Texas

BBVA Compass to Move San Antonio Offices, Flagship Branch to Weston Centre

by Haisten Willis May 12, 2016

SAN ANTONIO — BBVA Compass will move its San Antonio offices into Weston Centre, the city’s tallest office building. As part of the move, the bank’s logo will be placed atop the building’s north and south sides, illuminating it at night. The bank signed a lease earlier this month and will move to the center of San Antonio’s financial district by mid-2017. BBVA Compass will occupy 9,600 square feet in the lobby for a retail branch, and 19,000 square feet on the second floor for corporate offices. Weston Centre will undertake extensive renovations for the new BBVA Compass space. Offices on the second floor will feature an open space layout to maximize collaboration. The offices will feature Wi-Fi and Bluetooth technologies, shared public spaces, collaboration areas and private meeting rooms.

May 12, 2016

SourceHOV Sells Data Center Site, Relocates Within El Paso

by Haisten Willis May 12, 2016

EL PASO, TEXAS — CBRE has arranged the sale of a 22,724-square-foot data center in El Paso on behalf of SourceHOV, a provider of transaction processing solutions, strategic consulting and data analytics. El Paso investor Jason Barreras purchased the building at 2601 East Yandell Drive for an undisclosed price. Rebecca Rojas of CBRE’s El Paso office, along with Dolores Wood-Euart of the firm’s Dallas office, represented SourceHOV. Kenny Gross of Priority 1 represented the buyer. The building will be available for lease to an office or flex user by next month. SourceHOV has more than 80 locations throughout the United States, as well as a presence in Canada, China, India, Mexico and the Philippines.

May 12, 2016

Office Texas

Peloton Begins Construction on Class A Office Development in Metro Austin

by Haisten Willis May 12, 2016

BEE CAVE, TEXAS — Peloton Commercial Real Estate has broken ground on a two-building, Class A office development located adjacent to the Hill Country Galleria, Galleria Oaks in Bee Cave. Developed by Adrian Overstreet, the two 75,000-square-foot buildings and a 150,000-square-foot parking garage will be delivered next February. True Car has pre-leased 37,757 square feet and will be the lead tenant in Building I, taking the top floor and half of the second floor. True Car is expected to move into its office space in March 2017.

May 12, 2016

Multifamily Texas

M&M Arranges Sale of 132-Unit Apartment Building in Irving

by Haisten Willis May 12, 2016

IRVING, TEXAS — Marcus & Millichap has arranged the sale of North Oak, a 132-unit apartment property located in Irving. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private California-based investor. Silva also secured the buyer, a local partnership. North Oak is a 132-unit community that was built in 1982 and is located at 1417 N. Nursery Road. Community amenities include a swimming pool, individual meters and on-site laundry facilities.

May 12, 2016

Industrial Texas

NAI Partners Represents Quest in 70,000 SF Build-to-Suit Lease in Metro Houston

by Haisten Willis May 12, 2016

STAFFORD, TEXAS — NAI Partners has represented Quest in a 70,000-square-foot build-to-suit industrial lease at the southwest corner of Stafford Road and Stafford Boulevard in Stafford. Jon Silberman, John Simons and Holden Rushing of NAI Partners represented Quest during the negotiations, while Joe Moody represented the landlord, Black Flag Properties LLC.

May 12, 2016

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Multifamily Texas

Transwestern Development to Build Micro Apartment Community in Austin

by Haisten Willis May 11, 2016

AUSTIN, TEXAS — Transwestern Development Co. plans to develop Indie Apartments, a micro-unit community at 1648 E. Sixth St. in Austin. Transwestern acquired nearly 0.5 acres and will construct a 139-unit community with a 2,500-square-foot restaurant space in East Sixth, an entertainment district just east of downtown. Groundbreaking is scheduled for June with the first units expected to deliver in August 2017. The 55,814-square-foot property will consist primarily of 350-square-foot studio units and 520-square-foot, two-bedroom units. The fully furnished apartments will maximize space through built-in storage units and flexible furniture systems such as Murphy beds, hideaway kitchen modules and convertible tables. Located less than one block from the Plaza Saltillo metro station, Indie Apartments will feature a large communal area, fire pits, outdoor TVs and 108 below-grade parking spaces. Martines Palmeiro Construction is the general contractor, and Wilder Belshaw Architects is the architect. Comerica provided the financing for the project.

May 11, 2016

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Multifamily Texas

SWBC Real Estate Acquires Land for Multifamily Developments in Metro Dallas

by Haisten Willis May 11, 2016

MCKINNEY, TEXAS — SWBC Real Estate LLC has purchased 9.3 acres within the 2,200-acre Craig Ranch master planned community in McKinney to develop two Class A multifamily properties. Craig Ranch is located on the north side of State Highway 121, also known as the Sam Rayburn Tollway. SWBC will develop the site in two phases. The first phase will be named Central Park at Craig Ranch and will consist of 269 units. At total build-out, the site is projected to contain 550 units. Central Park at Craig Ranch will include one-, two- and three-bedroom units. Amenities will include a clubhouse with a community business center, attached parking garage, 24-hour fitness center, pool and spa. Units will feature 10-foot ceilings, granite countertops, stainless steel appliances and washer/dryer hookups. Cross Architects is the architect for the project, Stantec is the engineer and SWBC Builders LLC is the general contractor. SWBC Real Estate plans to break ground on the project in the fourth quarter.

May 11, 2016

Retail Texas

CBL & Associates, Horizon Group to Develop The Outlet Shoppes at Laredo

by Haisten Willis May 11, 2016

LAREDO, TEXAS — CBL & Associates Properties has formed a 65/35 joint venture with Horizon Group Properties to develop The Outlet Shoppes at Laredo. Once complete, the 358,000-square-foot project will be the only outlet center within a 180-mile radius and the closest outlet center to the 4.5 million neighboring populace in Monterrey, Mexico. The project is under construction with a grand opening slated for spring 2017. CBL and Horizon are co-developing the project with Horizon responsible for leasing and management. The Outlet Shoppes at Laredo is nearly 80 percent preleased to tenants including Michael Kors, Brooks Brothers, Banana Republic, Abercrombie & Fitch, Tommy Hilfiger, Puma and Fossil. The project is located off I-35 adjacent to a new customs bridge that provides direct access to the property.

May 11, 2016

Industrial Texas

E Smith Realty Secures 309,357 SF Industrial Lease in Metro Dallas

by Haisten Willis May 11, 2016

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.

May 11, 2016

Industrial Texas

NAI Partners Arranges 30,375 SF Industrial Lease in Metro Houston

by Haisten Willis May 11, 2016

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.

May 11, 2016

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