Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.
Issue link: https://texasrealestatebusiness.epubxp.com/i/817755
A U S T I N & C E N T R A L T E X A S 18 • May 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 MARCUS & MILLICHAP BROKERS SALE OF 11-UNIT APARTMENT COMPLEX SAN ANTONIO — Marcus & Millic- hap has brokered the sale of Andrews Apartments, an 11-unit complex locat- ed at 219 Andrews St. in San Antonio. The property recently underwent reno- vations to improve its roofing, flooring and windows. Mark Diebold of Mar- cus & Millichap marketed the property on behalf of the seller, a limited liability company. The name and representa- tive of the buyer were not disclosed. GBT TO DEVELOP 12,600 SF RETAIL CENTER SAN ANTONIO — GBT Realty Corp. has acquired a one-acre site in San Antonio for the development of South Park Commons, a 12,600-square-foot retail center. GBT purchased the prop- erty from Target for $925,000 on Feb. 21. The site is adjacent to Target's SW Military Drive storefront in San Anto- nio. Construction on the center is un- derway with tenants expected to open in November. South Park Commons is currently 70 percent pre-leased to na- tional names including AT&T;, Aspen Dental, Firehouse Subs and GNC. HOME2 SUITES OPENS 99-SUITE HOTEL MCALLEN, TEXAS — Home2 Suites by Hilton has opened a 99-suite loca- tion in McAllen, a city in south Texas near the Mexico border. Amenities include a combined laundry and fit- ness area, outdoor pool and meeting/ event space that can accommodate up to 100 guests. Perspective Hospitality Management Services will manage the property, which is located at 525 S. Ware Road, approximately three miles from McAllen-Miller International Airport. CBRE ARRANGES 147,840 SF INDUSTRIAL LEASE SAN ANTONIO — CBRE has nego- tiated a 147,840-square-foot lease at Interchange East Distribution Center, an industrial property located at 5050 Stout Drive in San Antonio. Southern Warehousing and Distribution will occupy the leased space at the facil- ity, which offers parking and a fenced truck court, 22-foot clear height and a sprinkler system. Josh Aguilar and Rob Burlingame of CBRE represented the landlord, Prologis, in the transac- tion. THREE FIRMS BEGIN CONSTRUCTION OF 460,000 SF OFFICE TOWER SAN ANTONIO — Weston Urban, KDC and TRT Holdings Inc. have broken ground on Frost Tower, a 460,000-square-foot, Class A office property on Houston Street in down- town San Antonio. The 23-story build- ing will consist of 430,000 square feet of office space, a 400,000-square-foot wraparound parking facility, 20,000 square feet of ground-floor retail space and 10,000 square feet of ten- ant amenity space, which includes a lounge and a fitness center. Clark Construction Group LLC is the gen- eral contractor for the project, which is slated for a 2019 completion. JLL BROKERS SALE OF 224-UNIT APARTMENT COMPLEX CORPUS CHRISTI, TEXAS — JLL has brokered the sale of Sunchase Apart- ments, a 224-unit, garden-style apart- ment complex located at 5445 S. Al- ameda St. in Corpus Christi. Raybec Alameda LLC purchased the proper- ty, which features a pool, fitness center and an on-site laundry facility. Scott LaMontagne, Moses Siller and Zar Haro of JLL represented the seller, F1S Sunchase Associates LLC in the trans- action. The sale includes the 9.2 acres on which the complex is situated. DOUGHERTY SECURES $16.5 MILLION LOAN FOR APARTMENT COMPLEX SAN ANTONIO — Dougherty Mort- gage LLC, a Minnesota-based mort- gage broker, has secured a $16.5 million Fannie Mae loan for the acqui- sition of Parc 410 Apartment Homes, a 344-unit multifamily property lo- cated at 5927 N.W. Loop 410 on San Antonio's northwestern side. Prop- erty amenities include two pools, tennis and basketball courts, fitness center and a gated dog park. The 12- year loan, which features a 30-year amortization schedule, was arranged through a partnership with Old Capi- If you're a broker that has what it takes to be the best and you're not an SIOR, let's talk. www.SIOR.com 3164 . . . Out of some 2,000,000 real estate licenses in the U.S., and even more abroad, an elite few have earned the highest designation in the industry: The Society of Industrial and Office Realtors. SIOR Reserved for today's most experienced brokers Hire an SIOR today and access the most trusted resource in commercial real estate