PEARLAND, TEXAS — GreenSpace Self-Storage LLC will develop a 1,000-unit facility on a 2.4-acre parcel in the southwestern Houston suburb of Pearland. The Class A property will offer 100,000 square feet of net rentable space, with both climate- and non-climate-controlled units. Construction is scheduled to begin later this year. Chris Bergmann Jr. of JLL represented GreenSpace, which also has projects underway in Sacramento, Philadelphia and Portland, in the land acquisition deal.
BAYTOWN, TEXAS — Wood Partners, a multifamily development and investment firm with offices around the country, has opened Alta Baytown, a 336-unit apartment community located in the eastern Houston suburb of Baytown. Floor plans feature one-, two- and three-bedroom units with granite countertops, custom backsplashes and full-size washers and dryers. Amenities include a business center with two private conference rooms, fitness center, bike shop and a pet park. Rents start at roughly $1,000 per month for a one-bedroom unit, according to apartments.com.
HOUSTON — Marcus & Millichap has brokered the sale of U-Stuf-It, a 228-unit self-storage facility located in southwest Houston. Dave Knobler of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a limited liability company. Both parties requested anonymity.
HOUSTON — Greystar has broken ground on a 152-unit multifamily community at 510 W. 20th St. in Houston’s Heights neighborhood. Designed by Meeks + Partners, the community will offer one- and two-bedroom units ranging in size from 850 to 1,900 square feet. Penthouse units ranging in size from 1,700 to 2,300 square feet will also be available for lease. Amenities will include a clubroom, business center, fitness and yoga rooms, a resort-style pool with outdoor kitchen and a high-end sky lounge at the top floor. Completion is slated for spring 2021.
San Antonio has at times been characterized as “a big city with a small-town feel.” However, with an MSA surpassing 2 million people and a claim to being one of the country’s largest and fastest growing cities, the small-town feeling is fading quickly. With robust population growth, strong job numbers and a decade of prosperity to lean on, our retail business is more dynamic than ever. It should be of no surprise to this readership that like other areas of the country, San Antonio is facing continued pressure on traditional brick-and-mortar retail as e-commerce continues to grow and penetrate the market. Yet many local and regional retailers are adapting. One of the best examples of this adaptation is H-E-B, San Antonio’s dominant supermarket chain, which has taken on the e-commerce challenge by integrating an online grocery shopping experience with the option of home delivery or curbside pickup at select stores. Currently, H-E-B is under construction on its second fulfillment center next to its retail store at Bulverde Marketplace. As retailers evolve, retail developers and property owners are experiencing swift changes within their tenant lineups and are working diligently to ensure their marketplaces continue to attract customers. Entertainment, fitness and health …
PLANO, TEXAS — CONTI Organization, a multifamily investment firm that specializes in value-add deals, has acquired Waterford on the Meadows, a 350-unit complex in Plano. Built on 22 acres in 1984, the garden-style property offers one- and two-bedroom units and amenities such as three pools, a volleyball court and onsite laundry facilities. The seller was California-based Steadfast Income REIT. CBRE brokered the transaction. With this acquisition, CONTI now owns 29 multifamily communities totaling 8,180 units in the metroplex and 40 properties in Texas.
HOUSTON — An affiliate of locally based investment firm Fuller Realty Partners has purchased Parkview I and II, two office buildings totaling 175,700 square feet in Houston’s Energy Corridor area. Both properties were built in the 1980s and were a combined 11 percent leased at the time of sale. Rick Goings, Rudy Hubbard and Kevin McConn of JLL represented the seller, LNR Partners, in the transaction.
HOUSTON — HFF has negotiated the sale of Kempwood Tech Center, an industrial property consisting of three buildings totaling 113,117 square feet in northwest Houston. The warehouses are situated on 7.2 acres at 2700-2778 Bingle Road near Interstate 10 and U.S. Highway 290. Marty Hogan and Charles Strauss of HFF marketed the property in conjunction with Ten-X on behalf of the seller, LNR Partners LLC. Scott Wilkerson of Garver Real Estate represented the buyer, a limited partnership.
HUMBLE, TEXAS — Houston-based developer Archway Properties has completed a 65,000-square-foot healthcare property in Humble, a northern suburb of Houston. Vital Heart & Vein occupies the Class A facility, which includes an ambulatory surgical center, imaging center, cardiology clinic and administrative areas. E.E. Reed Construction served as general contractor, and Powers Brown Architecture handled the design.
IRVING, TEXAS — CBRE has brokered the sale of Hidden Village, a 176-unit apartment community in Irving. Chris Deuillet and Chandler Sims of CBRE represented the seller in the transaction. The buyer was EBEX Irving Apartments LLC, which acquired the asset for an undisclosed price. Hidden Village was 96 percent occupied at the time of sale. The gated community features a clubhouse, onsite laundry services, picnic areas and a playground.
