Texas

HFF Arranges Capitalization of 1.4 MSF Industrial Project Within DFW Airport

by Taylor Williams February 8, 2018

IRVING, TEXAS — HFF has arranged the capitalization of Gateway Logistics Center, a five-building, 1.4 million-square-foot industrial project underway within Dallas-Fort Worth (DFW) International Airport in Irving. The site is part of the 600-acre Passport Park mixed-use project that is also being developed at the southern end of the airport. Joe Thornton and Adam Herrin of HFF arranged a joint equity partnership between Dallas-based developer Bandera Ventures and Boston-based private equity firm Long Wharf Capital for the project. Thornton and Herrin also secured an undisclosed amount of construction financing from Bank of the Ozarks. Three of the buildings will range in size from 250,000 to 380,000 square feet and feature cross-dock configurations and 32- to 36-foot clear heights. The other two buildings will measure 200,000 to 250,000 square feet and feature rear-load configurations and 28- to 32-foot clear heights. Dallas-based FA Peinado will serve as general contractor. Delivery of the buildings is expected to begin this fall.

February 8, 2018

Sealy Acquires 262,631 SF Industrial Park in Northwest Houston

by Taylor Williams February 8, 2018

HOUSTON — Sealy & Co., an investment firm with offices in Atlanta and Houston, has acquired Sam Houston Business Park, a 262,631-square-foot industrial development in northwest Houston. Developed by Levey Group, the four-building, Class A property fronts the Sam Houston Tollway and offers direct access to Interstates 10 and 45, as well as U.S. Highway 290. The property was 100 percent leased at the time of sale.

February 8, 2018

Retail Texas

CBRE Brokers Sale of 113,742 SF Grocery-Anchored Retail Center in Arlington

by Taylor Williams February 8, 2018

ARLINGTON, TEXAS — CBRE has brokered the sale of Seville Commons, a 113,742-square-foot, Class A retail center in Arlington. Anchored by Walmart Neighborhood Market, the property was 95 percent leased at the time of sale to tenants such as Chase Bank, Sprint, Subway and GNC. Chris Gerard, Chris Cozby and Blaine Dozier of CBRE represented the undisclosed seller in the transaction. Cincinnati-based Phillips Edison, a REIT specializing in grocery-anchored assets, purchased the center for an undisclosed price.

February 8, 2018

Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 408-Unit Self-Storage Facility in College Station

by Taylor Williams February 8, 2018

COLLEGE STATION, TEXAS — Marcus & Millichap has arranged the sale of Brazos Moving and Storage, a new 408-unit self-storage facility located at 10999 State Highway 30 in College Station. Construction of the property was completed in January and comprises 60,550 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability firms.

February 8, 2018

Retail Texas

Crunch Fitness to Open 27,587 SF Gym in Killeen, Texas

by Taylor Williams February 8, 2018

KILLEEN, TEXAS —Fitness chain Crunch Fitness will open a 27,587-square-foot gym at Wendland Plaza, a 205,224-square-foot shopping center located in Killeen, about 70 miles north of Austin. The lease brings the occupancy rate of the property, which also houses tenants such as Conn’s HomePlus, Altitude Trampoline Park and Lumber Liquidators, to 98 percent. Grant Gary and Dan Rebensdorf of The Woodmont Co. represented the landlord, Killeen ATM LLC, in the lease negotiations.

February 8, 2018

Retail Texas

HHC Breaks Ground on 62,565 SF Retail Center in Metro Houston

by Taylor Williams February 7, 2018

THE WOODLANDS, TEXAS — The Howard Hughes Corp. (NYSE: HHC) has broken ground on Lake Woodlands Crossing, a 62,565-square-foot retail center in the northern Houston suburb of The Woodlands. The property is 65 percent preleased to tenants such as Ulta Beauty, Main Squeeze Juice Co. and Stickhouse, a gelato shop. Completion of the center, which will be located at the intersection of Lake Woodlands Drive and Grogan’s Mill Road, is slated for the fourth quarter.

February 7, 2018

Industrial Texas

Levey Group Completes 64,850 SF Distribution Center in Houston

by Taylor Williams February 7, 2018

HOUSTON — Levey Group, a family-owned industrial development firm, has completed a 64,850-square-foot distribution center within Northwest Place Industrial Park in Houston. The side-load facility can service a single tenant for be divided into leasehold spaces as small as 22,000 square feet. Facility features include 32-foot clear heights, dock-high loading doors and two ramps for grade-level building access. Two additional tilt-wall facilities are also being developed as part of Phase II of the project. CBRE is handling leasing of the property.

February 7, 2018

Retail Texas

Aldi, Dollar Tree Open Stores at 156,000 SF Shopping Center in Metro Houston

by Taylor Williams February 7, 2018

KINGWOOD, TEXAS — German discount grocer Aldi and Virginia-based Dollar Tree have opened stores at Shoppes at Kingsgate, a 156,000-square-foot retail center in the northern Houston suburb of Kingwood. Aldi will occupy approximately 19,000 square feet and Dollar Tree will occupy 9,500 square feet. A building that formerly housed Sears was demolished to make way for the construction of both retailers’ spaces. Shawn Ackerman of Henry S. Miller Co. Inc. (HSM) represented the landlord, Chestnut Ridge Associates, in the lease negotiations. Chris Pitts and Joe Silver of Streetwise Retail Advisors represented Aldi and Perry Zieben of Zieben Realty represented Dollar Tree.

February 7, 2018

Industrial Texas

NAI Partners Brokers Sale of 55,640 SF Manufacturing Facility in Houston

by Taylor Williams February 7, 2018

HOUSTON — NAI Partners has brokered the sale of a 55,640-square-foot, crane-served manufacturing facility situated on 3.6 acres at 6460-6450 Langfield Road in northwest Houston. Clay Pritchett and Joshua Lass-Sughrue of NAI Partners represented the seller, JHV LLC, in the transaction. Travis Secor and Ryan Fuselier of JLL represented the buyer, MC Properties & Investments LLC.

February 7, 2018

Loans Multifamily Oklahoma Texas

Harborview Arranges $16M HUD Refinancing of Multifamily Asset in Oklahoma

by Taylor Williams February 7, 2018

OKLAHOMA — Lawrence, N.Y.-based Harborview Capital Partners has arranged the $16 million refinancing of a multifamily property in Oklahoma that comprises more than 300 units. The non-recourse loan was financed through HUD’s MAP 223(f) program and features an 80 percent loan-to-value (LTV) ratio and a 35-year fixed-rate term. Jeffrey Fuchs of Harborview secured the loan on behalf of a California-based borrower, which purchased the property two years ago and implemented a $4 million capital improvement plan.

February 7, 2018

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