Texas

New LA Fitness Location Opens in Frisco Market Center

by Haisten Willis June 21, 2016

FRISCO, TEXAS — A 38,000-square-foot LA Fitness has opened in Frisco Market Center, a 100-acre mixed-use development located at the northwest corner of the Dallas North Tollway and Main Street in Frisco. Earlier this year, a grocery store chain purchased 19 acres along the eastern portion of Frisco Market Center for a future 100,000-square-foot store. Hermansen Development is the owner and developer for Frisco Market Center. The LA Fitness building, located at 5080 Main St., is situated on 5.1 acres. Ridgemont was the general contractor for the project and LegacyTexas was the lender. Chief Partners LP, a real estate investment firm based in Dallas, is the capital partner for Frisco Market Center. Upon completion, Frisco Market Center will include nearly 500,000 square feet of entertainment space, restaurants and retail, 250 hotel rooms and over 1,500 residences. Anchored by Main Event Entertainment and LA Fitness, the project also includes The Emerson, a 410-unit apartment community, and several restaurants. Other developments located at the intersection include Toyota Stadium and Soccer Center, a 145-acre multipurpose sports and entertainment facility consisting of the soon-to-open National Soccer Hall of Fame plus a 20,500-seat pro soccer stadium and 17 fields.

June 21, 2016

Loans Office Texas

Metropolitan Capital Advisors Arranges $14.4M Loan for Office Portfolio in Metro Dallas

by Haisten Willis June 21, 2016

COPPELL and ADDISON, TEXAS — Metropolitan Capital Advisors has arranged a $14.4 million loan for a portfolio of two office properties in metro Dallas. Rainier Asset Management Co., a subsidiary of Dallas-based Rainer Cos., owns the portfolio. The ownership is structured as a tenant-in-common. The five-year loan includes a 65 percent loan-to-value ratio and a fixed 4.95 percent interest rate. The portfolio includes Lakeview Center in Coppell and Sojourn Medical and Office Center in Addison. Lakeview Center is a 101,426-square-foot, single-story office building built in 1999. The property is 100 percent leased to six tenants, including Beacon Health Options, Circle K Stores and Caliber Home Loans. Sojourn Medical and Office Center was built in 2000 and is 87 percent leased to three tenants including the U.S. Oncology Center.

June 21, 2016

Office Texas

Corvette Warehouse Expands Headquarters in Dallas

by Haisten Willis June 21, 2016

DALLAS — Corvette Warehouse LLC is expanding its headquarters, sales center and showroom in Northwest Crossing, signging a long-term lease for 19,639 square feet in north Dallas. The business is adding 6,450 square feet of showroom space in Building Four at 2158 W. Northwest Highway in Dallas’s Stemmons Corridor. The four-building, 126,894-square-foot property is 90 percent occupied. Corvette Warehouse occupies end cap space, which is visible from the freeway. The 6.6-acre Northwest Crossing is located near I-35W and I-635. The company negotiated its new lease directly with the landlord’s brokerage team. Jason Miller and Brian Pafford of Dallas-based Bradford Commercial Real Estate Services represented the landlord, AF-1 Northwest Crossing LLC, in the transaction.

June 21, 2016

Office Texas

G&A Partners Relocates Corporate Headquarters to Houston’s Energy Corridor

by Haisten Willis June 21, 2016

HOUSTON — G&A Partners, a professional employer organization and HR services provider, has relocated its corporate headquarters to Houston’s energy corridor. The new office, located in the Westgate complex at 17220 Katy Freeway, will allow the company to increase its operational capacity by providing additional square footage and modern amenities. With many of its more than 150 Houston-based employees living on the north and west sides of the city, G&A decided that moving to the energy corridor would decrease commute times for its employees. G&A partnered with CBRE’s Kevin Kushner for tenant representation services, including site selection and lease negotiations. The building’s layout, designed by Ziegler Cooper Architects, features breakout and conference rooms and an open floor plan. The company moved into the new space this month.

June 21, 2016

first-choice-emergency-room-rowlett-texas

Healthcare Loans Office Texas

Metropolitan Capital Advisors Arranges $5.1M Construction Loan for Emergency Room in Metro Dallas

by Haisten Willis June 20, 2016

ROWLETT, TEXAS — Metropolitan Capital Advisors has arranged a $5.1 million construction loan for First Choice Emergency Room, located in Rowlett. The 0.8-acre tract is located off the northwest corner of Rowlett Road and Highway 66. The three-year loan, funded by Happy State Bank, includes one year of interest-only payments, a 4.75 percent fixed interest rate and a 25-year amortization schedule. The nearest hospital is the Lake Pointe Medical Center 3.5 miles east of downtown Rowlett across Lake Ray Hubbard.

June 20, 2016

Multifamily Texas

M&M Negotiates Sale of 317-Unit Multifamily Property in Dallas

by Haisten Willis June 20, 2016

DALLAS — Marcus & Millichap has negotiated the sale of Sedona Ridge, a 317-unit apartment community in Dallas. Built in 1983, the apartment complex is located at 11100 Walnut Hill Lane, near its intersection with I-635. Richland College, Texas Health Presbyterian Hospital and the global headquarters of Texas Instruments are nearby. Recent exterior improvements to Sedona Ridge include new signage, floodlighting, closed-circuit security cameras and additional parking spaces. Interior enhancements include brushed-nickel kitchen and bathroom fixtures and black appliance packages.

June 20, 2016

Industrial Texas

Bellomy & Co. Brokers Sale of Locktite Storage in Metro Austin

by Haisten Willis June 20, 2016

CEDAR PARK, TEXAS — Bellomy & Co. has brokered the sale of LockTite Storage – Lakeline in Cedar Park. The Class A facility, renovated in 2013, consists of 351 climate and non-climate-controlled units spanning 56,395 square feet. Cedar Park is located 18 miles northwest of downtown Austin. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. listed the facility on behalf of the Austin-based seller. The trio also procured the buyer, Public Storage, a publically traded REIT headquartered in Glendale, Calif.

June 20, 2016

Retail Texas

Adam Smith’s Texas Harley-Davidson Opens New Dealership in Metro Dallas

by Haisten Willis June 20, 2016

BEDFORD, TEXAS — Adam Smith’s Texas Harley-Davidson has opened a new dealership in Bedford. In March 2015, design/build contractor Bob Moore Construction broke ground on the new home for Texas Harley-Davidson, intended to consolidate the company’s operations into one facility and give it room to expand in the future. The new dealership features 71,000 square feet of retail, office and service department space. A large metal awning with black trim spans the front and side of the building, with metal panels and sections of glass curtain wall showcase the motorcycles within. The building is fronted with 100,000 square feet of customer parking and paved motorcycle display space. Behind the building is a driver’s training space to support the safety classes provided by Texas Harley-Davidson. The interior retail space was designed to provide a dynamic blend of old style warehouse and industrial styles. Stained finish concrete accented with wood taken from old wine and whiskey barrels accent the showroom. The walls feature Harley-Davidson artwork along with sections of old brick.

June 20, 2016

Office Texas

Dow Chemical Leases 75,920 SF in Deerwood Glen III Office Building

by Haisten Willis June 20, 2016

DEER PARK, TEXAS — The Dow Chemical Co. has leased 75,920 square feet in Deerwood Office III, an office building under construction at 4460 State Highway 225 in Deer Park. Completion of the 98,230-square-foot, two-story building is scheduled for August 2016. Clay Development and Construction, is the developer of Deerwood Office III, the third building in the office park section of Deerwood Glen Business Park, a 150-acre site acquired by Clay in 2008. Deerwood Glen III is now 77 percent leased. A fourth office building is planned in the park. Craig Beyer, Jeff Cutler and Kristian Nielsen of CBRE represented Dow in the transaction, and Charlie Christ of Clay Development & Construction represented the landlord in lease negotiations. Deerwood Office III is located on 8.6 acres and features 50,293-square-foot floorplates. The property has a parking ratio of four spots per 1,000 square feet.

June 20, 2016

Industrial Texas

LaSalle Acquires RiverPoint Commerce Center in Dallas

by Haisten Willis June 17, 2016

DALLAS — LaSalle Investment Management has acquired RiverPoint Commerce Center in Dallas. The property includes two fully leased industrial buildings in the Great Southwest submarket. Developed and leased by Stream Realty Partners, RiverPoint Commerce Center spans 602,958 square feet with direct access to the George Bush Turnpike, SH 183, SH 360 and I-30.

June 17, 2016

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