Category: Deals & Announcements

Sale of northwest Austin multi-housing community closes 

Posted on by Mia Goulart

JLL Capital Markets has arranged the sale of Caliza, a 270-unit, Class A, garden-style apartment community in the northwest Austin suburb of Cedar Park, Texas.

JLL worked on behalf of the seller, Internacional Realty, and Virtus Real Estate Capital acquired the asset.

Built in 2020, Caliza features one-, two- and three-bedroom units with modern finishes, wood-style flooring, custom cabinetry, stainless steel appliances, LED lighting, 14-foot ceilings, private yards and direct access garages. The property features a best-in-class amenity package, including a recently renovated resort-style swimming pool, expansive fitness center and group exercise room, outdoor pavilion with an exterior fireplace and a clubhouse with a catering kitchen.

Situated at 12638 Ridgeline Blvd., the property is within proximity to several highly regarded neighborhoods, such as Anderson Mill, Cypress Mill and Avery Ranch, and is surrounded by some of the city’s most prominent economic drivers, including Austin’s premier mixed-use hub, The Domain and Dell Technology’s campus. The community provides residents with access throughout the metroplex via Highway 183 and Highway 45 and is just six minutes from Westwood High School, one of Austin’s premier high schools known for top-rated academics. Additionally, Caliza is a short drive from Lake Travis.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Ryan McBride and Robert Arzola.

Silver Star sells 734,000-square-foot warehouse facility in Houston

Posted on by Mia Goulart

Silver Star Properties REIT, Inc. (Silver Star Properties), formerly known as Hartman Short Term Income Properties XX, Inc. announces the disposition of its industrial warehouse facility located at 2300 Quitman St. in Houston, Texas. The property was sold to a nationally focused real estate development and investment platform.

The 734,000-square-foot property was initially purchased by Silver Star Properties in 1998. Built in 1920, the property has experienced many uses because of its proximity to Downtown Houston and the Port of Houston. It’s easy access to Houston’s major freeways, also noting it a primely located facility. It has played an important role in the Company’s industrial portfolio with much of its rental revenue generated from its anchor tenants, Liberty Tire Recycling, LLC and Sunbelt Warehouse, LLC.

As the sale was marketed, and at the discretion of the buyer, the value-add facility and its property have the potential for redevelopment or tenant lease continuations as the property is fully occupied.

Partners Real Estate arranges 2,400-square-foot retail lease at North Oaks Shopping Center in Houston

Posted on by Mia Goulart

Partners arranged a 2,400-square-foot retail lease for Chipotle at North Oaks Shopping Center located at 4613 Farm to Market 1960 Road in Houston.

Partners’ Taki Dallis represented the landlord in the transaction.

Partners Real Estate arranges lease with Monarch Power Supply near Houston

Posted on by Mia Goulart

Partners Real Estate, one of the largest independent commercial real estate firms in Texas, recently arranged a 24,500-square-foot lease with Monarch Power Supply located at 12010 FM 529 in Jersey Village.

Partners’ Shaffer Braun represented the tenant in the transaction. The landlord, William T. White, III was represented by Ed Franz of CBRE.

TradeLane Properties closes on five-building industrial portfolio across San Antonio

Posted on by Mia Goulart

TradeLane Properties, a privately held Industrial real estate investment company, has successfully closed on a five-building light industrial portfolio totaling 631,000 square feet across the San Antonio, Texas. Acquired within the TradeLane Properties U.S.

Industrial Fund II, L.P., a value-add investment fund focused on key Central U.S. logistics markets, the portfolio was constructed in 2005-2006 and was 100% leased at closing to eleven diverse customers.

The transaction, with an average building size of 126,200 square feet and a weighted average remaining lease term of under four years, is consistent with TradeLane Properties’ strategy of investing in select major Central U.S. logistics markets with opportunity to add value through in-house capabilities inclusive of dedicated accounting, construction, and property management teams.

TradeLane Properties would like to thank Trent Agnew and the JLL Capital Markets team for their assistance in this transaction.

Glenstar completes multimillion-dollar office redevelopment and expansion at 20-story Premier Place in Dallas

Posted on by Mia Goulart

Chicago-based Glenstar Properties has completed its multimillion-dollar redevelopment of Premier Place, a 20-story, 457,900-square-foot Class A office building at 5910 N. Central Expressway in Dallas.

The project included the addition of 3,000 square feet of new space for an indoor/outdoor tenant lounge that features a coffee and cocktail bar, the expansion of the lobby and the renovation of a large conference room available to tenants.

A major part of the redevelopment was building an addition for the new lounge. Glenstar extended the building’s curtainwall on the east side of the building to enclose the new addition that opens to the redesigned courtyard.

The lounge’s high ceilings and floor-to-ceiling windows create an open, airy environment. Sofas and armchairs are arranged to provide multiple conversation areas, and large-screen TVs and a shuffleboard table offer entertainment options. The lounge flows into an outdoor area with tables and chairs and a patio sectional facing a built-in fireplace, all under a modern pergola.

The redevelopment is propelling occupancy at Premier Place, which is home to anchor tenants Merrill Lynch, AmWins and LifeTime, a fitness center occupying 62,000 square feet on the sixth and seventh levels of the garage. Five new tenants have signed leases since the completion of the redevelopment.

The redevelopment also included renovation of the second-floor conference room, which can accommodate 20-plus people. Audiovisual equipment and high-speed internet connections are provided for videos or presentations.

The redevelopment project began in late 2021 with Wright Heerema Architects serving as project architect, Glenstar as construction manager, and Scott & Reid as general contractor. Glenstar is the building’s property manager.

Built in 1985, Premier Place is located along U.S. Highway 75, just over one mile from Downtown Dallas, adjacent to SMU, Mockingbird Station, DART and The Katy Trail. Glenstar’s office portfolio in Dallas totals 2.7 million square feet, which includes Premier Place; Energy Square and the Meadows Building, a five-building, 1.1-million-square-foot office campus; and The Terraces, a 1.2-million-square-foot office campus of eight Class A buildings on 72 acres in Westlake, Texas.