Texas

Berkadia Negotiates Sale of 387-Unit Apartment Community in Houston

by Taylor Williams October 21, 2019

HOUSTON — Berkadia has negotiated the sale of The Everly, a 387-unit multifamily community in Houston. Built in 2018, the property features one- and two-bedroom units with stainless steel appliances, walk-in closets, custom cabinetry and quartz countertops. Community amenities include a fitness center, Wi-Fi lounge, pool, outdoor fire pit, dog park and dog wash, beer garden and an indoor golf simulator. Ryan Epstein, Jennifer Ray and Scott Bray of Berkadia represented the seller, San Antonio-based Embrey Partners Ltd., in the transaction. The buyer was The Praedium Group, a privately held investment firm based in New York.

October 21, 2019

Industrial Leasing Activity Texas

Premier Refrigerated Warehouse to Occupy 200,000 SF at New Cold Storage Facility Near Fort Worth

by Taylor Williams October 21, 2019

BURLESON, TEXAS — Premier Refrigerated Warehouse, a locally based provider of cold storage solutions, has inked a deal to occupy 200,000 square feet at a new facility underway in Burleson, located south of Fort Worth. Austin-based Yukon Ventures and New Jersey-based Saxum Real Estate are co-developing the 400,000-square-foot property. According to the Dallas Business Journal, the facility is valued at approximately $50 million and is expected to be complete by the fourth quarter of 2021.

October 21, 2019

Hospitality Loans Texas

Greysteel Arranges Refinancing of 62-Room La Quinta Hotel in Gonzales, Texas

by Taylor Williams October 21, 2019

GONZALES, TEXAS — Greysteel has arranged a loan of an undisclosed amount for the refinancing of a 62-room La Quinta Inn & Suites by Wyndham hotel in Gonzales, about 75 miles east of San Antonio. Situated on Highway 183, the property is in close proximity to historic sites including the Gonzales Memorial Museum and Texas Heroes Square. Mitt Patel and Daniel Hartnett of Greysteel arranged the fixed-rate loan on behalf of the undisclosed borrower.

October 21, 2019

Acquisitions Development Hospitality Texas

Brasfield & Gorrie to Build 500-Room Omni Hotel at New PGA Headquarters in Frisco

by Alex Tostado October 18, 2019

FRISCO, TEXAS — General contractor Brasfield & Gorrie has been selected to build a new 500-room Omni Hotel & Resort at the future site of the PGA of America’s headquarters in Frisco. The property will include a retail village, golf villas, a clubhouse and a variety of outdoor amenities. The PGA is relocating from South Florida to a 600-acre development that is slated for completion in 2022.

October 18, 2019

Development Office Texas

Stonelake Capital Underway on 24-Story Office Tower at The Domain in Austin

by Alex Tostado October 18, 2019

AUSTIN, TEXAS — Stonelake Capital Partners is underway on construction of Domain Tower II, a 24-story office project within The Domain mixed-use development on Austin’s north side. Designed by Beck Group, the property will ultimately span 330,000 square feet. A timeline for completion was not released. Stonelake recently completed construction of Domain Tower, which is fully leased to employment search engine Indeed.

October 18, 2019

Acquisitions Industrial Texas

Finial Investments Acquires 23,750 SF Industrial Building in Houston

by Alex Tostado October 18, 2019

HOUSTON — Finial Investments has acquired a 23,750-square-foot industrial building located at 203 Blue Bell Road in Houston. The property was fully leased at the time of sale to ACE Steel Supply. Doc Perrier of Finial Group represented the buyer in the transaction on an internal basis. The seller was not disclosed.

October 18, 2019

Leasing Activity Retail Texas

Belk, T.J. Maxx Open Stores at Shops at Broad in Mansfield, Texas

by Alex Tostado October 18, 2019

MANSFIELD, TEXAS — Belk Department Store and T.J. Maxx have opened their stores at Shops at Broad, a 430,000-square-foot mixed-used development located in Mansfield, located southeast of Fort Worth. The new retail and restaurant locations will join Academy Sports + Outdoors and At Home, both of which opened in October 2018. CBRE handles leasing of the property on behalf of the owner and developer, Geyer Morris Co.

October 18, 2019

Leasing Activity Office Texas

JLL Negotiates 22,414 SF Office Lease at Pier 1 Imports Building in Fort Worth

by Alex Tostado October 18, 2019

FORT WORTH, TEXAS — JLL has negotiated a 22,414-square-foot office lease for Property Damage Appraisers at the Pier 1 Imports building in Fort Worth. The space will serve as the company’s new corporate headquarters. Michael Morgan of Hertz Investment Group, which owns the building, and Pat McDowell of JLL handled the transaction.

October 18, 2019

Industrial Leasing Activity Texas

Office Furniture Distributor Signs 251,754 SF Industrial Lease in Houston

by Alex Tostado October 17, 2019

HOUSTON — COE Distributing, a wholesale distributor of office furniture, has signed a 251,754-square-foot industrial lease at Highland Grove Industrial Park in northwest Houston. COE will lease newly renovated cross-dock space that was formerly occupied by grocery chain Randalls. Cory Driskill and Travis Covington of Crow Holdings Industrial and Faron Wiley of CBRE represented the landlord, CRP/CHI Randalls Owner LP, in the lease negotiations. John Parsley, Barrett Gibson and Jason English of Colliers International represented the tenant.

October 17, 2019

Acquisitions Multifamily Texas

Arrowroot Acquires 192-Unit Lamar Station Apartments in Austin

by Alex Tostado October 17, 2019

AUSTIN, TEXAS — Arrowroot Real Estate, a California-based private equity firm, has acquired Lamar Station Apartments, a 192-unit community in North Austin. Built in 1983, the property’s unit interiors were recently upgraded, and Arrowroot plans to implement capital improvements to the amenity spaces as well. Charles Cirar and Michael Wardlaw of CBRE brokered the transaction, representing the undisclosed seller. Brian Eisendrath and Cameron Chalfant, also with CBRE, arranged $22.4 million in acquisition financing on behalf of Arrowroot.

October 17, 2019

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