Texas

JLL Secures $21.3M Refinancing for 94,841 SF Retail Asset in Lubbock

by Taylor Williams October 19, 2017

LUBBOCK, TEXAS — JLL has secured $21.3 million for the refinancing of Phase II of West End, a 94,841-square-foot retail and restaurant development in Lubbock. West End features a mix of big box retailers, flagship hotels and office space. Retail tenants include Cabela’s Outpost, Nike Factory and Marshalls. Dining options include P.F. Chang’s, Chipotle, Chick-fil-A and Panera Bread. Tom Fish and Jimmy Board of JLL secured the loan through New York-based Silverpeak Argentic on behalf of GRACO Real Estate Development Inc.

October 19, 2017

Retail Texas

Momentum Indoor Climbing to Open 43,000 SF Gym in Houston

by Taylor Williams October 19, 2017

HOUSTON — Momentum Indoor Climbing, a Utah-based developer of indoor climbing gyms, will open a 43,000-square-foot facility at 2000 Edwards St. in Houston’s Washington Avenue Arts District. The grand opening is currently scheduled for Nov. 18. The gym will also offer an enclosed cardio room, yoga studio, children’s climbing areas and a social lounge. Ben Brown of retail brokerage firm Baker Katz represented the company in its lease negotiations for the new location, as well as for its preexisting facility in Katy.

October 19, 2017

Multifamily Texas

HSM Arranges Sale of 68-Unit Apartment Community in Metro Dallas

by Taylor Williams October 19, 2017

GARLAND, TEXAS — Henry S. Miller Brokerage Co. (HSM) has arranged the sale of The Hickory Apartments, a 68-unit multifamily community located at 320 S. Jupiter Road in the Dallas metro of Garland. Mark Porterfield and Robert Henry of HSM represented the seller, JMY Investments, in the transaction. Dallas-based Blackwood Investments purchased the asset for an undisclosed price. The Hickory Apartments was built in 1963 and will be renovated over the next year.

October 19, 2017

Retail Texas

IKEA to Open 290,000 SF Store in Grand Prairie on Dec. 13

by Taylor Williams October 18, 2017

GRAND PRAIRIE, TEXAS — Swedish furniture retailer IKEA will open its 290,000-square-foot store located in Grand Prairie on Wednesday, Dec. 13. The Grand Prairie location will be IKEA’s fourth in Texas, with plans to open stores in the San Antonio and Fort Worth areas in 2019 underway. Construction of the store created about 500 jobs, and approximately 250 coworkers will have joined the IKEA workforce by the time the store opens.

October 18, 2017

Multifamily Texas

High Street Tops Off 34-Story Luxury Apartment Tower in Dallas

by Taylor Williams October 18, 2017

DALLAS — High Street Residential, a subsidiary of Trammell Crow Co., has topped off Residences at Park District, a 34-story, 228-unit luxury apartment tower located near Klyde Warren Park in Dallas. The property will feature one-, two- and three-bedroom units ranging in size from 782 to 3,234 square feet, as well as 13,396 square feet of retail space. Amenities will include a fitness center with showers and a yoga room, business center, valet services, a pool with cabanas, a dog park and a spa. Preleasing is scheduled to begin during the first quarter of 2018.

October 18, 2017

Multifamily Texas

Presidium Group Acquires 343-Unit Apartment Community in Dallas

by Taylor Williams October 18, 2017

DALLAS — Presidium Group LLC has acquired Serendipity Apartments, a 343-unit, Class B multifamily asset located at 8780 Park Lane in Dallas. Built in 1975, the property offers a mix of one- and two-bedroom units averaging 610 square feet per unit. Amenities include a pool and a fitness center. The seller and sales price were not disclosed.

October 18, 2017

Office Texas

Stream Realty Negotiates 53,397 SF Office Lease in Dallas

by Taylor Williams October 18, 2017

DALLAS — Stream Realty Partners has negotiated an office lease at Gramercy Center South, a two-building, 256,000-square-foot office park located at 18451 N. Dallas Parkway in Dallas. Ryan Evanich and Matt Wieser of Stream Realty represented the landlord, ATCAP Partners, in the lease negotiations. The new tenant, Advanced Infusion Solutions, a provider of comprehensive pharmacy services, will occupy 53,397 square feet at the property.

October 18, 2017

Loans Multifamily Texas

Hunt Mortgage Secures $18M Refinancing for 436-Unit Multifamily Property in Dallas

by Taylor Williams October 18, 2017

DALLAS — Hunt Mortgage Group has secured $18 million in refinancing for Magnolia Creek Apartments, a garden-style multifamily community situated on 14.4 acres at 7272 Marvin D. Love Freeway in Dallas. Built in 1988, the property consists of 28 three-story buildings totaling 436 units and offers amenities such as a lounge, fitness center, pool and playground. Hunt Mortgage arranged the seven-year Fannie Mae loan on behalf of the borrower, Delaware-based IRG MDL LLC.

October 18, 2017

Office Texas

Marketing Firm to Open 114,000 SF Headquarters in Downtown Austin

by Taylor Williams October 17, 2017

AUSTIN, TEXAS — Main Street Hub, a marketing firm that targets local businesses, will open a new, 114,000-square-foot headquarters at 2010 E. Sixth St. in downtown Austin. The company will relocate employees from its two existing Austin offices, as well as those in its New York City office, to the new office space starting in 2019. The four-story property will offer amenities such as a rooftop patio, bicycle storage, on-site showers and dedicated parking for food trucks.

October 17, 2017

Loans Multifamily Seniors Housing Texas

KeyBank Arranges $74.6M Loan for Seniors Housing Portfolio in Texas

by Taylor Williams October 17, 2017

CLEVELAND — KeyBank Real Estate Capital has arranged a $74.6 million loan for the refinancing of a portfolio of seniors housing properties located in various markets throughout Texas. The portfolio consists of six skilled nursing facilities totaling 806 beds. John Randolph, Grant Saunders and Peter Trazzera of KeyBank arranged the financing through the FHA’s 232/223(f) mortgage insurance program. The borrower was a joint venture between Capital Senior Ventures, a subsidiary of Baltimore-based Capital Funding Group, and New York-based Blue Mountain Capital Management.

October 17, 2017

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