Texas

CBRE Brokers Sale of 80,000 SF Medical Building in San Antonio

by Taylor Williams November 28, 2017

SAN ANTONIO — CBRE has arranged the sale of an 80,000-square-foot medical building located at 5109 Medical Drive in San Antonio. Built in 2008, the property is located on the CHRISTUS Santa Rosa medical center campus on the city’s northwestern side. The facility includes 38 semi-private rooms for 100 patient beds, a clinical lab and a pharmacy. Scott Herbold of CBRE represented the seller, Stream Realty Partners, in the transaction. PPH Real Estate LLC, a partnership of local physicians and investors, purchased the asset for an undisclosed price.

November 28, 2017

NorthMarq Arranges $15.8M Refinancing for Apartment Complex in Midland

by Taylor Williams November 28, 2017

MIDLAND, TEXAS — NorthMarq Capital has arranged a $15.8 million refinancing of The Azure, a 156-unit affordable housing property in the West Texas city of Midland. The property offers amenities such as a business center, resident clubhouse, pool and fitness center. Carl Pankratz of NorthMarq Capital secured the 10-year Freddie Mac loan, which features a 30-year amortization schedule. The borrower was not disclosed.

November 28, 2017

Office Texas

Peloton Secures 5,631 SF Office Lease in North Austin

by Taylor Williams November 28, 2017

AUSTIN, TEXAS — Peloton Commercial Real Estate LP has secured a 5,631-square-foot office lease at 3918 N. Lamar Blvd. in north Austin on behalf of Austin-based restaurant operator K&N Management. The site will serve as the new location for Rudy’s Country Store and Bar-B-Q. Tom Rhea and Brian Liverman of Peloton represented the tenant in the lease negotiations. Jack Burton of Crockett Partners represented the landlord.

November 28, 2017

Multifamily Texas

WaterWalk Breaks Ground on 153-Unit Multifamily Property in Richardson

by Taylor Williams November 27, 2017

RICHARDSON, TEXAS — Kansas-based development firm WaterWalk has broken ground on WaterWalk Richardson, a four-story, 153-unit multifamily property at 2210 N. Glenville Drive in the northeastern Dallas metro of Richardson. The property will offer the services and amenities of an upscale hotel, such as a coffee bar, media room and lobby. Wichita-based The Law Co. is serving as general contractor on the project, and Dallas-based Woolpert is the architect and civil engineer. The expected completion date is November 2018.

November 27, 2017

Multifamily Texas

Greystar Completes 355-Unit Apartment Community in Austin

by Taylor Williams November 27, 2017

AUSTIN, TEXAS — Greystar has completed Platform, a 355-unit multifamily community located at 2823 E. Martin Luther King Jr. Blvd. in Austin. Designed by Meeks + Partners, the transit-oriented property incorporates three- and four-story apartments, as well as three-story townhomes and roughly 10,000 square feet of ground-floor retail space. Amenities include three pools, an outdoor kitchen and TV lounge, private workspaces, a social dining and bar area and a fitness center.

November 27, 2017

Industrial Texas

JLL Arranges Sale of 454,408 SF Distribution Center in Metro Dallas

by Taylor Williams November 27, 2017

DESOTO, TEXAS — JLL has arranged the sale of Eagle Park 20/35, a 454,408-square-foot distribution center located at 1240 E. Centre Park Blvd. in the Dallas metro of DeSoto. The Class A facility is situated on 29.5 acres and features access to Interstates 20 and 35. Dustin Volz and John Huguenard of JLL represented the seller, a joint venture between Ridgeline Property Group and Stockbridge Capital Group, and procured the buyer, an undisclosed institutional investor.

November 27, 2017

Industrial Self-Storage Texas

SST IV Acquires 480-Unit Self-Storage Facility in Texas City

by Taylor Williams November 27, 2017

TEXAS CITY, TEXAS — Strategic Storage Trust IV Inc. (SST IV), a public, non-traded REIT, has acquired a 480-unit self-storage facility located at 3730 Emmett F. Lowry Expressway in Texas City, about 45 miles southeast of Houston. Built in 2010, the 8,000-square-foot facility is situated on 10.5 acres and offers climate-controlled interiors and drive-up access. The property was approximately 95 percent occupied at the time of sale.

November 27, 2017

Retail Texas

STRIVE Brokers Sale of Retail Pad Site Leased to Dairy Queen in Houston

by Taylor Williams November 27, 2017

HOUSTON — STRIVE has brokered the sale of a retail property leased to Dairy Queen in Houston. The property is a pad site to Mount Houston Square Shopping Center, a 175,000-square-foot retail center located on the city’s north side. Jason Vitorino of STRIVE represented the seller, an Atlanta-based developer, and procured the buyer, a Houston-based investor. Other terms of sale were not released.

November 27, 2017

Healthcare Texas

Medistar to Develop 555,000 SF, Class A Medical Office Tower in Houston

by Taylor Williams November 22, 2017

HOUSTON — Medistar Corp. will develop a 550,000-square-foot, Class A medical office tower at 6700 Main St. in Houston, adjacent to the Texas Medical Center. The site previously housed a Best Western hotel, which will soon be demolished. The property will feature an oversized parking garage and an undetermined amount of ground-floor retail space, in addition to space for both physicians and healthcare providers. A timetable for completion has not yet been established.

November 22, 2017

Office Texas

CBRE Brokers Sale of 232,389 SF Office Building in Dallas

by Taylor Williams November 22, 2017

DALLAS — CBRE has brokered the sale of Hidden Grove at 12404 Park Central, a 232,389-square-foot office building located in the Park Central area on Dallas’ north side. The Class A property was 99.8 percent leased at the time of sale. A partnership between Reserve Capital Partners and Trinity Private Equity Group purchased the asset from Red River Asset Management for an undisclosed price. John Alvarado, Gary Carr, Eric Mackey, Evan Stone, Jared Chua and Robert Hill of CBRE represented the seller in the transaction. Nora Hogan of Transwestern represented the buyer.

November 22, 2017

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