Texas

Q&A with Trevor Koskovich, President of Investment Sales for NorthMarq

by Sarah Daniels March 2, 2021

NorthMarq has added a multifamily investment sales team to its Charlotte and Raleigh, N.C., offices. The new team, which consists of Andrea Howard, Jeff Glenn, John Currin, Allan Lynch and Caylor Mark, all formerly of JLL, brings NorthMarq’s investment sales locations to 18. This addition also allows NorthMarq to expand its visibility, Carolinas coverage and service offerings to clients as the firm sets its sights on high-growth markets. Trevor Koskovich, NorthMarq’s president of investment sales, sat down with Finance Insight to discuss the multifamily investment sales market and his new five-person team. Finance Insight: What does this new team and location add to the NorthMarq platform and breadth of services? Koskovich: The new Raleigh and Charlotte locations allow NorthMarq to be in lower-regulation, high-growth U.S. regions. From an investment sales perspective, we’re really targeting high-growth markets for population movement and investment sales transaction volume. Raleigh and Charlotte continue to be part of this conversation, and we’re super excited about our new team’s ability to service those markets. This new team will help us drive more business through the Southeast and in overlapping markets, including Nashville, Chattanooga and north Florida. These team members are an integral part of our growth platform, …

March 2, 2021

Acquisitions Multifamily Oklahoma Texas

Elkhorn Capital Acquires Two Apartment Complexes Totaling 158 Units in Oklahoma City

by Taylor Williams March 1, 2021

OKLAHOMA CITY — Dallas-based investment firm Elkhorn Capital Partners has acquired Arbor Glen and Arbor Vista, two contiguous apartment complexes totaling 158 units in Oklahoma City. Recently renamed Parkview Apartments 1 and 2, the properties total 96 and 62 units, respectively, in one- and two-bedroom floor plans. Elkhorn Capital is planning to consolidate the complexes into one property and to implement a value-add program to unit interiors and amenity spaces. The seller was not disclosed

March 1, 2021

Acquisitions Multifamily Texas

Greystone Arranges Sale of 137-Unit Apartment Community in East Dallas

by Taylor Williams March 1, 2021

DALLAS — Greystone has arranged the sale of Residences at White Rock Lake, a 137-unit apartment community in East Dallas. According to Apartments.com, the property was built in 1970 and features one- and two-bedroom units, as well as a pool and onsite laundry facilities. Mark Allen and Chibuzor Nnaji of Greystone’s Investment Sales Group represented the seller, Texas-based Arcturus Investments, in the transaction. The duo also procured the buyer, a locally based limited liability company.

March 1, 2021

Industrial Leasing Activity Texas

Rediform Extends 100,808 SF Industrial Lease Near Fort Worth

by Taylor Williams March 1, 2021

COPPELL, TEXAS — Rediform, a supplier of office products, has extended its 100,808-square-foot industrial lease at 555 Airline Drive in the Fort Worth suburb of Coppell. According to LoopNet Inc., the cross-dock property was built in 1990 and features 24-foot clear heights and 18,646 square feet of office space. Sean Smith, Evan Hammer and Jade Scott of Whitebox Real Estate represented Rediform in the lease negotiations. Rebel Blackwell represented the landlord, Link Industrial Properties, on an internal basis.

March 1, 2021

Leasing Activity Office Texas

CarOffer Signs 60,000 SF Office Sublease in Metro Dallas

by Taylor Williams March 1, 2021

ADDISON, TEXAS — CarOffer, an online automotive trade platform, has signed a 60,000-square-foot office sublease at 15601 Dallas Parkway in the northern suburb of Addison. CarOffer, which is subleasing the space from date center services provider Cyxtera Technologies, is relocating and expanding from a 27,000-square-foot space in Plano. Clay Vaughn and Preston Lynn of CBRE represented CarOffer in the lease negotiations. Brian Brooks and Brian Brtalik of Foundry Commercial represented Cyxtera. Chris Taylor with Cushman & Wakefield and Trey Smith with CBRE represented the undisclosed owner of the building.

March 1, 2021

Development Retail Texas

Gulf Coast Commercial Unveils Plans for 38,000 SF Retail Redevelopment Project in Houston

by Taylor Williams March 1, 2021

HOUSTON — Locally based developer Gulf Coast Commercial Group has unveiled plans for The Common, a project that will redevelop a retail strip center in one of Houston’s Opportunity Zones into a 38,000-square-foot lifestyle hub. Houston-based Schooley Design is the architect of the project, which will feature multiple retail and restaurant concepts, as well as a central common area for events. Construction is scheduled to begin in March and to be complete in the fall.

March 1, 2021

Industrial Leasing Activity Texas

JAMCO Group Signs 500,000 SF Industrial Lease in Laredo, Texas

by Taylor Williams February 26, 2021

LAREDO, TEXAS — The JAMCO Group, a locally based provider of customs and logistics services, has signed a 500,000-square-foot industrial lease in the South Texas city of Laredo. Beginning on June 1, The JAMCO Group will occupy the entirety of a building owned by California-based Majestic Real Estate that was originally developed as a build-to-suit for Mattel. Carlo Molano of Forum CRE represented the tenant in the negotiations for the lease, which is the largest industrial deal of its kind in Laredo in 20 years.

February 26, 2021

Development Hospitality Texas

Extended Stay America Opens Three Hotels Totaling 291 Rooms in Oklahoma

by Taylor Williams February 26, 2021

BARTLESVILLE, MCALESTER AND LAWTON, OKLA. — Extended Stay America (NASDAQ: STAY) has opened three hotels totaling 291 rooms in Oklahoma. Dallas-based Provident Realty Advisors owns the properties, and Plano-based Aimbridge Hospitality manages them. The properties are located in the northern city of Bartlesville, the central city of McAlester and the southwestern city of Lawton. All hotels feature fitness centers and onsite laundry facilities.

February 26, 2021

Acquisitions Industrial Texas

Colliers Negotiates 160,778 SF Industrial Sale-Leaseback in Northwest Houston

by Taylor Williams February 26, 2021

HOUSTON — Colliers International has negotiated a sale-leaseback at Dynamic Glass Industrial Park in Houston. The 160,778-square-foot, four-building development is situated on nine acres on the city’s northwestern side. David Carter and John Nicholson of Colliers represented the seller and tenant, locally based custom fabricator Dynamic Glass, in the transaction. California-based TCI Properties represented the buyer, Gordon Creekside, which negotiated a 15-year lease with Dynamic Glass at closing.

February 26, 2021

Industrial Leasing Activity Texas

Arizona Partsmaster Signs 68,342 SF Industrial Lease in Metro Houston

by Taylor Williams February 26, 2021

MISSOURI CITY, TEXAS — Arizona Partsmaster, a provider of property maintenance and repair supplies, has signed a 68,342-square-foot industrial lease at Waypoint Business Park in Missouri City, a southwestern suburb of Houston. Payson MacWilliam, Jon Lindenberger and Paul Dominique of Colliers International represented the tenant in the lease negotiations. Justin Robinson, Matteson Hamilton and Woody Hillyer of Stream Realty Partners represented the landlord, a partnership between 4M Investments and Clarion Partners. Waypoint Business Park encompasses 708,944 square feet of industrial space across four buildings.

February 26, 2021

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