Texas

Malawi’s Pizza to Open First Location in Metro Houston

by Haisten Willis May 10, 2016

MISSOURI CITY, TEXAS — Malawi’s Pizza has leased 5,000 square feet of retail space at 8731 Highway 6 Center in Missouri City for its first Houston-area location. The center is located at Highway 6 and Sienna Parkway in Sienna Plantation, a master-planned development. Malawi’s Pizza plans to eventually open 22 restaurants in the greater Houston market. Doug Hermann, Edward Heap and Randy Hopper with The Weitzman Group handled negotiations as tenant representatives for the restaurant. The newly constructed center is shadow-anchored by H-E-B and serves the growing Sienna Plantation market. For each meal purchased at Malawi’s Pizza, the restaurant donates a meal to a child in Malawi, Africa.

May 10, 2016

Office Texas

Bob Moore Breaks Ground on GM Financial’s Regional Service Center in San Antonio

by Haisten Willis May 9, 2016

SAN ANTONIO — Bob Moore Construction has broken ground on a regional financial servicing center in San Antonio for GM Financial Credit Inc. The servicing center is the fifth in North America for GM Financial. The new facility is projected to employ up to 700 people in the Westover Hills area of the city. The project received a $2.5 million grant from the Texas Enterprise Fund, as well as tax incentives from the city of San Antonio and Bexar County. San Antonio-based RVK Architects is the architect and Pape-Dawson Engineers Inc. is the civil engineer. The new building will include 100,000 square feet of office and call center facilities over two floors. The building will also include 720 parking spaces for employees and guests. The building is projected to go into operation in mid-2017.

May 9, 2016

Hospitality Mixed-Use Multifamily Office Texas

Seguin Main Street Program Buys Historic Hotel in Downtown Seguin

by Haisten Willis May 9, 2016

SEGUIN, TEXAS — The Seguin Main Street Program has purchased the historic Aumont Hotel located at 301 N. Austin St. in Seguin. The hotel, which was built in 1916, is vacant but is designed with retail space and an event venue on the first floor, apartments on the second and third floors and office suites on the fourth floor. The almost 20,000-square foot building is celebrating its centennial this year. Suzanne Puente of Berkshire Hathaway Home Services – Don Johnson Realtors represented the buyers, Gregg Woodall and Amy Woodall of New Braunfels, in the sale. Kelley Rose of Heritage Texas Properties represented the seller, Thomas Giles, who purchased the building in 2003 and rehabbed it into its current form. The buyers plan to renovate the apartments and offer premier residential rental space, as well as maintain the retail and office space with minor upgrades.

May 9, 2016

Loans Multifamily Texas

Old Capital Secures $9.2M Acquisition Loan for Apartment Complex in Metro Dallas

by Haisten Willis May 9, 2016

IRVING, TEXAS — Paul Peebles of Old Capital has secured a $9.2 million loan for the purchase of Silverado Apartments in Irving. An unnamed local ownership group purchased the 184-unit property from an unnamed seller. Old Capital provided the 12-year Fannie Mae loan at an 80 percent loan-to-value ratio. The non-recourse loan includes a 30-year amortization schedule.

May 9, 2016

Office Texas

Fairfield Advisors Arranges $5.2M Sale of Medical Office Building in Houston

by Haisten Willis May 9, 2016

HOUSTON — Fairfield Advisors has arranged the $5.2 million sale of the University of Texas Physicians medical office building located at 11476 Space Center Blvd. in Houston. University of Texas Physicians is the anchor tenant in the medical building on a long-term, triple net lease. The other tenant in the building is the Memorial Hermann Health System, which is the largest nonprofit hospital system in Texas. The seller is a local developer in Houston. The buyer is a private equity group from California.

May 9, 2016

Retail Texas

HSM Brokers Sale of Lucky 7 Plaza in Dallas

by Haisten Willis May 9, 2016

DALLAS — Max Tsai and Peter Kosley of Henry S. Miller’s retail division have brokered the sale of Lucky 7 Plaza in Dallas. Located at 11252 Harry Hines Blvd., the 51,726-square-foot shopping center sits on 2.5 acres and is located near new DART stations along the green line. The property is part of the Asian Trade District. The buyer and seller were unnamed.

May 9, 2016

200-town-center-blvd-garland-texas-panera-bread

Restaurant Retail Texas

InvestCore Commercial Brokers $3.2M Sale of Panera Bread in Metro Dallas

by Haisten Willis May 6, 2016

GARLAND, TEXAS — InvestCore Commercial has brokered the $3.2 million sale of a 4,315-square-foot retail building in Garland, which is triple-net leased to Panera Bread. The 0.9-acre pad is located at 200 Town Center Blvd., directly adjacent to an In-N-Out Burger. The eatery is situated at the entrance to Firewheel Town Center, a more than 1 million-square-foot shopping center owned by Simon Property Group. Panera Bread opened on Feb. 8. The fast-casual bakery-café holds a 15-year ground lease, with three, five-year renewal options. Rent schedules include increases of up to 7.3 percent. An out-of-state investor purchased the asset from Next Play Firewheel LLC in an all-cash, 1031 tax-deferred exchange transaction. The deal closed at a 4.25 percent cap rate. Michael Campbell and Ed Colson of InvestCore Commercial represented the seller.

May 6, 2016

Loans Office Texas

Versant Completes $32.5M Bridge Recapitalization of Met Center 15 in Austin

by Haisten Willis May 6, 2016

AUSTIN, TEXAS — Versant Commercial Brokerage Inc. has recapitalized the 256,000-square-foot Met Center 15 office building located in Austin. Versant assisted the tenant-in-common (TIC) investors by originating new senior debt and preferred equity, overseeing structural remediation and utilizing Internal Revenue Code Section 721 to roll up the TIC structure into a limited liability company on a tax-deferred basis. In 2010, the TIC owners discovered that there was a construction defect at the property. Expansive soils underneath the slab were causing the building to shift. At the same time, their loan was maturing and lenders were unwilling to refinance the property due to the construction defects. In addition, the owners did not have the financial resources to pay for the $4 million remediation cost. Versant designed a financing package to maximize returns for the TIC investors. With the assistance of Ethan Schelin of Landmark Capital Advisors, Versant originated new debt of $28 million and $4.5 million of preferred equity through Versant’s network of investors. The new sponsor is Virtua Partners, which also provided the loan guarantees.

May 6, 2016

Office Texas

Savills Studley Arranges Office Lease in Austin

by Haisten Willis May 6, 2016

AUSTIN, TEXAS — Savills Studley has represented Accruent LLC in the company’s relocation and consolidation to 104,448 square feet of office space at 3110 Esperanza Crossing in Austin. The real estate and facilities management software company is currently located at Braker Pointe II and Quarry Oaks and will consolidate into its new space by October. Steve Walbridge, Marcus Arredondo, John Scoblick and Alecia Burdick of Savills Studley represented Accruent in the negotiation. Jonathan Tate of Endeavor represented the landlord, TR Domain LLC.

May 6, 2016

Hospitality Texas

M&M Secures Sale of 98-Room Hawthorn Suites in Dallas

by Haisten Willis May 6, 2016

DALLAS — Marcus & Millichap has secured the sale of Hawthorn Suites, a 98-room hotel located in Dallas. Chris Gomes of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s San Antonio office, marketed the property on behalf of the seller, a private investor. Gomes, Miller and Joseph Jaques, an associate in Marcus & Millichap’s Dallas office, also procured the buyer, a private investor. Hawthorn Suites is located at 7900 Brookriver Drive, less than three miles from Dallas Love Field Airport. Built in 1984, the midscale extended stay hotel is situated on four acres. Amenities include a free hot breakfast buffet with a dining area, business center, on-site exercise facility and outdoor swimming pool. Each suite provides a full kitchen, sitting area and flat-screen TV.

May 6, 2016

Newer Posts

Older Posts