Texas

Fitness Sport Club to Open in Brazos Town Center Mixed-Use Development

by Haisten Willis May 3, 2016

ROSENBERG, TEXAS — NewQuest Properties has finalized a 38,835-square-foot lease with 24 Hour Fitness Worldwide Inc. at the 550-acre Brazos Town Center in the Houston suburb of Fort Bend County. Site work is underway on a tract fronting FM 762 and adjacent to Spec’s Wines, Spirits & Finer Foods. The California-based fitness center pioneer is planning to open a sport club, one of four concepts in its portfolio, by year’s end. McLeod-Cobb and Bob Conwell of NewQuest Properties represented the landlord, while their colleague Jeff Hayes negotiated on behalf of 24 Hour Fitness. The project’s new tenant has more than 400 clubs nationwide and nearly 4 million members. The 99 percent leased Brazos Town Center is located at the junction of Southwest Freeway (I-69) and FM 762.

May 3, 2016

Retail Texas

Weitzman Negotiates Lewisville Location for Spec’s

by Haisten Willis May 3, 2016

LEWISVILLE, TEXAS — Spec’s Wines, Spirits & Finer Foods, a shopping experience founded and operated by the same Houston family since 1962, has leased 25,908 square feet of retail space in Lakepointe Crossing, a power retail center located at 2416 S. Stemmons Freeway in Lewisville. Blake Shipp of The Weitzman Group handled negotiations as the leasing agent for Lakepointe Crossing. Jody Detmore of SFP Brokerage LLC represented Spec’s. Cencor Realty Services’ property manager, Susana Gandara, manages Lakepointe Crossing.

May 3, 2016

Retail Texas

M&M Arranges Sale of 10,500 SF Net-Leased Property in Metro Houston

by Haisten Willis May 3, 2016

HUMBLE, TEXAS — Marcus & Millichap has arranged the sale of The Learning Experience, a 10,500-square-foot net leased property in Humble. Taylor Booker and Nate Newman of Marcus & Millichap’s The Woodlands office marketed the property on behalf of the seller, a limited liability company. Keith Lloyd and Christopher Jones of the firm’s Houston office secured and represented the buyer, a partnership. The Learning Experience is located at 7743 N. Sam Houston Parkway East.

May 3, 2016

Industrial Texas

ML Realty Partners Breaks Ground on Phase II of Park West Crossing in Coppell

by Haisten Willis May 2, 2016

COPPELL, TEXAS — ML Realty Partners LLC has begun construction on Phase II of Park West Crossing, which includes four industrial buildings totaling 304,943 square feet. Located in Coppell just north of DFW International Airport, the 74-acre master-planned business park is bordered by Freeport Parkway to the west, Southwestern Boulevard to the north and South Belt Line Road to the east. Upon completion, ML Realty Partners will have developed eight buildings at Park West Crossing totaling 612,443 square feet. The rear-load buildings should be available for occupancy during the fourth quarter and will range in size from 61,389 square feet to 91,968 square feet.

May 2, 2016

Loans Multifamily Texas

Dougherty Mortgage Secures Two Loans for Multifamily Properties in Irving, San Antonio

by Haisten Willis May 2, 2016

IRVING and SAN ANTONIO, TEXAS — Dougherty Mortgage has secured two loans for multifamily properties in Texas. In the first transaction, Dougherty closed a $9.3 million Fannie Mae loan for the acquisition of Silverado Apartments, a 184-unit apartment property located in Irving. The 10-year loan includes one year of interest-only payments and a 30-year amortization schedule. Dougherty’s Minneapolis office arranged the loan for borrower Elmstone Group OP1 through a partnership with Old Capital Lending. In the second transaction, Dougherty closed an $881,054 Fannie Mae loan for the acquisition of Windsor Village Apartments, a 124-unit complex located in San Antonio. Dougherty’s Vienna, Va., office arranged the loan with a 30-year amortization schedule on behalf of the borrower, Windsor Village SA Apartments LLC. The loan term is a little over eight years.

May 2, 2016

Industrial Office Texas

JQ Provides Structural Engineering for Stadium in Houston

by Haisten Willis May 2, 2016

HOUSTON — The Houston office of JQ has provided structural engineering services for Caress Stadium at Helfman Field, located on The Emery/Weiner School’s 15-acre campus in southwest Houston at 9825 Stella Link Road. Construction was completed in March. The completion of Caress Stadium is part of the school’s Champions Campaign, a capital campaign with the goal of raising $20 million by 2020 to enrich academic programs, extend tuition assistance and to expand facilities to accommodate growth in its athletics and arts programs. The Caress Stadium fieldhouse project includes locker rooms, a weight room, ticket booth, concessions and support functions on the first level, along with a film deck, press box and mechanical mezzanine on the second level. There is also an on-site storage building adjacent to the field along with two wing wall structures on each end of the bleachers that will seat more than 500 spectators.

May 2, 2016

Retail Texas

Baker Katz Purchases 12,000 SF Foodarama Store in Houston

by Haisten Willis May 2, 2016

HOUSTON — Baker Katz has purchased a 40,000-square-foot site in Houston that includes an existing 12,000-square-foot building occupied by Foodarama, a Texas supermarket chain. The property is located in the Houston neighborhood of Timbergrove, which is adjacent to Houston Heights.

May 2, 2016

Multifamily Texas

M&M Arranges Sale of Historic Apartment Building in Dallas

by Haisten Willis May 2, 2016

DALLAS — Marcus & Millichap has arranged the sale of Zora Lee, an eight-unit apartment property located in the Old East Dallas neighborhood. Nick Fluellen and Bard Hoover of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Fluellen and Hoover also procured the buyer, an individual/personal trust. Zora Lee is located at 4831 Junius St. Built in 1923, the historic property is five miles northeast of the Dallas central business district.

May 2, 2016

Office Texas Top Stories

Cousins Agrees to Acquire Parkway Properties for $2B in Stock, Spin Off Houston Properties

by Jeff Shaw May 2, 2016

ATLANTA — Cousins Properties (NYSE: CUZ) and Parkway Properties (NYSE: PKY) have agreed to a $1.95 billion stock-for-stock merger. The deal will simultaneously spin off of both companies’ Houston-based assets, creating a new publicly traded REIT called HoustonCo. The combined company will operate under the Cousins Properties name and continue to own Class A office towers in Sun Belt markets. The combined portfolio will include 41 properties totaling 15.8 million square feet of space in Atlanta; Austin, Texas; Charlotte, N.C.; Phoenix; and Orlando and Tampa, Fla. Although Parkway currently owns properties in Jacksonville, Fla., a Cousins investor presentation about the merger implied those buildings will be sold. Under the agreement, Parkway shareholders will receive 1.63 shares of Cousins stock for each share of Parkway stock they own. The combined company will create HoustonCo via a special dividend distributed to its shareholders once the merger is complete. Jim Heistand, Parkway’s CEO, will head HoustonCo after the spin-off. Cousins and Parkway shareholders will own about 52 percent and 48 percent, respectively, of both Cousins and HoustonCo. Both companies’ boards of directors approved the transactions unanimously. Affiliates of TPG, which own about 21 percent of Parkway’s outstanding common stock, have also agreed to …

May 2, 2016

Restaurant Retail Texas

Metropolitan Capital Advisors Arranges $1M Loan for Restaurant in Waco

by Haisten Willis April 29, 2016

WACO, TEXAS — Metropolitan Capital Advisors has arranged a $1 million fixed-rate senior mortgage for a 4,384-square-foot restaurant in Waco. Twisted Root Burger Co. occupies 100 percent of the building, which fronts I-35 adjacent to Baylor University. The loan includes a 4.3 percent interest rate with a 25-year amortization schedule. The sponsor recently executed a 15-year triple net lease for the property with Twisted Root Burger Co. Twisted Root is the first of three restaurant concepts created by Jason Boso and Quincy Hart. Their flagship location in Dallas opened in late 2005 in the Deep Ellum District. Boso and Hart later appeared on Diners, Drive-Ins, and Dives with Guy Fieri, and they’ve since opened 11 other stores over the last eight years.

April 29, 2016

Newer Posts

Older Posts