Texas

Hunt Southwest Delivers 300,000 SF Spec Industrial Building in Fort Worth

by Katie Sloan October 14, 2016

FORT WORTH, TEXAS — Hunt Southwest Real Estate Development, a Dallas-based developer owned by the Lamar Hunt family, has delivered Riverbend West, a 300,000-square-foot speculative industrial facility in Fort Worth. The Class A warehouse/distribution center is located at 2101 Reeves Place and features 32-foot clear heights, LED lighting, cross-dock configuration, an ESFR sprinkler system, a truck court, skylights and parking for trailers. Riverbend West is the first development for Hunt Southwest, which plans to break ground in December on a new 650,000-square-foot warehouse and distribution center in the north Fort Worth area. Hunt Southwest has selected Donnie Rohde, Chance Olin and George Jennings of Holt Lunsford Commercial to handle Riverbend West’s leasing assignment.

October 14, 2016

Buchanan Street Partners Sells The Pyramid Office Building in San Antonio

by Katie Sloan October 13, 2016

SAN ANTONIO — Buchanan Street Partners has sold The Pyramid, a 220,693-square-foot, Class A office building located in San Antonio. Taurus Investment Holdings acquired the property. The building was 87 percent occupied at the time of sale. Among the tenants are the General Services Administration; law firm Davidson Troilo Ream & Garza; Experian; design consultant Kimley-Horn & Associates; and insurance brokerage firm Arthur J. Gallagher & Co. HFF marketed the property on behalf of the seller and secured floating-rate acquisition financing for the new buyer through the Austin office of Independent Bank.

October 13, 2016

Healthcare Office Texas

Magnolia Medical Tower Trades Hands in Fort Worth

by Katie Sloan October 13, 2016

FORT WORTH, TEXAS — Velocis has sold Magnolia Medical Tower, an 89,991-square-foot medical office building located in Fort Worth, to Ridgeline Magnolia MOB LP. Velocis acquired the property in 2012 and invested $1.5 million in property renovations, including substantial upgrades to all six floors of the building and the parking garage. The property is located adjacent to Baylor All Saints Medical Center at 1603 Mistletoe Blvd. Lee Asher, Chris Bodnar and Austin Barrettin of CBRE represented the seller in the transaction.

October 13, 2016

Multifamily Seniors Housing Texas

Pioneer Realty Capital Arranges $7.2M Refinancing for Seniors Housing Community in Princeton

by Katie Sloan October 13, 2016

PRINCETON, TEXAS — Pioneer Realty Capital LLC, a Texas-based lender, has arranged a $7.2 million refinancing for Villa Asuncion Independent and Assisted Living Center in the Dallas suburb of Princeton. The 176-bed community opened in 1998. Pioneer Realty Capital used the government-backed SBA 504 refinance program to secure long-term financing. The new loan reduces the interest rate from 7.2 percent to a blended rate of 4.25 percent. The undisclosed owners plan to use the extra funds to expand the business.

October 13, 2016

Retail Texas

Agree Realty Acquires 84,584 SF Retail Property in Port Arthur

by Katie Sloan October 13, 2016

PORT ARTHUR, TEXAS — Agree Realty Corp. has acquired an 84,584-square-foot, net-leased retail property located in Port Arthur. The fully occupied center was renovated in 2014 and is home to tenants including Hobby Lobby, Party City and PetSmart. Ryan West and Matt Berry of HFF represented the seller, Baker Katz, in the transaction.

October 13, 2016

Hospitality Texas

Hunter Hotel Advisors Brokers Sale of Two Hotels in Northwest Austin

by Katie Sloan October 13, 2016

AUSTIN, TEXAS — Hunter Hotel Advisors has arranged the sale of two hotels in Austin: the 80-room StayBridge Suites Austin Northwest, and the 82-room Fairfield Inn & Suites Austin Northwest. Hunter Hotel’s Los Angeles office represented the seller, Excel Hotel Group, in both transactions. The buyer of both assets was an unnamed opportunity fund based in New York. The buyer plans to invest $1 million in the Staybridge Suites hotel, which was built in 2009. The Fairfield Inn was built in 2014. Hunter’s Los Angeles office arranged the sale of six hotels in the third quarter and has at least five sales scheduled to close this quarter.

October 13, 2016

Industrial Texas

Adler Kawa Real Estate Acquires 296,781 SF of Industrial Space in Austin

by Katie Sloan October 12, 2016

AUSTIN, TEXAS — Adler Kawa Real Estate Advisors has acquired five single-story industrial buildings known as Kramer 1-5 at Braker Center in Austin. The buildings total 296,781 square feet and feature 21-foot clear heights and floor plans that accommodate office, warehouse, production and showroom space. Hale Umstattd and Leah Gallagher of Transwestern represented the undisclosed seller in the transaction. Davis Bass of HPI Real Estate Services & Investments will remain in charge of leasing. PNC Bank provided financing for the acquisition.

October 12, 2016

Multifamily Texas

One Uptown High-Rise Apartment Tower to Open in Dallas

by Katie Sloan October 12, 2016

DALLAS — Stoneleigh Cos. and USA Infrastructure Investments will open One Uptown, a 196-unit high-rise apartment tower in Uptown Dallas, in January 2017. The project, located on McKinney Avenue, will offer units with private balconies, floor-to-ceiling glass windows, washers and dryers and large walk-in closets with Elfa closet shelving systems. Community amenities will include a rooftop pool, a 9,000-square-foot sky deck and lounge, a relaxation zone with a fire pit, a demonstration kitchen, cabanas, a private fitness studio, an entertainment room, and two hospitality suites for out-of-town guests. The tower will also feature more than 18,000 square feet of restaurant space occupied by Circo, a five-star European restaurant, and Fogo de Chão, a Brazilian steakhouse. Dallas-based architect Phil Shepard designed the development.

October 12, 2016

Retail Texas

Planet Fitness to Open at Weslaco Shopping Center in Southern Texas

by Katie Sloan October 12, 2016

WESLACO, TEXAS — Planet Fitness plans to open a 19,413-square-foot gym at Weslaco Shopping Center in Weslaco in early 2017. The retail center, located at 1901 W. U.S. Route 83 in southern Texas, is managed by Cencor Realty Services. Tenants at the center include Ross Dress for Less, Bealls, Starbucks Coffee, Dollar Tree and Buffalo Wild Wings. Marcus Shaffer and Dan Mitchell of The Weitzman Group handled negotiations on behalf of the landlord.

October 12, 2016

Retail Texas

Cohen Financial Arranges $5.2M in Financing for Two Retail Centers in Dallas-Fort Worth Metro Area

by Katie Sloan October 12, 2016

FORT WORTH AND SOUTHLAKE, TEXAS — Cohen Financial has arranged two loans totaling $5.2 million to refinance two retail centers in the Dallas-Fort Worth area. The transactions included a $4.1 million loan for La Marina Plaza, a 30,000-square-foot retail center in Fort Worth anchored by Texas Health Resources, and a $1.1 million loan for Southlake Plaza, a 9,800-square-foot retail center in Southlake. Kevin Sellers of Cohen Financial’s Phoenix office secured the two fixed-rate, three-year loans through Commerce National Bank on behalf of the borrower, a local commercial real estate investor. The borrower plans to market and sell both assets within two years.

October 12, 2016

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