Texas

M&M Arranges Sale of 92,956 SF Retail Property in Midland

by Haisten Willis September 24, 2015

MIDLAND, TEXAS — Marcus & Millichap has arranged the sale of Town and Country Shopping Center, a 92,956-square-foot retail property located in Midland. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. Levy also secured the buyer, a private investor. Town and Country Shopping Center is located on a 9.3-acre site at 1000 N. Midkiff Road. The property is 88 percent occupied and all leases are triple net. Furr’s Cafeteria, Dollar Tree and Planet Fitness anchor the center. Major retailers in the immediate area include Subway, Sonic, McDonald’s, Hastings, Payless ShoeSource, Dollar General, Gold’s Gym, Lack’s Furniture, Comet Cleaners, Allstate Insurance, Quiznos and Advance Auto Parts.

September 24, 2015

Public Storage Opens New 1,000-Unit Facility in Frisco

by Haisten Willis September 23, 2015

FRISCO, TEXAS — Public Storage has opened its newest facility in Frisco, a suburb north of Dallas. Public Storage is opening more than 1,000 self-storage spaces on five acres in what is its first location in Frisco. Public Storage is located at 8433 Legacy Drive and will serve the community with climate-controlled self-storage units. Additional drive-up and more budget-friendly units without climate control are also available. The facility is located just off the Dallas North Tollway. The new self-storage facility has a brick exterior and the property manager will live at the location.

September 23, 2015

Multifamily Texas

Cortland Partners Enters Austin Market with Acquisition of City View Apartments

by Haisten Willis September 23, 2015

AUSTIN, TEXAS — Cortland Partners has entered the Austin market with the acquisition of City View Apartments, a 308-unit apartment complex near downtown Austin. Atlanta-based Cortland Partners has been seeking the opportunity to expand its Texas portfolio into Austin, and the company has regional offices in both Dallas and Houston. City View Apartments is located in Austin’s Southeast submarket at 4900 E. Oltorf Drive. Cortland Partners plans to renovate City View.

September 23, 2015

Loans Multifamily Texas

ARA Newmark Completes Acquisition Financing for Apartment Complex in Houston

by Haisten Willis September 23, 2015

HOUSTON — Holly Minter, David Schwarz and Tip Strickland of ARA Newmark have closed a seven-year CMBS loan with a fixed interest rate and full-term interest-only payments on behalf of Momentum Real Estate Partners for the acquisition of Provenza at Barker Cypress Apartments in Houston. The Class A, 318-unit multifamily community was built in 2014 and offers one-, two- and three-bedroom apartment units.

September 23, 2015

Multifamily Oklahoma Student Housing Texas

Greystar Student Living to Manage Progress405 in Stillwater

by Haisten Willis September 23, 2015

STILLWATER, OKLA. — Progress Builders has selected Greystar Student Living to manage Progress405, a new apartment development in Stillwater. The 544-bed student housing community will be located at 1520 N. Boomer Road at the cross streets of Boomer Road and Bennett Drive. The new development is within walking distance of the Oklahoma State University campus and Boone Pickens Stadium. Progress405 will include one-, two- and four-bedroom apartment homes ranging in size from 548 to 1,640 square feet. Units will be fully furnished and will feature private bedrooms and bathrooms. Interior finishes will include quartz countertops, stainless steel appliances and wood-style plank flooring. The project’s community amenities will include a clubhouse with a lobby fireplace, study areas with Wi-Fi, a fitness center with locker rooms and showers, tanning beds, an entertainment lounge with billiards tables, sand volleyball court, a zero-entry swimming pool and a sun deck with cabanas and grilling stations. The pet-friendly community is close to Stillwagon Dog Park and Boomer Lake. Construction is expected to be completed by fall 2016.

September 23, 2015

Office Texas

IronEdge Group Signs Office Lease for 13,008 SF in Houston

by Haisten Willis September 23, 2015

HOUSTON — IronEdge Group, a Houston-based technology consulting firm and IT services provider, has signed a lease for 13,008 square feet of office space. The new office, which is located at 3000 Wilcrest Drive in Houston, will be the firm’s new corporate headquarters. Rob Johnson of Lee & Associates-Houston represented IronEdge Group in the lease transaction. Randi Carrabba of Client 1st represented the landlord, Jeffrey Westchase LLC.

September 23, 2015

Retail Texas

Baker Katz Purchases Four-Acre Tract in Houston for Indoor Climbing Facility

by Haisten Willis September 22, 2015

HOUSTON — Houston-based Baker Katz has completed a four-acre land acquisition on behalf of Momentum Indoor Climbing. This will be Momentum Indoor Climbing’s first Houston location. The property is located at the intersection of Kingsland Boulevard and Katy Mills Parkway. The 36,000-square-foot facility will feature a rock climbing surface with 50-foot climbing walls, as well as fitness and yoga areas. Ben Brown of Baker Katz represented Momentum Indoor Climbing in the transaction. Simpkins Group’s William Stacy represented the seller. The opening is slated for summer 2016.

September 22, 2015

Multifamily Texas

M&M Arranges Sale of 253-Unit Apartment Building in Amarillo

by Haisten Willis September 22, 2015

AMARILLO, TEXAS — Marcus & Millichap has arranged the sale of Lakeview North & South Apartments, a 253-unit apartment property located in Amarillo. John Barker and Mark Allen of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. Barker and Allen also secured the buyer, another limited liability company. Lakeview North & South Apartments is located at 1600 Dale St. The complex consists of one- and two- bedroom units with an average size of 715 square feet. The property has 42 buildings total.

September 22, 2015

Mixed-Use Retail Texas

Realty Capital Sells Mixed-Use Building in Metro Dallas

by Haisten Willis September 22, 2015

COLLEYVILLE, TEXAS — Irving-based Realty Capital Management LLC has sold a 12,000-square-foot mixed-use building located at 16 Village Lane in Colleyville to SC 16 Village Lane Investment LLC. The building is part of a larger 26-acre mixed-use development known as The Village at Colleyville, which was developed by Realty Capital in 2002. The mixed-use building was fully leased to four retail tenants on the first floor and one office tenant on the second floor. The ground floor tenants include Posh Hair Studio, The Lash Lounge, The Lodge Barbershop and Posh Body. The sole second floor tenant is Ztar Mobile. Realty Capital had owned the building since 2004 when the property was originally delivered. Russ Webb and LeAnn Brown with Silver Oak Commercial Realty represented the seller in the transaction. Holt Lunsford and Matt Carthey with Holt Lunsford Commercial represented the buyer. The Village at Colleyville is located at Main Street and Highway 26 (Colleyville Boulevard).

September 22, 2015

Loans Multifamily Seniors Housing Texas

RED Capital Group Closes $17.2M Loan for Prevarian Senior Living

by Haisten Willis September 22, 2015

BROKEN ARROW, OKLA. — RED Capital Partners, the proprietary debt and equity banking arm of RED Capital Group, has closed a $17.2 million balance sheet construction loan for Prevarian Senior Living to build Prairie House Assisted Living and Memory Care, located on the campus of St. John Medical Center Hospital in Broken Arrow. Prairie House will be a 93,000-square-foot, two-story seniors housing community and will accommodate more than 100 senior citizens. The facility will include 73 alcove, one- and two-bedroom floor plans for assisted living. There will also be 32 suites designed for memory care residents. Construction began Sept. 9 and the project is expected to open in November 2016. The 105-unit, 117-bed assisted living and memory care property will operate under a long-term ground lease from an affiliate of St. John Medical Center Hospital. LifeCare Services, based in Des Moines, Iowa, will operate the property.

September 22, 2015

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