Texas

CBRE Arranges Industrial Leases in El Paso

by Haisten Willis January 18, 2016

EL PASO, TEXAS — CBRE has arranged leases for two logistics tenants at 7157 Merchant Ave. in El Paso. The buildings are part of a larger industrial portfolio purchased by Phoenix-based ViaWest Group in 2015. Tianhai Electric North America, an electronic components manufacturer for the automotive industry, leased 21,809 square feet. The El Paso warehouse location will support the company’s Cuidad Juarez operations plant across the U.S./Mexico border. Green Bay, Wis.-based RES Food Products International, manufacturer of pickles, sauces and salad dressings, has leased 20,000 square feet for distribution operations. Since acquiring the four-building, 245,473-square-foot portfolio in March 2015, ViaWest Group has installed new roofing, resurfaced the parking lots and updated the exterior paint. The portfolio is 60 percent occupied. Arturo De la Mora of CBRE’s El Paso office represented the landlord in lease negotiations.

January 18, 2016

Colliers International Arranges Sale of Villas at Helen of Troy in El Paso

by Haisten Willis January 15, 2016

EL PASO, TEXAS — Clear Sky EBH has purchased the 108-unit Villas at Helen of Troy apartments located at 1325 Northwestern Drive in El Paso. Villas at Helen of Troy Partners LP was the seller. Bill Hahn, Jeff Sherman and Trevor Koskovich of Colliers International’s Phoenix office brokered the transaction. Maricopa County records show the buyer acquired the property with a new loan arranged by Walker & Dunlop’s Phoenix office. The complex was built in 2013.

January 15, 2016

Retail Texas

InvenTrust Acquires Shopping Center in San Antonio for $21.5M

by Haisten Willis January 15, 2016

SAN ANTONIO — InvenTrust Properties Corp. has acquired Sonterra Village Shopping Center, a 42,492-square-foot shopping center located in San Antonio, for $21.5 million. Newly constructed, Sonterra Village is anchored by Trader Joe’s with a mixture of restaurants, fitness, lifestyle and soft goods retailers.

January 15, 2016

Retail Texas

M&M Arranges Sale of 14,800 SF Retail Property in Houston

by Haisten Willis January 15, 2016

HOUSTON — Marcus & Millichap has arranged the sale of Hawthorne Square, a 14,800-square-foot retail property in Houston. Justin Miller and Derek Hargrove of Marcus & Millichap’s Houston office secured and represented the buyer, a limited liability company. Anchored by Starbucks Coffee, Hawthorne Square is located at 3407 Montrose Blvd.

January 15, 2016

Multifamily Texas

KWA Begins Construction on Post Oak Apartments in Metro Dallas

by Haisten Willis January 15, 2016

MCKINNEY, TEXAS — KWA Construction has started construction at Post Oak Apartments, a 182-unit affordable housing rental complex in McKinney, on behalf of owner McKinney Millennium II and developer Ground Floor Development. Post Oak Apartments will be financed with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. The complex will offer 52 units at competitive market rental rates, with the remaining 130 units available to families and individuals earning 60 percent or less of the area median income (AMI). The community is located on seven acres at the southeast quadrant of the McKinney Ranch Parkway and Collin McKinney Parkway intersection. Designed by Architecttura, the six wood-frame buildings will feature a majority masonry exterior using a mix of brick and stone products. The four-story, elevator-served apartments will offer one-, two- and three-bedroom units. Tenant amenities will include a 5,978-square-foot leasing center and clubhouse with a fitness center, business center, laundry facility and resident lounges with a kitchen, as well as individual patios or balconies. The location of the 247,093-square-foot development will provide access to medical centers, schools, employment and recreation facilities. Boston Capital is the investor of the construction of Post Oak Apartments.

January 15, 2016

Loans Multifamily Texas

LMI Capital Closes Two Loans Totaling $6.2M in Central Texas

by Haisten Willis January 15, 2016

KILLEEN AND TEMPLE, TEXAS — Jamie Safier and Kurt Dennis of LMI Capital have placed debt for the acquisition and refinancing of two separate garden-style apartment complexes located in tertiary markets in the central Texas region. Dennis secured the acquisition loan for a garden-style apartment complex in Killeen totaling more than 100 units. The five-year, 4.75 percent fixed-rate loan equates to 70 percent of the purchase price and features a flexible pre-payment structure. Working on behalf of the borrower for the second transaction, Safier arranged a 10-year, fixed-rate agency loan at 75 percent leverage for a 140-unit multifamily community in Temple.

January 15, 2016

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Multifamily Texas

IPA Arranges Sale of The Phoenix Apartment Complex in Fort Worth

by Haisten Willis January 14, 2016

FORT WORTH, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of The Phoenix, a 170-unit luxury multifamily community in the Near Southside district of Fort Worth. Will Balthrope, Drew Kile and Rowan Burch of IPA advised the sellers, Fort Worth-based Eisner Development Corp. and Baton Rouge, La.-based Ventures Development Group. Balthrope, Kile and Burch also procured the buyer. The property is located at the intersection of College Avenue and West Peter Smith Street, just south of I-30 and west of I-35 West at 429 College Ave. Amenities at The Phoenix include a 24-hour gated entrance, a 4,257-square-foot office and clubhouse with a catering kitchen and fitness/yoga area, as well as a pool with a tanning shelf. All apartments feature granite kitchen countertops, stainless steel appliances, pantries and linen closets. Each apartment has a balcony, and 52 units have unobstructed views of the Fort Worth skyline.

January 14, 2016

Industrial Texas

Glasfloss Industries Purchases Headquarters Building in Metro Dallas

by Haisten Willis January 14, 2016

DESOTO, TEXAS — Glasfloss Industries has purchased a new headquarters building within the Eagle Industrial Park area in Desoto. Glasfloss is working on preparing the building for machinery setup and operations and is expecting to move in around mid-year. Established in 1936, Glasfloss Industries is the oldest manufacturer of HVAC air filtration products in the United States. The company has been continuously owned and operated by the same family for 80 years and serves all major commercial, industrial and residential HVAC filtration markets. JLL’s Craig Phelps and Worth Ross & Associates’ Steve Sheperd negotiated the transaction on behalf of the buyer.

January 14, 2016

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Loans Office Texas

Q10 KDH Arranges $2.8M Financing for Office Building in North Texas

by Haisten Willis January 14, 2016

MILLSAP, TEXAS — Q10 KDH’s Matt Franke has arranged $2.8 million in financing for an affiliated entity of Archway Properties, which developed GEODynamics’ new corporate office building in Millsap. The Class A office building spans 15,866 square feet and is 100 percent occupied. The single-story property features an exterior of stone and brick and drought-resistant landscaping. Interior skylights and windows provide natural light. Included on the grounds is a standalone guard house. The property will consolidate several GEODynamics offices.

January 14, 2016

Office Texas

Quintana Minerals Corp. Leases Office Space in Houston

by Haisten Willis January 14, 2016

HOUSTON — Quintana Minerals Corp. has leased 17,465 square feet of office space at 1415 Louisiana St., a 43-story office tower located in Houston’s central business district. Quintana is relocating from 601 Jefferson St. to the 520,000-square-foot, Class A office building, which is connected through tunnels to many downtown amenities including dining, shopping, services and more. Connor Saxe of Colvill Office Properties and Richard Barbles of Stream Realty represented the property’s ownership, Wedge Commercial Properties, in the lease transaction. Philip Price, formerly of Cushman & Wakefield and now of Newmark Grubb Knight Frank, along with Trey Strake of Cushman & Wakefield, represented the tenant. A capital improvement campaign is underway, and once complete, the building will feature a new main entry, a main lobby accented with Italian stone, a tunnel makeover including new lighting, floor and wall treatments, and a new back-painted glass elevator lobby. The expected completion date of the renovations is March 2016.

January 14, 2016

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