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Twinwood-Distribution-Center-Brookshire
DevelopmentIndustrialTexas

Clay Development Completes 767,520 SF Industrial Project in Brookshire, Texas

by Taylor Williams

BROOKSHIRE, TEXAS ­— Houston-based Clay Development has completed Twinwood Distribution Center III, a 767,520-square-foot industrial project in the western Houston suburb of Brookshire. The cross-dock facility sits on 37.1 acres within the 200-acre Uplands Twinwood Business Park. Building features include 40-foot clear heights, 180 dock-high doors, four drive-in ramps, 130-foot truck court depths, 2,600 square feet of office space, an ESFR sprinkler system and parking for 264 cars. The site can also support the addition of parking space for up to 55 trailers. Cushman & Wakefield has been appointed as the property’s third-party leasing agency.

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Boardwalk-Square-Katy
DevelopmentMultifamilyTexas

Sueba USA Breaks Ground on 353-Unit Multifamily Project in Katy, Texas

by Taylor Williams

KATY, TEXAS — Locally based developer Sueba USA has broken ground on Boardwalk Square, a 353-unit multifamily project that will be located west of Houston in Katy. Units will come in studio, one-, two- and three-bedroom formats and range in size from 496 to 2,088 square feet. Residences will be furnished with stainless steel appliances, granite countertops, custom cabinetry and individual washers and dryers. Amenities will include a pool, fitness center, spa, outdoor lounge, coworking lounge, package lockers and a catering kitchen. Boardwalk Square represents the second phase of a larger Sueba development, the first phase of which totals 319 units and was completed in late 2021 and subsequently sold in spring 2022. The first units are expected to be available for occupancy in fall 2025.

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LoansMultifamilyTexas

Colliers Mortgage Provides Agency Acquisition Loan for 134-Unit Multifamily Property in Irving

by Taylor Williams

IRVING, TEXAS — Colliers Mortgage has provided a Fannie Mae acquisition loan of an undisclosed amount for Landen Apartment Homes, a 134-unit multifamily property in Irving. The garden-style property consists of four two-story buildings that house studio, one-, two- and three-bedroom units. Amenities include a pool, playground and outdoor kitchen and grilling stations. Fritz Waldvogel of Colliers Mortgage originated the loan, which carries a five-year term, through a partnership with Old Capital Lending. The borrower was an entity doing business as NH Investments LAH LLC.

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Leasing ActivityOfficeTexas

Tokyo Electron Signs 98,761 SF Office Lease in Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — Tokyo Electron has signed a 98,761-square-foot office lease at RiverSouth, a 15-story, 372,000-square-foot office building in downtown Austin. The provider of semiconductors and display production equipment is relocating and will join existing tenants such as Baker Botts, Alert Media and Under Armour. Brad Philp and Conor Greissing of Stream Realty Partners represented the landlord in the lease negotiations on an internal basis. Kendall King and Stan Erwin of HPI Real Estate Services & Investments represented Tokyo Electron. 

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AcquisitionsMultifamilyTexas

Marcus & Millichap Brokers Sale of 60-Unit Rosslyn Heights Apartments in Northwest Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of Rosslyn Heights Apartments, a 60-unit multifamily complex in northwest Houston. According to Apartments.com, the property was built in 1985 and offers two-bedroom units and a playground. Kyle Devillier, Gregory Austin, Travis Austin and Jackson Hart of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

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AI Jeff Salladin Predictive Analytics
AcquisitionsContent PartnerFeaturesLoansMidwestNortheastSoutheastTexasWestern

Finance Companies Look to Artificial Intelligence Applications in Predictive Analytics, Due Diligence, Modeling

by Sarah Daniels

The emergence of generative artificial intelligence (AI) promises to greatly expand the property industry’s reach and abilities. Generative AI can offer suggestions, compile reports and create various types of content, ranging from video to software code. In the commercial real estate world, generative AI has the potential to harness myriad information to help owners, managers, lenders and investors assess portfolio performance, uncover operating risks and identify opportunities, among other activities, says Jeff Salladin, a managing director with Dallas-based private debt fund Revere Capital. But companies need to begin preparing for it now, he adds. “Commercial real estate can be slow to change — it wasn’t that long ago that mortgage brokers were sending us deals via overnight mail,” observes Salladin. “But whether they’re analysts or leadership teams, someone in your shop should be dipping their toe in the water and testing out AI.” Salladin also points out the need to proceed cautiously with this new technology as it evolves. Humans with expertise need to review what AI generates for the commercial real estate field. AI can narrow the focus of many tasks but cannot substitute for human reviewers or the human ability to critically apply information gleaned. AI Benefits Salladin …

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BLVD-at-Medical-Center-San-Antonio
AcquisitionsMultifamilyTexas

Hamilton Zanze Sells 248-Unit Apartment Community in San Antonio

by Taylor Williams

SAN ANTONIO — San Francisco-based investment firm Hamilton Zanze has sold BLVD at Medical Center, a 248-unit apartment community in San Antonio. Built in 2016 and located roughly 15 miles northwest of the downtown area, BLVD at Medical Center offers one-, two- and three-bedroom units with an average size of 776 square feet. Residences are furnished with stainless steel appliances, walk-in closets, granite countertops and full-size washers and dryers. Amenities include a pool, fitness center, outdoor kitchen, playground and a business center. The buyer and sales price were not disclosed. Hamilton Zanze acquired the property soon after completion and implemented various value-add measures during its course of ownership.

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AcquisitionsIndustrialOfficeTexas

Davis Commercial Arranges Sale of 153,000 SF Office, Industrial Complex in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Davis Commercial has arranged the sale of a 153,000-square-foot office and industrial complex in northwest Houston. The property comprises an 111,000-square-foot office building and a 43,000-square-foot warehouse on a 12.6-acre site at 7000 Hollister St. According to LoopNet Inc., the three-story complex was originally built in 1985. Cotton Munson of Davis Commercial represented the seller, FJS Investments LP, in the transaction. Charlie Le of Realm Real Estate represented the buyer, an entity doing business as Yinlun TDI LLC.

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Leasing ActivityOfficeTexas

Regional Employee Assistance Program Signs 39,975 SF Office Lease Renewal in Corsicana, Texas

by Taylor Williams

CORSICANA, TEXAS — Regional Employee Assistance Program has signed a 10-year, 39,975-square-foot office lease renewal in Corsicana, about 60 miles south of Houston. The space is located at 400 Hospital Drive within the Navarro Regional Medical Complex. Allison Johnston Frizzo and Tanya Hart Little of Hart Commercial represented the landlord, Healthcare Realty Services LLC, in the lease negotiations. Deidre Hardister of NAI Geis Realty Group represented the tenant.

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Leasing ActivityOfficeTexas

Avison Young Negotiates 28,791 SF Office Headquarters Lease in West Houston

by Taylor Williams

HOUSTON — Avison Young has negotiated a 28,791-square-foot office headquarters lease in West Houston. The tenant, civil engineering firm R.G. Miller | DCCM, is relocating from 16340 Park Ten Place to Eldridge Oaks, a 14-story, 349,190-square-foot building that was originally constructed in 2009. Anthony Squillante and Drew Coupe of Avison Young represented the tenant in the lease negotiations. Brad Fricks and Matt Asvestas of Stream Realty Partners represented the landlord, an affiliate of Broadshore Capital Partners. The relocation will take place during the third quarter.

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