AMARILLO, TEXAS — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of The Medical Lodge of Amarillo, an 82-bed skilled nursing facility in Amarillo. The property was 45 percent occupied at the time of acquisition. This property brings Ensign’s portfolio to 227 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns 95 real estate assets.
HOUSTON — Edge Realty Partners has arranged the sale of a 17,150-square-foot medical office building located at 3222 Hillcroft Ave. in between Houston’s Uptown and Westchase neighborhoods. According to LoopNet Inc., the single-story property was built in 1969 and renovated in 2014. Micha Van Marcke and Chace Henke of Edge Realty Partners represented the undisclosed seller in the transaction. Other terms of sale were not released.
MESQUITE, TEXAS — Lee & Associates has negotiated a 442,035-square-foot industrial lease in the eastern Dallas suburb of Mesquite for Best Choice Products, an e-commerce firm that provides home furniture and other consumer goods. The company’s new fulfillment and distribution center will be located at 5151 Samuell Blvd., which is located near Interstate 30 and includes 7,600 square feet of office space. Reed Parker of Lee & Associates represented Best Choice Products in the lease negotiations. Nick Thomas represented the landlord, Prologis, on an internal basis. Nathan Orbin, Kurt Griffin and Ann Jaggers of Cushman & Wakefield marketed the property on behalf of Prologis. Best Choice Products has already hired 30 employees as part of the effort to make the facility operational in time for the holiday shopping season. The Tustin, Calif.-based firm expects to hire another 50 workers on a temporary, seasonal basis.
HOUSTON — JLL has brokered the sale of Willow Ridge Apartments, a 262-unit multifamily community located near Texas Medical Center in southwest Houston. Built in 1977, the property features one-, two- and three-bedroom units and amenities such as a pool, business center and a clubhouse. Joey Rippel, Chris Young and Kyle Whitney of JLL represented the seller, Houston-based Sentinel Capital LLC, in the transaction. Laura Sellingsloh of JLL originated a 10-year, fixed-rate Fannie Mae acquisition loan on behalf of the buyer, Alfa TX Investment Group. Willow Ridge has had an average occupancy rate of 93 percent over the past five years.
ARLINGTON, TEXAS — Dot It Restaurant Fulfillment has signed a 134,272-square-foot industrial lease at 4200 Empire Road in Arlington. The company is more than doubling its footprint of 60,000 square feet at its previous space at 2001 E. Randol Mill Road. Luke Davis and Matt Dornak of Stream Realty Partners represented the landlord, ML Realty Partners, in the lease negotiations. John Brewer and Riley Maxwell of Transwestern represented Dot It, which provides food safety products and print fulfillment solutions for the food and beverage industry.
STILLWATER, OKLA. — Marcus & Millichap has arranged a bridge loan of an undisclosed amount for the recapitalization and acquisition of a 475-bed student housing property located one block from Oklahoma State University in Stillwater. Todd McNeill and Jacob Rich of Marcus & Millichap arranged the 36-month, nonrecourse loan on behalf of the undisclosed borrower. The name of the property and direct lender were also not disclosed.
LUBBOCK, TEXAS — Locally based developer CMS Properties Inc. has broken ground on an 84,000-square-foot office project at 5107 82nd St. in Lubbock. The four-story, Class A building will feature 21,000-square-foot floor plates, suites that are divisible to 5,000 square feet and views that overlook Lakeridge Country Club. Coldwell Banker Commercial Capital Advisors is handling leasing for the project, which is expected to be complete in the first quarter of 2021.
HOUSTON — Locally based development and consulting firm Satya has broken ground on a dual Hyatt-branded hotel at 7329 Fannin St. in Houston. The site is located in a Qualified Opportunity Zone within the Texas Medical Center and will house a 159-room Hyatt Place hotel and a 139-room Hyatt House hotel within a 14-story building. Shared amenities will include multiple dining venues, two bars, a lobby workstation, pool and a fitness center. The project team include Dallas-based architecture firm G2 and general contractor E.E. Reed & Associates. IBC Bank provided financing for construction, which is expected to be complete in 2022.
FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated a 190,000-square-foot industrial lease at 2601 Sylvania Cross Drive in Fort Worth. According to LoopNet Inc., the property was built in 2003. Thomas Grafton and Matt Carthey of Holt Lunsford Commercial represented the tenant, packaging firm Global Co Pak LLC, in the lease negotiations. Andrew Ward with Mercantile Partners represented the landlord.
IRVING AND ALLEN, TEXAS — Marcus & Millichap has arranged the sale of the Royal Cornerstone Portfolio, which consists of two buildings in the DFW metroplex totaling 176,645 square feet. One of the properties is located in Irving, and the other is located in the northeastern suburb of Allen. The subject properties are situated on a combined 11.3 acres and were built in 1997 and 2000. Adam Abushagur and Sam Martin of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.