Texas

10100-Katy-Freeway-Memorial-City-MetroNational

MetroNational to Develop 240,000 SF Office Building in Houston

by Haisten Willis July 8, 2015

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.

July 8, 2015

Guy Arnold Named President of Hunt Real Estate

by Haisten Willis July 8, 2015

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 …

July 8, 2015

Loans Multifamily Texas

Berkadia Originates $29.8M Acquisition Loan for Multifamily Property in San Antonio

by Haisten Willis July 7, 2015

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.

July 7, 2015

Industrial Texas

HFF Arranges Sale of Industrial Facility in Houston

by Haisten Willis July 7, 2015

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.

July 7, 2015

Hospitality Texas

M&M Arranges Sale of 116-Room Hospitality Property in College Station

by Haisten Willis July 7, 2015

COLLEGE STATION, TEXAS — Marcus & Millichap has arranged the sale of Manor Inn College Station Aggieland, a 116-room hospitality property located at 2504 Texas Ave. S. in College Station. Rahul Bijlani, Eric Guerrero and Michael Yu of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. The buyer, a limited liability company, was also secured and sourced by Yu, Bijlani, Agrama Mannapperuma and Tyler Bean of the firm’s Houston office.

July 7, 2015

Multifamily Texas

ARA Newmark Negotiates Sale of Apartment Complex in Austin

by Haisten Willis July 7, 2015

AUSTIN, TEXAS — ARA, A Newmark Co. (ARA Newmark), has negotiated the sale of 40 Hyde Park, a 10-unit asset located in the North Campus/Hyde Park area of Austin. Andrew Shih and James Young of ARA Newmark’s Austin office represented the seller, Artesia. The undisclosed buyer was a private investor also from Austin. Constructed in 1972, 40 Hyde Park is a garden-style apartment community comprising 10 efficiency units. The community is situated on an infill lot in the Historic Hyde Park District, Austin’s oldest neighborhood. Unit amenities for 40 Hyde Park include new gas stoves and countertops, upgraded light fixtures and two-inch faux wood blinds, as well as accent walls. The property is located within minutes of the University of Texas, Austin’s central business district and the Hancock golf course.

July 7, 2015

Retail Texas

Valvoline Franchisee Buys Foreclosed Property in Metro Dallas

by Haisten Willis July 7, 2015

SAGINAW, TEXAS — Frost Bank has sold a foreclosed retail property in Saginaw to TL2 Industries LLC, a franchisee of five Valvoline Instant Oil Change locations in the Metroplex. The property, located at 701 N. Saginaw Blvd., was formerly Zippy Lube. The 4,150-square-foot structure features a 1,600-square-foot basement oil changing pit, state inspection space and in-bay carwash. Built in 2004, the commercial building occupies about half of the one-acre tract, allowing room for expansion or ground-up development. The property is located two miles north of Loop 820 and fronts U.S. 287, a commercial corridor traveled by an estimated 31,000 vehicles per day. The land behind the property is built out with multifamily and single-family communities. Wayne Burgdorf of Coldwell Banker Commercial Alliance DFW was the deal’s sole broker.

July 7, 2015

Office Texas

Miyama USA Texas, Pillar Plan New Office Showroom Project in Dallas

by Haisten Willis July 6, 2015

DALLAS — Miyama USA Texas and Pillar Commercial are teaming up on a proposed new office showroom/distribution project in Dallas. The 250,000-square-foot, two-building complex, SOHCO (previously known as Cornerstone Business Park), is owned by the Miyama family. Both existing facilities (9761 and 9755 Clifford Drive) are 100 percent leased and situated directly off I-35 just south of Spur 482, located between Love Field and DFW airports. The property includes an eight-acre site on which the development team is planning to build a third phase that will contain approximately 115,000 square feet with up to 30 dock-high doors. The Miyama family has owned SOHCO since 2006, and Pillar Commercial has worked with the Miyamas since 2007. A new jogging trail, clubhouse and upgrades to Phase I and Phase II are also being contemplated as part of the overall master plan.

July 6, 2015

Retail Texas

NAI Wheeler, NAI Partners Arrange Sale of 12 Acres in Beaumont

by Haisten Willis July 6, 2015

BEAUMONT, TEXAS — NAI Wheeler, in conjunction with NAI Partners, represented Mustang Cat in the purchase of 12 acres located in Beaumont. Mustang Cat, an authorized Caterpillar dealer in Southeast Texas, is experienced in heavy construction machinery, compact construction equipment, power systems, on-highway trucks and equipment rental and support services in the industrial equipment industry. Lee Wheeler and Erica Goss of NAI Wheeler, along with Dan Boyles of NAI Partners, represented Mustang Cat during negotiations.

July 6, 2015

Industrial Texas

CBRE Renews Two Logistics Tenants at Renovated El Paso Industrial Centers

by Haisten Willis July 6, 2015

EL PASO, TEXAS — CBRE has arranged two long-term lease renewals for logistics tenants in El Paso. The buildings are part of a larger industrial portfolio purchased by Phoenix-based ViaWest Group earlier this year. Foreign trade and door-to-door logistics services firm Jichasa renewed a 20,000-square-foot lease at 7189 Merchant Ave., with plans for future expansion. The El Paso operations support a powdered milk supplier in Chihuahua, Mexico. Third party logistics provider Superior Transport & Logistics Inc. also renewed a 20,000-square-foot lease at 7157 Merchant Ave. Since acquiring the four-building, 245,745-square-foot portfolio in March, ViaWest Group has installed new roofing, resurfaced the parking lots and updated the exterior paint. Additional renovations are planned for the future. The portfolio is 58 percent occupied. Arturo De la Mora with CBRE’s El Paso office represented the landlord in lease negotiations.

July 6, 2015

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