Texas

Colliers Negotiates 349,050 SF Industrial Lease for Wholesome Sweeteners Near Houston

by Taylor Williams January 20, 2020

DEER PARK, TEXAS — Colliers International has negotiated a 349,050-square-foot industrial lease for organic food company Wholesome Sweeteners at Victory Commons Center in Deer Park, an eastern suburb of Houston. Victory Commerce Center features a cross-dock configuration, 32-foot clear heights, 185-foot truck court depths, 256 car parking spaces, an ESFR sprinkler system and an additional acre for storage or trailer parking. In addition, the property is located within 10 miles of Beltway 8, Interstate 10 and the Barbours Cut and Bayport Container terminals at Port Houston. Jon Lindenberger, Walter Menuet and Paul Dominique of Colliers represented the landlord, Crow Holdings Industrial, in the lease negotiations. Ryan Fuselier and Carl Mueller of JLL represented Wholesome Sweeteners.

January 20, 2020

Acquisitions Industrial Office Texas

Redwood Property Investors Buys 301,127 SF Office, Industrial Campus in Houston

by Taylor Williams January 20, 2020

HOUSTON — Redwood Property Investors III LLC, a California-based private investment fund, has purchased the former Exterran Energy Solutions campus in northwest Houston. The property is situated on 21 acres and spans 301,127 square feet of manufacturing and office space. Clay Pritchett and Zane Carman of NAI Partners represented Redwood in the transaction. Mark Nicholas and Richard Quarles of JLL represented the seller and former occupant, Exterran. Redwood has tapped NAI Partners to market the property for lease moving forward.

January 20, 2020

Acquisitions Multifamily Texas

NKF Arranges Sale of 312-Unit Lenox Stone Oak Apartments in San Antonio

by Taylor Williams January 20, 2020

SAN ANTONIO — Newmark Knight Frank (NKF) has arranged the sale of Lenox Stone Oak, a 312-unit apartment community located in north central San Antonio. Built in 2017, the property’s units feature faux wood flooring, spa-like bathrooms and full-size washers and dryers. Amenities include a pool, fitness center, outdoor entertainment area, resident clubhouse and a dog park. Patton Jones of NKF represented the seller and developer, Austin-based Oden Hughes, in the transaction. Patrick Short, also with NKF, arranged acquisition financing for the buyer, a California-based investment firm that acquired the asset via a 1031 exchange.

January 20, 2020

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 39,621 SF Industrial Complex in Seagoville, Texas

by Taylor Williams January 20, 2020

SEAGOVILLE, TEXAS — Marcus & Millichap has brokered the sale of Abney Industrial Warehouses, a 39,261-square-foot industrial complex in Seagoville, a southeastern suburb of Dallas. The property is situated on 4.2 acres and consists of three warehouses and an office building. Adam Abushagur and Sam Martin of Marcus & Millichap represented the seller, a private investor, in the transaction. Additional terms of sale were not disclosed.

January 20, 2020

Healthcare Leasing Activity Texas

Healthcare Practice Signs 19,764 SF Lease Renewal, Expansion in Conroe, Texas

by Taylor Williams January 20, 2020

CONROE, TEXAS — Conroe WillIs Family Medicine has signed a 19,764-square-foot healthcare lease renewal and expansion at League Line Medical Office Building, a 59,222-square-foot property located about 40 miles north of Houston. The practice renewed its 15,055-square-foot lease and took on an additional 4,709 square feet. Sarah Carter of Transwestern represented the landlord, Diversified Healthcare Trust, in the lease negotiations.

January 20, 2020

Development Mixed-Use Texas

Newland Unveils Plans for Phase II of 735-Acre The Grove Frisco Mixed-Use Project

by Taylor Williams January 17, 2020

FRISCO, TEXAS — Newland Communities has unveiled plans for Phase II of The Grove Frisco, a 735-acre mixed-use project located on the northern outskirts of Dallas. Phase II will include a 424-unit apartment community developed by JPI as well as 129 townhomes and an unspecified amount of retail and dining space. The groundbreaking is scheduled for the second quarter. Phase I of the project featured single-family homes and 25 acres of communal outdoor space that includes a fishing pond, city park and 4.5 miles of walking trails.

January 17, 2020

Acquisitions Multifamily Texas

Hilltop Residential Acquires Apartment Community in Mansfield, Texas

by Taylor Williams January 17, 2020

MANSFIELD, TEXAS — Houston-based Hilltop Residential has acquired an undisclosed apartment community in the Dallas-Fort Worth metro of Mansfield. The number of units was also undisclosed, but the property was built in two phases between 2015 and 2017 and features a pool, fitness center, outdoor lounge and a dog park. Cortney Cole and Steve Heldenfels of JLL arranged a four-year, fixed-rate acquisition loan through a life insurance company on behalf of Hilltop Residential.

January 17, 2020

Loans Multifamily Seniors Housing Texas

CBRE Arranges $28.2M Refinancing for Seniors Housing Property in Metro Houston

by Taylor Williams January 17, 2020

SUGAR LAND, TEXAS — CBRE has arranged a $28.2 million bridge loan for the refinancing of Overture Sugar Land, a 200-unit active adult community in the Houston suburb of Sugar Land. The community opened in 2017 and features a coffee bar and bistro, pool, yoga studio and access to nature trails. Aron Will, Austin Sacco and Adam Mincberg of CBRE arranged the nonrecourse, floating-rate loan with 18 months of interest-only payments on behalf of the borrower, Greystar. The lender was MF1 Capital, an alliance between Limekiln Real Estate, Berkshire Group and CBRE Capital Markets.

January 17, 2020

Acquisitions Office Texas

Colliers Arranges Sale of 114,474 SF York Centre Office Building in Houston

by Taylor Williams January 17, 2020

HOUSTON — Colliers International has arranged the sale of York Centre, a 114,474-square-foot office building situated on 5.3 acres at the corner of Hempstead Highway and West Little York Road in Houston. According to LoopNet Inc., the Class B property was built in 1982. David Carter of Colliers represented the undisclosed seller in the transaction. The buyer, Interra York Centre LLC, an affiliate of Houston-based Interra Capital Group, was self-represented.

January 17, 2020

Acquisitions Retail Texas

JLL Negotiates Sale of 72,569 SF Bay Area Plaza in Webster, Texas

by Taylor Williams January 17, 2020

WEBSTER, TEXAS — JLL has negotiated the sale of Bay Area Plaza, a 72,569-square-foot commercial property in Webster, located about 23 miles southeast of Houston. Bay Area Plaza comprises 45,269 square feet of retail space and 27,300 square feet of industrial flex space that combined was 98 percent leased at the time of sale. Retail tenants include Total Body Work, Pizza Hut, Dapper Doughnuts and Amy’s Nails. Ryan West, John Indelli and Ethan Goldberg of JLL represented the seller, Orr Commercial Inc., in the transaction. The buyer was undisclosed.

January 17, 2020

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