Texas

M&M Arranges Sale of Self-Storage Facility in Houston

by Haisten Willis December 16, 2015

HOUSTON — Marcus & Millichap has arranged the sale of A-Alamo Storage, a 76,720-square-foot, 919-unit self-storage facility in Houston. Charles LeClaire of Marcus & Millichap’s Denver office, along with Dave Knobler of the firm’s Houston office, represented the seller and procured the buyer, Extra Space Storage. A-Alamo Storage is located less than two miles from downtown Houston. The property is located on 2.4 acres at 3535 Katy Freeway with frontage on the Katy Freeway. Constructed in 1999, A-Alamo Storage is composed of one three-story building and two two-story buildings, and consists of 854 storage units, 51 outdoor parking spaces and 14 postal boxes. The property’s amenities include a gated entrance with key code access, video surveillance, manager’s office, elevators and concrete driveways.

December 16, 2015

HFF Arranges Acquisition Financing for Apartment Complex in Austin

by Haisten Willis December 15, 2015

AUSTIN, TEXAS — HFF has arranged acquisition financing for Chez Moi, a 384-unit apartment community in Austin. Working on behalf of Griffis Residential, HFF placed the seven-year, 3.9 percent fixed-rate acquisition loan with a correspondent life insurance company. Chez Moi is situated on 21 acres at 12100 Metric Blvd. in north Austin with access to MoPac Expressway, I-35 and West Parmer Lane. The 94 percent-leased property features a variety of one-, two- and three-bedroom floor plans averaging 893 square feet. Community amenities include a swimming pool with sundeck, hot tub, outdoor fire pit, sand volleyball court, clubhouse, business center, dog park, car wash, nature trail and garage parking. Eric Tupler, Josh Simon and Casey Wenzel led the HFF debt placement team representing the borrower.

December 15, 2015

Industrial Texas

Ozburn-Hessey Logistics Adds Sixth Location in Fort Worth

by Haisten Willis December 15, 2015

FORT WORTH, TEXAS — Ozburn-Hessey Logistics LLC has set up shop in the 100,500-square-foot Northpoint Trade Center Building II in Fort Worth, leasing the entire building for its sixth location in north Texas. Nick Talley of Dallas-based Bradford Commercial Real Estate Services represented the landlord, Exeter 700-751 Eight Twenty LP, in the transaction. Ozburn-Hessey, Northpoint’s new tenant at 731 Eight Twenty Blvd. in Fort Worth, has boosted occupancy to 94 percent in the 403,160-square-foot, four-building industrial project. The remaining vacancy totals 24,276 square feet. Developed in 1999, the project offers access to I-35 and Loop 820. Building II boasts 24-foot clear heights, 26 dock doors, a sprinkler system and 116 parking spaces on a 5.2-acre tract with 120-foot truck courts. Ann Huntington of CBRE represented Nashville-based Ozburn-Hessey in the lease transaction. The company maintains more than 36 million square feet of flexible warehouse space in at least 120 logistics centers worldwide.

December 15, 2015

Multifamily Texas

Marcus & Millichap Arranges Sale of Two Apartment Buildings in Garland

by Haisten Willis December 15, 2015

GARLAND, TEXAS — Marcus & Millichap has arranged the sale of Colonial Apartments and Town Central, two Class B communities located in Garland. Scott Ogilvie and Trey Caldwell of Marcus & Millichap’s Dallas office marketed the properties on behalf of the seller, a limited liability company. Ogilvie and Caldwell also procured the buyer, a limited liability company. Colonial Apartments is located at 515 Flook St., just south of West Avenue D. Constructed in 1977, the asset consists of a total of 31 units — 25 one-bedroom/one-bath and six two-bedroom/one-bath units. At the time of listing, the occupancy rate for Colonial Apartments was 94 percent. Town Central is located at 104 11th St., just north of West Avenue A. Constructed in 1983, the asset consists of a total of 24 units — 17 one-bedroom/one-bath and seven two-bedroom/one-and-a-half-bath units. At the time of listing, the occupancy rate for Town Central was 83 percent.

December 15, 2015

Retail Texas

Franklin Street Arranges Sale of Family Dollar in Odessa

by Haisten Willis December 15, 2015

ODESSA, TEXAS — Franklin Street has arranged the sale of a newly constructed, 8,353-square-foot Family Dollar located at 520 N. County Road W. in Odessa. Mac McCall of Franklin Street’s Atlanta office represented the Alabama-based seller in the transaction. Family Dollar has executed a 15-year triple net lease at the property, with all expenses being paid by the tenant. The store opened in September.

December 15, 2015

Mixed-Use Multifamily Office Retail Texas

Thor Equities Completes Residential Mat Foundation Pour At Kirby Collection

by Haisten Willis December 14, 2015

HOUSTON — Thor Equities has completed the residential mat foundation pour at Kirby Collection, a new mixed-use development at 3200 Kirby Drive in Houston. The foundation is seven feet thick and consists of 6,000 cubic yards of concrete with 500 tons of rebar. The continuous pour took eight hours to complete and involved 150 dedicated trucks, six pump trucks and more than 200 workers. The team involved in the mat pour included general contractor E.E. Reed Construction, Keystone Structural Concrete, Campbell Concrete & Materials, ECS Texas, HiTech Electric, Schnabel Foundation Company and developer Thor Equities. Located in the Upper Kirby District near Houston’s River Oaks neighborhood, the 1 million-square-foot project will feature a 25-story, 385,000-square-foot residential tower with 199 apartments including seven two-story townhomes, and seven two-story loft spaces with private yards. The residences will overlook a deck with more than an acre of landscaped amenities including a pool with cabanas, fire pits and a bar area. The penthouse level will feature a Skyview Suite available to all residents, offering a chef’s kitchen and views of the Houston skyline. Kirby Collection’s 13-story, 210,000-square-foot Class A office building is located near the Galleria/Uptown District, Greenway Plaza and the Texas Medical Center. …

December 14, 2015

Office Texas

Vinson & Elkins LLP to Move to The Union Dallas in 2018

by Haisten Willis December 14, 2015

DALLAS — The law firm of Vinson & Elkins plans to move its firm to The Union Dallas in 2018. Vinson & Elkins will lease 80,000 square feet and occupy three floors of the 22-floor office building at RED Development’s mixed-use project located at Field Street and Cedar Springs Road. The Union is a new office, residential and retail project totaling 800,000 square feet that will open in 2017. Phil Puckett and Harlan Davis of CBRE represented Vinson & Elkins in lease negotiations, and John Brownlee and Sarah Hinkley of Peloton represented the landlord, along with Paul Rowsey of RED Development. Vinson & Elkins’ office space in the top three floors of the office tower will include balconies with 360-degree views of Uptown, Downtown, the Arts District, Klyde Warren Park, Victory Plaza and the Margaret Hunt Hill Bridge. More than 145 attorneys will occupy the new space. Designed by Dallas-based architect HKS Inc., the project will include a 60,000-square-foot Tom Thumb grocery store on the ground floor. RED Development, the project developer, announced The Union in May 2014, and is also leading the design and construction for the project.

December 14, 2015

Multifamily Texas

The Praedium Group Acquires Pine Prairie Apartments in Lewisville

by Haisten Willis December 14, 2015

LEWISVILLE, TEXAS — The Praedium Group has acquired Pine Prairie Apartments in the Dallas suburb of Lewisville. Praedium purchased the Class A, 300-unit apartment community from Westwood Residential. Pine Prairie was built in 2014 and includes 296 apartment units and four townhome-style residences. Select units feature 13-foot vaulted ceilings, attached garages, outdoor terraces or balconettes and vinyl wood-plank flooring. The pet-friendly community also includes a laundry facility, clubhouse with a fireplace and kitchen, internet café, swimming pool, outdoor BBQ grill stations and a fitness center.

December 14, 2015

Retail Texas

M&M Arranges Sale of 22,147 SF Retail Property in Metro Houston

by Haisten Willis December 14, 2015

KINGWOOD, TEXAS — Marcus & Millichap has arranged the sale of The Commons at Kings Crossing, a 22,147-square-foot retail property located in Kingwood. Gus Lagos and Nik Kapetanakis of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Kapetanakis and Lagos also secured the buyer, another limited liability company. The Commons at Kings Crossing is located on West Lake Houston Parkway.

December 14, 2015

Office Texas

NAI Partners Negotiates Sale of 7207 Regency Square Office Building in Houston

by Haisten Willis December 14, 2015

HOUSTON — NAI Partners has negotiated the sale of the 7207 Regency Square office building. The 52,000-square-foot, multi-tenant office property is 10 percent occupied. Doug Pack of NAI Partners facilitated the negotiation between the seller, Malladi Partners, and the buyer, the Ardenwood Group.

December 14, 2015

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