LEAGUE CITY, TEXAS — Marcus & Millichap has arranged the sale of Laurel Bay Center, a 22,286-square-foot retail property located in League City. Nik Kapetanakis, Gus Lagos and Keith Lloyd of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a bank/financial institution. Laurel Bay Center is located at 2660 Marina Bay Drive.
ROUND ROCK, TEXAS — CBRE has arranged the sale of five freestanding tilt-wall industrial buildings in the Forest Commons Business Park at 3912 – 3920 Gattis School Road in Round Rock. Long View Equity Partners, an Austin-based real estate investment firm, acquired the assets from HOWMAT Development LP. Totaling 160,830 square feet, the buildings were designed and built by HOWMAT’s parent company, Central Texas Tiltwall LP, an Austin-based design-build firm. Long View expects the transaction to be immediately accretive for its third co-mingled investment fund. The facilities are 100 percent leased to a variety of industrial and flex office tenants. Long View plans to hold the property long-term. Greg Marberry of CBRE represented the seller in the transaction.
DALLAS — Four new retailers are joining Village on the Parkway, a 357,731-square-foot retail center situated on 31 acres in Dallas, and will open their doors at the property over the next few months. Vestar, a privately held real estate company, currently handles property management, leasing and marketing at the center. Leasing for this project is done in partnership with Venture Commercial brokers Easley Waggoner and Tim Henson. The new retailers include: Soma, a women’s intimate apparel boutique which will occupy 2,549 square feet; Francesca’s, a women’s clothing and accessory store which will occupy 1,400 square feet; Chico’s, offering branded clothing and accessories for women which will occupy 3,453 square feet; Beauty Brands, a salon and spa superstore which will occupy 6,844 square feet. With these four tenants, Village on the Parkway is now 92 percent leased. Additional major tenants include Whole Foods Market, AMC Theatres, Ra Sushi, Gloria’s Latin Cuisine, Yard House, AT&T and 24 Hour Fitness.
DALLAS — Champion Partners has rebranded 3500 Maple, an 18-story office building in Dallas, as Parkside Tower at 3500 Maple. Along with the name change, the tower has undergone a renovation focused on health, wellness and convenience to better accommodate the professional class in the Uptown market. Champion, a Dallas-based commercial real estate investment and development firm, will work with Gensler and Building & Land Technology on the renovation. The redevelopment of the 376,000-square-foot building will include transformed entry elements and a new lobby, a new outdoor plaza and courtyard area, new common lounge and seating areas off the building lobby with WiFi connectivity, a fitness center, café and new front door drop-off area along Maple Avenue. Other amenities will include wood furnishings and green technology. Located in Uptown, the building will offer a full-service experience on health, wellness and convenience with easy access to the Katy Trail.
CARROLLTON, TEXAS — Marcus & Millichap has arranged the sale of Frankford Point Plaza, a 31,686-square-foot retail property located in Carrollton. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a developer. Chad Knibbe of the firm’s San Antonio office secured the buyer, a private investor. Frankford Point Plaza is located at 1837 W. Frankford Road. The center is 94 percent occupied, and all leases are triple-net. Tenants include Villa Mediterranean Grill, Carrollton PMT Center, Corporate Caterers, Allstate Insurance, Two Men Music, US Healthworks, The Daiquiri Shoppe, Big Slick Poker Academy and Renegade Classics DFW. The building was constructed in 2002 and sits on 4.3 acres.
DALLAS — Gaedeke Group LLC has begun construction on the 327,856-square-foot One Legacy West, a speculative five-star office building beside the future headquarters campuses of Toyota Motor North American and FedEx Office & Print Services Inc. The 11-acre development site is located at the southeast corner of Sam Rayburn Tollway and Legacy Drive. The office building will be part of the $2 billion Legacy West, a 240-acre urban mixed-use development that is spearheaded by Karahan Cos., KDC and Columbus Realty Partners. One Legacy West and its attached six-level parking structure will be completed in the fourth quarter of 2016. Designed for LEED Gold certification, the project will be the first multi-tenant office space to deliver in Legacy West. Mark Dilworth, principal of Dallas-based Morrison Dilworth + Walls, designed One Legacy West. Austin Commercial is the general contractor and Andres Construction is the construction manager.
HOUSTON — Houston-based MetroNational plans to begin developing a 240,000-square-foot office building located in Houston’s Memorial City district. The development will be situated on MetroNational’s 18-acre tract located at the northwest corner of Gessner Road and the Katy Freeway, directly across from the Memorial Hermann Tower. CEMEX’s U.S. headquarters will anchor the six-floor, LEED-certified building at 10100 Katy Freeway. MetroNational, a privately held real estate investment, development and management company, began assembling the tract in 1961. CEMEX has had offices in Memorial City since 2005 and will now occupy approximately 80,000 square feet on the new building’s second and third levels. Each level features 40,000-square-foot floor plates. The building’s first floor will include approximately 15,000 square feet dedicated to retail, and the top three floors are available for pre-leasing. Building amenities will include 24-hour security, card key access and connectivity to Memorial City conveniences via a shuttle service. Powers Brown Architecture is the architect of record, and Anslow Bryant Construction is the general contractor for the project. Sue Rogers and Steven Heal of Cresa represented CEMEX, and MetroNational represented itself in the transaction. The project is due to break ground this fall, and completion is projected for fall 2016.
EL PASO, TEXAS — Guy Arnold has been named president of Hunt Real Estate. In this role, Arnold will be responsible for managing all aspects of Hunt’s real estate equity investment portfolio, including acquisitions and dispositions of real assets. Arnold has more than 25 years of real estate experience. In 2013, he founded GMA Holdings, a commercial real estate investment firm in Denver. Prior to that, Arnold served as president of Denver-based Dividend Capital Diversified Property Fund, where he led all functions of the $2.9 billion REIT, including property acquisitions, dispositions, asset management, finance, reporting, human resources and investor relations. Arnold also held the position of managing director at Cherokee Investment Partners and vice president at Colorado & Santa Fe Land Co. Arnold is a member of the Board of Directors of the Meridian Fund Inc., a family of mutual funds; a member of the Board of Directors for The Children’s Hospital of Colorado Finance Committee; chairman of the Trusts and Endowments Committee for the Episcopal Diocese of Colorado; and a former member of the Board of Directors of Steele Street Bank & Trust, a $550 million Denver community bank that recently sold to MidFirst Bank. Arnold earned a Bachelor …
SAN ANTONIO — Berkadia has originated a $29.8 million loan for the acquisition of Grand Estates at TPC, a multifamily property located at 5707 TPC Parkway in San Antonio. Jeff Robbins and Matt Ewig of Berkadia’s Chicago office secured the 10-year loan through Fannie Mae. Robbins and Ewig arranged the loan, which includes seven years of interest-only payments, on behalf of the borrowers, Wood Partners, Silverpeak Capital and W. P. Carey Inc. Grand Estates at TPC features 408 units and is 94 percent occupied. Community amenities include a pool, game room and fitness center. The property is situated near U.S. Highway 281, which provides access to downtown San Antonio, approximately 22 miles south.
HOUSTON — HFF has arranged the sale of 8451 Market St., a 120,810-square-foot industrial facility in Houston. HFF marketed the asset on behalf of the seller, Mayfield Properties LP. ATCAP Partners purchased the asset for an undisclosed amount and was assisted by HFF in arranging acquisition financing. The property is situated on five acres near the intersection of I-10 East and Loop 610 adjacent to the Budweiser beer plant and the Houston Ship Channel, six miles east of Houston’s central business district. The property features 24-foot ceiling heights and a 7.8 percent office build-out. Tenants at the fully leased facility include Santini Export Packaging Corp., who has been in continuous occupancy since the early 1980s, as well as Area Wholesale Tire and Interglobal Plastics. Rusty Tamlyn, Trent Agnew and John Rogers led the HFF investment sales team representing the seller. Brian Carlton led HFF’s debt placement team.
