Texas

Lee & Associates Opens New Office in Houston

by Haisten Willis January 27, 2015

HOUSTON — Lee & Associates has opened a second office in Texas. Lee & Associates Houston will join the Lee & Associates Dallas/Fort Worth team in providing client services. Lee & Associates Houston is comprised of brokers from Griffin Partners Inc., a local boutique real estate player who has partnered with Lee & Associates to open the office. The office is located at the One Riverway building in Houston. Chris Lewis, Drew Lewis, Josh Cheatham and Travis Taylor will head Lee & Associates Houston. The new office will continue its relationship with Griffin Partners, providing project-leasing services.

January 27, 2015

M&M Arranges Sale of 62-Unit Apartment Building in Metro Dallas

by Haisten Willis January 27, 2015

WYLIE, TEXAS — Marcus & Millichap has arranged the sale of Trails Place Townhomes, a 62-unit apartment property located in Wylie. Tommy Lovell III and Kim Westcott of Marcus & Millichap’s Dallas office marketed the property on behalf of a local seller. Lovell and Westcott also procured the buyer, a limited liability company from California. Trails Place Townhomes is located at 1 Trails Place near North Highway 78. Built in seven phases from 1985 to 2005, the asset is situated on nearly four acres. The community includes one-, two-, and three-bedroom townhome floorplans ranging in size from 700 square feet to 1,135 square feet. Amenities include full size washer and dryer connections in all units, private patios for all units, on-site management, tile flooring, walk-in closets and carports for select units.

January 27, 2015

Multifamily Texas

ARA Arranges Sale of Apartment Complex in Austin

by Haisten Willis January 26, 2015

AUSTIN — ARA has arranged the sale of Elan East, a 251-unit, Class A apartment complex located in Austin. Patton Jones of ARA represented the sellers, South Carolina-based Greystar, and Washington, D.C.-based The Carlyle Group, in the transaction. A Boston- based institutional buyer purchased the property. Built in 2014, Elan East is an urban, garden-style community that includes one- and two-bedroom units. Amenities include a pool with outdoor lounge area and full kitchen with grilling stations/prep space, a gym, business center and club lounge. The property was 95 percent occupied at the time of sale.

January 26, 2015

Retail Texas

The Center at Pearland Parkway Retail Development Opens in Metro Houston

by Haisten Willis January 26, 2015

PEARLAND, TEXAS — The Center at Pearland Parkway has opened in Houston. Located at the intersection of FM 518 and Pearland Parkway, Stream Realty Partners’ newest retail development provides 165,000 square feet of anchor and junior-anchor, inline and pad site space. Located in Pearland, The Center at Pearland Parkway includes tenants such as T.J. Maxx, Ross Dress for Less, Petco, Palais Royal, Five Below, Rack Room Shoes, rue21 and Salons by JC.

January 26, 2015

Industrial Texas

ML Realty Partners Arranges Three Leases in Metro Dallas

by Haisten Willis January 26, 2015

CARROLLTON, TEXAS — ML Realty Partners LLC has arranged three leases totaling 96,010 square feet at Crosby Trade Center. The two-building Carrollton development was developed in partnership with Frontier Equity. The leases bring the 295,774-square-foot, multi-tenant development to 32 percent leased. J. Scott More and Jim Brice of Holt Lunsford Commercial represented ML Realty Partners in all transactions. Business Solutions Transport leased the first 31,385 square feet of industrial space in the 110,920-square-foot north end building at 1215 W. Crosby Road. Tyson Erwin of NAI Hiffman represented BST in the transaction. Renewal by Anderson will join BST at 1215 W. Crosby Road with a new lease for 32,179 square feet. Searcy Ferguson of CBRE represented Renewal by Anderson in the transaction. Gunder Associates signed a lease for 32,446 square feet in the 184,854-square-foot south end building. Curt Linn of Avison Young represented Gunder Associates in the transaction.

January 26, 2015

Industrial Texas

Bradford Arranges Sale of 102,732-SF Net-Leased Property in Metro Dallas

by Haisten Willis January 26, 2015

GRAND PRAIRIE, TEXAS – A north Texas-based partnership has sold a 102,732-square-foot, net-leased property in the Upper Great Southwest Industrial District to Conti Warehouses LLC of Fort Worth. The property at 1470 Ave. T in Grand Prairie was developed in 1994 as a build-to-suit for Genesee Stamping & Fabricating Inc. Michael Spain and Jim Ferris of Dallas-based Bradford Commercial Real Estate represented the seller and original owner, NTA Holdings Ltd. Ryan Wood of Conti Warehouses represented the buyer.

January 26, 2015

Hospitality Texas

Paris Regional Medical Center to Add 40,000 SF in North Texas

by Haisten Willis January 23, 2015

PARIS, TEXAS — Construction will begin this summer on a new addition to the campus of Paris Regional Medical Center (PRMC). The groundbreaking for the Paris Regional Medical Pavilion, a 40,000-square-foot medical office building, is slated for this summer. The new facility, which will connect to the main hospital, is designed to expand the range of services and improve accessibility for patients of northeast Texas and southeast Oklahoma. PRMC plans to occupy 60 percent of the new facility. Once complete, patients will have access to primary care, specialty care, laboratory and other services. Rendina Healthcare Real Estate will develop the project. Construction is expected to last approximately 10 months. The first phase of construction will coincide with the demolition of two vacant hospital buildings, which is a part of PRMC’s overall goal to enhance the campus environment and free up space for future expansion.

January 23, 2015

Restaurant Retail Texas

M&M Arranges Sale of 3,500 SF Net-Leased Property in Midland

by Haisten Willis January 23, 2015

MIDLAND, TEXAS — Marcus & Millichap has arranged the sale of Chick-fil-A, a 3,500-square-foot net-leased property in the west Texas city of Midland. Geoff Ficke and Neal Waldman of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Alvin Mansour of the firm’s San Diego office procured the buyer, a private investor. Chick-fil-A is located at the northwest corner of Village Circle and South Garfield Street at 25 Village Circle. The property was built in 2012 and sits on more than one acre. The asset is within walking distance to Midland Memorial Hospital and is less than one mile south of Midland High School. At the time of listing, 13 years remained on the original 15-year corporately guaranteed ground lease.

January 23, 2015

Retail Texas

Coldwell Banker Arranges Sale of Convenience Store in San Jacinto

by Haisten Willis January 23, 2015

SAN JACINTO, TEXAS – Coldwell Banker Commercial United has arranged the sale of a 5,136-square-foot gas station/convenience store and Village Pizza in San Jacinto, 58 miles north of Houston. The property is located at 11037 Market St. Daniel Bekele of Coldwell Banker represented the seller, a bank. The buyer was unnamed.

January 23, 2015

Industrial Office Texas

Ascension Properties Purchases Two Commercial Properties in Metro Dallas

by Haisten Willis January 23, 2015

FORT WORTH AND CARROLLTON, TEXAS — Ascension Properties LP has purchased two properties located in Fort Worth and Carrollton. The purchase is the result of a 1031 tax-deferred exchange from the sale of Ascension Point Condominiums in August 2014. The first property is an office building built in north Fort Worth in 2004. Ascend Alliance LP sold the 20,100-square-foot building. Marty Rader with DFW Realty Partners LLC represented the seller in the transaction. Steve Fithian with Sperry Van Ness/Visions Commercial represented Ascension in the transaction. The other property is an industrial building located at 2420 Tarpley Road in Carrollton. Beltwood I & II Ltd., and Belmeade Tarpley Ltd., were the sellers. The property spans 58,700 square feet and was built in 1983. David Cook with Sperry Van Ness/David Cook Co. represented the seller. Fithian represented Ascension in the sale.

January 23, 2015

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