Texas Real Estate Business

OCT 2017

Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.

Issue link: http://texasrealestatebusiness.epubxp.com/i/885420

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Page 24 of 58

A U S T I N & C E N T R A L T E X A S 22 • October 2017 • Texas Real Estate Business www.REBusinessOnline.com S A N A N T O N I O & S O U T H T E X A S LIDL BUYS 5.2 ACRES FOR 30,000 SF GROCERY STORE SAN ANTONIO — German discount grocery chain Lidl has purchased a 5.2-acre site at the intersection of Ala- mo Ranch and Lone Star parkways in San Antonio for the development of a 30,000-square-foot location. Construc- tion of the property is expected to begin during the fourth quarter and wrap up during the third quarter of 2018. Gene Williams of CBRE repre- sented the seller, Abiso Development, in the land sale. Gensler will serve as the project architect and Metropolitan Contracting as the general contractor. The store will be Lidl's first location in the San Antonio area. CASEY DEVELOPMENT BREAKS GROUND ON 77,000 SF SELF-STORAGE FACILITY SAN ANTONIO — Casey Develop- ment Ltd. has broken ground on The Keep Storage, a 77,000-square-foot self-storage facility located just south of Thousand Oaks Drive and Hender- son Pass in San Antonio. The Class A property will feature 500 climate-con- trolled units totaling more than 55,000 square feet of net rentable space. Arch- con Architecture designed the project. Capco Construction, the project's gen- eral contractor, expects to deliver the facility in May 2018. JLL NEGOTIATES SALE OF 202-UNIT APARTMENT COMPLEX SAN ANTONIO — JLL has negotiat- ed the sale of The Parker Apartment Homes, a 202-unit multifamily prop- erty located at 6600 Fairdale Drive in San Antonio. Amenities include a pool, dog park, business center and on-site laundry services. Scott LaMon- tagne, Moses Siller and Zar Haro of JLL represented the seller, Forge Part- ners, in the transaction. An Austin- based private investor purchased the asset for an undisclosed price. DOUGHERTY CLOSES $10.3 MILLION ACQUISITION LOAN FOR 168-UNIT APARTMENT COMMUNITY SAN ANTONIO — Dougherty Mort- gage LLC has closed a $10.3 million Fannie Mae loan for the acquisition of Fox Run Apartments, a 168-unit multifamily community located at 10014 Broadway St. in San Antonio. The loan features a 12-year term, five years of interest-only payments and a 30-year amortization schedule. Old Capital Lending provided the loan for the borrower, FMREI Broadway 10014 LLC. STERLING ORGANIZATION SELLS 103,000 SF SHOPPING CENTER FOR $21.9 MILLION SAN ANTONIO — Sterling Organi- zation, a Palm Beach, Fla.-based pri- vate equity firm, has sold Grandview Shopping Center, a 103,000-square- foot shopping center in San Anto- nio, for $21.9 million. Anchored by Sprouts Farmers Market, the property is located along Interstate 10 at Cal- laghan Road, just north of the Loop 410 interchange. The company origi- nally acquired the asset in 2012 for roughly $11.1 million. The buyer was not disclosed. GREYSTAR NEARS COMPLETION OF 143-UNIT SENIORS DEVELOPMENT SAN ANTONIO — Greystar is near- ing completion of construction of Overture at Stone Oak, a 143-unit, 55-and-older community in San An- tonio. Designed by Meeks + Partners, the property offers one- and two-bed- room units ranging in size from 725 to 1,225 square feet and includes 185 parking spaces for staff and residents. Amenities include a hair and nail spa, café and lounge and a media room. SIEGEL GROUP ACQUIRES 80,000 SF HOTEL FOR $3.3 MILLION SAN ANTONIO — Siegel Group, a Las Vegas-based investment and hos- pitality firm, has acquired the former Budget Lodge Extended Stay Hotel in San Antonio for $3.3 million. Built in 1963 and situated on 6.6 acres along Interstate 35, the two-story property totals approximately 80,000 square feet. Siegel Group plans to repurpose some of the existing space to include a restaurant and lounge, as well as a conference and banquet area. 2290 W Pike #100 Weslaco, TX 78596 602 Boerne Stage Airfield Boerne, TX 78006 info@davis equity.com Rio Grande Va l ley 956-969-8648 San Antonio 210-338-8000 *Our major success in the Rio Grande Valley was facilitated by our relationship with you and your firm. Not only did we have an excellent broker/ client relationship we became good friends as well. Dale, Randy and the Davis Equity Team always put their representation of us first and foremost. No one could have been more professional." Chris Job, Shamrock Ventures, Houston, TX Service Focused Not Commission Focused South Texas Most Experienced Commercial Real Estate Specialists • Project Development • Commercial Property Management • Service Minded LEASING • Shopping Centers • Office • Medical • Industrial SALES Commercial • Retail Pad Sites • Land DEVELOPMENT • Development Services • Site Selection • Acquisition • Construction • Leasing • Management BROK ERAGE • Retail • Industrial • Investment • Owner/Tenant Representation

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