Texas

HFF Arranges Sale of 207,562 SF Office Building in Houston

by Taylor Williams November 9, 2017

HOUSTON — HFF has arranged the sale of Norfolk Tower, a 207,562-square-foot office building located at 2211 Norfolk St. in Houston. The 11-story tower was 83 percent leased at the time of sale. Dan Miller and Martin Hogan of HFF represented the seller, Boston-based TA Realty, and procured the buyer, Houston-based Nitya Capital. Susan Hill and Kelly Layne of HFF secured an undisclosed amount of acquisition financing for Nitya, which plans to invest in capital improvements and rebrand the building as Nitya Tower.

November 9, 2017

NAI Robert Lynn Brokers Sale of 82,960 SF Industrial Building in Richardson

by Taylor Williams November 9, 2017

RICHARDSON, TEXAS — NAI Robert Lynn has brokered the sale of an 82,960-square-foot industrial building located at 1301 Apollo Road in the northeastern Dallas metro of Richardson. Michael Stanzel of NAI Robert Lynn represented the undisclosed seller in the transaction. Craig Phelps of JLL represented the buyer, Baker Drywall Investments LLC.

November 9, 2017

Office Texas

Crescent, Long Wharf Break Ground on 105,000 SF Office Project in Dallas

by Taylor Williams November 8, 2017

DALLAS — Dallas-based development firm Crescent Real Estate and Boston-based investment firm Long Wharf Capital have broken ground on The Luminary, a 105,000-square-foot office project located in the West End area of Dallas. Upon completion, the Class A property will offer 462 parking spaces and 52 bike racks, as well as a rooftop terrace. The opening is currently scheduled for early 2019, according to D Magazine. JLL will handle leasing of the property.

November 8, 2017

Industrial Texas

LT Foods Acquires 49,778 SF Industrial Facility in Metro Houston

by Taylor Williams November 8, 2017

MISSOURI CITY, TEXAS — LT Foods USA, a California-based importer and distributor of grains, teas and oils, has acquired a 49,778-square-foot industrial facility located at 14523 Fairway Pines Drive in Missouri City, a southwestern suburb of Houston. Built in 2009, the Class A property features 14 dock-high doors, 24-foot clear heights and about 4,500 square feet of office space. Jarret Venghaus and Jeff Venghaus of JLL represented LT Foods USA in the sale, other terms of which were not released.

November 8, 2017

Loans Multifamily Texas

Dougherty Arranges $8M Acquisition Loan for Apartment Community in Metro Dallas

by Taylor Williams November 8, 2017

BALCH SPRINGS, TEXAS — Dougherty Mortgage LLC has arranged an $8 million loan for the acquisition of Ambassador Apartment Homes, a 136-unit multifamily community in Balch Springs, an eastern suburb of Dallas. The Fannie Mae loan was arranged through a partnership with Old Capital Lending on behalf of the borrowers: CAKI Real Estate LLC, Florescence LLC, Fordgang Properties II LLC and Frisco Bulldog Properties II LLC. The loan features a 12-year term and 30-year amortization schedule.

November 8, 2017

Data Centers Industrial Texas

Colliers Brokers Sale of 16,000 SF Data Center in Metro Houston

by Taylor Williams November 8, 2017

SUGAR LAND, TEXAS — Colliers International has brokered the sale of a 16,000-square-foot data center located at 12626A Dairy Ashford Road in Sugar Land. The property offers three 15-ton chillers and is capable of producing three megawatts of power. Barkley Peschel and Trey Erwin of Colliers represented the seller, SuLiBa Investments LP, in the transaction. Cameron Hicks and Tim Thomas of Lee & Associates represented the undisclosed buyer.

November 8, 2017

Industrial Texas

NAI Partners Secures 28,000 SF Industrial Lease in Northwest Houston

by Taylor Williams November 8, 2017

HOUSTON — NAI Partners has arranged a 28,000-square-foot industrial lease at 4903 W. Sam Houston Parkway N. in northwest Houston on behalf of Advanced Control Systems LLC, a Houston-based supplier of industrial equipment. John Ferruzzo and Chris Kugle of NAI Partners represented the tenant in the lease negotiations. Doug Nicholson and Kyle Prater of Newmark Knight Frank represented the landlord, Cole Family Partnership Ten Ltd.

November 8, 2017

Industrial Texas

Duke Realty Breaks Ground on 874,566 SF Distribution Facility in Metro Dallas for Wayfair

by Taylor Williams November 7, 2017

LANCASTER, TEXAS — Duke Realty Corp. has broken ground on an 874,566-square-foot distribution facility in the Dallas metro of Lancaster for Wayfair, a Boston-based e-commerce firm specializing in furniture and home goods. The property is being built on a 47-acre site along Interstate 35 north of Wintergreen Road. Building features will include 36-foot clear heights, more than 14,000 square feet of office space, 187 trailer storage stalls and 250 automobile parking spaces. John Brewer, Ben Phillips, John Lasher and Jon Varholak of Transwestern represented Wayfair in the lease negotiations for the facility. Duke Realty was represented internally by Matt Hyman.

November 7, 2017

Multifamily Texas

Caydon Receives Financing for 357-Unit Apartment Tower in Houston

by Taylor Williams November 7, 2017

HOUSTON — Caydon, an Australian multifamily development firm, has received debt and equity financing for the development of a 357-unit luxury apartment tower in Houston. The property, which will offer one- and two-bedroom units featuring European-styled interiors, will be located at 2850 Fannin St. in the Midtown area. The amount of the financing was not disclosed, but the Houston Business Journal reports that the project has a price tag of approximately $200 million. Matthew Kafka and Dustin Selzer of HFF arranged the debt financing through Bank of the Ozarks and the equity portion through Invesco Real Estate.

November 7, 2017

Healthcare Texas

Code 3 Begins Work on 8,160 SF Freestanding ER, Urgent Care at DFW Airport

by Taylor Williams November 7, 2017

IRVING, TEXAS — Code 3 Emergency Room and Urgent Care has begun work on an 8,160-square-foot, freestanding emergency room and urgent care center at the Dallas-Fort Worth (DFW) International Airport in Irving. The facility will be situated on 1.5 acres within Southgate Plaza, a 32-acre development that houses a 137-room Hyatt Place hotel and a 154,000-square-foot office building, as well as a variety of retail and restaurant options. The facility will be equipped with a CT scanner, Ultrasound equipment, laboratory and a pharmacy. The project represents the first development of its kind at an airport property in the United States.

November 7, 2017

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