MEXIA, TEXAS — Henry S. Miller Co. (HSM) has brokered the sale of Mexia Plaza, a 16,600-square-foot retail center located at 1322 Milam St. in Mexia, a city approximately 40 miles east of Waco. Shadow-anchored by Walmart, the property was 100 percent occupied at the time of sale to tenants such as Cricket Wireless, Hibbett Sports and Payday Loans. Lane Kommer of HSM represented the seller in the transaction, and Michelle Hudson of Hudson Peters represented the buyers.
SAN ANTONIO — LYND Co., a San Antonio-based investment firm, has acquired a portfolio of 11 multifamily properties located in various markets throughout Texas. The portfolio spans 2,405 units with an average age of 12 years. The largest concentration of the portfolio’s assets is in Dallas, with properties in Houston, Midland, Odessa and El Paso as well.
HOUSTON — Oil and gas firm Apache Corp. has signed a 26-month lease extension at Post Oak Central, a 1.3 million-square-foot campus in Houston’s Galleria neighborhood, with owner Parkway Inc., a publicly traded REIT. Apache, which currently occupies 524,000 square feet within the complex, will remain on the site through February 2022. Tim Relyea and Scott Wegmann of Cushman & Wakefield represented Apache in the lease negotiations.
KATY, TEXAS — Rockspring Capital, a Houston-based investment firm, has sold a 1,619-acre tract in Katy located off U.S. Highway 290 and Katy Hockley Road to Johnson Development Corp., a Houston-based developer of master-planned communities. The sales price was not disclosed. Chris Hutcheson, Matthew Herring and James Kadlick of McAlister Real Estate represented Rockspring Capital in the transaction. Dave Ramsey of NewQuest Properties represented Johnson Development.
SAN MARCOS, TEXAS — The Preiss Co. has acquired Cabana Beach San Marcos, a 744-bed student housing property located at 1250 Sadler Drive in San Marcos, approximately 3.5 miles from Texas State University. Amenities include a pool, dog park, volleyball and basketball courts, a computer lab and study room. The company plans to upgrade 114 of the property’s units and renovate its clubhouse.
FORT WORTH, TEXAS — Home2 Suites by Hilton has opened a new, 93-suite hotel located at 5401 SW Loop 820 near the Interstate 20 exchange in Fort Worth. Branded Home2 Suites by Hilton Fort Worth Southwest Cityview, the property offers a heated saline pool, a combined fitness and laundry area and an outdoor patio with a grill area. Lotus Lodging Fort Worth LLC will manage the hotel.
AUSTIN, TEXAS — Bellomy & Co. has arranged the sale of South Congress Storage, a 447-unit self-storage facility in Austin. Situated on 6.5 acres at 8008 S. Congress Ave., the 10-building facility spans 39,410 square feet of net rentable space. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the undisclosed seller and procured the buyer, Devon Self Storage. Both parties involved in the transaction are based in California.
HOUSTON — MenMar Properties LLC has acquired a 21,000-square-foot building with office and warehouse space located at 4202 Telephone Road in Houston. The property will be leased to Fiesta Beverage Mart for retail and storage purposes. Barrett Von Blon of Davis Commercial represented the seller, City Office Supply Inc., in the transaction.
SAN ANTONIO — The University of Texas at San Antonio has broken ground on Phase I of construction for a new, $95 million Science and Engineering Building. Designed by San Antonio-based Alamo Architects and national architecture firm TreanorHL, the four-story, 153,000-square-foot building is the largest construction project in school history. Scheduled for a May 2020 completion, the project is funded primarily by tuition revenue bonds approved during the 2015 Texas legislative session.
BEE CAVE, TEXAS — St. Croix Capital Advisors will develop Gateway to Falconhead, an 80,000-square-foot mixed-use asset located on a 14.6-acre tract located at the corner of Ranch to Market Road 620 and Falconhead Boulevard in the Austin metro of Bee Cave. Construction recently began on the six-building project, which will deliver office, medical and retail space. The latter is 70 percent preleased to tenants such as Westbank Dry Cleaners and Epic Nails. Southstar Bank provided financing for the property, which is expected to be ready for occupancy in the fourth quarter.
