HOUSTON — HFF has brokered the sale of a three-property multifamily portfolio in Houston. The properties include the 192-unit El Mundo Park, located at 8300 El Mundo St.; the 66-unit Plaza del Oro, located at 2700 Holly Hall St.; and the 212-unit San Marin, located at 8181 El Mundo St. Combined, the complexes’ 470 apartments were 96 percent leased at the time of the sale. All three communities are situated within two miles of the Texas Medical Center. Todd Stewart, Todd Marix, Chris Curry and Tre Banks of HFF marketed the portfolio on behalf of the seller, LeCesse Development Corp. Entities owned by JMG Realty Inc. purchased the assets.
Texas
SAN ANTONIO — Marcus & Millichap has brokered the sale of a 655-unit self storage facility in San Antonio. Constructed in 1997, the property is located on a seven-acre parcel at 6110 Walzem Road and operated as Walzem Self Storage. Joon Dankfels and Nicholas Ling of Marcus & Millichap marketed the asset on behalf of the seller, a partnership, and also secured the buyer, a REIT.
FARMERS BRANCH, TEXAS — Cassidy Turley has arranged a 30,000-square-foot industrial lease in the Dallas/Fort Worth suburb for PIRCH Inc., a provider of kitchen, bath, laundry and homeware products. The tenant will occupy distribution center space at 4521 Simonton Road, in proximity to the NorthPark Mall project, which is the future site of a PIRCH showroom. The warehouse facility, situated near the interchange of I-635 and the Dallas North Tollway, features 2,000 square feet of office space and four dock-high doors. Blake Anderson, David Eseke and Tom van Betten of Cassidy Turley represented PIRCH in the negotiations. Peter Yates of Lincoln Property Co. represented the landlord, The Realty Associates Fund.
HOUSTON — NAI Houston has brokered the sale of a 14,000-square-foot industrial building in Houston. The facility is located on a 1.6-acre parcel at 3741 Trailmobile Drive, in proximity to I-610. Chris Caudill of NAI Houston represented the seller, Patrick Walton, in the transaction. Reese Brown of Miramont Interests LC represented the buyer, Phillip Collins.
HOUSTON — HFF has brokered the sale of Oak Park Office Center III, a 151,000-square-foot office building in Houston’s Westchase district. Completed in 2008, the two-story structure is located between Rogerdale Road and Beltway 8, within the 225-acre Oak Park at Westchase business park. Global engineering firm CB&I Inc. holds the lease for the entire property. Robert Williamson and Trent Agnew of HFF marketed the asset on behalf of the seller, Daymark Realty Advisors. 111 Realty OPO LLC, a real estate investment company led by Mallick Group Inc. and Keating Investments, was the buyer. International Bank of Commerce – Houston provided acquisition financing.
McKINNEY, TEXAS — GroundFloor Development and Boston Capital are partnering to build The Millennium, a 164-unit multifamily property in the Dallas/Fort Worth suburb of McKinney. The garden-style complex will include one-, two- and three-bedroom apartments, as well as a fitness center, business center, media room, swimming pool, barbecue area and playground. Thirty-four of the units will be offered at market rents, with the remainder available to families and individuals earning 60 percent or less of the area median income. Dallas-based GroundFloor will develop the project with equity from both Boston Capital and the Low Income Housing Tax Credit (LIHTC) program.
HOUSTON — Lee & Associates has arranged a 16,500-square-foot industrial lease in Houston for Master’s Craft Flooring, a manufacturer and distributor of hardwood flooring products. The tenant will occupy space at 565 Garden Oaks Blvd., in proximity to I-610, Houston’s outer loop. Brett Lewis of Lee & Associates represented Master’s Craft Flooring in the negotiations, while Steven Hazel of InSite Commercial Real Estate represented the landlord, Houston Pine Forest M LLC.
HOUSTON — Finial Group has arranged a 15,000-square-foot industrial lease in Houston for Liquid Metal Coatings, a provider of wear- and corrosion-resistant coatings for the energy, paper and petrochemical industries. The tenant will occupy Building 1 of Louetta Business Park, located on the corner of Louetta Road and Whitewood Drive, in proximity to I-45. The 20-ton crane-ready facility features 24-foot eave heights, grade-level loading doors, a truck court and 1,500 square feet of office space. Keith Bilski, Neil Martin, Mike Sperandio and Jennifer Young of Finial Group handle the leasing of Louetta Business Park.
SAN ANTONIO — CBRE has brokered the sale of The Landings at Brooks City-Base, a 300-unit multifamily complex in San Antonio. Constructed in 2012, the Class A property includes one- and two-bedroom apartments, as well as a swimming pool, fitness center, lounge and gaming area. The community, which is located at 7803 New Braunfels Ave. in the Southeast San Antonio submarket, was 97 percent occupied at the time of the sale. Ryan Epstein, Michael Wardlaw and Charles Cirar of CBRE represented the seller, Pensam Capital LLC, in the transaction. Brooks Apartments Associates Ltd. purchased the asset.
HOUSTON — NAI Houston has brokered the sale of a 58,000-square-foot industrial building in Houston’s Downtown Industrial submarket. Located at 5721 Harvey Wilson Drive, the property features office space, a storage yard, two grade-level doors and clear heights up to 22 feet. John Ferruzzo and Chris Kugle of NAI Houston represented the seller, NIFF LLC, in the transaction. Steven O’Conor and Marc Drumwright of Southwest Realty Advisors represented the buyer, Poroo Baker Investments LLC.