Texas

RailField, Artemis Acquire 201-Unit Multifamily Property in Houston

by Taylor Williams December 4, 2023

HOUSTON — A partnership between Maryland-based investment firm RailField and Washington, D.C.-based Artemis Real Estate Partners has acquired Dolce Midtown, a 201-unit multifamily property located at 180 W. Gray St. in Houston. The property comprises two five-story buildings that were constructed in 2020. Dolce Midtown offers one- and two-bedroom units that are furnished with stainless steel appliances, built-in desks, individual washers and dryers and private balconies/patios. Amenities include a pool, fitness center, clubhouse, game room, business center and outdoor grilling and dining stations. The seller and sales price were not disclosed.

December 4, 2023

Acquisitions Multifamily Texas

35 South Capital Buys 84-Unit Village Place Apartments in Houston

by Taylor Williams December 4, 2023

HOUSTON — Locally based investment firm 35 South Capital has purchased Village Place Apartments, an 84-unit multifamily complex in Houston’s Hedwig Village neighborhood. The complex consists of 13 buildings on a 3.5-acre site. According to Apartments.com, units come in one- and two-bedroom floor plans, and amenities include a pool, fitness center, business center, clubhouse, outdoor grilling and dining stations and onsite laundry facilities. Newmark brokered the sale of the property. The seller and sales price were not disclosed.

December 4, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 21,136 SF Industrial Lease in Northwest Dallas

by Taylor Williams December 4, 2023

DALLAS — Lee & Associates has negotiated a 21,136-square-foot industrial lease in northwest Dallas. According to LoopNet Inc., the building at 2616 Willowbrook Road was built in 1994 and totals 49,636 square feet. Stephen Williamson of Lee & Associates represented the tenant, Greenpath Mail Operations, in the lease negotiations. Nathan Denton, also with Lee & Associates, along with Brett Owens and Jack Brewer of Transwestern, represented the landlord, an entity doing business as Warehouse Development Ltd.

December 4, 2023

Development Mixed-Use Texas

Presidium to Undertake 28-Acre Mixed-Use Redevelopment Project in McKinney, Texas

by Taylor Williams December 1, 2023

MCKINNEY, TEXAS — Texas-based developer Presidium will undertake a redevelopment project in McKinney, a northern suburb of Dallas, that will convert the 28-acre site of a former cotton mill and textile manufacturing facility that was built in 1910 into a mixed-unit development. Plans for Presidium Cotton Mill include approximately 1,200 multifamily units that will be housed across four buildings ranging in height from five to seven stories. The project will also feature 200,000 square feet of office space, as well as retail and restaurant space, open green space and a boutique hotel. Residential amenities will include pools, outdoor grilling and dining stations, fitness centers, coworking spaces, game rooms and lounge areas. The development team is aiming to break ground in mid-2024 and expects the entire project to take about six years to fully complete.

December 1, 2023

Development Industrial Self-Storage Texas

NitNeil, Seamless Capital to Develop 923-Unit Self-Storage Facility in East Austin

by Taylor Williams December 1, 2023

AUSTIN, TEXAS — A partnership between Atlanta-based developer NitNeil Partners and locally based investment firm Seamless Capital will develop a 923-unit self-storage facility in East Austin. The existing structure on the 1.5-acre site at 853 Airport Blvd. will be redeveloped into a facility that spans 112,000 gross square feet and 83,000 net rentable square feet of climate-controlled space. LifeStorage will operate the property. Completion is slated for late 2024.

December 1, 2023

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Negotiates Sale of 50,566 SF Industrial Building in Grand Prairie, Texas

by Taylor Williams December 1, 2023

GRAND PRAIRIE, TEXAS — Lee & Associates has negotiated the sale of a 50,566-square-foot industrial building in Grand Prairie, located roughly midway between Dallas and Fort Worth. According to LoopNet Inc., the single-tenant building at 1922-1938 N. Great Southwest Parkway was built on 2.1 acres in 1981 and features 18-foot clear heights and 16 exterior dock doors. Colton Rhodes of Lee & Associates represented the buyer, Texas-based investment firm Stonelake Capital Partners, in the transaction. The seller and sales price were not disclosed.

December 1, 2023

Acquisitions Hospitality Multifamily Texas

Matthews Arranges Sale of 48-Site Mobile Home Park in Lewisville, Texas

by Taylor Williams December 1, 2023

LEWISVILLE, TEXAS — California-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of a 48-site mobile home park in the northern Dallas suburb of Lewisville. Lewisville Mobile Home Park spans 217,800 square feet and consists of 31 mobile home lots, 17 RV lots and one single-family residence. Arthur Varela, Kevin Puder, and Chad Kurz of Matthews represented the buyer, which acquired the property via a 1031 exchange, in the off-market transaction. The property was fully occupied at the time of sale.

December 1, 2023

Leasing Activity Office Texas

The Malin to Open 12,123 SF Coworking Space in East Austin

by Taylor Williams December 1, 2023

AUSTIN, TEXAS — The Malin, a members-only coworking concept, will open a 12,123-square-foot space at 1515 E. Cesar Chavez St. in East Austin. The space, which is scheduled to open next summer, will feature 28 dedicated desks, 10 private offices and four meeting rooms. Brent Powdrill, Bethany Perez and Kevin Kimbrough of JLL represented the undisclosed landlord in the lease negotiations. Casey Casper and Kendall King of HPI Real Estate Services & Investments represented the tenant.

December 1, 2023

Acquisitions Florida Industrial Office Southeast Texas Top Stories

Basis Purchases Four Industrial/Office Parks in Florida, Texas for $160M

by Jeff Shaw December 1, 2023

BOCA RATON, FLA. — Basis Industrial, a privately held real estate owner and operator headquartered in Boca Raton, has acquired four commercial properties in Florida and Texas for a total of approximately $160 million. Bank United, Banesco and Thorofare provided roughly $110 million in financing for the transaction. Beach Point Capital Management provided a preferred equity/mezzanine loan of roughly $70 million, with the borrowers, Basis and NexPoint, providing the remaining funds. In addition to the acquisitions, the loans and equity will fund a $60 million refinancing for two of the borrowers’ existing commercial properties in Florida. The six properties, including those being refinanced, total over 1.3 million square feet. The four acquired properties include: The properties that Basis refinanced were Crystal Pointe and Gateway & Commercial Point. Crystal Pointe is a 96,888-square-foot property located at 4500-4870 North Powerline Road in Deerfield Beach, Florida. Crystal Pointe is currently 100 percent leased. Gateway & Commercial Point is a 253,701-square-foot asset located at 7550-7800 Southland Blvd. in Orlando. The property is currently 97.6 percent leased. “This is a huge step for Basis’ growth and my vision,” says Daniel Weinstein, founder and CEO of Basis Industrial. “We expect to add millions of square feet over the next few years in targeted …

December 1, 2023

Development Office Texas

Harwood International to Develop 23-Story Office Building in Uptown Dallas

by Taylor Williams November 30, 2023

DALLAS — Harwood International will develop Harwood No. 15, a 23-story, 340,000-square-foot office building that will be situated within the locally based developer’s 19-block namesake district in Uptown Dallas. Harwood No. 15 will feature spa-like amenities, including saunas, steam rooms and a cold plunge, as well as a conference center, fitness center and a 20,000-square-foot rooftop park. The design team includes Kengo Kuma & Associates and Corgan. Construction is set to begin in mid-2024 and to be complete in late 2026. Harwood most recently completed the 27-story Harwood No. 14, which is now 76 percent leased. The entire Harwood District currently has an occupancy rate of about 93 percent.

November 30, 2023

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