Tag: Silver Star Properties REIT

Silver Star Properties shares new leasing activity in Dallas and Houston

Posted on by Mia Goulart

Silver Star Properties REIT, Inc. (Silver Star Properties), formerly known as Hartman Short Term Income Properties XX, Inc. has announced new leasing transactions in Dallas and Houston:

  1. Healthline Medical Equipment, Inc. Renewed 12,001 square feet at 1901 North Glenville Drive in Richardson, Texas. In the transaction, Lynna Smith represented the landlord, Silver Star Properties REIT. 
  2. Perc Engineering, LLC expanded 3,078 square feet marking a 14749 office space at 1880 S. Dairy Ashford Road in Houston, Texas. In the transaction, John Silberman with NAI represented the tenant and Kacie Skeen represented the landlord, Silver Star Properties REIT.
  • 1901 North Glenville Drive, Richardson

Silver Star Properties shares new leasing activity in San Antonio and Dallas

Posted on by Mia Goulart

Silver Star Properties REIT, Inc. (Silver Star Properties), formerly known as Hartman Short Term Income Properties XX, Inc. has announced new leasing transactions in San Antonio and Dallas:

  1. City Oritente, Inc. Renewed 4,007 square feet at 8610 North New Braunfels in San Antonio, Texas.  In the transaction, Kaila Brodeur represented the landlord, Silver Star Properties REIT. 
  2. Foot Locker Retail, Inc. Renewed 3,484 square feet at 5486 Walzem Road in San Antonio, Texas. In the transaction, Brent St. Amant and Kaila Brodeur represented the landlord, Silver Star Properties REIT. 
  3. Pecos Construction LLC renewed 3,609 square feet at 8111 LBJ Fwy in Dallas, Texas. In the transactions, Lynna Smith and Katie Covarrubias represented the landlord, Silver Star Properties REIT. 
  • 8610 North New Braunfels, San Antonio, TX
  • 5486 Walzem Road, San Antonio, TX
  • 8111 LBJ Fwy, Dallas, TX

Silver Star sells 734,000-square-foot warehouse facility in Houston

Posted on by Mia Goulart

Silver Star Properties REIT, Inc. (Silver Star Properties), formerly known as Hartman Short Term Income Properties XX, Inc. announces the disposition of its industrial warehouse facility located at 2300 Quitman St. in Houston, Texas. The property was sold to a nationally focused real estate development and investment platform.

The 734,000-square-foot property was initially purchased by Silver Star Properties in 1998. Built in 1920, the property has experienced many uses because of its proximity to Downtown Houston and the Port of Houston. It’s easy access to Houston’s major freeways, also noting it a primely located facility. It has played an important role in the Company’s industrial portfolio with much of its rental revenue generated from its anchor tenants, Liberty Tire Recycling, LLC and Sunbelt Warehouse, LLC.

As the sale was marketed, and at the discretion of the buyer, the value-add facility and its property have the potential for redevelopment or tenant lease continuations as the property is fully occupied.

Silver Star Properties announces pivot to self-storage and the acquisition of Southern Star Self-Storage Investment Company

Posted on by Mia Goulart

Silver Star Properties REIT, Inc. (Silver Star Properties), formerly known as Hartman Short Term Income Properties XX, Inc., announced that its executive committee has approved the repositioning plan to pivot the company’s assets into the self-storage asset class. As an additional part of this plan, the board of directors also approved the acquisition of Southern Star Self-Storage Investment Company (Southern Star Self-Storage), and it has reached a long-term employment agreement with Mark Torok, CEO, as it solidifies its pivot away from office, retail and light industrial assets into self-storage.

Southern Star Self-Storage is a privately held real estate company that specializes in the sponsorship and management of DST investments in self-storage properties. Established in 2019, the company currently operates a portfolio of nine properties, which together comprise 321,291 net rentable square feet (NRSF) spread across 2,526 units. Additionally, the company has two facilities, totaling 208,220 NRSF and 703 units, under contract that are expected to close by June 1, 2023. Most of the facilities also have parking for boats, RV’s and autos. The facilities generally contain both climate and non-climate-controlled units and are located predominantly in secondary and tertiary markets in Texas, Florida, North Carolina, and Colorado.

In conjunction with the acquisition, Mark Torok signed a three-year employment agreement with the company, with the goal of creating liquidity for existing shareholders through listing the company on a public exchange.

To align the interests of our leadership with our investors in carrying out the repositioning plan, Mark Torok and the members of the executive committee have been awarded participation units in a long-term incentive plan.

Silver Star Properties announces new leasing activity in Dallas

Posted on by Mia Goulart

Silver Star Properties REIT, Inc. has recently announced two leasing transactions in Dallas, Texas:

  1. Cook Financial Services renewed 2,004 square feet at 12655 North Central Expressway. In the transaction, Michael Bowles with Avison Young represented the tenant and Alex Houston represented the landlord, Silver Star Properties REIT, Inc. 
  2. Pediatrix renewed 3,882 square feet at 12655 North Central Expressway. In the transaction, Pediatrix represented itself and Allison Fannin and Caleb Ninemire represented the landlord, Silver Star Properties REIT, Inc. 

Silver Star Properties completes sale of 17.2 acres in Fort Worth

Posted on by Mia Goulart

Silver Star Properties REIT, Inc. (Silver Star Properties), formerly known as Hartman Short Term Income Properties XX. Inc. announces the disposition of 17.2 acres of land located at 820 North Business Park in Fort Worth.

The 820 North Business Park property, also known as Longhorn Business Park, was initially purchased by Silver Star Properties in 2009. Following the purchase, Silver Star Properties held the land for 10 years before selling two of the nine parcels totaling 9.9 acres in 2019 to Champion Realty Advisors.

In 2020, Silver Star Properties completed plans to develop two traditional warehouse/flex buildings on the remaining seven parcels of land to meet the increasing demand for logistics in the DFW area. Primely located just off Interstate 820 and conveniently positioned two miles from the Fort Worth Meacham Airport, the property poses significant potential for return once complete.