HOUSTON — General contractor Harvey Builders will construct a 115,000-square-foot manufacturing and office facility in Houston. Designed by Powers Brown Architecture, the facility will be situated on an 8.3-acre site within the Houston Spaceport campus on the city’s southwest side. The project will be a build-to-suit for Hamilton Sundstrand, a subsidiary of Collins Aerospace, and is expected to be complete in summer 2022. Houston-based Griffin Partners has been tapped as the development manager for the project, which is expected to add about 250 new jobs to the local economy.
TULSA, OKLA. — National Health Advisors (NHI) has purchased Brookhaven Hospital, a 64-bed facility in Tulsa, Okla., for $40.3 million. Behavioral health services provider Vizion Health, which treats patients who have suffered traumatic brain injuries, occupies the property on a 15-year lease. The seller was not disclosed.
By Lupita Gutierrez-Garza, principal, and Christian Gutierrez, senior associate, Southern Commercial Real Estate Group The impacts of COVID-19 on the retail sector in the Rio Grande Valley (RGV) have mirrored those of the rest of the country. However, the way the region responded was different from the way it addressed past crises, such as natural disasters, and even very different from past responses to local problems like peso devaluations and drug cartel activity along the border. The response was multifaceted and included many trial-and-error situations. But through sheer determination and quick thinking by local leadership, regional landlords and tenants managed to mitigate all the uncertainty to not only survive, but to thrive. What made a difference in the region was the behind-the-scenes build-up of its economic infrastructure that has slowly been chipping away at the inequities the region has endured for years. Infrastructure build-up has been ongoing for over a decade and has come in many forms, including education and medical, industrial and logistics, aerospace technology and wind energy. All of these sectors managed well during the peak of the pandemic and continued to expand at phenomenal paces. Their growth has piqued a lot of outside interest and investment …
ROUND ROCK, TEXAS — Switch Inc. (NYSE: SWCH), a Las Vegas-based data center developer and operator, has purchased land in the northern Austin suburb of Round Rock from Dell Technologies for the development of a 1.5 million-square-foot campus. The site is adjacent to Dell’s global headquarters campus. The property will be Switch Inc.’s fifth data center campus in Texas and will be known as The Rock. Switch Inc., which recently acquired Data Foundry, a provider of colocation services in Texas, expects to begin site preparation and permitting for the project this summer. The company also intends to power its new facility with 100 percent renewable energy.
DALLAS — Newmark has brokered the sale of Heritage One & Two, a 367,364-square-foot office complex located at the convergence of the Dallas North Tollway and LBJ Freeway in North Dallas. The two-building property sits on 12 acres and features amenities such as a fitness center, conference center and a café with outdoor seating. Gary Carr, Robert Hill, Chris Murphy, John Alvarado and Chase Tagen of Newmark represented the undisclosed seller in the transaction. The buyer was Oregon-based investment firm Menashe Properties. The complex was 75 percent leased at the time of sale.
RICHARDSON, TEXAS — Tampa-based investment firm ZMR Capital has acquired Chimney Hill Apartments, a 240-unit multifamily community located in the northeastern Dallas suburb of Richardson. The property offers a mix of one-, two- and three-bedroom units across 11 two-story buildings. Amenities include a pool with a lounge area, outdoor picnic and grilling stations, fitness center and a cybercafé. Brian Eisendrath of CBRE arranged an undisclosed amount of acquisition financing on behalf of ZMR Capital, which will implement a capital improvement program focused on unit interiors, amenity spaces and building exteriors.
FARMERS BRANCH, TEXAS — Colliers Mortgage has provided a Fannie Mae loan of an undisclosed amount for the refinancing of Villa Gardens, a 142-unit multifamily property located in the northern Dallas suburb of Farmers Branch. Built in 1969 and renovated between 2018 and 2020, the property consists of 16 two-story buildings that feature studio, one- and two-bedroom floor plans. Amenities include a pool, business center, picnic area and a children’s play area. Colliers Mortgage originated the loan through a partnership with Old Capital Lending on behalf of the borrower, an entity doing business as 2730 Villa Gardens LLC.
IRVING, TEXAS — CBRE has negotiated the sale of Spanish Trace, a 136-unit apartment complex in Irving. Built in 1968, the property offers one- and two-bedroom units, according to Apartments.com. Dallas-based Reap Capital purchased the asset from Lane Star Properties for an undisclosed price. Chris Deuillet and William Hubbard of CBRE brokered the deal on behalf of the seller, and William Givens and Robert Siddall of CBRE arranged acquisition financing on behalf of the buyer. Spanish Trace was 88 percent occupied at the time of sale. The new ownership will implement a value-add program and rebrand the community.
PFLUGERVILLE, TEXAS — JLL has negotiated the sale of Pecan 130 Business Park, a 239,952-square-foot industrial property located in the northern Austin suburb of Pflugerville. Constructed between 2013 and 2014, the two-building property sits on 15.3 acres and was 85 percent leased to seven tenants at the time of sale. Dustin Volz, Trent Agnew, Stephen Bailey, Dom Espinosa, Wesley Gilmer and Josh Villarreal of JLL represented the seller, Birtcher Anderson & Davis, in the transaction. Dogwood Industrial Partners, an affiliate of San Francisco-based TPG Real Estate Partners, purchased the asset for an undisclosed price.
MIDLAND, TEXAS — New York City-based Dwight Capital has provided a $34.3 million HUD-insured loan for the refinancing of Blue Ridge Apartment Homes, a 290-unit multifamily complex in Midland. Built in 2011, the property consists of 15 residential buildings and 16 ancillary buildings on a 15.5-acre site. Amenities include a business center, fitness center and a resident clubhouse. Brandon Baksh of Dwight Capital originated the financing. The borrower was not disclosed.