Texas

KDW Begins Construction on Industrial Facility in Metro Austin

by Haisten Willis July 15, 2015

TAYLOR, TEXAS – The Taylor Economic Development Corporation (TEDC) held a groundbreaking ceremony for the construction of its new 50,000 square-foot industrial/manufacturing facility in Mustang Creek Industrial Park on July 9. Houston-based KDW is the designer and contractor of the property. The building will be available for occupancy before the end of 2015. The TEDC has started marketing the space both locally and nationally with the hopes of finding a tenant as soon as possible. TEDC plans to build a total of three buildings of this size and fill them within the next 60 months.

July 15, 2015

M&M Arranges Sale of 142-Unit Apartment Building in Metro Dallas

by Haisten Willis July 15, 2015

IRVING, TEXAS — Marcus & Millichap has arranged the sale of The Terrace on Finley Apartments, a 142-unit apartment property located in Irving. John Barker and Mark Allen of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. Barker and Allen also secured the buyer, a limited liability company. The Terrace on Finley Apartments is located at 2504 Finley Road in Irving, near SH-183 and the President George Bush 161 Toll Road. The property includes eight floor plans, pitched roofs and recently resurfaced parking lots. The two-story brick construction buildings have a slab foundation.

July 15, 2015

Industrial Texas

Ridge Development, Prudential Sell 164-Acre Site to Van Trust Real Estate

by Haisten Willis July 15, 2015

LANCASTER, TEXAS — Ridge Development, the industrial development arm of Transwestern Development Co., has entered a joint venture with Prudential Financial Inc. called Ridge South Dallas I LLC. The joint venture has sold a 164-acre site in the Ridge Logistics Center South Dallas to Van Trust Real Estate LLC. Located at the northeast corner of Dallas Avenue and Telephone Road in Lancaster, the tract was sold for an undisclosed amount. Van Trust Real Estate, which was represented internally in the transaction, plans to develop big-box, speculative bulk industrial buildings on the site. CBRE’s Jack Fraker represented Ridge South Dallas.

July 15, 2015

Industrial Texas

Bellomy & Co. Arranges Sale of Self-Storage Facility in Metro Dallas

by Haisten Willis July 15, 2015

ARLINGTON, TEXAS — Bellomy & Co. has arranged the sale of Mansfield Webb Road Self Storage in Arlington. The property consists of 161 climate-controlled, non-climate-controlled and parking units in 21,760 net rentable square feet. The facility occupies three acres with room for expansion and was 70 percent occupied at closing. Bill Bellomy, Michael Johnson, John Owens and John Arnold of Bellomy & Co. marketed the property on behalf of the Omaha, Neb.-based seller. Bellomy & Co. is headquartered in Austin and has offices in Houston, Lubbock and Atlanta.

July 15, 2015

Retail Texas

Planet Fitness Opens New Location in Metro Dallas

by Haisten Willis July 15, 2015

HALTOM CITY, TEXAS — Planet Fitness has leased 19,488 square feet of space in Haltom Commons Shopping Center, located at 3316 Denton Highway, for a new location. Greg McDonald, CCIM, of The Weitzman Group handled negotiations for the landlord. Ryan Jordan and Tyler Grisham of Edge Realty Partners represented the tenant. Kroger anchors Haltom Commons.

July 15, 2015

Industrial Texas

Central Wire Purchases Industrial Building in Houston

by Haisten Willis July 14, 2015

HOUSTON — Central Wire Inc. has purchased a 30,000-square-foot, crane-ready industrial building on nine acres located at Kieth Harrow Boulevard and Barker Cypress in Houston. The property is known as Bear Creek Industrial Park. The general contractor, Finial Development & Construction, is building the development on spec. Keith Bilski, Neil Martin and Mike Sperandio, with Finial’s in-house brokerage company, represented the seller, FDC Bear Creek LP, in the transaction. Janae Evans and Joe Evans of Evtex Cos. represented the buyer. Central Wire is a producer of specialty wire products.

July 14, 2015

Multifamily Texas

M&M Arranges Sale of Two Apartment Buildings in Fort Worth

by Haisten Willis July 14, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of two apartment communities in Fort Worth: The Ridge, a 208-unit apartment complex, and Shadowood Apartments, a 52-unit apartment property. Al Silva of Marcus & Millichap’s Fort Worth office marketed both properties on behalf of the Texas-based sellers and secured both buyers. The Ridge is located at 8925 Randol Mill Road, 10 miles east of downtown Fort Worth and north of I-30. The property was built in 1985 and consists of 14 buildings. The new owner plans to make substantial renovations to the property. Shadowood Apartments is located at 6701 Calmont Ave. The property is located near I-30 and is five miles west of downtown Fort Worth. The property was built in 1964 and consists of one large building that comprises a brick veneer exterior with a new mansard roof and wood frame on a concrete slab foundation. The Texas-based buyer plans to make substantial improvements to the complex.

July 14, 2015

Multifamily Texas

Lloyd Jones Capital Purchases Apartment Complex in Fort Worth

by Haisten Willis July 14, 2015

FORT WORTH, TEXAS — Lloyd Jones Capital, a multifamily investment firm, has purchased the Carol Oaks Apartments in Fort Worth. The firm plans to upgrade and rebrand the 224-unit community located at 7412 Ederville Road. The property is located one mile from I-30 and I-820. Finlay Management will provide management services.

July 14, 2015

Loans Multifamily Texas

NXT Capital Provides $22.3M Loan for Acquisition of Apartment Properties in Dallas

by Haisten Willis July 14, 2015

DALLAS — NXT Capital has provided a $22.3 million first mortgage loan to finance the acquisition of two multifamily properties located in Dallas. The two properties total 394 units. Both properties provide access to I-635, eastern Dallas and Uptown Dallas. One of the properties offers two swimming pools and a fitness center, and the other property offers a swimming pool and a clubhouse. Andy Scott of HFF’s Dallas office placed the loan. NXT Capital’s real estate finance group primarily serves experienced real estate investors with non-recourse first mortgages of $10 million to $40 million for major-market properties.

July 14, 2015

Multifamily Texas

ARA Newmark Arranges Sale of Apartment Complex in San Antonio

by Haisten Willis July 14, 2015

SAN ANTONIO — ARA Newmark has arranged the sale of Ventana, a 390-unit, Class A asset located in northwest San Antonio. Occupancy at the time of the sale was 95 percent. Patton Jones and Matt Michelson of ARA Newmark represented the seller, California-based Francis Property Management, in the transaction. A real estate investment and management company, Francis Property Management maintains an existing portfolio of Class A apartment communities located throughout Texas and California. The buyer, Venterra Realty Management, purchased the property for an undisclosed price. Constructed in 1994, Ventana is a Class A, garden-style community located in the Northwest Medical Center submarket of San Antonio. Apartment units at Ventana average 975 square feet and feature nine-foot ceilings with crown molding, brushed nickel lighting and plumbing fixtures. There are 14 floor plans ranging from 671-square-foot, one-bedroom homes to 1,403-square-foot, three-bedroom homes, with some units including direct access garages. Property amenities at Ventana include two swimming pools, poolside wireless internet, attached garages, a business center and fitness center.

July 14, 2015

Newer Posts

Older Posts