WACO, TEXAS — Envases Group, a Mexico-based provider of aluminum cans, will open a 450,000-square-foot manufacturing and distribution facility in Waco. Operations at the facility are expected to create about 120 full-time jobs, with another 500 or so jobs to be created through construction and indirect uses such as building maintenance and product distribution. The Waco operation will focus on aluminum beverage containers commonly used for soft drinks, beers, energy drinks, teas and non-carbonated beverages. Completion is slated for late 2021. Founded in 1993, Envases Group owns and operates 56 plants, three sales offices and seven distribution centers in Europe, Asia and the Americas.
FARMERS BRANCH, TEXAS — Weitzman has brokered the sale of a 95,488-square-foot building formerly occupied by Atlanta-based furniture retailer Haverty’s in the northern Dallas metro of Farmers Branch. The building offers a second-generation showroom/warehouse with highway frontage and visibility, as well as a mezzanine level for showroom and office space. David Zoller of Weitzman represented the seller, a Dallas-based limited partnership, in the transaction. Joe Doye of Westin Co. represented the buyer.
SAN ANTONIO — NorthMarq has arranged an $8 million loan for the refinancing of Crownridge Centre, a 41,590-square-foot office building located on the north side of San Antonio. Bryan Leonard of NorthMarq placed the debt through an undisclosed life insurance company on behalf of the locally based sponsor. The financing was structured with a fixed interest rate and a fully amortizing 20-year term. The building is leased to tenants in the financial, medical and energy sectors.
NEW CANEY, TEXAS — Lowe’s (NYSE: LOW) will open a 1.5 million-square-foot distribution center on the northern outskirts of Houston, creating about 200 jobs in the process, according to reports from multiple news outlets including Community Impact Newspaper and the Houston Business Journal. According to the former publication, the home improvement retailer’s new center will be located along Gene Campbell Road in New Caney at the East Montgomery County Improvement District’s industrial park. Local ABC affiliate abc13.com also reports that the facility is expected to open in July and represents approximately $65 million in public and private capital investment. The stock price of Lowe’s opened at $151.99 per share on Friday, Dec. 3, up from $115 per share a year ago.
PASADENA, TEXAS — Third-party logistics firm Dunavant Distribution Group has signed a 784,000-square-foot industrial lease at Bay Area Business Park in the eastern Houston metro of Pasadena. John Nicholson of Colliers represented the tenant in the lease negotiations. Justin Robinson and Jeff Pate of Stream Realty Partners represented the landlord, PEPF Red Bluff. The three-building property is located near Port Houston and recently underwent an expansion to become the largest single-owner industrial business park in Houston, according to the brokerage team.
HOUSTON — Indus Management, a locally based affordable housing owner-operator, has acquired Sharpstown Garden Apartments, a 396-unit workforce housing community in southwest Houston. The property features one-, two- and three-bedroom units. According to Apartments.com, Sharpstown Garden was originally built in 1960 and renovated in 2000 and now offers amenities such as multiple pools, a business center and a clubhouse. Indus Management purchased the community from Pryzant Management, which had spent approximately $900,000 in capital improvements over the last four years. Chris Young and Joey Rippel of JLL brokered the deal.
AUSTIN, TEXAS — San Francisco-based investment firm Hamilton Zanze has sold Bradford Pointe, a 264-unit apartment community in North Austin. The property was built in 1984 and offers one- and two-bedroom residences averaging 638 square feet. Units feature wood-style flooring, upgraded appliances and resurfaced countertops, and select units have private patios and balconies. Amenities include two pools, a fitness center, business center, playground, resident clubhouse and an outdoor kitchen. Hamilton Zanze acquired Bradford Pointe, which was 95 percent occupied at the time of sale, in 2015. The buyer was not disclosed.
DALLAS — RETS Associates, a California-based company that specializes in matching real estate companies with qualified talent, has opened a new office in Dallas. The firm has tapped Chase Fryhover as director of the new office, which is located at 5420 Lyndon B. Johnson Freeway in the Galleria area. Fryhover will focus on recruiting for entry to mid-level positions in the Dallas market. RETS Associates also has offices in Charlotte, Chicago, Denver and Phoenix.
PLANO, TEXAS — At Home Group Inc. (NYSE: HOME) reported a 47.5 percent increase in net sales for its third fiscal quarter that ended on Oct. 24 relative to its fiscal third quarter in 2019. At Home has now achieved 21.5 percent growth in net sales on a year-to-date basis. The Plano-based home improvement retailer also reported $47.1 million in net income for its third quarter, a substantial increase from the $14.6 million net loss posted in the third quarter of 2019. The company currently operates 219 stores in 40 states. In a call with shareholders, At Home CEO Lee Bird noted the company was currently enjoying its lowest leverage ratio since going public. In addition, Bird said that At Home’s “real estate opportunities are only getting stronger,” and that the company had “the potential to grow our store base nearly three times larger.” At Home’s stock price opened at $18.86 per share on Thursday, Dec. 3, up from $8.24 per share a year ago.
SAN ANTONIO — New Jersey-based Silver Point Group and its Chicago-based preferred equity partner Origin Investments have acquired Ashley Oaks Apartment Homes, a 462-unit multifamily community in San Antonio. Built in phases between 1985 and 1995, the property is located approximately 15 miles from the downtown district and features one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse and outdoor grilling areas. The seller was LivCore, a subsidiary of Blackstone Group.