Texas

Oldham Goodwin Brokers Sale of 170,000 SF Retail Power Center in College Station

by Taylor Williams May 10, 2017

COLLEGE STATION, TEXAS — Oldham Goodwin Group LLC, a brokerage and development firm based in Central Texas, has brokered the sale of University Shopping Center, a 170,000-square-foot retail power center in College Station. Located at 1901 S. Texas Ave. approximately half a mile from Texas A&M University, the center is anchored by tenants such as Ross Dress for Less, Big Lots and Hobby Lobby. Clint Oldham of Oldham Goodwin represented the seller, Allegiancy, a Virginia-based asset management firm, and procured the undisclosed buyer.

May 10, 2017

Retail Texas

Prestige to Break Ground on 171,027 SF Shopping Center in Abilene

by Taylor Williams May 10, 2017

ABILENE, TEXAS — New Mexico-based Prestige Development Group will break ground this month on The Shops at Abilene Village, a 171,027-square-foot shopping center that will be located at 3550 S. Clack St. in Abilene. Approximately 85 percent of the space is preleased to tenants such as Academy Sports + Outdoors, Burlington and Petco. Delivery of the center is scheduled for 2018.

May 10, 2017

Loans Multifamily Texas

Ready Capital Closes $5.7M Loan for 72-Unit Multifamily Property in Austin

by Taylor Williams May 10, 2017

AUSTIN, TEXAS — Ready Capital Structured Finance, a New York-based lender, has closed a $5.7 million loan for the acquisition, renovation and stabilization of a 72-unit multifamily property located at 2201 W. William Cannon Drive in Austin. The Class B, garden-style property consists of seven two-story buildings. The non-recourse, interest-only loan has a 36-month term with one extension option.

May 10, 2017

Industrial Texas

JLL Negotiates 68,333 SF Industrial Lease Renewal in Metro Houston

by Taylor Williams May 10, 2017

PASADENA, TEXAS — JLL has negotiated a 68,333-square-foot lease renewal on behalf of Wrist USA Inc., a Houston-based logistics firm, at East Belt Business Park in Pasadena. Built in 2007, the industrial property is located at 1485 Sam Houston Parkway and features a cross-dock configuration, wide truck courts and 24-foot clear heights. Ryan Fuselier and Travis Secor of JLL represented the tenant in the lease negotiations. Faron Wiley of CBRE represented the landlord, Morgan Stanley.

May 10, 2017

Retail Texas

Edifis Group Sells 8,500 SF Retail Center in Katy

by Taylor Williams May 10, 2017

KATY, TEXAS — Edifis Group, a Texas-based investment firm, has sold Grand Crossing II, an 8,500-square-foot retail strip center located at the intersection of Interstate 10 and Grand Parkway in Katy. At the time of sale, the property, which is shadow-anchored by Costco, was 100 percent leased to Sleep Number, GrandLux Nail Lounge and American Dental Partners. Ryan West of HFF represented the seller in the transaction.

May 10, 2017

Loans Multifamily Texas

Love Funding Provides $87.3M HUD Construction Loan for Apartment Complex Within Legacy West

by Taylor Williams May 9, 2017

PLANO, TEXAS — Love Funding, a subsidiary of publicly traded lender Midland State Bancorp Inc., has provided a $87.3 million HUD loan for the construction of LVL 29, a high-rise apartment complex located within the Legacy West development in Plano. Leonard Lucas of Love Funding arranged the non-recourse loan, which is the largest construction loan ever issued by HUD in the Southwest region. The developer of LVL 29, NE Development, expects to deliver the property in May 2019.

May 9, 2017

Industrial Texas

Crow Holdings to Break Ground on 1.2 MSF Industrial Park in Metro Dallas

by Taylor Williams May 9, 2017

LANCASTER, TEXAS — Crow Holdings Capital-Real Estate will break ground this month on I-35 Logistics Crossing, a two-building, 1.2 million-square-foot industrial park located at the intersection of Interstates 35 and 20 in the south Dallas suburb of Lancaster. The property, which is slated for an early 2018 delivery, will feature 36-foot clear heights, 185-foot truck courts and trailer storage. Kurt Griffin and Nathan Orbin of Cushman & Wakefield will handle leasing of the property.

May 9, 2017

Hospitality Loans Texas

Axilla Capital Secures $11.9M Bridge Loan for Wyndham Hotel in College Station

by Taylor Williams May 9, 2017

COLLEGE STATION, TEXAS — Axilla Capital LLC has secured an $11.9 million, non-recourse bridge loan for TRYP by Wyndham College Station, a 166-room hotel located at 1508 S. Texas Ave. near Texas A&M University in College Station. Joel Mazur and Tom Fleming of Axilla arranged the loan on behalf of an undisclosed borrower that acquired the property in 2015. Proceeds will be used to refinance the property’s existing debt and fund outstanding renovation costs.

May 9, 2017

Retail Texas

STRIVE Brokers Sale of 27,946 SF Retail Center in Port Arthur

by Taylor Williams May 9, 2017

PORT ARTHUR, TEXAS — STRIVE, a Dallas-based investment sales firm, has brokered the sale of Port Arthur Corners Shopping Center, a 27,946-square-foot retail center in Port Arthur, a suburb of Beaumont. Shadow-anchored by WalMart, the center was 81 percent occupied at the time of sale. Bryce Gissler of STRIVE represented the seller, a Texas-based real estate firm, in the transaction. Other terms of sale were not disclosed.

May 9, 2017

Healthcare Office Texas

Moody Rambin Negotiates 15,856 SF Medical Office Lease Renewal in Houston

by Taylor Williams May 9, 2017

HOUSTON — Moody Rambin has negotiated a 15,856-square-foot lease renewal at Woodlake Office Park, a medical/office complex located at 2500 Tanglewilde St. in Houston. Terri Torregrossa of Moody Rambin represented the landlord, Woodlake Properties Ltd., in the lease negotiations. Tim Relyea of Cushman & Wakefield represented the tenant, Texas ENT Specialists.

May 9, 2017

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