Texas

Faris Lee Brokers $4.6M Sale of 8,500 SF Retail Center in Katy

by Taylor Williams April 18, 2017

KATY, TEXAS — Faris Lee Investments, a California-based retail advisory and investment sales firm, has brokered the $4.6 million sale of a 8,500-square-foot, multi-tenant retail property within Grand Crossing, a mixed-use development in Katy. Located at 23641 Katy Freeway, the center was 100 percent leased at the time of sale to tenants such as Sleep Number, Carus Dental and Lux Nail Salon. Jeff Conover of Faris Lee represented the buyer, Los Angeles-based Caswell Development LLC. Edifice GC Katy, TX, the developer of the property, was the seller.

April 18, 2017

Allied Orion Begins Leasing 242-Unit Midrise in Downtown Houston

by Taylor Williams April 18, 2017

HOUSTON — Allied Orion Group has begun leasing Eighteen25, a 242-unit midrise apartment community located at 1825 San Jacinto St. near Interstate 45 in downtown Houston. The property, which is slated for August move-ins, consists of studio, one- and two-bedroom apartments. Amenities include a rooftop pool, fitness center, business center, parking garage and 24-hour dry cleaning service.

April 18, 2017

Office Texas

Bradford Commercial Negotiates 20,752 SF Office Sublease in Downtown Fort Worth

by Taylor Williams April 18, 2017

FORT WORTH, TEXAS — Bradford Commercial Real Estate Services has negotiated a sublease for 20,752 square feet of Class A office space at 777 Main St. in downtown Fort Worth. Erik Blais and Nick Talley of Bradford Commercial represented the sublandlord, Trinity River Energy LLC, in the transaction. The new subtenant, TEP Barnett, a division of French oil and gas company Total E&P, will occupy the 37th floor of the 40-story, 955,000-square-foot building.

April 18, 2017

Retail Texas Top Stories

TriGate Capital Acquires 410,121 SF Retail Center in Metro Houston

by Taylor Williams April 17, 2017

SUGAR LAND, TEXAS — TriGate Capital, a Dallas-based real estate private equity firm, has purchased First Colony Commons, a 410,121-square-foot retail center in the Houston suburb of Sugar Land. Covington Realty Partners, a Chicago-based investment firm that specializes in Class A assets in primary markets, sold the property. HFF arranged the $38.2 million in acquisition financing for the property and represented both parties in the sales transaction. Nexbank SSB provided the floating-rate, non-recourse loan for the property, which features a 12-year term and a five-year extension option. Situated on 37.8 acres at 15201-15555 Southwest Freeway near Interstate 69 on Houston’s southwestern outskirts, the center was 99 percent leased at the time of sale. Tenants include The Home Depot, Tuesday Morning, Babies “R” Us and Office Depot. More than 85,000 residents earning an average annual household income of $134,000 or more live within three miles of First Colony Commons. Rusty Tamlyn and Ryan West of HFF headed the investment sales effort. Jim Curtin of HFF led the debt placement transaction. “This power center had a lot of moving parts, which presented challenges for buyers and lenders,” says Tamlyn. “TriGate was able to navigate through the issues and will have potential value-add opportunities …

April 17, 2017

Retail Texas

Colliers Arranges Sale of Retail Strip Center in South Houston

by Taylor Williams April 17, 2017

HOUSTON — Colliers International Inc. has arranged the sale of a retail center located at 9335 Gulf Freeway in south Houston. Built in 2004, the strip center features 7,500 square feet of gross leasable space. Jason Tangen of Colliers represented the seller, a Hawaii-based private investor, in the transaction. At the time of sale, the property was 85 percent leased with a T-Mobile location on the end-cap.

April 17, 2017

Retail Texas

Hulu to Open 45,000 SF Viewer Operations Center in San Antonio

by Taylor Williams April 17, 2017

SAN ANTONIO — California-based video subscription company Hulu will open a viewer experience operations center in San Antonio. The center, which will measure 45,000 square feet, according to the San Antonio Express-News, will serve as a customer service center to aid the rollout of the company’s new live television service and redesigned interface. The opening of the center in 2017 is expected to create at least 500 new jobs by 2018.

April 17, 2017

Multifamily Seniors Housing Texas

Marcus & Millichap Brokers Sale of 87-Unit Seniors Housing Facility in Allen

by Taylor Williams April 17, 2017

ALLEN, TEXAS — Marcus & Millichap has brokered the sale of Texas Star Assisted Living, an 87-unit, 95-bed assisted living and memory care community located at 650 S. Greenville Ave. in Allen. Doug O’Toole of Marcus & Millichap represented the buyer, a national owner/operator of seniors housing properties, in the transaction. Nathan Tune of Coldwell Banker represented the seller, a Texas-based developer.

April 17, 2017

Retail Texas

Woodlands Development Co. Opens 784-Unit Self-Storage Facility in Metro Houston

by Taylor Williams April 17, 2017

THE WOODLANDS, TEXAS — The Woodlands Development Co., a division of The Howard Hughes Corp., has opened its second self-storage facility at 32010 FM 2978 in The Woodlands Village of Sterling Ridge, a mixed-use development on the northern outskirts of Houston. CubeSmart, a Pennsylvania-based self-storage REIT, will manage the 784-unit facility, which features gated entry, video surveillance and free moving truck services.

April 17, 2017

Industrial Texas

Stream Realty Negotiates 37,896 SF Industrial Lease in Arlington

by Taylor Williams April 17, 2017

ARLINGTON, TEXAS — Stream Realty Partners has negotiated a 37,896-square-foot lease on behalf of Restaurant Services Inc., a supply chain management firm, at 700 106th St., a 43,329-square-foot industrial property in Arlington. Eric Crutchfield, Ryan Boozer and Sarah Ozanne of Stream Realty represented the landlord, Checkerprop Texas 700 106th Street LLC, in the transaction. Ozanne and Luke Davis, also with Stream Realty, represented the tenant.

April 17, 2017

Features Office Texas Texas & Oklahoma Feature Archive Uncategorized

Business Parks Energize the Lone Star State

by Jaime Lackey April 15, 2017

Speculative development and e-commerce tenant demands are driving forces in Dallas and Houston’s industrial markets. By Brian Lee The biggest developments in the biggest state in the lower 48 are making big news: industrial business parks in Texas’ top markets continue to show strong development and leasing activity. Cushman & Wakefield shared a “very encouraging” industrial outlook on the Dallas-Fort Worth metro area. With slightly less than 24 million square feet of absorption in 2016, market demand continues to outpace supply, which included 22 million square feet of new construction last year. PwC and Urban Land Institute ranked the metro second nationally for real estate prospects in 2017 and fulfillment centers No. 1 in both the development and investment categories, ahead of 23 other property types. “The evolution of the e-commerce sector continues to shape the industrial market as a whole,” says Adam Hammack, senior director of Industrial Agency Leasing in Cushman & Wakefield’s Dallas office. Site selection factors for large e-commerce users comprise fresh building functionality, modern infrastructure and the ability to attract and retain labor, which includes nearby transit and retail options for industrial park personnel, according to Hammack. Focusing on the effects of the energy downturn doesn’t …

April 15, 2017

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