Texas

Greysteel Arranges Sale of Apartment Complex in Metro Dallas

by Haisten Willis April 6, 2015

EULESS, TEXAS — The Greysteel Co., a Washington, D.C.-based real estate investment services firm, has arranged the sale of Royal Terrace, a 120-unit apartment community located at 306 Martha St. in Euless. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel represented the Copperstream Investments LLC in the sale of Royal Terrace to the buyer, Amar Patel. Royal Terrace offers access to both Dallas and Fort Worth via Highway 183 (Airport Freeway) and Highway 360. The property has undergone recent improvements including new electrical room panels and wiring, new shingle mansards and exterior paint.

April 6, 2015

Construction Begins on New EECU Credit Union Location in Metro Dallas

by Haisten Willis April 6, 2015

FORT WORTH, TEXAS — Construction has begun on EECU Credit Union’s 14th location in metro Dallas, which will be known as the Heritage Trace branch. Plans call for the 2,800-square-foot building, which will be smaller than other EECU branches, to use new technologies to make the most of the space. The facility will include video conferencing stations for members to chat with specialists as well as a self-service bar where members can complete simple transactions on tablets. The Hillwood development will be located in Alliance Town Center. The credit union expects to complete construction on the branch in August, and will follow with a grand opening. The branch will feature drive-thru banking, an ATM and night depository.

April 6, 2015

Industrial Texas

Stitch Fix to Open Distribution Center in Dallas

by Haisten Willis April 6, 2015

DALLAS — Stitch Fix, an online personal styling service for women, is set to open its third distribution center, which will be located in Dallas. The new distribution center, on Cockrell Hill Road, will open in June 2015 and will help the company serve clients in Texas and the southern United States. Stitch Fix, which is headquartered in San Francisco and also has an office in Austin, employs more than 200 stylists in the Dallas region. The company plans to hire 400 to 500 employees for the 316,000-square-foot facility, with plans to continue to grow the team in 2016. Hugh Scott and Kurt Griffin of JLL represented Stitch Fix in its search for a Dallas distribution hub.

April 6, 2015

Retail Texas

M&M Arranges Sale of 20,000 SF Retail Property in Austin

by Haisten Willis April 6, 2015

AUSTIN, TEXAS —Marcus & Millichap has arranged the sale of Star Center, a 20,000-square-foot retail property located in Austin. Michael Buckner and Richard Mireles, investment specialists in Marcus & Millichap’s Austin office, marketed the property on behalf of the seller, a partnership. Buckner and Mireles also secured the buyer, The Blood & Tissue Center of Central Texas. Star Center is located at 3110 W. Slaughter Lane.

April 6, 2015

Retail Texas

Kite Realty Group Trust Acquires Shopping Center in Metro Dallas

by Haisten Willis April 3, 2015

COLLEYVILLE, TEXAS — Kite Realty Group Trust has acquired Colleyville Downs, a 201,000-square-foot shopping center located in Colleyville. The center is 92 percent leased and anchored by three national anchor tenants including Petco, Ace Hardware and Whole Foods Market. Colleyville Downs is located at the southeast corner of Highway 26 and Glade Road. The shopping center is situated in a densely populated market with an estimated population of 80,000 and an average household income of $127,000 within a three-mile radius.

April 3, 2015

Retail Texas

GBT Realty Acquires Retail Development in Metro Austin

by Haisten Willis April 3, 2015

CEDAR PARK, TEXAS — GBT Realty Corp., a retail development company, has acquired a retail site in the Austin suburb of Cedar Park. Lakeline Commons is a 1.4-acre site shadow-anchored by Target. The property is adjacent to The Home Depot. GBT acquired the outparcel for $1.6 million from Regions Bank. The $4.5 million retail development is fully leased and is expected to open this fall. AT&T, Blaze Pizza and Potbelly Sandwich Shop will occupy the almost 10,000-square foot building adding restaurant and service amenities along the corridor in the north Austin community.

April 3, 2015

Industrial Texas

CenterPoint Properties Purchases 27-Building Portfolio Acquisition in Houston

by Haisten Willis April 3, 2015

HOUSTON — CenterPoint Properties has acquired a 27-building portfolio in Houston. The properties are located within nine business parks and total 3.6 million square feet. Jud Clements, Rusty Tamlyn, Trent Agnew and Robby Rieke of HFF facilitated the transaction between CenterPoint and the unnamed seller. The majority of the facilities acquired are situated east of the Houston Central Business District. The buildings offer access to shipping channels including the Union Pacific (UP) Settegast, UP Englewood and Burlington Northern Santa Fe Mykawa yards, the Port of Houston, and a petrochemical refining complex.

April 3, 2015

Office Texas

KBS Strategic Opportunity REIT Signs 11,809 SF Lease  in Metro Houston

by Haisten Willis April 3, 2015

BELLAIRE, TEXAS — California-based KBS Strategic Opportunity REIT has signed an 11,809-square-foot lease at 6575 W. Loop S. in Bellaire, which is three miles west of Houston’s central business district. The new tenant is Regus, a provider of flexible workspace operating in more than 2,000 locations worldwide. The company is a provider of executive suites, office space, virtual offices and conference rooms. The leased space is located at an office complex known as West Loop I and II. The multitenant, 5.6-acre, 313,873-square-foot property includes two buildings and an eight-story parking garage. West Loop I is an eight-story building that includes 169,536 rentable square feet, while West Loop II offers 144,337 rentable square feet in seven stories. The property is located near several residential communities, including Bellaire and West University.

April 3, 2015

Retail Texas

New Whole Foods Market to Open in Houston

by Haisten Willis April 3, 2015

HOUSTON — A Whole Foods Market is set to open April 8 at 1407 S. Voss Road in Houston. The new store will replace a current market located at 6401 Woodway and will double the store footprint serving the immediate area. Arch-Con Construction was the general contractor for the site and for the new 46,532-square-foot Whole Foods shell built on the former Randalls site. The store will be the anchor tenant for developer Regency Center’s existing Woodway Collection retail center. The building also includes 4,000 square feet of small shop space attached to the Whole Foods. Langford Market and Lilly Rain are the small shop tenants. Store features include a high-roof entry with glass and aluminum shutters, stone and IPE wood siding and an outdoor beer garden and music area. It is Arch-Con’s second Whole Foods Market.

April 3, 2015

5-Below-BBB-World-Market-in-Phase-II-Central-TX-Marketplace

Market Reports Retail Texas Texas Market Reports

Waco’s Retail Marches Down I-35, and Texas Takes Notice

by Haisten Willis April 3, 2015

In stark contrast to past years when motorists would fly through Waco on I-35 wondering if anything was happening in this town, the dramatic Twin Signature Bridges across the Brazos River now sit majestically with the backdrop of Baylor University’s brand-new, $325 million McLane Stadium. However, it has become abundantly clear that the stadium is not the only big thing happening in Waco. Anyone who has driven the stretch of I-35 that passes through Waco in the past 24 months has undoubtedly noticed quite a bit of new construction, demolition and site clearing for even more commercial construction. Leading the way is the dramatic increase of national restaurants and retailers that have made their presence known to everyone who used to drive right through, but who now stop, eat and shop in Waco. A primary catalyst of this rise in retail activity has been the release of property along I-35 formerly owned by the Waco Independent School District (ISD). “We witnessed a surge in demand for retail sites along the I-35 Corridor in 2013,” says Jim Peevey, CCIM, a local broker with Central Texas Commercial. “My partner, Andy Sheehy, and I represented Waco ISD in selling three surplus properties on …

April 3, 2015

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