Texas

M&M Arranges Sale of 6,450 SF Property in Rio Grande Valley

by Haisten Willis January 14, 2015

BROWNSVILLE, TEXAS — Marcus & Millichap has arranged the sale of United Rentals, a 6,450-square-foot net-leased property located in Brownsville. Geoff Ficke and Chris Adams of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a developer. Dominic Sulo and Matthew Wenger of the firm’s Chicago Oak Brook office procured the buyer, a private investor. United Rentals is located at the intersection of Old Port Isabel Road and East Ruben M. Torres Sr. Boulevard. Built in 2009, the property is situated on 1.9 acres and was originally occupied by RSC Equipment Rental. United Rentals assumed the property after the company’s acquisition of RSC in 2012. Founded in 1997, United Rentals operates more than 880 rental locations in 49 states and 10 Canadian provinces.

January 14, 2015

Lee & Associates Negotiates 101,500 SF Industrial Lease in Metro Dallas

by Haisten Willis January 14, 2015

IRVING, TEXAS — Lee & Associates has negotiated the lease of a 101,500 square-foot industrial building located at 1800 Hurd Drive in Irving. Nathan Denton of Lee & Associates represented the buyer, Alliance Glass & Metal. John Fulton and Brett Owens with Transwestern Commercial Services represented the seller, Thanestate Investments.

January 14, 2015

Mixed-Use Texas

Caldwell Cos. Breaks Ground on Mixed-Use Project in Metro Houston

by Haisten Willis January 13, 2015

CYPRESS, TEXAS — Construction has begun on a mixed-use development located in Cypress known as The Boardwalk. The Caldwell Cos. is developing the property, which will sit at the front of the company’s master-planned community of Towne Lake. The development is centered around what will be the largest private lake in the region. When completed, The Boardwalk will feature waterfront dining, 61,000 square feet of retail and 57,500 square feet of office space accessible by both land and water. The development is set to open in the fourth quarter of 2015. In addition to office, shops and restaurants, The Boardwalk consists of five freestanding buildings, a central green area for concerts and events, a breezeway plaza and a boulder play area for kids. The project is located off of Highway 290 and Barker Cypress Road.

January 13, 2015

Industrial Multifamily Texas

BMC Capital Provides Loans for Multifamily, Industrial Properties in Metro Houston

by Haisten Willis January 13, 2015

HOUSTON and LAKE JACKSON, TEXAS — BMC Capital’s Dallas office has arranged loans for three properties in metro Houston. The first is a $20 million cash-out refinancing loan for two apartment properties located in Lake Jackson. The five-year loan featured an 80 percent loan-to-value ratio, a 5 percent interest rate and a 30-year amortization schedule. The second is a $4.8 million refinancing loan for an apartment complex in Houston. The 10-year, non-recourse loan included a 65 percent loan-to-value ratio, a 4.4 percent interest rate and a 30-year amortization schedule. The third loan is an $8.9 million refinancing loan for an industrial property in Houston. The 10-year loan included a 75 percent loan-to-value ratio, a 10-year fixed rate of 5.2 percent and a 30-year amortization schedule. Keith Van Arsdale of BMC arranged all three loans. Each loan was arranged through one of BMC’s correspondent banking relationships.

January 13, 2015

Office Texas

CBRE Arranges $13.7M in Financing for Office Property in Metro Dallas

by Haisten Willis January 13, 2015

IRVING, TEXAS — CBRE Capital Markets’ debt and structured finance group has arranged financing for Regent Center I and II in Irving. CBRE worked on behalf of Founders Properties LLC to obtain a $13.7 million non-recourse loan. The seven-year, fixed-rate loan was secured through Woodmen of the World Insurance Society. The Regent Center Portfolio consists of two office buildings totaling 150,625 square feet that are 100 percent leased by tenants including Devry University, Pulte Group, Staples Inc. and Aramark Educational Services Inc. The Regent Center buildings are situated less than a mile west of I-625 and two miles north of US Highway 114. Greg Greene, Scott Lewis and Matt Ballard of CBRE’s Dallas debt and finance group originated and secured financing on behalf of the borrower.

January 13, 2015

Multifamily Texas

IPA Brokers Sale of Mid-Rise Apartment Complex in San Antonio

by Haisten Willis January 13, 2015

SAN ANTONIO — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of 1800 Broadway, a 230-unit apartment building located north of downtown San Antonio in the city’s Lower Broadway Corridor. Will Balthrope and Drew Kile of IPA represented the developer, Criterion Property Co. LP, and its equity partner, Cypress Real Estate Advisors. Greystar Real Estate Partners managed the property. Churchill Forge Properties is the buyer. 1800 Broadway is located on the corner of Broadway and Grayson streets directly across from the Pearl Brewery development. Completed in 2013, 1800 Broadway is a four-story, 206,389-square-foot mid-rise development with 230 upscale units and 29 floor plans. Amenities include granite countertops, stainless steel appliances, pendant lighting, a full-size washer and dryer, two-inch blinds and nine- and 11-foot ceilings. Community amenities include a pool, fitness center, two interior courtyards and an indoor/outdoor multimedia space.

January 13, 2015

Office Texas

NAI Negotiates Sale of Office Property in Houston

by Haisten Willis January 13, 2015

HOUSTON — NAI Partners has negotiated the sale of the an office property located at 4201 FM 1960 West known as One Northchase Park near Torrey Chase Boulevard. Jaguar Investors Ltd. was the seller of the glass-clad, six-story, multi-tenant office property totaling 85,213 square feet. Doug Pack of NAI Partners facilitated the transaction. The buyer was not named.

January 13, 2015

Retail Texas

Construction Completed on BMW Dealership in Fort Worth

by Haisten Willis January 12, 2015

FORT WORTH, TEXAS — Speed Fab-Crete has completed a 26,250-square-foot BMW dealership in Fort Worth. The property is located at 2828 White Settlement Road. The dealership consists of a rooftop parking structure, sky bridge and a 43-foot-tall clock tower. The parking structure was built using fabricated structural steel and concrete and is located on the roof of the existing Autobahn BMW new car showroom and service facility. It is linked to the adjacent Autobahn BMW Pre-Owned facility’s rooftop parking space by the sky bridge. Since 1996, Speed Fab-Crete has completed more than 300,000 square feet of new construction and renovation projects for Autobahn Motor Group. Fort Worth-based architectural firm Callahan & Freeman designed the clock tower. The project team also included Hurst, Texas-based Metro Structural Consultants Inc., Grand Prairie, Texas-based Pavecon, Granbury, Texas-based Rockin S Construction Co. Inc., Fort Worth-based Williams Electric and Everman, and Texas-based Williams Air Conditioning & Heating Inc.

January 12, 2015

Signorelli-Company-The-Shops-at-Aspen-Creek

Mixed-Use Texas

Signorelli Co. Sells Land for Mixed-Use Development in Metro Tulsa to Griffin Properties

by Haisten Willis January 12, 2015

BROKEN ARROW, OKLA. — The Signorelli Co. has sold a 12.2-acre site for a mixed-use development known as The Shops at Aspen Creek to Griffin Properties of Fort Smith, Ark. The Shops at Aspen Creek is planned to include more than 1 million square feet of shopping, dining and entertainment options. The site is located 12 minutes from downtown Tulsa in Broken Arrow. Construction of the 277-unit apartment complex, named The Reserve at Aspen Creek, is planned to begin in June, with the opening anticipated in mid-2016. Situated at the east end of The Shops at Aspen Creek, with entrances from West Tucson Street and West Aspen Creek Drive, the complex will be three stories tall. Trinity Multifamily, the operating partner of Griffin Properties, will manage the apartments. The entertainment anchor at The Shops at Aspen Creek includes the Warren Theatre, a new 18-screen movie theatre boasting a screen 100 feet wide and 50 feet tall. The theatre opened in December.

January 12, 2015

Multifamily Texas

HLC Equity Purchases 154-Unit Apartment Complex in Metro Dallas

by Haisten Willis January 12, 2015

GRAND PRAIRIE, TEXAS — HLC Equity has purchased Windscape Apartments, a 154-unit, Class-B, garden-style apartment complex in Grand Prairie. Mosaic Realty Partners will co-manage the property along with an HLC Equity affiliate. Windscape is less than a 30-minute drive from both Dallas and Fort Worth. The property is located near several major highways and mass transit options. It also includes access to Globe Life Park, AT&T Stadium and a Six Flags Over Texas. Amenities at the property include a clubhouse, 24-hour fitness center, swimming pool, Jacuzzi, waterfall and a barbecue/picnic area.

January 12, 2015

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