Texas

ZIEGLER COOPER COMPLETES DESIGN FOR $7.5M REDEVELOPMENT PROJECT

by admin June 12, 2013

HOUSTON — Ziegler Cooper Architects has completed a $7.5 million redevelopment project for a 273,000-square-foot, Class A office, located at 515 Post Oak in Houston. Columbia Property Trust owns the property. When Columbia acquired 515 Post Oak in 2004, the building was leased by a single tenant under a lease that expired in 2011. The redevelopment of the property includes an increase in rentable area by 12,000 square feet, a new major building entrance and vehicular drop-off, garage pedestrian entry, atrium skylights and upgraded finishes and strategies preparing the building to achieve the LEED Existing Building certification.

June 12, 2013

MILLER REPRESENTS BUYER IN ACQUISITION OF TWO APARTMENT COMPLEXES

by admin June 12, 2013

DALLAS — Lane Kommer of Henry S. Miller Brokerage has arranged the sale of two apartment complexes in the Oaklawn area of Dallas: The Versailles Apartments located at 4625 Cedar Springs Road and the Marrakesh Apartments located at 2930 Kings Road. The communities have a combined 66,838 square feet of rentable space and a total of 77 units. Current occupancy is around 95 percent.

June 12, 2013

Retail Texas

MARCUS & MILLICHAP ARRANGES SALE OF THREE BURGER KINGS IN TEXAS

by admin June 12, 2013

WESLACO, TEXAS — Marcus & Millichap Real Estate Investment Services has sold three Burger King restaurants in Texas. These net-leased properties include two Weslaco restaurants totaling 7,775 square feet and a 4,330-square-foot restaurant in San Benito. Philip Levy of Marcus & Millichap’s Fort Worth office represented the sellers, all private investors, as well as the buyer, Coastal King Ltd., in the transactions. All three properties have zero landlord responsibilities and a franchise guarantee from Hart Enterprises.

June 12, 2013

Industrial Texas

STREAM REALTY BROKERS TWO LEASES AT INTERWEST BUSINESS PARK

by admin June 12, 2013

SAN ANTONIO — Stream Realty Partners has brokered two industrial leases totaling more than 21,000 square feet in Interwest Business Park, an industrial campus located at 6800 Alamo Downs Parkway in northwest San Antonio. Jason Schnittger of Stream Realty represented the landlord, DRA Advisors Inc., in both transactions. RecoverCare, represented by Briane Ritchie of Pointline Inc., signed a new lease for 11,620 square feet, and Family Endeavors renewed an existing lease at the property for 9,800 square feet. Stream Realty was awarded leasing and management of the business park by DRA Advisors in June 2012.

June 12, 2013

Office Texas

LONE STAR GROUP SIGNS LEASE AT WELLS FARGO BANK OFFICE BUILDING

by admin June 12, 2013

HOUSTON — Boxer Property concluded lease negotiations with Lone Star Group for a 12,803-square-foot lease in the Wells Fargo Bank office building, located at 12941 N. Freeway in Houston. Rami Alablli of Keller Williams represented Lone Star Group in the transaction. Brian Hines arranged the lease on behalf of Boxer Property.

June 12, 2013

Office Texas

MOODY RAMBIN INTERESTS BROKERS OFFICE SALE

by admin June 11, 2013

HOUSTON — Moody Rambin Interests has arranged the sale of Park Green I, a 90,904-square-foot office building located at 8300 Bissonnet St. in Houston. Rob Chandler of Moody Rambin represented the seller, Khoshbin 8300 LLC, in the transaction.

June 11, 2013

Industrial Texas

DURO-LAST OPENS DISTRIBUTION CENTER IN CARROLLTON

by admin June 11, 2013

CARROLLTON, TEXAS — Duro-Last Inc., a Michigan-based roofing systems manufacturer, has opened a new 89,430-square-foot distribution center in Carrollton to serve its central U.S. clients. The new center is located at 2940 Eisenhower St. in the Frankford Distribution Center I, a 153,200-square-foot campus owned by Duke Realty Corp. Duke Realty was self-represented by Matt Hyman. Joe Santaularia and Brock Wilson of Bradford Commercial Real Estate Services represented the tenant in the long-term lease deal.

June 11, 2013

Retail Texas

M&M ARRANGES SALE OF BACKWOODS EQUIPMENT STORE

by admin June 11, 2013

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of a 17,645-square-foot retail property triple-net leased to Backwoods Equipment Co. The property is located at 2727 W. 7th St. in Fort Worth. Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, River Sharpe Holdings Ft. Worth, a limited liability company, in the transaction. Backwoods has more than 11 years remaining on its lease.

June 11, 2013

Office Texas

ENTERPRISE PICKS UP OFFICE SPACE IN IRVING

by admin June 11, 2013

IRVING, TEXAS — Enterprise Holdings has leased 27,232 square feet of office space in Airport Corporate Center, located at 4201 N. State Highway 161 in Irving. The new location will house 100 employees serving more than 150 local car sites, as well as Enterprise's north Texas commercial truck and car sales operations. Cribb Altman of Cushman & Wakefield's Dallas office represented Enterprise in the transaction. The landlord is Atlas CP LLC. Enterprise will move into its new space in early September. Enterprise Holdings is the operator of Enterprise Rent-A-Car, Alamo Rent-A-Car and National Car Rental.

June 11, 2013

Hospitality Texas

ROYAL SONESTA IN HOUSTON TO UNDERGO $25M RENOVATION

by admin June 10, 2013

HOUSTON — The Royal Sonesta Hotel Houston will soon undergo a $25 million renovation, featuring upgrades to the lobby, all 485 guestrooms, its restaurant and bar and its 50,000 square feet of event space. Existing amenities such as the rooftop swimming pool will be enhanced as well. Looney & Associates is designing the hotel renovations. The hotel is located in Houston's Uptown District, adjacent to the Houston Galleria. A majority of the work is slated for completion this fall.

June 10, 2013

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