Texas

TAYLOR, TEXAS — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single-tenant new construction Advance Auto Parts property located at 3508 N. Main Street in Taylor, for $1.98 million. The brand-new Advance Auto Parts building is located across the street from a Walmart Supercenter-anchored development. The property is positioned along the area’s primary north-south thoroughfare. Retailers located in the immediate vicinity to the property include HEB, Walgreens, CVS and Chase Bank. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a southeast-based commercial real estate developer, in the transaction. The buyer was a private individual based in the southwest who utilized a 1031 exchange. Advance Auto Parts has 15 years remaining on their absolute net lease. The lease features 5 percent rental escalations in each renewal option period. Advance Auto Parts is an investment grade rated tenant with a Standard & Poor’s rating of BBB-.

HOUSTON — Berkadia has negotiated the sale of Crystal Falls, located at 10950 Westbrae Parkway in Houston. Chip Nash, Gregory Austin, Wade Schmitz and Bob Heard of Berkadia’s Houston office negotiated the transaction. The property was 96 percent occupied at the time of the sale. Built in 1984, the 165-unit property features studio, one- and two-bedroom floor plans. Each unit features fully equipped kitchens and a balcony or patio. Select units have washer and dryer connections, fireplaces and vaulted ceilings. Community amenities include a swimming pool, jacuzzi, fitness center and controlled-access gate. The community is located near Braeswood Boulevard, State Route 59 and Beltway 8. Crystal Falls is two miles from BraeBurn Country Club and 3.5 miles from Houston Baptist University. Emerge Crystal Falls LLC of Ladera, Calif. was the seller. Bear Valley Delaware Crystal Falls LLC of Sausalito, Calif. was the buyer. The buyer plans to upgrade the unit interiors.

AUSTIN, TEXAS — Berkadia has arranged the sale of Lantana Trace, an apartment complex located at 1830 Rundberg Lane W. and 9315 Northgate Blvd. in Austin. Forrest Bass of Berkadia’s Austin office negotiated the transaction. The property was 97 percent occupied at the time of the sale. Built in 1972, the 112-unit property features studio, one- and two-bedroom floor plans. Each unit features kitchens with tile backsplashes and double sinks, tiled showers, walk-in closets, wood-grain vinyl flooring, ceramic tile, ceiling fans and mini-blinds. Community amenities include two swimming pools, two laundry facilities, barbecue and picnic areas, courtyards with landscaping and perimeter fencing. The seller originally purchased the asset as two separate, 56-unit properties in 2012 and 2013. Since those acquisitions, the operator combined the communities to run as one property. The new owner plans minor interior and exterior renovations.