Property Type

Talos Holdings to Develop 300-Unit Apartment Community in Fort Worth

by Taylor Williams August 7, 2017

FORT WORTH, TEXAS — Talos Holdings will develop The View of Fort Worth, a 300-unit multifamily community located along Northside Drive near Interstate 35 in Fort Worth. Amenities will include a pool, fitness center, game room and pet park. Construction is expected to begin this month with the first units ready for occupancy by late 2018. CBG Building Co. will serve as general contractor for the project, which was designed by Dallas-based BGO Architects and could ultimately feature a second, 200-unit phase of construction. Justin Shuart, Jason Pumpelly and Brian Park of Cushman & Wakefield arranged construction financing for the project through Endeavor Real Estate Partners.

August 7, 2017

Partnership Acquires 423,411 SF Medical Office Portfolio in San Antonio

by Taylor Williams August 7, 2017

SAN ANTONIO — A partnership between Artemis Real Estate Partners, Ackerman & Co. and MLL Capital has purchased a four-building portfolio of medical office properties totaling 423,411 square feet in San Antonio. The 128,578-square-foot Santa Rosa Professional Pavilion and the 123,324-square-foot Rosa Verde Tower are located in the city’s CBD and Northwest Towers I and II, which total 171,509 square feet, are located within the South Texas Medical Center. Lee Asher, Chris Bodnar and Scott Herbold of CBRE represented the undisclosed seller in the transaction. Ed Cross and Brent Smith of Cushman & Wakefield represented the buyer. The new ownership will invest $27 million in renovations to the portfolio.

August 7, 2017

Office Texas

Kaizen Breaks Ground on 145,000 SF NETSCOUT Building in Allen

by Taylor Williams August 7, 2017

ALLEN, TEXAS — Kaizen Development Partners has broken ground on a 145,000-square-foot office facility within the One Bethany at Watters Creek development in Allen for Massachusetts-based tech firm NETSCOUT Systems Inc. During the summer of 2018, NETSCOUT will relocate more than 500 employees to the Class A property, which will serve as its regional research and development office. Balfour Beatty is serving as general contractor on the project, which was designed by BOKA Powell.

August 7, 2017

Healthcare Texas

TierOne Breaks Ground on 38,600 SF Medical Office Building in Metro Houston

by Taylor Williams August 7, 2017

SUGAR LAND, TEXAS — TierOne Development has broken ground on a 38,600-square-foot medical office property at 7619 Branford Place in the Houston metro of Sugar Land. Slated for a second-quarter 2018 completion, the Class A building is being developed on a speculative basis. Tim Gregory and Ashley Cassel of Transwestern’s Healthcare Advisory Services team will handle leasing of the property.

August 7, 2017

Industrial Texas

Boyd Commercial Secures 30,870 SF Industrial Lease in Houston

by Taylor Williams August 7, 2017

HOUSTON — Boyd Commercial has secured a 30,870-square-foot industrial lease at 3801 Yale St. in Houston on behalf of Petro Valve Inc., a Houston-based producer and distributor of valves. Clay Peeples of Boyd Commercial represented the tenant in the lease negotiations. Greg Barra, also of Boyd Commercial, represented the landlord, FR AZ/TX LLC.

August 7, 2017

Florida Market Reports Office Southeast Southeast Market Reports

Miami Office Market Thrives Due to Young Workers Seeking South Florida Lifestyle

by John Nelson August 7, 2017

Looking ahead to the rest of 2017, we can expect to see continued improvement of Miami’s office market based on strong market fundamentals and employment growth. Key trends to watch in 2017 that will help drive and shape the market, include: • Steady, modest growth in office rents • Declining available office supply • New transit-oriented mixed-use developments that include office space in both Miami’s downtown urban core and other connected walkable neighborhoods such as Coconut Grove, Coral Gables and Wynwood • Tenants adopting new office design standards • Increased moves between submarkets and new-to-market companies positively impacting net absorption Office demand will continue to be fueled by vibrant population growth of young professionals and Miami’s appeal as a growing, global and entrepreneurial city. Miami-Dade County’s population has grown 8 percent in the past five years, making it the seventh-largest county in the United States. In 2016, more than 20,000 jobs were added in the county, predominately in the construction, real estate, professional services and financial services industries. This economic growth has fueled expansion activity in the office market and should hold steady in 2017. Miami’s focus on cultivating innovation and entrepreneurship has also positively impacted the office market. In …

August 7, 2017

Retail Top Stories Utah Western

Brixton Capital to Invest $80M to Reposition Provo Towne Center

by Taylor Williams August 7, 2017

PROVO, UTAH — California-based real estate investment firm Brixton Capital will invest approximately $80 million in the repositioning of Provo Towne Center, an 800,000-square-foot mall in Provo, located about 45 miles south of Salt Lake City. The project will transform the existing retail space into a mixed-use asset. New areas include a 30,000-square-foot dining district and two 6,000-square-foot restaurant spaces, as well as a 100,000-square-foot office tower and 200 residential units. Other features will include an outdoor park and a 50,000-square-foot space for an anchor tenant. According to Brixton Capital, which acquired the mall in 2016, the repositioning project represents a shift toward more entertainment- and experience-driven retail. “Our plans for Provo Towne Center have been met with excitement, renewed interest and many positive comments from the entire community,” says Travis King, CEO of Brixton Capital. Phase I of construction is already underway and will deliver a 100-room Marriott Residence Inn that will open next summer. Additional phases are scheduled to begin in early 2018. Provo Towne Center is located at 1200 Towne Centre Blvd., along the Interstate 15 corridor, roughly 2.5 miles from Brigham Young University. Approximately 65,000 students live or attend classes within a five-mile radius of the …

August 7, 2017

Restaurant Retail Texas

Schulman Theatres to Develop 74,000 SF Entertainment Center in Metro Dallas

by Taylor Williams August 4, 2017

TERRELL, TEXAS — Schulman Theatres will develop Film Alley Movie Entertainment Center, a 74,000-square-foot facility that will be located at the corner of Interstate 20 and FM 148 in Terrell, a city approximately 30 miles east of Dallas. The center will feature eight auditoriums, 24 bowling lanes, a 4,500-square-foot arcade and a bar and restaurant. Film Alley will be situated within the 255-acre, master-planned Crossroads at Terrell development. Construction on the property’s infrastructure began in June. The center is scheduled to open in September 2018.

August 4, 2017

Industrial Texas

TA Realty Sells Three-Building, 101,635 SF Industrial Portfolio in Houston

by Taylor Williams August 4, 2017

HOUSTON — Boston-based investment firm TA Realty has sold a three-building, 101,635-square-foot portfolio of industrial properties in Houston to ATCAP Partners for an undisclosed price. The portfolio, which is 100 percent leased, consists of 3300 Claymoore Park in Houston’s Northwest industrial submarket, and 9362 Wallisville Road and 9366 Wallisville Road in the Northeast submarket. Rusty Tamlyn and Trent Agnew of HFF represented TA Realty in the transaction.

August 4, 2017

Industrial Texas

Lee & Associates Negotiates 115,000 SF Industrial Lease in Dallas

by Taylor Williams August 4, 2017

DALLAS — Lee & Associates has negotiated a 115,000-square-foot industrial lease at 3912 W. Illinois Ave. in Dallas on behalf of Erect-A-Line Inc., a Dallas-based paving company. Nathan Denton and Corbin Blount of Lee & Associates represented the tenant in the lease negotiations, and Ken Wesson and Christine Vasily, also of Lee & Associates, represented the landlord, Illinois Capital Partners. Erect-A-Line plans to relocate from its current 36,000-square-foot facility to its new space in February 2018. The transaction is the largest industrial lease inked in the Oak Cliff submarket this year

August 4, 2017

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