AUSTIN, TEXAS — Nordic Realty Partners, a privately held investment firm with offices in Los Angeles, Austin and Chicago, has purchased a 76,000-square-foot industrial property located within Cameron Industrial Park in northeast Austin. The property spans four acres and houses three warehouse buildings. The seller, Byram Properties, has owned the buildings since 1984.
SAN ANTONIO AND LAS VEGAS — The Preiss Co. (TPCO), in a joint venture partnership with BCEG International Investment US (BCEGI), has acquired the 624-bed High View Place Student Apartments in San Antonio and the 480-bed Rebel Place in Las Vegas. Neither the sellers nor purchase prices were disclosed. Located at 15949 Chase Hill Blvd. and serving the University of Texas at San Antonio student population, High View Place offers a variety of one-, two- and four-bedroom floor plans. Each of the 204 units includes a kitchen, balcony, in-unit washer and dryer, 50-inch TV, complimentary high-speed internet and cable, and walk-in closets. Amenities include study spaces, a clubhouse, computer lab, swimming pool, gaming center, sand volleyball court and grilling area. TPCO is overseeing a multi-million refurbishment of the property, which marks the company’s third acquisition in the San Antonio market in the last 12 months. Plans call for electronic key-fob installation and upgrades to the interior flooring, amenities and internet service. Rebel Place is located at 3896 Swenson St. near the University of Nevada, Las Vegas. Each fully furnished apartment includes energy-efficient appliances, cable television packages, internet and in-unit washer and dryers. Community amenities include a fitness center, picnic area, …
MOUNTAIN VIEW, CALIF. — Search engine giant Google has announced a heavy investment in the state of Texas. The company has broken ground on a new $600 million data center in Midlothian. The project will serve as Google’s first data center in Texas. The tech firm has also executed two new office leases in Austin where there are already 1,100 Google employees working across various platforms including Android, G Suite, Google Play, Cloud and general office functions like operations and marketing. Google has leased space at Trammell Crow Co.’s Block 185 project in downtown Austin. The Austin American-Statesman reports that Google will lease the entire 35-story tower, which is located at West Cesar Chavez and Nueces streets. The newspaper also reports that Google has leased seven stories of office space totaling 150,000 square feet within the Saltillo mixed-use project. Local developer Endeavor Real Estate Group is building the East Austin project and will serve as Google’s new landlord. These new commitments are part of Google’s larger $13 billion investment in offices and data centers across the United States that was announced back in February.
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.