Texas

Dermody Completes 626,439 SF Distribution Center in South Dallas

by Taylor Williams September 11, 2017

DALLAS — Nevada-based development firm Dermody Properties has completed Phase I of Logisticenter at Dallas, a two-building industrial park situated on 61.7 acres at the intersection of Bonnie View Road and Logistics Drive in South Dallas. Phase I delivered a 626,439-square-foot distribution center featuring 36-foot clear heights, 111 loading docks, 262 car parking stalls and 136 trailer stalls. The center is also expandable to 1.1 million square feet. MYCON General Contractors handled construction of the project.

September 11, 2017

Local Resident to Develop Class A Office Property in Austin

by Taylor Williams September 11, 2017

AUSTIN, TEXAS — Austin resident Michael Ayer will develop Davenport 360, a 33,911-square-foot, Class A office property that will be located at 6001 Bold Ruler Way along Capital of Texas Highway in Austin. The property will be situated near local retail and restaurant options and offer employees a three-level parking garage. The developer plans to break ground as soon as the property is 50 percent pre-leased, according to the Austin Business Journal. Cushman & Wakefield is handling pre-leasing of the property.

September 11, 2017

Multifamily Texas

Michaelson Group, Partner Acquire 126-Unit Apartment Community in Dallas

by Taylor Williams September 11, 2017

DALLAS — Michaelson Real Estate Group LLC and a private equity investor have acquired Chesapeake Apartments, a 126-unit multifamily community located at 11620 Audelia Road in Dallas. Built in 1982, the property offers one- and two-bedroom units and recently underwent renovations to its roof and exterior. Amenities include two pools, a business center, picnic area and covered parking. The property was 98 percent occupied at the time of sale.

September 11, 2017

Retail Texas

EDGE Brokers Sale of 16,253 SF Shopping Center in Austin

by Taylor Williams September 11, 2017

AUSTIN, TEXAS — EDGE Realty Capital Markets has brokered the sale of The Grove at Lakeline, a 16,253-square-foot retail property in Austin. Located at the northwest corner of State Highway 183 and Ranch Road 620, the center houses tenants such as Mattress Firm, T-Mobile and Orangetheory Fitness. Brandon Beeson and Garrett Wood of EDGE represented the seller, 183-620 LP in the transaction. A limited liability firm purchased the asset for an undisclosed price.

September 11, 2017

Office Texas

Newcor Negotiates 15,835 SF Office Lease Renewal in Metro Houston

by Taylor Williams September 11, 2017

THE WOODLANDS, TEXAS — Newcor Commercial Real Estate has negotiated an office lease renewal on behalf of law firm Cooper Hart Leggerio & Whitehead PLLC. The firm will continue to occupy 15,836 square feet at 2202 Timberloch Place in The Woodlands. Rob Banzhaf and Ryan Dierker of Newcor represented the tenant in the lease negotiations. Lisa Hughes of The J. Beard Real Estate Co. represented the landlord, Timberloch Inc.

September 11, 2017

Texas

Harris County Criminal Justice Building Sustains Millions of Dollars in Damage

by Taylor Williams September 8, 2017

HOUSTON — The Harris County criminal justice center in Houston has sustained severe flood-related damage from Hurricane Harvey. Each of the building’s 20 stories received some degree of damage, and the property will be closed indefinitely. According to the Houston Business Journal, several million dollars worth of repairs will be needed. As a result of the damage, the county has decided that all criminal district courts hearing felony cases, as well as all county courts-at-law hearing Class A and B misdemeanor cases, will be moved to different locations.

September 8, 2017

Loans Mixed-Use Texas

Southside Bank Provides $36.8M Construction Loan for Mixed-Use Project in College Station

by Taylor Williams September 8, 2017

COLLEGE STATION, TEXAS — Southside Bank has provided a $36.8 million loan to Stratus Properties Inc. for the construction of Jones Crossing, a 258,000-square-foot mixed-use property in College Station. The project will be anchored by a 106,000-square-foot H-E-B store and will include 47,250 square feet of village-style retail space, eight pad sites, up to 600 multifamily units and a 120-room hotel. Stratus began construction on Jones Crossing’s first two phases this week. Loan terms were not disclosed.

September 8, 2017

Multifamily Texas

ARA Newmark Arranges Sale of Newly Built Apartment Community in Carrollton

by Taylor Williams September 8, 2017

CARROLLTON, TEXAS — ARA Newmark has arranged the sale of Keller Springs Crossing, a 304-unit apartment community located at 3221 Keller Springs Road in the Dallas metro of Carrollton. Built in 2015, the property consists of a mix of one-, two- and three-bedroom units and offers amenities such as a pool, fitness center and a dog park. The buyer, seller and brokers of record for the transaction were not disclosed.

September 8, 2017

Industrial Office Texas

J. Beard Brokers Sale of Two Flex Assets Totaling 119,675 SF in Houston

by Taylor Williams September 8, 2017

HOUSTON — The J. Beard Real Estate Co. has brokered the sale of two office/warehouse properties totaling 119,675 square feet in Houston. The flex properties are situated on 16.7 acres at 12450 and 12452 Cutten Road. Jeff Beard of The J. Beard Co. represented the buyer, Downhole Technology, a provider of hydraulic fracturing plugs. Cape Bell and Allison Hall of Cushman & Wakefield represented the seller, Northwest Real Estate Holdings LLC.

September 8, 2017

Loans Multifamily Texas

MCA Arranges $10.5M in Refinancing for Apartment Community in Dallas

by Taylor Williams September 8, 2017

DALLAS — Metropolitan Capital Advisors Ltd. (MCA) has arranged $10.5 million in refinancing for La Hacienda Apartments, a multifamily community located at 1198 N. St. Augustine Drive in Dallas. Justin Laub of MCA arranged the 12-year Fannie Mae loan, which features a 30-year amortization schedule, on behalf of the undisclosed borrower. The loan proceeds will provide a cash-out of the borrower’s equity in the asset.

September 8, 2017

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