ARLINGTON, TEXAS — Dallas-based Darwin German Real Estate Investments has sold Brookside Apartments, a 288-unit multifamily community in Arlington. According to Apartments.com, the property was built in 1983 and offers one- and two-bedroom units ranging in size from 650 to 990 square feet. Amenities include a pool, clubhouse, business center, fitness center, a playground and outdoor grilling stations. The buyer and sales price were not disclosed.
STAFFORD, TEXAS — Chempak International, a locally based logistics firm, has signed a 156,726-square-foot industrial lease within Weatherford Industrial Park in the southwestern Houston suburb of Stafford. Anthony Squillante, Drew Coupe and Josh Morrow of Avison Young represented the tenant, which plans to take occupancy of the space early next year, in the lease negotiations. Walter Menuet, Barkley Peschel and Jason Scholtz of Colliers International represented the landlord, Crow Holdings.
DALLAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 79,359-square-foot industrial lease renewal at 5200 E. Grand Ave. in East Dallas. Josh Barnes and Canon Shoults with Holt Lunsford Commercial represented the landlord, City Warehouse, in the lease negotiations. Buddy Turner with Avison Young represented the tenant, Peachtree Stair Co. Inc.
AUSTIN, TEXAS — Cushman & Wakefield has brokered the sale of Wilder, a newly built, 381-unit apartment community in South Austin. Wilder features one- and two-bedroom units and amenities such as a pool with a lounge area, two dog parks with a pet washing station, fitness center with a private training room, gazebo will grilling stations, outdoor yoga space and a bowling alley. John Carr and Ben Fuller of Cushman & Wakefield represented the sellers, Hudgins Cos. and Maverick Development Group, in the transaction. Chicago-based Redwood Capital Group, in partnership with Pacific Life, acquired the asset for an undisclosed price.
IRVING, TEXAS — Total Office Solutions, a commercial moving and office furniture sales firm, has signed a 329,328-square-foot headquarters lease to occupy the entirety of Stadium Logistics Center, a newly built speculative development in Irving. The property spans 20 acres and features 192 trailer parking stalls and 300 car parking spaces. Robert Deptula and Collin Rock of Transwestern represented the tenant in the lease negotiations. Craig Jones and Randy Touchstone of JLL represented the landlord, California-based CT Realty. Total Office Solutions will also operate a showroom out of its new headquarters space.
DALLAS — Metro Boston-based Tremont Mortgage Trust (NASDAQ: TRMT) has provided a $50 million first mortgage bridge loan for the acquisition of 10000 NCX, a 15-story, 296,000-square-foot office building located at 10000 North Central Expressway in Dallas. Colliers International arranged the loan on behalf of the sponsor, Charter Holdings. The loan was structured with a three-year initial term and two one-year extension options that are subject to the borrower meeting certain conditions. According to its property page, 10000 NCX was built in 1986 and was 80 percent leased at the time of sale. The building also offers amenities such as a fitness center, deli, break room and onsite storage space. The seller was Dallas-based Westdale Real Estate.
HOUSTON — Bellomy & Co. has negotiated the sale of Houston Mini Storage, a 256-unit self-storage facility located about four miles north of downtown Houston. The property spans 34,660 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a Utah-based limited liability company, in the transaction. The duo also procured the buyer, a locally based entity doing business as Houston Mini Storage LLC.
PLANO, TEXAS — Locally based investment and financial services firm Provident Realty Advisors has sold Plano Commerce Park, a 176,000-square-foot industrial development located on the northern outskirts of Dallas. Plano Commerce Park consists of two buildings that comprise about 132,000 square feet of manufacturing and warehouse space and 44,000 square feet of office space. Stephen Bailey, Dustin Volz and Zach Riebe of JLL brokered the deal. The buyer was not disclosed. Plano Commerce Park was 100 percent leased at the time of sale.
AUSTIN, TEXAS — Stratus Properties Inc. (NASDAQ: STRS) has acquired land near the Texas State Capitol in downtown Austin with plans to develop Block 150, a 300-unit luxury apartment tower. Rising 400 feet at the corner of 12th and San Antonio streets, the project will span 420,000 gross square feet and include ground-floor retail space. Development costs are estimated at $185 million, according to the Austin American-Statesman. The scope of the project includes the historic A.O. Watson house, which will be renovated and expanded to offer resident amenities such as a restaurant, pool and garden. Built in 1894, the house was the personal residence of architect Arthur Osborn Watson. Construction on Block 150 is expected to begin in early 2023 with completion slated for mid-2025. Stratus Block 150 LP, a Texas limited partnership, will own the development. Financing for the land purchase and predevelopment is in place and includes a land acquisition loan in the amount of $14 million. The remaining predevelopment costs will be funded by approximately $21 million in equity contributed to the limited partnership by Stratus and private equity investors. Stratus will receive 25 percent of the limited partnership’s equity, in exchange for development costs to date …
HOUSTON — Goodman Manufacturing Co., a supplier of HVAC systems, has signed a 494,000-square-foot industrial lease to occupy more than half the space at Sam Houston Distribution Center, an 833,720-square-foot speculative development on the city’s northwest side. Seth Koschak of Stream Realty Partners represented the tenant in the lease negotiations. Brian Gammill, Darryl Noon, Jude Filippone and Carter Thurmond of Transwestern represented the landlord, a partnership between Transwestern Development Co. and J.P. Morgan Global Alternatives.
