HOUSTON — Goodrich Petroleum Corp. has signed a long-term lease for the top three floors of 801 Louisiana Street, located in Houston. The company, which plans to use the 37,000-square-foot space as its new headquarters, will move into the building this summer. Its lease has an expansion option. Bob Parsley and Stan Voelkel of Colliers International represented Goodrich Petroleum in lease negotiations. Jay Kyle, also of Colliers, represented the landlord, TPMC. The building recently under went significant interior renovations, with exterior improvements expected to be complete in the coming months.
DENTON, TEXAS — Stan Johnson Co. has completed the sale of a freestanding Walgreens store located on a 1.73-acre lot in Denton. The 14,820-square-foot building is 100 percent leased to Walgreens Co. Gill Warner, Rod Pickney and Chad Byerly of Team Warner of Stan Johnson Co. represented the seller, a retail developer. The team also represented the buyer, an institutional investor, in the $4.45 million transaction.
HOUSTON — CB Richard Ellis (CBRE) has brokered the sale of approximately 1.15 acres of land on Yorktown Crossing Parkway in Northwest Houston. CS Copperfield Ventures, LTD, a Buffalo Wild Wings franchise group, purchased the land from Satya, Inc. Matt Keener, Russell Janicek and Mark Raines of CBRE represented the buyer. Josh Jacobs and Chris Pitts of Page Partners represented the seller.
HENDERSON, TEXAS — A private investor recently purchased a 77-room Best Western Inn in Henderson for an undisclosed amount. Michael Yu and Rahul Bijlani of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, also a private investor. Yu and Bijlani also helped the buyer secure financing.
PASADENA, TEXAS — Cadence McShane Construction Co. has completed Kruse Replacement Elementary School, a 99,000-square-foot elementary school located in the 400 block of Park Lane in Pasadena. The school features 44 classrooms, 17 science laboratories, a gymnasium with a stage, a library, a cafeteria and administrative offices. Cadence McShane also completed the landscaping for the property and constructed a 136-space parking lot. The project architect was Dansby & Miller Architects. The school was constructed on behalf of the Pasadena Independent School District, which operates 34 elementary schools, eight middle schools, 10 intermediate schools, five high schools and four alternative education schools.
SPRING, TEXAS — The J. Beard Real Estate Company has brokered the purchase of a 31,799-square-foot land parcel, located at the intersection of Sawdust and Grogan’s Mill roads in Spring. The buyer, Gera Investments, plans to build a Burger King on the property. Zach Armstrong of J. Beard represented the seller, Woodforest National Bank. The acquisition price was not disclosed.
AUSTIN, TEXAS — Grubb & Ellis Realty Investor has leased 24,335 square feet of office space at The Avallon, a five-building, Class A office complex located in Austin. Trion World Network will occupy space within Building IV, which is situated at 10814 Jollyville Rd. Lauren Spaeth of Grubb & Ellis’ Austin office represented the landlord, Grubb & Ellis Realty Investors, in lease negotiations. Chris Perry and Sloan Spaeth of Aquila Commercial represented Trion World Network. The Avallon contains approximately 318,000 square feet of office space and is currently 97 percent leased.
DALLAS — Henry S. Miller Brokerage has completed a lease for the relocation and expansion of USA Pallet & Logistics’ headquarters. Currently located in South Dallas on Bronze Way, USA Pallet & Logistics will relocate to 2829 Sea Harbor in a 233,529-square-foot, single-tenant building. Situated on 9.06 acres, the new building includes 5,000 square feet of office space and tilt-wall construction. USA Pallet & Logistics was represented by Pete Richardson and Drew Richardson of Henry S. Miller Brokerage in lease negotiations. The landlord, TA Reality Associates Fund, was represented by Jim Brice of Holt Lunsford Commercial.
LUBBOCK, TEXAS — Alliant Capital has provided a $3.04 million loan for the refinancing of a Lubbock apartment community. Raider Station is a 103-unit, garden-style property that comprises nine, two-story buildings. The loan carries a 5.67 percent interest rate, a 10-year term with a 30-year amortization schedule, and 9.5 years yield maintenance. The borrower was not disclosed
HOUSTON — BMC Capital has originated a $4.35 million loan for the refinancing of Spring Branch Apartments, a 140-unit multifamily community located in Houston. The loan carries a 10-year term with a 27-year amortization schedule and a fixed interest rate. The borrower and lender were not disclosed. In addition, BMC originated a $510,000 construction-to-permanent loan for the acquisition and renovation of a restaurant property located in Euless, Texas. The building will be converted to a Golden Chick Restaurant. The loan features a 5-year term with a 25-year amortization schedule, a fixed interest rate and a 75 percent loan-to-value ratio.