Texas

trademark-property-westside-ventures-katy

Trademark to Develop 82-Acre Mixed-Use Project in Metro Houston

by Haisten Willis September 30, 2016

KATY, TEXAS — Trademark Property Co. has entered into an agreement with Westside Ventures to develop an 82-acre mixed-use development at the northwest corner of I-10 and Mason Road in Katy. Planning will continue in the coming months for the initial 60-acre phase, which will include retail, restaurant, residential, hotel and office space. The site, which is part of a larger 107-acre tract owned by Westside Ventures, will be developed in phases over several years. Phasing and a construction timeline will be scheduled following planning.

September 30, 2016

Retail Texas

Academy Sports + Outdoors Opens in Valley Ranch Town Center

by Haisten Willis September 30, 2016

THE WOODLANDS, TEXAS — Academy Sports + Outdoors is now open in Valley Ranch Town Center, a 240-acre retail district located at the intersection of I-69 and the Grand Parkway. Academy is situated in the 1,400-acre master-planned community of Valley Ranch just north of Kingwood, a development of The Signorelli Co. and is the first of over 85 stores and restaurants expected to open in Valley Ranch Town Center. This is the 95th location for Katy-based Academy Sports + Outdoors, and is expected to employ about 100 people. Houston-based Arch-Con is the contractor for the 63,000-square-foot store.

September 30, 2016

Retail Texas

DIG Brokers Sale of Three Retail Properties for $16M

by Haisten Willis September 30, 2016

HURST and SPRING, TEXAS — Disney Investment Group (DIG) has brokered the $16 million sale of three retail properties in Texas. The properties are: Sprouts Crossing in Hurst. The Class A grocery-anchored center totals 60,706 square feet and is anchored by Sprouts. The property was 75 percent occupied at the time of closing. Austin-based EPIC Real Estate Partners purchased Sprouts Crossing; Wellington Place in Hurst. The unanchored shopping center totals 17,327 square feet. Wellington Place is adjacent to Sprouts Crossing and was acquired by the same buyer. EPIC will facilitate a redevelopment and expansion of Sprouts Crossing with the Wellington acquisition; Walgreens in Spring. The single tenant, net leased property is leased to. A private buyer utilizing a 1031 tax-deferred exchange purchased the asset. David Disney and Adam Crockett of DIG represented the sellers and procured the buyers for each property, excluding the seller of Wellington Place.

September 30, 2016

Multifamily Texas

M&M Arranges Sale of 80-Unit Apartment Building in Houston

by Haisten Willis September 30, 2016

HOUSTON — Marcus & Millichap has arranged the sale of Colonial Oaks Apartments, an 80-unit apartment property located in Houston. Juan Cuevas and Lucas Fertitta of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Cuevas and Fertitta also secured and represented the buyer, a limited liability company. Colonial Oaks Apartments is located at 3940 South Shaver St.

September 30, 2016

Office Texas Top Stories

Gaedeke Buys 17Seventeen Office Tower in Uptown Dallas

by Jeff Shaw September 30, 2016

DALLAS — Gaedeke Holdings XIV Ltd. has purchased 17Seventeen, a 369,017-square-foot office tower in Dallas’ Uptown/Turtle Creek submarket, for an undisclosed price. The 19-floor building includes a 22-story LED illuminated light panel. The property also features a one-acre amenity deck, 1,096-space attached parking garage and views of Klyde Warren Park and the Arts District. Located at 1717 McKinney Ave., 17Seventeen was developed in 2010 on a 2.1-acre tract. Stephan Pyles’ Stampede 66 is the property’s trademark restaurant. Gaedeke acquired the 98 percent-leased property from a joint venture between Granite Properties Inc. and MetLife. 17Seventeen features 361,524 square feet of Class A office space and 7,493 square feet of retail space. Dan Yates of Gaedeke will oversee the building’s new on-site property management team.

September 30, 2016

el-pollo-loco386-east-stacy-road-allen-texas

Restaurant Retail Texas

Capital Pacific Negotiates $3.2M Sale of El Pollo Loco in Allen

by Haisten Willis September 30, 2016

ALLEN, TEXAS — Capital Pacific has represented the seller of an El Pollo Loco located at 386 E. Stacy Road in Allen. The property was sold for $3.2 million to an all-cash investor from California utilizing a 1031 tax-deferred exchange. The El Pollo Loco is on a 20-year net lease with rent increases every five years.

September 30, 2016

Industrial Texas

Liberty Property Trust Purchases Land in Dallas for Future Industrial Development

by Haisten Willis September 29, 2016

DALLAS — JLL has negotiated the acquisition of 88 acres of land situated within Mountain Creek Business Park in Dallas on behalf of Liberty Property Trust. JLL’s Kurt Griffin and Nathan Orbin negotiated the sale. Liberty Property Trust plans to build two distribution buildings on the site. The first is a 752,760-square-foot, Class A distribution facility that will be built on 55 acres. The second is a 460,620-square-foot, Class A cross-dock building that will be situated on 32 acres. Mountain Creek Business Park, a master-planned, 410-acre business park, is located in southwest Dallas at Mountain Creek Parkway and I-20. Tenants include Jack in the Box, Costco, Nestle, Niagara Bottling, Ulta Beauty and Kimberly Clark.

September 29, 2016

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Loans Multifamily Texas

Greysteel Secures Permanent Financing for Little Creek Apartments in Metro Dallas

by Haisten Willis September 29, 2016

CEDAR HILL, TEXAS — Greysteel has secured the refinancing of Little Creek Apartments, a multifamily property located in Cedar Hill, on behalf of Little Creek Apts LLC. The 20-year, non-recourse loan includes a 30-year amortization schedule and three years of interest-only payments. The loan was provided by an agency lender under Freddie Mac’s small balance loan program and features a fixed interest rate for the first 10 years followed by a floating-rate period for the other 10 years. Greysteel’s Anton Mattli and John Marshall Doss negotiated the transaction. Little Creek Apartments is located at 151 Little Creek Road and totals 66 units.

September 29, 2016

Healthcare Office Texas

Mycon General Contractors Completes Construction of Freestanding Emergency Room in Metro Dallas

by Haisten Willis September 29, 2016

ROWLETT, TEXAS — Mycon General Contractors has completed construction of the First Choice Emergency Room (FCER), located at 3301 Lakeview Parkway on a 0.8-acre tract in the Dallas suburb of Rowlett. FCER is a network of independent freestanding emergency rooms, and is an Adeptus Health company. The 6,931-square-foot facility houses diagnostic and radiology suites, including CT scanners, ultrasound and digital X-rays, exam rooms, a nurse’s station and laboratory. The project team includes real estate developer PM Realty Group and architect GSR Andrade Architects. Metropolitan Capital Advisors arranged $5.1 million in construction financing through Happy State Bank. FCER in Rowlett officially opened last month.

September 29, 2016

Loans Multifamily Texas

BMC Capital Arranges $6M Refinancing Loan for Multifamily Property in Dallas

by Haisten Willis September 29, 2016

DALLAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $6 million loan for the refinancing of CrestView Apartments, a multifamily property located in Dallas. The loan features a fixed 4.8 percent interest rate for five years, with 18 months of interest-only payments and a 25-year amortization schedule. The loan was secured through one of BMC Capital’s correspondent banking relationships.

September 29, 2016

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