Texas

Hangover Opportunity Fund Sells 110,651 SF Bowen Chase Bank Building in Arlington

by Haisten Willis July 27, 2016

ARLINGTON, TEXAS — Hangover Opportunity Fund has sold the 110,651-square-foot Bowen Chase Bank building to a local investment group. Located at 1301 S. Bowen Road in Arlington, the Class B office building is situated on nearly seven acres. The fund has invested nearly $1.2 million into the property since its acquisition in January 2014, the bulk of which was spent on installing a new HVAC system and new lighting. Coldwell Banker Commercial Alliance DFW manages and leases the 34-year-old building, which was 94.4 percent occupied at the time of sale. Creighton Stark of Colliers International, along with Gary Walker of Coldwell Banker Commercial Alliance DFW, represented the seller in the transaction. The largest tenant is the state of Texas, which houses a handful of agencies in 48,206 square feet on several floors of the four-story building. Keller Williams, the second-largest tenant, occupies 16,375 square feet. A full-service Chase Bank and ATM area serve as the lobby centerpiece. Matt Carthey of Holt Lunsford Commercial represented the buyer, Arlington-based Duncan Holdings. Start to finish, the transaction closed within 45 days.

July 27, 2016

Trammell Crow Begins Construction on Children’s Hospital of San Antonio Health Pavilion

by Haisten Willis July 27, 2016

SAN ANTONIO — Trammell Crow Co. has begun construction on The Children’s Hospital of San Antonio Health Pavilion – Stone Oak. The three-story, 60,000-square-foot medical office building will be located at 1434 E. Sonterra Blvd. in San Antonio. Owned by Seavest, the project is scheduled for completion in summer 2017. The Health Pavilion – Stone Oak will be home to a variety of pediatric services and family practice groups, and will provide office space for Baylor College of Medicine physicians. The first floor of the building will be home to The Children’s Hospital’s’ third pediatric emergency room, called The Children’s Hospital of San Antonio Emergency Center – Stone Oak. Paul Barker with Endura Advisory Group in San Antonio has been appointed the leasing agent for the building. Trammell Crow’s Clayton Baca and Mark Fowler lead the development management of the project. Mark Siebert and Cristina Hernandez of MKS Associates designed the building. The engineering team comprises David Martinez of Pape Dawson, Roger Mendez of RGM Engineering, Steve Bourassa of Alpha Consulting Engineers and Jason Lochte of Cooper-Lochte Landscape Architecture.

July 27, 2016

Multifamily Texas

M&M Negotiates Sale of 105-Unit Multifamily Property in Richardson

by Haisten Willis July 27, 2016

RICHARDSON, TEXAS — Marcus & Millichap has negotiated the sale of Lakefront Villas, a 105-unit apartment property located in Richardson. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Silva and Braly also secured the buyer, a local partnership. The Dallas-based buyer utilized a 1031 tax-deferred exchange. Lakefront Villas is located at 900 W. Spring Valley Road.

July 27, 2016

Office Texas

JLL Arranges Medical Office Lease in Dallas

by Haisten Willis July 27, 2016

DALLAS — An unnamed major health system has leased 35,842 square feet in the street-level retail portion of the Colonial Reserve at Medical District multifamily complex. The property is located at 2222 Medical District Drive in Dallas. JLL’s Rob Franks and Cole Burdette represented the tenant. Younger Partners’ Heather Shover and Trae Anderson represented the landlord, Greenway Investment Co.

July 27, 2016

Office Texas

Presidium Group to Expand, Relocate to Citymark in Dallas

by Haisten Willis July 26, 2016

DALLAS — Presidium Group LLC plans to expand and relocate its Uptown Dallas headquarters to Citymark on the Katy Trail. Bradford Commercial Real Estate Services arranged the lease. Presidium is moving Aug. 1 into a 7,912-square-foot space at 3100 McKinnon St., nearly doubling its size. The office tower’s second floor has been reconfigured into a multi-tenant space to accommodate the move. The transaction required subleasing Presidium’s existing headquarters at 2525 McKinnon St., which is being backfilled by telecommunications firm Zinwave Ltd. Ryan Hoopes of Colliers International was Zinwave’s broker for its sublease. Citymark spans 218,926 square feet and is 93 percent occupied.

July 26, 2016

Office Texas

Clarion Partners Acquires One Victory Park in Dallas

by Haisten Willis July 26, 2016

DALLAS — Clarion Partners has acquired One Victory Park, a 17-story, 436,253-square-foot office building located in the Uptown submarket of Dallas. Clarion purchased the asset on behalf of a commingled fund that the firm advises. One Victory Park is 95.2 percent leased to tenants in the finance, legal, real estate and professional service industries. The building, constructed in 2008, has been awarded LEED Silver status and is Energy Star-certified. Amenities include a fitness center, conference center, 24/7 security and a six-story structured parking garage. One Victory Park is located two blocks from the Victory light rail station, which services DART light rail and Trinity Railway Express.

July 26, 2016

Office Texas

Claudia Crow Named Director of Marketing & Brand Strategy at TCN Worldwide

by Haisten Willis July 26, 2016

DALLAS — Claudia Crow has been named director of marketing and brand strategy for TCN Worldwide’s international real estate services organization. Crow brings nearly two decades of commercial real estate and marketing experience to her position, including 14 years with TCN Worldwide in the roles of marketing and public relations from 2000 through 2014. She was most recently the managing director of commercial services for a real estate brokerage firm in Dallas. Crow has an MBA from the University of North Texas.

July 26, 2016

Loans Multifamily Texas

LMI Capital Secures Two Loans Totaling $30M in Houston

by Haisten Willis July 26, 2016

HOUSTON — Jamie Mullin of LMI Capital has placed permanent financing for the acquisition and refinancing of two garden-style apartment complexes in Houston. Mullin placed a 10-year loan exceeding $24.5 million for a 650-unit asset in southwest Houston. The agency loan was a refinance that provided cash-out proceeds to the borrower and featured a fixed 4.1 percent interest rate and five years of interest-only payments. The borrower will use the excess proceeds to return capital, make ongoing improvements to the property and fund future acquisitions. The second transaction for Mullin pertained to a 250-unit property in Houston’s Brookhollow submarket. The acquisition financing included a 10-year term, five-year interest-only period, fixed 3.9 percent interest rate and leverage exceeding 73 percent of the purchase price. The borrower plans to complete a capital improvement plan, the funds for which will be provided by the lender.

July 26, 2016

Multifamily Texas

Allied Orion Group to Manage Tree Tops at Post Oak in Houston

by Haisten Willis July 26, 2016

HOUSTON — Allied Orion Group has been selected to manage Tree Tops at Post Oak, a 112-unit apartment community located in Houston’s Galleria area. Located inside the 610 Loop at 4510 Briar Hollow Place, the three-story apartment community includes 13 floor plans with one- and two-bedroom options. Owned by Nimes Capital, Tree Tops at Post Oak Apartments features ceramic tile floors, ceiling fans, nine- and 10-foot ceilings, crown molding, walk-in closets and balconies/patios. Residents have access to amenities including a business center with high-speed internet, 24-hour fitness center, pool, outdoor gas grills, covered parking and laundry centers on every floor.

July 26, 2016

Hospitality Texas

Tabani Realty Arranges Sale of Best Western Hotel in Dallas

by Haisten Willis July 25, 2016

DALLAS — Salman Tabani of Tabani Realty has arranged the sale of the Best Western Plus Hotel and Conference Center in Dallas. The newly renovated, 160-room hotel is located at the intersection of Highway 635 and Highway 75. The property was sold to an out-of-state private investor. Tabani Realty is a commercial brokerage firm based in Addison, Texas that specializes in hospitality, retail, land, multifamily, office and investment property sales.

July 25, 2016

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