California Buyer Takes Fully Leased Warehouse in Plano

A mystery buyer purchased a fully leased warehouse at 780 Shiloh Road in Plano from Founders Properties.

The price for the 115,000-square-foot building wasn’t disclosed, but it was appraised for tax purposes this year at $13 million, according to the Collin Central Appraisal District.

Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber with CBRE National Partners represented the seller. The buyer is a private investor from California, according to a news release from CBRE.

The building, in Plano’s Research Technology Crossroads, is leased through 2030 to a single tenant, the release said. Property records show that Healthcare Service Corporation and Conduent Commercial Solutions have space in the building.

Evergen Equity recently purchased a 211,000-square-foot warehouse on the West Side of San Antonio, the San Antonio Business Journal reported. The price wasn’t disclosed, but the Austin-based firm took out a loan from Horizon Bank to buy the building at 5827 U.S. Highway 90. The property was valued for tax purposes this year at $6 million. Stream Realty Partners brokered the deal. Flasher Equipment Company leases 115,000 square feet of the building, and Evergen plans to renovate the other 96,000 square feet.

Stream Data Centers recently purchased land from McCombs Partners on San Antonio’s “wide open” Far West Side, the San Antonio Business Journal reported. The price wasn’t disclosed, and the size of the two parcels wasn’t reported. The land, on the west side of Loop 1604 at Military Drive West, was appraised for tax purposes this year at $11 million.

Rackspace Technologies has found a buyer for its former headquarters, a converted mall in a suburb of San Antonio. Ohio-based Industrial Commercial Properties is under contract on the 62-acre property, at Interstate 35 and Walzem Road in Windcres, the San Antonio Business Journal reported. It is the former Windsor Park Mall, which Rackspace converted to its headquarters in 2007. City officials are expecting the buyer to redevelop the property into a mix of retail and light industrial, the outlet reported. Rackspace moved into a smaller space last year.

A Spanish renewable energy manufacturing company has leased 166,000 square feet in Houston, about 10 miles from the George Bush International Airport, the Houston Chronicle reported. The U.S. division of Power Electronics took the Airtex Commerce Center, at 431 East Airtex Road, from Nuveen. Ben Condara, John Nicholson and Robyn Hurrell of Colliers represented the tenant. Brian Gammill, Darryl Noon and Craig Bean of Transwestern represented the landlord.

Applied Materials, a Silicon Valley-based semiconductor supplier, is finishing out 160,000 square feet in a Pflugerville industrial complex where it already has a presence, the Austin Business Journal reported. The company expects to spend $850,000 on interior finishes at 130 Crossing Park, at 3100 East Pecan Street. Applied Materials also leases a 170,000-square-foot warehouse in the same complex. Ironwood Realty Partners owns the complex, which is marketed by Stream.

Arenaman Development Company, a recently launched firm headed by industry veterans Josh Delk and Gabe Bruehl, recently received local approval for its first project, the Austin Business Journal reported. The $80 million, 500,000-square-foot project at Robert S. Light Boulevard and Farm to Market Road 967 in Buda is called Buda Gateway. Five spec warehouses are planned on 49 acres. Construction is expected to start next summer.