HOUSTON — InfusionDev Corp. has leased 9,809 square feet at Town Centre I located at 750 Town & Country Blvd. in Houston. Bob Cromwell and Kevin Nolan of Moody Rambin represented the building owner, Town Centre Partners Ltd., and Kristen Rabel and Weldon Martin of CBRE represented the tenant in lease negotiations.
ATASCOCITA, TEXAS — Marcus & Millichap has arranged the $3.4 million all-cash sale of a 10,000-square-foot property net leased by The Learning Experience in Atascocita. Nate Newman of Marcus & Millichap represented the seller, a developer, and secured the buyer, a California investor, in the transaction.
HOUSTON — Houston-based NewQuest Properties has arranged five retail leases at separate properties in North, Central and South Texas. Transactions include a 7,454-square-foot lease for Gen Korean BBQ House at Carrollton Town Center in Carrollton; a 43,940-square-foot ground lease for Panda Express at New Braunfels Town Center at Creekside in New Braunfels; a 21,164-square-foot lease for Halloween City at Market in Hunting Bayou in Houston; a 6,300-square-foot lease for Halloween City in Tomball Parkway Plaza in Tomball; and a 4,004-square-foot lease for Wholesale Lubricant Services at 2101 Shepherd Drive in Houston. Heather Nguyen, John Nguyen and Meredith McLeod-Cobb of NewQuest Properties represented the landlord for Carrollton Town Center, and Tey Tiner of CBRE represented Gen Korean BBQ House; David K. Meyers and Glenn Dickerson of NewQuest Properties represented the landlord of New Braunfels Town Center at Creekside, and Michael Jersin of Reata Real Estate represented Panda Express; Brad Elmore of NewQuest Properties represented the landlord of Market at Hunting Bayou and Tomball Parkway Plaza, and Traci Holman of Baker Katz represented Halloween City; and Chris Dray of NewQuest Properties represented the landlord of 2101 Shepherd Drive, 2101 Shepherd LLC, and Todd Moseley of Moseley Commercial represented Wholesale Lubricant Services in …
SUGAR LAND, TEXAS — Transwestern has been selected by Equus Capital Partners Ltd. to lease and manage the Comerica Bank Building, a 193,998-square-foot office building located at 1 Sugar Creek Center Blvd. in Sugar Land. Doug Little and Louann Pereira of Transwestern will provide leasing services for the complex. The building’s amenities include surface parking and an attached four-level parking garage, a deli and full-service banking facility.
HOUSTON — CBRE has arranged a 3,535-square-foot lease with Peli Peli Kitchen, a new fast-casual restaurant chain inspired by modern South African and Southern cuisines. The restaurant will be located within the Gateway at Spring Valley development at 9090 Katy Freeway in Houston. Eric Lestin and Kyle Golding of CBRE’s Houston office represented Peli Peli in the site selection and lease transaction. The new restaurant is slated to open by spring 2016. Peli Peli Kitchen joins its sister restaurant Peli Peli, which has locations in the Vintage Park Shopping Center and the Houston Galleria. Houston-based Ersa Grae Corp. is the developer of Gateway at Spring Valley, located at the corner of Campbell Road and I-10.
GARLAND, TEXAS — RagingWire Data Centers, a data center provider, has purchased 42 acres of land in Garland to build a 1 million-square-foot data center campus known as TX1. The 80-megawatt property will be located off of the President George Bush Turnpike at the intersections of Lookout Drive and Campbell and Telecom roads. The city of Garland and Garland Power & Light worked with RagingWire to provide planning assistance and economic development incentives for the project. Construction is expected to begin immediately on the first of five 180,000-square-foot data centers at the TX1 campus. Leasing of wholesale build-to-suit vaults, custom data center buildings and retail colocation cages and racks is expected to commence by September 2016. Bo Bond and Ali Greenwood of JLL represented RagingWire in the land acquisition.
WICHITA FALLS, TEXAS — NorthMarq Capital has arranged the $13 million refinance of a three property multifamily portfolio consisting of 588 units in Wichita Falls. The properties are located at 3611 and 4515 Maplewood Ave. and 4700 Taft Blvd. Rob Hervey and Mark Dodson of NorthMarq secured financing on behalf of the borrower through a CMBS lender. The loan is structured under a 10-year term with a 30-year amortization schedule.
HOUSTON — EDGE Realty Partners has arranged two retail leases totaling 3,078 square feet at separate shopping centers located in Houston. In the first transaction, EDGE Realty Partners negotiated a 1,730-square-foot lease for OXXO at Sandbridge Plaza at the intersection of Eldridge Parkway and Sandbridge Drive. In the second transaction, the brokerage firm arranged a 1,348-square-foot lease for One Stop Nutrition at Briar Forest Plaza at the intersection of Eldridge Parkway and Briar Forest Drive in Houston. Hannah Smith of EDGE Realty Partners represented the landlord, West Houston Retail, in both transactions. Schuyler Pulford of Remax Commercial represented OXXO, and Jim Hendrix of Streetwise Retail Advisors represented One Stop Nutrition.
THE WOODLANDS, TEXAS — NorthStar Midstream, a midstream crude and natural gas service, storage and transportation company, has relocated its corporate headquarters from Minneapolis to The Woodlands, a northern suburb of Houston. The new office occupies 7,500 square feet on the top floor of Parkwood I, an office complex at 10077 Grogan’s Mill Road. Terms of the lease were not disclosed. Rob Banzhaf, managing principal of Newcor Commercial Real Estate, represented NorthStar in the office lease transaction. Lisa Hughes with The J Beard Company represented the landlord, Parkwood Holdings.
Since 2011, Austin’s multifamily market has become one of the strongest in the state and nation. With stable job growth, demand is projected to remain strong. Marketwide occupancy hovered around 94 percent at the end of the second quarter of 2015, with rents increasing at a 6 percent year-over-year clip. Austin and Travis County continue to rack up the rankings, with Thumbtack naming the area a top environment for small businesses and WalletHub naming it the best large U.S. city to live in. Headlight Data ranked Travis County the second fastest-growing financial services sector in 2014 and Austin came in as the number one city for startup activity on the 2015 Kaufmann Index. Generally, the first question on everyone’s minds is how long this bullish cycle will last. With the development pipeline running at historically high levels, what is the impact on today’s market and how does the future look? Apartment construction dropped off dramatically in 2010 and remained compressed until 2014. However, population grew incredibly fast during the construction trough, resulting in heightened demand. Today, there are 16,000 units in some stage of development with just over 10,000 expected to deliver in 2015. The difference between today and the …
