Texas

Trammell Crow Co., Artis REIT Acquire 127 Acres in Metro Houston

by Haisten Willis April 8, 2015

MISSOURI CITY, TEXAS — Trammell Crow Co. and partner Artis REIT have acquired two land tracts totaling 127 acres in Missouri City. The partnership plans to develop a new, Class A industrial business park called Park 8Ninety, which will accommodate more than 1.7 million square feet of build-to-suit or speculative office/warehouse, distribution and manufacturing space. Construction on the first phase of Park 8Ninety, which will include three buildings totaling over 330,000 square feet of industrial space, is expected to begin in Summer 2015, with completion scheduled for Spring 2016. The property is located at the south corner of U.S. Highway 90A and Beltway 8 (Sam Houston Parkway), 20 miles southwest of downtown Houston. Barney Van Huss represented the seller, Ellis Management, which sold a 75-acre parcel. Ron Dagley of The Betz Cos. represented a local investment group, which sold an adjacent 52-acre parcel. Bo Pettit and Alexander Reilly of Boyd Commercial LLC/CORFAC International represented Trammell Crow Co. and Artis REIT in the acquisition.

April 8, 2015

McCarthy Breaks Ground on Houston METRO Harrisburg Overpass

by Haisten Willis April 8, 2015

HOUSTON — McCarthy Building Cos., and the Metropolitan Transit Authority of Harris County (METRO) have broken ground on the METRO Harrisburg Overpass project located in Houston’s East End. The project will be the final piece of METRO’s Green Line, which travels through downtown to the Magnolia Transit Center. The $27 million project will involve construction of a 2,400-linear-foot grade separation at the Houston Belt and Terminal (HBT) and Union Pacific Railroad (UPRR) railroad tracks located west of Hughes Road. It will include a bridge structure with aesthetic architectural features, two 16-foot wide vehicular traffic lanes, a 26-foot LRT guideway located in the center of the bridge structure, and two five-foot wide emergency walkways on each side of the bridge. The overpass is set to be complete in 12 months.

April 8, 2015

Office Texas

Behringer to Relocate to New Office in Metro Dallas

by Haisten Willis April 8, 2015

ADDISON, TEXAS — Behringer is relocating its corporate headquarters to Tollway Center, a 200,000-square-foot, six-story office building in Addison. The investment management firm, currently headquartered at One Addison Circle, has executed a 10-year lease for a new principal place of business located at 14300 Dallas Pkwy. The company expects the move to be completed by the third quarter of 2016. Jeff Staubach and Torrey Littlejohn of JLL represented Behringer, while JLL’s Jubal Smith and Matt Samler negotiated business and economic incentives. Tollway Center, which Cawley Partners is developing, will feature an open-air rooftop terrace, fitness center and indoor cafe. The project began in June 2014 when Cawley Partners identified six acres of land between Belt Line and Spring Valley Road on the west side of the Dallas North Tollway.

April 8, 2015

Retail Texas

Marcus & Millichap Arranges Sale of Two Properties in Metro Houston

by Haisten Willis April 8, 2015

SUGAR LAND AND SPRING, TEXAS — Marcus & Millichap has arranged the sale of two properties in metro Houston. In the first transaction, the firm arranged the sale of The Crossing at Telfair Commons, a shopping center in Sugar Land. Justin Miller and Derek Hargrove marketed the property on behalf of the seller, a local developer. Miller and Hargrove also secured the buyer, a limited liability company. The Crossing at Telfair Commons is located at 520 Highway 6. It is shadow-anchored by an HEB grocery store and adjacent to Chuy’s Mexican Food and Whataburger. In the second transaction, Marcus & Millichap arranged the sale of Ace Hardware, a 15,500-square-foot, net-leased property located in Spring. Jerry Goldstein and Kelley Workman of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Goldstein secured and represented the buyer, a partnership. Ace Hardware is located at 9001 Spring Cypress.

April 8, 2015

Retail Texas

Retail Property Sold for $4.7M in Houston

by Haisten Willis April 8, 2015

HOUSTON — The San Diego and Houston offices of Colliers International have arranged the sale of a 10,125-square-foot, single-tenant retail property located at 959 Bay Area Blvd. in Houston for $4.7 million. A CVS that has 11 years reaming on its 22-year lease occupies the property. Jon Busse and Charles Herder of Colliers International represented the seller, Burlingame Gulf LLC. David Wells of Wells Net Lease Group and JRW Realty represented the buyer, Exchange Right Real Estate LLC. The buyer is a tenant in common entity that specializes in the acquisition of single tenant, net-leased properties.

April 8, 2015

Office Texas

CBRE Arranges Sale of 1000 Main Office Tower in Houston

by Haisten Willis April 7, 2015

HOUSTON – CBRE has arranged the sale of 1000 Main, a Class A office tower located in the Houston Central Business District. The 36-story office tower includes 836,015 rentable square feet. Union Investment Real Estate purchased the asset, built in 2003, from Invesco Real Estate for an undisclosed price. Metzler Real Estate advised Union Investment, a European asset manager, in the transaction. CBRE’s Russell Ingrum, Bernard Branca and Jared Chua represented the seller. The property was awarded LEED Gold Certification from the U.S. Green Building Council in 2013. Gensler & Associates and Century Development Corp. designed and built the property.

April 7, 2015

Multifamily Seniors Housing Texas

Stroud Cos. Arranges Sale of Four Assisted Living Facilities in Texas

by Haisten Willis April 7, 2015

HOUSTON, AUSTIN AND ODESSA, TEXAS —Dallas-based Stroud Development and Stroud Investments have finalized the sale of four assisted living and memory care communities in the Houston, Odessa and Austin Markets to ROC Seniors. The sale, valued at more than $70 million, was financed using the HUD 232 debt program and has been a joint venture project with Orchard Park Senior Living. Development began in 2011. Bedford, Texas-based Arrive Architecture Group designed the Orchard Park communities. Each community serves 57 assisted living residents and includes a separate secured wing serving 40 Alzheimer’s and/or dementia care residents. The Orchard Park communities also feature landscaped courtyards, private dining amenities, special events venues, fitness and wellness areas, therapy rooms and a salon. Additional services include transportation, wellness programs, weekly linen and housekeeping services and assistance with activities of daily living.

April 7, 2015

Industrial Texas

Lee & Associates Arranges 73,986 SF Sale of Industrial Property in Metro Dallas

by Haisten Willis April 7, 2015

CARROLLTON, TEXAS — Lee & Associates arranged the sale of a 73,986-square-foot industrial building located at 1207 Crosby Road in Carrollton. Nathan Denton of the Dallas/Fort Worth office of Lee & Associates represented the buyer, 1207 Crosby Partners I LLC. Scott Moore with Holt Lunsford Commercial represented the seller, Thackery Partners.

April 7, 2015

Office Texas

Colvill Arranges 35,053 SF Office Lease Renewal in Dallas

by Haisten Willis April 7, 2015

DALLAS — Colvill Office Properties has arranged a 35,053-square-foot office lease renewal on behalf of Hines REIT to Greenberg Traurig at Chase Tower, a 1.3 million-square-foot, Class A tower in downtown Dallas. Blaine Hale and Cameron Colvill of Colvill Office Properties represented Hines in the lease negotiations. Phil Puckett, Jeff Ellerman and Harlan Davis of CBRE represented the tenant. Located at 2200 Ross Ave., Chase Tower is undergoing a capital improvement campaign, which will include the addition of a new fitness center, new executive lounge and boardroom, new main entry and sky lobby and updates to the parking garage.

April 7, 2015

Retail Texas

Coldwell Banker Commercial Brokers Sale of Shopping Center in Metro Austin

by Haisten Willis April 7, 2015

PFLUGERVILLE, TEXAS — The Net Leased Investment Group for Coldwell Banker Commercial has arranged the sale of Pflugerville West Shopping Center in Pflugerville. The 67,149-square-foot shopping center was 89 percent leased at the time of the sale. Parker Carroll of Coldwell Banker Commercial represented the seller, Retail Pflugerville Partners, in the transaction. The buyer was not named.

April 7, 2015

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