CORSICANA, TEXAS — NAI Robert Lynn has negotiated an 87,235-square-foot retail lease at 3301 Corsicana Crossing Blvd. in Corsicana, about 60 miles south of Dallas. Matt Elliott and Tom Heraty of NAI Robert Lynn represented the undisclosed landlord in the lease negotiations. John Jinks of Formation Real Estate LLC represented the tenant, Fun Town RV.
SAN ANTONIO — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of Glennwood Apartments, a 100-unit complex situated on a 6.3-acre site on the north side of San Antonio. According to Apartments.com, the property was built in 1970 and offers one-, two- and three-bedroom units. Chris Siemasko and Bryce Smith of TMG represented the seller and buyer, both of which requested anonymity, in the transaction. The 12-building complex was fully occupied at the time of sale.
HOUSTON — A fund backed by BV Capital and Archway Properties has acquired a 79,684-square-foot showroom and warehouse in Houston that is triple-net leased to home improvement merchandiser Floor & Décor. The property is located within Park Air 59, Archway’s mixed-use development near George Bush Intercontinental Airport that was completed in late 2019. The fund will continue to target single-tenant, triple-net-leased assets in Texas.
HOUSTON — Commando Pressure Control Inc., a provider of pressure solutions for the hydraulic fracturing industry, has signed a 14,100-square-foot industrial lease renewal within Four Seasons Business Park in northwest Houston. Jack Gaffney and John Buckley of Houston-based Finial Group represented the undisclosed landlord in the lease negotiations. The representative of the tenant was not disclosed.
TEXARKANA, TEXAS — TexAmericas Center (TAC) has completed the remediation of 6,800 acres in Texarkana, located near the Texas-Arkansas border, to meet standards for commercial and industrial development. Last week, the Texas Commission on Environmental Quality removed the U.S. Army’s Resource Conservation and Recovery Act (RCRA) permit from the property, thus opening up the acreage for development. The land is a portion of the former Lone Star Army Ammunition plant. Remediation efforts began in 2010, and in recent years, TAC and its partners have invested more than $40 million in remediation activities and improved infrastructure to advance job and capital creation in the region. TAC is an owner-operator of one of the country’s largest industrial parks, with roughly 12,000 development-ready acres and 3.5 million square feet of commercial and industrial product serving four states.
PORTER, TEXAS — Locally based developer The Signorelli Co. is underway on construction of The Gregory Apartments, a 269-unit multifamily community that will be located within the Valley Ranch master-planned community in the northeastern Houston suburb of Porter. The property will feature one- and two-bedroom units averaging 900 square feet. Amenities will include a pool, fitness center, social lounge areas, a business center and direct access to several acres of open green space. The first units are expected to be available for occupancy later this year. Information on starting rents was not disclosed.
COLUMBUS, TEXAS — DWG Capital Partners, a Los Angeles-based investment and advisory firm led by Judd Dunning, has acquired 1317 Business Highway 71 N. in Columbus, a light industrial facility located west of Houston. The 35,835-square-foot property was acquired from The Theut Co., a commercial glazing company and a division of Denver Glass Interiors, in a sale-leaseback transaction. Bryan Huber and Michael Soleimani of SAB Capital represented the tenant in the 17-year, absolute triple-net sale-leaseback transaction. Washington Federal Bank provided acquisition financing for the venture.
FORT WORTH, TEXAS — Florida-based Housing Trust Group (HTG) will develop Park Tower, a 90-unit mixed-income community in Fort Worth that is valued at $22 million. HTG is developing the property in partnership with the Texas Department of Housing & Community Affairs. The property’s 78 income-restricted units will be reserved for households earning less than 30, 50, and 60 percent of the area median income (AMI), while the other 12 units will be rented at market rental rates. Residences will features one-, two- and three-bedroom floor plans and will be furnished with quartz countertops, wood-style flooring and washer and dryer connections. Communal amenities will include a clubhouse/community room, business center/computer lab, fitness center, a courtyard and onsite laundry facilities. The design team includes San Antonio-based Overland Partners Architecture and Urban Design. Construction is scheduled to begin in February 2022 and to be complete by late 2023. Monthly rents at Park Tower will range from $400 to $2,000.
DALLAS AND SAN ANTONIO — JLL has arranged $48.5 million in financing for a four-building, 505,719-square-foot industrial portfolio that includes cold storage space in Dallas and San Antonio. The portfolio includes two net-leased assets in infill submarkets at 3551 Dan Morton Drive in Dallas and 2001 S. Laredo St. in San Antonio that were acquired in January in a sale-leaseback with custom food manufacturer Surlean Foods. Christopher Drew, Maxx Carney, Reid Carleton, Jeremy Womack and Jarrod McCabe of JLL arranged the three-year, floating-rate loan on behalf of the borrower, MDH Partners. An undisclosed local bank provided the funds.
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Webinar: Everything You Need to Know About the Single-Family Rental & Build-For-Rent Market
On Apr. 7, France Media hosted the “Everything You Need to Know About the Single-Family Rental & Build-For-Rent Market” webinar, sponsored by Walker & Dunlop. The single-family rental (SFR) and build-for-rent (BFR) space has generated excitement throughout the commercial real estate world. This webinar brings together five expert panelists to answer the most pressing questions for this asset class: what to know about SFR and BFR verticals, issues and trends within the space, the sudden influx of institutional capital and where things might go from here. Click to hear more. See a list of some topics covered below: SFR and BFR markets definitions/size Factors driving growth (including changing demographic trends, COVID-19), occupancy levels and the most active markets SFR/BFR rental rates and the pipeline of new supply in the asset class Institutional capital/availability of financing/investment market layout for the SFR/BFR space Overview on managing and maintaining SFR/BFR products and portfolios Panelists: David Howard, National Rental Home Council (moderator) Keaton Merrell, Walker & Dunlop Mark Peterson, SVN | SFRhub Advisors Don Walker, John Burns Consulting Jon Ellenzweig, Tricon Residential Webinar sponsor: Walker & Dunlop strives to be the premier commercial real estate finance company in the country by providing financing solutions and investment sales to owners of …