Texas

IPA Negotiates Sale of 308-Unit Axis at The Rim Apartments in San Antonio

by Taylor Williams September 29, 2021

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Axis at The Rim, a 308-unit apartment community located within The Rim master-planned development in San Antonio’s Forest Crest neighborhood. Built on 10.5 acres in 2016, the property offers studio, one- and two-bedroom units and amenities such as a pool, fitness center and a courtyard. Will Balthrope and Drew Garza of IPA represented the seller, Chicago-based Sherman Residential, in the transaction. The duo also procured the buyer, an affiliate of Treeline Multifamily Partners Ltd.

September 29, 2021

Industrial Leasing Activity Texas

Good Sportsman Marketing Signs 494,238 SF Industrial Lease in Dallas

by Taylor Williams September 29, 2021

DALLAS — Good Sportsman Marketing, a designer and distributor of branded hunting accessories, has signed a 494,238-square-foot industrial lease at Passport Logistics Center in Dallas. The development spans 1.2 million square feet across three buildings and is located on the city’s north side. Blake Kendrick and Charles Brewer with Stream Realty Partners represented the landlord, Brookfield Properties, in the lease negotiations. Sarah Ozanne, also with Stream, represented the tenant.

September 29, 2021

Company News Texas

Regent Properties to Open Second Headquarters Office in Dallas

by Taylor Williams September 29, 2021

DALLAS — Regent Properties, a Los Angeles-based investment firm with roughly $1.8 billion in assets under management, will open a second headquarters office in Dallas. New and existing members of the corporate team, as well as senior investor relations and other investment personnel, will relocate to the new office at 2000 McKinney Ave. Regent CEO Eric Fleiss also said that the company plans to acquire “a significant amount of high-quality office product in the Sun Belt region,” in the coming months.

September 29, 2021

Loans Multifamily Texas

PCCP Funds $70.7M Acquisition Loan for Houston Apartment Community

by Taylor Williams September 28, 2021

HOUSTON — Los Angeles-based PCCP LLC has funded a $70.7 million acquisition loan for Millennium High Street, a 340-unit apartment community in the River Oaks area of Houston. Built in 2013, the property consists of four residential buildings, a parking garage and 26,304 square feet of retail space on a 6.3-acre site. The unit mix comprises 229 one-bedroom residences, 91 two-bedroom apartments and 20 three-bedroom units with an average size of 901 square feet. Units feature stainless steel appliances, contemporary countertops and individual washers and dryers. Amenities include a pool, fitness center, dog park and a rooftop lounge. The borrower was Miami-based Galium Capital. The seller was a partnership between The Dinerstein Cos. and Coventry Real Estate Advisors that also developed the property. Millennium High Street was 93 percent occupied at the time of the loan closing.

September 28, 2021

Acquisitions Industrial Texas

CBRE Negotiates Sale of Two Industrial Buildings Totaling 525,332 SF in Denton, Texas

by Taylor Williams September 28, 2021

DENTON, TEXAS — CBRE has negotiated the sale of Denton Crossing 3 and 4, two newly built industrial buildings totaling 525,332 square feet in the North Texas city of Denton. The first building spans 398,442 square feet and was fully leased at the time of sale, while the second structure totals 126,890 square feet and was vacant at the time of sale. The properties, both of which were built in 2020, feature 32- to 36-foot clear heights, ESFR sprinkler systems and immediate proximity to Interstate 35. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE represented the seller, Scannell Properties, in the transaction. The buyer was James Campbell Co., an investment firm based in Hawaii. The sales price was not disclosed. The new ownership has tapped Dallas-based Holt Lunsford Commercial to lease Denton Crossing 4.

September 28, 2021

Acquisitions Industrial Texas

JLL Arranges Sale of 431,710 SF Logistics Center at McKinney in Metro Dallas

by Taylor Williams September 28, 2021

MCKINNEY, TEXAS — JLL has arranged the sale of Logistics Center at McKinney, a 431,710-square-foot industrial property located in the northern Dallas suburb of McKinney. The development consists of two rear-load buildings totaling 129,914 and 301,796 square feet. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Pauli Kerr of JLL represented the seller, Atlanta-based Core5 Industrial Partners, in the transaction. Thor Equities Group purchased the property for an undisclosed price.

September 28, 2021

Development Industrial Texas

Vehicle Accessories to Relocate Corporate Headquarters to Mesquite, Texas, Create 315 Jobs

by Taylor Williams September 28, 2021

MESQUITE, TEXAS — Vehicle Accessories Inc., a manufacturer of automotive parts like splash guards, body side moldings and bumper protectors, will relocate its corporate headquarters to Mesquite, an eastern suburb of Dallas. The move is expected to bring about 315 new jobs and $30 million in total capital investment to the local economy. The company will consolidate its operations in Buffalo, Toronto, nearby Sunnyvale, Texas, and Magog (Quebec) into a build-to-suit, 310,000-square-foot building at Alcott Logistics Station. Vehicle Accessories plans to take occupancy of the building, which is being developed by Jackson-Shaw, by the end of 2022.

September 28, 2021

Leasing Activity Office Texas

MD7 Signs 25,000 SF Office Lease at One Bethany West in Allen, Texas

by Taylor Williams September 28, 2021

ALLEN, TEXAS — MD7, a provider of mobile infrastructure consulting services, has signed a 25,000-square-foot office lease in the northeastern Dallas suburb of Allen. The firm is relocating its headquarters from San Diego to One Bethany West, which is located on the 17-acre Watters Creek campus. The move is expected to bring about 200 new jobs and $6.8 million in capital investment to the regional economy.

September 28, 2021

Development Multifamily Single-Family Rental Texas

LYND, T.R. Inscore to Develop $35M Single-Family Rental Community in Waller, Texas

by Taylor Williams September 27, 2021

WALLER, TEXAS — San Antonio-based developer LYND and T.R. Inscore have formed a joint venture to develop single-family rental communities and will kick off the endeavor with a $35 million project in Waller, a northwestern suburb of Houston. The first phase of the development, which will be branded The Village at Waller, will consist of 118 units that will be constructed on a 14.7-acre site. The joint venture plans to potentially build as many as 700 homes on an additional 52 acres. Residences will feature two- and three-bedroom formats and range in size from 1,090 to 1,657 square feet. Communal amenities will include a pool, fitness center, dog park, playground and outdoor grilling areas. Rents will range from $1,600 to $2,250 per month.

September 27, 2021

Acquisitions Multifamily Texas Walker & Dunlop

Walker & Dunlop Arranges Sale of 369-Unit Vineyards Apartments in Metro Houston

by Taylor Williams September 27, 2021

KATY, TEXAS — Walker & Dunlop has arranged the sale of Vineyards, a 369-unit value-add apartment community in the western Houston suburb of Katy. Built in 2003, Vineyards features one-, two- and three-bedroom units and amenities such as a fitness center, business center and a playground. Scott Bray, Ryan Epstein and Jennifer Ray of Walker & Dunlop represented the seller, Atlanta-based Preferred Apartment Communities, in the deal. The buyer was Knightvest Capital, an investment firm with offices in Dallas, Houston, Phoenix and Raleigh.

September 27, 2021

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