Property Type

Lakeside-International-Office-Center-Flower-Mound-Texas

Realty Capital, Staubach Break Ground on 138,000 SF Office Project in Metro Dallas

by Taylor Williams July 19, 2019

FLOWER MOUND, TEXAS — A partnership between Irving-based Realty Capital and Dallas-based Staubach Capital has broken ground on Lakeside International Office Center, a 138,000-square-foot office project in the northern metroplex city of Flower Mound. The project will consist of a 120,000-square-foot building and an 18,000-square-foot building with amenities such as a tenant lounge, coffee bar and a trail system connecting to the nearby Shops at Lakeside. IntelliCentrics, a healthcare credentialing firm, has signed a 30,000-square-foot lease to become the property’s inaugural tenant. JLL’s Doug Carignan represented the tenant in the lease negotiations. BOKA Powell is the project architect, and Muckleroy & Falls is the general contractor. Completion is slated for the third quarter of 2020. JLL’s Cannon Camp and Chris Doggett will lead the marketing and leasing efforts for the property. Staubach Capital provided the equity financing, and First United Bank is providing the debt financing for the project.

July 19, 2019

Acquisitions Retail Texas

Disney Investment Group Arranges $17M Sale of Irving Shopping Center

by Taylor Williams July 19, 2019

IRVING, TEXAS — Dallas-based Disney Investment Group has arranged the $17 million sale of Towne North, a 124,289-square-foot shopping center in Irving. Anchored by El Rancho Supermarket, the property was 84 percent leased at the time of sale. David Disney and Adam Crockett of Disney Investment Group represented the seller, an entity controlled by HSM Equities, and procured the undisclosed buyer.

July 19, 2019

Acquisitions Retail Texas

CBRE Brokers Sale of 91,653 SF Retail Property in Bartlesville, Oklahoma

by Taylor Williams July 19, 2019

BARTLESVILLE, OKLA. — CBRE has brokered the sale of a 91,653-square-foot retail property located at 501 SE Washington Blvd. in Bartlesville, located north of Tulsa. Stuart Graham, Mark Inman and Kendra Roberts of CBRE represented the seller, BB2S Bartlesville LLC, in the transaction. The buyer, ECTS LLC, acquired the asset for approximately $2.5 million.

July 19, 2019

Leasing Activity Retail Texas

Dallas Cowboys to Open 20,000 SF Gym in AT&T Discovery District in Downtown Area

by Taylor Williams July 19, 2019

DALLAS — The Dallas Cowboys, in partnership with global fitness center developer Mark Mastrov, will open a 20,000-square-foot Cowboys Fit gymnasium at the AT&T Discovery District in downtown Dallas. Club members can enjoy a range of boutique fitness classes, including yoga and barre, as well as access to customized fitness plans and Cowboys merchandise. The opening is slated for this winter.

July 19, 2019

Leasing Activity Office Texas

Oilfield Testing Firm Signs 14,800 SF Office, Lab Lease in Metro Houston

by Taylor Williams July 19, 2019

KATY, TEXAS — Oilfield Testing & Consulting (OTC) has signed a 14,800-square-foot office and lab lease at Grandway West, an 85-acre development in Katy, a western suburb of Houston. Jordan Raney and David Buescher of JLL represented OTC in the lease negotiations. Rives Nolen, John Stavinoha and Steve Hazel of Insite Realty represented the landlord, Urban Cos.

July 19, 2019

650-700-Pacific-Coast-Highway-El-Segundo-CA

Acquisitions California Office Western

Vella Group Acquires Boeing-Leased Office Asset Near Los Angeles for $50.8M

by Amy Works July 19, 2019

EL SEGUNDO, CALIF. — New York-based Vella Group has purchased a two-building office campus, located at 650 and 700 Pacific Coast Highway in El Segundo. A private family tenant-in-common sold the asset for $50.8 million. The eight-story property at 650 Pacific Coast Highway, built in 1962, features 121,484 square feet. The two-story building at 700 Pacific Coast Highway features 78,736 square feet. The site also includes 422 surface parking spaces. Boeing will occupy the entire 200,220-square-foot office campus through the end of 2020. Kevin Shannon, Ken White and Michael Moore of Newmark Knight Frank, along with Bill Bloodgood of CBRE, represented the seller, while Antony Arkle of Rodeo Realty represented the buyer in the transaction.

July 19, 2019

Development Multifamily South Carolina Southeast

Madison Capital Breaks Ground on Apartment Complex Within Opportunity Zone in Downtown Charleston

by Alex Tostado July 19, 2019

CHARLESTON, S.C. — Madison Capital Group has broken ground on 577 Meeting Street, a 118-unit apartment complex within an Opportunity Zone in downtown Charleston. Madison Capital expects the project to deliver in early 2021. 577 Meeting Street will offer studio and one-bedroom floor plans. Patterson Real Estate Advisory Group arranged construction financing through CIBC Bank USA on behalf of Madison Capital, which is also raising equity for the project through a single-asset Opportunity Zone Fund. This is Madison Capital’s eighth multifamily development in Charleston.

July 19, 2019

Acquisitions Oregon Retail Western

Overbay Development Co. Sells Wagner Mall, Pinebrook Plaza in Bend, Oregon

by Amy Works July 19, 2019

BEND, ORE. — Overbay Development Co. has completed the disposition of Wagner Mall and Pinebrook Plaza, two shopping centers located in Bend. Western Pacific Holdings acquired the both assets for an undisclosed price. Located at 1800 NE Third St., Wagner Mall features 108,818 square feet of retail space, including Albertsons, Rite Aid and Aaron’s as tenants. The Wagner Mall sale include the mall, large box spaces and the surrounding pad sites, totaling 9.35 acres. Located at 61155 Highway 97, the 59,509-square-foot Pinebrook Plaza is currently home to Albertsons and other retailers. Totaling 5.97 acres, the Pinebrook Plaza sale included the main building and a standalone Shari’s restaurant. Pat Kesgard and Kristie Schmitt of Compass Commercial Real Estate Services, along with John Keba and Holley Jensen of Compass Commercial Asset & Property Management, represented the seller. Russell Huntamer and Tom Standish, also of Compass Commercial Real Estate Services, represented the buyer in the transactions.

July 19, 2019

California Loans Multifamily Seniors Housing Western

NorthMarq Arranges $7.6M Refinancing for Seawind Seniors Apartments in Oxnard, California

by Amy Works July 19, 2019

OXNARD, CALIF. — NorthMarq has arranged $7.6 million in financing for Seawind Seniors Apartments, an age-restricted community in Oxnard, approximately 65 miles west of Los Angeles. The property features 101 units restricted to residents over age 55. The apartments are marketed as affordable. Marty Meagher and Gardiner Champlin of NorthMarq’s San Diego office arranged the fixed-rate, Fannie Mae loan with a 10-year, interest-only term. The financing pays off existing bonds.

July 19, 2019

Acquisitions Multifamily South Carolina Southeast

FCP, High Real Estate Sell Multifamily Community in Charleston for $36.1M

by Alex Tostado July 19, 2019

CHARLESTON, S.C. — FCP and High Real Estate Group have sold Plantation Oaks, a 264-unit multifamily community in Charleston, for $36.1 million. New York-based White Eagle Property Group acquired the property. In July 2015, FCP recapitalized the property and became partners with High Real Estate for Plantation Oaks, as well as a property in Charlotte that also sold to White Eagle. Plantation Oaks offers one- and two-bedroom floor plans and communal amenities including a bark park, pet spa, 24-hour health club, residential clubhouse, car care center, boat parking, fitness center and a saltwater swimming pool. Alex Okulski and Anthony Rotunda of Newmark Knight Frank represented the sellers in the transaction.

July 19, 2019

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