DALLAS — Dallas-based Harwood International has inked a lease renewal with Jones Day, a global law firm, for 133,200 square feet of office space in the Jones Day Building in the HARWOOD district in Dallas. Harwood International was self-represented by Jihane Boury and David Roehm in the lease transaction. Russell Cosby, Brad Selner, Jon McNeil and Rachel Brown of Jones Lang LaSalle represented the tenant. Additionally, Jones Day was self-represented by Patricia Villareal, David Lowery and Mike Davitt. The office building is set to undergo renovations by Gensler, an architectural firm.
Texas
HOUSTON — CBRE has arranged the sale of the 480-unit Stone Park Apartments, a 414,564-square-foot multifamily community located along Sam Houston Parkway in northeast Houston. The community was completed in two phases in 2004 and 2007. Ryan Epstein of CBRE represented the seller in the transaction.
SAN ANTONIO — Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap, has arranged the sale The Manor at Castle Hills, a 306-unit apartment community located at 1835 Lockhill-Selma Road in the Castle Hills enclave of San Antonio. Will Balthrope, Scott Lamontagne and Drew Kile advised both the buyer and seller in the transaction.
IRVING AND ENNIS, TEXAS — Chris Pollard of LMI Capital has arranged $8 million in debt for borrowers on two multifamily properties in Texas. The loans include $5 million for the 188-unit Knollwood, an apartment community in Irving. Pollard arranged the 10-year loan with a 30-year amortization schedule through Fannie Mae. The loan includes funds for capital upgrades on the property. The other transaction was a $3 million acquisition loan for the 112-unit Townhouse Apartments in Ennis. Pollard arranged the 10-year loan with a 30-year amortization schedule.
For the past several years, the City of Laredo has focused on creating a safe environment that promotes both a high quality of life for its citizens and a business-friendly atmosphere where various industries can prosper. Although some have expressed concerns about the situation on the Mexican side of the border, the U.S. side is safer than many mid-to-large cities and our economy is booming. With our prime location on the U.S./Mexico border, access to Interstate 35, and both Union Pacific and Kansas City Southern rail lines, international trade is the city’s major industry, as reflected in our status as the nation’s No. 1 inland port on the U.S.-Mexico border. Laredo will be the first city in the nation to house Mexican Customs officials pre-clearing air cargo charters leaving Laredo. This allows the cargo to land in Mexico as “domestic cargo” which can then be sent immediately to the manufacturing facility. Additionally, with the recent discovery of the Eagle Ford Shale, a new industry is developing that will fuel Laredo’s, and the state’s, economy for years to come. Geography has certainly played well into the growth and development of the community, with more than $216 billion in annual trade passing …
AUSTIN, TEXAS — Newport Beach, Calif.-based MIG Real Estate has purchased the 99,404-square-foot Barton Oaks Plaza, a Class A office building located at 901 S. Mopac Expressway in Austin. The office building is currently 96 percent leased to tenants such as Everbank, Texas Gas and Strategic Partnerships. MIG Real Estate was self-represented in the transaction. J. Todd Mills and Casey Knust of CBRE represented the seller.
HOUSTON — CBRE has arranged the sale of Skyview at Palm Center, a 360-unit garden-style apartment community located in southeast Houston. Ryan Epstein of CBRE's Houston office represented the seller in the transaction. The 417,178-square-foot community is located near the Southeast Metro Light-Rail line that will open in October. Apartment units in the development average 1,162 square feet.
IRVING, TEXAS — Jones Lang LaSalle has arranged Lehigh Hanson Inc.'s corporate headquarters consolidation at The Point at Las Colinas, a Class A office building located at 300 E. John Carpenter Freeway in the Las Colinas submarket of Irving. Lehigh Hanson, a construction materials firm, leased 211,121 square feet of office space in the building, where it previously leased 156,897 square feet. The 18-story office building is LEED certified and features a full-service deli, on-site fitness facility, 24-hour security and concierge service. Steve Thelen, Jeff Staubach, Russell Cosby, Vice Burt and Torrey Littlejohn of Jones Lang LaSalle represented the tenant in the lease transaction. John Fancher of CBRE represented the landlord, CBRE Global Investors – Strategic Partners.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of a Comerica Bank ground lease, located along Camp Bowie Boulevard in Fort Worth. The asset's list price was $3.75 million. Alvin Mansour of Marcus & Millichap's Mansour Group, based in San Diego, represented the seller, a developer, in the transaction. The property sold to a private buyer.
HOUSTON — NorthMarq Capital has arranged first mortgage refinancing for the 92-room Med Center Extended State Limited Service Hotel, located at 3134 Old Spanish Trail in Houston. Warren Hitchcock of NorthMarq's Houston office arranged the 10-year loan with a 25-year amortization schedule through a CMBS lender on behalf of the borrower, Med Center Hospitality LLC. The hotel has an occupancy above 75 percent.