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Hartman has recently announced two new leasing transactions:
Partners Real Estate arranged a 175,562-square-foot lease with UPS Supply Chain Solutions at Enterprise Industrial Park Building VII located at 17455 Lookout Road in Schertz.
Partners’ John Colglazier, Carlos Marquez and Kyle Kennan represented the landlord, BentallGreenOak in the transaction.
TexAmericas Center (TAC), which owns and operates one of the largest mixed-use industrial parks in the United States, has announced Rowe Casa Organics will once again expand operations on its property in to a 24,000-square-foot complex of buildings.
Rowe Casa Organics is an all-natural supplements company producing clean, non-toxic, high quality, and effective products. Its line of more than 250 products ranges from baby, pets, household, outdoor, wellness and personal care items. Founded in 2017, Rowe Casa has grown to be in more than 400 retail stores across the United States, fulfilling over 180,000 orders per year.
Rowe Casa will initially invest $1.5 million toward its expansion, retain 55 workers in the Texarkana region and add 20 more. The investment represents a homegrown success story for the company: TexAmericas Center first welcomed the company to its properties in 2019 when it leased a 4,700-square-foot building that was renovated in just 60 days. Demand, including international sales, for Rowe Casa products makes this recent expansion necessary.
Rowe Casa purchased the existing five-building complex at TexAmericas Center in December 2022. Initial investment will be used to renovate the buildings so the company can be fully operational by September 2023.
Along with expanding production operations and adding more line employees, Rowe Casa will also expand logistics operations in the initial phase of this investment. Inventory and shipping logistics will now be housed within the five-building facility and a loading-dock will be added to increase the speed of shipping.
As Rowe Casa grew it contracted with TAC3PL to take advantage of TexAmericas Center’s third-party logistics services. Now, TAC3PL assists the company to provide more space and flex human resources as needed.
Leadership at Rowe Casa say they wanted to expand within TexAmericas Center because of the great partnership they have developed with the organization, citing that TexAmericas Center invested over $250,000 in improvements to the first leased building in 2019 when the company was less than two years old.
In 2022, 11 new businesses relocated to TexAmericas Center, and tenants on the footprint added 218 new jobs for the region. With occupancy rates over 90 percent for its move-in ready buildings, TexAmericas Center has turned its attention to build-to-suit offerings.
Trez Capital is proud to announce the dual sale from its Trez Opportunity Funds (TOF) #4 and TOF #5 of The Beacon and The Dalton, located in the Austin region of Texas, as a portfolio to a single purchaser at a price exceeding initial sale expectations and providing investors with returns higher than the original proforma. Both projects are highly sought-after Austin multi-family communities that serve an undersupplied housing market.
Trez Capital’s Equity Investment Program partners with experienced developers in markets with strong population, job and gross domestic product (GDP) growth. The sale of both projects speaks to the continued growth and unwavering demand in Texas.
Both projects are in TOF #4 and TOF #5. After the sale of the remaining investments held by each TOF #4 and TOF #5, the Internal Rate of Return (IRR) on these funds are projected to be between 30% and 40%, which is well in excess of the projected IRRs of approximately 15% at the time of underwriting. There are several existing projects still performing in these TOFs, which will provide additional income to investors upon sale.
The Beacon and The Dalton are the fourth and fifth projects that Trez Capital has built in partnership with Thompson Realty Capital, which has over 25 years of experience in acquisitions, development, and property management of multi-family, office, and single-family residential projects.
The Beacon contains 258 dwelling units, and The Dalton contains 350 dwelling units. Collectively, these two projects add more than 600 high-quality residential units to a booming region in Austin that needs more housing supply. The projects will also offer the communities attractive amenities.
Trez Capital continues to invest in high-quality development opportunities across North America, particularly in the Sunbelt states such as Texas, Arizona and Florida, for the TOF series and Trez Capital Private Real Estate Fund Trust (TPREF).
The Beck Group promoted Ryan Therrell to lead the architecture and construction firm’s Austin office. Therrell succeeds Matt Williamson, who served as regional director for over two decades.
Before his promotion, Therrell was Beck’s director of client services. He was vital to the firm’s growth, helping it win many of Austin’s most high-profile architecture and construction projects.
A few notable design-build projects he’s responsible for include:
Therrell was integral to Beck winning the design of the Dell Jewish Community Center expansion and multiple construction projects at Dell Children’s Medical Center.
The Austin native recently established Beck’s Special Projects Group, which focuses on tenant improvement and asset repositioning. It recently won the Texas Permanent School Fund’s tenant improvement project, which begins construction this spring.
Partners Real Estate (Partners), one of the largest independent commercial real estate firms in Texas, arranged a 3,215-square-foot retail lease with Pork Chop Screen Printing located at 2015 E. Riverside Street in Austin.
Partners’ Todd Mahler represented the landlord, River Crest Investors LP in the transaction.