Texas

Davis Commercial Arranges Sale of Historic Theater in Dallas

by Haisten Willis October 23, 2015

DALLAS — Ashley Casterlin of Davis Commercial Real Estate represented Edwin Cabaniss, owner of the Kessler Theater in Dallas, in the purchase of the historic Heights Theater at 339 W. 19th St. in Dallas. Star Massing of Boulevard Realty represented the sellers, Sharon and Gus Kopriva. Cabaniss aims to transform the theater, which was recently granted landmark status, into a go-to venue for cultural arts events. With a mid-2016 opening planned, the theater will host events such as concerts, weddings and art openings.

October 23, 2015

Mason Joseph Co. Secures $11.2M Construction, Financing Loan in Metro San Antonio

by Haisten Willis October 23, 2015

SEGUIN, TEXAS — Mason Joseph Co., a San Antonio-based FHA multifamily lender, has secured the closing of an $11.2 million loan for the construction and permanent financing of Walnut Grove Apartments, a proposed 116-unit market-rate apartment community in Seguin. The financing was secured through HUD’s 221(d)(4) loan insurance program. Using the program enabled the borrower to secure a fixed interest rate for the initial 14-month construction period and a subsequent 40-year term. Walnut Grove is being built on a vacant site near the Guadalupe Regional Medical Center and Seguin High School. The property will also be located near manufacturing plants including Caterpillar, Continental Motor Systems, Texas Power Systems, Tyson Foods and CMC Steel Texas. The apartment will offer 116 units across six three-story apartment buildings. MacDonald Cos. of Kerrville is developing the project. GG MacDonald Inc. will serve as the general contractor.

October 23, 2015

Retail Texas

Venture Arranges Lease on Behalf of Northern Tool + Equipment in Metro San Antonio

by Haisten Willis October 23, 2015

LIVE OAK, TEXAS — Venture Commercial has completed a lease on behalf of Northern Tool + Equipment in Live Oak in The Village at Forum Parkway shopping center. Clay Mote of Venture Commercial negotiated the deal on behalf of the tenant. David Nicolson of The Weitzman Group represented the landlord. The Village at Forum Parkway is located at 14619 I-35 North. Northern Tool opened its first store in 1981. Major segments that Northern Tool services include automotive, agriculture and construction. The hardware retailer also sells tools for woodworking, hunting, fishing and home improvement.

October 23, 2015

Industrial Texas

M&M Arranges Sale of 69,002 SF Industrial Building in Houston

by Haisten Willis October 23, 2015

HOUSTON — Marcus & Millichap has arranged the sale of West Hardy Business Park, a 69,002-square-foot industrial property located in Houston. Thomas Costello of Marcus & Millichap’s The Woodlands office marketed the property on behalf of the seller, a partnership. Costello also secured the buyer, a limited liability company. West Hardy Business Park is located at 15955 W. Hardy Road.

October 23, 2015

Retail Texas

Construction Begins on the First Public-Private Partnership CNG Fueling Station in Metro Houston

by Haisten Willis October 23, 2015

LAKE JACKSON, TEXAS — CNG Energy Partners has signed a 10-year contract with the city of Lake Jackson to build, operate and maintain a public access compressed natural gas (CNG) fueling station located at 204 Medical Drive. The truck-friendly CNG fueling facility is designed to support the increasing desire to embrace environmental technologies and reduce pollution levels. It will be the first public-private partnership CNG fueling station in the Houston area. Deployment of the CNG fueling station was made possible through the implementation of a public-private partnership business model. The project is expected to be complete in December.

October 23, 2015

$4.4-million-dollar-Refinance-loan-Brandon-LMI-Capital-Houston

Loans Multifamily Texas

LMI Capital Arranges $4.4M Refinancing Loan for Apartment Property in Houston

by Haisten Willis October 22, 2015

HOUSTON — Brandon Brown of LMI Capital has arranged $4.4 million in debt for the refinancing of a garden-style apartment complex in the Inner Loop East submarket of Houston. Brown worked on behalf of the borrower to obtain a seven-year, fixed-rate loan featuring two years of interest-only payments and a flexible prepayment structure. The borrower plans to use the excess loan proceeds to fund future development projects.

October 22, 2015

Industrial Texas

Sherwin-Williams to Construct 600,000 SF Distribution Center in Waco

by Haisten Willis October 22, 2015

WACO, TEXAS — The Sherwin-Williams Cos. plans to expand its Waco presence with the construction of a 600,000-square-foot distribution facility in the Waco International Aviation Park. Sherwin-Williams will invest $39 million, including a 49-acre land acquisition, personal and real property. The facility will retain 264 full-time positions and is expandable to at least 800,000 square feet. The company currently occupies 440,000 square feet in Texas Central Park, also located in Waco. Sherwin-Williams established its first Waco distribution facility in 1989.

October 22, 2015

Office Texas

CBRE Arranges Relocation of Vantage College’s South San Antonio Campus

by Haisten Willis October 22, 2015

SAN ANTONIO — CBRE has arranged the relocation of Vantage College’s South San Antonio campus to a 9,000-square-foot building at 1964 Southwest Military Drive. Recently rebranded from Excel Learning Center, Vantage College provides training in occupation fields such as healthcare, information technology and business, along with job placement assistance. The south campus will move from the Harlandale Building to a new location in November. Vantage College doubled the size of its Northwest campus at the end of 2013 in the Cherry Ridge Office Park. The Council on Occupational Education (COE) accredits Vantage College. Carl Salvato with CBRE’s San Antonio office represented Vantage in site selection and lease negotiations.

October 22, 2015

Retail Texas

M&M Arranges Sale of 9,014 SF Net Leased Dollar General in Metro Dallas

by Haisten Willis October 22, 2015

AUBREY, TEXAS — Marcus & Millichap has arranged the sale of a 9,014-square-foot Dollar General in Aubrey. Blake Burnett of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, an out-of-state individual/personal trust. Burnett also procured the buyer, a local limited liability company. Dollar General is located at 990 S. U.S. Highway 377, four miles north of U.S. Highway 380. Constructed in 2004, the asset is situated on one acre. At the time of listing, Dollar General was operating under a new 10-year net lease.

October 22, 2015

Hospitality Texas

Acquire Completes Funding for DoubleTree by Hilton DFW Airport

by Haisten Willis October 21, 2015

DALLAS — Acquire Real Estate, a real estate crowd investing platform, has closed its investing fund for the DoubleTree by Hilton DFW Airport, a 282-room, eight-story hotel located adjacent to Dallas-Fort Worth Airport. The project attracted investors from across the country that contributed between $5,000 and $75,000. Acquire Real Estate provided $262,500 in funding for the hotel. Investors are projected to receive average annual returns above 20 percent paid quarterly over a seven- to 10-year term. The property is located less than two miles from Dallas/Fort Worth International Airport. Hotel amenities include 17,000 square feet of function space, a full-service business center and airport shuttle services. The Buccini/Pollin Group purchased the property in January 2015 for an undisclosed amount.

October 21, 2015

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