Texas

Stan Johnson Completes $19.2M Sale of Medical Office Building in Fort Worth

by Haisten Willis November 1, 2016

FORT WORTH, TEXAS — Stan Johnson Co., a net lease brokerage firm, has completed the $19.2 million sale of the Midtown Medical Office Building, a 57,404-square-foot, multi-tenant medical office building located at 900 Jerome St. in Fort Worth. Toby Scrivner, Jeff Matulis, Grant Wilkins and Colin Cornell of Stan Johnson’s Healthcare Net Lease Group represented the seller, Ridgeline Capital Partners. Stan Johnson Co. also represented the buyer in the transaction. The property is adjacent to the Plaza Medical Center of Fort Worth, a 216-bed short-term acute care facility, and is part of a mixed-use development with both a hotel and restaurants located on site.

November 1, 2016

Office Texas

Younger Partners Arranges Pair of Office Leases in Dallas

by Haisten Willis November 1, 2016

DALLAS — Younger Partners has arranged a pair of office leases totaling 27,979 square feet at Park Central 3 and Park Central 4 in Dallas. The deals included a renewal expansion and a new tenant. Younger Partners’ Heather Shover, Kathy Permenter and Sean Dalton represented the landlord, Pittsburgh-based McKnight Realty Partners, in the deals. In the first transaction, Holmes Murphy & Associates expanded its lease by 20,504 square feet to a total of 72,477 square feet at Park Central 4, located at 12712 Park Central Dr. in Dallas. Sarah Hinkley and T.D. Briggs of Peloton Commercial Real Estate represented the tenant. In the second transaction, Supply Sanitation Systems LLC signed a new 7,475-square-foot lease at Park Central 3, located 12700 Park Central Drive Transwestern’s Nora Hogan and Jordan Wade represented the tenant.

November 1, 2016

Loans Multifamily Texas

Pillar Originates $15.6M Fannie Mae Loan for Multifamily Community in Metro Houston

by Haisten Willis November 1, 2016

CONROE, TEXAS — Pillar has secured a $15.6 million refinancing loan for Heritage at Hooper Hill. The 200-unit multifamily property was built in 2005 and is located in Conroe, just north of The Woodlands in the northern Houston submarket. Cullen O’Grady of Pillar’s Bethesda, Md. office secured the loan on behalf of the borrower, a Washington, D.C.-based commercial real estate property owner and developer. The 12-year, fixed-rate Fannie Mae loan includes a 30-year amortization schedule with four years of interest-only payments.

November 1, 2016

Office Texas

WatchGuard Video to Build $46M Office Facility in Allen

by Haisten Willis October 31, 2016

ALLEN, TEXAS — WatchGuard Video, a manufacturer of law enforcement video systems, will be building its new corporate headquarters in Allen, accommodating up to 700 employees. The build-to-suit project will be completed in two phases for a total of 200,000 square feet of office space and a corporate investment of $46 million. WatchGuard’s new corporate headquarters will be located on 12 acres at the intersection of Exchange and Andrews parkways near Cabela’s and Topgolf, just east of Central Expressway. The first phase of the two-story, 140,000-square-foot office facility is expected to cost $36 million and will open at the end of 2017. The company’s second phase, set for a 2022 completion, will add another 60,000 square feet of space and is expected to require an additional $10 million investment. The company expects to move between 280 and 300 employees into the new office, with a total capacity of around 500 employees before further expansion is necessary. The facility will include open group areas for collaborating, training rooms, an outdoor recreation space, indoor racquetball court, gym, health clinic and a “customer experience room” that allows demonstrations of the company’s products.

October 31, 2016

Industrial Texas

ML Realty Partners Acquires Six-Building Industrial Portfolio in Irving

by Haisten Willis October 31, 2016

IRVING, TEXAS — ML Realty Partners has acquired a six-building, 303,687-square-foot industrial portfolio within Union Bower Business Park in Irving. Ranging in size from 30,970 to 64,672 square feet, the buildings are located near Loop 12, Highway 183 and I-35 providing access to Dallas/Fort Worth International Airport and the Dallas central business district. The portfolio includes: 200 Union Bower Court – 59,330 square feet 300 Union Bower Court – 54,000 square feet 400 Union Bower Court – 58,540 square feet 1001 N. Union Bower Road – 64,672 square feet 1101 N. Union Bower Road – 36,175 square feet 1125 N. Union Bower Road – 30,970 square feet

October 31, 2016

Office Texas

SVN Arranges Sale of Office Building in Dallas

by Haisten Willis October 31, 2016

DALLAS — SVN has arranged the sale of a four-story office building located at 8344 R.L. Thornton Freeway in Dallas. SVN’s Steve Fithian and Robin Francis-Baker represented both the buyer, 4D Circle LLC, and the seller, Ozinus Thornton LLC, in the transaction. The 50,075-square-foot property was built in 1984 and stands on 2.2 acres. The Class B property is more than 90 percent leased to tenants including Resource One, Lira Bravo Law, GAO Construction Services, Farmers Insurance, Reliable Life Insurance, Tillery & Associates, World Impact Dallas, Elim Health, Texas AFT, Staff Force and Dr. Pedro Zevallos.

October 31, 2016

tgs-cedar-port-industrial-park-baytown-texas

Industrial Texas

NAI Partners Negotiates Sale of 200 Acres in Baytown to Plastics Industry Company

by Haisten Willis October 31, 2016

BAYTOWN, TEXAS — NAI Partners has negotiated the sale of 200 acres in Baytown. TGS Cedar Port Partners sold the land to Ravago Americas, a distributor of plastic and rubber materials. The transaction represents the second major development in Phase II of TGS Cedar Port Industrial Park, a 750-acre tract with access to Highway 1405 and Highway 99. Phase I of TGS Cedar Port’s is fully contracted for development and Phase II is ready for development. The industrial park is located in Chambers County near Baytown, and includes 15,000 acres with heavy utilities and industrial and commercial transportation infrastructure. The park is barge and rail served by the Union Pacific and the BNSF Railroads. John Ferruzzo, John Simons and Joel Michael of NAI Partners represented the seller, TGS Cedar Port Partners, during negotiations. Gray Gilbert of CBRE represented Ravago Americas.

October 31, 2016

Industrial Texas

M&M Negotiates Sale of 37,350 SF Self-Storage Facility in Tulsa

by Haisten Willis October 31, 2016

TULSA, OKLA. — Marcus & Millichap has negotiated the sale of 38th Street Mini Storage, a 37,350-square-foot self-storage facility located in Tulsa. Trey Hammond and Michael Mele of Marcus & Millichap’s Tulsa office marketed the property on behalf of the seller, a limited liability company. Hammond and Mele also secured and represented the buyer, a private investor. 38th Street Mini Storage is located at 7711 E. 38th St. with visibility from Highways 64 and 51. The facility consists of 354 non-climate controlled units ranging from 50 to 400 square feet. The facility, initially constructed in 1960 with a solid concrete slab and metal framing, is secured by electronic gate access and recorded video surveillance.

October 31, 2016

Hospitality Texas

Meyers Group Purchases Historic Camino Real Hotel in El Paso

by Haisten Willis October 28, 2016

EL PASO, TEXAS — The Meyers Group has acquired the historic Camino Real Hotel in El Paso. The 356-room property is located at 101 S. El Paso St. in the city’s downtown district. The Meyers Group plans to completely renovate the property, which was named to the National Register of Historic Places in 1979. After the completion of the 18-month renovation project, the hotel will reopen under its historic name, Hotel Paso del Norte. The historic 10th-floor ballroom and terrace, currently being used for mechanical purposes, will be restored and will feature a full-service spa, gym, pool and pool deck.

October 28, 2016

Multifamily Texas

Carroll Organization Sells 360-Unit Apartment Complex in Houston

by Haisten Willis October 28, 2016

HOUSTON — Carroll Organization, a privately held real estate company, has completed the sale of Carroll at Shadow Creek Ranch in Houston. The 360-unit community was originally purchased in February 2012 and was the last remaining property in the firm’s first investment vehicle, Carroll Co-Invest Fund I LP. Carroll at Shadow Creek Ranch is a Class A property built in 2010. The community is located in the Shadow Creek Ranch neighborhood and features one- and two-car garages with individual driveways, private patios, nine-foot ceilings with crown molding, full-size washers and dryers and a pool.

October 28, 2016

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