Texas

JLL Negotiates Six Office Leases Totaling 26,000 SF in Houston

by Taylor Williams November 7, 2017

HOUSTON — JLL has negotiated six office leases totaling approximately 26,000 square feet at 1885 Saint James Place in Houston. Notable leases include Houston-based commodities brokerage firm Sage Refined Products Ltd. leasing of 7,391 square feet; Alabama-based law firm Lightfoot, Franklin & White LLC easing of 5,700 square feet and boutique advisory firm Detring Energy Advisors leasing of 4,234 square feet. Chrissy Wilson and Russell Hodges of JLL represented the landlord, 1885 St. James Place Partners LP, in each lease negotiation. The property is now more than 50 percent leased.

November 7, 2017

Peloton Secures Two Office Leases Totaling 18,370 SF in Austin

by Taylor Williams November 7, 2017

AUSTIN, TEXAS — Peloton Commercial Real Estate has secured a pair of office leases totaling 18,370 square feet within Ladera Bend, a 158,407-square-foot office development located at 7300 Ranch Road 2222 in Austin. North Carolina-based staffing firm Orion ICS LLC leased 11,193 square feet and San Antonio-based software firm Triple Aim Ventures LLC leased 7,177 square feet. Matt Frizzell and Brian Liverman of Peloton represented the landlord in both lease negotiations. Doug Brock of Newmark Knight Frank and Zach Ellis of Colliers International represented Orion ICS and Triple Aim Ventures, respectively.

November 7, 2017

Healthcare Texas

McCarthy Begins $150M Expansion of Healthcare Campus in Oklahoma City

by Taylor Williams November 6, 2017

OKLAHOMA CITY — McCarthy Building Cos. Inc. has begun work on a $150 million expansion of Oklahoma Heart Healthcare’s south campus in Oklahoma City. The project will deliver a six-story, 228,338-square-foot hospital tower on the campus’ west side, which will be occupied by healthcare provider Mercy. That building will offer 44 patient beds, eight cardiac care unit beds, two inpatient pharmacies, imaging and surgery areas and a chapel. The project will also deliver surface parking, a helipad and a 180-space parking garage. Completion is currently scheduled for 2020.

November 6, 2017

Industrial Texas

Mohr Capital Sells 422,819 SF Industrial Facility in Denton

by Taylor Williams November 6, 2017

DENTON, TEXAS — Dallas-based investment firm Mohr Capital has sold a 422,819-square-foot industrial facility situated on 30 acres at 2800 Airport Road in Denton. The property is 100 percent leased to The ESAB Group, a provider of welding supplies. Adam Herrin of HFF represented Mohr Capital in the sale. New York-based private equity firm New Mountain Capital purchased the property for an undisclosed price.

November 6, 2017

Retail Texas

Floor & Decor to Open 77,958 SF Store, Design Center in Austin

by Taylor Williams November 6, 2017

AUSTIN, TEXAS — Floor & Decor will open a 77,958-square-foot store and design center within Shops at Tech Ridge, a 504,153-square-foot retail center located at the intersection of Interstate 35 South and Parmer Lane in Austin. About 40 employees will work in the store, the grand opening of which is scheduled for Thursday, Nov. 9. Floor & Decor is an Atlanta-based provider of hard-surface flooring supplies.

November 6, 2017

Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 242-Unit Self-Storage Facility in College Station

by Taylor Williams November 6, 2017

COLLEGE STATION, TEXAS — Marcus & Millichap has brokered the sale of Storage Depot, a 242-unit self-storage facility situated on 4.6 acres at 11990 Old Wellborn Road in College Station, about four miles south of Texas A&M University’s campus. Built in 1993, the property features 37,260 square feet of net rentable storage space. Nicholas Ling of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Dave Knobler of Marcus & Millichap procured the buyer, also a limited liability company. Both parties requested anonymity.

November 6, 2017

Retail Texas

Baker Katz Secures 7,300 SF Retail Lease in Montgomery, Texas

by Taylor Williams November 6, 2017

MONTGOMERY, TEXAS — Retail brokerage firm Baker Katz has secured a 7,300-square-foot retail lease at the corner of State Highway 105 and Lone Star Parkway in Montgomery on behalf of Pet Supplies Plus. Lunden McGill of Baker Katz represented the tenant in the lease negotiations. Scott Gardner of Streetwise Retail Advisors represented the landlord, Gulf Coast Commercial LLC. The store is scheduled to open in early 2018.

November 6, 2017

Features Industrial Texas Texas & Oklahoma Feature Archive

Logistics Consultant: Role of Air, Rail Transit Expands in Industrial Market

by Taylor Williams November 6, 2017

HOUSTON — As the growth of e-commerce continues, its impacts on logistics and operations within the industrial real estate sector become more significant. Recent data from supply chain consulting firm Tompkins projects that by 2020, the value of America’s cross-border e-commerce sales will be approximately $486 billion. In addition, the value of cross-border purchases via e-commerce will total about $140 billion. To meet the e-commerce demand, industrial developers will have to supply about 160 new logistics facilities spanning 800,000 square feet in top urban markets, according to Tompkins. Another 100 or so facilities in the 75,000- to 100,000-square-foot range will need to be repurposed to support delivery to secondary and tertiary markets. Distributors in the e-commerce era have long since learned to compress their supply chains and look for logistical opportunities to save on “last-mile” expenses. To that end, industrial operators are increasingly looking to air and rail transit as distribution channels. Steve Schellenberg, vice president of business development for IMS Worldwide Inc., a logistics consulting firm for the industrial real estate sector, discussed the rise of intermodal transit during the InterFace Houston Industrial conference on Oct. 31. Approximately 115 industrial real estate professionals attended the event, which was held …

November 6, 2017

Mixed-Use Texas

Developer to Build $120M Mixed-Use Project at Craig Ranch in McKinney

by Taylor Williams November 3, 2017

MCKINNEY, TEXAS — Developer Shane Jordan will build Hub 121, a 22-acre mixed-use property that will be located within the Craig Ranch development in McKinney. The first phase of the project will deliver a 40,000-square-foot restaurant park with pedestrian walkways that connect to Independent Bank’s 400,000-square-foot headquarters and the development’s 2,500-unit residential community. Phase I will also deliver a 6,500-square-foot entertainment pavilion, 20,000 square feet of retail space and 287 residential units. Construction of Phase I will begin in January 2018, with the first restaurants scheduled to open in January 2019. Phase II will deliver a 200,000-square-foot office building, additional retail space and a hotel.

November 3, 2017

Restaurant Retail Texas

Hillwood Breaks Ground on 3.5-Acre Dining, Entertainment Destination in Fort Worth

by Taylor Williams November 3, 2017

FORT WORTH, TEXAS — Hillwood has broken ground on Parkside at Alliance Town Center, a 3.5-acre dining and entertainment destination that will be located within the 900-acre AllianceTexas development in Fort Worth. Upon completion, the property will feature a live music stage and space for outdoor games. Two restaurants, Grub Burger Park and Shell Shack, have already committed to operating within the site, with more to come. Construction for the Grub Burger Park and Shell Shack locations is expected to be complete by summer 2018.

November 3, 2017

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