Texas

Hines to Develop 135-Acre Mixed-Use Project in Allen, Texas

by Taylor Williams May 15, 2017

ALLEN, TEXAS — Hines will develop a 135-acre corporate campus and mixed-use development in the Dallas-Fort Worth metro of Allen, which will be branded as The Strand. Phase I of the project will deliver approximately 200,000 square feet of office space and 80,000 square feet of retail space. Later phases will complete the build-out with 1.5 million square feet of office space and 300,000 square feet of retail space. A timetable for project delivery and groundbreaking has not yet been established.

May 15, 2017

Joint Venture Lands Construction Loan for 327,000 SF Office Building in Spring

by Taylor Williams May 15, 2017

SPRING, TEXAS — A joint venture between Patrinely Group LLC, USAA Real Estate Co. and CDC Houston has received a construction loan for the development of CityPlace 2, a 327,000-square-foot, Class A office building that will be located in the Houston suburb of Spring. The property, which is slated for completion in 2018, will be part of CityPlace, a 60-acre, mixed-use development located at the intersection of Hardy Toll Road and Interstate 45. Wally Reid, Cortney Cole and Trent Agnew of HFF arranged the loan, the amount of which was not disclosed.

May 15, 2017

Office Texas

JLL Arranges Sale of 45,118 SF Office Property in Fort Worth

by Taylor Williams May 15, 2017

FORT WORTH, TEXAS — JLL has arranged the sale of 3700 Hulen St., a 45,118-square-foot, five-building office property situated on 2.6 acres near the intersection of Interstate 30 and Chisholm Trail Parkway in Fort Worth. Pat McDowell and Matt Montague of JLL represented the seller, Chemical Management Co. Inc. 3700 Hulen LLC purchased the property for an undisclosed price.

May 15, 2017

Healthcare Office Texas

EDGE Brokers Sale of 21,246 SF Medical Office Asset in Plano

by Taylor Williams May 15, 2017

PLANO, TEXAS — EDGE Realty Capital Markets has brokered the sale of Plano Orthopedic, a 21,246-square-foot medical office asset located at 5228 W. Plano Parkway. Wilson Stafford, John Mungioli and Brandon Crow of EDGE represented the seller, Orthopedic Network Ltd., in the transaction. An affiliate of healthcare facilities developer Caddis purchased the property, which currently houses Plano Orthopedic & Sports Medicine Center Inc., for an undisclosed price.

May 15, 2017

Restaurant Retail Texas

Ascension Coffee to Open New Location at Thanksgiving Tower in Downtown Dallas

by Taylor Williams May 15, 2017

DALLAS — Ascension Coffee, a Texas-based coffee shop, café and wine bar, will open its third location in Dallas within Thanksgiving Tower, a 50-story tower located at 1601 Elm St. Amy MacLaren of CBRE represented the landlord, Woods Capital Management, in the lease negotiations. Jack Gosnell and Elizabeth Herman of CBRE represented the tenant.

May 15, 2017

Multifamily Texas

Marcus & Millichap Arranges $45.6M Sale of Five-Property, 705-Unit Portfolio in North Texas

by Jeff Shaw May 12, 2017

DALLAS — Marcus & Millichap has brokered the sale of five multifamily communities in the Dallas-Fort Worth area for $45.6 million. The company’s Dallas-based Fluellen|Hoover Multifamily investment sales team, led by Nick Fluellen and Bard Hoover, arranged the transaction. The portfolio totals 705 units and includes West Wind, 160 units, Irving; La Jolla Terrace, 340 units, Fort Worth; Castle Glen, 48 units, Garland; Northridge Court, 85 units, Cleburne; and Social House, 72 units, Nacogdoches.

May 12, 2017

Loans Multifamily Seniors Housing Texas

KeyBank Provides $9.1M Loan to Rehab Affordable Seniors Community in Tulsa

by Jeff Shaw May 12, 2017

TULSA, OKLA. — KeyBank Real Estate Capital has provided a $9.1 million HUD loan to LEDIC Realty Co. for the rehabilitation of Quail Creek Villa, an affordable seniors housing community in Tulsa. The community is restricted to residents over 62 years of age and those with disabilities. All 120 units of the property are reserved for those making 60 percent or less of the area median income. Jeff Rodman of Key’s Commercial Mortgage Group and Kelly Frank of Key’s Community Development Lending and Investment (CDLI) group arranged the financing.

May 12, 2017

Office Texas

Unilev Capital Begins $3M Renovation Program for Three Riverway Office Tower in Houston

by Jeff Shaw May 12, 2017

HOUSTON — Unilev Capital Corp. is underway on a $3 million renovation program for Three Riverway, a 395,637-square-foot office tower in Houston’s Uptown/Galleria submarket. Plans include improvements to the lobby, plaza and parking garage. Unilev expects to wrap up the renovations by the end of the summer. Steve Rocher, Kristen Rabel and Parker Duffie of CBRE’s Houston office handle the leasing assignment for Three Riverway, which is currently 80 percent leased. Existing amenities at Three Riverway include an executive conference center, fitness center and 24/7 security. Unilev’s corporate offices are located in the Riverway office complex.

May 12, 2017

Retail Texas

Baker Katz Purchases Land Along Beltway 8 in Houston for Retail Development

by Jeff Shaw May 12, 2017

HOUSTON — Baker Katz, a Houston-based partner of the X Team International commercial real estate services network, has purchased four acres of land along Beltway 8 in Houston. The company plans to break ground later this year on the site for two multi-tenant retail buildings totaling 20,000 square feet. Situated near Port Houston, the retail buildings are expected to accommodate restaurants that require drive-thru capabilities. Chris Pitts of Streetwise Retail Advisors represented Baker Katz in the land purchase.

May 12, 2017

Industrial Texas

Lee & Associates Arranges 8,460 SF Industrial Lease in Houston

by Jeff Shaw May 12, 2017

HOUSTON — Lee & Associates has arranged an 8,460-square-foot industrial lease on behalf of the landlord, Liberty Property Trust, at Northgreen Business Park in Houston. The industrial park is located at 1428 N. Sam Houston Parkway East. Ryan Searle and Justin Tunnell of Lee & Associate’s Houston office represented Liberty Property Trust, and Northwinds Commercial Realty LLC represented the tenant, Threading & Sealing Technologies LLC.

May 12, 2017

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