Texas

M&M Arranges Sale of 6,165 SF Net-Leased Property in Corpus Christi

by Haisten Willis May 15, 2015

CORPUS CHRISTI, TEXAS — Marcus & Millichap has arranged the sale of Logan’s Roadhouse, a 6,165-square-foot net-leased property located in Corpus Christi. Jason Vitorino, Adam Gottschalk and Jared Aubrey of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Vitorino, Gottschalk and Aubrey also procured the buyer, a local private investor. Logan’s Roadhouse is located at 5057 S. Padre Island Drive in Corpus Christi, adjacent to Highway 358. Built in 2007, the asset is a pad site to Academy Sports+ Outdoors, Walmart and Home Depot. At the time of listing, Logan’s Roadhouse had 13 years remaining of its original 20-year net lease.

May 15, 2015

Loans Multifamily Seniors Housing Texas

KeyBank Provides $21.3M Loan for Assisted Living Community in Metro Houston

by Haisten Willis May 15, 2015

BAYTOWN, TEXAS — KeyBank Real Estate Capital has secured a $21.3 million life insurance loan for Remington Park Baytown, an assisted living and memory care community located in Baytown. Monique Bimler of KeyBank’s Healthcare Mortgage Group arranged the 10-year, fixed-rate loan on behalf of Capital Senior Living, which was used to acquire the property. Capital Senior Living Corp. is a operator of residential communities for senior adults. The company operates 115 senior living communities with an aggregate capacity of approximately 15,000 residents.

May 15, 2015

Industrial Market Reports Texas Texas Market Reports

World’s Third Busiest Airport Drives Growth, Economic Development in Texas

by Haisten Willis May 15, 2015

Texas has been a beacon of light during our country’s recent bout of recession. No doubt, this has to do with our business-friendly regulations and the physical space and capacity for business growth. Our economy is growing stronger every day. This past March, the United States Bureau of Labor and Statistics (BLS) released the latest employment numbers, and Regional Commissioner Stanley W. Suchman pointed out that the Dallas/Fort Worth (DFW) area ranked first in the rate of job growth and third in the number of jobs added among the country’s largest metropolitan areas. DFW’s largest growth last year was in the professional and business services sector, as 33,000 jobs were added. Other growth sectors included trade, transportation and utilities (30,500 jobs), education and health services (19,200 jobs), and leisure and hospitality (17,300 jobs). It is hard to open the business section of the morning paper anymore without seeing news of a company relocating to the DFW Metroplex, bringing along the promise of thousands of jobs. As a result, commercial real estate is booming in north Texas. Dallas/Fort Worth International Airport is an important force behind Texas’ growth and a contributor to one of the nation’s most prosperous and vital economies. …

May 15, 2015

Multifamily Texas

Allied Orion Group Breaks Ground on Beacon At Buffalo Pointe in Houston

by Haisten Willis May 14, 2015

HOUSTON — Allied Orion Group has broken ground on The Beacon at Buffalo Pointe, a 281-unit apartment complex in Houston. Scheduled to open during the first quarter of 2016, The Beacon at Buffalo Pointe will be located near the Texas Medical Center. Developed by Allied Orion Group and designed by Steinberg Design Collaborative Architects, The Beacon at Buffalo Pointe is located at 10301 Buffalo Speedway. Situated just outside of Loop 610, the community offers access to both 610 and Highway 288 and a short commute to downtown Houston. Floor plans will range from one to three bedrooms.

May 14, 2015

Hospitality Texas

Strategic Hotels & Resorts Buys Four Seasons Austin Hotel

by Haisten Willis May 14, 2015

AUSTIN, TEXAS — Strategic Hotels & Resorts has purchased the Four Seasons Austin hotel for $197 million. The 291-room hotel is located on 2.3 acres overlooking Lady Bird Lake in the midst of the Central Business District of Austin. The hotel features 28 suites, 18,000 square feet of indoor meeting space, two food and beverage outlets and a 5,500-square-foot spa. Strategic Hotels & Resorts Inc. is a real estate investment trust that owns and provides value-enhancing asset management of high-end hotels and resorts in the United States and Europe. The company has ownership interests in 19 properties with a total of 8,616 rooms and 893,000 square feet of multi-purpose meeting and banqueting space.

May 14, 2015

Mixed-Use Texas

Victory Real Estate Group Acquires 18.5-Acre Mixed-Use Tract in Fort Worth

by Haisten Willis May 14, 2015

FORT WORTH, TEXAS — Victory Real Estate Group, a commercial development and investment firm based in Dallas, has acquired an 18.5-acre tract of land at the corner of Eastchase and I-30. Located in Fort Worth, Victory at Eastchase will be a mixed-use retail development featuring six-pad sites, which will include two hotels, one big box retailer and up to 50,000 square feet of additional retail space. Construction will begin in the near future on Victory at Eastchase with completion expected by the end of 2016.

May 14, 2015

Texas

Henry S. Miller Brokers Sale of 174.56 Acres in Metro Dallas

by Haisten Willis May 14, 2015

FORT WORTH, TEXAS — Bill Bledsoe of Henry S. Miller Brokerage’s Investments and Land Division has brokered a 174.6-acre land transaction in Fort Worth. Chief Resources LP sold the land, located at 10390 Hicks Field Road off Business 287, to Hicks Field Ltd., a local development partnership. Robert Grunnah of Novus Realty Advisors co-listed the property.

May 14, 2015

Retail Texas

M&M Arranges Sale of 37,909 SF Retail Property in Texarkana

by Haisten Willis May 14, 2015

TEXARKANA, TEXAS — Marcus & Millichap has arranged sale of a Save-A-Lot grocery retail center, a 37,909-square-foot property in Texarkana. Jason Vitorino and Michael Austry of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a partnership. The shopping center is located at 2808 New Boston Road, less than two miles from I-369. Built in 2005, the asset is situated on approximately four acres in Bowie County. The shopping center was 70 percent occupied at the time of sale.

May 14, 2015

Retail Texas

Inland Purchases Green Tree Shopping Center in Metro Houston

by Haisten Willis May 13, 2015

KATY, TEXAS — Inland Real Estate Income Trust Inc. has acquired the 147,658-square-foot Green Tree Shopping Center in Katy. Sharon Anderson-Cox and Matthew Tice of Inland Real Estate Acquisitions arranged the purchase of the property on behalf of Inland Income Trust. Located at 231 S. Fry Road, Green Tree Shopping Center is 99.1 percent leased to tenants including T.J. Maxx, PetSmart, Ulta and Party City. The property is shadow-anchored by a Target.

May 13, 2015

Retail Texas

Japan-Based Daiso Opens First Texas Location in Metro Dallas

by Haisten Willis May 13, 2015

CARROLLTON, TEXAS — Japan-based Daiso will open at NewQuest Properties’ development of Carrollton Town Center. The 11,000-square-foot location will be Daiso’s first store in Texas and will carry dining, kitchen, living, bath and stationery merchandise, 99 percent of which is developed in-house. Daiso operates 3,300 stores worldwide with a total of 44 stores in the United States, and plans to open 20 stores throughout Texas. The Carrollton store is scheduled to open this summer. Carrollton Town Center is located at the intersection of President George Bush Turnpike and Old Denton Road. Carrollton Town Center is undergoing a $7 million facelift and will be anchored by a new 99 Ranch Market. The development will feature Asian restaurants and retailers such as Gen Korean, Kung Fu Tea and Dan Sung Sa.

May 13, 2015

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