Texas

Capital One Secures $15.5M Loan for Retirement Community in Tyler

by Haisten Willis March 9, 2015

TYLER, TEXAS — Capital One Bank has provided a $15.5 million loan to finance the acquisition of Meadow Lake, a continuing care retirement community in Tyler. The borrower, a partnership between Evergreen Senior Living Properties LLC, its management affiliates ESLP Management LLC, and RSF Partners, acquired the property through a bankruptcy auction. Located on 95 acres, Meadow Lake opened in 2011 and includes 117 independent living units, 20 assisted living units, 34 memory care units and 30 skilled nursing beds. The facility also includes 20 fully improved lots for the addition of independent living cottages as well as undeveloped land that could accommodate an additional 88 cottages.

March 9, 2015

Restaurant Retail Texas

Baker Katz Acquires 30,000 SF Property in Houston

by Haisten Willis March 9, 2015

HOUSTON — Houston-based Baker Katz has acquired the 30,000-square-foot former Baytown Seafood restaurant in Houston. The property is located at the intersection of I-10 East and Haden Road. Baker Katz plans to demolish the current building and construct an 8,000-square-foot property, which will be available for lease to restaurant and retail tenants.

March 9, 2015

Retail Texas

Hunington Properties Arranges Sale of Shopping Center in Metro Houston

by Haisten Willis March 9, 2015

FRESNO, TEXAS — Hunington Properties has arranged the sale of the Teal Run Plaza, a 14,920-square-foot shopping center. The property is situated on nearly two acres located at 12125 Highway 6 South in Fresno. Rafael Melara with Hunington Properties represented the unnamed seller. Stanley Madumere with Champions Real Estate represented the buyer.

March 9, 2015

Office Texas

NAI Robert Lynn Represents Altair Global in 13,960 SF Expansion in Metro Dallas

by Haisten Willis March 9, 2015

PLANO, TEXAS — NAI Robert Lynn represented Altair Global in a 13,960-square-foot expansion deal for its corporate headquarters. Altair Global is a global assignment and relocation management company offering mobility solutions. Located at 7800 N. Dallas Pkwy. in Plano, the Class A office building allows Altair Global to expand its headquarters’ presence in the area. The office building is in close proximity to the company’s original headquarters building located at 7500 N. Dallas Pkwy. The new office provides access to the Dallas North Tollway and also is a short drive to The Shops at Legacy. Dan Jardine III and Tom Lynn of NAI Robert Lynn represented Altair Global in the transaction.

March 9, 2015

Multifamily Texas

Greysteel Arranges Sale of Cooper Park in Metro Dallas

by Haisten Willis March 6, 2015

ARLINGTON, TEXAS — The Greysteel Co, has arranged the sale of Cooper Park, a 180-unit apartment complex located at 812 Cooper Square Circle in Arlington. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel represented the seller, Cooper Holdings LP. Upper Level Acquisitions I LLC purchased the property.

March 6, 2015

Loans Retail Texas

BMC Capital Arranges $3.2M Loan for Retail Property in Metro Dallas

by Haisten Willis March 6, 2015

IRVING, TEXAS — BMC Capital has arranged a $3.2 million purchase loan for a multi-tenant retail property located in Irving. The seven-year loan includes a 4.3 percent interest rate and a 25-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships. Brian Gramlich of BMC Capital’s Dallas office arranged the financing.

March 6, 2015

Retail Texas

Venture Arranges Four Leases For DestinationXL in Texas, Oklahoma

by Haisten Willis March 6, 2015

DALLAS — Venture Commercial Real Estate has arranged four leases on behalf of DestinationXL, a big and tall men’s clothing store. The 9,059-square-foot Dallas store is located at the southeast corner of North Central Expressway and Park Lane in the Shops at Park Lane, and will represent the first urban Dallas location for the retailer. The Arlington location spans 5,970 square feet and is located at 4245 S. Cooper St. The 6,800-square-foot Midland location is located at 2810 W. Loop 250 North in The Commons at Northpark II shopping center. The Tulsa, Okla. store, also 6,800 square feet, is located at 7020 S. Memorial Drive. Venture’s John Zikos and Jonathan Cooper represented the tenant in the four transactions. Ashley O’Malley and Jack Beard of United Commercial Realty, Mihir Mody of Mody Capital LLC, Gary Andrews of GRACO Real Estate Development and Matt Mardis of Paine & Associates represented the landlords in the transactions. The Tulsa store opened in October. The Arlington location is scheduled for a February opening, Midland is scheduled to open in March and the Dallas store is slated to open in May.

March 6, 2015

Office Texas

Liberty Pipeline Services Relocates Office to The Woodlands

by Haisten Willis March 6, 2015

THE WOODLANDS, TEXAS — Liberty Pipeline Services has expanded and relocated its offices from Spring to The Reserve at Sierra Pines in The Woodlands. Liberty increased the size of its space from 3,300 square feet to 9,313 square feet in the new Class A building, which is located at 1585 Sawdust Road. Ryan Dierker and Rob Banzhaf with Newcor Commercial Real Estate represented Liberty Pipeline Services in locating and negotiating the office space lease. Jarrod McQuain of Cushman and Wakefield represented the sub landlord.

March 6, 2015

Market Reports Midwest Texas Texas Market Reports

Migration to Central Texas Fuels Austin Multifamily Market

by Haisten Willis March 6, 2015

Austin continues to be one of the hottest multifamily markets in the country due to its exceptional economic and population growth. According to Angelou Economics, Austin gained 39,100 jobs in 2014, a growth rate of 4.5 percent. In the 12 months ending in November 2014, Austin experienced an unemployment rate of 3.9 percent, well below the national average of 5.6 percent, according to numbers published by the U.S. Bureau of Labor Statistics. Fueled largely by the city’s increased hiring in the tech sector, Austin had an in-migration of 66,000 people in 2014, a growth rate of 3.5 percent. The city attracts residents from all over the country due to the low cost of living, the University of Texas college atmosphere, the beautiful hill country setting, and internationally renowned events such as Austin City Limits, Formula 1 Grand Prix and ESPN’s Summer X-Games to name a few. Supported by technology, creative industry jobs and the seat of state government, the Austin MSA was recently ranked No. 2 on Forbes magazine’s list of “America’s Fastest Growing Metros,” down from the No. 1 position the city held for the previous four years. The U.S. Census Bureau estimates Austin will exceed 2 million residents …

March 6, 2015

Office Texas

Buchanan Street Partners Purchases Office Building in Texas

by Haisten Willis March 5, 2015

DALLAS — Buchanan Street Partners has acquired Granite Tower, a 10-story, 240,000-square-foot office building located at 4055 Valley View Lane in Dallas. Buchanan Street acquired the property on behalf of an unnamed pension plan from a partnership between CREA Investments and Macfarlan Capital Partners. Granite Tower is currently 97 percent leased. The firm acquired Granite Tower with five-year, fixed-rate financing provided by a Midwestern-based life insurance company through HFF, who acted as the mortgage broker in the transaction. Dallas-based DTZ will continue to manage and lease the property.

March 5, 2015

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