Texas

New 83-Room Arrive Hotel to Open in Austin in 2019

by Taylor Williams June 8, 2017

AUSTIN — Arrive Hotels & Restaurants will open an 83-room hotel at the corner of East Sixth and Chicon streets in Austin, the company’s second location in the state capital. The 58,600-square-foot property will feature 3,500 square feet of event and meeting space, including an outdoor courtyard, as well as restaurant and retail space. Construction is scheduled for an early 2019 completion. Austin-based hospitality firm Alexa Management has been named co-developer of the project. Burton Baldridge Architects, also based in Austin, will serve as project consultant.

June 8, 2017

Bradford Commercial Arranges Sale of 103,054 SF Distribution Center in Irving

by Taylor Williams June 8, 2017

IRVING, TEXAS — Bradford Commercial has arranged the sale of Las Colinas Distribution Center, a two-building, 103,054-square-foot industrial property in Irving. Located at 3242-50 N. Skyway Circle and 3241-51 W. Story Road, the properties were 100 percent occupied at the time of sale to tenants such as JMP Engineering and PCI Logistics. Brian Pafford and Jason Miller of Bradford represented the seller, a family trust from North Texas, in the transaction. Hahn Franklin-Mitchell of Younger Partners represented the buyer, Austin-based Gretzinger Investment Group LLC.

June 8, 2017

Industrial Texas

Lee & Associates Negotiates 51,555 SF Industrial Lease in Dallas

by Taylor Williams June 8, 2017

DALLAS — Lee & Associates has negotiated a 51,555-square-foot industrial lease at 11470 Hillguard Road in Dallas. Brett Lewis and George Tanghongs of Lee & Associates represented the landlord, GLP, in the transaction. Tom Walrich of Lee & Associates represented the tenant, Supreme Custom Fabricators Inc., an Arkansas-based construction and remodeling firm.

June 8, 2017

Hospitality Loans Texas

PCCP Provides $63.5M Construction Loan for 268-Room Hotel in Dallas

by Taylor Williams June 7, 2017

DALLAS — PCCP LLC has provided development firm Dunhill Partners a $63.5 million loan for the construction of the Virgin Hotel Dallas, a 16-story, 268-room located at 1909 Hi Line Drive in the Dallas’ Design District. Scheduled to be complete in late 2019, the hotel will feature a lobby restaurant, poolside bar and a workplace lounge known as the Commons Club. Dallas-based Hamilton Realty Finance arranged the financing.

June 7, 2017

Texas

McCarthy Breaks Ground on Phase II Construction of Houston Museum of Fine Arts

by Taylor Williams June 7, 2017

HOUSTON — McCarthy Building Cos. Inc. has broken ground on Phase II of the campus expansion of the Museum of Fine Arts in Houston. Phase II includes the construction of the Nancy and Rich Kinder Building, a 243,632-square-foot gallery for modern and contemporary art. The building will also feature a 200-seat theater, street-level café, restaurant overlooking the sculpture garden and a 115-space underground parking garage. Completion is slated for late 2019.

June 7, 2017

Hospitality Texas

NewcrestImage Begins Construction of Three-Hotel Campus in Amarillo

by Taylor Williams June 7, 2017

AMARILLO, TEXAS — NewcrestImage has begun construction on a hotel campus at the intersection of Interstate 40 Frontage Road and South Soucy Road in Amarillo. The project will deliver three hotels totaling approximately 300 rooms. The first property, a 94-room Tru by Hilton hotel, is expected to open in mid-2018. Construction of a Hyatt-branded hotel and Marriott-branded hotel is slated to begin by the end of the year.

June 7, 2017

Healthcare Oklahoma Texas

CBRE Brokers Sale of 54,970 SF Hospital in Greater Oklahoma City

by Taylor Williams June 7, 2017

SAYRE, OKLA. — CBRE has brokered the sale of Sayre Memorial Hospital, a 54,960-square-foot medical facility located at 911 Hospital Drive near Interstate 40 in the Oklahoma City metro of Sayre. Daniel Morris of CBRE and Allen McMurty of Cushman & Wakefield represented the seller, Sayre Memorial Hospital Authority, in the transaction. Healthcare Properties Transaction Group of Oklahoma LLC purchased the property for an undisclosed price.

June 7, 2017

Industrial Texas

Boyd Commercial Negotiates 50,400 SF Industrial Lease in Houston

by Taylor Williams June 7, 2017

HOUSTON — Boyd Commercial has negotiated a 50,400-square-foot lease at Apex Distribution Center, a 410,000-square-foot industrial property located at 5750 Brittmoore Road in Houston. David Boyd, Greg Barra and Wes Williams of Boyd represented the landlord, Crow Holdings, in the transaction. Richard Chen of Richard’s Investments represented the tenant, an affiliate of furniture manufacturer Furinno.com. The new lease brings the property, which houses the former Goya Foods Building, to 86 percent occupancy.

June 7, 2017

Multifamily Student Housing Texas

29SC Acquires 488-Bed Student Housing Property in San Marcos, Texas

by Taylor Williams June 6, 2017

SAN MARCOS, TEXAS — 29th Street Capital (29SC) has acquired The Reserve at West Avenue, a 152-unit, 488-bed student housing community in the San Antonio metro of San Marcos. Located at 109 West Ave., approximately two miles from Texas State University, the property consists of one-, two-, three- and four-bedroom units, each fully furnished, including washers and dryers. Amenities include a pool, 24-hour fitness center, private study rooms and a clubhouse with a game room. 29SC will invest roughly $1 million to the unit interiors and the property’s amenities.

June 6, 2017

Retail Texas

SDI Begins Redevelopment of 39,000 SF Retail Center in Metro Houston

by Taylor Williams June 6, 2017

BELLAIRE, TEXAS — SDI Realty Advisors has begun redeveloping Bellaire Town Center, a one-story, 39,000-square-foot retail center in the Houston metro of Bellaire. The project will deliver three buildings and increase the size of the center to 72,000 square feet. Phase I of construction is scheduled for a January 2018 completion and Phase II is scheduled for a fall 2018 completion.

June 6, 2017

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