Texas

Amazon to Open Fulfillment Center in Austin/San Antonio Corridor

by Katie Sloan September 10, 2015

SAN MARCOS, TEXAS — Amazon has acquired a 100-acre site on McCarty Lane in San Marcos to develop an 855,000-square-foot fulfillment center. This will be Amazon’s fifth fulfillment location in Texas. Kit Corbin of Endura Advisory Group represented the undisclosed seller, and Ed Cross of San Antonio Commercial Advisors represented the buyer in the transaction. The city of San Marcos and the Texas Department of Transportation will cooperate with the developer of the Amazon facility to provide road improvements. Atlanta-based Seefried Industrial Properties Inc. is overseeing the project, alongside Houston-based engineering firm Jones & Carter Inc., according to reports by the Austin Business Journal. The fulfillment center will be completed in early 2017 and is expected to create more than 1,000 permanent jobs when fully staffed.

September 10, 2015

Phillips Edison Grocery Center REIT II Acquires Plano Market Street

by Katie Sloan September 10, 2015

PLANO, TEXAS — Phillips Edison Grocery Center REIT II Inc. has acquired Plano Market Street, a 169,624-square-foot grocery-anchored shopping center located in Plano, for an undisclosed amount. Doug Hazelbaker and Ryan Shore of HFF represented the seller, Lionstone Investments, in the transaction. The center is 94.2 percent occupied by tenants including Market Street, Zoë’s Kitchen, World of Beer, Toni & Guy Academy, Café Izmir and Hyena’s Comedy Club. Plano Market Street is situated on 17.74-acres at 1901 to 1941 Preston Road.

September 10, 2015

Hospitality Texas

HFF Secures $14.4 Million Financing for Hilton Garden Inn El Paso/University

by Katie Sloan September 10, 2015

EL PASO, TEXAS — Holliday Fenoglio Fowler (HFF) has secured $14.4 million in first mortgage financing for Hilton Garden Inn El Paso/University, a 153-room, full-service hotel in El Paso. Jason Bond and Michael Cosby worked on behalf of the borrower, TVO Groupe, to place the 10-year, fixed-rate loan with Cantor Commercial Real Estate. Loan proceeds will be used to refinance existing debt and fund future property improvement plans. The hotel is located at 111 West University Ave. adjacent to the University of Texas at El Paso.

September 10, 2015

Office Texas

Henry S. Miller Cos. Arranges Industrial Office Lease in Carrollton

by Katie Sloan September 10, 2015

CARROLLTON, TEXAS — Henry S. Miller Cos. has arranged a 5,000-square-foot industrial office lease for WaterCentric at 4720 Dozier Road in Carrollton. Fred Dumlao of Henry S. Miller Cos. worked on behalf of the landlord, Larry Osterman, in the leasing negotiations. WaterCentric provides long-term water strategies, water rights permitting and alternative source implementation for clients.

September 10, 2015

Restaurant Retail Texas

Fogo de Chão to Open in Restaurant Row at Hughes Landing

by Katie Sloan September 10, 2015

THE WOODLANDS, TEXAS — Fogo de Chão, a Brazilian steakhouse, has signed a lease agreement to open a new location in Restaurant Row at Hughes Landing, a 66-acre mixed-use development offering views of the 200-acre Lake Woodlands. This will be the second Houston-area location for the steakhouse. Rob Rowe of Sierra U.S. and Jack Breard of CBRE | UCR represented Fogo de Chão, and Rip Reynolds of The Howard Hughes Corp. represented The Woodlands Development Co. in leasing negotiations.

September 10, 2015

Office Texas

HFF Arranges $33.5M in Financing for Data Center and Office Complex in Metro Houston

by Katie Sloan September 9, 2015

MONTGOMERY, TEXAS — Holliday Fenoglio Fowler (HFF) has secured $33.5 million in senior financing in conjunction with the recapitalization of Westland Bunker, a 2N data center and office complex located in the Houston suburb of Montgomery. Colby Mueck of HFF worked on behalf of the borrower, Houston Bunker LLC, to place the loan with Sovereign Bank and Hillcrest Bank. Westland Bunker is situated on a 50-acre campus at 550 Club Drive and consists of a 19,116-square-foot, two-story underground data center and a four-story 61,086-square-foot office building. A 2N power redundancy means that the data center has double the amount of equipment needed.

September 9, 2015

Retail Texas

Ridgmar Mall to Undergo Renovations and Tenant Expansion

by Katie Sloan September 9, 2015

FORT WORTH, TEXAS — GK Development Inc.’s Ridgmar Mall is set to open five new stores and complete renovations on existing retail space. Renovations to the 1.27 million-square-foot mall include the expansion of Journeys, a specialty footwear store, to 1,890 square feet with a fresh design and new color palette; the expansion of Zale’s to 2,500 square feet with renovations including new flooring and merchandise displays; remodeling at the mall’s Buckle location, including a new store front and color scheme; and a renovation of Rave Ridgmar 13 + Xtreme by Cinemark Theaters Inc. to include plush oversized recliners, enhanced concessions and reserved seating. J.C. Penney has also remodeled and rebranded its hair salon as The Salon by InStyle. New retailers set to open at Ridgmar include Sweetness Sweets, Luna’s Candy Land Imports, Texas Canyon, Kokitos and Michelle’s Furniture.

September 9, 2015

Industrial Texas

Marcus & Millichap Brokers Sale of Dollar General Business Park in Houston

by Katie Sloan September 9, 2015

HOUSTON — Marcus & Millichap has brokered the sale of Dollar General Business Park, a 102,500-square-foot industrial property located in Houston’s Inner Loop submarket at 4000 Telephone Road. A 4,250-square-foot Dollar General store anchors the business park. Derek Hargrove and Justin Miller of Marcus & Millichap’s Houston office represented the seller, an affiliate of Houston-based Braun Enterprises, in the transaction.

September 9, 2015

Mixed-Use Office Texas

Port San Antonio Begins $9M Road Extension

by Katie Sloan September 9, 2015

SAN ANTONIO — The City of San Antonio’s Transportation and Capital Improvements Department has begun demolition of several obsolete buildings totaling over 40,000 square feet at Port San Antonio, a redevelopment of the former Kelly Air Force base, to extend portions of 36th Street by an additional half mile toward the south. Upon completion in late 2016, the new road will intersect with General Hudnell Drive, providing the 1,900-acre property with additional road connections in support of growing logistics activity. The road will now end near the aircraft maintenance workshop facilities and Air Force headquarters operations where the majority of the Port’s 12,000 daily commuters work. The road extension will support the future development of industrial and mixed-use sites in the heart of the property.

September 9, 2015

Healthcare Office Texas

Henry S. Miller Cos. Arranges Three Medical Office Leases in North Texas

by Katie Sloan September 9, 2015

DALLAS — Dallas-based Henry S. Miller Cos. has arranged three medical office leases totaling approximately 19,000 square feet in North Texas. Transactions include the lease of 5,738 square feet to KRK Research Group at Arlington Medical Plaza located at 801 Road to Six Flags in Arlington; the lease of 4,453 square feet to Liberty At Home Dialysis at Red Bird Office Park located at 5565 Red Bird in Dallas; and the lease of an 8,790-square-foot medical clinic to GDC Partners at Avalon Town Center in Glandbury. Jim Turano of Henry S. Miller Cos. represented the landlord of Arlington Medical Plaza, Liberty At Home Dialysis and GDC Partners in the three separate transactions. John Pelitier and Dave Cochran of E. Smith Realty represented KRK Research Group; Andrew Gilbert of Holt Lunsford represented the landlord of Red Bird Office Park, 5565 Red Bird LP; and Kornel Romada of NAI Robert Lynn represented the landlord of Avalon Town Center, WREE Avalon LLC, in the lease negotiations.

September 9, 2015

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