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.
ATLANTA — Atlanta-based Cortland Partners has acquired three apartment communities totaling 1,037 units in Texas and Florida. Cortland purchased the communities for $130.3 million in three separate transactions. Cortland worked with Berkadia Commercial Mortgage LLC and Ares Commercial Real Estate Corp. to place the debt capital for these transactions. The first acquisition is Saxon Woods, a 510-unit community located in Dallas, for a total capital investment of $60.4 million. The second acquisition is Halstead, a 301-unit complex located in Houston, for a total capital investment of $47.4 million. The final acquisition is the Reserve at Deerwood, a 226-unit multifamily community located in Jacksonville, for a total capital investment of $22.5 million.
IRVING, TEXAS — Colliers International has arranged the sale of Allstate’s Irving campus, a three-building office community comprising 458,338 square feet. The buildings are located at 8701-8711 and 8675 Freeport Parkway and 8901 Esters Blvd. in Irving. Cole Real Estate purchased the property from Allstate Insurance Co. in a sale-leaseback transaction. Creighton Stark and Ben Lurie of Colliers’ Dallas office, along with Bill Fausone of Colliers’ Chicago office, represented the seller. The buyer did not have a representative. Allstate has committed to a new, long-term lease at its Irving campus as part of the transaction.
HOUSTON — Angelic Real Estate has arranged a $24.4 million loan on a seven-property industrial portfolio in Houston known as the Jaymar portfolio. The three-year, floating rate loan includes an extension option for up to two additional years. Interra Properties has taken over property management and leasing responsibilities and has increased occupancy to 90 percent as of the loan closing. Gabriel Silverstein and Louis D’Lando of Angelic Real Estate led the financing team. Northstar Realty Finance Corp. was the lender in the transaction.
MCALLEN, TEXAS — HFF has closed the sale of Neuhaus Tower, a 17-story, 242,693-square-foot office tower located at 200 S. 10th St. in McAllen. HFF represented the seller, an affiliate of Brookfield Asset Management Inc. HFF also arranged acquisition financing on behalf of the buyer, Cielo Realty Partners. The property is leased to multiple tenants, with JPMorgan Chase Bank anchoring the property.
DALLAS — Fortis Property Group LLC has plans to renovate and update The Colonnade, a 1 million-square-foot office campus located in Dallas. New leases from RMG Networks at 32,000 square feet, alongside leases totaling 28,000 square feet bring the property to 92 percent occupancy. During the first phase of the property enhancement program, Fortis plans to renovate and remodel the west side of the main atrium with new finishes, as well as create new, ready-to-lease spaces on various floors featuring first class finishes and updated common areas and restrooms. Staffelbach Design Associates is the architect for the planned improvements, which are slated for completion in October. The three towers creating The Colonnade are connected via a five-story, barrel-vaulted glass atrium featuring restaurants, convenience amenities, seating areas, landscaping and water features. Tenants enjoy access to a customer service center, The Colonnade Club, fitness center, video conferencing center, an eatery, a convenience store and 24/7-onsite security. The Colonnade has been recognized in the region by the Building Owners & Managers Association’s Outstanding Building of the Year program and is LEED Silver certified. Cushman & Wakefield handles The Colonnade’s leasing responsibilities.
IRVING AND DEER PARK, TEXAS — HFF has arranged approximately $46 million in acquisition financing for the 560-unit Vistas at Hackberry Creek in Irving and the 216-unit Deer Park Apartments in Deer Park. Vistas at Hackberry Creek is located at 2527 W. Royal Lane and is 95.5 percent occupied. Deer Park Apartments is located at 401 W. Pasadena Blvd. and is 94 percent occupied. HFF arranged the loans on behalf of the borrower, Pure Multi-Family REIT LP. HFF placed the $29.5 million, 15-year loan for Vistas at Hackberry Creek with Aegon USA Realty Advisors LLC. HFF secured a separate $16.5 million, 10-year loan for Deer Park Apartments through Freddie Mac's CME program. John Brownlee of HFF led the team in arranging the loans.
KELLER, TEXAS — Cadence McShane Construction Co. has completed the 78-unit, 51,000-square-foot Legacy at Bear Creek in Keller. The assisted living and memory care facility is located at 200 Keller Smithfield Road S. in Keller Town Center, a 340-acre mixed-use development. PinPoint Commercial LP and Thrive Senior Living co-developed the project.