AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 6,101-square-foot office lease at 12710 Research Blvd. in Austin. Matt Levin, Rebecca Zigterman and Jason Steinberg of ECR represented the landlord in the lease negotiations. Chad Jewell of Austin Office Space represented the undisclosed tenant.
DALLAS — BMC Capital has arranged a $3.8 million acquisition loan for a 94-unit multifamily property in Dallas. The three-year loan, which features a 4.3 percent interest rate and a 30-year amortization schedule, was arranged through one of BMC Capital’s correspondent agency relationships. Other terms of the transaction were not disclosed.
SEATTLE AND AUSTIN, TEXAS — Amazon (NASDAQ: AMZN) has officially closed its $13.7 billion acquisition of Whole Foods Market. The first order of business for the e-commerce giant is making the Austin-based grocer’s high-quality and organic food more affordable for its shoppers. Beginning yesterday, Whole Foods Market now offers lower prices on selected grocery staples across its stores, with more to come. These include fair-trade bananas, organic avocados, organic large brown eggs, organic salmon and tilapia, organic baby kale and baby lettuce, animal-welfare-rated 85 percent lean ground beef, creamy and crunchy almond butter, organic Gala and Fuji apples, organic rotisserie chicken and organic butter. “We’re determined to make healthy and organic food affordable for everyone,” said Jeff Wilke, CEO of AmazonWorldwide Consumer, in a statement. “We will lower prices without compromising Whole Foods Market’s long-held commitment to the highest standards.” Due to Amazon’s reputation and ability to deliver on its promises, other grocers are watching closely as Whole Foods transitions to the new model, according to Rick Scardino, principal of Lee & Associates’ Chicago office. “Most grocers will be concerned for obvious reasons as to Amazon’s plan to lower pricing because that will shrink already tight margins in the grocery …
FRISCO, TEXAS — Omni Hotels & Resorts and the Dallas Cowboys have officially cut the ribbon for the Omni Frisco Hotel, a 16-story hotel in Frisco. Situated within The Star development, the 300-room hotel in Frisco officially opened in July and features dining outlets including Neighborhood Services, Edge Bar and Lobby Bar. Gensler is the architect of record, and Wilson Associates consulted on the project. The hotel features 24,000 square feet of meeting space, including a 13,000-square-foot ballroom. The floor-to-ceiling windows offer expansive views of The Star, the Dallas Cowboys’ practice fields and the Championship Plaza.
BRENHAM, TEXAS — Servitas LLC, a privately owned student housing developer based in Dallas, has broken ground on a new 464-bed, four-story residence hall at Blinn College, a two-year school in Brenham with more than 19,000 students. Situated at the corner of Seager Street and Old Mill Road, the property will feature approximately 9,000 square feet of common space, including study spaces, an outdoor courtyard and an engineering classroom. Houston-based Kirksey Architecture is designing the project, and El Paso-based Moss & Associates is the general contractor. Servitas expects for students to be able to move in by fall 2018. Raymond James Financial is completing financing for the project on behalf of Servitas.
AUSTIN, TEXAS — ARA Newmark has arranged the sale of 7East, a new 186-room midrise apartment community in east Austin. Pat Jones of ARA Newmark represented the sellers, Stonelake Capital Partners and Ardent Residential, in the transaction. The buyer was GF Properties Group, a wholly owned subsidiary of the Southern Ute Indian Tribe Growth Fund. Situated on 1.9 acres near downtown Austin, 7East includes a rooftop lounge and clubroom, resort-style pool, 24-hour fitness center, business center with Apple computers and conference room and a leash-free dog park. Unit interiors feature up to 10-foot ceilings, open-concept gourmet kitchens, spa-inspired bathrooms, oversized walk-in closets and downtown views in select units.
HURST, TEXAS — Marcus & Millichap has brokered the sale of a 22,066-square-foot retail property located at 740 W. Pipeline Road in Hurst, roughly 25 miles west of Dallas. At the time of sale, the multi-tenant property was leased to Advance Auto Parts, America’s Best Contacts & Eyeglasses and Dollar Tree. Built in 2015, the center is adjacent to a Walmart Neighborhood Market. Geoff Ficke and Chris Adams of Marcus & Millichap represented the seller, a limited liability company. Mike James and Tony Michael Anderson of Marcus & Millichap’s Encino, Calif., office procured the buyer, an individual/property trust.
HOUSTON — NAI Partners has negotiated a 21,263-square-foot office lease renewal at Brookhollow Central II, located at 2900 N. Loop West in Houston. Dan Boyles and Liz Westcott-Brown of NAI Partners represented the tenant, Houston-based law firm Lorance & Thompson PC. Brian Strait of Lincoln Property Co. represented the landlord, Parmenter Brookhollow LLC, during the negotiations.
DESOTO, TEXAS — Dallas-based construction firm ARCO/Murray has completed a 145,000-square-foot warehouse project in the Dallas metro of DeSoto for SEW Eurodrive, a South Carolina-based motor manufacturing firm. Construction on the $10 million facility, which also includes 20,000 square feet of office space, began in June 2016. The property is a fully conditioned tilt-wall assembly plant with 28-foot clear heights, including bridge cranes, paint booths and mezzanine storage.
SUGAR LAND, TEXAS — Greystar has completed Overture Sugar Land, a 55-and-older multifamily rental community located in the Houston metro of Sugar Land. The property offers a mix of one- and two-bedroom units ranging in size from 676 to 1,215 square feet. Amenities of the four-story facility include a coffee bar and bistro, fitness center with yoga studio, a gaming room and a resort-style pool.
