Texas

JLL Negotiates 30,102 SF Office Lease in Houston

by Haisten Willis September 6, 2016

HOUSTON — JLL has secured an anchor tenant at 1885 Saint James Place, a Class A office building in Houston. Houston-based construction law firm Andrews Myers P.C. will relocate from its current office at 3900 Essex Lane to the top two floors of 1885 Saint James Place. The company signed for 30,102 square feet, encompassing the 14th and 15th floors of the building. Craig Hausman and Tony Allen of Pollan Hausman Real Estate Services LLC represented Andrews Myers in the transaction. JLL’s Chrissy Wilson and Russell Hodges represented the landlord, 1885 St. James Place Partners LP, in the transaction. The building is 27 percent leased. Construction was completed this summer on the 165,000-square-foot office building located south of the Tanglewood neighborhood. The building features nine floors of office space situated atop six floors of above-grade parking. The property’s amenities include a fitness center, conference center, food service, on-site security, on-site property management and covered, in-building parking for all employees.

September 6, 2016

Lee & Associates Arranges Sale of Office/Warehouse Building in Metro Houston

by Haisten Willis September 6, 2016

LEAGUE CITY, TEXAS — Lee & Associates’ Houston office has arranged the sale of a 9,000-square-foot office/industrial building at 2227 Gulf Freeway S. in League City, a suburb of Houston. The buyer was KSSG 646 Investments LLC. Mike Spears and Thomas Leger of Lee & Associates represented the seller, Sanberg Investments, in the transaction.

September 6, 2016

Loans Restaurant Retail Texas

BMC Secures $1M Loan for Dunkin’ Donuts in Amarillo

by Haisten Willis September 6, 2016

AMARILLO, TEXAS — BMC Capital has secured a $1 million acquisition loan for a net-leased Dunkin’ Donuts store in Amarillo. The five-year loan includes a 25-year amortization schedule, 70 percent loan-to-value ratio and a 4.25 percent fixed interest rate. The lender and borrower were unnamed.

September 6, 2016

Loans Multifamily Retail Texas

LMI Capital Closes Four Transactions Totaling Over $30M in Metro Houston

by Haisten Willis September 2, 2016

HOUSTON — Jamie Mullin of LMI Capital has arranged permanent financing for the acquisition and refinancing of three garden-style apartment complexes and one shopping center in the Houston area. In the first transaction, Mullin originated a 10-year, fixed-rate CMBS loan for a 200-unit asset in southeast Houston. The first mortgage loan featured a three-year, interest-only period and proceeds were for 75 percent of the purchase price. In the second transaction, Mullin arranged a refinancing loan for a 390-unit asset in the Alief submarket. The $11.4 million, 10-year Fannie Mae financing included a 3.9 percent interest rate with a three-year, interest-only period. The capital provided the borrower with over $2.5 million in cash out proceeds, which will be used for future acquisitions. In the third transaction, Mullin placed a $10 million, 10-year CMBS loan for a 60,000-square-foot shopping center located in southwest Houston. The loan featured one year of interest-only payments, minimal closing costs, a 4.4 percent interest rate and returned over $3 million of equity back to the borrower. Subsequent to their acquisition nine years ago, the owners spent over $3.5 million improving the center. The final transaction was a refinancing loan placed with a national bank for a 120-unit …

September 2, 2016

Industrial Texas

Sealy Acquires 1.5 MSF Industrial Portfolio in Dallas

by Haisten Willis September 2, 2016

DALLAS — Sealy & Co. has acquired a 1.5 million-square-foot industrial portfolio located in four submarkets in Dallas. The industrial portfolio is comprised of 18 buildings occupied by a diverse tenant base. The assets were acquired as part of the Sealy Strategic Equity Partners LP portfolio. The seller in the transaction was undisclosed.

September 2, 2016

Industrial Texas

Lee & Associates Negotiates 120,483 SF Industrial Sale in Metro Dallas

by Haisten Willis September 2, 2016

CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 120,483-square-foot industrial building located at 2425 Camp Ave. in Carrollton. Nathan Denton, Adam Graham and Corbin Blount of Lee & Associates’ Dallas/Fort Worth office represented the seller, Evergreen Properties. Ryan Boozer and Todd Poticny of Stream Realty Partners LP represented the buyer, UT Vehicle.

September 2, 2016

Retail Texas

Bright Realty Brokers Leases for 11 Spirit Halloween Stores

by Haisten Willis September 2, 2016

LEWISVILLE, TEXAS — Bright Realty has brokered leases for 11 Spirit Halloween stores totaling 118,914 square feet. Most of the stores are located in the Dallas area, including locations in Allen, Arlington, Dallas, Desoto, Garland and Lewisville. Two of the stores are in Tyler, one is in Wichita Falls and one is in Oklahoma. The leases range in size from a 5,437 square-foot store in Fort Worth to a 30,000-square-foot store in Lewisville. Timothy McNutt and Britton Lankford of Bright Realty represented Spirit Halloween in the transactions.

September 2, 2016

Multifamily Texas

M&M Arranges Sale of 176-Unit Apartment Community in Bryan

by Haisten Willis September 2, 2016

BRYAN, TEXAS — Marcus & Millichap has arranged the sale of Quail Hollow, a 176-unit multifamily property in Bryan. Joe James and Kent Myers of Marcus & Millichap represented the seller and procured the buyer. Built in 1982, the property is located at 3535 Plainsman Lane in Bryan, two miles from Texas A&M University. The university’s shuttle bus stops at the property every 20 minutes. Blinn College, a two-year academic institution, is within 1.5 miles of the property. Apartments at Quail Hollow average 842 square feet and feature high-speed Internet, extended cable in every room and screened-in patios and balconies. Both parties in the transaction were undisclosed.

September 2, 2016

Market Reports Retail Texas Texas Market Reports

The Prospect for Major Retail Expansion in the Rio Grande Valley is Predictable

by Haisten Willis September 2, 2016

Last summer, NAI Rio Grande Valley and Michael Uhrbrock, senior vice president of research at the University of Texas Rio Grande Valley, examined eight Rio Grande Valley cities to examine the history of retail sales between 2002 and 2014 and to forecast the future. The cities examined were McAllen, Brownsville, Harlingen, Edinburg, Pharr, Weslaco, Mission and Mercedes. We were working on a piece for the Rio Grande Valley Partnership’s Economic Development magazine. What we learned is quite interesting and presents an unusual view into the future potential for retail expansion in the Rio Grande Valley. Total retail sales in the eight cities increased $4.47 billion between 2002 and 2014. Forecasting the future required a view of low, median and high ranges of potential sales. Based on the high projections, it is anticipated that valley sales in these cities will increase by $13.68 billion between 2015 and 2030. A number of factors go into the results, but several factors are expected contribute to the expected increases. Growth in Many Sectors With 1,450,000 residents, the population of the Rio Grande Valley today is larger than that of nine states. Forecasts show the population will grow to 2.5 million by 2040, which does …

September 2, 2016

Space-Station-Self-Storage-League-City-Texas

Industrial Texas

Bellomy Arranges Sale of Space Station Self Storage in Metro Houston

by Haisten Willis September 1, 2016

LEAGUE CITY, TEXAS — Bellomy & Co. has arranged the sale of Space Station Self Storage in League City, 20 miles southeast of Houston. The Class A facility consists of 674 units and 77,980 square feet on 5.4 acres. The property, built in 2009, was 85 percent occupied at the time of closing. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. marketed the property on behalf of the Houston-based seller. The trio also procured the buyer, Public Storage, which is the largest self-storage operator in the United States and Europe with more than 2,000 facilities.

September 1, 2016

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