Texas

MetroNational Breaks Ground on Four-Acre Mixed-Use Project in Houston’s Memorial City District

by Taylor Williams September 30, 2019

HOUSTON — Locally based developer MetroNational has broken ground on a four-acre mixed-use project at the southwest corner of Bunker Hill Road and Katy Freeway in the Memorial City area of Houston. The project will include a 25-story residential tower that will house 278 units in one-, two- and three-bedroom layouts and amenities such as a rooftop pool, fitness center, dog park, golf simulator and a movie theater. That building will also house 4,500 square feet of retail and restaurant space. In addition, MetroNational plans to develop a 190,000-square-foot office building that will also feature ground-floor retail and restaurant space. Completion is slated for summer 2021.

September 30, 2019

Acquisitions Multifamily Texas

Western Wealth Capital Acquires Three Houston Multifamily Assets Totaling 940 Units

by Taylor Williams September 30, 2019

HOUSTON — Western Wealth Capital (WWC), a Canadian investment firm, has acquired three multifamily properties totaling 940 units in Houston. All three communities were built in 1983, with most apartment units still retaining their original interior features. WWC will implement a value-add program to unit interiors and property exteriors. The seller and property names were not disclosed. With this transaction, WWC now owns 10 multifamily communities in Houston and 68 in the country.

September 30, 2019

Acquisitions Industrial Texas

STREAM Arranges Sale-Leaseback of Two Industrial Assets in Temple for Texas Hydraulics

by Taylor Williams September 30, 2019

TEMPLE, TEXAS — STREAM Capital Partners LLC has arranged the sale-leaseback of two industrial assets totaling 211,000 square feet in the Central Texas city of Temple. Texas Hydraulics occupies the facilities, which are used for the manufacturing warehousing, and distribution of hydraulic cylinders. Chelsea Mandel and Phil DiGennaro of STREAM Capital Partners represented the seller in the transaction. The buyer was a publicly traded REIT.

September 30, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 155-Unit Self-Storage Facility in Willis, Texas

by Taylor Williams September 30, 2019

WILLIS, TEXAS — Marcus & Millichap has brokered the sale of Oversized Storage, a 155-unit self-storage facility in Willis, located about 40 miles north of Houston. The property is situated on 5.7 acres and spans 61,520 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer and sales price were not disclosed.

September 30, 2019

Industrial Leasing Activity Texas

Mueller to Open 26,250 SF Distribution Center at DFW Airport

by Taylor Williams September 30, 2019

IRVING, TEXAS — Mueller Co. LLC, an affiliate of Atlanta-based Mueller Water Products Inc., will open a 26,250-square-foot distribution center at Dallas-Fort Worth International Airport. Construction on the new space is underway, and the buildout of the shell space is expected to last about two months. Steve Trese of CBRE represented the landlord, EastGroup Properties LP, in the lease negotiations

September 30, 2019

Acquisitions Multifamily Texas

29th Street Capital Acquires 318-Unit Apartment Community in West Houston

by Taylor Williams September 27, 2019

HOUSTON — 29th Street Capital (29SC), a multifamily investment firm with offices in San Francisco and Chicago, has acquired 14220 at Park Row Apartments, a 318-unit apartment community in West Houston. Built in 1998, the property features one-, two- and three-bedroom units with granite countertops, stainless steel appliances, walk-in closets and private patios or balconies. Amenities include a pool with a tanning ledge, fitness center, outdoor grilling stations, business center, a resident clubhouse and access to jogging trails. 29SC will rebrand the property and introduce smart technology features. The seller was not disclosed.

September 27, 2019

Acquisitions Office Texas

Madison Marquette Buys 128,617 SF Office Building in Austin

by Taylor Williams September 27, 2019

AUSTIN, TEXAS — Madison Marquette has purchased The Millennium, a 128,617-square-foot office building located in the Shepherd Mountain area of Austin. National Instruments originally developed the five-story property in 1985 as a build-to-suit project. Mike McDonald, Celeste Fowden and Katy Jane Jenevein of Cushman & Wakefield represented the seller of The Millennium, which was 66 percent occupied at the time of sale. Madison Marquette will implement a repositioning program that will add a management and conference facility and upgrade both interior and exterior common areas.

September 27, 2019

Loans Multifamily Texas

Dougherty Arranges $29.7M Construction Loan for Apartment Project Near Fort Worth

by Taylor Williams September 27, 2019

BURLESON, TEXAS — Dougherty Mortgage has arranged a $29.7 HUD construction loan for The Waverly Apartments, a 192-unit multifamily project in Burleson, a southern suburb of Fort Worth. The community will offer a clubhouse, pool with cabanas, outdoor kitchen areas, a business center, fitness center, children’s play area, dog park and a car wash area. Completion is slated for spring 2021. Dougherty arranged the loan, which carried a 40-year term and amortization schedule, on behalf of borrower Burleson Commons LLC.

September 27, 2019

Acquisitions Industrial Office Texas

NAI Partners Brokers Sale of 86,655 SF Office, Warehouse Property in Metro Houston

by Taylor Williams September 27, 2019

MISSOURI CITY — NAI Partners has brokered the sale of an 86,655-square-foot office and warehouse property situated on 10 acres at 13840 Pike Road in Missouri City, a southwestern suburb of Houston. Clay Pritchett and Zane Carman of NAI Partners represented the seller, Champions Fairway Ltd. Will Austin and Hunter Johnston of Bridge Commercial Real Estate represented the buyer, Full Plus LLC.

September 27, 2019

Development Office Texas

Rosenberger Breaks Ground on 56,000 SF Office Building in Sugar Land, Texas

by Taylor Williams September 27, 2019

SUGAR LAND, TEXAS — Rosenberger Construction has broken ground on a 56,000-square-foot office building for software developer HCSS in Sugar Land, located southwest of Houston. The property will be the third office building on the company’s 12-acre corporate campus. HCSS expects to add about 200 new employees to the new building, which will include a full kitchen, multiple lounge areas, a fitness center and an indoor racquetball court. A timeline for completion was not released.

September 27, 2019

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