PROPLANT leased 2505 square feet at 616 FM 1960 in Houston, Texas. Trey Young with Young Capital Partners, LLC represented the tenant and Thomas Emde represented the landlord, Hartman Income REIT.
Category: Deals & Announcements
Stream Realty Partners Breaks Ground On 689,000-SF Infill Industrial Park Near San Antonio Airport
SAN ANTONIO – Aug. 29, 2022 – Stream Realty Partners has broken ground on five new industrial buildings on 45 acres directly across from San Antonio International Airport.
Stream, a national estate services, development, and investment company, aims to finish construction on Interpark Logistics Center in August 2023. The 689,215-square-foot development is bounded by U.S. 281, Wurzbach Parkway, West Avenue, and Interpark Boulevard. It will include five Class A office/warehouse buildings and five pad sites for future retail and commercial uses.
“This project represents one of the last true infill opportunities in San Antonio and is an ideal location for last-mile distribution users, showrooms, and warehouse companies needing a central location to service their customers, ” said Michael T. Kent, Executive Vice President of Stream San Antonio’s industrial team. “Warehouse companies want to be in the North Central part of San Antonio, but historically there were very limited availabilities. We were finally able to find a tract that has the necessary features for this type of business park.”
Interpark Logistics Center will feature five buildings ranging in size from 119,600 square feet to 155,475 square feet. Each structure will have a minimum of 24 dock doors with two drive-in ramps, 32-foot clear heights, 130-foot truck court depths, and Early Suppression, Fast Response (ESFR) sprinklers. Building details include:
· Building 1: 119,600 square feet, 24 dock doors, 49 trailer parking spaces, and 85 car parking spaces.
· Building 2: 155,475 square feet, 40 dock doors, 51 trailer parking spaces, and 223 car parking spaces.
· Building 3: 131,290 square feet, 24 dock doors, and 174 car parking spaces.
· Building 4: 131,290 square feet, 40 dock doors, six trailer parking spaces, and 206 car parking spaces.
· Building 5: 151,560 square feet, 26 dock doors, 19 trailer parking spaces, and 132 car parking spaces.
The business park will have eight points of entry that offer immediate access to Wurzbach Parkway and U.S. 281. It is 12 miles from Downtown San Antonio and within a 30-minute drive of a labor force with more than 2.1 million people.
Interpark Logistics Center is owned and overseen by Stream’s Investment Management Platform, which leverages expertise from Stream’s 14 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively owns 38 investments of 17.5 million square feet and approximately $2.2 billion in assets under management. Kent and Vice President Payton Rion will oversee leasing for Interpark Logistics Center. Stream San Antonio will also provide property management services at the project, adding to the firm’s more than 10-million-square-foot leasing and management portfolio. For leasing information, contact Stream San Antonio at 210.930.3700.
DSS Inc Renewed and Expanded to 3855 SF at 1400 Broadfield in Houston
DSS, Inc. renewed and expanded to 3855 square feet at 1400 Broadfield Blvd in Houston, Texas. Ami Figg represented the landlord, Hartman Income REIT
Poynter Commercial Properties | Energy Tower, 11700 Katy Frwy, Houston
(HOUSTON) – Poynter Commercial Properties Corp., the exclusive leasing agent for Energy Tower in Houston, and ATLAS ENERGY TOWER LLC, an affiliate of ATCAP PARTNERS announced today that 79,619 square feet of office space has been leased at the 14-story, 325,000-square-foot office tower located at 11700 Katy Freeway.
Kimley-Horn and Associates, Inc. inked an extension of their existing lease and expanded their presence in the Building, a transaction totaling 47,216 square feet. Kevin Poynter of Poynter Commercial Properties Corp represented the Landlord while Kris Knapstein and Drew Morris of Savills (Houston) represented the Tenant.
SK Lubricants Americas, Inc., SK Energy Americas, Inc., SK E&P Company, and SK GC Americas, Inc., extended their Energy Tower lease in a 23,624 square foot lease transaction. Kevin Poynter of Poynter Commercial Properties Corp represented the Landlord. The Tenant was represented by Jason Whittington of NAI Partners.
Raizen North America, Inc. signed a long-term 4,836 square foot lease transaction in the Building. Kevin Poynter of Poynter Commercial Properties Corp represented the Landlord, and representing the Tenant was Don King of JLL.
Spartan Group Holdings. leased 3,943 square feet in another recent transaction. Kevin Poynter of Poynter Commercial Properties Corp represented the Landlord while Hugh Herman of Cushman Wakefield represented the Tenant.
Poynter Commercial Properties Corp. is a privately-owned Houston-based real estate firm specializing in Development, Owner Representation, Tenant Representation, Property Management, Spatial Assessments, Construction Management, Market Analysis, Acquisition, Disposition, Geographic & Demographic Studies, and Feasibility Analysis. To learn more about Poynter Commercial Properties Corp. visit our website at www.pcptx.com.
Most New Units Since 1972: Developers Building Apt Units at Record-Setting Pace
A building boom. That’s what the U.S. apartment market is seeing this year, according to the latest research from Yardi Matrix.
In a report released in late August, Yardi Matrix said that construction crews will bring 420,000 new apartment units to the United States this year. That’s a 50-year high. According to Yardi, the last time apartment completions surpassed the 400,000-unit mark was in 1972.
And three Midwest markets are expected to rank among the busiest 20 major metropolitan areas this year when it comes to new apartment units: Nashville, Chicago and Minneapolis-St. Paul.
The New York metropolitan area is projected to deliver the most apartment units in 2022, beating out Dallas-Fort Worth for the top position for the first time since 2018. Overall, developers in half of the country’s top-20 metropolitan areas are now on an apartment building spree, with these metros expeced to hit their five-year highs in new multifamily construction this year.
“The construction industry is finally returning to pre-pandemic levels of activity but is still being hampered by three familiar challenges: labor shortages; material costs and availability; and supply chain issues,” said Doug Ressler, manager of business intelligence at Yardi Matrix, in a written statement.
What’s behind this construction boom? Yardi Matrix points to pent-up demand for multifamily units across the country. This demand has only risen as many renters hold off on buying homes as inflation and interest rates rise.
In the Midwest, Nashville ranks as the hottest market for new apartment construction. Yardi Matrix says that this Tennessee city will deliver 9,620 new aparment units in 2022, ranking it as the 13th busiest new-construction market.
Chicago will see 8,573 new apartment units by the end of this year. That places the city as the 16th busiest in terms of new multifamily construction. Expect 6,266 new apartment units in the Minneapolis-St. Paul market, making it the 19th busiest new-construction market in the country.
Texas, as usual, was well-represented. Yardi Matrix reported that the Dallas market will see 23,571 new apartment units in 2022, placing it second only to the New York metro market. Austin ranked fourth on Yardi Matrix’s list, with 18,288 new apartment units projected to be delivered here during the year, while Houston ranked fifth with an expected 17,759 new apartment units.
Yardi Matrix said that the Houston market will see the highest number of apartment completions that it has seen in the last five years. Austin climbed three positions on the Yardi Matrix list this year to inch past Houston.
Institutional Property Advisors Completes San Antonio Multifamily Asset Sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Pecan Springs, a 344-unit, stabilized asset in the Far Northwest submarket of San Antonio.
“Situated in a submarket that ranks the highest in the city in terms of rent growth, averaging 18.8% in 2021 while achieving 96.7% occupancy, Pecan Springs is prominently located just off Interstate 10 near the Loop 1604 intersection,” said IPA Executive Managing Director Will Balthrope. “This asset boasts strong historical performance, averaging 96% occupancy in the trailing 12 months while growing effective rents 13%.”
Balthrope and IPA’s Drew Garza represented the seller, American Landmark, and procured the buyer, StoneRiver Company.
“Pecan Springs’s proximity to leading entertainment and retail resources such as The Rim and The Shops at La Cantera, and major employment centers, made this an attractive asset to prospective buyers,” added Garza. “We held a highly competitive sales process for Pecan Springs as buyers gravitated to the continuous population and economic growth of the San Antonio submarket where 100,000 additional jobs are expected by 2025.”
Pecan Springs is a three-story, garden-style property built on 16 acres in 2013. The property has Hill Country views and a low-density site plan with mature oak trees and ample greenspace. Apartments have nine-foot ceilings, stainless-steel appliances and pendant lighting.