HOUSTON — Marcus & Millichap has brokered the sale of Space City Self Storage, a 400-unit facility located about 10 miles south of downtown Houston. The facility consists of nine buildings that house 225 non-climate-controlled units and 175 climate-controlled units for a total of 57,545 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Houston-based limited liability company, in the deal. The duo also procured the buyer, an Arizona-based REIT. Both parties requested anonymity.
GRAND PRAIRIE, TEXAS — Texas-based developer Ironwood Realty Partners is underway on construction of 360 Crossing @ Red Hawk, a 214,801-square-foot industrial project in the central metroplex city of Grand Prairie. The rear-load, freestanding building will be situated on 12.5 acres and feature 36-foot clear heights, 10 dock-high loading doors, parking for 178 cars and 49 trailers and an ESFR sprinkler system. Delivery is slated for the fourth quarter.
THE WOODLANDS, TEXAS — JLL has negotiated the sale of two office buildings totaling 153,294 square feet in The Woodlands, about 30 miles north of Houston. The buildings sit on a combined 9.8 acres at 10200 Grogans Mill Road and 1610 Woodstead Court and had a collective occupancy rate of about 67 percent at the time of sale. Rick Goings, Marty Hogan and Kevin McConn of JLL represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
FARMERS BRANCH, TEXAS — Executive Refreshments, which provides pantry and vending machine stocking and services, has signed a 19,000-square-foot industrial lease at 13703-13707 Gamma Road in the northern Dallas metro of Farmers Branch. Jeff McVaney of Partners Real Estate represented the tenant in the lease negotiations. Chad Albert and D.J. Draper of Stoic Real Estate Partners represented the undisclosed landlord.
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Part 2: How to Promote Collaboration, Efficiency in Life Sciences Innovation Districts Via Design
In the biotech and pharmaceutical sectors, life sciences innovation districts have become hubs not only for research and development but also for cooperation and inspiration between cohorts. These districts, often called innovation districts, collect together companies, research institutions, supporting entities, housing and more. Innovation districts necessitate meticulous planning and design strategies to promote scientific inquiry and efficiency. “Municipalities, schools, corporations and organizations that have close ties to their state are piloting life sciences innovation district development, allowing them to group otherwise separated uses — work, recreation, living areas and more — together. When you pair these institutions and include innovative site and building programming in a single location, you move beyond disconnected projects and amenities to a united innovation district that can magnify benefits across organizations,” explains Dan Danvers, a landscape architect project manager with Bohler, a land development consulting and site design company. This article is the design-focused component of our two-part series on life sciences innovation districts. If you would like to read about the planning component of these complex developments, please read our first article here. Moving Life Sciences Innovation Districts Forward Innovation districts must keep pace with evolving technologies and research. Life sciences industries are continually progressing, …
SAN ANTONIO — Dallas-based GenCap Partners has broken ground on a 372-unit multifamily project on a 16-acre site in the Westover Hills area of San Antonio. The garden-style community will offer studio, one-, two- and three-bedroom units and amenities such as a pool, fitness center, conference rooms, coffee bar, outdoor grilling and dining areas and two dog parks. GenCap Partners is developing the property in partnership with International Development. Dwell Design Studio is the project architect, and Rampart Multifamily is the general contractor. Completion is slated for early 2025.
SUGAR LAND, TEXAS — St. Louis-based general contractor McCarthy Building Cos. has completed a healthcare project in the southwestern Houston suburb of Sugar Land on behalf of the Houston Methodist healthcare system. The project comprises a six-story, 160,000-square-foot medical office building and a seven-story, 1,100-space parking garage. Page designed the project, and Jacobs served as the structural and civil engineer. Construction began in December 2021. Houston Methodist operates eight hospitals and employs roughly 30,000 people throughout the city.
FORT WORTH, TEXAS — Global Real Estate Advisors (GREA) has negotiated the sale of Southgate Manor, a 158-unit multifamily property in Fort Worth. According to Apartments.com, the property was built in 1963 and features studio, one-, two- and three-bedroom units that range in from 425 to 1,065 square feet. Mark Allen of GREA represented the undisclosed, Texas-based seller in the transaction. The buyer and sales price were also not disclosed.
CARROLLTON, TEXAS — Building supplies distributor Stone Resources has signed a 91,000-square-foot, full-building industrial lease renewal in the northern Dallas metro of Carrollton. According to commercialcafé.com, the property at 2425 Carter Drive was built on 4.9 acres in 1986. Andrew Gilbert and Keaton Brice with Holt Lunsford Commercial represented the landlord, Taurus, in the lease negotiations.
DALLAS — Partners Real Estate has arranged a 10,985-square-foot industrial lease in northeast Dallas. According to LoopNet Inc., the property at 10480-10490 Brockwood Road was built in 1984 and totals 58,758 square feet. Jeff McVaney of Partners represented the tenant, building materials wholesaler CP Supply Co., in the lease negotiations. Josh Barnes of Holt Lunsford Commercial represented the undisclosed landlord.