HOUSTON — Marcus & Millichap has brokered the sale of Big Space Storage, a 279-unit self-storage facility in Houston. The property was built in 2016 and spans 137,760 net rentable square feet. Dave Knobler and Casey Kral of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a limited liability company. Both parties requested anonymity.
WACO, TEXAS — New York City-based Rosewood Realty Group has arranged the sale of Cottonwood Creek Apartments, a 260-unit multifamily community in Waco. The property features one-, two- and three-bedroom units with designer finishes, walk-in closets, individual washers and dryers and private balconies/patios. Amenities include a pool, outdoor grilling area and a pet playground. Jonathan Brody of Rosewood Realty represented the seller, Continental Properties, and procured the buyer, Borei Olam Management. The sales price was not disclosed.
AUSTIN, TEXAS — Bellwether Enterprise Real Estate Capital has provided a $32.6 million Freddie Mac permanent loan for the construction of Austin Colorado Creek, a 240-unit affordable housing project at 2917 Falwell Lane on the city’s east side. The property will offers one-, two-, three- and four-bedroom units and amenities such as a pool, clubhouse, business center and a playground. A majority of the units (192) will be reserved for renters earning 60 percent or less of the area median income (AMI) and 48 will be reserved for renters earning 50 percent or less of AMI. Phil Melton and Cindy Hannon of Bellwether originated the financing. The borrower was not disclosed.
AUSTIN, TEXAS — Bellwether Enterprise Real Estate Capital has provided a $42.6 million Freddie Mac permanent loan for the construction of Austin Manor, a 280-unit affordable housing project in East Austin. All of the units will be reserved for renters earning 60 percent or less of the area median income. Austin Manor will offer amenities such as a 6,000-square-foot clubhouse, pool, sports court and a playground, as well as family support services including counseling, adult education, health and nutrition courses and youth programs. Phil Melton and Cindy Hannon of Bellwether originated the loan. The borrower was not disclosed.
LEANDER, TEXAS — Allied Orion Group is nearing completion of The Southbrook, a 360-unit multifamily project that will be located in the northern Austin suburb of Leander. Designed by Dallas-based Humphreys & Partners Architects, the property will offer one, two- and three-bedroom floor plans and amenities such as a pool, fitness center, resident lounge with billiards tables, dog park, courtyard and package delivery services. The first units are expected to be available for occupancy in the fourth quarter.
MESQUITE, TEXAS — Stream Realty Partners has negotiated a 203,040-square-foot industrial lease at Urban District 30 in the eastern Dallas suburb of Mesquite. For the tenant, online light bulb retailer 1000Bulbs.com, the lease represents an expansion of 60 percent of its previous warehouse capacity. Matt Dornak and Drew Feagin of Stream Realty Partners represented the landlord, Urban Logistics Realty, in the lease negotiations. Blake Kendrick and Seth Koschak, also with Stream Realty Partners, represented the tenant. At full completion, which is slated for the fourth quarter, Urban District 30 will total approximately 977,000 square feet across five buildings.
OKLAHOMA CITY — New Jersey-based Monmouth Real Estate Investment Corp. has acquired a 120,780-square-foot industrial building at 6101 SW 44th St. in Oklahoma City for $15.2 million. The property is situated on 22 acres and is net-leased to Amazon.com Services LLC for 10 years. According to LoopNet Inc., the property was built in 2019 and features 30- to 32-foot clear heights and a 5 percent office finish. The seller was not disclosed.
HOUSTON — McCord Development will build a 101,000-square-foot medical office building within Redemption Square, a mixed-use district within the 4,200-acre Generation Park master-planned development in northeast Houston. Designed by Kirksey Architecture, the five-story building will feature a glass façade with views of the adjacent West Lake Park, ground-floor locker rooms with showers and access to Generation Park’s network of hiking trails. McCord expects to begin construction next year and to complete the project in 2023.
DALLAS — California-based CT Realty has acquired an 18.4-acre infill site in the South Stemmons submarket of Dallas for the development of Stadium Logistics Center, a 329,402-square-foot industrial project that is valued at $40 million. Offering 470 feet of frontage on U.S. Highway 183 just west of the I-35 Stemmons Freeway, the site is located within 7.5 miles of both Dallas Love Field Airport and DFW International Airport. Stadium Logistics Center will feature 36-foot clear heights and a front-park/rear-load configuration. Pross Design Group is the project architect, and Talley Riggins Construction Group is the general contractor. California Bank & Trust provided construction financing. CT Realty expects to break ground later this month and to deliver the project in September 2021. Mike McElwee of Avison Young represented the seller, NCH Corp., in the land deal. Craig Jones and Randy Touchstone of JLL represented CT Realty and will also market the project for lease.
ALLEN, TEXAS — McCarthy Building Cos. has completed construction of Collin College Technical Campus, a 340,000-square-foot civic project located in the northeastern Dallas suburb of Allen. The four-building complex will serve more than 7,000 students and includes 42,000 square feet of shared classroom space for the Allen Independent School District. In addition, the facility features 192,000 square feet of technical and trade classrooms with open lab spaces, mechanical electrical and plumbing shops, welding shops, auto shops, and carpentry shops as well as campus support areas. According to local newspaper The Allen American, this campus of the public college currently has an enrollment of about 1,650 students that are taking both online and in-person classes.