HOUSTON — Partners Real Estate has arranged the sale of a 22-unit apartment building located at 4525 Weaver Road in North Houston. According to LoopNet Inc., the two-story building was constructed on a half-acre site in 1972 and renovated in 2022. Ryan DeGennaro of Partners represented the seller, Mell Investment Group, in the transaction. Enrique Moreno Jr. of eXp Commercial represented the undisclosed buyer.
AUSTIN, TEXAS — Design and construction firm The Beck Group has signed a 10,400-square-foot office lease at Centro, a mixed-use development in Austin that is owned by locally based investment firm Riverside Resources. Taylor McHargue and Jay Lamy of AQUILA Commercial represented The Beck Group, which plans to take occupancy by the end of the year, in the lease negotiations. Riverside Resources was self-represented.
By Willy Walker, CEO of Walker & Dunlop I recently had the pleasure of sitting down to talk with some prominent members of the Walker & Dunlop team, including Kris Mikkelsen, executive vice president of investment sales, Aaron Appel, senior managing director of capital markets, and Ivy Zelman, executive vice president of research and securities. In this episode of the Walker Webcast, “State of CRE,” we covered some of the most prominent issues the commercial real estate industry is facing, as well as some headwinds it will continue to face in the future. Changes in Homebuilding and Consumer Spending Although homebuilders had to offer incentives when rates first started increasing last year, they are still seeing a steady demand for homes, as demand still heavily outpaces supply. This imbalance is seen in the new and existing home market. Single-family homes in many markets across the country are in multiple offer situations, indicating that single-family residential real estate is still strong. This is incredible, given the fact that many existing homeowners are locked into mortgage rates in the 2-5 percent range, giving them little reason to move out of their current home. How Mortgage Deals Are Currently Financed Although we are …
HOUSTON — CBRE has brokered the sale of a portfolio of eight industrial buildings totaling approximately 1.2 million square feet that are located throughout the Houston area. The buildings feature a mix of front-load and cross-dock configurations and clear heights ranging from 20 to 34 feet. At the time of sale, the properties were fully leased to a roster of tenants with a weighted average remaining lease term of 3.75 years. ATCAP Partners purchased the portfolio from CenterPoint Properties for an undisclosed price. Nathan Wynne, Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE brokered the deal.
HOUSTON — Provident Realty Advisors will develop Port 99, a 1.2 million-square-foot industrial project that will be located near Port Houston on the city’s southeast side. The development’s multiple buildings will have front-load and cross-dock configurations, clear heights of 32 to 40 feet, 437 parking stalls and 1,184 trailer parking stalls. Warren Hitchcock and Emily Zarcaro of Northmarq arranged equity from an undisclosed source on behalf of Provident Realty Advisors. Construction will begin before the end of the current quarter and is expected to last about a year. Lee & Associates is marketing the project for lease.
NASHVILLE, TENN. — Nashville-based provider HCA Healthcare has entered into an agreement to purchase 41 urgent care centers located throughout Texas from regional owner-operator FastMed. The addition of the clinics, which are located throughout the metro areas of Dallas, Austin, San Antonio, Houston and El Paso, will raise HCA Healthcare’s national portfolio count of urgent care centers to 268. The deal is expected to close this summer.
AUSTIN, TEXAS — RWE Renewables, which develops and operates renewable energy plants, has signed a 69,000-square-foot office lease at Centro, a mixed-use development in Austin that is owned by locally based investment firm Riverside Resources. John Gump, Nate Stricklen and Jon Milonas of CBRE represented RWE Renewables in the lease negotiations. Riverside Resources was self-represented. A quartet of merchandisers and restaurants also recently signed leases to occupy the development’s 15,000 square feet of retail space.
WEBSTER, TEXAS — Locally based brokerage firm Finial Group has negotiated a 16,400-square-foot industrial lease in Webster, a southeastern suburb of Houston. According to LoopNet Inc., the building at 16920 Texas Ave. was built in 1981, totals 53,290 square feet and features 18-foot clear heights. Jason Gibbons and Doc Perrier of Finial Group represented the tenant, Pennsylvania Tool Sales & Services, which supplies heavy industrial and manufacturing companies, in the lease negotiations. The landlord was not disclosed.
GALVESTON AND BAYTOWN, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of a portfolio of two self-storage facilities totaling 790 units in Galveston and Baytown. The facilities, which are together known as the Watson & Taylor Portfolio, total 104,830 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the Texas-based seller in the transaction. The team also procured the buyer, New York-based owner-operator Andover Properties, which is perhaps best known for its Storage King USA brand.
HOUSTON — New York-based global investment firm GTIS Partners will develop an approximately 484,000-square-foot industrial project in southeast Houston. The development will consist of a 355,071-square-foot, cross-dock building and a 128,999-square-foot, rear-load building on a 26-acre site. Building features will include 36- and 32-foot clear heights, respectively, and combined parking for 382 cars and 93 trailers. Construction is scheduled to begin in the fourth quarter and to be complete in summer 2024. Other project partners include Powers Brown Architecture and Langan Engineering.