 2,167 units in the Dallas-Fort Worth metroplex. The properties were all built between 1970 and 1985 and include The Hangar, a 268-unit asset in Cedar Hill; Annex, a 267-unit complex in Mesquite; Forty200, a 512-unit community in Mesquite; Residence on Lamar, a 482-unit property in Arlington; Amp at the Grid, a 446-unit community in Arlington; and Current at the Grid, a 192-unit complex in Arlington. Taylor Snoddy, James Roberts and Philip Wiegand of NorthMarq represented the seller, Dallas-based S2 Capital Partners, in the transaction.
FORT WORTH, TEXAS — Locally based developer M2G Ventures has completed North Quarter 35, a 645,000-square-foot industrial project in Fort Worth. The Class A, cross-dock facility is located along Interstate 35 within the TexasAlliance Mobility Innovation Zone on the city’s north side. GSR Andrade designed the project, and FCL Builders served as the general contractor.
EULESS, TEXAS — Locally based developer Urban Logistics Realty will build Urban District 183, a three-building, 367,000-square-foot industrial project that will be located in the metroplex city of Euless. The project will be situated on the 22-acre site of the former Cooper’s Driving Range at the corner of Pipeline Road and Industrial Boulevard. Stream Realty Partners has been tapped to lease the development, which will consist of a 100,000-square-foot rear-load building, a 191,000-square-foot front-load building and a 75,000-square-foot side-load building. Construction is scheduled to begin in May and to wrap up in the second quarter of next year.
MONTGOMERY, TEXAS — New York City-based Dwight Capital has provided $23.6 million in HUD financing for Montgomery Trace & Stewart Creek Apartments, a 264-unit multifamily asset in Montgomery, about 50 miles north of Houston. Proceeds will be used to refinance existing debt. The property was built in two phases between 2005 and 2011 and features amenities such as three pools, a fitness center, resident clubhouse, playground and a dog park. Brian Yee of Dwight Capital originated the loan. The borrower was not disclosed.
OKLAHOMA CITY — A partnership between Fort Worth-based Corinth Land Co. and Dallas-based Prattco Creekway Industrial has purchased two industrial buildings totaling 121,600 square feet in Oklahoma City. The buildings are situated on a combined 14.3 acres on the city’s southwest side and are leased to tenants such as Fred Jones, Overhead Door Corp. and TireHub. Veritex Bank provided acquisition financing for the deal, and Western Product Co. contributed equity. The seller(s) was not disclosed.
SAN ANTONIO — California-based Investors Management Group (IMG) has purchased Encore281 Apartments, a 228-unit multifamily property in north San Antonio, for $33 million. The property features one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, clubhouse with a coffee bar, picnic area and a dog park. Sean Sorrell, Greg Toro and Robert Arzola of JLL brokered the deal, the seller of which was not disclosed. Charlie Mentzer of Capital One Multifamily Finance originated Freddie Mac acquisition financing for IMG, which plans to invest $1.2 million in capital improvements.