Texas

Transwestern Arranges 394,489 SF Industrial Lease in Metro Houston

by Haisten Willis January 25, 2016

PASADENA, TEXAS — California-based Plastic Express has pre-leased 394,489 square feet in Phase II at Port 225 in Pasadena, near the Port of Houston. Phase II consists of three buildings under construction with expected completion in the second quarter of 2016. Totaling 753,864 square feet, the project is now 65 percent pre-leased. Completed in 2008, Phase I consists of three buildings totaling 697,000 square feet and is 100 percent leased. At completion, Port 225 will consist of six distribution buildings totaling 1.45 million square feet. Plastic Express was founded in 1970 and provides custom-tailored and logistical solutions for the plastics industry, as well as non-plastic materials including steel, paper, lumber and other products. Transwestern’s Brian Gammill and Darryl Noon represented the building owner, Clarion Partners, in the lease transaction. Jeff Huberman, Mike Spears and Robert McGee of Lee & Associates represented Plastic Express. Houston-based Transwestern Development Co. is providing development and construction management services.

January 25, 2016

Moody Rambin Negotiates Office Lease in Houston

by Haisten Willis January 25, 2016

HOUSTON — Houston Medical Records has renewed 8,742 square feet of office space at the Norfolk Tower building located at 2211 Norfolk St. in Houston. Griffin Jaggard and Terri Torregrossa of Moody Rambin represented the building owner, The Realty Associates Fund IX. Travis Taylor with Lee & Associates represented the tenant in negotiations.

January 25, 2016

Loans Multifamily Texas

Q10 KDH Arranges $2M Financing for Plainview Apartments in Plainview

by Haisten Willis January 25, 2016

PLAINVIEW, TEXAS — Q10 KDH’s Larry Peters has arranged $2 million in permanent financing for Plainview Apartments in Plainview. The property consists of 15 one-bedroom units, 97 two-bedroom units and 18 three-bedroom units with an average unit size of 924 square feet. The units are situated throughout 49 one- and two-story buildings spanning 120,132 square feet. The fully occupied property is situated on 9.3 acres at 2504 W. 16th St.

January 25, 2016

the-woodlands-terramount-village-shopping-center

Retail Texas

M&M Arranges Sale of 24,794 SF Retail Center in The Woodlands

by Haisten Willis January 25, 2016

THE WOODLANDS, TEXAS — Marcus & Millichap has arranged the sale of Terramont Village Shopping Center, a 24,794-square-foot retail property located in Village of Sterling Ridge in The Woodlands. Jerry Goldstein of Marcus & Millichap’s Houston office, along with and Nate Newman of the firm’s The Woodland’s office, marketed the property on behalf of the seller, EDENS, a retail REIT based in Columbia, S.C. Goldstein and Newman also secured and represented the buyer, a private investor. Terramont Village Shopping Center is located at 30340 FM 2978 Road, just south of its intersection with Woodlands Parkway.

January 25, 2016

Multifamily Student Housing Texas

Berkadia Arranges Sale of Apartment Complexes in College Station

by Haisten Willis January 25, 2016

COLLEGE STATION, TEXAS — Lutz Real Estate Investments, in a joint venture with Harrison Street Real Estate Capital, has sold University Square and Laurel Ridge Apartments located near Texas A&M University in College Station. Kevin Larimer of Berkadia represented the seller in the transaction. Lutz and Harrison Street acquired University Square and Laurel Ridge in December 2012. Upon acquisition, Lutz upgraded the unit interiors, amenities and technology infrastructure, and made cosmetic upgrades at both properties.

January 25, 2016

kroger-burleson-commons-cullinan-properties

Retail Texas

Kroger Marketplace Opens at Burleson Commons in Metro Dallas

by Haisten Willis January 22, 2016

BURLESON, TEXAS — Kroger Marketplace is now open in Burleson Commons, located at the intersection of Wilshire Boulevard (State Highway 174) and FM 731 in Burleson. Kroger conducted a grand opening of the 120,000-square-foot store on Jan. 8. The grocery store, which features a Kroger Fuel Center and Kroger Pharmacy, joins Premiere Cinemas as a co-anchor of the shopping center, which is owned and managed by Peoria, Ill.-based Cullinan Properties. SRS Real Estate’s Dallas/Fort Worth office represented Cullinan Properties in the transaction. The new store will feature more than 60 shopping aisles and more than 20 checkout lanes, as well as a Starbucks coffee shop. The store will employ more than 300 associates. Daily hours of operation are from 6 a.m. to 1 a.m.; pharmacy hours may vary.

January 22, 2016

Office Texas

Trigate Capital Purchases Northbelt Office Center II in Houston

by Haisten Willis January 22, 2016

HOUSTON — TriGate Capital has purchased Northbelt Office Center II, a two-story office building located at 785 Greens Parkway in Houston. C-III Asset Management, which took control of the property via foreclosure in April 2014, sold the office building. The property totals 124,000 square feet and is 68 percent occupied. The building is expected to be less than 50 percent occupied following a planned tenant move-out in mid-2016. TriGate has invested capital to reposition the building, including exterior and interior renovations. TriGate purchased the property without an operating partner and has hired Transwestern for third-party leasing and management services.

January 22, 2016

Mixed-Use Multifamily Office Restaurant Retail Texas

Southside Magnolia Purchases Mixed-Use Building in Fort Worth

by Haisten Willis January 22, 2016

FORT WORTH, TEXAS — Southside Magnolia Partners has acquired a mixed-use building located at 701 W. Magnolia Ave. in Fort Worth. Situated on the southwest corner of Magnolia Avenue and Hemphill Street, the building is the former headquarters of Fort Worth National Bank. The building features residential living, casual dining, retail and office space. Anchor tenants include Southside Bank and Shinjuku Station. There is a 4,000-square-foot site available for restaurant or retail, as well as five lofts on the second floor. Will Martin and Southside Magnolia Partners have a light restoration in plan for the property, but parts of the building still have original architectural features including exposed brick, hardwood floors and views of downtown Fort Worth. W. Martin and Co. represented the buyers and Grant Huff with Transwestern represented the seller.

January 22, 2016

Palm Bluff-Place-Apartments-Portland-Texas

Multifamily Texas

Oldham Goodwin, MGroup to Develop Apartment Community Near Corpus Christi

by Haisten Willis January 22, 2016

PORTLAND, TEXAS — Oldham Goodwin Group, in conjunction with MGroup, will develop Palm Bluff Place Apartments in Portland. The new development will be a 250-unit, Class A community located at the corner of Cedar Drive and Billy G. Webb Drive. Oldham Goodwin’s development services division will oversee the development of the project, as well as provide construction management services. The project team is working with ARRIVE Architecture Group to design the community. FCI Multi-Family Construction will oversee construction. Construction for Palm Bluff Place is expected to begin Jan. 25, with a projected completion date in the third quarter of 2017.

January 22, 2016

Industrial Texas

Stream to Develop Data Center in Plano

by Haisten Willis January 22, 2016

PLANO, TEXAS — Stream Data Centers has acquired 16 acres at Legacy Business Park, a master-planned, mixed-use development in Plano, to build a data center. The new data center will be a 210,000-square-foot, ground-up development. Additionally, Stream plans to build the data center to LEED Silver standards. This will be Stream’s second data center in Legacy and its fourth development in the Dallas market in the last four years. Stream Data Centers will break ground on the Plano data center in the second quarter of 2016, and the facility will be ready for occupancy in the first quarter of 2017.

January 22, 2016

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