BELLVILLE, TEXAS — The LeClaire Group, a division of Marcus & Millichap, has arranged the sale of AAA Self Storage, a 395-unit facility in Bellville, located approximately 30 miles northwest of Houston. The property features 219 climate-controlled units and 176 non-climate-controlled units for a total of 65,950 net rentable square feet. The property, which was 91 percent occupied at the time of sale, originally opened in 2005 and has since been expanded. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, an Austin-based partnership, in the transaction. The sale included 1.6 acres for additional expansion.
HOUSTON — A partnership between New York-based GAIA Real Estate, Menora Mivtachim Insurance and Amitim Senior Pension Funds has sold Cashel Springs, a 300-unit apartment community in northwest Houston. The partnership acquired the community in 2015 and executed a value-add program. The property offers one- and two-bedroom units ranging in size from 534 to 1,107 square feet. Amenities include two pools, a fitness center, an outdoor grilling area and onsite laundry facilities. Matt Saunders of Newmark Knight Frank represented the undisclosed buyer in the transaction.
LEWISVILLE, TEXAS — Venture X will open a 30,000-square-foot coworking space within Offices at The Realm, a 235,000-square-foot office building located in the northern Dallas metro of Lewisville. Developed by Bright Realty, the property offers a fitness center, conference center, rooftop deck, event space and water design features. Sarah Savage, Ryan Hoopes and Tom Sutherland of Cushman & Wakefield represented Venture X in the lease negotiations. Lincoln Property Co. represented Bright Realty. The space is expected to open in early 2020.
GRAPEVINE, TEXAS — Bob Moore Construction has broken ground on the new headquarters building in the northern Fort Worth suburb of Grapevine for The Trade Group, which provides exhibiting supplies for conventions and trade shows. The Trade Group will occupy 218,000 of the property’s 318,00 square feet upon relocating from Carrollton. Completion of the new facility is slated for mid-2020.
FORT WORTH, TEXAS — Hillwood is underway on construction of Tacara Village, a 332-unit multifamily community that will be located within the company’s 26,000-acre AllianceTexas campus in Fort Worth. The property will offer 14 different floor plans and will feature smart locks and thermostats from provider Dwelo. Amenities will include a pool, outdoor kitchen, fitness center, pet park, game room and access to nearby walking trails and parks. Phase I of the project will open later this summer, and full completion is slated for early 2020.
ARLINGTON, TEXAS — Locally based investment firm S2 Capital has acquired Cypress Club Apartments, a 272-unit multifamily community in Arlington. Built in 2014, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and playground. The seller was not disclosed. Mark Brandenburg of JLL arranged acquisition financing for the transaction through Freddie Mac.
KINGSVILLE, TEXAS — A limited liability company has purchased Hawks Landing, a 102-unit multifamily asset in Kingsville, located south of Corpus Christi. The community features a pool, dog park, basketball court, playground and a resident clubhouse. Dougherty Mortgage arranged an undisclosed amount of Fannie Mae acquisition financing through a partnership with Old Capital Lending on behalf of the new ownership. The names of the buyer and seller were not released.
AUSTIN, TEXAS — Chicago-based Brennan Investment Group has sold two industrial properties totaling 84,535 square feet in Austin. The first property is located at 4120 Commercial Center Drive near Austin-Bergstrom International Airport on the southeast side. The second building is located at 9210 Cameron Drive on the northeast side. The buyer was Texas-based investment firm Stonelake Capital Partners. Both buildings were fully occupied at the time of sale.
DALLAS — Rehrig Pacific Co., which manufactures and distributes plastic products for the food and agriculture industries, has signed a 127,789-square-foot industrial lease renewal at 613-625 Mockingbird Lane in Dallas. Canon Shoults of Holt Lunsford Commercial represented the landlord, Alpha Industrial, in the lease negotiations. Craig Jones of JLL represented the tenant.
TERRELL, TEXAS — A group of anchor tenants that includes Ross Dress for Less, Hobby Lobby and Five Below have opened their stores at Crossroads at Terrell, a 275,000-square-foot shopping center located about 35 miles east of Dallas. Marshalls, Rack Room Shoes, Ulta Beauty, Petco, and Academy Sports + Outdoors are scheduled to open later this year. Film Alley, an entertainment concept with movies, bowling and arcades, opened at Crossroads at Terrell earlier this year. Future restaurant users at the property will include Olive Garden, Raising Cane’s and Chili’s, which will accompany the likes of Whataburger, Chick-fil-A and Chipotle Mexican Grill. RealtyLink and Oakridge Investments are co-developing the property, and CBRE is leasing it.