SAN ANTONIO — Houston-based DC Partners will develop Thompson San Antonio Hotel, a 162-room hospitality project that will be located in the RiverWalk area of San Antonio. The 20-story property will also include 58 residences. Amenities will include 5,000 square feet of meeting space, a pool with cabanas and a bar, fitness center and a spa. Construction is expected to begin within the next month, according to realtynewsreport.com.
SAN ANTONIO — HFF has negotiated the sale of Nacogdoches Crossing, a 22,434-square-foot shopping center located at 6826 N. Loop 1604 in northeast San Antonio. The property, which is shadow-anchored by a Walmart Supercenter and leased to tenants such as Taco Cabana and Rolling Oaks Dental, includes two acres of development-ready land that can accommodate about 19,000 square feet of additional retail space. John Taylor and Drew Fuller of HFF represented the seller, Santikos Real Estate Services, a San Antonio-based retail developer, in the transaction. A private investor purchased the asset free and clear of debt for an undisclosed price.
DALLAS — CBRE has brokered the sale of Rosemont at Timber Creek, a 100-unit affordable housing community in south Dallas. The property was built in 2003 and was 99 percent occupied at the time of sale. Amenities include a pool, playground, fitness center and business center. Jeff Kunitz, Alex Medeiros, Chris Deuillet and Chandler Sims of CBRE represented the seller, Cascade Affordable Housing, in the transaction. Minnesota-based Dominium Development and Acquisition purchased the property for an undisclosed price.
BAYTOWN, TEXAS — Marcus & Millichap has arranged the sale of A Low Cost Self Storage, a 305-unit self-storage facility in the Houston metro of Baytown. The sale of the 35,214-square-foot property includes 1.5 acres of expansion land fronting State Highway 146. Dave Knobler of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Knobler also procured the buyer, an individual who owns 14 self-storage facilities along the Texas Gulf Coast operating under the name The Storage Place.
FARMERS BRANCH, TEXAS — JPI will develop Jefferson East Branch, a 741-unit multifamily community that will be located in the northern Dallas metro of Farmers Branch. The property will be situated near Addison Circle, a development that spans 500,000 square feet of office space and 120,000 square feet of retail space. Construction of Phase I, which will deliver 390 units, is slated to begin in late 2019, with the first occupancy scheduled for summer 2020. Construction of Phase II, which will deliver 351 units, is expected to begin during the spring of 2020.
MOORE, OKLA. — KeyBank Real Estate Capital has secured $22.5 million in acquisition financing for The Villas at Countryside, a 360-unit multifamily community in Moore, a southern suburb of Oklahoma City. The property was built in 2002 and consists of 21 three-story buildings situated on 18.6 acres. Chris Black and Caleb Marten of KeyBank secured the Fannie Mae loan, which features a five-year term, two years of interest-only payments and a 30-year amortization schedule.
HOUSTON — The Richland Cos. has acquired 8100 Westpark, a 74,462-square-foot industrial property situated on 3.9 acres in Houston. The property offers access to the Sam Houston Tollway and Southwest Freeway, and features 18-foot clear heights, nine rear-load, dock-high doors and semi-dock and grade-level loading bays. The property, which marks Richland’s 15th acquisition in Houston, was 100 percent leased at the time of sale to tenants such as Hoffer Furniture, Pak Man Supply and DragoArt Tattoo Supply.
ARLINGTON, TEXAS — Lee & Associates has negotiated a 49,280-square-foot industrial lease at 2023 Exchange Drive in Arlington. Mark Graybill and Colton Rhodes of Lee & Associates represented the landlord, GLP, a provider of global logistics solutions, in the lease negotiations. Conrad Madsen and Greg Nelson of Paladin Partners represented the tenant, Prestige Autotech Corp. a California-based provider of automotive wheels.
AUSTIN, TEXAS — TREK Investment Group has brokered the sale of Tech Ridge Center, an 8,200-square-foot retail center in north Austin. Built in 2017, the Class A center was 100 percent leased at the time of sale to Orangetheory Fitness, Smoothie King and Mattress One. Parker Carroll of TREK represented the undisclosed buyer in the transaction. Other terms of sale were not released.
HOUSTON — CBRE has arranged the sale of Macy’s at West Oaks Mall, a 243,337-square-foot retail property situated on 18 acres at the corner of Westheimer Boulevard and State Highway 6 in Houston. 1st Emporium Inc., the retail division of digital investment firm Mehta Investments, purchased the two-building asset from Macy’s Holdings for an undisclosed price. The buyer, which also purchased the remainder of the mall in 2017, plans to redevelop the space into a department store that will be branded The Outlet at West Oaks. That store, which will specialize within clothing and home goods, is expected to open in the next six months. The first committed retailer to join The Outlet at West Oaks will be Formal Gallery, a formal dress shop. Brian Ashby and Sydney Dixon of CBRE represented Macy’s Holdings in the transaction.
