In recent news, Lunada Rose Partners has acquired a 185,413-square-foot industrial property located at 13612 Furman Road in Houston, TX. The transaction was completed with an all-cash deal for an undisclosed final purchase price. However, the initial asking price for the property was $21.85 million. Empire Auto Parts is currently occupying the space and has signed a long-term lease as part of their expansion into the Texas market.
Shorenstein Investment Advisers also made headlines by acquiring International Plaza II in Dallas’ Lower Tollway submarket. This Class A office building spans 15 stories and covers 388,000 square feet of space that recently underwent significant redevelopment including nearly 50,000 square feet of new amenity space such as a full-floor food hall and coffee/wine bar.
MYCON General Contractors Inc., known as MYCON to many industry professionals began construction on U-Haul’s newest storage facility in Haltom City,Texas marking their eighth project with North America’s largest do-it-yourself moving and self-storage operator.U-Haul will offer approximately1 ,600 storage units ranging from various sizes at this location.
JLL Capital Markets announced they have successfully closed on Firewheel Town Village,a senior housing community consisting of154 units locatedin Garland,Texas.The seller,Clearworth Capitalwas represented by JLL while Equity Partnership Holdings procuredthe buyer.Built-in2018,the community offers studio one-,and two-bedroom unitsand boastsa current occupancy rateof98 .1%.
Westdale Real Estate Investment & Management based outofDallasrecently revealed plansfortheir distressed debt partnership fund called WestdaleCapital.This$500millionfundwill be usedto acquire real estate assetsimpactedbythe current economic climateas well asto purchasenon-performing loansfrom banksseeking liquidityand solutions to classified loans.
