FRISCO, TEXAS — Orlando-based Simply Self Storage has opened a 733-unit facility at 4740 4th Army Drive in the northern Dallas suburb of Frisco. The Class A property, construction of which began in August 2017 and lasted about a year, offers 82,850 square feet of net rentable space. The facility offers a mix of climate-controlled and interior storage units, as well as exterior, drive-up units.
HARLINGEN, TEXAS — JLL has negotiated the sale of Stoneleigh Harlingen, a 180-unit multifamily community in the Rio Grande Valley city of Harlingen. Built in 2006, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, business center and a resident clubhouse. Zar Haro, Moses Siller and Robert Arzola of JLL represented the seller, Seneca Investments, in the transaction. Leuven Group acquired the asset for an undisclosed price.
SAN ANTONIO — HR Construction is nearing completion of upgrades to the 1,002 guest resort suites at the JW Marriott San Antonio Hill Country Resort & Spa. Rooms at the property, which opened in 2010 as the largest JW Marriott resort in the world, feature new furnishings and light fixtures, as well as redesigned bathrooms and 65-inch TVs. Seifert Murphy handled design of the project, which is slated to be fully complete in early March.
HOUSTON — The Home Depot has signed a 20-year industrial lease at Grand National Business Park, an industrial center in Houston that was developed by Hines. The Houston Chronicle reports that the Atlanta-based home goods chain will occupy 770,640 square feet of cross-dock space at the property, which is located near George Bush Intercontinental Airport, as part of a larger investment in its supply chain management.
SUGAR LAND, TEXAS — Berkadia has negotiated the sale of Stella at Riverstone, a 351-unit multifamily community located in the southwestern suburb of Sugar Land. Built in 2018, the property features one-, two- and three-bedroom units with stainless steel appliances, granite and quartz countertops and washers and dryers. Amenities include a pool, fitness center, business center, resident lounge and a conference room. Ryan Epstein and Jennifer Ray of Berkadia represented the seller, Alliance Residential, in the transaction. The buyer was Florida-based Cardone Capital.
FORT WORTH, TEXAS — Local development firm Jackson-Shaw has begun construction of a 252-room AC Hotel by Marriott in downtown Fort Worth. The 16-story property, which will be the first hotel of this brand in Fort Worth, will feature a communal space with a full bar, 24-hour wellness center and a full-service restaurant. The opening is slated for fall 2020.
HOUSTON — A joint venture between two Houston-based firms, Belvoir Real Estate Group and Mission Cos., has acquired 15810 Park Ten Place, an 85,050-square-foot Class B office property located in Houston’s Energy Corridor. Kevin McConn, Rudy Hubbard and Rick Goings of JLL led the sales efforts on behalf of the seller, a joint venture between Dallas-based Chief Partners and the Houston office of Stream Realty Partners. Other terms of sale were not disclosed.
TEMPLE, TEXAS — Dougherty Mortgage has arranged an undisclosed amount of acquisition financing for Midtown Apartments, a 128-unit multifamily asset located in the central Texas city of Temple. The property offers one- and two-bedroom units and amenities such as a pool, fitness center, basketball court, outdoor grilling area and a resident clubhouse. Dougherty arranged the 12-year loan through a partnership with Old Capital Lending on behalf of the undisclosed borrower.
AUSTIN, TEXAS — National development firm Cypress Real Estate Advisors and Austin-based Greenbelt Commercial LLC will develop Eastlake at Tillery, a 162,000-square-foot office project in East Austin. The property will consist of two buildings and an above-ground parking garage. Delineate Studios is handling design of the project and AQUILA Commercial is handling leasing. The groundbreaking is slated for fall 2019 and completion is scheduled for 2020.
FRISCO, TEXAS — New York City-based investment firm Admiral Capital Group has acquired Duke Bridges III, a 161,131-square-foot office building located in the northern Dallas suburb of Frisco. The property was built in 2007 and was 94 percent leased at the time of sale to tenants in the technology, government and business services sectors. Admiral Capital also acquired with Parkwood Place, a 98,750-square-foot office complex in Plano that was sold by California-based KBS.