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Partners Real Estate, one of the largest independent commercial real estate firms in Texas, recently arranged a sublease of 52,622 square feet signed by Patterson-UTI Energy, Inc. located at 10713 W. Sam Houston Parkway North in Houston, Texas.
Partners’ Dan Boyles represented Patterson-UTI Energy, Inc., the sublessee, in the transaction. Jon Williams and Kevin Saxe of CBRE represented the sublessor, Acclara Solutions.
CBRE announced the sale of Alcott Station, Buildings B & D. The two buildings, totaling 918,000 square feet, are a part of a 160-acre master planned Class A+ business park in Mesquite, Texas. BentallGreenOak purchased the property from Urban Logistics Realty for an undisclosed price. Building D was 100% leased at the time of sale to RJW, a third-party logistics provider.
Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller.
Alcott Station is a master planned business park that will include over 1.6 million square feet once fully developed. The property encompasses human-centric designs implanted across the entire park to enhance the quality of life of the surrounding residents and future employees. Urban Logistics initially began plans for Alcott Station in 2020 after a successful project in Mesquite called Urban District 30, a nearly one million-square-foot business park near I-30 and Loop 635.
What sets Alcott Station apart is the emphasis on creating an exceptional working environment. Located at the intersection of E. Scyene Road and Faithon P. Lucas Sr. Boulevard, Alcott Station was designed to include a five-acre public park connected to each building by a walking trail with the intent to enhance the quality of life for employees and surrounding residents. The park area will have playground equipment, workout equipment, as well as a fenced dog park. The Alcott Station design standards create a welcoming and modern corporate campus environment across the entire 160-acre master plan development.
Totaling 592,995 square feet, Building D was fully leased to RJW at the time of the sale. Building B, totaling 325,218 square feet, is available for lease. CBRE’s Kacy Jones, John Hendricks and Trevor Atkins with CBRE in Dallas are marketing the building for lease for the new ownership.
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:
JLL Capital Markets has closed the $32.125 million construction financing for the development of The Virginia, a 198-unit market-rate multi-housing project located in Seguin, Texas.
JLL represented the borrower, Periscope Capital Investment and Verdot Capital, to secure the 15-year, floating-rate loan through a regional bank.
With an anticipated completion in 2024, the three-story project will offer one-, two- and three-bedroom units, averaging 892 square feet. Community amenities will include a best-in-class fitness center, sauna, yoga room and swimming pool, as well as a a recreational patio, a business center, barbeque areas, dog parks and more. A second phase of this project will be delivered in 2025, which will bring the total market-rate units to 424.
Located at 3501 N. Austin St., The Virginia is located thirty minutes east of San Antonio and about an hour south of Austin. The site also features direct access to Interstate 10, which is a direct transportation artery into Downtown San Antonio. Seguin serves as the retail hub for three major counties, Guadalupe, Gonzales and Wilson, and the site provides convenient access to downtown Seguin, which houses the bulk of the retail options. Nearby attractions include ZDT’s Amusement Park, The Seguin-Guadalupe Heritage Museum, Walnut Springs Park and Max Starcke Park and Golf Course.
The JLL Capital Markets Debt Advisory team was led by Director Alanna Ellis, Managing Director Jeff Lepley and Associate Alex Sheaffer.
JLL Capital Markets has arranged the sale of Caliza, a 270-unit, Class A, garden-style apartment community in the northwest Austin suburb of Cedar Park, Texas.
JLL worked on behalf of the seller, Internacional Realty, and Virtus Real Estate Capital acquired the asset.
Built in 2020, Caliza features one-, two- and three-bedroom units with modern finishes, wood-style flooring, custom cabinetry, stainless steel appliances, LED lighting, 14-foot ceilings, private yards and direct access garages. The property features a best-in-class amenity package, including a recently renovated resort-style swimming pool, expansive fitness center and group exercise room, outdoor pavilion with an exterior fireplace and a clubhouse with a catering kitchen.
Situated at 12638 Ridgeline Blvd., the property is within proximity to several highly regarded neighborhoods, such as Anderson Mill, Cypress Mill and Avery Ranch, and is surrounded by some of the city’s most prominent economic drivers, including Austin’s premier mixed-use hub, The Domain and Dell Technology’s campus. The community provides residents with access throughout the metroplex via Highway 183 and Highway 45 and is just six minutes from Westwood High School, one of Austin’s premier high schools known for top-rated academics. Additionally, Caliza is a short drive from Lake Travis.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Ryan McBride and Robert Arzola.
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.