Texas

HFF Arranges Sale of 410,600 SF Distribution Center in Houston

by Taylor Williams September 21, 2017

HOUSTON — HFF has arranged the sale of Apex Distribution Center, a 410,600-square-foot, Class A industrial property in Houston’s Northwest Industrial submarket. Situated on 24.7 acres at 5750 Brittmoore Road and 10618-10634 Tanner Road, the three-building property offers access to Interstate 10, State Highway 290 and Loop 610. Trent Agnew and Rusty Tamlyn of HFF represented the seller, Dallas-based Crow Holdings Industrial, in the transaction. Toronto-based WPT Industrial REIT purchased the asset for an undisclosed price.

September 21, 2017

DIG Closes Sale of 196,630 SF Retail Power Center in Metro Dallas

by Taylor Williams September 21, 2017

LEWISVILLE, TEXAS — Disney Investment Group (DIG) has closed the sale of Lakepointe Towne Crossing, a 196,630-square-foot retail power center located at 709-735 Hebron Parkway in the Dallas metro of Lewisville. Anchored by Ross Dress for Less and Party City and shadow-anchored by Super Target, the property was 62 percent leased at the time of sale. DIG represented the seller, Retail Properties of America, in the transaction and procured the undisclosed buyer.

September 21, 2017

Retail Texas

Baker Katz Negotiates 41,500 SF Lease for AMC Theatres in Shenandoah, Texas

by Taylor Williams September 21, 2017

SHENANDOAH, TEXAS — Baker Katz has negotiated a 41,500-square-foot lease in Shenandoah, about 30 miles north of Houston, on behalf of AMC Theatres. The new, 10-screen theater will anchor the 69-acre MetroPark Square development, which is situated along Interstate 45 Frontage Road south of State Highway 242. Steve Greenberg of The Retail Connection represented the landlord in the lease negotiations. The theater is scheduled to open in early 2018.

September 21, 2017

Loans Multifamily Texas

HFF Arranges $121.6M Loan for Redevelopment of Apartment Tower in Houston

by Taylor Williams September 20, 2017

HOUSTON — HFF has arranged a $121.6 million floating-rate bridge loan for the redevelopment of The Star, a multifamily development located in downtown Houston. Upon completion, the property will feature 286 multifamily units, 26,000 square feet of retail space, 8,000 square feet of storage space and 672 parking spaces. Steve Heldenfels and Matthew Putterman of HFF arranged the loan through TPG RE Finance Trust on behalf of the borrower, Provident Realty Advisors.

September 20, 2017

Retail Texas

Lidl Buys 5.2 Acres in San Antonio for 30,000 SF Grocery Store

by Taylor Williams September 20, 2017

SAN ANTONIO — German discount grocery chain Lidl has purchased a 5.2-acre site at the intersection of Alamo Ranch and Lone Star parkways in San Antonio for the development of a 30,000-square-foot location. Construction of the property is expected to begin during the fourth quarter and wrap up during the third quarter of 2018. Gene Williams of CBRE represented the seller, Abiso Development, in the land sale. Gensler will serve as the project architect and Metropolitan Contracting as the general contractor.

September 20, 2017

Multifamily Texas

Arch Street Brokers Sale of 417-Unit Apartment Community in Metro Dallas

by Taylor Williams September 20, 2017

EULESS, TEXAS — Arch Street Capital Advisors, a Connecticut-based investment advisory firm, has brokered the sale of Suite 2801, a 417-unit apartment community located in the Dallas metro of Euless. Built in 2013, the Class A property offers a mix of one-, two- and three-bedroom units and amenities such as two pools, a fitness center and a residential clubhouse. Arch Street represented the buyer, a joint venture between an institutional investor and Atlanta-based Cortland Partners, in the transaction

September 20, 2017

Office Texas

Stream Negotiates 15,198 SF in Office Leases in Dallas

by Taylor Williams September 20, 2017

DALLAS — Stream Realty Partners has negotiated two office leases totaling 15,198 square feet at 5050 Quorum Drive in Dallas. Ryan Evanich, Chase Lopez and Jackie Smith of Stream represented the landlord, New York-based DRA Advisors, in its lease negotiations with the new tenants, Josh DeShong Real Estate and law firm Pratt, Aycock & Associates PLLC. The two firms will occupy the sixth floor of the building, which DRA Advisors recently renovated to feature an on-site fitness center, conference center and a tenant lounge.

September 20, 2017

Industrial Texas

Titan Developers Acquires 25,000 SF Flex Property in Metro Austin

by Taylor Williams September 20, 2017

CEDAR PARK, TEXAS — Titan Developers has acquired a 25,000-square-foot office/industrial property within Scottsdale Crossing Phase III, located at 1505 Volta Drive in the Austin metro of Cedar Park. Matt Levin of Equitable Commercial Realty (ECR) represented Titan in the transaction. The seller, TIG, was represented internally by Tom Pardee.

September 20, 2017

Loans Office Texas

HFF Arranges Refinancing of 1.2 MSF Office Tower in Houston

by Taylor Williams September 19, 2017

HOUSTON — HFF has arranged an undisclosed amount of refinancing for 700 Louisiana, a 56-story, a 1.2 million-square-foot office tower in Houston’s CBD. Cameron Cureton and John Brownlee of HFF arranged the funds on behalf of the borrower, a joint venture between Houston-based investment firm M-M Properties and an institutional capital partner. The property was 90 percent leased at the time of the loan closing. The borrower will use the funds to reconfigure the lobby and incorporate an on-site restaurant.

September 19, 2017

Retail Texas

Greatland Investments to Develop 4,000 SF Retail Property in Houston

by Taylor Williams September 19, 2017

HOUSTON — Houston-based retail developer Greatland Investments Inc. will develop a 4,000-square-foot, Class A retail property at 3215 White Oak Drive in Houston’s The Heights neighborhood. The property currently houses a car wash, the lease of which will expire at year’s end, as well as a multifamily rental complex and a single-family home. NewQuest Properties is handling leasing of the development, construction of which is slated to begin during the first quarter of 2018.

September 19, 2017

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