Echo Real Estate Capital, Inc. Sells Medical Office Building in Rowlett

Echo Real Estate Capital, Inc. has sold an out-patient medical office building anchored by Baylor Scott & White for $6 million.

The property is approximately 15,500 square feet and is located at 7801 Lakeview Parkway in Rowlett, Texas – one mile west of the Baylor Scott & White Lake Pointe Medical Center. The building was 100% occupied at the time of sale by four tenants that include the renowned Baylor Scott & White Texas Cardiac Associates, North Texas ENT, LabCorp, and Dr. Bart A. Deering, DDS.

“We have been targeting Texas for quite some time and we were able to acquire this asset off-market in May of last year,” said Echo Principal Jon Boyajian. “We loved the proximity to the Baylor Lake Pointe campus and the tenants were all very strong, but they were on short-term leases. Within six months, we had renewed all four tenants and had completed some minor capital improvements that had previously been neglected. Dave Kurtz and our asset management team did a phenomenal job.”

JLL Capital Markets Closes $61 Million in Financing for 17-Market Industrial Portfolio

JLL Capital Markets has arranged $61 million in acquisition financing for an industrial portfolio comprising nearly 24 last-mile, cross-dock truck terminals and transload properties across 17 markets in the Southeast, Mid-Atlantic, New England and Central U.S.

JLL worked on behalf of the borrower, Biynah Industrial Partners, to source the acquisition loan.

The portfolio is 93 percent leased to 18 tenants with an average tenure of nearly 17 years and substantial investment-grade in-place tenancy. The portfolio crosses various regions with assets in the Southeast, Mid-Atlantic, New England and Central U.S.

The portfolio provides end-to-end logistics solutions for today’s supply chain demands. These facilities represent mission-critical freight distribution transfer points, facilitating the flow of goods at the last stage of the supply chain. Each site offers optimal solutions for facility location, facility size, proximity to major infrastructure, truck court sizing, auto parking and other special use considerations.

This portfolio highlights the growing demand for Industrial Service Facilities, a rapidly growing multi-billion asset class that is suddenly on the radar of institutional investors. Such last-mile, cross-dock truck terminals and transload properties are increasingly driving investor attention due to their critical role in the movement of goods amidst supply chain backlogs.

The JLL Capital Markets team that represented the borrower was led by Managing Director Matthew Schoenfeldt and Director Lucas Borges.

Stream Realty Partners and Greystar Kick off Construction on Phase 2 of Whisper 35, a 500,000-Square-Foot, Class A Industrial Development Along Booming IH-35 Corridor

Austin, TX – June 22, 2022 – Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing properties and adjacent sectors, including logistics and life sciences, recently broke ground on Building 2 of its 500,000-square-foot, Class A industrial development along the flourishing Interstate 35 corridor in San Marcos.

Phase 1 consists of Buildings 1 and 2 totaling 180,000 square feet. Building 1 was completed in 2021 and is now fully leased. Building 2 includes one 90,025-square-foot building that is expected to deliver in the fourth quarter of 2022. Phase 2 contains Buildings 3-5 totaling 314,938 square feet of industrial space. It is expected to deliver in the third quarter of 2023.

Located in rapidly growing Hays County, Whisper 35 is a state-of-the-art, multi-phase development offering a unique opportunity to serve Austin, San Antonio, and everything in between. Dubbed the Texas Innovation Corridor, the greater San Marcos area is evolving as one of the most promising regions in the nation. It is increasingly being recognized by the national media and is home to rapid growth in several industries, including aerospace, aviation, security and defense; business services and support; regional distribution; and destination attractions.

Whisper 35 is located within proximity to IH-35 and is conveniently accessible via the 130 and 45 state highway toll roads. The development is 25 miles from Austin and 55 miles from San Antonio. It’s 20 minutes from the new Tesla factory and within a 10-mile radius of two Amazon distribution facilities totaling over 1.6M square feet.

The development team includes Greystar and RC Page serving as general contractor. Greystar has hired Stream Realty Partners to lease and manage the properties. The leasing team includes Managing Director and Partner Sam Owen, Senior Vice President Adam Green, and Vice President Mitchell Becker.

“With a soaring population, affordable housing, and strong labor metrics, San Marcos presents an incredible opportunity for industrial tenants to serve both Austin and San Antonio and everything in between,” Owen said. “As rental rates continue to increase citywide and new

development projects in Buda and Kyle prelease at a record pace, Whisper 35 offers an excellent solution to tenants seeking modern industrial buildings.”

About Stream Realty Partners

Stream Realty Partners is a full-service commercial real estate firm with integrated offerings in leasing, property management, tenant representation, development, construction management, investment sales, and investment management services. Headquartered in Dallas, Stream is dedicated to sourcing acquisition and development opportunities for the firm and its clients. Since 1996, the company has grown to a staff of more than 1,100 professionals with offices in Atlanta, Austin, the Carolinas, Chicago, Dallas, Denver, Fort Worth, Houston, Greater Los Angeles, Nashville, Northern Virginia, Phoenix, San Antonio, and Washington, D.C. Stream completes more than $5.8 billion in real estate transactions annually and is an active investor and developer across the nation. Visit www.streamrealty.com.

About Greystar

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties and adjacent sectors, including logistics and life sciences globally. Headquartered in Charleston, South Carolina, Greystar manages and operates over $221 billion of real estate in 224 markets globally including offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages over 768,000 units/beds, and has a robust institutional investment management platform with more than $58.2 billion of assets under management, including over $24 billion of development assets. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

Colliers Sells ±4.18 Acres Along Beltway 8 in South Houston

Houston, June 22, 2022 – Colliers is pleased to announce the sale of ±4.18 acres located between Beltway 8 and Fellows Road in Houston, Texas. The buyer, Fellow Houston Investment, LP, was represented by Travis Land, AJ Williams and Alisha Renshaw of NAI Partners. Tom Condon, Jr. of Colliers represented the seller, David Christian, in the transaction.

The subject property is situated along Beltway 8 and Fellows Road just west of SH 288. The unrestricted property is outside the city limits of Houston and Pearland. On behalf of Fellow Houston Investment, Adkisson Group Development plans to construct a ±61,700 square foot rear-load distribution building with an estimated completion date of March 2023.

The property is located in Houston’s South Hwy 35 industrial submarket. The submarket contains 43.7 million square feet of industrial space which is currently 97.2 percent occupied. The average asking market rental rate is $7.76 per square foot and there is 91,500 square feet of industrial space currently under construction in the submarket.

For further information please contact:
Tom Condon, Jr. | Principal, The Woodlands
+1 713 830 4007 | tom.condon.jr@colliers.com