Texas

SurePoint Self Storage to Open in Metro Houston

by Haisten Willis May 27, 2016

PEARLAND, TEXAS — Robert Loeb, Jeff Bailey and Brian Cisarik of SurePoint Self Storage have received approval from the Pearland city council to construct their fourth location in the greater Houston market. The new self-storage property will be located in Pearland just south of the intersection of Broadway Street and Kirby Drive. The project will be a three-story, climate-controlled facility. The San Antonio-based developers recently began construction on their third facility in the Houston market, a three-story, 119,000-square-foot facility on Barker Cypress Road in Houston. The SurePoint team is concluding construction on a similar project on Spring Cypress Road just east of Grant Road in Cypress, as well as a four-story self-storage building in Richmond near Highway 59 and the Grand Parkway.

May 27, 2016

Lionstone Investments Acquires Grocery-Anchored Retail Center in Austin

by Haisten Willis May 27, 2016

AUSTIN, TEXAS — Lionstone Investments has purchased Brodie Oaks Shopping Center, a grocery-anchored retail center located in Austin, on behalf of an institutional investor. Constructed in 1983, the property occupies 31 acres at the intersection of South Lamar Boulevard and Loop 360. In addition to the 285,044-square-foot strip center, the 91.5 percent leased development includes 37,546 square feet of office space. Retail tenants include Neiman Marcus Last Call, Hobby Lobby, Tuesday Morning and Sprouts Farmers Market, among others. HFF Brokered the sale and Barshop & Oles will continue to manage the property and handle leasing transactions.

May 27, 2016

Loans Multifamily Texas

Old Capital Provides $10.9M Loan for Apartment Complex in Dallas

by Haisten Willis May 27, 2016

DALLAS — Old Capital has provided a $10.9 million loan for Sedona Ridge Apartments in Dallas. An out-of-state ownership group purchased the 317-unit, stabilized asset. Old Capital provided a Fannie Mae non-recourse loan with a 30-year amortization schedule.

May 27, 2016

Market Reports Retail Texas Texas Market Reports

Have All the Stars Aligned for Dallas Retail Success?

by Haisten Willis May 27, 2016

As market momentum from 2015 spilled over into the first quarter of 2016 for the Dallas-Fort Worth metropolitan area, commercial retail metrics are still firing on all cylinders. The three key market indicators of occupancy, absorption and development are robust and expect to remain that way for the foreseeable future. With fundamentals in check and a thriving economy led by strong employment and population growth, metro Dallas will continue to be a thriving marketplace and a safe haven for investor capital. Record High Occupancy The Dallas-Fort Worth retail market ended 2015 with an impressive 93 percent occupancy — a little over a 1 percent increase from year-end 2014 — achieving its highest occupancy rate in the last three decades. The continued occupancy increase is directly related to net absorption and largely attributable to positive population and employment growth in the Metroplex. Continued Absorption Since 2012, absorption has continuously outpaced the delivery of new construction, and nothing in the foreseeable future looks to disturb this new norm. First quarter 2016 absorption totaled over 1.6 million square feet, with half of that figure attributed to new deliveries. This is the seventh consecutive quarter where absorption eclipsed 1 million square feet. This is …

May 27, 2016

Multifamily Texas

Love Funding Secures $37.5M Construction Loan for Apartment Community in Oklahoma City

by Haisten Willis May 26, 2016

OKLAHOMA CITY — Love Funding has secured a $37.5 million loan for the construction and permanent financing of Chisholm Creek Apartments, a new market-rate apartment community in Oklahoma City. Leonard Lucas of Love Funding’s Boston office secured the financing through the U.S. Department of Housing and Urban Development’s Section 221(d)(4) loan insurance program. The program insures financing for the new construction or substantial rehabilitation of multifamily rental or cooperative housing for moderate-income families, the elderly and the handicapped. The 287-unit, four-story building is part of the Chisholm Creek master development in northwest Oklahoma City, and will feature an urban-style wrap layout encompassing a courtyard and pool area with a parking garage at each end. Other amenities will include a clubroom, business center, fitness center, coffee bar and two dog parks. Charlie Nicholas of N.E. Construction, the project’s general contractor, is leading the development.

May 26, 2016

Office Texas

M&M Arranges Sale of Office Building in Plano

by Haisten Willis May 26, 2016

PLANO, TEXAS — Marcus & Millichap has arranged the sale of Harrington Place, a five-story, 86,754-square-foot office building in Plano. Ron Hebert represented the seller in the transaction. Harrington Place is located 20 miles north of downtown Dallas at 1700 Alma Drive, near the Central Expressway and George Bush Turnpike. Built in 1983 and updated periodically, Harrington Place features 24-hour security. At the time of the sale, the property was 84 percent leased by a variety of local firms.

May 26, 2016

Multifamily Texas

Muskin Commercial Brokers Sale of Apartment Complex in Austin

by Haisten Willis May 26, 2016

AUSTIN, TEXAS — Bridge at South Port LLC has purchased The Oslo Apartments in Austin. Ellen Muskin and Daniel Elam of Muskin Commercial represented the sellers in the transaction. Rex Jones with AMP Management represented the buyer and will be managing the property. The Oslo includes 176 units, consisting of studio, one- and two-bedroom apartments. The property was renovated between 2014 and 2015.

May 26, 2016

Industrial Texas

CBRE Negotiates 124,436 SF Industrial Lease in El Paso

by Haisten Willis May 26, 2016

EL PASO, TEXAS — Transload Forwarding, a local supply chain solutions company, has signed a long-term, 124,436-square-foot lease at 9600 Pan American Drive in El Paso. Arturo De la Mora and Chad McCleskey of CBRE’s industrial and logistics division in El Paso represented the tenant in lease negotiations. The new location will be used to support Transload Forwarding’s logistics, custom brokerage and warehousing operation services.

May 26, 2016

Industrial Texas

NAI Partners Represents PetroAfrica in 18,875 SF Industrial Lease in Houston

by Haisten Willis May 26, 2016

HOUSTON — NAI Partners has represented PetroAfrica LLC in the lease of 18,875 square feet of industrial distribution space at 8950 Kirby Drive in Houston. PetroAfrica is a provider of oilfield supply and services established in 2005 in the Republic of Angola. PetroAfrica specializes in training, consulting, manpower, engineering services and the procurement and supply of materials and specialized equipment to support oil and gas exploration and production. Darren O’Conor and Jake Wilkinson of NAI Partners represented PetroAfrica in the negotiations. Sam Hansen of NAI Partners represented the landlord, SL Interchange LP.

May 26, 2016

Office Texas

McCarthy to Build $150M Office, Training Facility for Southwest Airlines in Dallas

by Haisten Willis May 25, 2016

DALLAS — McCarthy Building Cos. will build Southwest Airlines’ new office and training facility on the company’s corporate campus in Dallas. The new building, called “Wings,” consists of a 414,000-square-foot office building and an attached 367,000-square-foot flight training center, which will house 18 flight simulator bays, associated offices and ancillary areas. The project is valued at more than $150 million, according to the Dallas Morning News. The training portion of the structure will be constructed out of a special hardened building that can withstand 210-mile winds as it must remain operational every day of the year in all weather conditions. Also included in the project is a 1,900-car parking garage and surface parking that will provide for a total of 2,500 cars, as well as additional site work and construction of pedestrian bridges. Southwest’s corporate campus is adjacent to Love Field Airport. BOKA Powell is the project architect and Pacheco Koch is the landscape architect/civil engineer. Reed Wells Benson is the mechanical and electrical engineer and L.A. Fuess Partners and Ponce-Fuess are providing structural engineer services on the project. The project will commence in June and is expected to be completed in early 2018.

May 25, 2016

Newer Posts

Older Posts