FORT WORTH, TEXAS — Hillwood Properties has secured a new lease from Title Source, an independent provider of title insurance, property valuations and settlement services in the nation. The company is the first tenant at the new Hillwood Commons I office complex at Alliance Town Center, and will lease more than 10,000 square feet at the facility. The property is located on the north side of Heritage Trace Parkway.
AUSTIN, TEXAS — CBRE Capital Markets’ investment properties has arranged the sale of a 9,522-square-foot office building at 3108 N. Lamar Blvd. in Austin. A local investment firm purchased the asset from an Austin-based partnership for an undisclosed price. The property is 85 percent occupied and is located near Seton Medical Center and The Heart Hospital of Austin. The main tenant, gift card e-commerce provider QuickGifts Inc., occupies 4,347 square feet. In 2012, the building received several renovations, including new paint on the exterior and common areas, new common area flooring and new interior signage. Walter Saad, Cathy Nabours and Logan Reichle of CBRE represented the seller in the transaction. Andrew Perkel of Retail Solutions represented the buyer.
HOUSTON — Cushman & Wakefield has arranged the sale of a 58,000-square-foot industrial property at 4909 Fulton St. in Houston. Will Condrey, David Cook, Jeff Peden and Scott Miller of Cushman & Wakefield’s Houston office represented the seller, F&J Real Estate Investments Ltd., in the transaction. Russell Hernandez of Hernandez Properties represented the buyer, 4909 Fulton Ltd. The property is located near Houston’s newly built Northline Transit Center.
HOUSTON — Hartman Short Term Income Properties XX Inc. affiliate Hartman Highway 6 LLC has purchased the Timbercreek Atrium and Copperfield office buildings. The two Class B office buildings total 93,656 square feet and are located in the northwest Houston submarket, along Highway 6 between I-10 and FM 529. Timbercreek Atrium is a three-story, 51,035-square-foot building located at the intersection of Highway 6 North and Timbercreek Place. The property was 79 percent leased at the time of sale. Tenants include The Loken Group, H2O and the Harris County Hospital District. Copperfield Building is a three-story, 42,621-square-foot office building located on Spencer Road. At the time of sale, the property was 80 percent leased to J.P. Morgan Chase Bank, Deep Sea Development and Harvey Home Health. Joshua Lass-Sughrue, Douglas Pack and Sam Hansen of NAI Partners, along with Jordan Summerville of C-III Realty Services, represented the seller in the transaction. Dave Wheeler, Julian Kwok and Russell Turman of Hartman Income REIT represented Hartman Highway 6 LLC.
DALLAS — Colliers International represented the law firm of Weil, Gotshal & Manges in the sublease of its 21,713-square-foot office space at 300 Crescent Court in Dallas. Schiff Hardin LLP, a law firm headquartered in Chicago, is the new tenant and will use this space as its new Dallas location. Schiff Hardin is currently in a temporary office at 100 Crescent Court while the company’s space is being renovated. The former Weil space was a secondary floor, which means that a reception area, break room and conference rooms will need to be constructed for Schiff Hardin’s new office. Schiff Hardin will occupy the entire fourth floor once the renovations are complete. Hunter Blanks, Travis Ewert and Scott Hage of Colliers International’s Dallas office represented Weil, Gotshal & Manges in the transaction. Bob Chodos and Steve Levitas of Colliers International Chicago represented Schiff Hardin LLP.
THE WOODLANDS, TEXAS — Truluck’s and Starbucks are set to join Hughes Landing, a 66-acre mixed-use development in The Woodlands. Truluck’s will be located in restaurant row in Hughes Landing, while Starbucks will be located on the retail level of One Lakes Edge, a 390-unit multifamily development. Hughes Landing features a mixture of restaurants and retail, entertainment venues, up to 800 multifamily residences, Class A office space and a full-service Embassy Suites scheduled to open in late 2015. Truluck’s plans to begin construction on its 10,000-square-foot space this spring, and expects to complete construction this fall. The restaurant features seafood, steaks and wine. The 1,820-square-foot Starbucks location is expected to open in March and will provide coffee, teas and snacks. Rip Reynolds of The Howard Hughes Corp. represented The Woodlands in the transactions. Pete Stewart Properties Inc. represented Truluck’s. Walter Salek and Lasater Miller with The Retail Connection represented Starbucks.
HOUSTON — Lee & Associates has opened a second office in Texas. Lee & Associates Houston will join the Lee & Associates Dallas/Fort Worth team in providing client services. Lee & Associates Houston is comprised of brokers from Griffin Partners Inc., a local boutique real estate player who has partnered with Lee & Associates to open the office. The office is located at the One Riverway building in Houston. Chris Lewis, Drew Lewis, Josh Cheatham and Travis Taylor will head Lee & Associates Houston. The new office will continue its relationship with Griffin Partners, providing project-leasing services.
WYLIE, TEXAS — Marcus & Millichap has arranged the sale of Trails Place Townhomes, a 62-unit apartment property located in Wylie. Tommy Lovell III and Kim Westcott of Marcus & Millichap’s Dallas office marketed the property on behalf of a local seller. Lovell and Westcott also procured the buyer, a limited liability company from California. Trails Place Townhomes is located at 1 Trails Place near North Highway 78. Built in seven phases from 1985 to 2005, the asset is situated on nearly four acres. The community includes one-, two-, and three-bedroom townhome floorplans ranging in size from 700 square feet to 1,135 square feet. Amenities include full size washer and dryer connections in all units, private patios for all units, on-site management, tile flooring, walk-in closets and carports for select units.
AUSTIN — ARA has arranged the sale of Elan East, a 251-unit, Class A apartment complex located in Austin. Patton Jones of ARA represented the sellers, South Carolina-based Greystar, and Washington, D.C.-based The Carlyle Group, in the transaction. A Boston- based institutional buyer purchased the property. Built in 2014, Elan East is an urban, garden-style community that includes one- and two-bedroom units. Amenities include a pool with outdoor lounge area and full kitchen with grilling stations/prep space, a gym, business center and club lounge. The property was 95 percent occupied at the time of sale.
PEARLAND, TEXAS — The Center at Pearland Parkway has opened in Houston. Located at the intersection of FM 518 and Pearland Parkway, Stream Realty Partners’ newest retail development provides 165,000 square feet of anchor and junior-anchor, inline and pad site space. Located in Pearland, The Center at Pearland Parkway includes tenants such as T.J. Maxx, Ross Dress for Less, Petco, Palais Royal, Five Below, Rack Room Shoes, rue21 and Salons by JC.
