Texas

West-Gulf-Bank-Distribution-Center-Houston

Molto Properties Breaks Ground on 115,642 SF Distribution Center in Northwest Houston

by Taylor Williams March 26, 2021

HOUSTON — Illinois-based Molto Properties has broken ground on West Gulf Bank Distribution Center, a 115,642-square-foot industrial project located within Brookhollow West Business Park in northwest Houston. Building features include 97 car parking spaces, 24 trailer parking spaces, 28 loading docks and two drive-in doors and ramps. Nick Peterson and John Ferruzzo of Transwestern represented Molto Properties in its site selection and acquisition of the land. The duo also represented the developer in a subsequent sale of the land and building to moving company Armstrong Relocation, which plans to take occupancy of the building upon completion in September.

March 26, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 100-Unit Richelieu at Bluffview Apartments in Dallas

by Taylor Williams March 26, 2021

DALLAS — Marcus & Millichap has brokered the sale of The Richelieu at Bluffview, a 100-unit multifamily complex in Dallas. The property was built in 1963 and consists of 11 buildings situated on 3.3 acres. Al Silva and Ford Braly of Marcus & Millichap represented the seller, family of the original developer, in the transaction. The duo also procured a California-based 1031 investor as the buyer. Both parties requested anonymity.

March 26, 2021

Acquisitions Retail Texas

Phillips Edison Acquires 28,134 SF Shopping Center in Denton, Texas

by Taylor Williams March 26, 2021

DENTON, TEXAS — Phillips Edison & Co., a Cincinnati-based retail owner and developer, has acquired Hickory Creek Plaza, a 28,134-square-foot shopping center in the North Texas city of Denton. Shadow-anchored by Kroger, the center is leased to tenants such as Papa Murphy’s Pizza, Great Clips, H&R Block, Mathnasium, ATI Physical Therapy, Envy Nail Spa, Good Morning Donuts and Pizza Hut. The seller was not disclosed.

March 26, 2021

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 280-Unit A-1 Mini Storage Facility in Metro Houston

by Taylor Williams March 25, 2021

SPRING, TEXAS — Marcus & Millichap has brokered the sale of A-1 Mini Storage, a 280-unit self-storage facility in the northern Houston suburb of Spring that primarily offers climate-controlled space in. Brandon Karr, Danny Cunningham and Dave Knobler of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Other terms of sale were not disclosed.

March 25, 2021

Affordable Housing Development Multifamily Seniors Housing Texas

Cadence McShane Completes 197-Unit Affordable Seniors Housing Project in San Antonio

by Taylor Williams March 25, 2021

SAN ANTONIO — Cadence McShane, the metro Dallas-based general contractor that is a division of The McShane Cos., has completed Brookwood Senior Apartments, a 197-unit affordable housing project in San Antonio catering to senior citizens. Designed by B&A Architects, the six-acre property features one- and two-bedroom units. Amenities include a clubroom, fitness center, dining area, lounge, arts and crafts studio, game room, salon and self-storage rooms. Outdoor amenities include a pool, herb garden and two courtyards. The four-story, wood-frame property also houses carports and 224 parking spaces. San Antonio-based Mission GD developed the property, which is located at 9015 Ingram Road on the city’s west side, in partnership with the Texas Department of Housing & Community Affairs (TDHCA). Information on renter restrictions was also undisclosed.

March 25, 2021

MorningStar-Assisted-Living-&-Memory-Care-at-River-Oaks

Development Multifamily Seniors Housing Texas

MorningStar, Hines Near Completion of 112-Unit Seniors Housing Facility in Houston

by Taylor Williams March 25, 2021

HOUSTON — Denver-based operator MorningStar Senior Living and Houston-based real estate giant Hines are nearing completion of MorningStar Assisted Living & Memory Care at River Oaks, a 112-unit seniors housing facility in Houston. The six-story community will feature 85 assisted living residences and 27 memory care suites. The site is bordered by River Oaks, West University, The Texas Medical Center, Montrose, Downtown and the Galleria. The opening is set for this fall.

March 25, 2021

Leasing Activity Office Texas

Vinson & Elkins Signs 50,273 SF Office Lease at Indeed Tower in Downtown Austin

by Taylor Williams March 25, 2021

AUSTIN, TEXAS — Law firm Vinson & Elkins has signed a 50,273-square-foot office lease at Indeed Tower, a 673,000-square-foot office building under construction at 200 W. Sixth St. in downtown Austin. A joint venture between Trammell Crow Co. and Principal Real Estate Investors is developing the 36-story building, which is expected to be complete this summer. The law firm’s lease covers the entire 25h floor and part of the 26th floor.

March 25, 2021

Leasing Activity Office Texas

Cushman & Wakefield Negotiates 19,601 SF Office Lease in South Austin

by Taylor Williams March 25, 2021

AUSTIN, TEXAS — Cushman & Wakefield has negotiated a 19,601-square-foot office lease at Uplands Corporate Center in South Austin. Matt Frizzell and Kevin Granger of Cushman & Wakefield represented the landlord, San Francisco-based Drawbridge Realty, in the lease negotiations. The tenant, North Carolina-based engineering firm Kimley-Horn, will occupy part of a 124,080-square-foot building that is under construction and represents the second phase of the development.

March 25, 2021

Development Office Texas

Cawley Partners to Develop 600,000 SF Office Project in Frisco

by Taylor Williams March 24, 2021

FRISCO, TEXAS — Dallas-based Cawley Partners will develop Tate + Toll, a 600,000-square-foot office project that will be located just off the Dallas North Tollway at Warren Parkway in Frisco. Designed by BOKA Powell, the development will consist of two 12-story buildings and will offer amenities including a fitness center, conference center, rooftop lounge and food service. Cawley Partners is currently searching for a tenant with a requirement of at least 100,000 square feet to anchor the property and guide design of the project. Once a tenant is secured, the developer expects to spend about seven months in the design phase and to have an 18-month construction period.

March 24, 2021

Acquisitions Multifamily Texas

Worldwide Commercial Brokers Sale of 552-Unit Waterford Grove Apartments in Houston

by Taylor Williams March 24, 2021

HOUSTON — Frisco-based Worldwide Commercial has brokered the sale of Waterford Grove, a 552-unit apartment community in northwest Houston. According to Apartments.com, the property was built in 1973 and offers two-and three-bedroom units. Amenities include a fitness center, leasing office, pool, a dog park and an after-hours childcare program. The names of the New Hampshire-based buyer and locally based seller were not disclosed.

March 24, 2021

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