Texas

Lincoln Rackhouse, Principal Acquire 454,421 SF Data Center in Plano

by Taylor Williams September 6, 2018

PLANO, TEXAS — A partnership between Lincoln Rackhouse, the data center division of Lincoln Property Co., and Principal Real Estate Investors has acquired a 454,421-square-foot data center located at 1000 Coit Road in Plano, a northern suburb of Dallas. The seller was an undisclosed Fortune 500 financial institution. The property has 8 megawatts immediately available for lease with the capacity to expand to 16 megawatts. The facility was acquired as part of a 1 million square-foot portfolio of data centers that includes properties in Kansas City and Phoenix.

September 6, 2018

Acquisitions Office Texas

KBS Sells 388,024 SF Office Complex in Austin

by Taylor Williams September 6, 2018

AUSTIN, TEXAS — California-based private equity firm KBS Realty Advisors has sold Stonebridge Plaza I and II, a 388,024-square-foot office complex located at 9600 and 9606 N. MoPac Expressway in Austin. The Class A property, which was fully leased at the time of sale, consists of two nine-story office towers adjoined by a seven-story parking garage. Michael McDonald and Evan August of Eastdil Secured represented KBS in the transaction. The buyer was Intercontinental Real Estate Corp., which acquired the property for an undisclosed price on behalf of one of its managed funds.

September 6, 2018

Acquisitions Office Texas

CBRE Negotiates Sale of 213,585 SF Office Building in Metro Dallas

by Taylor Williams September 6, 2018

ADDISON, TEXAS — CBRE has negotiated the sale of The Addison, a 213,585-square-foot office building in Addison, a northern suburb of Dallas. The 11-story, Class A property was built in 1981, renovated in 2016 and was 83 percent leased at the time of sale. The Addison is located off the Dallas North Tollway north of LBJ Freeway and includes structured parking, a fitness center, conference center and a tenant lounge. Gary Carr, Evan Stone, John Alvarado, Eric Mackey, Robert Hill and Jared Chua of CBRE represented the seller, a joint venture between Frontier Equity and Artemis Real Estate Partners, in the transaction. CBRE also arranged acquisition financing through Chicago-based NXT Capital. The buyer was Florida-based TerraCap Management LLC.

September 6, 2018

Acquisitions Office Texas

HHC Acquires Two Office Buildings, Land in Metro Houston for $53M

by Taylor Williams September 6, 2018

THE WOODLANDS, TEXAS — The Howard Hughes Corp. (NYSE: HHC) has acquired two office buildings totaling 257,025 square feet in The Woodlands, located about 30 miles north of Houston, for $53 million. The sale includes a parcel of land for additional office development. The existing office buildings, which were completed in 2002 and 2012, are currently vacant. HHC intends to re-tenant the properties as soon as possible. The seller was not disclosed.

September 6, 2018

Industrial Leasing Activity Texas

Consumer Goods Firm Signs 98,257 SF Industrial Lease Renewal, Expansion in Metro Dallas

by Taylor Williams September 6, 2018

CARROLLTON, TEXAS — Product Innovations Research, a Texas-based consumer goods company, has signed a 98,257-square-foot industrial lease at 1103-1215 Trend Drive in Carrollton, a northern suburb of Dallas. According to LoopNet Inc., the property was built in 1979 and is tailored to distribution users. Josh Barnes, Andrew Gilbert and Ben Wallace of Holt Lunsford Commercial represented the landlord, Stonelake Capital, in the lease negotiations.

September 6, 2018

Republic-Deer-Creek-Apartments-Fort-Worth

Acquisitions Multifamily Texas

HLC Equity Purchases Apartment Property in Fort Worth for $39.5M

by Taylor Williams September 5, 2018

FORT WORTH, TEXAS — Pittsburgh-based investment firm HLC Equity has purchased Republic Deer Creek Apartments, a 336-unit multifamily community in Fort Worth. The Class A property was built in 2012 and features a mix of one- and two-bedroom units. Amenities include a pool with tanning ledges, fitness center, resident lounge with a coffee bar, a dog park and playground and a business center. Bellwether Enterprise and Maverick Commercial Properties provided financing for the acquisition through Freddie Mac. The seller was not disclosed.

September 5, 2018

Industrial Leasing Activity Texas

Logistics Firm Signs 289,200 SF Industrial Lease in Metro Houston

by Taylor Williams September 5, 2018

HUMBLE, TEXAS — Forward Air Solutions, a division of Tennessee-based distribution and logistics firm Forward Air Corp., has signed a 289,200-square-foot industrial lease in metro Houston. The company will occupy freestanding distribution space at 18727 Kenswick Drive in Humble, a northern suburb of Houston. The property was built in 2015 and currently totals 132,000 square feet, but is in the process of being expanded. Robert McGee and Chase Cribbs of Lee & Associates represented the landlord, Adkisson Group Inc., in the lease negotiations. Mike Bauer of Fischer Co. represented Forward Air.

September 5, 2018

Acquisitions Industrial Texas

ML Realty Acquires 185,220 SF Industrial Building in Dallas

by Taylor Williams September 5, 2018

DALLAS — Illinois-based investment firm ML Realty Partners has acquired a 185,220-square-foot industrial building located at 7601 Ambassador Row in Dallas. Situated in the Brookhollow submarket with convenient access to Interstate 35 and State Highway 183, the distribution-oriented property was fully leased at the time of sale to two long-term tenants. The seller was not disclosed.

September 5, 2018

Development Industrial Self-Storage Texas

NitNeil Partners to Develop 900-Unit Self-Storage Facility in Austin

by Taylor Williams September 5, 2018

AUSTIN, TEXAS — NitNeil Partners, an Atlanta-based self-storage investment and development firm, has acquired land in Austin for the construction of a 900-unit, 100,000-square-foot self-storage facility. The four-story property, which will be located about three miles from downtown Austin, is scheduled to break ground during the first quarter of 2019 and to be delivered by early 2020. The project marks NitNeil’s first investment in Texas.

September 5, 2018

Industrial Leasing Activity Texas

CBRE Negotiates 80,269 SF Industrial Lease Renewal in El Paso

by Taylor Williams September 5, 2018

EL PASO, TEXAS — CBRE has negotiated an 80,269-square-foot industrial lease renewal at 14 Butterfield Trail Blvd. in El Paso. The warehouse/distribution facility services the Ciudad Juarez manufacturing operations of the tenant, Key Tronic Corp., a Washington-based provider of fully assembled computers and their parts. Chad McCleskey and Christian Giese of CBRE represented the landlord, Elp Butterfield 14 LLC, in the lease negotiations.

September 5, 2018

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