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MultifamilyStudent HousingTexas

29SC Acquires 488-Bed Student Housing Property in San Marcos, Texas

by Taylor Williams

SAN MARCOS, TEXAS — 29th Street Capital (29SC) has acquired The Reserve at West Avenue, a 152-unit, 488-bed student housing community in the San Antonio metro of San Marcos. Located at 109 West Ave., approximately two miles from Texas State University, the property consists of one-, two-, three- and four-bedroom units, each fully furnished, including washers and dryers. Amenities include a pool, 24-hour fitness center, private study rooms and a clubhouse with a game room. 29SC will invest roughly $1 million to the unit interiors and the property’s amenities.

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RetailTexas

SDI Begins Redevelopment of 39,000 SF Retail Center in Metro Houston

by Taylor Williams

BELLAIRE, TEXAS — SDI Realty Advisors has begun redeveloping Bellaire Town Center, a one-story, 39,000-square-foot retail center in the Houston metro of Bellaire. The project will deliver three buildings and increase the size of the center to 72,000 square feet. Phase I of construction is scheduled for a January 2018 completion and Phase II is scheduled for a fall 2018 completion.

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RetailTexas

HSM Negotiates Sale of 30,200 SF Automotive Facility in Richland Hills, Texas

by Taylor Williams

RICHLAND HILLS, TEXAS — Henry S. Miller Brokerage (HSM) has negotiated the sale of the former All About Autos & North Hills Body Shop, a 30,2000-square-foot facility in the Fort Worth suburb of Richland Hills. Situated on three acres at 3925 Booth Callloway Road and built in 1986, the property features 36 service bays. Bill Bledsoe of HSM represented the seller, J&H Associates LP, in the transaction. John Lucas of KW Commercial represented the buyer, Steve’s Auto Repair.  

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IndustrialTexas

Colliers Arranges Sale of 52,613 SF Industrial Asset in Farmers Branch

by Taylor Williams

FARMERS BRANCH, TEXAS — Colliers International has arranged the sale of Hutton Court, an industrial property in the Dallas-Fort Worth metro of Farmers Branch. The property, which was 87 percent occupied at the time of sale, features 52,613 square feet of office and warehouse space. Lizzy Blake of Colliers represented the seller, Utah-based Mountain West Industrial LLC. Dallas-based Frontier Equity LLC purchased the asset for an undisclosed price.

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RetailTexas

STRIVE Brokers Sale of Freestanding Restaurant in Humble, Texas Leased to Taco Cabana

by Taylor Williams

HUMBLE, TEXAS — Dallas-based investment firm STRIVE has brokered the sale of a 3,583-square-foot retail freestanding retail property in the northern Houston suburb of Humble. Leased to Taco Cabana, the property is an outparcel to a Super Target retail center. Kyle Rozell and Anthony Pucciarello of STRIVE represented the seller, a California-based private investor, and procured the buyer, a Houston-based private investor.

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IndustrialTexas

SEDCO, Thea to Develop 1 MSF Data Center Campus in Sherman

by Taylor Williams

SHERMAN, TEXAS — The Sherman Economic Development Corp. (SEDCO) and Thea Development LLC have announced plans for Cassini Gateway I, a campus capable of accommodating more than 1 million square feet of data center space. The campus will be housed within Progress Park, a 3,300-acre industrial park in the North Texas city of Sherman. The project is expected to draw capital investment in excess of $1 billion and create approximately 300 construction jobs and 150 engineering and technology jobs over five years.

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MultifamilyTexas

Marcus & Millichap Arranges Sale of 240-Unit Apartment Community in Burleson, Texas

by Taylor Williams

BURLESON, TEXAS — Marcus & Millichap has arranged the sale of Dolce Living Burleson, a 240-unit multifamily community in Burleson, a city roughly 15 miles south of Fort Worth. Built in 2013 on 6.5 acres about five miles west of the Interstate 35 interchange, the property’s units average approximately 1,000 square feet. Will Balthrope, Drew Kile and Joey Tumminello of Marcus & Millichap represented the seller and procured the buyer in the transaction.

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LoansMultifamilySeniors HousingTexas

Casa Solace Receives $7M Construction Loan for Memory Care Facility in Houston

by Taylor Williams

HOUSTON — Casa Solace Memory Care has received a $7 million construction loan for a new memory care facility on Space Center Boulevard in Houston. The first phase of construction will deliver a 36-bed facility and a community center totaling 25,600 square feet. Upon completion, the project will feature 90 beds for assisted living and memory care. Kevan McCormack of Metropolitan Capital Advisors Ltd. arranged the loan through an unspecified local bank.

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RetailTexas

STRIVE Brokers Sale of 57,920 SF Retail Center in Canton, Texas

by Taylor Williams

CANTON, TEXAS — Dallas-based investment firm STRIVE has brokered the sale of Trader’s Square Shopping Center, a 57,920-square-foot retail asset located at 301 State Highway 243 in Canton, a city about 60 miles east of Dallas. The center was 79 percent leased at the time of sale to tenants such as GameStop, Nail Depot and It’s Fashion. Bryce Gissler, Will Merritt and James Mangum of STRIVE represented the seller, a Texas-based investment firm, in the transaction. Other terms of sale were not released.

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IndustrialTexas

NAI Partners Arranges Sale of 30,500 SF Industrial Asset in Metro Houston

by Taylor Williams

PEARLAND, TEXAS — NAI Partners has arranged the sale of 4155 S. Main St., a 30,500-square-foot, crane-served industrial property situated on 8.4 acres in the Houston metro of Pearland. Clay Pritchett of NAI Partners represented the buyer, DMP Acquisition Fund LLC, in the transaction. Walter Menuet of Colliers represented the seller, Cornerstone Bank.

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