HOUSTON — NAI Houston has arranged a 46,250-square-foot industrial lease in Houston for KT Recovery & Storage LLC. The tilt-wall property, located at 1414 Sakowitz St., features 16-foot clear heights, four dock-high overhead doors and 4,500 square feet of office space. John Ferruzzo and Chris Kugle of NAI Houston represented the unnamed landlord in the negotiations. Greg Barra of Boyd Commercial represented the tenant.
Texas
FORT WORTH, TEXAS — Trademark Property Co. has leased a total of 45,568 square feet of retail space to seven new tenants at Alliance Town Center in north Fort Worth. Carter’s (4,030 square feet), OshKosh (2,506 square feet), Five Below (8,000 square feet), Men’s Wearhouse (5,500 square feet), Shepler’s Western Wear (18,000 square feet) and Sleep Experts (4,500 square feet) each signed 10-year leases and will open by September of this year. America’s Best Contacts and Eyeglasses (3,122 square feet) signed a five-year lease and plans to open in early 2015. A joint venture of Trademark Property Co. and Hillwood Development, Alliance Town Center already houses tenants such as Belk, JC Penney, Dick’s Sporting Goods, Best Buy, Cinemark Theaters and Kroger Marketplace. The development is located on I-35 at Heritage Trace Parkway and is part of the 17,000-acre AllianceTexas master-planned community.
HOUSTON — Vista Equities Group has leased 3,886 square feet of restaurant space at the LaCenterra at Cinco Ranch development in Houston to Torchy’s Tacos, a Texas-based chain. The new eatery, set to open this summer, will be the fourth Torchy’s location in Houston and will serve breakfast, lunch and dinner. Vista Equities Group was represented internally by Donna Keith. Jamie Weaver of Baker Katz represented Torchy’s Tacos in the negotiations.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of two multifamily complexes in Fort Worth, the 118-unit Ridgmar Hills and the 117-unit The Steppes. Located adjacent to one another, just north of I-30 near Ridgmar Mall, the properties offer floor plans ranging in size from 402 to 1,420 square feet and each feature laundry facilities, a swimming pool, fitness room, business center and game room. The combined 235 apartments were 94 percent occupied at the time of the sale. Mason Green of Marcus & Millichap marketed the assets on behalf of the seller, Warner Alan Properties. Green also secured the buyer, a Dallas-based partnership, which secured two Fannie Mae loans with 10-year terms through Arbor Commercial for the acquisitions.
PONCA CITY, OKLA. — Investment advisory brokerage firm ARA has brokered the sale of Meadowbrook Village, a 130-site manufactured home development in Ponca City, located about 40 miles north of Stillwater. Constructed in the 1970s, Meadowbrook Village features an on-site office, laundry facility and storm shelter. The all-age community, situated in proximity to major area employers including a ConocoPhillips refinery, is serviced by municipal utilities. A local owner-operator purchased the distressed asset out of receivership. Andrew Shih, Brian Vita and Todd Fletcher of ARA represented the seller in the all-cash transaction.
HOUSTON — NAI Houston has arranged a 29,306-square-foot warehouse lease in Houston’s South Inner Loop submarket for Rud and Pickarts Marketing Co. Located at 6006 Griggs Road, the facility is in close proximity to the interchange of I-610 and I-45. The tenant is a provider of marketing services for manufacturers of industrial, retail and food packaging and food service and janitorial supplies. Darren O’Conor of NAI Houston represented Rud and Pickarts in the negotiations. Matteson Hamilton and Jeremy Lumbreras of Stream Realty Partners represented the unnamed landlord.
AUSTIN, TEXAS — Full-service commercial real estate company Live Oak-Gottesman has arranged a 24,320-square-foot data center lease in Austin for Axium Nanofibers, a developer of novel materials for a range of consumer and industrial applications. The tenant will occupy space within Met Center 6, located at 8201 E. Riverside Drive, within the five-building Met Center development. The lease brings Met Center 6 to full occupancy and the larger complex to 76 percent occupancy. Live Oak-Gottesman represented the property owner, publicly traded data center REIT Digital Realty Trust, in the negotiations.
The Dallas/Fort Worth industrial market is one of the healthiest in the country and dodged the recession unscathed. Texas leads the nation in job growth and has now enjoyed six years of economic growth, and the cold hard facts underpin our high-performance industrial marketplace. Some 548,000 jobs have been added to the state of Texas since 2008, and Dallas/Fort Worth ranks third among metro areas in the state for job growth, according to the U.S. Bureau of Labor Statistics. Approximately 1.2 million new residents were added to the Dallas/Fort Worth area from 2000 to 2010. Business Facilities magazine ranks Dallas as the No. 3 center in the U.S. for logistics and distribution, while Fort Worth is ranked No. 5 for aerospace and manufacturing. We know about Houston’s oil and gas-fueled economy, San Antonio’s growing entertainment and defense sector and Austin’s phenomenal growth backed by tech companies and anchored by state government. But what’s up with North Texas and the Dallas/Fort Worth economic drivers? For readers in the developer camp, they will be pleased to know that DFW was on track to have a record year of absorption in 2013 by the time we went to press with this article in …
DALLAS — HFF has arranged a refinancing loan for Casa Linda Plaza Shopping Center, a 326,868-square-foot grocery-anchored retail property in the Lakewood submarket of Dallas. Located at 9440 Garland Road, the asset was 84 percent leased at the time of the sale to tenants including Albertson’s, Pei Wei, Starbucks, Torchy’s Tacos, Petco and Wells Fargo. Originally constructed in 1945, the property is the second-oldest shopping center in Dallas. Adam Herrin of HFF arranged the four-year, floating-rate loan on behalf of the borrower, AmREIT Casa Linda LP, through GE Capital Real Estate.
MESQUITE, TEXAS — Real estate investment company Advenir has acquired a 295-unit multifamily complex in Mesquite, which will be rebranded Advenir@Mission Ranch. Constructed in 2002 and previously known simply as Mission Ranch, the Class A property offers one- to three-bedroom apartments featuring nine-foot ceilings, brushed nickel fixtures, wood plank flooring and fireplaces. Communal amenities include a fitness center, swimming pool, business center and social room. Virtu Investments sold the asset. The transaction marks the third multifamily acquisition for Advenir in the DFW Metroplex in the past six months.