CBRE facilitated the sale of Baybrook Passage, a 189,334-square-foot shopping center located at 19425 Gulf Freeway in Webster, Texas. The transaction was arranged by Mark Witcher, Jolie Duhon, Chris Cozby, Jim Batjer and Harrison Tye of CBRE National Retail Partners on behalf of the seller Gulf Coast Commercial Group. SLS Properties represented themselves as the buyer. Built in 2003 and anchored by Best Buy and Staples, the shopping center boasted a high occupancy rate of 97.2% with an average tenant tenure of 18 years.
JLL Capital Markets successfully closed on the sale for Bakke Development Corporation and Batson-Cook Development Company (BCDC) for their recently completed Class-A self-storage facility located at301 Trenton Road in McAllen,Texas.The property consistsof771unitsand is fully climate-controlled with85 ,755 square feetof storage space.
The Rainier Companies announced that they have sold San Antonio Crossing,a145 ,8119 -square-foot regional shopping centerinSan Antonio,Texas.This property was acquired by Rainier as partoftheir grocery-anchored retail strategyin2019.ItislocatedattheintersectionofBanderaRoadandLoop1604,and features HEB Plusasitsgroceryanchor.Other national credit tenants include Academy Sports + Outdoorsand Burlington Coat Factory.
MCS based out Lewisville has secured $112 million refinancing from Ally Bank to support their acquisition strategy while also providing capitalfor ongoing operational growth initiatives.Craig Torrance from MCS statedthat this additional funding will allow themto expand into new opportunities withintheproperty services sectorwhile supporting their national service footprint across residential commercial,government,and mortgage services sectors .
Woodside Health has entered into ajoint venture arrangementwith Heitman to acquire three medical office buildings within Houston MSA.These properties include Conroe Medical Arts Center,Kingswood Executive Center,and Texas Children’s Medical Building, totaling 122,000 rentable square feet with a variety of healthcare system practices.
