MCALLEN AND CORPUS CHRISTI, TEXAS — Hilco Real Estate LLC has brokered the sale of two retail assets totaling 28,300 square feet in South Texas. The first property is a 14,500-square-foot building located in the Rio Grande Valley city of McAllen, and the second is a 13,800-square-foot building in Corpus Christi. The buyers and sellers were not disclosed.
AUSTIN, TEXAS — A partnership between Oakland-based Catellus Development Corp. and investment firm Shorenstein Properties LLC will develop a 750,000-square-foot office project in Austin. The new space will be delivered across three buildings, the first of which will contain 20,000 square feet of retail space and a 985-space parking garage. The new office campus will be part of Mueller, a 700-acre mixed-use development located at the site of the former Robert Mueller Municipal Airport. Page Southerland Page Architects is handling design of the project, which includes a 985-space parking garage and is expected to be complete by late 2020. AQUILA Commercial is leasing the office portion of the project and CBRE is leasing the retail portion.
KATY, TEXAS — Clay Development & Construction Inc. has broken ground on Pederson Distribution Center I, a 621,920-square-foot speculative distribution center at Interstate 10 and U.S. Highway 90 in Katy, a western suburb of Houston. The cross-dock property will be situated on 30.8 acres and is expected to be complete by August 2019. Building features will include 36-foot clear heights, 147 dock-high doors, 130-foot truck courts and up to 256 employee parking spaces and 170 trailer parking spaces. Frost Bank provided construction financing. NAI Partners will handle leasing of the property with assistance from Clay.
HOUSTON — Local firm Davis Commercial Development has acquired 34.9 acres on which to build an industrial project at the intersection of Interstate 45 and Cypress Creek Parkway in north Houston. The property will be located near ExxonMobil’s campus and George Bush Intercontinental Airport. Todd Edmonds and Michelle Soderberg of Colliers International represented the seller, Hendricks Interests LLC, in the land sale. Colliers will also market the property, which will consist of two cross-dock, single-tenant buildings.
TOMBALL, TEXAS — The parent company of Hoelscher Weatherstrip Manufacturing Co., which specializes in custom doors and weatherstripping, has acquired land in the northwestern Houston suburb of Tomball for the construction of a 193,000-square-foot plant. The project is valued at $10.6 million and is expected to create about 120 new jobs. A timeline for construction and occupancy was not provided.
HOUSTON — NAI Partners has secured a 22,800-square-foot industrial lease at 4140 World Houston Parkway in Houston for COSA Xentaur, a provider of equipment for the petrochemical, energy and pharmaceutical industries. Jake Wilkinson of NAI Partners represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
LEWISVILLE, TEXAS — Tampa-based multifamily owner-operator American Landmark has acquired Emery Bay at Lakepointe, a 360-unit multifamily community located in the northern Dallas metro of Lewisville. Built in 1997, the property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, spa, business center, dog park and a volleyball court. American Landmark will invest $3.5 million in capital improvements to the unit interiors and amenity spaces. Mitch Sinberg, Matt Robbins, Robert Falese and Matthew Cullison of Berkadia secured a $36.5 million Fannie Mae acquisition loan on behalf of American Landmark for the transaction. The seller was not disclosed.
TYLER, TEXAS — St. Louis-based HDA Architects has completed a 219,000-square-foot industrial project in Tyler, about 100 miles east of Dallas, for beverage distributor GG Distributing Co. The project included renovating 100,000 square feet of a former U.S. Postal distribution center and building an additional 119,000 square feet at the property, which will serve as GG Distributing’s new headquarters. The property features a controlled temperature/concrete tilt-up warehouse for product storage, 25 shipping docks, a drive-thru for loading and an attached maintenance facility. Crossland Construction served as general contractor.
THE WOODLANDS, TEXAS — Moviehouse & Eatery will open an 11-screen theater within Creekside Park Village Center, a 12-acre retail development by The Howard Hughes Corp. (HHC) in The Woodlands, about 30 miles north of Houston. The 42,370-square-foot venue, which will be the company’s first in the Houston area, will offer recliner seats, a full bar and a scratch kitchen. Chris Reyes of SHOP Cos. represented Moviehouse & Eatery in the lease negotiations. Rip Reynolds represented HHC internally. Construction of Creekside Park Village Center will begin this month with completion slated for winter 2019.
FORT WORTH, TEXAS — JLL has arranged an undisclosed amount of acquisition financing for Vieux Coulee Apartments, a 264-unit multifamily property in Fort Worth, on behalf of Los Angeles-based investment firm Frontline Holdings. Built in 1984, the community features a pool, fitness center, business center and a resident clubhouse. Mark Brandenburg and David Godvin of JLL arranged the financing through Bridge Investment Group. The seller was not disclosed.