DEER PARK, TEXAS — Logistics firm S.I. Warehousing Co. Inc., a subsidiary of St. Louis-based Slay Industries, has signed a 252,203-square-foot industrial lease at Monument Business Park in Deer Park, an eastern suburb of Houston. Monument Business Park consists of a 414,900-square-foot cross-dock building and a 194,610-square-foot front-load building that were completed in the fourth quarter of 2019. The buildings feature 32- to 36-foot clear heights and ample trailer parking. David Munson of Boyd Commercial represented the owner and developer, Molto Properties, in the lease negotiations. Kelley Parker, Coe Parker and John Littman of Cushman & Wakefield represented the tenant.
SCHERTZ, TEXAS — Hines Global Income Trust, an institutional investment arm of the Houston-based real estate giant, has acquired a 1.2 million-square-foot fulfillment center leased to Amazon in Schertz, located northeast of San Antonio. The property is situated along the Interstate 35 corridor. The seller and sales price were not disclosed.
DALLAS — San Antonio-based Kairoi Residential, in partnership with National Real Estate Advisors (NREA), is underway on construction of a 146-unit multifamily project at 2620 Maple St. in Uptown Dallas. The 12-story building will include 14 penthouse-level suites and will aim to capture the atmosphere of a boutique hotel with its various amenities. Completion is scheduled for September 2022.
HOUSTON — Marcus & Millichap has brokered the sale of Vanderbilt Lodge Apartments, a 105-unit multifamily complex located at 12660 Medfield Drive in West Houston. Jeffrey Fript and Christian Mazzini of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity. The new ownership will implement a value-add program to unit interiors and building exteriors.
SAGINAW, TEXAS — A partnership between management firm SilverPoint Senior Living and developer Journey Capital has begun construction on Edition Senior Living, a 93-unit community in Saginaw, a northern suburb of Fort Worth. The 6.1-acre property will consist of 22 independent living cottages, 54 assisted living units and 19 memory care residences. Residents will have access to resort-quality amenities, chef-prepared meals and concierge-style services. A tentative completion date was not disclosed.
SAN ANTONIO — Colliers Mortgage has provided a $6.2 million Fannie Mae acquisition loan for Bellevue at Windcrest, a 124-unit apartment community in San Antonio. Built in 1984, the property features one- and two-bedroom units and amenities such as a pool and onsite laundry facilities. Colliers originated the loan, which carried a 10-year term and a 30-year amortization schedule, through a partnership with Old Capital Lending for borrower Boardwalk at Windcrest LLC.
AUSTIN, TEXAS — Multinational computer software firm Oracle (NYSE: ORCL) will relocate its headquarters from Redwood Shores, Calif., to Austin, according to reports from multiple outlets including Business Insider and The Austin-American Statesman. Oracle, which has been based in Silicon Valley since its founding in 1977, opened its new Austin campus in 2018. Oracle’s commitment to Austin is the latest move by major tech firms to target the state capital for relocation or other sizable investment, following Tesla’s summer announcement to open a $1.1 billion manufacturing plant in Austin. Oracle’s stock price opened at $60.83 per share on Monday, Dec. 14, up from $54.60 per share a year ago.
SUGAR LAND, TEXAS — A partnership between Houston-based Buckhead Investment Partners and Zane Segal Projects has broken ground on Arista Riverstone, a 142-unit active adult community that will be located in the southwestern Houston suburb of Sugar Land. The four-story building will border a lake and connect to the walking trails within the Riverstone master-planned development. Additional amenities will include a fitness and wellness center, a pool, multiple game rooms and lounges, conference and craft rooms, multiple dog parks, a hair and nail salon and climate-controlled storage units. San Antonio-based Gonzalez Newell Bender Architects is designing the project. Galaxy Builders Ltd., also based in San Antonio, is the general contractor, and Greystar is the leasing agent. Move-ins are slated to begin in early May, with full completion scheduled for fall 2021.
PLANO, TEXAS — CBRE has negotiated a 103,750-square-foot office lease expansion for interactive fitness company Peloton at the 85-acre Legacy Central campus in Plano. Peloton, which moved into the building in 2018, is essentially quadrupling its original footprint and now occupies 131,268 square feet at the property. Michael Conner and Baron Aldrine of CBRE represented Peloton in the lease negotiations. Nathan Durham and Duane Henley of Transwestern represented the landlord, Regent Properties. Peloton reported sales growth of 232 percent in its most recent fiscal quarter, and the company’s stock price is up more than 300 percent for the year as consumers have sought alternative ways of exercising amid COVID-19.
FATE, TEXAS — Tyler, Texas-based owner-operator Brookshire Grocery Co. and the City of Fate, located northeast of Dallas, have broken ground on a 66,000-square-foot grocery store for Brookshire’s FRESH concept. The public-private partnership expects to complete the project in late 2021 and to bring about 200 new jobs to the community. The store will be Brookshire’s second under the FRESH brand, with the first opening in Tyler in 2011. The concept in Tyler includes authentic Japanese ramen and Vietnamese pho counters, a taco bar, coffee bar, patio dining and onsite public spaces with live music and play areas for children.