Texas

JLL Negotiates Sale of 188-Unit Loop Apartments in Conroe, Texas

by Taylor Williams April 29, 2020

CONROE, TEXAS — JLL has negotiated the sale of The Loop Apartments, a 188-unit multifamily community in Conroe, about 40 miles north of Houston. Built in 2017, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor entertainment area and a dog park. Greg Austin, Chip Nash, Bob Heard, Chris Curry, Todd Marix, Chris Young, Joey Rippel and Kyle Whitney of JLL represented the seller, Apartment Advisors Inc., in the transaction. Tim Leonhard, Mary Davis and Eric Hightower of JLL arranged Fannie Mae acquisition financing for the undisclosed buyer.

April 29, 2020

Acquisitions Multifamily Texas

BoaVida Group Acquires Mobile Home Park in Northeast San Antonio for $11.2M

by Taylor Williams April 29, 2020

SAN ANTONIO — The BoaVida Group, a California-based owner-operator of mobile home and RV parks, has acquired Lamplighter Mobile Home Park, a 232-site property in San Antonio. The sales price was $11.2 million. The property is located on the city’s northeastern side and features a pool, office and resident clubhouse. The seller was not disclosed.

April 29, 2020

Industrial Leasing Activity Texas

HBL Towing Signs 121,105 SF Industrial Lease Renewal in Dallas

by Taylor Williams April 29, 2020

DALLAS — Locally based firm HBL Towing & Recovery has signed a 121,105-square-foot industrial lease renewal at 5200 E. Grand Ave. in Dallas. Canon Shoults and Josh Barnes represented the landlord, Holt Lunsford Commercial Investments, on an internal basis. The representative of the tenant was not disclosed.

April 29, 2020

Texas

Gov. Abbott: Texas Retailers, Restaurants May Reopen Friday at Limited Capacities

by Taylor Williams April 28, 2020

AUSTIN, TEXAS — Texas Gov. Greg Abbott released details on Monday of his Phase I plans to reopen the state’s economy, providing specific guidelines and protocols for an array or retail and civic services. Beginning Friday, May 1, all retail stores, restaurants, movie theaters and malls may reopen, but with their capacities limited to 25 percent of their listed maximum occupancies. Texas counties that had five or fewer COVID-19 cases as of Thursday, April 30 may reopen these establishments at 50 percent of their original capacities. Food courts, play areas and interactive displays will remain closed in malls. Museums and libraries may reopen under the same guidelines, but public venues such as pools, bars, gyms, amusement parks, bowling alleys and video arcades will remain closed throughout Phase I. Nursing homes, assisted living facilities and similar senior living establishments must remain closed to visitors. In his announcement, the governor also said that Texas is launching a statewide testing and contact tracing program developed by the Texas Department of State Health Services and put forth new public health protocols for all Texans seeking to venture into these public arenas during Phase I. The initial phase of the reopening plan will expire no …

April 28, 2020

Acquisitions Multifamily Texas

NorthMarq Arranges Sale of 396-Unit Vineyards at Arlington Apartments

by Taylor Williams April 28, 2020

ARLINGTON, TEXAS — NorthMarq has arranged the sale of Vineyards at Arlington, a 396-unit apartment community that consists of 31 buildings across 16.4 acres in the middle of the DFW metroplex. The property was built in 1985 and offers amenities such as a pool, racquetball court, theater, resident clubhouse, playground, picnic area and a dog park. Taylor Snoddy, James Roberts and Philip Wiegand of NorthMarq represented the seller, a partnership between two limited liability companies. The buyer, Pegasus Real Estate LLC, plans to implement a value-add program. Stephen Whitehead, Lauren Bresky and William Hancock of NorthMarq arranged acquisition financing and an equity partner for the buyer.

April 28, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 100-Unit Regency Oaks Apartments in Fort Worth

by Taylor Williams April 28, 2020

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Regency Oaks, a 100-unit apartment community on the eastern side of Fort Worth. Built in 1967 and renovated in 2001, the property features one- and two-bedroom units and amenities such as a pool and onsite laundry facilities. Al Silva of Marcus & Millichap represented the seller, Canada-based Republic Funds, in the transaction. Silva also procured the buyer, a Texas-based limited liability company.

April 28, 2020

Leasing Activity Office Texas

Wordpress Engine Signs 22,536 SF Office Lease at Lavaca Plaza in Austin

by Taylor Williams April 28, 2020

AUSTIN, TEXAS — Web hosting platform Wordpress Engine has signed a 22,536-square-foot office lease at Lavaca Plaza, a four-building office complex located at 504 Lavaca St. in Austin’s CBD. The property was built in 1980 and remodeled in 2001. Marc Vanderslice, Nate Stricklen and John Gump of CBRE represented the tenant in the lease negotiations. Matt Levin and Jason Steinberg of Equitable Commercial Realty represented the landlord, Unico Properties.

April 28, 2020

Leasing Activity Office Texas

Avison Young Negotiates 21,091 SF Office Lease in Houston’s Energy Corridor

by Taylor Williams April 28, 2020

HOUSTON — Avison Young has negotiated a 21,091-square-foot office lease at 777 N. Eldridge Parkway in Houston’s Energy Corridor. Anthony Squillante and Josh Morrow of Avison Young represented the tenant, civil engineering firm Van De Wiele & Vogler. Jon Dutton represented the landlord, Granite Properties, on an internal basis. Van De Wiele & Vogler plans to move about 50 employees into its new space in the third quarter.

April 28, 2020

Market Reports Retail Texas Texas Market Reports

Texas Retail Landscape Evolves Before Our Eyes

by Taylor Williams April 28, 2020

It’s no question that 2020 has become a turning point in history. Within a few short weeks, what was a booming time in our industry has changed in the blink of an eye. Although the good times may not last forever, it’s safe to say many didn’t expect a sudden change so soon — and on such a large scale. While health remains the nation’s top priority, COVID-19 has taken a toll in some shape or form on plenty of industries in the weeks following its arrival in the United States, with retail unquestionably being one of the hardest hit. However, innovative players are still finding opportunities. Plenty of retailers were already adapting to a changing market defined by e-commerce, and their improvements were unknowingly preparing them for a world under COVID-19 restrictions and limitations. Dinner at a Tap Food delivery apps have become saving graces since COVID-19 changed the daily lives of Americans. Delivery apps such as DoorDash, Uber Eats and Favor are allowing customers who may not want or be able to leave their homes to support their favorite restaurants. While one benefit of these apps would usually be supporting increased sales and avoiding standing in line, these …

April 28, 2020

Acquisitions Multifamily Texas

Sun Holdings Group Acquires 330-Unit Apartment Community in San Antonio

by Taylor Williams April 27, 2020

SAN ANTONIO — Houston-based Sun Holdings Group has acquired Tradehouse at Bulverde Marketplace, a 330-unit apartment community located within the 104-acre Bulverde Marketplace mixed-use development in north central San Antonio. Built in 2018, the property features one- and two-bedroom units with dark wood cabinetry, stainless steel appliances and quartz countertops. Amenities include a pool with outdoor kitchens, a fitness center, billiards room and a social lounge. David Roth of Matthews Real Estate Investment Services represented the seller, The NRP Group, an Ohio-based development and investment firm, in the transaction. Cutt Abelson of Berkadia arranged an undisclosed amount of Freddie Mac acquisition financing for the transaction.

April 27, 2020

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