Thursday, October 3, 2024
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AcquisitionsMultifamilyTexas

Partnership Acquires Houston Multifamily Portfolio for $60M

by Taylor Williams

HOUSTON — A partnership between Los Angeles-based Ascendant Capital Partners and Dallas-based Culver Investment Partners has acquired a portfolio of three apartment communities totaling 470 units near Texas Medical Center in Houston for $60 million. Known as the Elle Collection, the portfolio includes Elle at the Medical Center, Vie at the Medical Center and Plaza Townhomes at the Medical Center. The seller was not disclosed. The new ownership plans to implement capital improvement programs at each of the properties.

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IndustrialLeasing ActivityTexas

Holt Lunsford Negotiates 100,000 SF Industrial Lease in West Dallas

by Taylor Williams

DALLAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 100,000-square-foot industrial lease in West Dallas. According to LoopNet Inc., the building at 8611 Ambassador Row was built in 1955. Canon Shoults and Maddy Canty of Holt Lunsford represented the owner, Toronto-based Oxford Properties, in the lease negotiations. Cameron Rogers of Rubicon Representation represented the tenant, Nelson Cos. Ones LLC.

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AcquisitionsIndustrialTexas

Newmark Brokers Sale of 52,456 SF Industrial Property in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Newmark has brokered the sale of Spring Creek Business Park, a 52,456-square-foot industrial property in the northeastern Dallas suburb of Richardson. According to LoopNet Inc., the building at 1111 Digital Drive was constructed on 3.6 acres in 1983 and features 18-foot clear heights. Sara Fredericks of Newmark represented the seller, Adima US LLC, in the transaction. Morgan Realty Group represented the buyer, an entity doing business as BBE Phoenix Fund LP.

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IndustrialLeasing ActivityTexas

SRS Distribution Signs 52,015 SF Industrial Lease in Humble, Texas

by Taylor Williams

HUMBLE, TEXAS — SRS Distribution Inc. has signed a 52,015-square-foot industrial lease in the northern Houston suburb of Humble. According to LoopNet Inc., the building at 19054 Kenswick Drive was built on 6.6 acres in 2011, and the lease is for the entirety of the property. Robert Alinger and Wes Williams of Colliers represented the landlord, Bertling Logistics, in the lease negotiations. Sarah Pickup and Will Clay of JLL represented the tenant.

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AcquisitionsHealthcareOklahomaRetailTexas

Marcus & Millichap Arranges $4.7M Sale of Two Urgent Care Clinics in Oklahoma

by Taylor Williams

ELK CITY AND ENID, OKLA. — Marcus & Millichap has arranged the sale of two retail properties that are net leased to urgent care clinics in Oklahoma for a combined price of $4.7 million. The facilities, both of which are operated by Xpress Wellness, are located in Elk City and Enid, about 100 miles west and north of Oklahoma City, respectively. Dominic Sulo and Benjamin Bach of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed limited liability companies, in the transactions.

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AcquisitionsIndustrialSelf-StorageTexas

Versal Arranges Sale of 279-Unit Boat, RV Storage Facility in Southeast Houston

by Taylor Williams

HOUSTON — Versal, a self-storage brokerage firm with offices in Austin and Los Angeles, has arranged the sale of A&B Boat & RV Storage, a 279-unit facility located approximately 14 miles southeast of downtown Houston. The facility spans 121,328 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, California-based Sunbelt Storage II, in the transaction. The team also procured the buyer, Dallas-based RecNation.

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Clay-Crossing-Business-Center-Houston
AcquisitionsIndustrialTexas

KBS Sells 222,750 SF Light Industrial Complex in West Houston

by Taylor Williams

HOUSTON — California-based investment firm KBS has sold Clay Crossing Business Center, a 222,750-square-foot light industrial complex in West Houston. Built between 2000 and 2002, Clay Crossing Business Center consists of four buildings that house flex suites ranging in size from 3,105 to 44,883 square feet. Trent Agnew, Charles Strauss, Lance Young and Brooke Petzold of JLL represented KBS in the transaction. The buyer was an Houston-based entity doing business as HPI Holdings II LLC.

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Wylie-Business-Center
IndustrialLeasing ActivityTexas

Chint Power Systems Signs 76,433 SF Industrial Lease in Wylie, Texas

by Taylor Williams

WYLIE, TEXAS — Chint Power Systems, a manufacturer and distributor of solar energy products, has signed a 76,433-square-foot industrial lease in Wylie, a northeastern suburb of Dallas. The space is located within Wylie Business Center, a 274,416-square-foot development that features 36-foot clear heights and parking for 154 cars and 80 trailers. Kurt Griffin, Nathan Orbin and Dalton Knipe of JLL represented the owners, Lovett Industrial and Cresset Real Estate Partners, in the lease negotiations. Christian Moore of Mercer Co. represented Chint Power Systems, which plans to take occupancy this summer.

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CivicDevelopmentTexas

Hoar Construction Breaks Ground on 43,974 SF Civic Building in Killeen, Texas

by Taylor Williams

KILLEEN, TEXAS — Austin-based Hoar Construction has broken ground on a 43,974-square-foot civic building in the Central Texas city of Killeen. The site is located on the Texas A&M University — Central Texas campus, and the building will house the consolidated operations of various utility facilities as well as the campus police force. Completion is slated for next summer.

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AcquisitionsMultifamilyTexas

The Multifamily Group Negotiates Sale of 63-Unit Apartment Complex in Longview, Texas

by Taylor Williams

LONGVIEW, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of Courtyard Apartments, a 63-unit complex located about 120 miles east of Dallas in Longview. The property was built in 1966 and offers one- and two-bedroom units with an average size of 778 square feet. Yonnic Land of TMG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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