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Treehouse-Apartments-Austin
AcquisitionsMultifamilyTexas

Newmark Brokers Sale of Multifamily Portfolio Totaling 673 Units in Texas

by Taylor Williams

AUSTIN, KATY AND STAFFORD, TEXAS — Newmark has brokered the sale of a portfolio of three multifamily properties totaling 673 units in the Austin and Houston metro areas. The portfolio consists of Treehouse, a 297-unit community that sits on a 12.4-acre site in Austin’s East Riverside area; the 208-unit Stonecreek in the western Houston suburb of Katy; and Waterstone Place, a 168-unit apartment complex located on the southwestern outskirts of Houston. All three properties offer value-add potential. Zach Springer, Jim Young and Carter Mizell of Newmark represented the seller, Houston-based investment firm Nitya Capital, in the transaction. The buyer was Houston-based Disrupt Equity.

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AcquisitionsMultifamilyTexas

Trion Properties Acquires 471-Unit Riverbend Apartments in Lancaster, Texas

by Taylor Williams

LANCASTER, TEXAS — Trion Properties, a private equity real estate firm with offices in Miami and Los Angeles, has acquired Riverbend Apartments, a 471-unit multifamily complex located in the southern Dallas suburb of Lancaster. Riverbend Apartments features 181 one-bedroom units and 290 two-bedroom units and amenities such as three pools and multiple play areas for children. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.

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AcquisitionsIndustrialSelf-StorageTexas

Versal Arranges Sale of 257-Unit Self-Storage Facility in Temple, Texas

by Taylor Williams

TEMPLE, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a 257-unit facility in Temple, about 70 miles north of Austin. The facility spans 81,840 net rentable square feet and is located at the intersection of State Highway 36 and Moffat Road. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the buyer and seller, both of which requested anonymity, in the transaction. The sales price was also not disclosed.

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Leasing ActivityOfficeTexas

Taylor Morrison Signs 29,000 SF Office Lease in Houston’s Westchase District

by Taylor Williams

HOUSTON — National homebuilder Taylor Morrison has signed a 29,000-square-foot office lease at Reserve at Westchase, a 194,919-square-foot building in Houston’s Westchase District. Jack Scharnberg and John Heard of Transwestern represented the undisclosed landlord in the lease negotiations. Jon Lee and Claire Douthit of CBRE represented the tenant, which is relocating from a nearby building at 2929 Briarpark Drive. Reserve at Westchase is currently undergoing a capital improvement program to upgrade the lobby and other common areas.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 19,791 SF Industrial Lease in Northwest Dallas

by Taylor Williams

DALLAS — Lee & Associates has negotiated a 19,791-square-foot industrial lease in northwest Dallas. According to LoopNet Inc., the property at 5145 Norwood Road was built in 1981, totals 43,040 square feet and features 22-foot clear heights, three drive-in bays and 156-foot truck court depths. Ally Tanghongs of Lee & Associates represented the Tenant, Xpress Foods, in the lease negotiations. Stephen Williamson and Matthew Johnson, also with Lee & Associates, represented the landlord, Stonelake Capital Partners.

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DevelopmentIndustrialLeasing ActivityTexas

Daikin Comfort Technologies Leases 500,840 SF of Industrial Space in Northwest Houston

by Taylor Williams

HOUSTON — HVAC systems provider Daikin Comfort Technologies has leased 500,840 square feet of industrial space at The Great 290 Distribution Center, a newly built facility located near the intersection of The Grand Parkway and I-290 in northwest Houston. Designed by Powers Brown Architecture, The Great 290 Distribution Center occupies 41 acres within a 64-acre site, allowing tenants additional space for outdoor trailer parking or materials storage. Nathan Wynne and Jason Dillee of CBRE represented the landlord, locally based developer Pagewood, in the lease negotiations. Seth Koschak, Tyler Maner and Heath Donica of Stream Realty Partners represented the tenant, which will occupy the entirety of the building.

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The-Audrey-Mansfield
AcquisitionsMultifamilyTexas

IPA Brokers Sale of 211-Unit Apartment Complex in Mansfield, Texas

by Taylor Williams

MANSFIELD, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Audrey, a 211-unit apartment complex in Mansfield, a southern suburb of Fort Worth. Built in 2021, the property offers one- and two-bedroom units with an average size of 923 square feet. Amenities include a pool, fitness center, business center, clubhouse and outdoor grilling and dining stations. Joey Tumminello, Taylor Hill, Michael Ware, Jeff Kindorf and Will Balthrope of IPA represented the seller, a partnership between Carleton Cos. and M.R. Development, in the transaction. The team also procured the buyer, a partnership between RPM and a fund managed by Roseview Investment Advisors.

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DevelopmentLeasing ActivityRetailTexas

Levcor Completes Renovations at Post Oak Plaza in Houston, Adds Three New Retailers

by Taylor Williams

HOUSTON — Locally based developer Levcor has completed renovations at Post Oak Plaza, a retail power center in Houston’s Uptown neighborhood. Capital improvements included updates to building and store facades, new lighting, upgraded landscaping and widened pathways. Additionally, three new tenants have signed leases at the center: scratch kitchen Local Foods (3,016 square feet), mattress retailer Saatva (4,000 square feet) and furniture provider Arhaus (22,201 square feet). Renovations were first announced in mid-2021.

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IndustrialLeasing ActivityLee & AssociatesTexas

Florida Tile Signs 14,903 SF Industrial Lease in Northwest Dallas

by Taylor Williams

DALLAS — Florida Tile has signed a 14,903-square-foot industrial lease in northwest Dallas. According to LoopNet Inc., the property at 9755 Clifford Drive was built on 8.2 acres in 2001 and totals 114,320 square feet. Adam Graham and Stephen Williamson of Lee & Associates represented the landlord, Prologis, in the lease negotiations. The tenant representative was not disclosed.

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Leasing ActivityOfficeTexas

Oxford Partners Negotiates 8,263 SF Office Lease in Houston’s Greenway Area

by Taylor Williams

HOUSTON — Locally based brokerage firm Oxford Partners has negotiated an 8,263-square-foot office lease in Houston’s Greenway/Upper Kirby area. According to LoopNet Inc., the seven-story building at 2990 Richmond Ave. was constructed in 1967, renovated in 1995 and totals 83,617 square feet. Perry Mazzone & Ryan Hartsell of Oxford Partners  represented the tenant, In-Home Attendant Services, in the lease negotiations. Priscilla Alexander of Hansen Partners represented the landlord.

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