Texas

IPA Arranges Sale of The Phoenix Apartment Complex in Fort Worth

by Haisten Willis January 14, 2016

FORT WORTH, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of The Phoenix, a 170-unit luxury multifamily community in the Near Southside district of Fort Worth. Will Balthrope, Drew Kile and Rowan Burch of IPA advised the sellers, Fort Worth-based Eisner Development Corp. and Baton Rouge, La.-based Ventures Development Group. Balthrope, Kile and Burch also procured the buyer. The property is located at the intersection of College Avenue and West Peter Smith Street, just south of I-30 and west of I-35 West at 429 College Ave. Amenities at The Phoenix include a 24-hour gated entrance, a 4,257-square-foot office and clubhouse with a catering kitchen and fitness/yoga area, as well as a pool with a tanning shelf. All apartments feature granite kitchen countertops, stainless steel appliances, pantries and linen closets. Each apartment has a balcony, and 52 units have unobstructed views of the Fort Worth skyline.

January 14, 2016

Glasfloss Industries Purchases Headquarters Building in Metro Dallas

by Haisten Willis January 14, 2016

DESOTO, TEXAS — Glasfloss Industries has purchased a new headquarters building within the Eagle Industrial Park area in Desoto. Glasfloss is working on preparing the building for machinery setup and operations and is expecting to move in around mid-year. Established in 1936, Glasfloss Industries is the oldest manufacturer of HVAC air filtration products in the United States. The company has been continuously owned and operated by the same family for 80 years and serves all major commercial, industrial and residential HVAC filtration markets. JLL’s Craig Phelps and Worth Ross & Associates’ Steve Sheperd negotiated the transaction on behalf of the buyer.

January 14, 2016

archway-properties-millsap-texas-geodynamics

Loans Office Texas

Q10 KDH Arranges $2.8M Financing for Office Building in North Texas

by Haisten Willis January 14, 2016

MILLSAP, TEXAS — Q10 KDH’s Matt Franke has arranged $2.8 million in financing for an affiliated entity of Archway Properties, which developed GEODynamics’ new corporate office building in Millsap. The Class A office building spans 15,866 square feet and is 100 percent occupied. The single-story property features an exterior of stone and brick and drought-resistant landscaping. Interior skylights and windows provide natural light. Included on the grounds is a standalone guard house. The property will consolidate several GEODynamics offices.

January 14, 2016

Office Texas

Quintana Minerals Corp. Leases Office Space in Houston

by Haisten Willis January 14, 2016

HOUSTON — Quintana Minerals Corp. has leased 17,465 square feet of office space at 1415 Louisiana St., a 43-story office tower located in Houston’s central business district. Quintana is relocating from 601 Jefferson St. to the 520,000-square-foot, Class A office building, which is connected through tunnels to many downtown amenities including dining, shopping, services and more. Connor Saxe of Colvill Office Properties and Richard Barbles of Stream Realty represented the property’s ownership, Wedge Commercial Properties, in the lease transaction. Philip Price, formerly of Cushman & Wakefield and now of Newmark Grubb Knight Frank, along with Trey Strake of Cushman & Wakefield, represented the tenant. A capital improvement campaign is underway, and once complete, the building will feature a new main entry, a main lobby accented with Italian stone, a tunnel makeover including new lighting, floor and wall treatments, and a new back-painted glass elevator lobby. The expected completion date of the renovations is March 2016.

January 14, 2016

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Retail Texas

M&M Arranges Sale of 18,784 SF Retail Property in Houston

by Haisten Willis January 14, 2016

HOUSTON — Marcus & Millichap has arranged the sale of Centre at Wallisville, an 18,784-square-foot retail property located in Houston. Matthew Mignerey and Derek Hargrove of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Centre at Wallisville is located at 15119 Wallisville Road in Houston.

January 14, 2016

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Hospitality Mixed-Use Multifamily Office Retail Texas

Riverside Resources Begins Construction on Mixed-Use Development in Metro Austin

by Haisten Willis January 13, 2016

CEDAR PARK, TEXAS – Riverside Resources has begun construction on the first phase of a 100-acre mixed use campus on Parmer Lane in Cedar Park. The first phase of the campus, called Presidio, will feature 74,000 square feet of office space, a 100-room hotel, 320 urban lofts and 21,000 square feet of retail/restaurant space. The initial phase spans 26 acres off the southeast corner of Parmer Lane and Ranch Trails Court. The remaining 74 acres is on the other side of Ranch Trails Court. Presidio will be able to accommodate an office campus with upwards of 500,000 square feet, along with additional lofts, retail and restaurant space. The design’s intent is to bring a more urban, walkable mixed-use campus to Parmer Lane and Cedar Park, with a trail system, local restaurants, a park and a food trailer court. The Phase I office building has been 50 percent pre-leased to American Constructors and will be ready for occupancy in the fall of 2016. In early 2016, Riverside Resources will also move ahead with the other components of the first phase, including a 21,000-square-foot restaurant and retail component it’s developing in partnership with Chris Whitworth and Mauricio Gonzalez Kane of Cordova Real …

January 13, 2016

Retail Texas

SRS Arranges Sale of The Ridge in North Austin

by Haisten Willis January 13, 2016

AUSTIN, TEXAS — SRS Real Estate Partners has represented a private development group in the sale of The Ridge, a two-building retail center in north Austin. The Ridge is located at the southeast quadrant of Parmer Lane and Tech Ridge Boulevard. The 19,300-square-foot center houses a mix of national, regional and local tenants such as Sherwin-Williams, Rush Laundry, Brooklyn Pie and Little Woodrow’s. Ryan Hoff, vice president at SRS Real Estate Partners, represented the seller in the transaction, while Logan Reichle of CBRE represented the buyer.

January 13, 2016

Office Texas

Pace Communications Opens New Office in Dallas

by Haisten Willis January 13, 2016

DALLAS — Jerry Averyt of Henry S. Miller Brokerage’s office division has represented Pace Communications in the lease of its new office space in Dallas. Pace Communications leased 3,400 square feet at 2811 McKinney Ave. from 2811 McKinney TT. Blake Shipley and Ashley Curry of JLL represented the landlord in the transaction.

January 13, 2016

Retail Texas

Academy Sports + Outdoors, Hobby Lobby to Open in Greenville

by Haisten Willis January 13, 2016

GREENVILLE, TEXAS — Academy Sports + Outdoors and Hobby Lobby will build new locations at Kari Beth Krossing, a retail power center located at the northwest corner of I-30 and State Highway 34 in Greenville. Both stores are slated to open this summer. Developed by The Stainback Organization, a commercial real estate development and brokerage company headquartered in Dallas since 1987, Kari Beth Krossing is anchored by a 138,000-square-foot Lowe’s Home Improvement store and national retailers Cotton Patch Café, Chick-fil-A, Starbucks Coffee and Discount Tire. The additions of the 63,000-square-foot Academy Sport + Outdoors and the 55,000-square-foot Hobby Lobby store, along with additional 12,400-square-foot retail/restaurant space which will include a Chipotle Mexican Grill, brings the total space to nearly 300,000 square feet.

January 13, 2016

Retail Texas

Hunington Acquires Land for Retail Development in Houston

by Haisten Willis January 13, 2016

HOUSTON — Hunington Properties has purchased 3.3 acres in Wolff Cos.’ Ten Oaks, an 83-acre master-planned development, for the development of The Shops at Ten Oaks. Construction is expected to begin in the spring on the shopping center, which includes a freestanding quick service restaurant and an additional 20,000 square feet of general retail space. Located at the northwest corner of Barker Cypress Road and Park Row, The Shops at Ten Oaks will be developed next to the newest Hunington Residential multifamily project, The Vic on Park Row. The project will also be adjacent to Western International’s Courtyard by Marriott, which opened in 2015, and Hampton Inn & Suites, which is under construction. The development is also located within the Texas Medical Center’s west campus, where Texas Children’s Hospital and Methodist Houston Hospital are both undergoing expansions.

January 13, 2016

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