SAN ANGELO, TEXAS — Marcus & Millichap has arranged the sale of Koberlin Apartments, a 56-unit multifamily complex in San Angelo, located roughly midway between Austin and Lubbock. William Stover of Marcus & Millichap represented the seller of the two-building, 41,868-square-foot property and procured the buyer, both of which were private investors that requested anonymity.
MANSFIELD, TEXAS — Locally based investment firm Lonejack II LLC has purchased Heritage Park, a 460,000-square-foot distribution center in the Fort Worth suburb of Mansfield that was previously occupied by Pier 1 Imports. The property is located near U.S. Highway 287, is adjacent to the Union Pacific Railroad and features 10,200 square feet of office space. Pier 1 Imports, which was founded in Fort Worth in 1962, announced in May that it would be closing all its retail stores and liquidating other assets. LanCarte Commercial is marketing the property for lease.
HURST, TEXAS — Gardner Capital, a family-owned private equity firm focused on the multifamily sector, has completed Provision at North Valentine, a 96-unit apartment community located in the northeastern Fort Worth suburb of Hurst. The property features one- and two-bedroom floor plans with granite countertops, breakfast bars and individual washers and dryers. Amenities include a pool, fitness center, onsite laundry facilities, outdoor grilling areas and a playground. Rents for one-bedroom units range from $361 to $789 per month, while rents for two-bedroom units range from $429 to $942 per month.
HOUSTON — NAI Partners has sold Leghorn Service Center, a 66,530-square-foot industrial property in Houston. NAI Partners acquired the three-building complex in 2019 through one of its investment funds. Charlie Strauss, Trent Agnew and Katherine Miller of JLL served as the listing brokers in the transaction and procured the buyer, a locally based private investment firm. Leghorn Service Center was fully leased at the time of sale.
BEDFORD, TEXAS — Healthcare developer MedCore Partners has broken ground on the 25,200-square-foot Bedford Medical Plaza, located at the northwest corner of Hospital Parkway and Parkview Lane near Fort Worth. The building will be situated on 3.1 acres near Texas Health Harris Methodist Hurst-Euless-Bedford Hospital and is 100 percent preleased to multiple local practices. An expected completion date was not released.
HOUSTON — Cypressbrook Co. has negotiated a 25,368-square-foot industrial lease at 1819 Turning Basin Drive in east Houston. According to LoopNet Inc., the property was built in 1980 and totals 65,494 square feet. John Hornbuckle of Cypressbrook represented the tenant, EN Group Corp., in the lease negotiations. David Munson of Boyd Commercial represented the landlord, First Industrial Texas LP.
MCALLEN, TEXAS — The administration of Texas Gov. Greg Abbott has converted the McAllen Convention Center, located in the Rio Grande Valley near Mexico, into a temporary healthcare facility for COVID-19 patients. Texas, one of the first states to reopen, has seen a sharp rise in COVID-19 cases in recent weeks, recording as many as 8,000 new cases per day during some stretches. The 174,000-square-foot facility has the capacity to house as many as 250 patients, but it opened on Tuesday with the stated goal of taking up to 50 patients to start and increasing intake and capacity as needed. The property sits on 18.5 acres and features a 60,000-square-foot free exhibit hall, a grand ballroom, two boardrooms and 16 breakout rooms for meetings and smaller events. According to the Texas Department of Health and Human Services, the state has recorded about 460,000 positive cases and 7,500 deaths since the pandemic began.
HOUSTON — MetroNational has topped out The McKinley Memorial City, a 278-unit luxury apartment tower located at 9757 Katy Freeway in West Houston. The 25-story building, which is scheduled to be complete in the fourth quarter of 2021, will be part of a larger, four-acre mixed-use development. McKinley Memorial City will feature studio, one-, two- and three-bedroom units and amenities such as a pool, fitness center, movie theater, chef’s kitchen, wine bar, dog park and a golf simulator. Ziegler Cooper Architects designed the 332,231-square-foot project, and Anslow Bryant is serving as the general contractor.
LEWISVILLE, TEXAS —Bright Realty has completed Crown Centre at Castle Hills, a 109,000-square-foot office building in the northern Dallas suburb of Lewisville that represents Phase I of the locally based developer’s Crown Centre mixed-use project. The four-story, Class A property is the first of more that 35 buildings that will ultimately comprise Crown Centre. Upon completion, the development will consist of 35 buildings featuring 3 million square feet of office space, 2,000 apartments, 140,000 square feet of dining and retail space, and 500 hotel rooms interconnected by extensive walking trails lined. Hill & Wilkinson served as the general contractor for the office building.
KATY, TEXAS — Colliers International has brokered the sale of the Mason Creek medical office building, a 30,000-square-foot facility in the western Houston suburb of Katy. The property was fully leased to Village Family Practice LLP and Memorial MRI & Diagnostics LLC at the time of sale. Beth Young and Bob Parsley of Colliers represented the seller, Read King, in the transaction. The buyer was Montecito Medical Real Estate. Arch-Con Construction served as general contractor of the newly built facility. Several healthcare systems have recently opened hospital campuses within a four-mile radius of Mason Creek, including Houston Methodist Hospital, Memorial Hermann Hospital, Texas Children’s Hospital and MD Anderson Cancer Center.