HOUSTON — Full-service commercial real estate company Levey Group has leased 18,300 square feet of warehouse space in Houston to RIEX Co. LP, a manufacturer of fasteners, sealing products and construction supplies. Located at 8850 N. Sam Houston Parkway West, the facility is part of the Sam Houston Business Park, which includes three tiltwall facilities. Joseph Smith of CBRE represented the Levey Group in the negotiations, while Nick Peterson of NAI Houston represented tenant.
Texas
DALLAS — Investment firm Karlin Real Estate has provided a $7.2 million loan to DFW Economy Industrial LLC for the refinancing of a three-property industrial portfolio in the Dallas/Fort Worth Metroplex. The assets total 268,000 square feet and include two buildings in Arlington and one in Mesquite. The properties, all of which include incubator and office space, were collectively 88 percent leased at the time of the closing. DFW Economy Industrial purchased the portfolio in 2006. Karlin Real Estate, an affiliate of private investment firm Karlin Asset Management, is based in Los Angeles.
CARROLLTON, TEXAS — CBRE has brokered the sale of Hebron Heights Market, a 10,000-square-foot shopping center in the Dallas suburb of Carrollton. Located at 1008 W. Hebron Parkway, the unanchored property was fully leased at the time of the sale to tenants including Dunkin Donuts/Baskin Robins, Bahama Bucks, Wing Town, Chiro One Wellness Center and Quiznos. Jennifer Pierson and Beth Pierson of CBRE represented the seller, an affiliate of the Tabani Group. Jet Set Commercial purchased the asset.
THE WOODLANDS, TEXAS — The J. Beard Real Estate Company LP has arranged a 10,000-square-foot lease for Conversio Health LLC at Research Forest Lakeside in The Woodlands. The tenant, a service provider for patients with chronic conditions, will occupy part of Building 4 in the larger 10-building mixed-use complex, located on 77 acres overlooking Lake Woodlands and in close proximity to The Woodlands Mall and Interstate 45.Lindsey McKean of J. Beard represented Conversio in the negotiations. James Warmack of Warmack Investments represented the Research Forest Lakeside.
SPRING, TEXAS — Newcor Commercial Real Estate has arranged a 8,700-square-foot office lease for James Construction Group in the Houston suburb of Spring. The single-tenant property is located on 1.35 acres at 21755 Interstate 45 North, in close proximity to the interchange of I-45 and Grand Parkway, as well as the new Exxon Mobil campus. Rob Banzhaf of Newcor represented the landlord, Jefferson Bank Trust, and also negotiated a lease termination on behalf of the existing tenant, Terminix. Joe Gallini of the Gallini Group represented the James Construction Group.
DESOTO, TEXAS — Colliers International has brokered the sale of Pecan Crossing, a 236-unit multifamily complex in the Dallas suburb of Desoto. Located at 1225 E. Pleasant Run Road and in close proximity to I-35, the property offers one- to three-bedroom apartments plus tennis courts and two swimming pools. Bob Helterbran, Mark Freeman, Teresa Lowery and Jeff Sherman of Colliers represented the seller, Pecan Crossing Apartments LLC, in the transaction. A Japanese private investor purchased the asset and is planning minor renovations in the coming year.
HOUSTON — Real estate firm Intergroup Cos. has brokered the sale of the 182-room Hilton Garden Inn Houston/Galleria Area. The hotel, which opened in 2005, offers shuttle service and complimentary high-speed internet, as well as a business center, fitness center, ballroom and swimming pool. The property is located at 3201 Sage Road, in proximity to the interchange of I-610 and the Southwest Freeway. Tandy Lofland of Intergroup represented the seller, Houston-based American Liberty Hospitality. An affiliate of Summit Hotel Properties purchased the asset, and American Liberty will continue to manage the hotel.
AUSTIN, TEXAS — Investment firm CIM Group and Seaholm Power LLC have leased 103,000 square feet of office space at the Seaholm Power Plant in Austin to athenahealth. The tenant, a provider of cloud-based services for the healthcare industry, will fully occupy the office portion of the property, which is being repurposed as part of a mixed-use development. Renovations to the space for athenahealth are slated for completion in mid-2014, with construction of additional elements of the project extending into 2015. The Seaholm Power Plant redevelopment site is bounded by Cesar Chavez Street, West Avenue, 3rd Street and the A&NW rail line in downtown Austin.
THE WOODLANDS, TEXAS — Crust Pizza Co., a restaurant concept developed in The Woodlands, will open at Creekside Park Village Center, a mixed-use development of The Howard Hughes Corporation and The Woodlands Development Company. The pizzeria will occupy a 2,500-square-foot space along the complex’s Village Green, which includes a tree-lined park, walkways and water feature. The new location will be Crust Pizza’s third in The Woodlands. Opening is slated for this fall. Mark Raines of CBRE represented Crust Pizza in the lease negotiations, while Rip Reynolds of The Howard Hughes Corporation represented The Woodlands Development Company.
DALLAS — Colliers International has brokered the sale of Preston Plaza, a 261,186-square-foot office tower in north Dallas. Located at 17950 Preston Road, the Class A property stands 10 stories and is in proximity to President George Bush Turnpike, Dallas North Tollway and I-75. Jack Minter, Creighton Stark and Ben Lurie of Colliers represented both the seller, Granite Properties, and buyer, Caddo Holdings, in the transaction.