Texas

Marcus & Millichap Arranges Sale of Net-Leased Property in Metro Austin

by Haisten Willis January 30, 2015

ROUND ROCK, TEXAS — Marcus & Millichap has arranged the sale of Christian Brothers Automotive, a 4,945-square-foot, net-leased property located in Round Rock. Jason Vitorino of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Robb Johnson of the firm’s San Diego office procured the buyer, an out-of-state private investor. The transaction was part of a 1031 exchange. The buyer sold a manufactured home community asset on the West Coast and acquired three single-tenant, long-term, net-leased properties. Chad O’Connor of Marcus & Millichap Capital Corporation’s San Diego office arranged financing. Christian Brothers Automotive is located at 413 Louis Henna Blvd., just southeast of the I-35 and State Highway 45 interchange.

January 30, 2015

Greysteel Arranges Sale of Apartment Complex in Dallas

by Haisten Willis January 29, 2015

DALLAS — The Greysteel Co. has arranged the sale of Las Brisas, a 244-unit apartment complex in Dallas. The property is located at 9911 Whitehurst Drive. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel’s multifamily investment sales team arranged the transaction on behalf of the seller, Exponential Property Group 1 LLC, and the buyer, Whitehurst 9911 Partners LLC.

January 29, 2015

Retail Texas

M&M Arranges Sale of 3,722 SF Retail Property in Fort Worth

by Haisten Willis January 29, 2015

FORT WORTH — Marcus & Millichap has arranged the sale of Pollo Tropical, a 3,722-square-foot net-leased property located in Fort Worth. Jason Vitorino and Jared Aubrey of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Another agent based in the firm’s San Diego office procured the buyer, a private investor. Pollo Tropical is located at 8900 Tehama Ridge Pkwy., off I-35 West and North Tarrant Parkway. Built in 2014, the asset has 20-year ground lease on a pad site in front of Costco Wholesale.

January 29, 2015

Mixed-Use Texas

New Mixed-Use Development Opens in Metro Dallas

by Haisten Willis January 29, 2015

PLANO, TEXAS — Junction 15, a mixed-use development in Plano, is now open. Junction 15 is a five-story development with 279 units in studio, one-, two- and three-bedroom layout. Amenities include walk-in utility rooms in select units, hardwood-like flooring and chef-inspired kitchens great for entertaining. The apartments sit above 8,000 square feet of retail space anchored by a 7-Eleven convenience store. Other retailers include Paws Dog Barkery, The Day Spa, Amazeballz and Sweet as Sugar Children’s Boutique. Plano Mayor Harry LaRosiliere and other Plano city officials joined developer Southern Land Co. on Jan. 27 at a grand opening ceremony for the project. Located at 930 E. 15th St. in Plano, the community was developed under a public-private partnership between Southern Land and the city of Plano. Dallas Area Rapid Transit (DART) and the North Central Council of Governments (NCTCOG) also contributed to the development of the project, which is designed to help revitalize of downtown Plano.

January 29, 2015

Office Texas

Hillwood Secures Lease For New Office Space in Fort Worth

by Haisten Willis January 29, 2015

FORT WORTH, TEXAS — Hillwood Properties has secured a new lease from Title Source, an independent provider of title insurance, property valuations and settlement services in the nation. The company is the first tenant at the new Hillwood Commons I office complex at Alliance Town Center, and will lease more than 10,000 square feet at the facility. The property is located on the north side of Heritage Trace Parkway.

January 29, 2015

Office Texas

CBRE Arranges Sale of Infill Office Building in Austin

by Haisten Willis January 28, 2015

AUSTIN, TEXAS — CBRE Capital Markets’ investment properties has arranged the sale of a 9,522-square-foot office building at 3108 N. Lamar Blvd. in Austin. A local investment firm purchased the asset from an Austin-based partnership for an undisclosed price. The property is 85 percent occupied and is located near Seton Medical Center and The Heart Hospital of Austin. The main tenant, gift card e-commerce provider QuickGifts Inc., occupies 4,347 square feet. In 2012, the building received several renovations, including new paint on the exterior and common areas, new common area flooring and new interior signage. Walter Saad, Cathy Nabours and Logan Reichle of CBRE represented the seller in the transaction. Andrew Perkel of Retail Solutions represented the buyer.

January 28, 2015

Industrial Texas

Cushman & Wakefield Arranges Sale of Industrial Property in Houston

by Haisten Willis January 28, 2015

HOUSTON — Cushman & Wakefield has arranged the sale of a 58,000-square-foot industrial property at 4909 Fulton St. in Houston. Will Condrey, David Cook, Jeff Peden and Scott Miller of Cushman & Wakefield’s Houston office represented the seller, F&J Real Estate Investments Ltd., in the transaction. Russell Hernandez of Hernandez Properties represented the buyer, 4909 Fulton Ltd. The property is located near Houston’s newly built Northline Transit Center.

January 28, 2015

Office Texas

Hartman XX Purchases Office Portfolio in Houston

by Haisten Willis January 28, 2015

HOUSTON — Hartman Short Term Income Properties XX Inc. affiliate Hartman Highway 6 LLC has purchased the Timbercreek Atrium and Copperfield office buildings. The two Class B office buildings total 93,656 square feet and are located in the northwest Houston submarket, along Highway 6 between I-10 and FM 529. Timbercreek Atrium is a three-story, 51,035-square-foot building located at the intersection of Highway 6 North and Timbercreek Place. The property was 79 percent leased at the time of sale. Tenants include The Loken Group, H2O and the Harris County Hospital District. Copperfield Building is a three-story, 42,621-square-foot office building located on Spencer Road. At the time of sale, the property was 80 percent leased to J.P. Morgan Chase Bank, Deep Sea Development and Harvey Home Health. Joshua Lass-Sughrue, Douglas Pack and Sam Hansen of NAI Partners, along with Jordan Summerville of C-III Realty Services, represented the seller in the transaction. Dave Wheeler, Julian Kwok and Russell Turman of Hartman Income REIT represented Hartman Highway 6 LLC.

January 28, 2015

Office Texas

Colliers International Arranges Office Sublease in Dallas

by Haisten Willis January 28, 2015

DALLAS — Colliers International represented the law firm of Weil, Gotshal & Manges in the sublease of its 21,713-square-foot office space at 300 Crescent Court in Dallas. Schiff Hardin LLP, a law firm headquartered in Chicago, is the new tenant and will use this space as its new Dallas location. Schiff Hardin is currently in a temporary office at 100 Crescent Court while the company’s space is being renovated. The former Weil space was a secondary floor, which means that a reception area, break room and conference rooms will need to be constructed for Schiff Hardin’s new office. Schiff Hardin will occupy the entire fourth floor once the renovations are complete. Hunter Blanks, Travis Ewert and Scott Hage of Colliers International’s Dallas office represented Weil, Gotshal & Manges in the transaction. Bob Chodos and Steve Levitas of Colliers International Chicago represented Schiff Hardin LLP.

January 28, 2015

Restaurant Retail Texas

New Restaurants Sign Leases at Hughes Landing in The Woodlands

by Haisten Willis January 27, 2015

THE WOODLANDS, TEXAS — Truluck’s and Starbucks are set to join Hughes Landing, a 66-acre mixed-use development in The Woodlands. Truluck’s will be located in restaurant row in Hughes Landing, while Starbucks will be located on the retail level of One Lakes Edge, a 390-unit multifamily development. Hughes Landing features a mixture of restaurants and retail, entertainment venues, up to 800 multifamily residences, Class A office space and a full-service Embassy Suites scheduled to open in late 2015. Truluck’s plans to begin construction on its 10,000-square-foot space this spring, and expects to complete construction this fall. The restaurant features seafood, steaks and wine. The 1,820-square-foot Starbucks location is expected to open in March and will provide coffee, teas and snacks. Rip Reynolds of The Howard Hughes Corp. represented The Woodlands in the transactions. Pete Stewart Properties Inc. represented Truluck’s. Walter Salek and Lasater Miller with The Retail Connection represented Starbucks.

January 27, 2015

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