Texas

Shop Cos. Brokers Sale of Three Retail Centers in Texas Totaling 43,026 SF

by Taylor Williams October 24, 2017

FRISCO, PROSPER AND WAXAHACHIE, TEXAS — SHOP Cos. has brokered the sale of three retail centers totaling 43,026 square feet in the Dallas-Fort Worth (DFW) metroplex. Miami-based Antegrade Holdings purchase the 20,823-square-foot Frisco Market Center; a Texas-based limited liability company acquired the 10,149-square-foot La Cima Crossing in Prosper; and an Oklahoma-based investor bought the 12,054-square-foot Waxahachie Retail Center. Each of the centers was 100 percent leased at the time of sale.

October 24, 2017

J. Beard Arranges Sale of 22,000 SF Flex Property in Metro Houston

by Taylor Williams October 24, 2017

SPRING, TEXAS — The J. Beard Real Estate Co. has arranged the sale of a 22,000-square-foot office/warehouse property situated on two acres at 26009 Budde Road in the northern Houston suburb of Spring. The four-building property was built in 1999 and is currently occupied by seven tenants. Jeff Beard of J. Beard represented the seller, Pines Business Park LLC. San Antonio-based Windswood Corp. purchased the asset for an undisclosed price.

October 24, 2017

Features Heartland Feature Archive Midwest Northeast Northeast Feature Archive Southeast Southeast Feature Archive Texas Texas & Oklahoma Feature Archive Top Stories Western

Forecast Survey: What’s Your Take on Real Estate in 2018?

by John Nelson October 24, 2017

France Media, Inc. is conducting a brief online survey to gauge market conditions, and we welcome your participation. This survey should only take a few minutes to complete. Questions range from property sectors that your firm is most bullish on heading into 2018 to trends in deal volume to the outlook for interest rates. The results will be collated and published in the January 2018 issue of our regional magazines. Conducting these surveys is part of our mission at France Media to provide readers with indispensable information. To participate in our broker/agent survey, click here. For developers/owners/managers, click here. For lenders and financial intermediaries, click here. (Note: Please remember to click on “done” to properly submit the survey.) Sincerely, Matt Valley Editorial Director, Real Estate Regionals France Media, Inc.

October 24, 2017

Multifamily Texas

Greysteel Closes Sale of 814-Unit Multifamily Portfolio in Dallas

by Taylor Williams October 23, 2017

DALLAS — Greysteel has closed the sale of a portfolio of two multifamily properties totaling 814 units in Dallas. The 656-unit Forest Cove Apartments was built in 1981 and offers one- and two-bedroom units, as well as amenities such as a pool, tennis court and on-site laundry facilities. The 158-unit North Creek was built in 1970 and offers one- and two-bedroom units in addition to amenities such as a pool, laundry facilities and covered parking. Both properties are located just north of Interstate 635 and east of Highway 75 in northeast Dallas. Doug Banerjee, Boyan Radic, Andrew Mueller and Andrew Hanson of Greysteel negotiated the sale, other terms of which were not disclosed.

October 23, 2017

Restaurant Retail Texas

Oaxaca Interests to Convert West Dallas Warehouse into 10,000 SF Retail, Restaurant Property

by Taylor Williams October 23, 2017

DALLAS — Dallas-based development and asset management firm Oaxaca Interests will redevelop a warehouse located at 660 Fort Worth Ave. in west Dallas into a 10,000-square-foot retail and restaurant property. The warehouse property, which was previously occupied by W&B Refrigeration Service Co., is situated on one acre next to the Sylvan/Thirty mixed-use development. Oaxaca is targeting two to five tenants for the project, construction of which is scheduled to begin before the end of 2017 and wrap up in fall 2018.

October 23, 2017

Multifamily Texas

IPA Brokers Sale of 288-Unit Apartment Community in Rio Grande Valley

by Taylor Williams October 23, 2017

HARLINGEN, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Vantage at Harlingen, a 288-unit multifamily community located at 902 S. Palm Court Drive in the Rio Grande Valley city of Harlingen. Will Balthrope, Jordan Featherston and Joey Tumminello of IPA represented the undisclosed seller and procured the buyer, Presidium. The three-story property was built in 2015 and offers amenities such as a pool, fitness and business centers, a picnic area and an Internet café with a Starbucks.

October 23, 2017

Loans Multifamily Texas

LMI Capital Arranges $18.9M Green Loan for Apartment Community in Houston

by Taylor Williams October 23, 2017

HOUSTON — LMI Capital has arranged $18.9 million in green financing for a 370-unit apartment community located in the Woodlake/Briar Meadow area of Houston. Jamie Mullin of LMI Capital arranged the loan, which features a 4.3 percent interest rate and four years of interest-only payments. The undisclosed borrower will use proceeds from the loan for cash-out purposes.

October 23, 2017

Industrial Texas

NAI Partners Secures 31,688 SF Industrial Lease in Houston

by Taylor Williams October 23, 2017

HOUSTON — NAI Partners has secured a 31,688-square-foot industrial lease at 401-421 W. Crosstimbers St. in Houston on behalf of Houston Installation Services Inc., a furniture installation and relocation services firm. Jake Wilkinson of NAI represented the tenant in the negotiations. The duration of the lease, landlord and representative of the landlord were not disclosed.

October 23, 2017

Industrial Texas

Pontikes to Develop 3 MSF Distribution Center in Greater Houston

by Taylor Williams October 20, 2017

BAYTOWN, TEXAS — Houston-based Pontikes Development plans to build Port 10 Logistics Center, a 3 million-square-foot, Class A distribution center that will be situated on 246 acres at the corner of Thompson Road and Interstate 10 in the Houston metro of Baytown. The rail-served property will feature 32- and 36-foot clear heights and on-site rail and trailer storage. The first phase of the project, which is currently slated for a third-quarter 2018 completion, will deliver two cross-dock buildings measuring 485,000 and 295,000 square feet. JLL will handle leasing of the property.

October 20, 2017

Hospitality Texas

Drury Development to Build 268-Room Hotel in Arlington

by Taylor Williams October 20, 2017

ARLINGTON, TEXAS — Drury Development Corp. a subsidiary of Missouri-based hospitality owner-operator Drury Hotels Co., will build Drury Plaza Hotel, a 268-room property that will be situated on 9.2 acres at the intersection of Center Street and Interstate 30 in Arlington. The project will also deliver an upscale restaurant to the site, which is located west of the Lincoln Square retail center. Larry Jordan and Steve Williamson of Transwestern represented the seller in the disposition of the land. A timeline for construction has not yet been established.

October 20, 2017

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