Texas

Easterly Government Properties to Acquire 10-Property VA Portfolio for $635.6M

by Katie Sloan October 14, 2021

WASHINGTON, D.C. — Easterly Government Properties Inc. (NYSE: DEA) has entered into an agreement to acquire a 1.2 million-square-foot, 10-property portfolio of facilities leased to the Department of Veterans Affairs (VA) for $635.6 million. The properties will be purchased in a joint venture with an undisclosed global investor, with Easterly retaining a 53 percent stake in the portfolio. Two of the properties are open, while the other eight are currently under construction. Acquisitions include: VA Chattanooga, a 94,566-square-foot Class A facility in Tennessee that was completed in November 2020. The property offers audiology, imaging, pathology, lab, dental and mental health services. VA Lubbock, a 120,916-square-foot facility in Texas completed in December 2020. The facility is located on the Texas Tech medical campus and features an ambulatory surgery center as well as general health, dental, audiology, ophthalmology, MRI, radiology, pharmacy, lab, physical therapy and mental health services. VA Lenexa, a 31,062-square-foot facility in Lenexa, Kan., that was delivered in May 2021. The property offers primary and specialty care, including audiology, dental, pathology and lab services, as well as radiology. VA San Antonio, a 226,148-square-foot development currently underway in Texas. The three-story facility will feature six patient aligned care team (PACT) modules …

October 14, 2021

Acquisitions Industrial Self-Storage Texas

Simply Self Storage Acquires 4,200-Unit Portfolio in Houston, Dallas

by Taylor Williams October 13, 2021

HOUSTON AND DALLAS — Simply Self Storage, an Orlando-based owner-operator whose holdings total roughly 80,000 self-storage units across 23 states, has acquired a portfolio of eight facilities totaling approximately 4,200 units in Houston and Dallas. Seven of the properties spanning about 620,000 net rentable square feet and 3,600 units are located in Houston, with a roughly a third of that inventory being climate-controlled space. The Dallas property spans 65,950 net rentable square feet and 600 units. The seller and sales price were not disclosed.

October 13, 2021

Civic Development Texas

Skanska Underway on 445,000 SF Renovation, Expansion of Tarrant County College Northwest Campus

by Taylor Williams October 13, 2021

FORT WORTH, TEXAS — General contractor Skanska is underway on the 445,000-square-foot renovation and expansion of the Tarrant County College Northwest Campus in Fort Worth. Huckabee is the architect of record for the project, and Gensler is providing additional design services. Design work consists of “re-skinning” three existing buildings and constructing four new ones. This approach will expand campus programs to incorporate an early college high school, classrooms and specialty labs, visitor welcome and administration, onboarding, and fine arts, learning commons, theater, music and multifunctional spaces. Completion is slated for 2025.

October 13, 2021

Acquisitions Multifamily Texas

Praedium Group Buys 330-Unit Lenox Grand Crossing Apartments in Metro Houston

by Taylor Williams October 13, 2021

HOUSTON — New York City-based investment firm The Praedium Group has purchased Lenox Grand Crossing, a 330-unit apartment community in the western Houston suburb of Katy that was built in 2020. Units within the 10-building community feature stainless steel appliances, granite countertops, tile backsplashes and full-sized washers and dryers. Amenities include a pool with cabanas, outdoor pavilion with grilling stations, recreational lounge with a pool table and bar seating, a fitness center, two dog parks and a package locker system. The seller was not disclosed.

October 13, 2021

Development Multifamily Single-Family Rental Texas

Banyan Residential Breaks Ground on 163-Unit Single-Family Rental Community in Kyle, Texas

by Taylor Williams October 13, 2021

KYLE, TEXAS — Los Angeles-based Banyan Residential has broken ground on Banyan Bunton Creek, a 163-unit single-family rental (SFR) community in Kyle, located in between Austin and San Antonio. Residences will feature two-car garages, fully landscaped backyards and modern interiors, and renters will have access to a pool with a splash pad and cabanas. Leasing is scheduled to begin early next year. An affiliate of Walton Street Capital is financing the project, which will be Banyan Residential’s second SFR community following the July opening of the 96-unit Banyan Kingsland Heights in Houston.

October 13, 2021

Acquisitions Industrial Texas

JLL Negotiates Sale of 93,945 SF Industrial Park in Sugar Land, Texas

by Taylor Williams October 13, 2021

SUGAR LAND, TEXAS — JLL has negotiated the sale of Commerce Center Sugar Land, a 93,945-square-foot industrial property located on the southwestern outskirts of Houston. Built between 2006 and 2007, Commerce Center Sugar Land consists of six buildings with warehouse, manufacturing and specialized lab space that feature 16- to 18-foot clear heights and a 37 percent office finish. Trent Agnew, Charles Strauss, Katherine Miller and Jack Moody of JLL represented the seller, an affiliate of Houston-based Griffin Partners, in the transaction. A subsidiary of ARKA Properties Group Inc. purchased the asset for an undisclosed price.

October 13, 2021

Acquisitions Multifamily Texas

CBRE Negotiates Sale of Three Multifamily Properties Totaling 466 Units in Metro Dallas

by Taylor Williams October 12, 2021

ARLINGTON AND CEDAR HILL, TEXAS — CBRE has negotiated the sale of three multifamily properties totaling 466 units in the Dallas area. The 186-unit Biltmore Apartments and the 248-unit Park Lane Apartments are located in Arlington, and the 32-unit Cedars Apartments is located in the southern suburb of Cedar Hill. Chris Deuillet and William Hubbard of CBRE represented the seller, Macdonald Realty, in the transaction. A partnership between Legacy REI and Casa REI purchased the properties for an undisclosed price.

October 12, 2021

Industrial Leasing Activity Office Texas

Diab Americas Signs 265,248 SF Headquarters Lease in DeSoto, Texas

by Taylor Williams October 12, 2021

DESOTO, TEXAS — Diab Americas LP, a Swedish manufacturer of core products for the marine and aerospace industries, has signed a 265,248-square-foot headquarters lease at I-20 Corporate Center in the southern Dallas suburb of DeSoto. The headquarters location consists of 242,248 square feet of warehouse space and 23,000 square feet of office space. Kevin Santaularia, Michael Spain and Michael Grant of Bradford Commercial Real Estate Partners represented the locally based landlord, 220 E. Danieldale Partners, in the lease negotiations. The tenant plans to take occupancy of the space in November.

October 12, 2021

Acquisitions Multifamily Texas

West Shore Acquires 322-Unit Sovereign Apartments in North Fort Worth

by Taylor Williams October 12, 2021

FORT WORTH, TEXAS — Boston-based multifamily investment firm West Shore LLC has acquired The Sovereign, a 322-unit apartment community in North Fort Worth. The property, which according to Apartments.com was built in 2015, offers one-, two- and three-bedroom units. Amenities include a pool, outdoor kitchen, dog park, fitness center, clubhouse and an auto detailing center. The seller and sales price were not disclosed. West Shore now owns and operates about 11,000 units across seven states following this acquisition.

October 12, 2021

Acquisitions Industrial Texas

Fort Capital Buys 49,441 SF Industrial Complex in Northeast San Antonio

by Taylor Williams October 12, 2021

SAN ANTONIO — Fort Worth-based investment firm Fort Capital has purchased a 49,441-square-foot industrial complex at 14309 Toepperwein Road in San Antonio. The Class B facility features 37 suites ranging in size from 799 to 3,120 square feet and is located about 1.2 miles from Interstate 35 on the city’s northeast side. The seller and sales price were not disclosed.

October 12, 2021

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