Category: News

Mohr Capital closes on Tesla industrial facility in San Antonio

Posted on by Mia Goulart

Mohr Capital, a privately held real estate investment firm, has added the 439,809-square-foot Foster Ridge II industrial property to its portfolio. The deal closed in March 2023. 

Foster Ridge II is located at 7015 Lancer Blvd., San Antonio, Texas 78219 and was built in 2022. The building is fully leased to Tesla. 

The property is a 36-foot clear cross-dock warehouse in one of the best industrial submarkets of San Antonio, where rents have continued to grow past $6 per square foot. 

Mohr Capital purchased the property from Becknell Industrial. JLL’s Dustin Volz, Dom Espinosa and Trent Agnew represented the seller. Rodrigo Godoi negotiated the transaction on behalf of Mohr Capital. 

DFW Metro ranks 2nd Top Metro in U.S. for Corporate Relocation and Site Selection

Posted on by Mia Goulart

For the 10th consecutive year, Site Selection Magazine has named Chicagoland the Top Metro in the U.S. for Corporate Relocation and Site Selection, as announced earlier this month.

According to Choose DuPage, Site Selection Magazine reported that the Chicago-Naperville-Elgin market saw a record number of new and expanding projects (448) which is more than any other region in the U.S.

“If winning multiple championships establishes dynasties, what do you call it when you win ten years in a row?” asked Site Selection Managing Editor Adam Bruns. “In Chicagoland, they hand the ball back to the ref and act like they’ve been there before. Because they have. Our project data tell us the metro area continues to attract companies and the talent those companies covet. Led by World Business Chicago, the newly formed Greater Chicagoland Economic Partnership and most of all by talented professionals, workers and business leaders, the region continues to meet its challenges with creative solutions, bold programs and the sort of candor and openness that’s almost a Chicago brand.”

Big players like Mars Wrigley, Kellogg’s, Google, BMO, EeroQ, Bartesian, New Cold and Lion Electric are among companies that expanded or relocated to Chicago in 2022.

Interesting news, considering the challenges faced by Chicago after COVID-19, but Bruns reported that a recent statistic from Kastle Systems found that among 10 major cities analyzed by how many office workers had returned to the office during a week in February, Austin, Chicago and Houston were the only cities with returned-worker percentages higher than 50%.

But Illinois was not the only state to make the list in a big way.

In Texas, Dallas-Fort Worth-Arlington and Houston-The Woodlands-Sugar Land also repeated their rankings from last year, with 426 projects and 255 projects, respectively.

In the per capita category, Austin-Round Rock ranked No. 1 and DFW No. 2, followed by Cincinnati at No. 3, Chicagoland at No. 4 and Louisville/Jefferson County at No. 5. 

Midway Announces New Property Management Assignment for Avenue Grove Luxury Mid-rise in Houston

Posted on by Mia Goulart

Midway, the privately owned, fully integrated real estate investment and development firm, will handle property management services for Avenue Grove, a luxury midrise residential tower in Houston’s Upper Kirby District. As property manager, Midway will provide residential leasing and marketing, routine and preventative maintenance, emergency preparedness and response, risk mitigation and asset preservation.

Avenue Grove sets the standard for contemporary urban living. The 270-unit midrise opened in 2015 and offers studio, one- and two-bedroom lofts and townhomes with floor-to-ceiling windows, solar shades, hardwood floors, sophisticated marble and granite countertops, large custom closets, and patios/balconies in select units. Thoughtfully considered community amenities include a 10,000-square-foot rooftop terrace with a sundeck and pool, a fitness center, a business center, gated garage parking, concierge services and a dedicated onsite team.

Midway developed and previously managed Kirby Grove—the mixed-use district in which Avenue Grove lies—in collaboration with Upper Kirby Management District. In addition to the 330,000-square-foot multifamily community, the 11-acre development is comprised of Kirby Grove Office Tower, a 225,000-square-foot office building with 25,000 square feet of ground floor retail, and Levy Park, a vibrant six-acre park. As part of the overall Kirby Grove project, Levy Park underwent a two-year, $15 million sweeping transformation and now serves as a community focal point and a venue to host events and district-centered programming. A private lease agreement with adjacent properties provides a sustainable funding source that helps pay for the park’s operation. Kirby Grove was completed in 2017.

Avenue Grove residents benefit from Kirby Grove’s premier dining, entertainment, boutique offices and activated green spaces just steps from their front door, as well as easy access to Levy Park’s activity and event lawns, performance pavilion, dog park, promenade with seating, community garden and 7,500-square-foot rain garden, which harvests and reuses stormwater.

Revantage, a Blackstone portfolio company, to lease space at Stream Realty Partners’ The QUAD in Uptown Dallas

Posted on by Mia Goulart

Revantage, a Blackstone Real Estate portfolio company, will soon call Stream Realty Partners’ The QUAD home as it expands its employee base in Dallas.

Revantage, which provides corporate services to Blackstone’s real estate portfolio, expects to occupy approximately 32,000 square feet on the third floor of the 12-story, Class AA office tower at 2699 Howell St. The space will accommodate the company’s current Dallas employee base with additional capacity to hire local talent in support of its strategic growth plan. Revantage will maintain its current headquarters and presence in Chicago’s Willis Tower and maintains other office locations around the world including in Europe and Asia.

Stream Senior Vice President Ryan Evanich and Vice President Marissa Parkin represented Stream, the owner of The QUAD, in the transaction. Jon McNeil, Torrey Littlejohn, and Christy Rhea of JLL represented the tenant.

Stream, a national commercial real estate firm offering an integrated platform of services, is developing the 345,425-square-foot office building and surrounding 18,500-square-foot retail area heralded as the dawning of “A Different Dallas.” The QUAD is expected to deliver in March 2024. Revantage anticipates moving employees in during the first half of 2024.

The QUAD will set a new standard in Dallas with an integrated “smart” building end-user interface. Pathogen-reducing technologies such as hospital-grade air filtration and outside air circulation on office floors are 50% higher than industry standards. Tenants such as Revantage will appreciate the tower’s full-service fitness studio, top-floor outdoor terrace with expansive views, a club lounge and conference center, an acre of outdoor space, a bike valet, and dedicated underground parking. The building is also steps away from popular Uptown restaurants, hotels, entertainment venues, and multifamily complexes.

Revantage is the third tenant, and largest thus far, to sign on at The QUAD. Stream previously announced that Two Hands, a community-focused eatery based in Australian café culture, will occupy one of the five free-standing retail spaces surrounding the office tower. Chicago Title, the largest title insurer and provider of real estate-related products and services in the world, was the first office tenant to sign on at The QUAD and will occupy 20,000 square feet.

Stream Realty Partners completes 156,483-square-foot speculative distribution development

Posted on by Mia Goulart

Stream Realty Partners has completed Raceway Northwest Distribution Center, a 156,483-square-foot speculative distribution development in Northwest Houston.

The new facility, which offers frontage along Fairbanks North Houston Road, provides immediate access to the Sam Houston Tollway, State Highway 249, and U.S. Highway 290. It is near Houston’s population center, providing logistical advantages to potential users. Stream, a national commercial real estate firm offering an integrated platform of services, is now offering immediate occupancy for users from 70,000 square feet to 156,483 square feet.

Raceway Northwest Distribution Center has been constructed to the most modern distribution development standards, including a front-load configuration with 36-foot clear height, 25 dock-high doors, and 109 vehicle and 22 trailer parking spaces. The development is move-in ready with speculative office space, a white-boxed interior warehouse, LED warehouse lights, and a fully fenced and secured truck court.

Kyle Fletcher, a Director in the Industrial Development Services division at Stream Houston, assisted in the development management of the project. Robinson, Senior Director Tyler Wellborn, and Director Craig McKenna also provided development oversight. Jeremy Lumbreras and Boone Smith, both Senior Vice Presidents for the Houston industrial division, oversee leasing efforts for the building.

Corporate neighbors include Amazon, The Home Depot, Panasonic, Advance Auto Parts, UPS, and Target.

Raceway Northwest Distribution Center is owned and overseen by Stream Realty Partners. Bringing over 170 years of combined experience, the Industrial Development Services division at Stream sources and executes development opportunities across a growing platform and offers a full suite of development-related services. Stream’s Investment Management Platform leverages expertise from Stream’s 15 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively owns 31 investments of 21 million square feet and approximately $3.1 billion in assets under management.

Partners Real Estate brokers sale of 2.09 acres of land in Houston

Posted on by Mia Goulart

Partners Real Estate, one of the largest independent commercial real estate firms in Texas, arranged the sale of 2.09 acres of land located at 50 Tidwell Road in Houston, Texas.

Partners’ Shaffer Braun, Partner – Industrial Services, Darren O’Conor, Partner – Industrial Services, and Patrick Keegan, Senior Associate, Retail Services represented the seller, Black Flag Tidwell Commercial, LLC in the transaction.