Author: Sarah

GREA Closes Three Multifamily Properties in Arlington

Posted on by Sarah

GREA (Global Real Estate Advisors) has announced the sale of three multifamily properties in the Dallas-Ft. Worth Metroplex totaling 217 units. Avalon Apartments, 75 units in Arlington; Tuscany Square, 70 units in Arlington; and Regency Apartments, 72 units in Arlington.

GREA Executive Managing Director Mark Allen represented the sellers and assembled the portfolio for a single, out-of-state buyer.

Each property was built in the 1960s, but has not been modernized in several years. The new ownership plans to vastly improve each community to provide higher quality housing for Arlington’s residents.

Arlington boasts a thriving rental market with consistent high growth and occupancy. The city is ranked in the top 15 of the safest and most livable cities in the country, drawing new residents looking to take advantage of its great amenities and growing job base.

Dallas – Fort Worth continues to soar to the top of the list of the country’s biggest real estate investment markets. Over the past four quarters, DFW was No. 1 in the nation in multifamily investments. The region saw $29.2 billion in total volume, accounting for 7.8% of the U.S. total.

Colliers Sells 48,000 Square Foot Industrial Facility in Northeast Houston

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Houston, May 19, 2022 – Colliers is pleased to announce the sale of a four building industrial facility, totaling 48,000 square feet, located at 2407 Wilson Road in Humble, Texas. The buyer, 2407 Wilson LLC, was represented by Patrick Swint of Knightsbridge Ventures. Tom Condon, Jr. of Colliers represented the seller, R.B. Machine Works, in the transaction.

The industrial facility is comprised of four buildings situated on ±3.26 acres. The property features utilities provided by the City of Humble, heavy power, natural gas service, and motorized gate fencing.


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The property is located in Houston’s Northeast Hwy 90 industrial submarket. The submarket contains 24.3 million square feet of industrial space which is currently 91% occupied. There is over 753,000 square feet of industrial space currently under construction in the submarket.

Colliers Sells ±1.03 Acre Fenced and Paved Site in Houston

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Houston, May 18, 2022 – Colliers is pleased to announce the sale of ±1.03 acres located at 4506 and 4512 Steffani Lane in Houston, Texas. The buyer, Lipien Land Company LLC, was represented by Andrew Brod of Whitebox Real Estate, LLC. Paul Dominique and Tom Condon, Jr. of Colliers represented the seller, 4512 Steffani Property LLC, in the transaction

The fenced and paved site was once two former buildings consisting of 16,000 and 5,000 square feet. The plot now features three curb cuts, a useable slab in place and is not within the flood plain. The property is situated just north of Clay Road between Steffani Lane and Gessner Road with easy access to Sam Houston Tollway, Hempstead Highway and Northwest Freeway (290).

The property is located in Houston’s Northwest Inner Loop industrial submarket. The submarket contains 64.8 million square feet of existing industrial space, which is currently 94.5% occupied. There is 135,000 square feet of additional space under construction.

Downtown Austin’s Momentum Continues with Sale and Financing of Westview

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JLL Capital Markets announced today that it has closed the sale and arranged financing for the acquisition of Westview, a LEED-Gold, Class-A creative office building totaling 100,166 square feet in downtown Austin, Texas.

JLL procured the buyer, Arc Capital Partners, and represented the seller, Prescott Group. Additionally, JLL helped facilitate the acquisition loan.

Westview is located at 316 W. 12th St. at the intersection of Guadalupe and 12th Street in downtown Austin. The property has a live-work-play location with more than 2.9 million square feet of retail nearby and more than 3,000 multi-housing units in addition to being just blocks from the University of Texas at Austin and the Capitol. The property is well-served by public transportation with a MetroRapid service stop in front of the building.

Recently renovated into a LEED Gold, boutique creative office building, Westview features floor-to-ceiling windows, flexible floorplates, and a new HVAC system with MERV-rated air filtration. Westview is 93% leased and offers market-leading amenities including an on-site café, conference room, fitness center with showers, bike lockers, and a rooftop terrace with panoramic views of Austin. Prescott Group acquired Westview in 2016, with the vision to renovate and transform the asset into a unique property befitting its Austin surroundings. Partnered with a local Austin contractor, The Burt Group, and Andersson Wise as the Architect the team was able to accomplish their goals.

The JLL Capital Markets debt team representing Arc Capital Partners was led by Senior Managing Director Jeff Sause, Managing Director Casey Wenzel and Analyst Matthew Ctvrtlik.

The JLL Capital Markets sales team representing Prescott Group was led by Senior Managing Directors Andrew Levy and Todd Savage and Managing Directors Kelsey Shebay and Jeff Coddington.

The Woodmont Company Begins Construction of New Starbucks in Longview

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The Woodmont Company, a national real estate firm specializing in the development, management, leasing and sale of retail properties, has started construction on a new Starbucks located at 3620 Estes Parkway adjacent Interstate 20 in Longview, Texas. The restaurant will feature a drive-thru and outside seating but no indoor dining.

The Starbucks building replaces a gas station that was demolished. This restaurant will be located next to a new McDonalds.