NORTHLAKE, TEXAS — E Smith Realty Partners has secured 309,357 square feet of industrial space for Wesco Aircraft Holdings in Northlake. Wesco Aircraft is a distributor and provider of supply chain management services to the aerospace industry. The new industrial warehouse should be complete in the third quarter. Brad Struck and Jim Hazard of E Smith Realty represented the tenant in the lease negotiations.
KATY, TEXAS — NAI Partners has represented Jet Line in a 30,375-square-foot lease in a newly constructed multi-tenant industrial building located at 21401 Park Row Drive in Katy. John Ferruzzo and Nick Peterson of NAI Partners represented the tenant, Jet Line, in the lease negotiations, while Darryl Noon of Transwestern represented the landlord, MCA Mason Creek Owner LLC.
DALLAS — Ready Capital Structured Finance has secured a $10.5 million loan for the refinance and stabilization of an office portfolio located at Dallas/Fort Worth International Airport in Grapevine. The properties were recently acquired under a long-term ground lease from the DFW Airport Authority. The portfolio includes two office buildings totaling 188,600 square feet on 17.5 acres. The first is the DFW Business Center (north and south towers), two class B, four-story office buildings totaling 115,440 square feet with a 950-space garage deck located between the north and southbound lanes near Terminal B. The second is the airport’s 73,155-square-foot, two-story former executive office building located on 14.3 acres at 3200 E. Airfield Drive. The buildings had previously been used to accommodate the airport’s business operations and executive offices. Exterior renovations are planned for both properties, including improved landscaping and upgraded common areas. The non-recourse, three-year loan features release provisions and flexible pre-payment options with a one-year extension option.
AUSTIN, TEXAS — JLL has arranged the sale of The Catherine, a luxury apartment building in Austin. Catherine Tower LLC, an affiliate of Austin-based Christopher Investment Co., purchased the 300-unit property located in Austin’s SoCo submarket. Jeff Price and Scott LaMontagne led the JLL team in the deal. Completed in 2015, units at The Catherine feature 10-foot ceilings, stainless steel kitchen appliances, stone countertops with gourmet kitchen islands and in-unit washers and dryers. Community amenities include an infinity pool, fitness center and a sky lounge on the 19th floor.
ADDISON, TEXAS — Marcus & Millichap has arranged the sale of The Forum at Beltline, a three-building, 205,771-square-foot office complex in Addison. Hebert Lawrence and Michael Lawrence of the firm’s Newport Beach, Calif., office represented the seller, a Delaware-based limited liability company. The complex is located in the far north Dallas office submarket at 4002, 4004 and 4006 Belt Line Road. The location, on the southwest corner of Belt Line and Surveyor roads, is known as Addison’s “restaurant row.” The buildings are 1.5 miles west of the Dallas North Tollway, 2.4 miles north of I-635 and four miles south of the George Bush Turnpike. A Dallas Area Rapid Transit (DART) bus stop and many restaurants are nearby. Built in 1983, The Forum at Beltline was 94 percent leased at the time of the sale.
HOUSTON — Daiso California LLC has signed its first lease for retail space in the Houston area, where the company plans to open 12 stores in the next two years. Japan-based Daiso Industries Inc. designs and manufactures private-label products, offering more than 90,000 items ranging from $1.50 to $10 in its stores. Daiso has jump-started its push into Houston with a 10,998-square-foot lease in Mason Park Shopping Center at 501 S. Mason Road in Katy. Currently, five other leases are at various stages of negotiation. Heather Nguyen and John Nguyen of Houston-based NewQuest Properties are Daiso’s tenant representatives in Texas.
MISSOURI CITY, TEXAS — Malawi’s Pizza has leased 5,000 square feet of retail space at 8731 Highway 6 Center in Missouri City for its first Houston-area location. The center is located at Highway 6 and Sienna Parkway in Sienna Plantation, a master-planned development. Malawi’s Pizza plans to eventually open 22 restaurants in the greater Houston market. Doug Hermann, Edward Heap and Randy Hopper with The Weitzman Group handled negotiations as tenant representatives for the restaurant. The newly constructed center is shadow-anchored by H-E-B and serves the growing Sienna Plantation market. For each meal purchased at Malawi’s Pizza, the restaurant donates a meal to a child in Malawi, Africa.
SAN ANTONIO — Bob Moore Construction has broken ground on a regional financial servicing center in San Antonio for GM Financial Credit Inc. The servicing center is the fifth in North America for GM Financial. The new facility is projected to employ up to 700 people in the Westover Hills area of the city. The project received a $2.5 million grant from the Texas Enterprise Fund, as well as tax incentives from the city of San Antonio and Bexar County. San Antonio-based RVK Architects is the architect and Pape-Dawson Engineers Inc. is the civil engineer. The new building will include 100,000 square feet of office and call center facilities over two floors. The building will also include 720 parking spaces for employees and guests. The building is projected to go into operation in mid-2017.
SEGUIN, TEXAS — The Seguin Main Street Program has purchased the historic Aumont Hotel located at 301 N. Austin St. in Seguin. The hotel, which was built in 1916, is vacant but is designed with retail space and an event venue on the first floor, apartments on the second and third floors and office suites on the fourth floor. The almost 20,000-square foot building is celebrating its centennial this year. Suzanne Puente of Berkshire Hathaway Home Services – Don Johnson Realtors represented the buyers, Gregg Woodall and Amy Woodall of New Braunfels, in the sale. Kelley Rose of Heritage Texas Properties represented the seller, Thomas Giles, who purchased the building in 2003 and rehabbed it into its current form. The buyers plan to renovate the apartments and offer premier residential rental space, as well as maintain the retail and office space with minor upgrades.
IRVING, TEXAS — Paul Peebles of Old Capital has secured a $9.2 million loan for the purchase of Silverado Apartments in Irving. An unnamed local ownership group purchased the 184-unit property from an unnamed seller. Old Capital provided the 12-year Fannie Mae loan at an 80 percent loan-to-value ratio. The non-recourse loan includes a 30-year amortization schedule.
