Texas

Stream Realty Partners Purchases Land for Farmers Brothers Cos. Headquarters

by Haisten Willis August 4, 2015

NORTHLAKE, TEXAS — Stream Realty Partners has acquired a 28-acre site at the corner of I-35 West and State Highway 114. The land will be the site of Farmer Brothers Cos.’ new headquarters facility in Northlake. Northport 35 is Stream’s three-building, 945,000-square-foot industrial project that broke ground in January. Farmer Brothers’ new headquarters will include corporate office space, a training facility, coffee roasting plant and distribution warehouse. Cannon Green, Albert Jarrell and Bob Hagewood of Stream’s development team will commence construction on the project this month. Green and Hagewood represented Stream Realty Acquisition LLC in the land transaction. The land contract holder, Bill Vaughan, represented himself. Stream will develop the site, Wells Fargo will own it and Farmer Brothers will handle leasing.

August 4, 2015

JLM Arranges Industrial Build-to-Suit Lease in Houston

by Haisten Willis August 3, 2015

HOUSTON — JLM Commercial Advisors has negotiated a build-to-suit lease of an 8.5-acre industrial tract with 21,500 square feet of workshop space and 8,500 square feet of office space. The space will be used for Pipeline Research Council International’s technology development center. The complex is located at 6410 Langfield Road in the Northwest Crossing Industrial Park. The property will be one of the largest independent pipeline testing facilities of its kind in the world. Lane Guinn of JLM Commercial Advisors represented the tenant in the negotiations. Dan Zoch of The Carson Cos. represented the landlord, Carson-VA Industrial.

August 3, 2015

Industrial Texas

Sonoco Flexibles to Expand Location in Waco

by Haisten Willis August 3, 2015

WACO, TEXAS — Global packaging company Sonoco plans to expand its Waco location this year, with the project seeing completion in early 2016. Sonoco will install a new rotary die-cut machine, slitter and rotogravure printing press, investing $13.5 million in equipment at the facility and adding an estimated 15 jobs to the area, which is a 27 percent increase to its employment base. Sonoco produces a variety of flexible packaging options, including easy open/reseal packaging systems, bags and pouches. Sonoco’s flexible packaging technologies include roto and flexo printing, high-barrier laminations, precision scoring, integrated open and reclose features, specialty coatings and films, prototyping and graphics management.

August 3, 2015

Office Texas

TNA Realty to Build Medical Office Building in Metro Dallas

by Haisten Willis August 3, 2015

ARLINGTON, TEXAS — Jim Turano of Henry S. Miller Brokerage’s office division represented the buyer in the acquisition of a 30,000-square-foot site in Arlington. TNA Realty LP purchased the site, located at 2712 Matlock Road, from an undisclosed seller. The new owners plan to construct an 8,000-square-foot medical office building on the property. Bobby DeRiso of DeRiso Development represented the seller in the transaction.

August 3, 2015

Hospitality Texas

M&M Arranges Sale of 146-Room Hotel in Fort Worth

by Haisten Willis August 3, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Motel 6 Fort Worth South, a 146-room hospitality property located in Fort Worth. Chris Gomes and Skyler Cooper of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s Marcus & Millichap’s San Antonio office, marketed the property on behalf of the seller, a private investor. Cooper sourced the buyer, a local investment group and an experienced Motel 6 operator. Motel 6 Fort Worth South is located at 6600 S. Freeway in Fort Worth, directly off I-35 and just south of Altamesa Boulevard. Constructed in 1981, the asset is situated on 3.3 acres. The two-story property features a guest laundry facility, new televisions, updated guest room flooring, new bedding and desks with seating areas. At the time of listing, Motel 6 Fort Worth South was in the process of implementing a new design concept.

August 3, 2015

Loans Multifamily Texas

Old Capital Provides Acquisition Loan for Apartment Complex in Metro Dallas

by Haisten Willis August 3, 2015

CARROLLTON, TEXAS — Old Capital has provided a 12-year, non-recourse Fannie Mae loan with 80 percent leverage for the purchase of the Lodge at Timberglen apartments in Carrollton. A local investment group has acquired the property. The new owners plan to add more than $2 million in updated interiors, along with a new swimming pool at the 260-unit, Class B complex.

August 3, 2015

Office Texas

Boxer Property Negotiates 67,504 SF Office Lease in Houston

by Haisten Willis July 31, 2015

HOUSTON — Boxer Property has concluded lease negotiations on a 67,504-square-foot lease with a financial services company. The property is located in the Northwest Commerce Building at 14405 Walters Road, which is owned and managed by Boxer Property. Brian Hines, Trey Miller and Alex Kakhnovets negotiated the agreement on behalf of Boxer Property. Brokers Rich Pancioli, Peter Livaditis and Ian Murphy represented the tenant on behalf of CBRE. In 2014, the ownership completed a capital investment campaign in the property to upgrade common areas and amenities including renovated lobbies, outdoor and indoor seating areas, Wi-Fi service, tenant conference facilities and bolstered security service

July 31, 2015

Industrial Texas

ARCO/Murray Begins Construction on AmeriPride Services Facility Expansion

by Haisten Willis July 31, 2015

ODESSA, TEXAS — ARCO/Murray has begun construction on a 10,000-square-foot building addition for AmeriPride Services in Odessa. AmeriPride is taking on the project due to the rapid growth in Odessa and the surrounding market area. The expansion will provide space to accommodate additional production equipment as well as improve soil and clean docks for loading and unloading. ARCO/Murray is providing a complete design/build solution including architectural and engineering design, permitting and construction. ARCO/Murray’s Matt Drake is the project manager and Jason McLaughlin will serve as project executive. ARCO/Murray is a national design and construction firm specializing in commercial construction and real estate.

July 31, 2015

Industrial Texas

Diamond Realty Forms Joint Venture for Construction of Industrial Park in Metro Dallas

by Haisten Willis July 31, 2015

WILMER, TEXAS — Diamond Realty Investments, a wholly owned subsidiary and U.S. real estate investment arm of Mitsubishi Corp., has formed a joint venture with Port Logistics Realty to develop the first phase of the 9 million-square-foot, $500 million Southport Logistics Park in Wilmer. The project is of the largest industrial developments currently underway in the United States. Diamond Realty has more than 20 years of real estate investment experience in the U.S., having invested in more than $2.5 billion in approximately 120 developments in the industrial, multifamily and student housing industries. Diamond Realty’s venture partner in Southport Logistics Park is Texas-based Port Logistics Realty, a real estate company controlled by CT Realty and Xebec Realty. When complete, the development will have up to nine buildings ranging is size from 400,000 to 1.5 million square feet on 530 acres. With the first two buildings scheduled for completion in the first quarter of 2016, the Class A industrial park has been designed for large users of distribution, logistics and e-commerce facilities by architectural firm Ware Malcomb. Southport Logistics Park is located within the Inland Port area of southern Dallas County, approximately 10 miles south of Downtown Dallas and directly across Interstate …

July 31, 2015

Office Texas

Velocis Arranges Sale of Two Austin Office Buildings

by Haisten Willis July 31, 2015

AUSTIN, TEXAS — Velocis, a private equity real estate manager, has sold two Class A Austin office buildings to Wedge Group, a Houston-based private equity firm. Totaling more than 170,000 square feet, the assets are Arboretum Atrium and Las Cimas I. They were purchased by Velocis in 2013 from Moore & Associates, an investor, owner and operator of commercial office properties. Arboretum Atrium is a 91,083-square-foot, Class A office building. Located in the Arboretum area in northwest Austin, the area serves as a hub for companies including Apple, Cisco, HP, Microsoft and Google. The building is located near restaurants, shops, hotels and other amenities and is one block from Hwy 183, MoPac and Loop 360. The asset is 100 percent leased. Las Cimas I is an 82,787-square-foot, three-story office building located in the center of the four-building Las Cimas office park. Built in 1999, the limestone building includes views of downtown Austin, on-site amenities and proximity to the Village of West Lake shopping center. The asset is 100 percent leased. Hale Umstattd and Leah Gallagher of Transwestern represented the seller in the transaction. Dallas-based Velocis has been active in real estate investment since 2011, purchasing 17 assets located in markets …

July 31, 2015

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