Texas

ALLIED GROUP PURCHASES 152,800 SF INDUSTRIAL FACILITY

by admin July 14, 2011

MISSOURI CITY –– The Allied Group has purchased Building 3, a 152,800-square-foot industrial facility, in the Lakeview Business Park located at 14623 Fairway Pines Drive. The Allied Group also purchased 31 acres of land in addition to Building 3. The facility will house The Allied Group’s subsidiary Warren Alloy Valve & Fitting Co. Alexander Reilly and Bo Pettit of Boyd Commercial represented the sellers, Trammell Crow Company and affiliates of Crow Holdings Realty Partners IV, and Matt Minnis of CB Richard Ellis and Jim Vann of J. Vann Realty represented The Allied Group.

July 14, 2011

ION GEOPHYSICAL RENEWS 115,000 SF LEASE IN CITYWESTPLACE

by admin July 14, 2011

HOUSTON –– ION Geophysical Corp. has renewed its lease for its 115,056-square-foot office space in CityWestPlace, a 1.47 million-square-foot office campus in Houston. Chip Colvill, Michael Anderson and Win Haggard Jr. of Colvill Office Properties represented the landlord, TPG/Cal/STRS, a joint venture of Thomas Properties Group and the California State Teachers’ Retirement System. Mark O’Donnell of Studley Houston headed lease negotiations on behalf of ION Geophysical. CityWestPlace has tenants ranging from a hair salon to a laundry service spread across its 30 acres.

July 14, 2011

Industrial Texas

NORTHMARQ ARRANGES $16.5M MORTGAGE FOR 11 BUILDING PORTFOLIO

by admin July 14, 2011

DALLAS –– NorthMarq Capital has arranged first mortgage financing of $16.5 million for an 11 building portfolio spread across Dallas and Houston. The properties make up 1.6 million square feet of industrial space. Bart Dickinson of NorthMarq’s Dallas office arranged the loan on a 10-year term with a 15-year amortization schedule through its correspondent relationship with Nationwide Insurance.

July 14, 2011

Texas

MURPHY OIL USA PURCHASES 1.64-ACRE TRACT IN MISSOURI CITY

by admin July 14, 2011

MISSOURI CITY –– Murphy Oil USA has purchased a 1.64-acre parcel of land at 6302 Hwy. 6 in Missouri City for a new full service station. Mark Sondock of New Quest represented Murphy Oil and John Novak of Colliers International represented the seller, Missouri City 6, LP.

July 14, 2011

Industrial Texas

FEDEX BREAKS GROUND ON 102,000 SF SITE IN CENTRAL TEXAS

by admin July 14, 2011

HEWITT –– FedEx Corp. has broken ground on a 102,000-square-foot distribution facility in central Texas. The site doubles its current capacity with 96 van positions, and is expandable to 120. The new space should allow volume increase, which could lead to increase in hiring for the site, according to FedEx.

July 14, 2011

Multifamily Texas

BOSTON CAPITAL INVESTS IN MULTIFAMILY PROPERTY IN RED OAK

by admin July 14, 2011

RED OAK –– Boston Capital has invested in the rehabilitation of Red Oak Apartments, a 116-unit multifamily development for families earning 60 percent or less of the Area Median Income. The general partner in the transaction, Highland Property Development, has been working with Red Oak’s government to widen Red Oak Road, which is the access point for Red Oak Apartments. The property has been rehabilitated with tax credit equity from the Low Income Housing Tax Credit program. Boston Capital has invested in 20,679 units of affordable houses in Texas.

July 14, 2011

Office Texas

CORNERSTONE MORTGAGE CO. TO RENEW 50,000 SF LEASE

by admin July 13, 2011

HOUSTON –– Cornerstone Mortgage Co. has renewed its lease on a 49,574 square-foot property. The site is located at 1177 West Loop South in Houston. Chris Lewis of Griffin Partners, a commercial real estate company based in Houston, represented Cornerstone. Marshall Clinkscales of Colliers represented the tenant in the transaction.

July 13, 2011

Seniors Housing Texas

SENIOR HOUSING COMMUNITY IN SOUTHLAKE GETS $16M IN FINANCING

by admin July 13, 2011

SOUTHLAKE –– Isle of Watermere, a senior housing community owned by South Bay Partners, received $16 million in fixed-rate, permanent financing through the Fannie Mae DUS program by Oak Grove Capital. The Isle of Watermere is a 92-unit community and is managed by Life Care Services. Heidi Brunet of Oak Grove Capital originated the 10-year term loan with a 30-year amortization schedule.

July 13, 2011

Retail Texas

NORTHMARQ ARRANGES $1.6M FINANCING FOR QUIK TRIP SITE

by admin July 13, 2011

DALLAS –– NorthMarq Capital has arranged $1.6 million in financing for 345 West FM-544, a 4,900-square-foot property fully leased to Quik Trip. The financing was based on a 17.5-year term and a 17.5-year amortization schedule. Phillip Bankhead of NorthMarq’s Dallas office arranged the first mortgage financing through American Fidelity.

July 13, 2011

Multifamily Texas

VENTERRA REALTY PURCHASES TWO MULTIFAMILY COMMUNITIES

by admin July 12, 2011

STAFFORD — Venterra Realty purchased Shadowbrooke and Silverbrooke, two multifamily communities totaling 552 units, in separate transactions. Craig LaFollette, Todd Stewart, Todd Marix, Tre Banks and Chris Curry, all of Holliday Fenoglio Fowler L.P., represented the sellers: Shadowbrooke Apts, Ltd. and Shadowbrooke Partners, L.P. and CTDB Funding Co., a joint venture between Captec Financial Group and Drawbridge Special Opportunities Fund. In addition to representing the sellers, Cortney Cole of HFF helped secure a fixed-rate acquisition loan through PPM Finance, Inc. Shadowbrooke is located at 1025 Dullies Ave. and Silverbrooke is located at 1020 Brand Ln. in Stafford, about 18 miles southwest of downtown Houston.

July 12, 2011

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