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MultifamilyTexas

Post Properties Opens Post at Afton Oaks in Houston

by Haisten Willis

HOUSTON — Post Properties has opened Post at Afton Oaks in Houston. Located in Houston’s Afton Oaks neighborhood, the property is the Atlanta-based company’s third Houston-area development and offers one- and two-bedroom apartments available for move-in Oct. 1. Rates start at $1,200 per month. Unit interiors feature stainless steel oven ranges, Whirlpool appliances, wood plank flooring, bathrooms with porcelain tile floors and AT&T U-Verse and Comcast Fiber capabilities. Community amenities include a pool and 2,000-square-foot fitness center. The community is pet-friendly, offering a dog run and washing station.

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IndustrialTexas

ES&H Buys 11 Acres in Grand Prairie for Warehouse Facility

by Haisten Willis

GRAND PRAIRIE, TEXAS — Environmental consultant ES&H has acquired an 11-acre tract across the street from its north Texas hub to develop a warehouse and water treatment facility. The company will break ground in the first quarter of 2017 at 3405 Gilbert Road in Grand Prairie. Will Dillard of Dallas-based Bradford Commercial Real Estate Services represented the buyer in a direct deal with the seller, Lawrence Watts of Dallas. ES&H has received tentative approval from the city for the expansion project. The warehouse will span roughly 20,000 square feet.

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HealthcareOfficeTexas

Rainier Realty Investments Purchases St. Mark’s Medical Office Building in Central Texas

by Haisten Willis

LA GRANGE, TEXAS — Rainier Realty Investments LP has purchased the St. Mark’s Medical Office Building situated on 3.2 acres on St. Mark’s Medical Center campus in La Grange, located halfway between Austin and Houston. Built in 2006, the 31,200-square-foot, single-story medical office building sits is 100 percent leased. Rainier Realty Investments is an affiliate of The Rainier Cos. in Dallas.

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LoansMultifamilyOklahomaTexas

Metropolitan Capital Advisors Arranges $6.8M Loan for Apartment Complex in Oklahoma

by Haisten Willis

MIDWEST CITY, OKLA. — Metropolitan Capital Advisors Ltd. (MCA) has arranged a $6.8 million, fixed-rate loan for Huntington Place Apartments, a 288-unit multifamily complex. The 88 percent-occupied property is located at 1401 N. Midwest Blvd. in Midwest City, a suburb of Oklahoma City. RREAF of Dallas purchased the property. The company plans to make capital improvements to the property, enhance management and improve operations. Scott Lynn of MCA was responsible for arranging the Fannie Mae DUS loan with a fixed 3.2 percent interest rate through Arbor Commercial Mortgage.

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IndustrialTexas

NAI Partners Provides Landlord Representation in 22,400 SF Industrial Lease in Houston

by Haisten Willis

HOUSTON — NAI Partners has represented the landlord in a 22,400-square-foot industrial lease at 2906 Holmes Road in Houston. Chris Caudill and Joel Michael of NAI Partners represented owner KRP Ventures LP during lease negotiations. Mike Easley of Waterman Steel represented the tenant, Premier Auto Transport, a trucking and transportation company.

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RetailTexas

Sterling Organization Acquires Park North Shopping Center in San Antonio for $81M

by Haisten Willis

SAN ANTONIO — Sterling Organization, a private equity real estate investment firm headquartered in Palm Beach, Fla., has acquired Park North, a 635,382-square-foot retail power center in San Antonio. The asset was purchased on behalf of the firm’s institutional value-add fund Sterling Value Add Partners II LP for $81 million. Chris Cozby and Chris Gerard of the CBRE National Retail Investments Group’s Dallas office brokered the transaction. Park North consists of 17 retail buildings on 45.8 acres. The property is located along San Antonio’s Interstate Loop 410 between Blanco Road and San Pedro Avenue. Park North is 73 percent occupied and is anchored by Target, Alamo Drafthouse Cinema and Cost Plus World Market.

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IndustrialTexas

Houston-Based Investor Purchases 40.7 Acres in Dallas County

by Haisten Willis

DALLAS — A group of heirs has sold a 40.7-acre tract of undeveloped land to William Young, a Houston-based investor. The acreage is situated at 10407 S. Central Expressway, where I-45 and I-20 converge in Dallas County. The site features 300 feet of frontage along South Central Expressway. Wayne Burgdorf of Coldwell Banker Commercial Advisors represented the seller, Dallas South 48 JV, an investment group formed in 1986. Suzanne Haselberger of Realty Associates in Houston represented Young in the transaction.

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RetailTexas

SACA Brokers Sale of Two Shopping Centers in San Antonio

by Haisten Willis

SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of two shopping centers located in San Antonio. Both properties are located in the northwest submarket near Loop 410. The first property, located at 5440 Evers Road, is a 4,200-square-foot retail center on 0.3 acres occupied by CD Exchange/DVD Exchange. The second property, located at 6402 Callaghan Road, is a 5,463-square-foot retail center on 0.5 acres with four tenants. SACA’s Brent Smith and Bradley Suttle represented the San Antonio-based seller and procured the buyer as well.

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RetailTexas

Construction Begins on Keene Plaza Redevelopment in Metro Dallas

by Haisten Willis

KEENE, TEXAS — Construction has begun on the redevelopment of Keene Plaza, a retail development in the city of Keene. Samantha Gillin of Gillin Realty LLC secured the sale of the property and will be working with new owner, James Wright, on the remodeling and leasing of the property, which is located at the corner of Highway 67 and College Street. Wright, a broker with RE/Max in Cleburne, is the developer and owner of Keene Plaza. Upon completion of the redevelopment, Keene Plaza will consist of retail, office and hospitality space ranging from 1,250 square feet to 5,000 square feet.

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