The Houston metro retail market is attracting retailers and investors from across the world because of its booming economy and impressive job growth, primarily in the energy and healthcare sectors. Since 2012, Houston’s local employment has grown, on average, around 4 percent year over year. As developers continue building and leasing large office and medical developments, notably in The Woodlands and Energy Corridor, retail space has been and will continue to be in high demand. ExxonMobil is currently developing its 385-acre campus near the intersection of Interstate 45 and the Hardy Toll Road in The Woodlands. The development alone has more than 3,000 workers on site every day. With completion slated for 2015, nearly 10,000 workers will re-locate to the campus from the Houston area, as well as from Virginia and Ohio. Another notable development recently announced is ConocoPhillips’ 850,000-square-foot lease of Trammell Crow’s Energy Center Three and Four in the Energy Corridor. Energy Center Three, with expected occupancy in the second quarter of 2015, and Energy Center Four, with expected delivery in the second quarter of 2016, will house approximately 2,100 employees in the submarket. In addition to ConocoPhillips, The University of Texas MD Anderson recently acquired approximately 35 …
DALLAS — McCarthy Building Cos. Inc. has completed the AT&T Performing Arts Center Information Center, a 1,800-square-foot facility located on the west end of Sammons Park in the Dallas Arts District. Foster + Partners is the architect for the project. The facility features a box office, AT&T Experience Wall and a café operated by Pearl Cup Coffee. Justin Nunn of McCarthy is the project manager.
AUSTIN, TEXAS — CBRE has brokered the sale of Austin Industrial Park and Wall Street Business Park, two complexes totaling 163,750 square feet, to Industry Capital Advisors LLC. Austin Industrial Park is a 93,750-square-foot, 54-unit complex located at 5214 Burleson Road in Austin’s Southeast submarket. The property is currently 84 percent occupied. Wall Street Business Park is a 70,000-square-foot, 44-unit complex located at 8900-8906 Wall St. within the Walnut Creek Business Park in Austin. The property is currently 81 percent occupied. Mark Emerick and John Barksdale of CBRE represented the seller, RLA Real Estate.
HOUSTON — Cobalt Industrial REIT III has purchased a 96,285-square-foot warehouse facility at 14516 Heathrow Forest Parkway. John Ferruzzo of NAI Houston and Michael Morgan of Interstate Tenant Advisors represented the seller, Primesource Building Products, in the transaction. Ed Bane and Jon Michael, also of NAI Houston, represented the buyer.
DALLAS — Stockdale Investment Group has purchased The Shops of Highland Park, a 45,000-square-foot retail property located at 4200 Oak Lawn Ave. in Dallas. The center is home to retailers and restaurants including La Duni, Carbone’s, Flywheel and The Dry Bar. The property also includes an adjacent 50,000-square-foot parking lot. The Shops of Highland Park has undergone two major renovations since its original development in 1940. The seller was Corrigan Properties, the original owner of The Shops for more than 70 years.
DALLAS — Netherland, Sewell & Associates Inc. (NSAI) and Turner Construction Co. have signed leases with Cousins Properties Inc. at 2100 Ross, an 844,000-square-foot, Class A office tower located at Ross Avenue and Pearl Street in the Dallas Arts District. The two leases will total 90,000 square feet and take up three floors of the 33-story building. The property is currently 81 percent occupied, and 130,000 square feet of the complex is still available for lease. Construction is currently underway on new amenities, such as a complimentary Pulse Fitness center, an improved conference center, updated common areas in the lobby and restaurant improvements. Bill Brokaw, Cynthia Cowen and Mark Dickenson of Cushman & Wakefield represented 2100 Ross in the two lease deals. Sanders Thompson and Alan Harrington of Transwestern represented NSAI, and Phil Puckett and Harlan Davis of CBRE represented Turner Construction.
STEPHENVILLE, TEXAS — Balfour Beatty has entered into an agreement to develop a 514-bed, four-story student housing project located adjacent to the University Dining Center on Tarleton State University’s main campus in Stephenville. Tarleton State is a member of the Texas A&M University System. BOKA Powell Architects is in charge of design. Balfour Beatty Campus Solutions is the lead developer on the $25 million project, and Balfour Beatty Construction will act as construction partner. The university will operate and maintain the building, which includes management of all resident activities. The building will feature community spaces, kitchens and study areas on each floor. The project has been financed through the issuance of tax-exempt bonds underwritten by RBC Capital Markets. An affiliate of Collegiate Housing Foundation owns the on-campus project under a 32-year ground lease with the university. The project is scheduled to break ground later this month and open in August 2014.
AUSTIN, TEXAS — CBRE has arranged a 2,200-square-foot lease for VERTS, an Austin-based Mediterranean-style restaurant, located at 1801 E. 51st St. in Austin’s Mueller Market District. The restaurant will open in late July. John Heffington with CBRE represented the tenant. Britt Morrison with the Weitzman Group represented the landlord, Catellus. This restaurant will be VERTS seventh location in the Mueller neighborhood.
FORT WORTH, TEXAS — Brewsters Burger Bar and Chiro One Wellness Centers have signed leases to occupy space at West 7th, a mixed-use development located at the intersection of West Seventh Street and University Drive in Fort Worth. Brewsters Burger Bar will open a 2,969-square-foot location on Crockett Street across from LA Fitness. The Duncan Design Group of Dallas will design the space. Steve Brown of the BPSB Corp. will operate the restaurant, which is slated to open in December. Roger Smeltzer of Vision Commercial Real Estate represented the tenant, and Perren Gasc of Centennial Retail Services represented the landlord in the transaction. Chiro One Wellness Centers will occupy a 2,563-square-foot space situated between Moda Aveda SalonSpa and the Boardroom Salon for Men on Seventh Street. The center is slated to open in the fourth quarter of this year. Travis Ewert with Colliers International represented the tenant, and Karly Kilroy of Cypress Equities represented the landlord in the transaction.
ARLINGTON AND WICHITA FALLS, TEXAS — SkyWalker Property Partners has acquired two commercial properties in off-market transactions. The properties include the 28,211-square-foot Vandergriff Town Center at 200 N. Mesquite St. in Arlington and the 22,100-square-foot Wichita Falls Shopping Center at 2600 Central Freeway in Wichita Falls. Vandergriff Town Center features 13,327 square feet of street-level restaurant and retail space and 14,694 square feet of office space formerly occupied by a single tenant. SkyWalker Property has partnered with General Assembly Inc. on the acquisition. General Assembly plans to move its headquarters into a 5,893-square-foot space on the upper floor in September. The property is 63 percent occupied. Current ground-floor tenants of the space include a 4,100-square-foot Grease Monkey Burger Shop, a 2,580-square-foot Capital One Bank and a 1,577-square-foot Maren Karsen Salon. SCM Real Estate Services will be in charge of leasing. The 2.6-acre Wichita Falls Center was acquired from a community bank. The property is currently 20 percent occupied by a 2,400-square-foot H&R Block and a 1,800-square-foot GameStop. Chris Mendez with SCM will be the new leasing agent.