REBusinessOnline

Office Amenities Influence Talent Wars in Texas

Office buildings that have been newly constructed or recently rehabilitated are fielding the greatest demand from large companies, which are banking on the idea that lifestyle-enriching amenities and a vibrant surrounding neighborhood create advantages in attracting and retaining talent. According to the Bureau of Labor Statistics, during the 12-month period ending in July, the four major office markets of Texas added more than 200,000 new jobs combined. The state’s unemployment rate was …

CBRE Acquires San Antonio Real Estate Firm Reata

SAN ANTONIO — CBRE Group Inc. has acquired Reata Real Estate, a San Antonio-based full-service firm that focuses on retail, office, medical office and land transactions. Founded in 2001, Reata employs approximately 45 real estate professionals serving clients across Central and South Texas. In describing the acquisition, CBRE executives cited the opportunity to shore up its leasing, sales and managers services in the growing San Antonio

Colliers: Houston Adds 13 MSF of Industrial Product Year-to-Date

HOUSTON — The Houston industrial market has added approximately 13 million square feet of new industrial product year-to-date, including a supply increase of 4.1 million square feet in the third quarter alone, according to a new report from Colliers International. In addition, there are 150 buildings totaling 18.5 million square feet of space under construction that are expected to be delivered between now and the midpoint of 2020. Only 25 percent of the space under construction is preleased, …

Clark Contractors Completes Renovation of 506-Room Westin Dallas Fort Worth Airport Hotel

IRVING, TEXAS — Clark Contractors has completed the renovation of all 506 guestrooms at the Westin Dallas Fort Worth Airport Hotel in Irving, a project that also upgraded the property’s restaurant area, fitness center and other public spaces. Designed by C+TC Design Studio, the project also delivered a new, 2,955-square-foot club area for Marriott Bonvoy reward members. The hotel also offers a rooftop pool, in-room spa services, a breakfast buffet and an airport shuttle

Iberiabank Sells 32,090 SF Retail Building in Southeast Houston

HOUSTON — Iberiabank has sold a 32,090-square-foot retail building located at 9950 Kleckley Drive in southeast Houston. The property sits on a 147,668-square-foot lot with a 63,422-square-foot pad site. Robert Hantgan, Jenny Seckinger and Ace Schlameus of Colliers represented Iberiabank in the sale. Jake Scarborough of CB United represented the buyer, Living Christian Church, which is planning an expansion project on the

SLIB Arranges $3.4M Sale of Assisted Living Community in East Texas

HUNTSVILLE, TEXAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Lexington Center, a 40-unit assisted living facility in Huntsville, approximately 70 miles north of Houston. A local family owner-operator exiting the industry was the seller. An independent, Houston-based owner-operator bought the property for $3.4 million. The 35,686-square-foot community sits on 6.7 acres and was built in 2004. The Lexington Center’s occupancy rate was 83 percent at the time of …

Marcus & Millichap Brokers Sale of 175-Unit Apartment Community Near Fort Worth

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Tribecca Pointe, a 175-unit multifamily community in Hurst, located northeast of Fort Worth. Built in 1969, the property offers one-, two- and three-bedroom units and amenities such as a pool and a business center. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer, both of which were Dallas-based investment firms that requested

Denver Realty Group Buys 165-Unit Multifamily Portfolio Near Oklahoma City

NORMAN, OKLA. — Denver Realty Group has purchased Broadmoor 24 and Plaza 24, a two-property, 165-unit multifamily portfolio located in Norman, a southern suburb of Oklahoma City. Both properties were built around 1970 and feature one- and two-bedroom units as well as pools and onsite laundry facilities. The seller and sales price were not disclosed. With this acquisition, Denver Realty Group now has a portfolio of 768 residential units in

TDC Acquires Land in Downtown Austin for 147-Unit Multifamily Project

AUSTIN, TEXAS — Transwestern Development Co. has acquired land across the street from the newly renovated Austin Community College campus for the development of a new multifamily project. The new community will feature 147 micro apartments and 3,600 square feet of ground-floor retail space. Construction is scheduled to begin in summer 2020 and to be complete in 2022. TDC is also developing Block 36, a micro-unit community between East Third and East Fourth streets in downtown Austin. …

NAI Robert Lynn Arranges Sale of 68,676 SF Industrial Building in Metro Dallas

LEWISVILLE, TEXAS — NAI Robert Lynn has arranged the sale of a 68,676-square-foot industrial building in Lewisville, a northern suburb of Dallas. Ryan Lee and Jim Hancock of NAI Robert Lynn represented the undisclosed seller in the transaction. The buyer, SSC Properties LLC, will consolidate three of its existing locations into the

Conferences