Texas

TCU to Open Real Estate Center at New Business School in Fort Worth

by Taylor Williams April 2, 2018

FORT WORTH, TEXAS — The Neeley School of Business at Texas Christian University (TCU) in Fort Worth will open a real estate center, according to the school’s website. The center, which has received more than $2 million in funding, will provide educational resources, research and networking opportunities for the Dallas-Fort Worth (DFW) real estate industry. The Neeley School of Business is currently undergoing a $5.5 million expansion project that should deliver new facilities by January 2020, and the real estate center is expected to be housed within the expanded space.

April 2, 2018

Acquisitions Office Texas

TIER REIT Sells 575,000 SF Office Complex in West Houston to Griffin Partners

by Taylor Williams April 2, 2018

HOUSTON — Dallas-based TIER REIT Inc. has sold Loop Central, a 575,000-square-foot office complex in west Houston, according to company filings. TIER REIT acquired the three-building property, which was built in 1985 and approximately 84 percent leased at the time of sale, in late 2007. The buyer was Griffin Partners, a Houston-based development and investment firm, according to realtynewsreport.com. HFF brokered the sale.

April 2, 2018

Development Retail Texas

At Home to Open 108,000 SF Store in Northeast Dallas

by Taylor Williams April 2, 2018

DALLAS — Home décor retailer At Home will open a 108,000-square-foot store at the corner of President George Bush Turnpike and Firewheel Parkway in northeast Dallas. Situated on 11.1 acres, the store is expected to open during the fourth quarter. Michael Meaden and Andrew Wiley of JLL, along with Rich Flaten of CBRE, represented the partnership that sold the future site of the store. Karla Smith of CBRE represented the buyer in the land sale. Plano, Texas-based At Home operates approximately 115 stores across the country.

April 2, 2018

Acquisitions Hospitality Texas

Marcus & Millichap Closes Sale of Two Hotels Totaling 190 Rooms in Metro Dallas

by Taylor Williams April 2, 2018

GRAPEVINE, TEXAS — Marcus & Millichap has closed the sale of a 94-room Hampton Inn & Suites and a 96-room Comfort Suites, two hotels located in the Dallas metro of Grapevine. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, Dallas-based Supreme Bright Grapevine II and IV LLC, in the transaction. The duo also procured the buyer. Other terms of sale were not disclosed.

April 2, 2018

Acquisitions Retail Texas

STRIVE Arranges Sale of Walgreens-Leased Store in McAllen, Texas

by Taylor Williams April 2, 2018

MCALLEN, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a Walgreens-leased store located in the Rio Grande Valley (RGV) metro of McAllen. Will Merritt and Adam Gottschalk of STRIVE represented the seller, a New York-based investor. Merritt and Gottschalk also procured the buyer, a Michigan-based private investor that acquired the property via a 1031 exchange. At the time of sale, the property had 15 years remaining on its double net lease

April 2, 2018

Development Multifamily Texas

Marquette Cos. Completes 359-Unit Apartment Tower in Downtown Houston

by Taylor Williams March 30, 2018

HOUSTON — Chicago-based development firm Marquette Cos. has completed Catalyst, a 359-unit apartment tower located one block from Minute Maid Park in downtown Houston. The 28-story building, which is roughly 25 percent preleased, is the first luxury high-rise to be completed in the area in nearly a decade. Amenities at the property, which was designed by Ziegler Cooper Architects, include a 21,500-square-foot pool, 2,200-square-foot fitness center, dog park, conference room a coffee bar. The property also features 7,400 square feet of ground-floor restaurant space, a 2,000-square-foot club on the 26th floor and a bar and lounge on the 28th floor. Floor plans include studio, one-, two- and three-bedroom units ranging in size from roughly 600 to 2,000 square feet. The property will officially open on April 5.

March 30, 2018

3100-State-Highway-161-Grand-Prairie-Texas

Acquisitions Industrial Texas

Stream Brokers Sale of 265,877 SF Distribution Center in Metro Dallas

by Taylor Williams March 30, 2018

GRAND PRAIRIE, TEXAS — Stream Realty Partners has brokered the sale of a 265,877-square-foot distribution center located at 3100 State Highway 161 in the Dallas metro of Grand Prairie. Built in 2015, the property is located within Trinity 161 Trade Center and offers convenient access to Interstate 30. Building features include 27-foot clear heights, 46 dock-high doors, an ESFR sprinkler system and 390 car parking spaces. Cannon Green and Sarah Ozanne of Stream Realty Partners represented the buyer, Colony Industrial, a division of Los Angeles-based REIT Colony Northstar. The seller was Soho Somervell Trinity LP.

March 30, 2018

Leasing Activity Office Texas

Tech Firm Signs 40,000 SF Office Lease for Austin Headquarters

by Taylor Williams March 30, 2018

AUSTIN, TEXAS — Innovative Aftermarket Systems (IAS), a provider of management solutions for the finance and insurance industries, has signed a 40,000-square-foot office lease at Preserve at 620 in Austin. The company will establish its headquarters at the 225,000-square-foot property, which is currently under construction. Amenities at the property will include a fitness center, sports court and open courtyard spaces. Ryan Bohls of Newmark Knight Frank represented IAS in the lease negotiations. Ben Tolson and Joe Simmons with AQUILA Commercial represented the landlord and developer, San Diego-based PacVentures Inc.

March 30, 2018

Acquisitions Retail Texas

Marcus & Millichap Arranges Sale of 9,100 SF Retail Asset Leased to Dollar General in Metro Dallas

by Taylor Williams March 30, 2018

BALCH SPRINGS, TEXAS — Marcus & Millichap has arranged the sale of a 9,100-square-foot retail property net-leased to Dollar General in Balch Springs, an eastern suburb of Dallas. Vincent Knipp of Marcus & Millichap represented the buyer, a private investor, in the transaction. Other terms of sale were not disclosed.

March 30, 2018

Industrial Market Reports Texas Texas Market Reports

San Antonio Nonprofit’s Warehouse Search Captures Trends in Industrial Market

by Taylor Williams March 30, 2018

As the retail sector continues to adapt and evolve to meet consumer demand for e-commerce and next-day or same-day delivery, industrial real estate will hold its place in 2018 as the top-ranked property sector. The property type has held this title for the past four years, according to the annual Emerging Trends in Real Estate study, conducted by PwC and the Urban Land Institute. The growth of e-commerce has been so rapid that the demand for industrial warehouse space has far outpaced supply in most markets for years. However, Emerging Trends also indicates that supply and demand began to come into balance in 2017 and will continue to do so in 2018. That balance gives users the opportunity to pay for industrial spaces that better suits their needs, as new buildings with increased technology and other amenities are popping up in prime areas. The growth of e-commerce has also created new demand for properties that were previously considered Class B and C industrial buildings, particularly those located along the “last mile” to consumers in urban areas. Basic Stats & Trends Current demand for industrial real estate in San Antonio is highly diverse. According to the latest report from REOC San …

March 30, 2018

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