Texas

Hunt Southwest Breaks Ground on 1 MSF Spec Industrial Project Near Port Houston

by Taylor Williams September 8, 2020

HOUSTON — Dallas-based developer Hunt Southwest has broken ground on Cedar Port Trade Center, a 1 million-square-foot speculative industrial project that will be located at the intersection of FM 1405 and Borusan Road in Houston. The property will be located within TGS Cedar Port Industrial Park near Port Houston on the city’s southeast side. Building features will include 40-foot clear heights, LED warehouse lighting, an ESFR sprinkler system and ample car and trailer parking space. The site includes an additional 25 acres for future expansion or parking needs. Powers Brown is the project architect, and E.E. Reed Construction is the general contractor. CBRE is the leasing agency. Completion is scheduled for March 2021. Other major industrial users within TGS Cedar Port Industrial Park include Walmart and IKEA.

September 8, 2020

Development Multifamily Seniors Housing Texas

Greystar Underway on 180-Unit Active Adult Multifamily Community in Fort Worth

by Taylor Williams September 8, 2020

FORT WORTH, TEXAS — Greystar is underway on development of Album Keller Ranch, a 180-unit active adult apartment community that will be located at 5640 Keller Ranch Road in Fort Worth. The property will offer one- and two-bedroom residences with granite countertops, stainless steel appliances, tile backsplashes, walk-in closets and private balconies and pet yards in select units. Amenities will include an outdoor space with a lounge, kitchen, pool, dog park and walking paths, as well as an indoor fitness center, TV lounge, game room and a media room. Charleston, S.C.-based Greystar expects to open the community in spring 2021.

September 8, 2020

Development Multifamily Texas

Wood Partners Opens 338-Unit Alta Med Main Apartment Community in Houston’s Texas Medical Center

by Taylor Williams September 8, 2020

HOUSTON — Multifamily developer Wood Partners has opened Alta Med Main, a 338-unit apartment community located within the Texas Medical Center in Houston. The property features one- and two-bedroom units and amenities such as a pool, business center, dog park, sky lounge with a kitchen area, fitness center with a yoga studio and a package handling room. Leasing is underway, and the first move-ins began earlier this month. Rents start at $1,275 per month for a one-bedroom unit and $2,415 per month for a two-bedroom unit.

September 8, 2020

Leasing Activity Office Texas

Crawford & Co. Inks 70,000 SF Office Lease in Metro Dallas

by Taylor Williams September 8, 2020

ALLEN, TEXAS — Crawford & Co., an Atlanta-based insurance servicer, has signed a 70,000-square-foot office lease in the northeastern Dallas suburb of Allen. The company is occupying space at a two-story building at 830 S. Greenville Ave. that was built in the 1990s and formerly housed the operations of HIT Entertainment. Avison Young represented the undisclosed landlord in the lease negotiations.

September 8, 2020

Industrial Leasing Activity Texas

Lone Star Holdings Signs 67,066 SF Industrial Lease Expansion in Dallas

by Taylor Williams September 8, 2020

DALLAS — Lone Star Holdings LLC has signed a 67,066-square-foot industrial lease expansion at 3276 Quebec St. in Dallas. According to LoopNet Inc., the property is situated on 4.4 acres in the West Brookhollow submarket and totals 128,240 square feet. Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the landlord, AEW Capital Management, in the lease negotiations. Jackson Hill with Fischer Co. represented the tenant.

September 8, 2020

Acquisitions Multifamily Texas

CONTI Organization Acquires 420-Unit Vine Apartments in Arlington

by Taylor Williams September 4, 2020

ARLINGTON, TEXAS — Dallas-based CONTI Organization has acquired Vine Apartments, a 420-unit community located at 711 Trinity Circle in Arlington. Built on 21 acres in 1980, the garden-style property consists of 23 three-story buildings housing one- and two-bedroom units. Amenities include a pool, fitness center, dog park, volleyball court and tennis courts. Daniel Baker and Chandler Sims of CBRE represented the undisclosed seller in the transaction. Including this transaction, CONTI’s portfolio consists of 31 multifamily properties totaling more than 9,000 units.

September 4, 2020

Acquisitions Multifamily Texas

Berkadia Brokers Sale of 150-Unit Scott Plaza Apartments in South Houston

by Taylor Williams September 4, 2020

HOUSTON — Berkadia has brokered the sale of Scott Plaza, a 150-unit apartment community located in the Sunnyside neighborhood in south Houston. The property was built in 1970 and features an average unit size of 858 square feet. Scott Bray, Ryan Epstein and Jennifer Ray of Berkadia represented the seller, Scott Plaza Associates Ltd., in the transaction. LEDG Capital, an investment firm with five offices across the country, purchased the asset for an undisclosed price.

September 4, 2020

Development Healthcare Texas

NexCore Group Breaks Ground on 110,374 SF Medical Office Building in Metro Houston

by Taylor Williams September 4, 2020

CYPRESS, TEXAS — Denver-based developer NexCore Group has broken ground on North Cypress Physician Office Building III, a 110,374-square-foot medical office building in the northwestern Houston suburb of Cypress. The four-story property will be located at 10425 Huffmeister Road on the HCA Houston Healthcare North Cypress campus. The facility is expected to open to the public in approximately one year.

September 4, 2020

Company News Texas

MLB Capital Partners Launches Full-Service Brokerage Division

by Taylor Williams September 4, 2020

HOUSTON — Houston-based investment firm MLB Capital Partners has launched MLB Commercial Real Estate, a full-service brokerage division. A team led by Todd Mason and Jeff Lindenberger, both of whom previously worked at Avison Young, will head the new branch. Specialty services will include tenant and landlord representation, investment sales and leasing for the industrial and self-storage sectors for the greater Houston market.

September 4, 2020

Acquisitions Multifamily Seniors Housing Texas

Heavenrich & Co. Arranges $5.3M Sale of Skilled Nursing Facility in Northwest Houston

by Taylor Williams September 4, 2020

HOUSTON — Heavenrich & Co. has negotiated the $5.3 million sale of Villa Toscana at Cypress Woods, a 120-bed skilled nursing facility in northwest Houston. Villa Toscana was built in 2009 on an 80-acre medical campus, anchored by the Kelsey-Seybold Clinic. Heavenrich & Co. represented the sellers, national owner-operator StoneGate Senior Living and an unnamed, publicly traded REIT. The buyer was O&M Investments, a private equity firm focused on skilled nursing. Villa Toscana’s occupancy was 76 percent at the time of sale.

September 4, 2020

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