Cornet Limited, Inc. leased 2,774 square feet at 613 NW Loop 410 in San Antonio, TX. Dough Collins with KW Commercial represented the tenant and Austin Brodeur and Kaila Brodeur represented the landlord, Hartman Income REIT.
Category: Central/South Texas Deals & Announcements
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.
Amerivet Signs Full-Floor Expansion at Hartman’s Energy Plaza Office Building in San Antonio, TX
(San Antonio, TX)— Amerivet, a rapidly growing operational resource for established Veterinarians has signed a full-floor lease expansion at Hartman Income REIT’s (Hartman) Energy Plaza office building at the Loop 410 Highway/281 interchange in San Antonio. The expansion adds an additional 13,000 square feet to Amerivet’s headquarters and expands the company’s office space footprint to two full floors.
“The growth that Amerivet has experienced in the recent months has been tremendous to witness. We are so proud to have them as tenants in our building. They recognize the importance of having their team fully back to the office and are benefiting from in-person collaboration, mentoring, and increased productivity” said Kacie Skeen, VP of Leasing for Hartman.
Amerivet’s expansion will commence on January 1st, 2024 and will include an installation of the company’s logo as brand signage on the exterior of the San Antonio office building.
Built in 1980, Energy Plaza was acquired by Hartman in 2014 year. The two building seven story property totals over 180,000 square feet on approximately four acres. The buildings’ amenities include on-site management, garage parking, an on-site building engineer, multiple conference rooms, and controlled building access.
In lease negotiations, Kacie Skeen, VP of Leasing, represented Hartman.
To learn more about leasing commercial real estate in San Antonio, Houston, or DFW (Dallas Fort Worth), please contact a Hartman leasing agent at 800.880.2212 or visit www.hi-reit.com.
Marcus & Millichap Arranges Sale of 16,964-Square-foot Office Building in San Antonio
Marcus & Millichap announced the sale of the Dugas Professional Building, a 16,964-square-foot office property located in San Antonio, Texas, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The asset sold for $5,558,000.
First Vice Presidents Brett Rodgers and Frank M. Roti and Associate Alex Sacks, and investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of Stage Equity Partners, LLC, the seller, a private investor based in Chicago. Texas Broker of Record Tim Speck assisted in closing this transaction.
The Dugas Professional Building is located at 9410 Dugas Drive in San Antonio, Texas. The building was built in 2008 and was 100 percent occupied at the time of the sale by four medical tenants that serve the San Antonio area. There was extensive competition from a local and national pool of buyers.
Clean Investments Inc Leased 2,400 SF at 5332 Walzem Rd in San Antonio
Clean Investments Inc. leased 2,400 square feet at 5332 Walzem Road in San Antonio, TX. Ashley Barnes with Vortex Realty represented the tenant and Wil Logan and Kaila Brodeur represented the landlord, Hartman Income REIT.
TruAmerica Multifamily Debuts Build-for-Rent Development Division
TruAmerica Multifamily has launched a Build-For-Rent development division to build townhome and single-family rental communities in suburban submarkets. Veteran BFR executive Mitch Rotta has joined the firm as senior managing director to lead the new division.
The initial roll-out of TruAmerica’s in-house BFR platform will be in high-growth Southwest, Southeast and Texas suburban markets, which represents about 60% of the firm’s $16.1 billion multifamily portfolio.
“The changing demographics of the U.S., the ongoing affordability-challenges and credit qualification standards of homebuying for Americans has led to a steep decline in home ownership rates, but the desire to live in a home remains high,” said chief executive officer and founder Robert Hart. “BFR is a natural extension of our workforce housing platform because it complements the same demographics that make up our Class-B multifamily strategy. It provides yet another housing option for working-class Americans who can’t afford to own a home or would just prefer to rent.”
Rotta has been involved in the BFR space for the majority of his career, most recently with Tricor Homes, a build-for-rent construction operator and builder. As Director of New Construction and Executive Vice President of Acquisitions, he oversaw the entire lifecycle of the firm’s build-for-rent program from land acquisition through vertical construction.
Previously, Rotta acted as a consultant to a wide variety of BFR investors and operators, assisting them with site planning, design, budgeting, scheduling, equity and debt, and financial modeling.
TruAmerica will focus on communities with townhomes ranging in size from 1,200 to 1,500 square feet and single-family homes between 1,800 to 2,200 square feet with rents affordable to working class American families.
“As we grow our investor fund business, our BFR platform will be yet another avenue for our existing LPs to invest in the TruAmerica brand,” said Noah Hochman, Co-Chief Investment Officer and Head of Capital Markets.