SAN ANTONIO — Stream Realty Partners has brokered the sale of Lanark Distribution Center, a 235,400-square-foot industrial property situated on 10 acres in northeast San Antonio. The two-building property was built in 1982 and renovated in 2004, according to LoopNet Inc., and was 97 percent leased at the time of sale. Jamie Jennings, Andrew Rabinovich, Kevin Cosgrove and Walter Simpson of Stream Realty Partners represented the seller, a private partnership, in the transaction. The buyer and sales price were not disclosed.
THE WOODLANDS, TEXAS — Chicago-based investment firm 29th Street Capital has acquired Avana Sterling Ridge Apartments, a 254-unit multifamily community located north of Houston in The Woodlands. According to Apartments.com, the property features one-, two- and three-bedroom units and a pool, fitness center, media center and a game room. The new ownership plans to rebrand the Class B property, implement a limited interior renovation package and improve the property’s exterior, clubhouse and amenity spaces. The seller and sales price were not disclosed.
HASLET, TEXAS — General contractor Adolfson & Peterson Construction has completed Haslet Elementary School, a 100,431-square-foot institution that will be located outside Fort Worth and that will be part of the Northwest Independent School District. The school, which has the capacity to enroll 850 students, features an open concept library, learning pods with classrooms and collaborative spaces. Austin-based Huckabee designed the project, construction of which began in summer 2019.
ALEDO, TEXAS — Civitas Senior Living and Journey Capital, a senior housing development company, have broken ground on Harvest of Aledo Senior Living, a 121-unit project located approximately 20 miles west of Fort Worth in Aledo. The 68,000-square-foot property will consist of 20 independent living residences, 67 assisted living units and 24 memory care units. Other project partners include Arrive Architects, Ridgemont Construction and Senior By Design. Completion is scheduled for fall 2022.
DALLAS — ZOM Living has completed construction of Atelier, a 41-story apartment tower in the Dallas Arts District. The property features 417 luxury multifamily units, including 53 lofts, near Klyde Warren Park. Units range from 500 to 2,300 square feet with panoramic views of uptown and downtown Dallas. The property also features two levels of underground parking and 15,000 square feet of retail space, with CBRE handling the retail leasing. The location is walking distance from the AT&T Performing Arts Center, Dallas Museum of Art, Crow Museum of Asian Art and Nasher Sculpture Center. Atelier’s main lobby is designed as an art gallery and the tower features resort-style amenities, including an expansive amenity deck with infinity edge pool and sun deck, custom cabanas, yoga lawn, outdoor lounge with grilling area for al fresco dining, a bar and a fire pit. Interior amenities include a fitness area, coworking space with private conference rooms, private wine lockers, entertainment lounge, catering kitchen with harvest table, grab-n-go resident market and a pet spa. Stantec was the architect on the project, which general contractor Balfour Beatty built. ZRS Management, an affiliate of ZOM, is managing the community. Orlando-based ZOM is developing heavily in the Dallas …
AUSTIN, TEXAS — Walker & Dunlop has acquired FourPoint Investment Sales Partners, an Austin-based brokerage firm specializing in student housing and traditional multifamily properties. The FourPoint team of Chris Epp, Chis Bancroft, Kevin Dufour, Matthew Chase, Craig Miller and Kyle Peco will lead and scale Walker & Dunlop’s student housing investment sales division, with a goal of growing sales volume to $25 billion by 2025 for the Maryland-based company. The two firms have partnered as correspondents on student housing deals in the past.
FRISCO, TEXAS — Berkadia has arranged the sale of Stewart Creek Apartments, a 414-unit multifamily community in Frisco. Built in 1999, the property features one-, two- and three-bedroom units with quartz countertops, walk-in closets and private balconies/patios. Amenities include a business center, clubhouse, package lockers, picnic area and a bark park. Jay Gunn, Tom Burns and Will Jarnagin of Berkadia represented the seller, Plano-based Univesco Inc., in the transaction. In addition, Jason Rice and Chris Pollard of Berkadia arranged floating-rate acquisition financing through Varde Mortgage Capital on behalf of the sponsor, Lubbock-based Madera Residential.
AUSTIN, TEXAS — Seattle-based developer Unico Properties has completed Bouldin Creek, a 165,000-square-foot office building located at the northeast corner of South Lamar Boulevard and West Oltorf Street in South Austin. Designed by Michael Hsu Office of Architecture, the five-story building features 50,000-square-foot floor plates to support flexible workplace configurations, as well as floor-to-ceiling windows and terraces for outdoor workspaces and amenities. Indoor amenities include a fitness center, bike storage and electric car charging stations. Lastly, Proud Mary, an Australian coffee roaster and café, has signed a lease to occupy 2,500 square feet of ground-floor retail space with the opening expected later this year. Unico co-developed the property with Manifold Real Estate and OakPoint Real Estate, with White Construction Co. serving as the general contractor.
TULSA, OKLA. — Tulsa-based Stan Johnson Co. has brokered the $28 million sale-leaseback of a portfolio of eight industrial properties located throughout Texas and the Southeast. Brad Pepin and Jeff Tracy of Stan Johnson Co., along with Tom Gates and David Maynard of Mirador Real Estate Advisors, represented the undisclosed seller, which executed long-term, absolute triple-net leases at closing. The buyer was a New York-based institutional investor. The portfolio totals more than 200,000 square feet across 70.5 acres, including one newly built property that features a combination of industrial and office space and serves as the tenant’s headquarters.
SAN ANTONIO — Global architecture firm Gensler and Joeris General Contractors have begun the repositioning of the Bexar County IT Suite in San Antonio. The project team is reducing the gross leasable space from 37,640 square feet to 21,750 square feet to favor more as-needed flex office and meeting and collaborative spaces, over assigned workstations and offices. Employees will continue to have access to the building’s café, lobby and loading dock while work is ongoing. The project is slated to be complete this summer.