Forty-bed inpatient rehabilitation hospital trades in San Antonio

JLL Capital Markets arranged the sale of PAM Health Warm Springs Rehabilitation Hospital Northeast in San Antonio. JLL Capital Markets also represented the buyer in arranging acquisition financing.

JLL represented the seller, The Sanders Trust, in the sale and placed financing for the buyer, Norvin Healthcare Properties.

The hospital features inpatient rehabilitation and is a joint venture between PAM Health (PAM) and Bexar County-based, University Health. PAM is the fourth largest post-acute care operator in the United States with 65 hospitals nationwide. Completed in 2021, the newly constructed hospital features 40 beds in 38,667 square feet, therapeutic equipment, modern amenities and a comfortable environment to facilitate patients’ recovery from health events such as stroke and brain trauma.

PAM Health Warm Springs Rehabilitation Hospital Northeast is located at 11407 Wayland Way in San Antonio, the 24th largest metro in the United States. The hospital is in the desirable northeast area of San Antonio and is one of three inpatient rehabilitation hospitals operated by PAM in the San Antonio area, ensuring significant market penetration by PAM in serving patients requiring intensive inpatient therapy following discharge from an acute care hospital.

The JLL Capital Markets team was led by Senior Managing Directors Mindy Berman and Brian Bacharach and Director CJ Kodani. The JLL Capital Markets team that raised acquisition financing for the purchaser was Director Anthony Sardo and Managing Director Tim Joyce.

Class A industrial building, Freeport Business Centre, trades in South San Antonio

JLL Capital Markets closed the sale of Freeport Business Centre, an industrial warehouse totaling 198,000 square feet near San Antonio, Texas.

JLL represented the seller, Becknell Industrial, in the sale to Harbor Capital, the buyer, represented by Avison Young.

Freeport Business Centre, built in 2008, is situated on 9.93 acres and features a rear-load configuration, 40-foot clear heights, 24 dock-high doors, a 130-foot-deep truck court and 94 auto parking spaces.

The property is located at 10120 Fischer Road, less than one mile from Interstate 35, which connects Mexico to the U.S. to Canada and provides accessibility throughout San Antonio via Loop 410 and Loop 1604. The submarket is home to Toyota’s 1.5 million-square-foot manufacturing plant and Navistar’s recently delivered one million-square-foot manufacturing hub, which are a few miles from Freeport. The property is within proximity to Downtown San Antonio, offering convenient access to all parts of the city, including the Far West, one of the fastest growing areas of San Antonio. Additionally, its proximity to major transportation routes further enhances its ability to serve as a premier last-mile distribution facility and capitalize on the robust U.S.-Mexico nearshoring trend.

With easy access to the Texas Triangle, the area between Dallas/Fort Worth, Houston and San Antonio, Freeport Business Centre tenants can reach over 25 million people in a matter of hours. Over the next 40 years, the population of the Texas Triangle is projected to grow more than 65%, resulting in 78% of Texans living within the area.

The JLL Capital Markets Industrial Investment Sales and Advisory team was led by National Industrial Group Co-Lead & Senior Managing Director Trent Agnew, Director Josh Villarreal and Analyst Greer Shetler.

The Avison Young team, representing the buyer, was led by Stan Nowak.

CBRE arranges sale of prime retail development on West 6th Street in Austin

CBRE has announced the sale of West Side Village, a two-story, 51,392-square-foot retail development located along West 6th Street in the Clarksville neighborhood of Austin, Texas, just minutes from downtown. Riverside, an Austin-based real estate investment firm, acquired the property.

CBRE’s Bradley Bailey and Logan Reichle represented the seller, a joint venture between Stonelake Capital Partners and Schlosser Development. Terms of the deal were not disclosed.

Located at 1214 & 1312 West 6th St., the 51,392-square-foot mixed-use building is currently vacant and was constructed in 1951. Sitting on 1.75 acres, the previous owners had plans to build a 100,000-square-foot bespoke office building with ground-floor retail on the site before ultimately selling.

Located just down the street from West Side Village is Riverside’s latest project, Sixth&Blanco, designed by Herzog de Meuron. The five-story mixed-use development will include fine modern retail and restaurant space, a bespoke hotel with pool, bathhouse and spa, and ten luxury homes. Over the last three decades, Riverside has contributed to Austin’s reputation for technology, innovation, and its active urban lifestyle, through a portfolio of standout properties that have set new standards for performance throughout the region.

Two newly built, adjacent retail properties in suburban Austin secure acquisition financing

JLL Capital Markets has arranged the acquisition financing for two, newly built, adjacent retail properties located in the Kyle Crossing mixed-use development within the Austin suburb of Kyle, Texas.

JLL worked on behalf of the borrower, Door Capital Partners.

The Kyle Crossing mixed-use development provides space for a variety of businesses, including retail, health and wellness, restaurants and entertainment. The two retail buildings are a part of the Kyle Crossing Phase II development and are 100% occupied on a triple-net-lease basis. The 7,254-square-foot building is anchored by Chipotle and is also leased to Crumbl Cookies and Heartland Dental. The second building is 6,913 square feet and is anchored by Black Rock Coffee. Additional tenants include Spoon & Fork and Every Nails Bar.

Located at Marketplace Avenue and Kyle Parkway, Kyle Crossing Phase II is 20 miles from Austin. The buildings are walkable to 1,100 multi-housing apartments and are within proximity to a Target, Kohl’s, Petco, Ross and HEB. The Village at Kyle is across I-35 to the east and includes the 300,000-square-foot Seton Hospital with up to 600 employees and approximately 150 beds, 100,000 square feet of medical office space, a Wal-Mart Supercenter and Lowe’s. Within a five-mile radius is a population of 200,000 and an average household income of $100,000.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director CW Sheehan and Analysts Kaitlin Kane and Hunt Wood.

The Austin JLL Retail Brokerage team represented the seller.

Financing secured for Four Oaks Industrial Park in Texas

JLL Capital Markets has arranged the financing for Four Oaks Industrial Park totaling 170,000 square feet in Schertz, Texas.

JLL worked on behalf of the borrower, Rosewood Property Company, to secure the loan from Lincoln Financial Group.

The single-building, two-tenant industrial park was delivered in 2022 and is fully occupied. The building sits on a 9.59-acre parcel and features 32 dock-high doors, two drive-in doors and 30-foot clear heights.

Located at 17670 Four Oaks Lane, Four Oaks Industrial Park is strategically situated approximately 1,300 feet from I-35 and is less than a 60-minute drive to both the San Antonio and Austin metros. The region also boasts a highly accessible location that is proximate to many of Texas’ major thoroughfares. This accessibility to dense population centers has led to steady demand along the I-35 Corridor. This demand has also allowed the surrounding Guadalupe/Comal County submarket to become one of the best performing industrial submarkets in Central Texas.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director John Brownlee and Director John Bauman.

Merriman Anderson Architects designs affordable rental community in Round Rock

Merriman Anderson Architects (MAA) announces construction has commenced on their Preserve at Mustang Creek project, an $88 million rental community located in Round Rock north of Austin, Texas. MAA provided architecture and interior design services for the three-story family friendly, garden-style project which includes 252 units, clubroom, indoor play space, outdoor playground, resort-style pool with grill stations, garages and covered parking. A large solar carport will offset 90% to 100% of common electricity use.  

LS Black Development of St. Paul, Minnesota, is developing the 11.3-acre site at 1401 County Road 118 in Round Rock which will provide stylish modern apartments and amenities priced for affordability to households earning 30% to 60% of the area’s median income. MAA designed one- to four-bedroom configurations as well as Type A Accessible Units, and units equipped with accessibility equipment for residents with hearing and visual impairments. 

Public financing assistance was provided by the Texas Department of Housing and Community Affairs, along with private financial partners on the project. In addition to MAA, professional consultants include Westwood Professional Services (civil engineering); BHB (mechanical, electrical, plumbing); Salas O’Brien (structural, facilities planning); and Cadence McShane Construction (general contractor). 

Construction commences this month and is scheduled for completion in September 2025.