HOUSTON — Seismique, an art museum operator that features high-tech and interactive exhibits, has opened a 40,000-square-foot venue at 2306 Highway 6 S. in Houston for its first location in Texas. The venue, which features 40 galleries with experiential exhibits, officially opened on Dec. 26. Jason Gaines of NAI Partners represented Seismique in the lease negotiations. The name and representative of the landlord were not disclosed.
MCKINNEY, TEXAS — Chicago-based Draper & Kramer has acquired Adriatica Senior Living, a 121-unit community located in the northern Dallas suburb of McKinney. The property was built in 2017 and features one- and two-bedroom units that range in size from 806 to 1,370 square feet. Amenities include a community dining room, resident lounge for socializing, beauty salon, business center, movie room, wellness studio and a game room. The seller was not disclosed.
HOUSTON — Miami-based lender 3650 REIT has provided a $31 million construction loan for an office and retail project that will be located at 4411 San Felipe St. in Uptown Houston. The property will consist of three floors of office space and ground-floor retail space. Michael Fleischer and Shin Bowers of 3650 REIT originated the 30-month loan to DC Partners, a Houston-based developer. Completion is slated for January 2022.
HOUSTON — Cadence Bank has signed an 82,215-square-foot office lease at Park Towers, a 545,242-square-foot office complex in Uptown Houston. The property consists of two 18-story buildings and offers amenities such as a fitness center, conference facility, tenant lounge with a golf simulator and a drive-thru coffee shop that is currently under construction. Doug Little, David Baker, Kelli Gault and Jack Scharnberg of Transwestern represented the landlord, Regent Properties, in the lease negotiations.
ADDISON, TEXAS — NAI Robert Lynn has arranged the sale of Inwood Soccer Center, a 56,000-square-foot industrial and office building in the northern Dallas metro of Addison. The buyer, Cherry Coatings, will occupy the building as its new headquarters and retrofit the property to house 75 corporate employees, as well as a large warehouse with loading docks. Chad Albert of NAI Robert Lynn represented Cherry Coatings, which plans to relocate to the property from nearby Carrollton this year, in the deal. The seller was not disclosed.
HURST, TEXAS — Colliers International has brokered the sale of Norwood Plaza, an office building located in the Fort Worth suburb of Hurst. According to LoopNet Inc., the property totals 44,245 square feet. Norwood Plaza was fully leased to 27 tenants at the time of sale. The buyer and seller both requested anonymity. Mark Allen and Cody Payne of Colliers International brokered the deal.
SAN ANTONIO — Amazon (NASDAQ: AMZN) will open three industrial facilities totaling 2.1 million square feet in the San Antonio area over the next two years. Combined, the three new facilities are expected to bring about 1,500 new jobs to the market. The Seattle-based e-commerce giant will open a 1 million-square-foot fulfillment center in 2021 and a 750,000-square-foot fulfillment center in 2022, as well as a 350,000-square-foot delivery station at 8210 Aviation Landing. After items are sorted and at fulfillment centers, they are transported to delivery stations for last-mile distribution to customers. The developers and sites of the fulfillment centers were not disclosed.
AUSTIN, TEXAS — Texas-based developer Presidium and global investment manager Partners Group have unveiled plans for River Park, a 109-acre mixed-use project that will be located on East Riverside Drive near Oracle’s newly announced headquarters campus. The new master plan for the project calls for more than 10 million square feet of commercial and residential space across office, retail, hospitality, entertainment and multifamily uses. The residential component will also include 400 affordable housing units. River Park will be a multi-phase project that is expected to take 10 to 20 years to fully build out. A new street network of short, pedestrian-friendly blocks and trail connections will link the various uses and connect to the surrounding neighborhood and a new multimodal transit hub. Gensler is leading the design of the project. The team anticipates beginning construction with a 15-acre portion along the southeastern side of the site.
COLLEGE STATION, TEXAS — Newmark has brokered the sale of Northpoint Crossing, a 1,842-bed student housing community serving Texas A&M University in College Station. The 627-unit property was developed in 2014 and 2015 and is located across the street from the north corner of campus. Units feature studio, one-, two-, three- and four-bed floor plans. Amenities include two fitness centers, two computer labs, a 24-hour clubhouse, game rooms, outdoor grilling stations, sauna and steam rooms and a rooftop terrace. Ryan Lang, Jack Brett and Ben Harkrider of Newmark represented the sellers, Woodridge Capital and funds managed by Oaktree Capital Management LP, in the transaction. Both entities are based in Los Angeles. A joint venture between affiliates of global investment manager Ares Management Corp. and New York-based private equity firm Timberline Real Estate Ventures purchased the asset for an undisclosed price.
SAN ANTONIO — California-based investment firm Passco Cos. has acquired Lenox Overlook, a 338-unit apartment community in north-central San Antonio. Built in 2019, the property features one-, two- and three-bedroom residences averaging 861 square feet. Units are furnished with stainless steel appliances, quartz countertops, individual washers and dryers and private balconies/patios. Communal amenities include a pool with a sundeck and swim-up bar, indoor and outdoor fitness centers, a dog park with a wash station, clubhouse with billiards and TVs and a business center. Patton Jones of Newmark represented Passco in the transaction. The seller and developer was Austin-based Oden Hughes. Caleb Marten of KeyBank Real Estate Capital arranged acquisition financing on behalf of Passco, which has also rebranded the community as TruNorth at Bulverde.