KATY AND CYPRESS, TEXAS — Breakfast eatery The Toasted Yolk Café has opened two new restaurants in the Houston area, one at The Crossing at Katy Fulshear on the western side of town and one at Cypress Mill Village in the northwestern suburbs. Toasted Yolk Café now operates 14 restaurants in the Houston area. Paul Vernon and Campbell Vise of Henry S. Miller represented the restaurant in its site selection and lease negotiations.
HOUSTON — NAI Partners has negotiated a 9,600-square-foot industrial sublease at 3402 Bacor Road in west Houston. According to LoopNet Inc., the property was built in 2017. Chris Caudill and Griff Bandy of NAI Partners represented the subtenant, SES Subsea Engineering Solutions, in the lease negotiations. CBRE represented the sublessor, DNV GL USA Inc.
FORT WORTH, TEXAS — Institutional Property Advisors, a division of Marcus & Millichap, has negotiated the sale of The Bowery at Southside, a 303-unit apartment community in Fort Worth. The property was built on 7.5 acres in 2019 and features apartment and townhome residences with an average unit size of 820 square feet. Amenities include a pool, sky lounge and a lawn with a five-hole putting green. Drew Kile, Will Balthrope and Joey Tumminello of IPA represented the seller, StoneHawk Capital Partners, and procured the buyer, Virginia-based Weinstein Properties.
HOUSTON — Newmark Knight Frank (NKF) has provided a $54.8 million Freddie Mac loan for the refinancing of Nob Hill Apartments in Houston. The community was built in four phases beginning in 1967 and is now operated as a single complex totaling 1,326 workforce housing units. The borrower, Steadfast Cos., recently implemented a value-add program that delivered shaker-style cabinets, granite-style countertops and modern appliances to the unit interiors. Amenities include nine pools, courtyards, a business center and a clubhouse. Matt Greer of NKF originated the loan.
BIXBY, OKLA. — Minneapolis-based investment firm Timberland Partners has purchased Encore Memorial, a 248-unit apartment community located in the southern Tulsa suburb of Bixby. Built in 2012, the property offers one-, two- and three-bedroom units. Amenities include a business center, resident clubhouse, pool, fitness center, playground and a volleyball court. Timberland Partners acquired the asset through its $100 million TPAF VII Fund. The seller was not disclosed.
KERRVILLE, TEXAS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 150-bed skilled nursing facility in Kerrville, approximately 65 miles northwest of San Antonio. The property was built in 2006. A private investor bought the asset and contracted with a Texas-based operator as the tenant. The seller and sales price were not disclosed.
MCKINNEY, TEXAS — Craft beer producer TUPPS Brewery has received a $11.3 million grant from The McKinney Community Development Corp. to remodel a 120-year-old grain mill in the northern Dallas suburb for its new location. The brewer’s new campus will span 4.5 acres and will consist of a 25,000-square-foot production brewery and a communal shopping area. TUPPS has occupied 17,000 square feet at the historic McKinney cotton mill at 721 Anderson St. for the past five years.
TEXARKANA, TEXAS — Defense contractor and aerospace firm Lockheed Martin has signed a 220,000-square-foot industrial lease at TexAmericas Center in Texarkana, located near the Texas-Arkansas border. Lockheed Martin will utilize a portion of the floor space at Building 333, which is currently leased to Red River Army Depot (RRAD), to support the Multiple Launch Rocket System (MLRS) Fleet Expansion Program. The contract with RRAD is valued at $77 million and runs from 2020 to 2024. The building will undergo improvements requested and paid for by Lockheed Martin as part of its public/private partnership with RRAD. TexAmericas Center is one of the largest owner-operators of industrial real estate in the country, with roughly 12,000 development-ready acres and about 3 million square feet of commercial and industrial product serving four states.
HOUSTON — Gulf Coast Commercial Group is nearing completion of the initial phase of Lower Heights, a 24-acre mixed-use project located just west of downtown Houston. The project is being developed on an assemblage of former industrial sites fronting Interstate 10. The most recent addition to Lower Heights is a 35,000-square-foot office building with street-level retail space that has been preleased to Central Bank and coworking operator SheSpace. The development also features a 375-unit apartment community that is branded Alexan Lower Heights. Move-ins are underway at the five-story property, which offers studio, one- and two-bedroom units and Class A amenities. Lastly, Lower Heights includes a 37,000-square-foot retail block that houses Total Wine and Ulta Beauty. Future phases call for additional retail, office and multifamily uses.
RICHARDSON, TEXAS — Texas Excavation Safety System has signed a 29,343-square-foot office lease at 1410 E. Renner Road in the northeastern Dallas suburb of Richardson. Dave Peterson, Mark Robertson and Jimmy Freeman of NAI Robert Lynn represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
