AUSTIN, TEXAS — Bridge at South Port LLC has purchased The Oslo Apartments in Austin. Ellen Muskin and Daniel Elam of Muskin Commercial represented the sellers in the transaction. Rex Jones with AMP Management represented the buyer and will be managing the property. The Oslo includes 176 units, consisting of studio, one- and two-bedroom apartments. The property was renovated between 2014 and 2015.
EL PASO, TEXAS — Transload Forwarding, a local supply chain solutions company, has signed a long-term, 124,436-square-foot lease at 9600 Pan American Drive in El Paso. Arturo De la Mora and Chad McCleskey of CBRE’s industrial and logistics division in El Paso represented the tenant in lease negotiations. The new location will be used to support Transload Forwarding’s logistics, custom brokerage and warehousing operation services.
HOUSTON — NAI Partners has represented PetroAfrica LLC in the lease of 18,875 square feet of industrial distribution space at 8950 Kirby Drive in Houston. PetroAfrica is a provider of oilfield supply and services established in 2005 in the Republic of Angola. PetroAfrica specializes in training, consulting, manpower, engineering services and the procurement and supply of materials and specialized equipment to support oil and gas exploration and production. Darren O’Conor and Jake Wilkinson of NAI Partners represented PetroAfrica in the negotiations. Sam Hansen of NAI Partners represented the landlord, SL Interchange LP.
DALLAS — McCarthy Building Cos. will build Southwest Airlines’ new office and training facility on the company’s corporate campus in Dallas. The new building, called “Wings,” consists of a 414,000-square-foot office building and an attached 367,000-square-foot flight training center, which will house 18 flight simulator bays, associated offices and ancillary areas. The project is valued at more than $150 million, according to the Dallas Morning News. The training portion of the structure will be constructed out of a special hardened building that can withstand 210-mile winds as it must remain operational every day of the year in all weather conditions. Also included in the project is a 1,900-car parking garage and surface parking that will provide for a total of 2,500 cars, as well as additional site work and construction of pedestrian bridges. Southwest’s corporate campus is adjacent to Love Field Airport. BOKA Powell is the project architect and Pacheco Koch is the landscape architect/civil engineer. Reed Wells Benson is the mechanical and electrical engineer and L.A. Fuess Partners and Ponce-Fuess are providing structural engineer services on the project. The project will commence in June and is expected to be completed in early 2018.
HOUSTON — American Bureau of Shipping (ABS) has signed a long-term lease in CityPlace 2, becoming the latest major employer to move its global headquarters to Springwoods Village. CityPlace is a 60-acre mixed-use development that will include 4 million square feet of Class A office space, 400,000 square feet of retail space, a full-service hotel and additional luxury multifamily projects when fully developed. ABS, a provider of classification services to the marine and offshore industries, will occupy the entire office component of the new 10-story, 326,800-square-foot CityPlace 2, which will begin construction in early 2017. Scheduled for completion in late 2018, CityPlace 2 will also include 23,700 square feet of ground-floor retail. Tim Relyea and Kevin Snodgrass of Cushman & Wakefield represented ABS, while Chrissy Wilson of JLL and Dennis Tarro of Patrinely Group represented the landlord.
DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap serving institutional and private real estate investors, has arranged the sale of The Legacy at Preston Hollow, a nonprofit seniors housing facility featuring 45 assisted living beds and 113 skilled nursing beds. Built in 2000, The Legacy at Preston Hollow is located about 10 miles north of downtown Dallas, and 1.4 miles from 668-bed Medical City Dallas Hospital. Mark Myers, Joshua Jandris, Charles Hilding and Ryan Fleming of IPA, along with Kelsie Vogds of Marcus & Millichap, represented the seller. Myers, Jandris, Hilding and Fleming also procured the buyer.
CONROE, TEXAS — KeyBank Real Estate Capital has provided a $5.2 million bridge loan for Hollow Creek Apartments, a 120-unit affordable housing complex located in Conroe. Operating under the Section 42 Low Income Housing Tax Credit (LITHC), 75 percent of the units are restricted to providing affordable housing, while the remaining 25 percent are designated as market-rate apartments. John Gilmore of KeyBank arranged the financing. The project is sponsored by Harmony Housing, a 501(c)(3) nonprofit organization dedicated to providing affordable rental housing throughout the United States.
DALLAS — Citadel Partners LLC has represented Dallas CPA Society in the completion of a 6,364-square-foot office lease at 12400 Coit Road in Dallas. Taylor Dickerson and Scott Morse of Citadel Partners represented the tenant, and Layne Mayfield and Rodney Helm of Cushman & Wakefield represented the unnamed landlord.
AUSTIN, TEXAS — Cushman & Wakefield has acquired Oxford Commercial in Austin. Oxford Commercial has served clients in the areas of commercial real estate brokerage, investment sales, development consulting, market research and related advisory services since 1993. The company employs 35 brokers and staff members and has been behind many of the largest transactions in central Texas, including Athena Health’s lease inside the Seaholm Power Plant. In the past three years, Oxford Commercial’s transaction value totals reach $1.3 billion. Spencer Hayes, co-founder and managing partner of Oxford Commercial, will remain as managing principal under the new structure. Hayes worked for Cushman & Wakefield prior to founding Oxford Commercial.
CARROLLTON, TEXAS — 85°C Bakery Café has selected Carrollton Town Center in Carrollton for its first store in Texas and will open the location this summer. The Taiwan-based 85°C Bakery Café chain has more than 800 stores in Taiwan, China, Australia, Hong Kong and the United States. The company specializes in espresso coffee made from Guatemalan beans along with gourmet desserts. In the United States, the company previously focused mainly on California, where it has opened 10 stores since 2008. Carrollton Town Center, owned by NewQuest Properties, offers a 10- to 15-mile trade area for 85°C’s target market. The company plans to open three more stores in metro Dallas within a year, along with one in Houston. The café will span 5,771 square feet along with a 600-square-foot patio.