Texas

Karr Self-Storage Arranges Sale of 297-Unit Facility in South Dallas

by Taylor Williams May 15, 2018

DALLAS — Karr Self-Storage, a division of Marcus & Millichap, has arranged the sale of Oak Cliff Bargain Storage, a 297-unit facility in South Dallas. The property was built in 1973 and underwent renovations in 2015. Features include an on-site manager’s residence, modern office and showroom, perimeter fencing, gated entry and 16 surveillance cameras. Brandon Karr and Danny Cunningham of Karr Self-Storage represented the seller, a national operator headquartered in the Pacific Northwest. The duo also procured the buyer, a private investor.

May 15, 2018

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Negotiates Sale of 113,000 SF Industrial Property in Houston

by Taylor Williams May 15, 2018

HOUSTON — Lee & Associates has negotiated the sale of a 113,000-square-foot industrial property located at 13827 W. Hardy Road on Houston’s north side. The two-building, crane-served property was built in 1981 and includes roughly 5,700 square feet of office space between the two buildings. Mike Spears and Robert McGee of Lee & Associates represented the undisclosed seller in the transaction. Clay Pritchett of NAI Partners represented the buyer, Houston-based Quasar GP LLC.

May 15, 2018

Acquisitions Industrial Texas

NAI Partners Closes Sale of 89,914 SF Manufacturing Facility in Houston

by Taylor Williams May 15, 2018

HOUSTON — NAI Partners has closed the sale of an 89,914-square-foot manufacturing facility located at 6100 Cunningham Road in northwest Houston. An affiliate of United Equities Inc., a Bellaire, Texas-based real estate development and management firm, purchased the facility for an undisclosed price. The buyer will lease the space back to the seller, engineering firm KMEC. Travis Land and Michael Keegan of NAI Partners brokered the deal.

May 15, 2018

Acquisitions Retail Texas

NewQuest Properties Sells 71,107 SF Retail Center in Houston

by Taylor Williams May 14, 2018

HOUSTON — A partnership led by NewQuest Properties has sold Westlake Shopping Center, a 71,107-square-foot retail center located near the Houston-Katy line on the city’s west side. NewQuest has owned the property, which is anchored by a 24 Hour Fitness, since 2005. Brad Elmore of NewQuest represented the seller of record in the transaction. Matt Berry and Robbie Kilcrease of CBRE represented the buyer, Rising Sale Westlake LLC, in the transaction. The center was 95 percent leased at the time of sale.

May 14, 2018

Healthcare-Associates-of-Texas-Southlake

Acquisitions Healthcare Texas

Marcus & Millichap Negotiates Sale of 10,750 SF Healthcare Asset in Metro Fort Worth

by Taylor Williams May 14, 2018

SOUTHLAKE, TEXAS — Marcus & Millichap has negotiated the sale of a 10,750-square-foot healthcare asset located in Southlake, a northern suburb of Fort Worth. The property is net-leased to Healthcare Associates of Texas. Zach Ryan and Ron Hebert of Marcus & Millichap represented the seller, a Southlake-based private investor, in the transaction. Mark Allen of Marcus & Millichap procured the buyer, also a Southlake-based investor. Both parties requested anonymity.

May 14, 2018

Development Industrial Texas

TAC to Redevelop 270,000 SF of Industrial Space in Texarkana, Texas

by Taylor Williams May 14, 2018

TEXARKANA, TEXAS — TexAmericas Center (TAC), a Texas-based redevelopment authority specializing in the revitalization of former military industrial product, will rehabilitate part of the former Lone Star Army Ammunition Plant in Texarkana. The project will add approximately 270,000 square feet of sub-dividable, move-in-ready industrial space to the property, which is located on the company’s East Campus. Retrofit plans will include the installation of three-phase electricity, office space, bathrooms and fire suppression systems. TAC expects the new space to become available for occupancy by early November.

May 14, 2018

Loans Multifamily Oklahoma Texas

Harborview Arranges $5.9M in Agency Financing for Two Multifamily Assets in Texas, Oklahoma

by Taylor Williams May 14, 2018

EDMOND, OKLA. AND CANYON, TEXAS — New York-based Harborview Capital has closed agency financing for two multifamily properties in Texas and Oklahoma. The company arranged a $4.9 million Freddie Mac loan for the refinancing of a 98-unit community in Edmond, a northern suburb of Oklahoma City, and a roughly $1 million Fannie Mae loan for the refinancing of a 23-unit community in the West Texas city of Canyon. Jeffrey Fuchs of Harborview arranged the non-recourse loans, which feature fixed interest rates and 30-year amortization schedules. The names of the properties and borrowers were not disclosed.

May 14, 2018

Acquisitions Industrial Office Texas

Cravey Brokers Sale of 6,372 SF Flex Property in Corpus Christi

by Taylor Williams May 14, 2018

CORPUS CHRISTI, TEXAS — Cravey Real Estate Services Inc. has brokered the sale of a 6,372-square-foot flex property located at 229 S. Padre Island Drive in Corpus Christi. Built in 1991, the property is zoned for light industrial uses and consists of 5,272 square feet of office space and 1,100 square feet of warehouse space. Matt Cravey of Cravey Real Estate Services represented the seller, Charan Investments Ltd. Scott Fauver, also with Cravey Real Estate Services, represented the buyer, Koetter Fire Protection, a Dallas-based provider of fire protection systems.

May 14, 2018

Texas-Health-Harris-Methodist-Fort-Worth

Development Healthcare Texas

Texas Health Resources to Undertake $300M Expansion Project at Fort Worth Hospital

by Taylor Williams May 11, 2018

FORT WORTH, TEXAS — Arlington-based healthcare provider Texas Health Resources will undertake a $300 million expansion project at Texas Health Harris Methodist Hospital Fort Worth. The project will include a nine-story tower that will feature 144 patient beds, 15 surgical suites and pre- and post-operative service areas. The tower will also include space for support services and two floors will be used as shell space for future expansion. Additional parking space will also be added to the hospital, which opened in 1930 and currently features 720 beds. Construction is slated to begin later this year and wrap up in late 2021.

May 11, 2018

Acquisitions Multifamily Student Housing Texas

PAC Acquires 808-Bed Student Housing Property in College Station

by Taylor Williams May 11, 2018

COLLEGE STATION, TEXAS — A subsidiary of Preferred Apartment Communities Inc. (PAC), a publicly traded multifamily investment firm, has acquired The Tradition, an 808-bed student housing property in College Station. The 427-unit community is located one block away from Texas A&M University and features amenities such as a pool, outdoor grilling areas, 24-hour fitness center, computer stations, Starbucks Coffee bar, theater room and a game room. PAC financed the acquisition with a $30 million first mortgage bridge loan from Macquarie Group, an Australian investment banking firm. The seller was not disclosed.

May 11, 2018

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