HALTOM CITY, TEXAS — Lee & Associates has arranged a 79,950-square-foot industrial lease for Woods Distribution Solutions LLC in Haltom City, a suburb 8 miles north of Fort Worth. The property is a freestanding warehouse facility located at 4233 Janada St. Becky Thompson of Lee & Associates represented the tenant in the negotiations. Bob Kent of Structure Commercial represented the landlord, Talley Rents LLC.
Texas
HOUSTON — Cousins Properties, an Atlanta-based REIT, has closed a $189 million non-recourse mortgage for Post Oak Central, a Class A office complex in Houston’s Galleria submarket. Originally purchased by Cousins in February for $233 million, the property comprises three towers totaling 1.3 million square feet. The buildings are currently 94 percent occupied, up from 92 percent at the time of sale. The mortgage, which was announced in conjunction with another closed for an Atlanta-area Cousins property, entails a seven-year term and a fixed rate of 4.26 percent. HFF arranged the terms.
DALLAS AND HOUSTON — CBRE Capital Markets has arranged the sale and $43.5 million in acquisition financing for an industrial portfolio in the Dallas/Fort Worth and Houston metro areas. The 15 multi-tenant properties, which were purchased by an institutional client, total approximately 1.3 million square feet and were 84 percent occupied by a total of 48 tenants at the time of the sale. The Dallas submarkets of Great Southwest/Arlington and Northeast Dallas contain 10 of the acquired buildings, while the remaining five are located in Houston’s Southeast, Southwest and CBD submarkets. Jack Fraker, Josh McArtor, Jonathan Bryan, Heather McClain Venegoni, Tom Lynch and Paul Segreto of CBRE represented the seller, a global investment manager. Scott Lewis, Matt Ballard and Patrick Benoist of CBRE’s Dallas Debt and Equity Finance originated and secured the loan.
SAN ANTONIO — Hendricks-Berkadia has brokered the sale of Wedgwood, a high-rise independent living apartment complex in San Antonio. The property, geared toward individuals age 55 and up, features amenities such as a beauty salon, nature path, library, cabana and fish pond. Wedgwood also boasts an on-site medical team and close proximity to the River Walk and Interstates 410 and 281. Mike Miller, Chris Ross and Will Caruth of Hendricks-Berkadia’s San Antonio office represented Centennial, Colo.-based seller Wedgwood Apartments, as well as the buyer, an out-of-state private investor. Acquisition financing was provided via Michael Levell from the Berkadia Austin/San Antonio office.
HOUSTON — Colliers International has brokered the sale of Oak Park Plaza, a three-story office building totaling 53,000 square feet in the master-planned Oak Park at Westchase development of Houston. Located at 6051 N. Course Drive and in close proximity to Beltway 8, the property is LEED Silver certified. David Carter and Jay Kyle of Colliers represented the seller, WYAK Investments LLC, in the transaction. The buyer was a financial institution that will also occupy part of the facility.
HOUSTON — HFF has brokered the sale of and arranged the acquisition financing for Easton Commons, a 193,595-square-foot shopping center in Houston’s Copperfield master-planned community. The property, which was 86 percent leased at the time of the sale, is anchored by Kroger and Studio Movie Grill. Rusty Tamlyn, Ryan West and Matt Berry of HFF represented the seller, a joint venture between affiliates of The Hutensky Group and an investment account managed by American Realty Advisors. Adam Herrin, Andy Scott, Cameron Cureton and Michael George of HFF arranged the loan through BBVA Compass Bank. NewQuest Epic Investments and an institutional partner purchased the property.
FLOWER MOUND, TEXAS — BNSF Logistics, a Berkshire Hathaway company and a subsidiary of railway company Burlington Northern Santa Fe LLC, will move its headquarters to the Lakeside Business District of Flower Mound, a northern suburb of the Dallas/Fort Worth Metroplex. The tenant will relocate from its current facilities in Grapevine to the 38,000-square-foot space in Lakeside Commerce Center, located at 1600 Lakeside Parkway, in November. Transwestern’s Brett Owens and John Fulton represented landlord Exeter Property Group in the negotiations.
HOUSTON — Moody Rambin has arranged the lease of 31,182 square feet at Houston’s Clay Hempstead Business Park for Continental Stone, a construction material wholesaler. The facility, which offers both office and warehouse space, is located at 8700 Clay Road in the Northwest Near Industrial submarket. Jim Autenreith of Moody Rambin represented the tenant in the negotiations. Jeff Barbles, also of Moody Rambin, represented building owner and landlord IVEST LP.
PASADENA, TEXAS — NAI Houston has arranged a 30,000-square-foot warehouse lease for Seaway Crude Pipeline Co. in Pasadena, a southeastern suburb of Houston. The property is a freestanding facility located at 1605 Genoa Red Bluff Drive, in close proximity to the interchange of Beltway 8 and Interstate 45. John Ferruzzo and Chris Kugle of NAI Houston represented landlord Bart Industries LP in the negotiations.
IRVING, TEXAS — Fortis Property Group has acquired The Point at Las Colinas, an 18-story, 403,129-square-foot, Class A office tower in the Las Colinas submarket of Irving, approximately 13 miles northwest of downtown Dallas. The building, originally constructed in 1983 and recently remodeled, features on-site management, a full-service café, a conference center and a fitness center. The property was 98 percent leased at the time of the sale, and current tenants include Lehigh Hanson, GE Capital and Interstate Hotels. The purchase was announced with the renaming of another nearby Fortis property, the NEC Center, which will now be known as The Apex at Las Colinas Crossing. Cushman & Wakefield is marketing both properties.