Texas

Developers Break Ground on 231,030 SF Flex Campus in Metro Austin

by Taylor Williams May 3, 2017

CEDAR PARK, TEXAS — Developers IGX Brushy Creek LLC and American National Insurance Co. Eagle LLC have broken ground on Brushy Creek Corporate Center, a two-building, 231,030-square-foot flex/industrial campus in the northern Austin suburb of Cedar Park. Situated on 16 acres along Brushy Creek Drive, the buildings will feature 48-inch dock-high doors and 24-foot clear heights. The general contractor, Cantera Design Builders LLC, is expected to deliver the project in August. AQUILA Commercial will serve as the leasing and sales broker on the project.

May 3, 2017

HCA Holdings to Acquire Two Hospitals Totaling 417 Beds in Metro Houston, San Antonio

by Taylor Williams May 3, 2017

TOMBALL AND JOURDANTON, TEXAS — HCA Holdings, a Tennessee-based, publicly traded operator of more then 300 medical properties, will acquire two hospitals totaling 417 beds in Texas from subsidiaries of Community Health Systems. The two properties are Tomball Regional Medical Center, a 350-bed facility in the Houston metro of Tomball, and South Texas Regional Medical Center, a 67-bed facility in the San Antonio metro of Jourdanton. The transaction is expected to close this summer.

May 3, 2017

Retail Texas

Crayola Experience to Open 60,000 SF Location at Shops at Willow Bend in Plano

by Taylor Williams May 3, 2017

PLANO, TEXAS — Crayola will open a new Crayola Experience family attraction at the Shops at Willow Bend, a mall located at 6121 W. Park Blvd. in Plano. The 60,000-square-foot concept, which will be situated between the food court and Macy’s, will feature a 5,000-square-foot Crayola Store. Crayola expects to hire about 200 part- and full-time employees during peak employment at the new store, which is the fourth of its kind. The opening is slated for 2018.

May 3, 2017

Healthcare Office Texas

Marcus & Millichap Brokers Sale of 173,790 SF Office/Medical Complex in Dallas

by Taylor Williams May 3, 2017

DALLAS — Marcus & Millichap has brokered the sale of Forest Green Office/Medical Complex, a four-building, 173,790-square-foot asset located along Greenville Avenue near Interstate 635 and the LBJ Freeway in Dallas. Ron Hebert and Michael Lawrence of Marcus & Millichap represented the seller, a California-based investment group. The property, which was built in 1985, was 82 percent leased at the time of sale.

May 3, 2017

Office Texas

Colliers Secures 88,084 SF Office Lease for Marketing Firm in North Dallas

by Taylor Williams May 3, 2017

DALLAS — Colliers International has secured an 88, 084-square-foot office lease on behalf of marketing agency Ansira Partners at Three Galleria Tower in north Dallas. Daniel Rudd and Billy Vahrenkamp of Colliers represented Ansira in the lease negotiations. Shannon Brown, Kenzie Killgore and Celeste Fowden of CBRE represented Galleria Towers. Ansira employees are scheduled to move into the property, which is located at 13155 Noel Road, in November.

May 3, 2017

Features Retail Texas Texas & Oklahoma Feature Archive Top Stories

InterFace Panel: Parking Spaces Present New Opportunities for Developers

by Taylor Williams May 3, 2017

HOUSTON — As e-commerce continues its siege of brick-and-mortar retail, shopping center developers in Houston are re-evaluating and repurposing the space currently allotted for parking. Virtually all centers are seeing reduced need for parking space, which creates opportunities to reclaim that space for more efficient uses, like adding another in-line store. At the InterFace Houston Retail conference on April 18, moderated by David Luther of Marcus & Millichap, industry experts spoke at length about how retail developers are cutting their parking allotments in strip centers and power centers alike, largely because of convenience-oriented technologies. Apps like Postmates and TaskRabbit have made it possible to outsource running errands to other people. Online grocery delivery services like Instacart and Shipt allow customers to do their shopping with a few quick clicks. Even Uber has gotten into the game with delivery features like UberRUSH for errands and UberEATS for meals. According to Tom Lile, president of retail development firm Gulf Coast Commercial Group and a conference panelist, such products and services have already begun to influence Houston developers’ thoughts on parking. “Fifteen years ago, if you were building a power center, you absolutely had to have five parking spaces per 1,000 square feet …

May 3, 2017

Office Texas

Granite Properties Acquires 163,861 SF Office Building in North Dallas

by Taylor Williams May 2, 2017

DALLAS — Granite Properties has acquired a 163,861-square-foot, Class A office building located at 8235 Douglas Ave. in the University Park neighborhood of north Dallas. The 13-story building, which will be rebranded “The Douglas,” was built in 1980 and recently received $3 million in interior renovations and $1.5 million in system upgrades. Granite plans to develop a customer lounge and conference center that will feature a coffee bar, grab-and-go food service and a putting green. Transwestern Investment Group sold the property to Granite for an undisclosed price.

May 2, 2017

Industrial Texas

Langford, Flaherty Start Pre-Construction of Industrial Park at Former Raytheon Campus in Garland

by Taylor Williams May 2, 2017

GARLAND, TEXAS — Dallas-based development partners Langford Property Co. and Flaherty Development have begun pre-construction demolition and remediation of asbestos for Jupiter Miller Business Park, a 40-acre industrial development in Garland situated within the former campus of defense contractor Raytheon. The first phase of construction, which will begin in June, will deliver a two-building, 800,000-square-foot distribution center.

May 2, 2017

Loans Multifamily Texas

Hunt Mortgage Secures $21M in Refinancing for Multifamily Property in Metro Dallas

by Taylor Williams May 2, 2017

BALCH SPRINGS, TEXAS — Hunt Mortgage Group has secured a $21 million Fannie Mae loan for the refinancing of Glenshire Villas Apartments, a 484-unit multifamily complex in the eastern Dallas suburb of Balch Springs. Located at 12222 Quail Drive, the garden-style property spans 89 two-story buildings. The 10-year loan, which was placed on behalf of an undisclosed borrower, features a 30-year amortization schedule and five years of interest-only payments.

May 2, 2017

Loans Multifamily Texas

Dougherty Mortgage Arranges $8.7M in Refinancing for Apartment Complex in Farmers Branch

by Taylor Williams May 2, 2017

FARMERS BRANCH, TEXAS — Dougherty Mortgage LLC has arranged an $8.7 million Fannie Mae loan for the refinancing of Villa Creek, a 161-unit apartment property located at 2835 Villa Creek Drive in the Dallas-Fort Worth metro of Farmers Branch. Dougherty arranged the 10-year loan with a 30-year amortization schedule through a partnership with Old Capital Lending on behalf of the borrower, 2835 Villa Creek Drive LLC.

May 2, 2017

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