Texas

KBS Signs 39,334 SF Lease at Parkwood Place in Plano

by Haisten Willis February 23, 2016

PLANO, TEXAS — KBS Realty Advisors has signed a 39,334-square-foot lease with Highland Homes at Parkwood Place, a Class A, LEED-certified office property in Plano. The company renewed its 34,266-square-foot lease and expanded to an additional 5,068 square feet. Built in 2006, Parkwood Place is located in Plano’s Legacy submarket. The property spans 98,750 square feet and includes a tenant lounge and conference facility. Blake Shipley and Jeff Eckert of JLL represented KBS Realty Advisors in the transaction, while Scott Hobbs of CBRE represented Highland Homes.

February 23, 2016

Venture Arranges Sale of Lakewood Square in Metro Dallas

by Haisten Willis February 23, 2016

DENTON, TEXAS — Venture Commercial Real Estate’s investment sales team has completed the sale of Lakewood Square, a 14,919-square-foot retail center located on the northeast corner of Teasley Lane and Robinson Road in Denton. Lakewood Square’s tenants include Subway, Vanilla Family Dentistry and Napoli’s Italian Restaurant. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture Commercial represented the seller, Lakewood Partners. Michelle Hudson of Hudson Peters Commercial represented the buyer, a private investor.

February 23, 2016

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Restaurant Retail Texas

Chuy’s to Open New Location in San Marcos

by Haisten Willis February 22, 2016

SAN MARCOS, TEXAS — Austin-based Tex-Mex chain Chuy’s has signed a lease to open a restaurant in San Marcos. Chuy’s will open in the Springtown Shopping Center, which is receiving a $27.4 million overhaul by Austin-based Endeavor Real Estate Group. The center is located at 205 W. Hopkins St. along I-35. Chuy’s will occupy 6,500 square feet along with and an outdoor patio. Construction will begin in March, with the restaurant opening sometime this summer. Founded in Austin in 1982, Chuy’s owns and operates 69 full-service restaurants across 14 states. Since 2010, San Marcos’s population has increased by 30 percent

February 22, 2016

Industrial Texas

Revere Capital Completes $13.5M Financing of Two Planned Self Storage Facilities

by Haisten Willis February 22, 2016

HOUSTON AND GARLAND, TEXAS — Dallas-based Revere Capital has funded a $13.5 million loan secured by a first lien for a vacant 223,000-square-foot Walmart in Garland, and a 200,000-square-foot shopping center anchored by a vacant former grocery store in Houston. The borrower plans to develop 100 percent of the vacant former Walmart space into rentable self-storage space coupled with a sports entertainment tenant. Half of the Houston property is leased to a Chuck-E-Cheese, a go-cart racing facility operator and other retailers. The borrower plans to convert 100,000 square feet of vacant shopping center space into self-storage space. Loan proceeds were used to repay existing first mortgages on each of the two properties, along with tenant improvements for executed leases for the inline retail space at the Houston property. The Houston property is in the Northgate neighborhood 18 miles north of downtown. In addition to the primary collateral, the loan is secured by a pledge of 90 percent of the ownership interests in a stabilized five-property portfolio of self-storage facilities owned by the borrower. The loan is also secured by a second lien on a vacant 170,000-square-foot K-Mart in Corsicana, and a personal guaranty of the sponsor.

February 22, 2016

Industrial Office Texas

NAI Partners Arranges Acquisition of 10,000 SF Office/Warehouse Space in Houston

by Haisten Willis February 22, 2016

HOUSTON — NAI Partners has represented Tipton Co. in the acquisition of a 10,000-square-foot office/warehouse space on 1.9 acres located at 3565 S. Loop 336 E. in Conroe. Ty Tipton is CEO and president of Tipton Co., a third-generation, family-owned plumbing supply company. His grandfather, Zeke Tipton, founded the company in 1935. Zeke Tipton was a captain in World War II serving in Germany. After returning from Germany in 1946, he and his wife, Cecile, put all their efforts toward building Tipton Co.

February 22, 2016

Industrial Texas

Bellomy & Co. Brokers Sale of My Attic Self Storage in Metro Houston

by Haisten Willis February 22, 2016

TOMBALL, TEXAS — Bellomy & Co. has arranged the sale of My Attic Self Storage in Tomball. The Class A facility consists of 626 climate and non-climate controlled units across 82,134 square feet. Bill Bellomy, Michael Johnson and John Arnold marketed the property on behalf of the Houston-based seller, Milestone Properties. Bellomy, Johnson and Arnold procured the buyer, Dahn American360, based in Irvine, Calif. A division of Dahn Corp., the company and its affiliates have acquired, developed or sponsored more than 6.5 million square feet of storage under the Mini U Storage brand name. My Attic will be rebranded as Mini U Storage Tomball. Bellomy & Co. is an Austin, Houston and Atlanta-based commercial real estate firm with a team exclusively focused on the self-storage industry.

February 22, 2016

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Retail Texas

M&M Arranges Sale of 48,229 SF Retail Property in Metro Houston

by Haisten Willis February 22, 2016

LA PORTE, TEXAS — Marcus & Millichap has arranged the sale of Fairporte Green Shopping Center, a 48,229-square-foot retail property located in La Porte. Jerry Goldstein of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a partnership in Washington D.C. It was sold to a 1031 exchange buyer from Southern California who assumed an existing CMBS loan. The property is 80 percent occupied and features national medical tenants including U.S. HealthWorks and Fresenius as well as a freestanding Burger King. Its physical address is located at 1309 Fairmont Parkway in La Porte.

February 22, 2016

HBSB2-university-of-houston-health-biomedical-sciences-building

Office Texas

$145M Health and Biomedical Sciences Building to Be Constructed at University of Houston

by Haisten Willis February 19, 2016

HOUSTON — The University of Houston (UH) is getting a second Health and Biomedical Sciences Building (HBSB2). The nine-story, 300,000-square-foot facility will be the next phase of the development of UH’s biomedical district. With a project budget of $145 million, HBSB2 will be home to specialized research and teaching labs, faculty and staff offices, an expanded health sciences library and a mix of teaching spaces, including auditoriums and smaller learning spaces for group and individual study. While construction is already underway, a ceremonial groundbreaking will take place at 10 a.m. on Feb. 29. HBSB2 will be the new home of the UH College of Pharmacy and will consolidate faculty and students currently housed in the Texas Medical Center and Science and Research 2 buildings. The consolidation will help integrate teaching, research and clinical programs. Shepley Bulfinch, the architectural firm that completed HBSB1 in 2013, is the architect of HBSB2.

February 19, 2016

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Retail Texas

WinCo Foods to Open Anchor Store at Trinity Valley Shopping Center in Metro Dallas

by Haisten Willis February 19, 2016

CARROLLTON, TEXAS — WinCo Foods plans to develop an 82,077-square-foot anchor store at Trinity Valley Shopping Center located at the northeast corner of the President George Bush Turnpike and Josey Lane in Carrollton. The new WinCo will be developed at the site of a former Target, which closed in January 2015. Josey Trinity Mills Ltd. acquired the building in October. The site will be demolished in April, and the new WinCo is scheduled to open in early 2017. The project’s leasing team, Matt Luedtke and Steve Gray with The Weitzman Group, along with Cencor Realty Services’ Randy Stebbins and Joe Lea, worked on behalf of the center’s ownership to negotiate the acquisition of the vacant Target and bring in WinCo for the new anchor store. DWC Commercial and Venture Commercial represented the grocer. Trinity Valley Shopping Center opened in the 1970s and remains a retail destination in the trade area. The center incorporates nearly 300,000 square feet of retail space leased to Ulta Beauty, Ross Dress for Less, rue21, Petco, Chili’s, Lane Bryant and Dress Barn. Stebbins will direct the development of the new anchor store on behalf of the center’s ownership. Cencor’s Kathy Detrick is managing the construction of …

February 19, 2016

Industrial Office Texas

JaRyCo Breaks Ground on 94,000 SF Tech Center in Metro Dallas

by Haisten Willis February 19, 2016

ALLEN, TEXAS — Development firm JaRyCo has begun construction on Tech Center One, Phase I of an office/warehouse complex at Greenville Avenue and Bethany Drive in Allen. Completion of the 38,000-square-foot office/warehouse hybrid building is expected in August. Two additional building phases are planned for a total of 94,000 square feet. A groundbreaking ceremony for the project is set for Feb. 25. at 2 p.m. This will be the 10th project in Allen for JaRyCo in the last 15 years. George Tanghongs and Brett Lewis of Lee & Associates’ Dallas/Fort Worth office are marketing the property.

February 19, 2016

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