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People & Company News, January 3, 2025
- CBRE brokered the sale of Baybrook Passage, an 189,334-square-foot shopping center at 19425 Gulf Freeway in Webster, Texas. Mark Witcher, Jolie Duhon, Chris Cozby, Jim Batjer and Harrison Tye with CBRE National Retail Partners arranged the transaction on behalf of the seller, Gulf Coast Commercial Group. The buyer, SLS Properties was self-represented. The shopping center was built in 2003 and is anchored by Best Buy and Staples. The property was 97.2% occupied by 29 tenants with an average tenure of 18 years.
- JLL Capital Markets completed the sale of 301 Trenton Road, a recently delivered, 771-unit, Class-A self-storage facility in McAllen, Texas. JLL’s Self Storage Capital Markets team represented the seller, Bakke Development Corporation and Batson-Cook Development Company (BCDC), and procured the buyer, Reframe Holdings. 301 Trenton Rd., opened in 2023, is a fully climate-controlled facility with 85,755 square feet of storage space.
- The Rainier Companies announced the disposition of San Antonio Crossing, a 145,8119-square-foot Class A regional shopping center in San Antonio, Texas. Rainier purchased the center in 2019 as part of its grocery-anchored retail strategy. The center is at the intersection of Bandera Road and Loop 1604. HEB Plus is the property’s grocery anchor, and other national credit tenants include Academy Sports + Outdoors and Burlington Coat Factory.
- Lewisville-based MCS closed a $112 million refinancing. The funding provided by Ally Bank provides an additional M&A funding source and increased access to capital to allow the Company to execute its acquisition strategy while also supporting the Company’s ongoing operational and organic growth initiatives. MCS’s Craig Torrance added, Enhancing our access to additional committed capital will allow us to take advantage of new opportunities in the property services sector and support our national service footprint across residential, commercial, government and mortgage services.”
- Woodside Health acquired three medical office buildings in the Houston MSA: Conroe Medical Arts Center, Kingwood Executive Center, and Texas Children’s Medical Building. A joint venture arrangement was between Woodside Health and Heitman. The assets combine for 122,000 rentable square feet with numerous healthcare system practices.
- ◦Sale/Acquisition
