ARLINGTON, TEXAS — Stonemark Equities and equity partner 29th Street Capital have acquired Southern Hills Apartment Homes, a 250-unit multifamily complex in Arlington. The property, located at 2624 South Hills Boulevard, offers one-, two- and three-bedroom layouts. Stonemark will rebrand the property as The Mark at 2600 and invest $1.3 million in renovations, including improvements to the clubhouse, fitness center, pool, playground and interior appliances. The seller was a group of individual owners/investors.
Texas
HOUSTON — Boxer Property has arranged an office lease at the Centre One building in Houston for GetixHealth, a business services provider for the healthcare industry. The new tenant will occupy 21,738 square feet of the building, which totals 11 stories and 225,113 square feet. Features of the property include an on-site deli, multi-level parking garage, security patrol and surveillance cameras. Trey Miller of Boxer negotiated the lease on behalf of the property owner.
FORT WORTH, TEXAS — Full-service real estate firm Lockard and partner Moriah Real Estate Co. held the grand opening for The Shoppes at Renaissance Square, a $75 million retail center in southeast Fort Worth. Located along East Berry Street between Mitchell and Vaughn boulevards, the 400,000-square-foot development is anchored by Walmart and houses other tenants such as 7-11, McDonald’s, Jack in the Box, Marshalls and Shoe Carnival. Lockard maintains leasing duties for the property.
THE WOODLANDS, TEXAS — Whole Foods Market plans to break ground this month on a new 40,000-square-foot location at Hughes Landing, a development of The Howard Hughes Corporation and its subsidiary, The Woodlands Development Company. Expected to open in 2015, the store will be located off Lake Front Circle near the Lake Woodlands Drive intersection and will feature adjacent surface parking. The larger Hughes Landing development includes office, hotel and multifamily uses in addition to retail. Tim Hughes of The Falcon Companies represented Whole Foods in the deal, while Howard Hughes was internally represented by Mike Zoob and Rip Reynolds.
SAN ANTONIO — Presidium Group has acquired Hunter’s Ridge Apartments, an 81-unit multifamily property in northern San Antonio. The complex, which Presidium will rebrand as Elm Creek Apartments, is located at 2358 N.W. Military Highway. The new ownership has launched a $1.1 million capital improvements program, including enhancements to both interiors and exteriors and the addition of a fitness center. The property also offers proximity to the South Texas Medical Center, San Antonio International Airport and Hardberger Park.
CARROLLTON, TEXAS — Lee & Associates has arranged the lease of a 75,000-square-foot industrial building in Carrollton, a northern suburb of the Dallas/Fort Worth Metroplex. Polyair Corporation, a manufacturer of protective packaging, will occupy the warehouse facility. Ken Wesson, Adam Graham and Scott Alexander of Lee & Associates represented the landlord, Cobalt Capital Partners. Mark Becker and Dan Cook of Cushman & Wakefield represented the tenant.
Transportation and third-party logistics companies are flocking to fill San Antonio’s industrial space. For example, Tennessee-based logistics company Forward Air recently announced the lease of an 89,600-square-foot Air Cargo Terminal at Port San Antonio. But Forward Air is just the latest among those moving in. Listed among the larger leases inked in the second quarter were companies such as JB Hunt (26,227 SF) and HDR Trucking (11,827 SF) at Woodlake Distribution Center I, CFI Delivery (23,400 SF) at City Park East Distribution Center B, Towne Services Moving Co. (21,964 SF) at Interstate Business Park 3 and the recent renewal and expansion of Hazen Transport (20,000 SF) at Rittiman Industrial Park — all of which are situated in the Northeast sector. The growing oil production in the nearby Eagle Ford shale is the major driving force behind the increased transportation-related activity. The oil industry depends on trucks to haul machinery, equipment, piping and sand to the oil fields, and San Antonio serves as a hub for those services. In addition, growing demand for rail-based logistics has prompted the development of two new rail parks in Southeast Bexar County – Alamo Junction Rail Park and Mission Rail Park. Railroads in and near …
SAN ANTONIO — HFF has arranged $54.2 million in construction financing for the redevelopment of the historic Joske’s Building at RiverCenter Mall, a retail complex along San Antonio’s River Walk. The property, constructed in 1887 as the original location of Joske’s Department Store, is located at the corner of Alamo and Commerce streets, overlooking the historic Alamo Plaza in San Antonio’s central business district. Joske’s occupied the space for 100 years, after which Dillard’s occupied the space until 2008. The redevelopment will house retail, restaurant and entertainment tenants. TreyMorsbach, John Pelusi and Cullen Aderhold led the HFF team that represented the borrower, Ashkenazy Acquisitions Corp.
DALLAS AND MIDLAND, TEXAS — Strategic Storage Trust Inc. (SSTI) has acquired five self storage properties in the Dallas/Fort Worth Metroplex and Midland for approximately $27 million. The properties, which total about 390,000 square feet and 2,800 units, are located at 810 S. Denton Tap Road in Coppell, 1925 S. Bowie Drive in Weatherford, 1712 W. Randol Mill Road in Arlington, 5005 Andrews Highway in Midland and 1904 W. Loop 250 N. in Midland. These, along with four additional properties acquired by SSTI in Alabama and Tennesee, will be rebranded under the SmartStop Self Storage name.
SAN ANTONIO — Steel Castle Capital LLC has purchased Sevona Westover Hills, a 296-unit multifamily complex in San Antonio. Located near the intersection of Highway 151 and Loop 1604 and in close proximity to Christus Santa Rose Westover Medical Center, the property includes a fitness center, swimming pool and 5,000-square-foot clubhouse. The apartments feature private balconies, 9-foot ceilings, crown molding, walk-in closets and ceiling fans. Steel Castle Capital is based in Anaheim, Calif. and Philadelphia.