Texas

The Meyers Group to Lead $50M Renovation of Historic Hotel Paso del Norte in El Paso

by Amy Works January 6, 2017

EL PASO, TEXAS — The Meyers Group has selected Kobi Karp Architecture and Interior Design for the $50 million renovation of the historic Hotel Paso del Norte, which is currently named Camino Real. Located at 101 S. El Paso St. in downtown El Paso, the 356-room hotel was originally built in 1912. Renovations are slated to begin in March and include upgrades to all rooms, as well as the second-floor grand ballroom and conference rooms. El Paso-based in’situ Architecture is also collaborating on the project. Renovations are scheduled for completion in 2018.

January 6, 2017

Marcus & Millichap Brokers Sale of 20,000 SF Industrial Park in Converse, Texas

by Amy Works January 6, 2017

CONVERSE, TEXAS — Marcus & Millichap has arranged the sale of Converse Business Park, an industrial property located at 9314-9318 Converse Business Lane in Converse. The park features 20,000 square feet of industrial space. The facility has performed at a near zero vacancy rate since its construction in 2006. Joshua Murphy of Marcus & Millichap represented the seller, a private investor, in the deal. The name of the buyer and acquisition price were not released.

January 6, 2017

Restaurant Retail Texas

Baker Katz Arranges Two Leases for Snooze Eatery in Houston

by Amy Works January 6, 2017

HOUSTON — Baker Katz has completed two leases for Snooze, an A.M Eatery, at Town & Country Village and Houston Heights Lowell Street Market in Houston. A 3,185-square-foot eatery is slated to open this summer at Town & Country Village, and a 3,785-square-foot second location is scheduled to open in late summer at Houston Heights Lowell Street Market. Since opening its first restaurant in 2006, the Denver-based eatery has grown to 17 locations across Arizona, California, Colorado and Texas. Snooze delivers a menu creative twists on breakfast dishes, as well as a selection of local craft beers and morning cocktails.

January 6, 2017

Retail Texas

Colliers International Brokers Sale of 1.8-Acre Land Parcel in Metro Houston

by Amy Works January 6, 2017

PASADENA, TEXAS — Colliers International has arranged the sale of a 1.8-acre land parcel located at the southwest corner of Sam Houston Parkway East and Spencer Highway in Pasadena. Frost Bank acquired the site for an undisclosed price and plans to develop a bank branch on the property. Marshall Clinkscales of Colliers represented the seller, Latour Partners, while Scott Gardner of UCR Houston Retail represented the buyer in the deal.

January 6, 2017

Office Texas

Bradford Commercial Real Estate Negotiates Two Office Leases in Metro Dallas Totaling 15,595 SF

by Amy Works January 6, 2017

DALLAS AND IRVING, TEXAS — Bradford Commercial Real Estate Services has brokered two leases totaling 15,595 square feet of office space in the Dallas metro area. In the first lease, Kingdom Resources LLC, a provider of oil and gas services, leased 8,791 square feet of office space at Freeport Corporate Center, located at 8650 Freeport Parkway South in Irving, from Slate Freeport Holdings. Kevin Brookmole of Bradford Commercial represented the tenant, while Geoff Shelton and Marshall mays of Holt Lunsford Commercial represented the landlord. In the second lease, Keaton Interiors Inc., an interior design and architecture firm, leased 6,804 square feet of office and showroom space at 4444 Spring Valley Road in Dallas from SV Associates Partnership. Susan Singer and Brian Pafford of Bradford Commercial represented the landlord, while Cole Horowitz of NAI Robert Lynn represented the tenant.

January 6, 2017

Multifamily Texas

Steadfast Apartment REIT III Acquires 256-Unit Multifamily Community in Austin for $44.5M

by Amy Works January 5, 2017

AUSTIN, TEXAS — Steadfast Apartment REIT III has acquired Canyon Resort at Great Hills, an apartment community located in Austin, for $44.5 million. Built in 1997, the property features 12 three-story buildings with a total of 256 apartments in a mix of one-, two- and three-bedroom layouts, averaging 983 square feet. Community amenities include a pool with sundeck, fitness center, barbecue area, business center, detached garage parking and hiking trails. At the time of sale, the property was 94.5 percent occupied with in-place rents averaging $1,335 per month. The name of the seller was not released.

January 5, 2017

Affordable Housing Multifamily Texas

KWA Construction Completes 182-Unit Affordable Housing Complex in McKinney, Texas

by Amy Works January 5, 2017

MCKINNEY, TEXAS — KWA Construction, serving as general contractor, has completed the construction of Post Oak Apartments, an affordable housing complex located in McKinney. Owned by McKinney Millennium II and developed by GroundFloor Development, the complex features 182 units, with 130 units reserved for residents earning 60 percent or less of the area median income and the remaining units at market-rate rents. Designed by Architettura Inc., the property features one-, two- and three-bedroom apartments with hardwood flooring, central air conditioning, dishwashers, microwaves, washer/dryer hookups and individual patios or balconies. On-site amenities include a leasing center and clubhouse with fitness center, business center, laundry facility, swimming pool and resident lounges with a kitchen. Boston Capital was a financial investor in the project.

January 5, 2017

Oklahoma Retail Texas

Marcus & Millichap Arranges Sale of Walmart Outparcel in Stillwater, Oklahoma

by Amy Works January 5, 2017

STILLWATER, OKLA. — Marcus & Millichap has brokered the sale of a Walmart outparcel located at 621 S. Country Club Road in Stillwater. The 40,075 square feet of commercial land is situated adjacent to a Walmart Supercenter and offers utilities and road frontage. Tom Mann and Derek Wilson of Marcus & Millichap represented the seller, a limited liability company, and secured the buyer, a bank/financial institution, in the deal. The acquisition price was not released.

January 5, 2017

gateway-sw-industrial-park-missouri-city-tx

Industrial Texas

Tire Universe Leases 42,430 SF of Industrial Space in Metro Houston

by Amy Works January 5, 2017

MISSOURI CITY, TEXAS — Tire Universe, a tire retailer, has signed a long-term lease for 42,430 square feet of industrial space at Gateway Southwest Industrial Park in Missouri City, a southwest suburb of Houston. Situated within the 131,560-square-foot Building 1, the fully outfitted space includes a 1,400-square-foot office component, nine dock doors and T-5 lighting. Sandy Kee of Kee Commercial Realty represented the tenant, while Ed Bane and Jon Michael of Bridge Commercial Real Estate represented the co-developers, Conor Commercial Real Estate, a member of The McShane Cos., and USAA Real Estate Co., in the deal.

January 5, 2017

Office Texas

Cypressbrook Negotiates Sale of 6,000 SF Office Building in Spring, Texas

by Amy Works January 5, 2017

SPRING, TEXAS — Cypressbrook Co. has arranged the sale of an office building located at 22315 Gosling Road in Spring. Primo Hot Tubs & Swim Spas Inc. acquired the 6,000-square-foot property from Coil Tubing Technology Inc. for an undisclosed price. Joyce Sterling of Cypressbrook Co. brokered the transaction.

January 5, 2017

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