AUSTIN — CBRE has arranged the sale of Centennial Towers on behalf of Braun Enterprise, a Houston-based real estate company. Boston-based Taurus Investment Holdings LLC purchased the asset for an undisclosed price. Centennial Towers is a six-story, 156,293-square-foot office building in the North Central Austin submarket. The tower is 95 percent leased to tenants including KBR, TRC Environmental Corp., The University of Texas and Texas A&M University. Centennial Towers is located at 505 E. Huntland Drive, within walking distance of light rail transit from the Capital MetroRail Highland Station. The property was built in 1986 and has received several updates, including new lighting in 2012 and a conference room renovation in 2014.
Texas
HOUSTON — NAI Houston has leased a 21,793-square-foot industrial building at 11505 Todd Street in Houston’s North West Industrial Corridor. John Ferruzzo and Darren O’Conor of NAI Houston represented the tenant, Superior Cladding LLC. Stuart Rosen of Greater Houston Commercial Properties represented the landlord, One Todd VHJT LLC.
FORT WORTH — Marcus & Millichap has arranged the sale of The Brentwood, a 292-unit apartment complex in Fort Worth. Al Silva of Marcus & Millichap’s National Multi Housing Group in Fort Worth, marketed the property on behalf of the seller, a Texas-based LLC. Silva also secured the buyer, another Texas-based LLC. The Brentwood is located at 8300 Brentwood Stair Road in Fort Worth, 10 miles east of downtown. The property was built in 1984 and was given a $2 million renovation between 2011 and 2013.
HOUSTON — Nelson Murphree Legacy Partners LLC has begun construction on a new office project located at 1885 St. James Place, just northwest of the Galleria in Houston. The new, 15-story Class A office development is expected to be complete in early 2016. Jackson & Ryan is the project’s architect and Tellepson Builders is the general contractor. The project will include 165,146 square feet of rentable space on the top nine floors, which will sit atop six levels of parking.
AUSTIN — HFF has arranged the sale of Stonecreek I and II and Canyon at Wild Basin, a three-building, Class A office portfolio totaling 314,399 square feet in Austin. HFF marketed the properties on behalf of the seller, Intercontinental Real Estate Group. A private real estate fund advised by Crow Holdings Capital Real Estate purchased Stonecreek I and II. CapRidge Partners LLC purchased Canyon at Wild Basin. Stonecreek I and II are located at 11920 and 11921 North Mopac Expressway just north of The Domain in northwest Austin. The buildings are 98 percent leased to tenants including CoreLogic, Time Warner, Century Link, Intellimark, TSMC and Siemens. Canyon at Wild Basin is located at 115 Wild Basin Road in southwest Austin. The building is 80 percent leased to tenants including Open Symmetry, Alliance Association Management, owns & Stanford, Dynamic Computing Services, X1 Labs, Creative Solutions and Cloud 8 Sixteen.
DALLAS — KDC and Invesco Real Estate have begun construction on a 12-story, 150,000-square-foot office building in Uptown Dallas. The planned Class A office building will be located at 1920 McKinney Ave. and will feature six stories of office space on top of a six-story parking structure. The ground floor will have 8,500 square feet of retail and restaurant space. The building is scheduled for completion in early 2016.
HOUSTON — Wood Partners hosted a grand opening event for Alta City West, a 133-unit apartment complex in Houston. The 119,000-square-foot complex sits on three acres at 9233 Westheimer Road and is currently 29 percent leased. Good, Fulton & Farrell designed the building. Alta City West includes five studios a mix of studio, one- and two-bedroom units, and 188 parking spaces. Amenities include a clubhouse, gym, outdoor kitchen areas and a pool. The complex is located close to major local employers including Phillips 66, Chevron, Halliburton, BP, Shell and Exxon.
KATY, TEXAS — Q10 | Kinghorn, Driver, Hough & Co. has arranged a $4.5 million loan for the refinancing of the Entrust Office Building in Katy, a suburb of Houston. The 32,382-square-foot building, located near the Grand Parkway and Westpark Tollway, is the result of a collaboration between The Mission Cos. and Entrust Inc. Thrivent Financial provided the 10-year loan, which includes a 25-year amortization schedule. Ray Driver III and Dave Holland of Kinghorn worked to arrange the transaction.
HOUSTON — HFF has arranged both the sale and financing for 8 West Centre, a new Class A office building on the Houston Tollway in Houston. HFF marketed the property on behalf of the seller, Core Real Estate. Azrieli Group, a real estate investment company based in Tel Aviv, purchased the asset for an undisclosed price. HFF assisted Azrieli in securing a five-year, fixed-rate acquisition loan through Aegon USA Realty Advisors LLC. Completed in 2013, 8 West Centre is a 227,045-square-foot, four-story property with a 938-space parking garage. The LEED Silver designated building is fully leased to two tenants, Cameron International Corp. and Helix Energy Solutions. The property sits on nine acres at 3505 W. Sam Houston Parkway North inside the Beltway 8 loop road. The HFF team representing the seller included Dan Miller, Rusty Tamlyn, Mark West and Trent Agnew. HFF’s debt placement team included Matt Kafka and Wally Reid.
DALLAS — Marcus & Millichap has arranged the sale of 18170 Hillcrest Road, a 12,654-square-foot office property in Dallas. Ron Hebert of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a partnership. An outside broker represented the buyer, an owner-user. The property was built in 2001 on 1.2 acres at the northeast corner of Hillcrest Road and Frankford Road. The building includes a loading dock and a separate 1.6-acre parcel of undeveloped land.