Texas

Sealy & Co. Acquires Northwest Point Business Park in Houston

by Haisten Willis February 17, 2016

HOUSTON — Sealy & Co. has acquired Northwest Point Business Park, a 232,307-square-foot light industrial portfolio located on Brittmoore Road in northwest Houston. The acquisition was made through the company’s investment offering Sealy Strategic Equity Partners (SSEP). The park consists of four industrial buildings located at the intersection of Highway 290 and Beltway 8. Northwest Point is 100 percent leased to 10 tenants including manufacturing, distribution and food processing companies. The average tenant has occupied the space for more than three years. The suites range from 4,695 to 76,880 square feet.

February 17, 2016

LandPark Arranges Acquisition of Two Office Buildings in Houston

by Haisten Willis February 17, 2016

HOUSTON — Peter Wall and Bill McGrath of LandPark Advisors have represented Stone Mountain Properties in the acquisition of two multi-tenant office buildings in Houston. The two buildings are located in the Westchase District and total 154,704 square feet of rentable area. The new buildings, located at 2424 and 2500 Wilcrest Drive, are situated near the northwest corner of Wilcrest Drive and Westheimer Road. LandPark Advisors is the parent company to LandPark Commercial, which was hired to provide both property management and leasing services on behalf of Stone Mountain Properties.

February 17, 2016

Office Texas

KBS REIT Signs 15,600 SF in Office Leases in Metro Dallas

by Haisten Willis February 17, 2016

RICHARDSON, TEXAS — KBS Strategic Opportunity REIT, a non-traded real estate investment trust based in Newport Beach, Calif., has signed three leasing deals at its Richardson Office Portfolio totaling 15,688 square feet. Shea & McMurdie Financial and Stuart Gurnea are new tenants occupying the properties, and Treliant Risk Advisors is an existing tenant that recently renewed its lease. Shea & McMurdie Financial, a consultancy offering tax planning and other financial services, signed a 3,082-square-foot lease. Stuart Gurnea, an insurance agent, signed a 1,026-square-foot lease, and Treliant Risk Advisors, a compliance, risk management and strategic advisory firm for the financial services industry, has renewed its 11,580-square-foot lease. The Richardson Office Portfolio is a four-building office campus located on 43 acres near the intersection of US-75 Central Expressway and President George Bush Turnpike. Mark Jordan and Laura Maczka of Sooner National Property Management LP represented KBS Strategic Opportunity REIT in the lease transactions.

February 17, 2016

Office Texas

Boxer Property Arranges 19,384 SF Office Lease in Houston

by Haisten Willis February 17, 2016

HOUSTON — Boxer Property has arranged the lease of 19,384 square feet of office space to HRSS LLP, a full service accounting firm, at 6671 Southwest Freeway in Houston. Travis Taylor and Chris Nash of Lee & Associates represented HRSS LLP in the lease transaction. Trey Miller and Jessica Barrera of Boxer Property negotiated the lease on behalf of the landlord, a third-party vendor. Located in Southwest Houston, 6671 Southwest Freeway has full floor suites, as well as private offices available for rent. The building contains granite floors and offers four levels of parking. Boxer Property provides on-site security and management.

February 17, 2016

Office Texas

Lee & Associates Negotiates Sale of Office Property in Houston

by Haisten Willis February 17, 2016

HOUSTON — Ortega Medical Building LLC has purchased a 9,600-square-foot office facility at 1606 Romano Park Lane W. in Houston. Robert Noack of Lee & Associates’ Houston office represented the seller, District & Urban Inc., in the transaction. Erica Lara of Realty Associates represented the buyer.

February 17, 2016

Industrial Texas

United Equities Commences Construction on Harms Road Industrial Park

by Haisten Willis February 16, 2016

HOUSTON — United Equities has commenced construction on Phase II of Harms Road Industrial Park in northwest Houston near Highway 290 and the Beltway. The single-tenant manufacturing buildings will each be between 16,000 and 30,000 square feet, with build-to-suit opportunities up to 60,000 square feet. Bank of Texas arranged construction financing for the project, and Powers Brown Architecture did architectural work. Travis Land of NAI Houston is leasing the project.

February 16, 2016

Multifamily Texas

CBRE Global Investors Acquires Apartment Community in Austin on Behalf of Allstate

by Haisten Willis February 16, 2016

AUSTIN, TEXAS — CBRE Global Investors’ U.S. Managed Accounts Group has acquired The Mosaic at Mueller, a Class A, 441-unit apartment community in Austin, on behalf of Allstate. The Mosaic was 96 percent occupied at the time of sale. The community is located at 4600 Mueller Road in East Austin, a residential area two miles from the University of Texas and four miles from Austin’s central business district. Mosaic is part of the 711-acre mixed-use Mueller Redevelopment. When completed, Mueller Redevelopment will consist of more than 4 million square feet of office and retail, 5,700 residences and 140 acres of recreational amenities. The Mosaic at Mueller’s interiors include granite countertops, stainless steel appliances, faux wood flooring and tile backsplashes. Property amenities include an 1,800-square-foot fitness center, two pools, five courtyards with grilling areas, garage parking and 8,669 square feet of fully leased ground-floor retail. Minor cosmetic updates are planned for the common areas.

February 16, 2016

Multifamily Seniors Housing Texas

Mainstreet Opens $16M Skilled Nursing Facility in Metro Dallas

by Haisten Willis February 16, 2016

PLANO, TEXAS — Mainstreet, a skilled nursing developer based in Indiana, has opened The Healthcare Resort of Plano, a 100-bed skilled nursing and rehabilitation facility in the Dallas suburb of Plano. Construction started in March 2014. Mainstreet developed the property and The Ensign Group Inc. will operate it. The 68,203-square-foot project costed $16 million to develop.

February 16, 2016

Industrial Texas

M&M Arranges Sale of 33,175 SF Industrial Building in San Antonio

by Haisten Willis February 16, 2016

SAN ANTONIO — Marcus & Millichap has arranged the sale of Marbach Business Center, a 33,175-square-foot industrial property located in San Antonio. Joshua Murphy and Jon Danklefs of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a limited liability company. Danklefs secured the buyer, a private investor. Marbach Business Center is located at 9207 Marbach Road in a growing corridor of western San Antonio. Built in 2006, the facility includes three buildings with stucco exteriors, garage-style roll-up doors and asphalt drives. There are 22 total units that range in size from 559 to 1,602 square feet.

February 16, 2016

Mixed-Use Office Restaurant Retail Texas

New Restaurant to Open in Villagio Town Center Mixed-Use Project in Metro Houston

by Haisten Willis February 16, 2016

KATY, TEXAS — Preparations are underway to launch a new concept of Hungry’s Café & Bistro, a dining venue with locations around Houston. Neima Sharifi and Sherbim Sharifi, nephews of Hungry’s original founder, are planning a mid-March opening for Local Table by Hungry’s in Villagio Town Center, where the company has leased 4,558 square feet of restaurant space. The Sharifi brothers have leased the last retail vacancy in Villagio Town Center, which is located at 22756 Westheimer Parkway in Katy. The 107,119-square-foot project’s office component is nearly 100 percent leased, with just 2,000 square feet of shell space available. Rachael Keener of NewQuest Properties represented the landlord, Villagio Investment Holdings, and also served as Hungry’s tenant representative. The prototype restaurant will include an inside bar plus a patio that opens to the courtyard. The Local Table site search had concentrated on Katy and The Woodlands. Local Table will include take-out and delivery service at lunch and casual dinner dining.

February 16, 2016

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