HOUSTON — Moody Rambin has arranged a 9,969-square-foot office lease in Houston for Document Technologies, a provider of document outsourcing services primarily for law firms and corporations. The tenant will occupy space within the 2550 North Loop West building, an eight-story, 155,061-square-foot property located near the interchange of I-610 and U.S. Highway 290. Terri Torregrossa and Kurt Kistler of Moody Rambin represented the building owner and landlord, Oxley Leasing 2550 LLC, in the negotiations. Ryan Barbles of JLL represented the tenant.
Texas
HOUSTON — Full-service real estate company Hayman Co. has acquired The Lodge at Shadowlake, a 518-unit apartment property in Houston. The garden-style complex offers one- to three-bedroom apartments, plus amenities such as a swimming pool, fitness center, clubhouse, movie theater and sand volleyball court. The community is situated at 12360 Richmond Ave., in proximity to the Westchase and Energy Corridor submarkets. Hayman Co. plans to implement its value-add program, remodeling and renovating unit interiors, building exteriors and communal areas of the property.
HOUSTON — The Richland Companies has acquired Fairmont PH Business Park, a two-building, 66,654-square-foot industrial complex in Houston. Situated on nearly five acres at 11810 Fairmont Parkway and 13501 Bay Area Blvd., the property is directly parallel to the Port of Houston and located in proximity to I-45, the Sam Houston Tollway, State Highway 146 and State Highway 225. Built in 2008, the tilt-wall structures offer 28-foot ceiling clear heights, dock-high loading capabilities and ample parking. The complex was fully leased at the time of the sale to four tenants, Worley Parsons, Orr Safety, GSA and Coastal HVAC Supply. Fairmont PH Business Park is the 13th property in The Richland Companies’ Houston portfolio, which now totals approximately 1.6 million square feet.
DALLAS — Cassidy Turley has arranged a 59,580-square-foot industrial lease in Dallas for Fleetpride, a manufacturer of heavy-duty truck and trailer parts. The tenant will occupy space at 2007 Royal Lane, near the interchange of I-635 and U.S. Route 77. Frank McCafferty, Blake Anderson, Craig Wilson, Randy Cooper, Kris Knapstein and David Eseke of Cassidy Turley represented Fleetpride in the negotiations with the unnamed landlord.
FORT WORTH, TEXAS — Trademark Property co. has leased 45,000 square feet of retail space at its Waterside mixed-use development in Fort Worth to Whole Foods Market. The store, which is expected to open by the spring of 2016, will feature a large outdoor seating area. The 63-acre Waterside is located along the Trinity River and will include 185,000 square feet of retail and restaurant space; 20 to 30 acres of multifamily properties; 100,000 to 200,000 square feet of office space; and a signature hotel. Whole Foods is partnering with Trademark to make the development a “Conscious Place” project, which calls for a variety of amenities including a covered community pavilion, children’s play areas and outdoor patios for restaurants. Phase I of Waterside is slated to open in the fall of 2015.
PLANO, TEXAS — Auto manufacturer Toyota will relocate its North American headquarters to a new campus in Plano. The new facility is estimated to total 1 million to 1.5 million square feet in the Legacy business park near the interchange of the Dallas North Tollway and State Highway 121. Several Toyota facilities nationwide — including the Toyota Motor Sales USA Inc. operation in Torrance, Calif., and the Toyota Engineering & Manufacturing North America Inc. in Erlanger, Ky. — will be consolidated at the new complex. A total of approximately 4,000 employees will be relocated, including those at Torrance-based Toyota Financial Services and certain employees at Toyota Motor North America in New York City, by the time the new campus is completed in late 2016 or early 2017. An expansion of the York Township, Mich.-based Toyota Technical Center and opening of the new Toyota Motor Manufacturing Kentucky in Georgetown, Ky., are also part of the transition. Paul Whitman, Brad Selner, Meredith O’Connor and Michael Sessa of JLL represented Toyota in the McKinney transaction.
HOUSTON — First Industrial Realty Trust Inc. has broken ground on the new 350,820-square-foot First Northwest Commerce Center in Houston’s Northwest submarket. The distribution facility, to be located on a 24-acre site off Beltway 8 at 4800 W. Greens Road, will be designed for either single- or multi-tenant use. The building will feature 32-foot clear heights, 130-foot truck courts, excess trailer storage and ESFR sprinklers. Construction is slated for completion as early as the fourth quarter of this year. The development team includes development consultant Davis Commercial Development LLC, general contractor Cadence McShane and architect Munson Kennedy Partnership. Billy Gold and David Adame of CBRE will lease the property.
ROUND ROCK, TEXAS — HFF has brokered the sale of a three-building, 275,499-square-foot industrial portfolio in the Austin suburb of Round Rock. The properties include 110, 116 and 120 E. Old Settlers Blvd., all located off I-35. Thermo Fisher Scientific, Total Site Solutions and Toshiba each fully occupy one of the facilities. HFF marketed the portfolio on behalf of the seller, a Boston-based institutional investor. Stoltz Cos., an owner/operator real estate investment company, purchased the assets free and clear of existing debt.
McKINNEY, TEXAS — Hisun Motors Corp., a China-based manufacturer of utility-terrain and all-terrain vehicles, will open its North American headquarters at a 163,502-square-foot facility in the Dallas/Fort Worth suburb of McKinney. The property, located at 310 E. University Drive, previously served as the regional headquarters of Emerson Process Management Regulator Technologies. McKinney Economic Development Corp. acquired the site in 2013 when Emerson opened its global corporate headquarters elsewhere in McKinney. Hisun, which is expected to bring 80 new jobs to McKinney, worked with the McKinney Economic Development Corp. for more than one year in finding a location.
THE WOODLANDS, TEXAS — Thind Hotels LLC will develop two new hospitality properties on a 10-acre site in The Woodlands for approximately $25 million. The project includes a six-story, 152-room full-service Holiday Inn and a four-story, 120-room extended-stay Staybridge Suites. The Holiday Inn will feature a restaurant, swimming pool, spa and 5,500-square-foot ballroom. The Staybridge Suites will feature an outdoor fire pit, patio with covered trellis and indoor movie lounge. The Mathis Group Inc. is serving as project manager, and Arch-Con Construction is working as the general contractor. The project will break ground in May and is slated for completion in the summer of 2015.