PLANO, TEXAS — Lee & Associates has negotiated a 91,580-square-foot industrial lease at 901 Jupiter Road in Plano. According to LoopNet Inc., the property was built in 1979, renovated in 2000 and spans 143,819 square feet. George Tanghongs and Brett Lewis of Lee & Associates represented the landlord, Jupiter Star LLC, in the lease negotiations. Nathan Lawrence of CBRE represented the tenant, Telemar Network Technology Inc., a provider of infrastructure for the telecommunications industry.
AUSTIN, TEXAS — Locally based investment firm Rastegar Property Co. has acquired The Edge at SoCo, a 35-unit apartment building located in the Buckingham Ridge neighborhood of South Austin. The property features one- and two-bedroom units and was 94 percent occupied at the time of sale. Rastegar will implement a value-add program that will deliver upgraded floors, cabinets and countertops to unit interiors, as well as improvements to the property exteriors and landscaping. The seller was not disclosed.
KYLE, TEXAS — Amazon has signed a lease to occupy a roughly 308,000-square-foot facility at Kyle Crossing Business Park in metro Austin, where the e-commerce giant will operate a sortation facility that will employ as many as 200 people. Majestic Realty, a developer based in Southern California, is the owner of the 40-acre Kyle Crossing Business Park, which is located just one block west of Interstate 35. The news follows Amazon’s announcement to open an 820,000-square-foot distribution center in Pflugerville, a northern suburb of Austin.
COLLEGE STATION, TEXAS — Oldham Goodwin Group has opened The Huntington at College Station, a 120-unit affordable seniors housing community in Central Texas. The property spans five acres and offers proximity to Baylor Scott & White Medical Center and the newly developed Midtown City Center mixed-use destination, as well as Texas A&M University. Units at The Huntington feature Whirlpool appliances, vinyl flooring and individual washers and dryers. Amenities include a clubroom with a kitchen area, resident library, business center, arts and crafts room, fitness center, putting green, bocce and pickleball courts and access to walking trails. Construction began in June 2019.
MINEOLA, TEXAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of Wood Memorial Nursing Home in Mineola, approximately midway between Dallas and Shreveport, La. An owner-operator based in Central Texas sold the property to a Texas-based regional owner-operator for $7.4 million. The skilled nursing facility was built in 1964 and features 115 total beds. Matthew Alley arranged the transaction for SLIB.
MONT BELVIEU, TEXAS — Colliers International has arranged the sale of Midstream Business Park, a 23,657-square-foot flux building in Mont Belvieu, about 30 miles east of Houston. Judd Harrison and Jason Tangen of Colliers represented the seller, Bellwether Interest LLC, in the transaction. Hart Schleicher of Capital Real Estate Commercial represented the buyer, Kimberlee Partners LP. The property was fully leased at the time of sale.
IRVING, TEXAS — Holt Lunsford Commercial has negotiated an 8,346-square-foot industrial lease at 8080 Tristar Drive in Irving. According to LoopNet Inc., the property was built in 1980 and totals 137,237 square feet. Canon Shoults, Josh Barnes and Maddy Canty with Holt Lunsford Commercial represented the landlord, KFG Investments, in the lease negotiations. Elizabeth Jones with JLL represented the tenant, Progressive Healthcare Solutions LLC.
HOUSTON — High Street Residential, a subsidiary of Trammell Crow, has broken ground on a 43-story apartment tower that will be located at 808 Crawford St. in downtown Houston, adjacent to the 12-acre Discovery Green urban park. The property will house one-, two- and three-bedroom floor plans, as well as 16 two-story townhomes and four two-story penthouses for a total of 309 units. Residences will feature floor-to-ceiling windows, quartz countertops and custom cabinetry. Amenities will include a rooftop pool and lounge area, clubroom with a catering kitchen, business center with coworking space, fitness center and a yoga terrace, indoor pet spa and a complimentary coffee bar, as well as package and concierge services. Completion is slated for late 2022.
DENTON, TEXAS — Investcor has completed the renovation of Fairhaven Assisted Living, a historic seniors housing building in Denton. The development team for the 47-unit project included Pi Architects, Coastal Reconstruction, Allison Engineering, TDi Engineering, MEP Associates Design Groups and Architexas. The original building was designed by Texas architect O’Neil Ford, whose designs blended the surrounding environment into the building and featured the use of natural elements and materials. Fairhaven was originally developed in the 1950s, but closed in 2007 and fell into disrepair. After teaming with New Haven Assisted Living and Memory Care, Investcor launched the renovation a year ago.
DALLAS — Younger Partners, a Dallas-based full-service real estate firm, has launched a new division for the acquisition of retail properties throughout the metroplex. Micah Ashford, a 20-year industry veteran and former partner at retail investment and brokerage firm Dunhill Partners, will lead the new division. Younger Partners considers the creation of a retail acquisitions team to be a critical part of its long-term strategy and believes that opportunities to buy distressed assets and create value will present themselves in the aftermath of the COVID-19 pandemic.