Texas

HFF Secures Capital for Development of Apartment Complex in Plano

by Haisten Willis January 11, 2016

PLANO, TEXAS — HFF has secured capital for the development of The Huntington, a 320-unit apartment community in west Plano. HFF worked on behalf of a joint venture between Catalyst Urban Development and LandPlan Development to secure first mortgage construction financing through a regional bank and equity through Canyon Partners Real Estate. The Huntington will be built on a 5.5-acre site in the northeast quadrant of Preston Road and Headquarters Drive. The property will be adjacent to Legacy Business Park, a 2,655-acre office development that hosts several corporate headquarters including Toyota and FedEx. Due for completion in the first quarter of 2018, the property’s amenities include a swimming pool, grilling area, fire pits, two dog-friendly open spaces and fitness center. An attached parking garage offers direct access to each building level. Jeremy Sain led the HFF team representing the developer.

January 11, 2016

Grandbridge Arranges $6.2M Loan for Office Building in Houston

by Haisten Willis January 11, 2016

HOUSTON — Adam Lipkin of Grandbridge Real Estate Capital’s Miami team has secured a $6.2 million bridge loan for a Houston-area office building. A sovereign wealth fund operated by the Republic of Nauru owns the property. A direct small-balance commercial real estate lender provided the two-year loan to the Nauru Phosphate Royalties Trust, a subsidiary of Nauru Realty Trust. With just under 10,000 inhabitants, Nauru is the world’s smallest island nation. Its government developed the Nauru Phosphate Royalties Trust to invest proceeds from a state-owned mining company. The loan facilitated by Lipkin provides a short-term financing solution for the Houston office building, which is occupied by Jacobs Technology, a wholly owned subsidiary of publicly traded NASA contractor Jacobs Engineering Group. Jacobs provides technical, professional and construction services to various industrial, commercial and governmental clients. The Jacobs office building is located at 2224 Bay Area Blvd. at the hard corner of Bay Area Boulevard and Space Center Boulevard in the Clear Lake area of Houston.

January 11, 2016

Office Texas

Moody Rambin Arranges Office Lease in Houston

by Haisten Willis January 11, 2016

HOUSTON — Weeks Marine has leased 8,266 square feet at the Columbia Centre building located at 11011 Richmond Ave. in the Westchase submarket of Houston. Griff Jaggard and Kurt Kistler of Moody Rambin represented the building owner, DIG Columbia Centre, in the lease. Andre Granello with Cresa Partners represented the tenant in negotiations. Weeks Marine is a marine construction and dredging company.

January 11, 2016

Industrial Texas

SSGT Acquires San Antonio Self-Storage Facility for $12.3M

by Haisten Willis January 11, 2016

SAN ANTONIO — Strategic Storage Growth Trust (SSGT), which is sponsored by SmartStop Asset Management, has acquired a self-storage facility in San Antonio for $12.3 million. The facility consists of 385 self-storage units and 49,250 square feet of storage space. In addition, the property contains 5,800 square feet of cold storage space, 8,300 square feet of office space and 9,000 square feet of warehouse space. The property, located at 875 E. Ashby Place, will offer climate-controlled units.

January 11, 2016

Retail Texas

Hunington Properties Sells 4,826 SF Burger King in McAllen

by Haisten Willis January 11, 2016

MCALLEN, TEXAS — Hunington Properties has arranged the sale of a 5,000-square-foot Burger King restaurant located at 700 W. Nolana St. in McAllen. The tenant operates 275 Burger King restaurants in Texas and Florida. The premises are subject to a long-term triple net lease.

January 11, 2016

Office Texas

Regent Properties to Invest $100M in Corporate Campus Renovation in Plano

by Haisten Willis January 8, 2016

PLANO, TEXAS — Regent Properties plans to redevelop Legacy Central, a mixed-use campus located at Legacy Drive and Central Expressway in Plano. Regent acquired the property on Dec. 17, 2015. The $100 million campus renovation will accommodate office tenants ranging from 25,000 to 1 million square feet in four existing buildings on 84 acres. The buildings will be retrofitted while undeveloped land will be readied for complementary uses, such as restaurants, a hotel and retail, as well as additional mid-rise office buildings in the future. The site is entitled for up to 3.7 million square feet, allowing office tenants an expansion opportunity via additional office buildings on a build-to-suit basis. A ground breaking is planned for the second quarter of 2016. The property was acquired from Texas Instruments (TI), which had owned the site since the 1980s and built the four office buildings and fitness center for its own use. TI will lease back two of the buildings through 2016, finalizing a phase-out from the campus. The renovations will include indoor and outdoor conference rooms, a 150-seat auditorium, 30,000-square-foot fitness center, yoga rooms, lap swimming pool, sand volleyball court, tennis court, rock climbing wall, indoor basketball court, one-mile jogging/biking trail, …

January 8, 2016

Hospitality Texas

Central Texas Medical Investments Sells Medical Office Building in Waco

by Haisten Willis January 8, 2016

WACO, TEXAS — Central Texas Medical Investments, a physician-owned limited partnership, through a joint sale, has transferred ownership of two medical office buildings in Waco. The Class A assets are located at 601 W. Highway Six and 6600 Fish Pond Road and are known as the Six West and Fish Pond Medical office buildings. They were built in 2006 and 2000 and span 107,744 and 54,901 square feet, respectively. Six West is 100 percent occupied, while Fish Pond is 94 percent occupied. HP Waco Six Medical is the new owner. Triliji Group of Waco served as the listing broker and advisor to Central Texas Medical Investments, while Medical Real Estate, with cooperation from Stealth Realty Advisors of Houston, procured HP Waco.

January 8, 2016

Mesquite-Texas-951-Town-East-Boulevard-Skyline-Bus-Park-Building-one

Industrial Texas

Binswanger Negotiates Industrial Lease in Metro Dallas

by Haisten Willis January 8, 2016

MESQUITE, TEXAS —Binswanger has negotiated an industrial lease of 300,283 square feet at Skyline Business Park Building 1, located at 951 Town E. Blvd. in Mesquite. The lease was arranged on behalf of the tenant, We Pack Logistics. We Pack Logistics is a national supply chain management firm providing clients with contract packaging and distribution services. The company is launching operations in the facility this month for a new client contract in the food and beverage industry. Skyline Business Park Building 1 is a rail-served, 457,076-square-foot warehouse/distribution facility located on 27.7 acres. The property is located at Chase Road and Skyline Drive, adjacent to the Union Pacific Railroad Intermodal yard with access to I-635 and US-80. Holmes Davis of Binswanger’s Dallas office handled the transaction for the tenant. John Hendricks with CBRE represented the landlord, LIT Industrial.

January 8, 2016

Retail Texas

Faris Lee Investments Completes $25.1M Sale of LA Fitness-Anchored Shopping Center in Houston

by Haisten Willis January 8, 2016

HOUSTON — Faris Lee Investments has completed the $25.1 million sale of Westgate Market, an 80,690-square-foot shopping center in Houston. The property is anchored by a freestanding LA Fitness, and is 91 percent occupied by tenants including The Vitamin Shoppe, Massage Envy, Panera Bread and Applebee’s. Nicholas Coo, Matthew Mousavi and Patrick Luther of Faris Lee Investments represented the seller, a Los Angeles-based private investor. The buyer, an Argentina-based private real estate holding company, represented itself in the transaction. Built in 2004 and 2005, Westgate Market is located at 19504 to 19740 Katy Freeway (I-10) and 19950 Restaurant Row, at the intersection of I-10 Frontage Road and Foxlake Drive.

January 8, 2016

Office Texas

M&M Arranges Sale of Office Building in Houston

by Haisten Willis January 8, 2016

HOUSTON — Marcus & Millichap has arranged the sale of an office property located in Houston. The building consists of 53,472 rentable square feet on a 2.4-acre parcel. Keith Lloyd of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Derek Hargrove and Justin Miller, also of the firm’s Houston office, secured the buyer, a Houston-based investor. The property is located at 2411 Fountain View Drive just to the north of Westheimer Road in Houston’s Uptown/Galleria area.

January 8, 2016

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