Texas

Crow Holdings Breaks Ground on 351,960 SF Industrial Park in Metro Houston

by Haisten Willis February 9, 2016

STAFFORD, TEXAS — Crow Holdings Industrial (CHI) has broken ground on Stafford Grove Industrial Park, a 351,960-square-foot business park located at the corner of West Airport Boulevard and Murphy Road in Stafford. The Class A development will consist of three buildings: a 95,400-square-foot rear-load building, a 165,000-square-foot cross-dock building and a 91,560-square-foot front-load building. The project is expected to be complete in the third quarter of 2016. Amenities include an ESFR sprinkler system, 24- to 30-foot clear heights and trailer storage. This is CHI’s second development in Houston’s metropolitan area. Stream’s Justin Robinson, Matteson Hamilton and Dane Petersen will handle leasing and management of the property. Rosenberger Construction is the general contractor on the project.

February 9, 2016

Mason Joseph Co. Secures $18.7M Construction Loan for Apartment Community in Denison

by Haisten Willis February 9, 2016

DENISON, TEXAS — Mason Joseph Co., a San Antonio-based FHA multifamily lender, has secured an $18.7 million loan for the construction and permanent financing of The Residence at Gateway Village. The property is a proposed 180-unit apartment community in Denison. The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. The borrower secured a non-recourse loan that is fixed for the initial 16-month construction period and a subsequent 40-year term. Residence at Gateway Village is being built as part of a master-planned development, Gateway Village, on the west side of US Highway 75 at Grayson Drive. The apartment will be spread over eight three-story buildings. Sherman, Texas-based Covenant Development Partners, a privately held regional multifamily development and investment firm, is developing the project. Parkcrest Builders will serve as the project’s general contractor, and Residence Property Co. will serve as the management agent.

February 9, 2016

Loans Multifamily Texas

Dougherty Mortgage Secures $9.9M Fannie Mae Loan for Las Colinas Apartments in Austin

by Haisten Willis February 9, 2016

AUSTIN, TEXAS — Dougherty Mortgage has secured a $9.9 million Fannie Mae loan for the acquisition financing of Las Colinas Apartments, a 177-unit apartment property located in Austin. Property amenities include two laundry facilities, courtyards with barbecue and picnic areas, a community room and a children’s playground. A partnership between Old Capital Lending and Dougherty’s Minneapolis office arranged the loan on behalf of the borrower, 1500 Reagan Hill LLC. The loan features a 12-year term and 30-year amortization schedule.

February 9, 2016

americanstar-mattress-1185-West-Corporate-Drive-Arlington-texas

Industrial Retail Texas

Americanstar Mattress Opens North Texas Showroom, Distribution Center in Arlington

by Haisten Willis February 9, 2016

ARLINGTON, TEXAS — Americanstar Mattress LLC has entered the north Texas market, inking a 25,230-square-foot lease for showroom and distribution space in the Great Southwest Industrial District. The California-based company has leased as-is space at 1185 W. Corporate Drive in Arlington. Will Dillard of Dallas-based Bradford Commercial Real Estate Services represented the tenant, who also has a distribution center in Houston. Americanstar’s first location in the region is accessible to I-30 and TX 360. The rear-load structure has a 24-foot clear height and four loading docks. Bill Bexley of JSC Realty Investment Services Inc. represented Avenue J Partnership Ltd., landlord of the fully leased, 50,265-square-foot industrial building.

February 9, 2016

advalurem-bella-madera-lake-lewisville-texas

Loans Multifamily Texas

Advalurem Group Venture Refinances Apartment Community in Metro Dallas

by Haisten Willis February 8, 2016

LEWISVILLE, TEXAS — An Advalurem Group venture has completed the refinancing of Bella Madera at Lake Lewisville, a 612-unit, Class A apartment community in Lewisville. Advalurem Group initially completed a joint venture equity investment with its partner, BRES, for Bella Madera in 2013. At the time of acquisition, the partnership assumed an existing first mortgage loan and secured preferred equity financing from a financial institution. At the current market value of $65.6 million, the venture refinanced the property concurrently with a recapitalization of the partnership by buying out the preferred equity partner. Built in 2009, Bella Madera at Lake Lewisville is 96 percent occupied.

February 8, 2016

Mixed-Use Restaurant Retail Texas

Golden Chick Opens New Location in Burleson Commons Mixed-Use Development

by Haisten Willis February 8, 2016

BURLESON, TEXAS — Golden Chick has opened a new location at Burleson Commons. The property is located at the intersection of Wilshire Boulevard and FM 731 in Burleson. Golden Chick joins the new Kroger, which opened last month. Cullinan Properties, headquartered in Peoria, Ill., owns and manages Burleson Commons. SRS Real Estate’s Dallas/Fort Worth office represented Cullinan in the sales transaction. First opened in the late 1960’s in San Marcos, Golden Chick is a chain of franchise restaurants in the south and southwest United States with more than 150 locations. The chain’s flagship menu item has been its Golden Tenders, which are marinated, hand-battered chicken tenderloins.

February 8, 2016

Industrial Texas

Cypressbrook Co. Arranges Sale of Land, Industrial Property in Metro Houston

by Haisten Willis February 8, 2016

CYPRESS, TEXAS — Greg Usher of Cypressbrook Co. has represented Argen Polymer LLC in the purchase of two tracts of land totaling 10.8 acres and a warehouse building containing 15,000 square feet on Telge Road in Cypress. Steve Adkisson of Adkisson Group represented the seller, SF Telge Park LLC.

February 8, 2016

Retail Texas

M&M Arranges Sale of 12,054 SF Retail Property in Arlington

by Haisten Willis February 8, 2016

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of North Davis Plaza, a 12,054-square-foot retail property located in Arlington. Bill G. Jordan of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a partnership. Jordan also secured the buyer, a private investor. North Davis Plaza is located at 2430 N. Davis Drive. The shopping center was built in 1985 and is 52 percent occupied. Tenants include Animal Clinic of Arlington, Mr. Jim’s Pizza, Sportswear World and The Dog Grooming Shop.

February 8, 2016

Office Texas

TIG Negotiates 25,568 SF Office Lease in Metro Dallas

by Haisten Willis February 8, 2016

COPPELL, TEXAS — Tom Smolik and Matthew Hickey of TIG have represented the unnamed landlord in a 25,568-square-foot, long-term lease renewal at Coppell Tech Center II, located at 1322 Crestside Drive in Coppell. Mark Miller of NAI Robert Lynn represented the tenant, MasTec International, in the transaction.

February 8, 2016

Office Texas

KDC Begins Construction on KPRC Channel 2 Broadcast Facility in Houston

by Haisten Willis February 5, 2016

HOUSTON — KDC has started construction on a 60,000-square-foot office building for KPRC Channel 2, Houston’s NBC affiliate. Located at 8181 Southwest Freeway in Houston’s Sharpstown district, KPRC’s new headquarters will house all aspects of the broadcast business and more than 180 employees. The project is being built 15 feet away from KPRC’s existing broadcast station, allowing utilities to be relocated while the station remains active. Completion is slated for February 2017. The facility will have two new studios with supporting control rooms for broadcasting live news programs. A 9,000-square-foot newsroom will be built as an open concept with 14-foot ceilings and exterior windows, giving employees a view into a courtyard that includes seating areas and an outdoor kitchen. KPRC’s new facility will have a two-story atrium and staircase in the center of the building to provide natural light and a central meeting location. Additional space will be allocated for the sales department and creative services department. Corgan is the project architect, DPR Construction is the general contractor, Bury is the civil engineer, AG&E is the structural engineer, Telios is the MEP engineer and Office of James Burnett is the landscape architect.

February 5, 2016

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