Texas

Venture Completes Sale of Net Leased Property in Metro Dallas

by Haisten Willis January 27, 2016

THE COLONY, TEXAS — Venture Commercial Real Estate’s investment sales team has completed the sale of a 7,400-square-foot single-tenant net-leased property located along State Highway 121 in The Colony. Methodist Urgent Care occupies the building located at 5151 SH 121, in front of Top Golf and across from Nebraska Furniture Mart’s Grandscape development. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture represented the developer, NDC Holdings. Leonard Mazzone of New York-based Hamilton Mundy Real Estate Advisors represented the buyer, an out-of-state investor.

January 27, 2016

Hospitality Mixed-Use Multifamily Retail Texas

The Kor Group Acquires Land for Austin Proper Hotel and Residences

by Haisten Willis January 26, 2016

AUSTIN, TEXAS — The Kor Group has purchased land for the future home of Austin Proper Hotel and Residences. The development will be a 32-story mixed-use building containing 99 for-sale residences, 244 hotel guest rooms, four food and beverage outlets, 11,500 square feet of meeting space, a spa, fitness center and two outdoor swimming pools. Construction is scheduled to begin in spring 2016 and end in early 2018. In addition to the land acquisition, the Austin Proper Residences sales gallery, located nearby at 208 Colorado St., debuted on Jan. 21, 2016, with a grand opening celebration scheduled for Feb. 5 and 6. Will Steakley of DEN Property Group will manage sales for the Austin Proper Residences, which will begin taking contracts this month. Proper Hospitality will operate the Austin Proper Hotel as part of the Proper Hotels brand. Designer Kelly Wearstler is creating the interior design for the project, McGuire Moorman Hospitality is developing and operating the food and beverage concepts and Handel Architects is responsible for the design of the 32-story high-rise.

January 26, 2016

Hospitality Mixed-Use Multifamily Office Retail Texas

StreetLevel, Provident Realty Purchase Former Texas Instruments Campus for $500M Mixed-Use Development

by Haisten Willis January 26, 2016

STAFFORD, TEXAS — Dallas-based StreetLevel Investments and joint venture partner Provident Realty Advisors have purchased 192 acres in Stafford, including the former Texas Instruments (TI) campus. The firms plan to create a mixed-use development at the site that will feature 350,000 square feet of destination retail space, 2,400 residential units, Class A office space, two hotels, a health club, entertainment and green space in a walkable urban center. The finished product will include parking garages as well as street parking. Portions of the original TI buildings will be preserved and repurposed. Houston-based Gensler and TBG are project consultants. The first phase of the $500 million, multi-phase project is slated to open summer 2017.

January 26, 2016

Industrial Texas

Hunt Southwest to Build Spec Industrial Building in Fort Worth

by Haisten Willis January 26, 2016

FORT WORTH, TEXAS — Hunt Southwest Real Estate Development has acquired a 16.7-acre site in the Riverbend West Business Park in northeast Fort Worth and will develop a 301,500-square-foot spec warehouse and distribution facility at the site. Construction on Riverbend West Distribution Center, located at 2101 Reeves Place, will commence immediately with completion expected in the third quarter of 2016. The facility will feature 32-foot clear heights, cross-dock configuration, an ESFR sprinkler system and dedicated trailer parking positions. Holt Lunsford Commercial’s Donnie Rohde, Chance Olin and George Jennings will lease the industrial property to prospective tenants.

January 26, 2016

One-Panorama-Center-MultiView-Irving-Texas

Office Texas

MultiView Renews Headquarters Lease at One Panorama Center in Irving

by Haisten Willis January 26, 2016

IRVING, TEXAS — Transwestern has represented MultiView Inc. in a 109,610-square-foot lease renewal for the digital marketing company’s corporate headquarters at One Panorama Center, located at 7701 Las Colinas Ridge in Irving. Transwestern’s John Fulton represented MultiView in the transaction, while Duane Henley and Nathan Durham, also of Transwestern, represented the building owner, Regent Properties. One Panorama Center is an eight-story, Class A office tower. The property is 10 minutes from Dallas/Fort Worth International Airport and near MacArthur Boulevard. Regent acquired the property in October 2014 and has implemented interior and exterior improvements since the purchase.

January 26, 2016

Retail Texas

SOAP Hand Car Wash to Open in Houston

by Haisten Willis January 26, 2016

HOUSTON — SOAP Hand Car Wash has leased a 31,446-square-foot outparcel at Shoppes at Memorial Villages, located at I-10 and Wirt Road in Houston. SOAP Hand Car Wash is a local Houston business owned by J. Ryan Alcorn. SOAP uses as few as 10 gallons of water per wash, while the average tunnel car wash uses between 40 and 55 gallons, and washing a car at home can use 100 gallons or more. SOAP is scheduled to open this summer. The landlord, Weingarten Realty Investors, was self-represented by Brody Farris in the deal. Clay Graham of Fox & Graham Real Estate represented SOAP.

January 26, 2016

Industrial 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

Office Texas

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

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