Texas

Third Palm Capital to Debut Republic Square in Houston

by Haisten Willis July 19, 2016

HOUSTON — A year after first announcing long-term plans for the redevelopment of the former ExxonMobil Chemical headquarters campus in Houston, Third Palm Capital is repurposing existing buildings on the 35-acre energy corridor site. The planned mixed-use district is located at 13501 Katy Freeway and is being renamed Republic Square. Houston-based Boxer Property has been awarded the leasing and management assignment. Preparations are underway to open Republic Square’s grounds with a central lake. Existing amenities include The Event Center at Republic Square, a 20,000-square-foot event and conference facility, plus Republic Square I, a three-story, 320,000-square-foot office building. Improvements include increasing visibility and accessibility off I-10 and Memorial Drive, adding a surface parking lot along Memorial and landscaping.

July 19, 2016

Healthcare Texas

CBRE Brokers Sale of Medical Facility in Oklahoma City

by Haisten Willis July 19, 2016

OKLAHOMA CITY — CBRE’s U.S. Healthcare capital markets group has brokered the sale of a 62,857-square-foot medical facility in Oklahoma City fully leased to Lakeside Women’s Hospital. Tampa-based Carter Validus Properties II LLC purchased the asset from Physicians of Northwest Oklahoma Investment Group LLC for an undisclosed price. Jason Little of CBRE’s Oklahoma City office teamed with Chris Bodnar and Lee Asher of CBRE’s U.S. Healthcare capital markets group to market the asset on behalf of the seller. Situated on five acres, the inpatient medical facility is located at 11200 N. Portland Ave.

July 19, 2016

Loans Multifamily Texas

George Smith Partners Secures $10.6M Acquisition Loan for Multifamily Property in El Paso

by Haisten Willis July 19, 2016

EL PASO, TEXAS — Commercial real estate investment banking firm George Smith Partners has arranged a $10.6 million loan for the acquisition of The Preserve at Mesa Hills, a 100 percent occupied, 248-unit apartment community in El Paso. David Rifkind and Ameet Chagan of George Smith Partners arranged the interest-only loan through a CMBS lender on behalf of the borrower, a private investor, . Located in El Paso’s northwest submarket, The Preserve at Mesa Hills comprises nine two-story and five three-story buildings offering one- and two-bedroom apartments. Units feature mountain and valley views, private patios or balconies and GE appliances, while select units also feature vaulted ceilings and wood-burning fireplaces. Common area amenities in the gated community include landscaped courtyards, a pool with spa and sundeck, fitness center, basketball and volleyball courts, as well as barbecue grills and picnic areas for residents.

July 19, 2016

Industrial Texas

Vigavi West Ten Breaks Ground on 22,500 SF Spec Industrial Building in Metro Houston

by Haisten Willis July 19, 2016

KATY, TEXAS — Vigavi West Ten has broken ground on a 22,500-square-foot speculative industrial building at West Ten Industrial Park in Katy, a suburb of Houston. The industrial park offers land sites for sale or build-to-suit opportunities, as well as industrial buildings for sale or lease. At completion, West Ten Industrial Park can accommodate 350,000 square feet on 35 acres. In 2015, Parkside Capital partnered with Vigavi Realty to purchase the land within West Ten Business Park for the new facility. Located at 633 Choctaw Lane, the first building underway at West Ten Industrial Park is scheduled to deliver in November 2016. John Simons and Holden Rushing of NAI Partners are marketing the park.

July 19, 2016

Industrial Texas

Lee & Associates Arranges 56,132 SF Industrial Sale in Metro Dallas

by Haisten Willis July 19, 2016

CARROLLTON, TEXAS — Lee & Associates has arranged the sale of a 56,132-square-foot industrial building located at 1540 Champion Drive in Carrollton. Nathan Denton of Lee & Associates’ Dallas/Fort Worth office represented the seller, StoneDome Real Estate LLC. Ryan Boozer of Stream Realty Partners represented the buyer, Terrastone LLC.

July 19, 2016

Multifamily Texas

Carroll Organization Sells Multifamily Property in Houston

by Haisten Willis July 18, 2016

HOUSTON — Carroll Organization has secured the sale of an apartment community known as ARIUM Fall Creek in Houston. Carroll’s investment vehicle Carroll Co-Invest Fund I previously owned the property. Carroll originally purchased the 264-unit property in February 2012. ARIUM Fall Creek is located 14 miles north of downtown Houston and is situated along the Sam Houston Tollway. The buyer was unnamed.

July 18, 2016

Hospitality Texas

M&M Arranges Sale of 110-Room Hotel

by Haisten Willis July 18, 2016

CORSICANA, TEXAS — Marcus & Millichap has arranged the sale of Motel 6 Corsicana, a 110-room hotel located in Corsicana. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap marketed the property on behalf of the seller, an individual/personal trust. Cooper, Gomes and Miller also procured the buyer, a local private investor. Motel 6 Corsicana is located at 2018 S. Highway 287 off of I-45. The two-story hotel was built in 1986 as a Days Inn and converted to a Motel 6 in 2006. Amenities at the property include an updated lobby and an indoor swimming pool.

July 18, 2016

Office Texas

JLL Negotiates 50,208 SF Office Lease in Houston

by Haisten Willis July 18, 2016

HOUSTON — JLL has negotiated the extension and expansion of a 50,208-square-foot office lease at One Briarlake Plaza located at 2000 W. Sam Houston Parkway in Houston. Lubrizol signed a lease comprising the entire third and fourth floors of the 20-story building. The Wickliffe, Ohio-based chemical company, originally leased 38,133 square feet in the Class A office building. Ryan Barbles of JLL negotiated the terms on behalf of the tenant. John Pruitt and Jessica Ochoa, also with JLL, represented the landlord, TIER REIT Inc. One Briarlake Plaza is a LEED Gold certified office building located in the Westchase submarket, approximately 20 miles from Houston’s Central Business District. Built in 2000, the building’s amenities include a conferencing facility, fitness center and dining services.

July 18, 2016

Loans Multifamily Texas

Greysteel Arranges Refinancing of Multifamily Property in El Paso

by Haisten Willis July 18, 2016

EL PASO, TEXAS — Greysteel has arranged agency financing for the refinance of the Amigos Del Sol, a multifamily property located in El Paso. The seven-year, non-recourse loan was provided by an agency lender under the Freddie Mac small balance loan program. Greysteel’s Anton Mattli and John Marshall Doss negotiated the transaction. Amigos Del Sol, located at 10009 Rushing Road, was constructed in 1973 and totals 52 units.

July 18, 2016

Industrial Texas

Lee & Associates Negotiates 126,882 SF Industrial Lease Renewal in Carrollton

by Haisten Willis July 18, 2016

CARROLLTON, TEXAS — Lee & Associates has completed a lease renewal for a 126,882-square-foot industrial space located at 1440 Lemay Drive in Carrollton. Nathan Denton and Adam Graham of Lee & Associates represented the landlord, Evergreen Industrial Properties. Greg Nelson and Conrad Madsen with Paladin Partners represented the tenant, Hilex Poly Co.

July 18, 2016

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