Texas

TIC Group Sells Colonnade at West Lake Houston Retail Property

by Haisten Willis September 20, 2016

HOUSTON — A group of 16 tenant-in-common (TIC) investors has sold the Colonnade at West Lake Houston retail development to a local retail investment and development company. The 54,449-square-foot property, located at 18455 Lake Houston Parkway, was 94 percent leased at the time of sale. SONA Colonnades LP, which owns other area retail properties, was the buyer. Chris Dray of NewQuest Properties represented the buyer of the four-building property. The 6.8-acre Colonnade is located near the eastern shore of the 12,000-acre Lake Houston.

September 20, 2016

Office Texas

Trammell Crow Opens Park South YMCA Early Childhood Center in Dallas

by Haisten Willis September 20, 2016

DALLAS — Trammell Crow Co. (TCC), Alliance Architects and Fast-Track Construction have completed an early childhood center for Park South YMCA in Dallas. The project was built on behalf of In The City For Good, a charitable organization that develops food pantries and early childhood education programs for inner city youth. TCC, Alliance and Fast-Track converted an abandoned 2,000-square-foot laundromat into a preschool building that will serve 145 children. The one-story building, located at 3901 Latimer St., features three classrooms. The development team designed built-in shelves for storage, added windows to allow for natural light and painted all the rooms in bright colors to aid in learning.

September 20, 2016

Office Texas

Coldwell Banker Commercial Arranges Sale of Kool Smiles in San Angelo

by Haisten Willis September 19, 2016

SAN ANGELO, TEXAS — The Net Leased Investment Group for Coldwell Banker Commercial has arranged the sale of Kool Smiles, a dentist’s office, in San Angelo. The property is a net-leased investment with all maintenance and repairs handled by the tenant. Parker Carroll of Coldwell Banker Commercial represented the seller in the transaction.

September 19, 2016

Retail Texas

PacVentures Acquires Former Walmart Building in Austin

by Haisten Willis September 19, 2016

AUSTIN, TEXAS — PacVentures Inc. has acquired a former Walmart located at 8201 N. FM 620 in Austin. The site totals 39 acres, and the former Walmart building spans 220,000 square feet. PacVentures is a commercial real estate investment firm based in San Diego, with affiliate offices in Austin and Phoenix. AQUILA Commercial will market the property.

September 19, 2016

Company News Office Texas

HDR Opens Regional Office in San Marcos

by Haisten Willis September 19, 2016

SAN MARCOS, TEXAS — HDR has opened an office in San Marcos to serve Hays County and nearby cities including San Marcos, Kyle, Buda and Dripping Springs. The employee-owned engineering firm has leased space in the Red Oaks shopping center, located at 1290 Wonder World Drive, near the Hays County Government Center. Allen Crozier has been named manager of HDR’s San Marcos office. Crozier has been with HDR since 2005 and previously worked with the Texas Department of Transportation.

September 19, 2016

Retail Texas

M&M Negotiates Sale of 2,820 SF Net Leased Retail Property in Fort Worth

by Haisten Willis September 19, 2016

FORT WORTH, TEXAS — Marcus & Millichap has negotiated the sale of a 2,820-square-foot net leased retail property located at 4217 Bridge St. in Fort Worth. Lisa Estrada of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an individual/personal trust. Estrada also secured the buyer, another individual/personal trust. The property is located two miles from downtown Fort Worth along I-30.

September 19, 2016

Retail Texas

Lee & Associates Brokers Sale of Land in Metro Houston

by Haisten Willis September 19, 2016

CYPRESS, TEXAS — Lee & Associates’ Houston office has brokered the sale of 1.7 acres at Barker Cypress Road near Highway 290 in Cypress. Patrick Wolford of Lee & Associates represented the seller, Rileigh LLC. Hunington Properties Inc. represented the unnamed buyer, and will be retained for the leasing and management of a planned 15,000-square-foot retail center at the site. The center will be known as Barker @ 290 Center.

September 19, 2016

Hospitality Mixed-Use Multifamily Texas

Kor Group Breaks Ground on Austin Proper Hotel & Residences

by Haisten Willis September 16, 2016

AUSTIN, TEXAS — Kor Group has begun construction on Austin Proper Hotel & Residences, a mixed-use hotel and residential tower in downtown Austin. The merchant banking division of Goldman, Sachs & Co. is the capital partner for the development, which is slated to open in 2018. The 33-story, 500,000-square-foot project will be managed and branded by Proper Hospitality, a lifestyle hotel operator. The tower will feature 244 hotel rooms with interior design by Kelly Wearstler; dining options by McGuire Moorman Hospitality; and over 12,000 square feet of indoor and outdoor meeting and event space. Atop the hotel are 99 condominiums available for purchase. Property amenities will include full hotel services for both residents and guests, two roof decks with swimming pools, a full spa and fitness center, lobby restaurant and lounge, coffee shop and an elevated poolside restaurant.

September 16, 2016

Office Texas

Inventure Design Expands into Metro Dallas, Tulsa

by Haisten Willis September 16, 2016

FRISCO, TEXAS, and TULSA, OKLA. — Inventure Design, a Houston-based architecture and interior design firm, has opened two new office locations serving Dallas and Tulsa. The metro Dallas office will be located in Frisco. Inventure Design Tulsa will be the first office located outside of Texas for the firm. The new location will bridge design programs for oil and gas, office, healthcare, retail and multifamily clients with offices in both markets. The new office is located just outside of downtown Tulsa. Inventure Design was established in 1997.

September 16, 2016

Restaurant Retail Texas

Weitzman Brokers Sale of Stonehue Center in San Antonio

by Haisten Willis September 16, 2016

SAN ANTONIO — The Weitzman Group, representing a Florida-based investment partnership, has brokered the sale of Stonehue Shopping Center in San Antonio. The 21,004-square-foot retail center is located at 20323 Huebner Road. A local investment group was the buyer. Daniel Mitchell and Marcus Shaffer of The Weitzman Group handled negotiations. The tenant mix includes Jersey Mike’s, India Tai Palace, Guero’s Taco Diner, Austin Driving School and Pizza Hut. The Weitzman Group will continue to handle leasing of the center under the new ownership.

September 16, 2016

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