Texas

Global Finance Firm Signs 250,000 SF Office Lease at 600 Travis Street in Downtown Houston

by Taylor Williams July 14, 2020

HOUSTON — An undisclosed global financial services firm has signed a 250,000-square-foot office lease at 600 Travis Street, a 1.7 million-square-foot building in downtown Houston that is also known as the JPMorgan Chase Building. The 75-story property, which is the tallest building in the city, will soon be renovated to upgrade its lobby, exterior plaza, collaborative workspace and conference center. Michael Anderson, Diana Bridger and Margaret Elkins of Cushman & Wakefield, along with Chanse McLeod of law firm Hunton Andrews Kurth LLP represented the landlord, a partnership between Hines and Cerberus Capital Management, in the lease negotiations.

July 14, 2020

Leasing Activity Office Texas

SkyWalker Property Partners Expands, Relocates DFW Office Headquarters

by Taylor Williams July 14, 2020

GRAND PRAIRIE, TEXAS — Locally based investment firm SkyWalker Property Partners has expanded and relocated its metroplex office headquarters to Brookhollow Riverside, a 119,314-square-foot building in Grand Prairie that the company originally purchased in 2006. SkyWalker relocated from Arlington, where it has operated for the past 12 years, and has since added three full-time professionals to its team.

July 14, 2020

Leasing Activity Office Texas

Poynter Commercial Negotiates 20,270 SF Office Lease in Houston

by Taylor Williams July 14, 2020

HOUSTON — Poynter Commercial Properties Group has negotiated a 20,270-square-foot office lease expansion at 11700 Katy Freeway in Houston. The 14-story property spans 325,000 square feet. Kevin Poynter and Peyton Poynter of Poynter Commercial represented the landlord, an affiliate of ATCAP Partners, in the lease negotiations. David Bale and Don Foster of JLL represented the tenant, human resource consulting firm Robert Half International.

July 14, 2020

Acquisitions Retail Texas

Marcus & Millichap Arranges Sale of 14,218 SF Retail Center in Roanoke, Texas

by Taylor Williams July 14, 2020

ROANOKE, TEXAS — Marcus & Millichap has arranged the sale of Roanoke Corners, a 14,218-square-foot retail center in Roanoke, located north of Fort Worth. The property was fully leased at the time of sale to tenants such as AT&T, Donut Paradise and Cinch Cleaners. Philip Levy of Marcus & Millichap represented the seller, a partnership, in the transaction. Levy also procured the buyer, a private investor. Both parties requested anonymity.

July 14, 2020

Content Partner Features Lument Multifamily RED Capital Group Texas Texas & Oklahoma Feature Archive

Revenue Volatility: Friend or Foe to San Antonio Multifamily Investors?

by Sarah Daniels July 14, 2020

During the great multifamily bull market of this passing decade, investors became increasingly comfortable with exposure to highly volatile metropolitan markets. In an era when it was difficult to make a bad investment decision, the most lucrative were, in most cases, located in areas of the country known for their roller-coaster real estate cycles. Indeed, it seemed as though a purchase capitalization rate could never be too low if an asset was located in one of the primary markets. Volatility was an ally, not a foe — an investment feature, not a bug. With the onset of the COVID-19 pandemic and its attendant recession, however, volatility appears to have switched allegiances. The winds now favor, perhaps, the stable, predictable tortoises over the high-flying hares. In high-cost markets, the number of renters considering relocating to more affordable area codes has skyrocketed, and in the work-from-home era, this has become more of an achievable goal than an inchoate urge. For example, the San Francisco Apartment Association reported that 7.5 percent of tenants in the city — where rents increased at a 6.1 percent compound annual rate since 2010 — simply broke their leases in the three months that ended in May, moving …

July 14, 2020

Market Reports Oklahoma Retail Texas Texas Market Reports

Far North Oklahoma City Retail Market Hits Its Stride

by Taylor Williams July 14, 2020

By Stuart Graham, Senior Vice President, CBRE; Mark Inman, Senior Vice President, CBRE; and Kendra Roberts, Associate, CBRE The Oklahoma City retail market has had a growing and changing landscape over the past few years as the sector’s healthy fundamentals continue to draw both local and national investors. Although much of the growth has been focused on the downtown Oklahoma City area, we are beginning to see a new hotspot emerge in the Far North neighborhoods. High-quality schools and affordable housing in the Far North Oklahoma City submarket of Edmond, as well as in the surrounding neighborhoods, have been major draws for young families. Both the Deer Creek and Edmond School Districts rank among the top three school districts in the state and also enjoy high national rankings. As a result of these residential and educational features that are attracting younger households and driving population growth, the Far North Oklahoma City submarket has recently seen a significant uptick in both retail investment and development activity that better support this underserved and growing community. To illustrate this submarket’s rise, consider the fact that nearly 20 percent of the total volume of retail product currently under construction in the Oklahoma City area …

July 14, 2020

Development Multifamily Texas

Madison Marquette Opens 30-Story Travis Apartment Building in Midtown Houston

by Taylor Williams July 13, 2020

HOUSTON — Madison Marquette has opened The Travis, a 328-unit apartment building located in the Midtown area of Houston. The 30-story building houses one-, two- and three-bedroom units, as well as two-story penthouses and 14,000 square feet of ground-floor retail and restaurant space. Amenities include a pool with cabanas, fire pits, a 24-hour fitness center, conference center, coffee bar, concierge services, package locker service and valet dry cleaning. Baltimore-based CallisonRTKL designed the property, which also includes a seven-story parking garage. Los Angeles-based AECOM Hunt served as the general contractor.

July 13, 2020

Development Office Texas

J. Small, Lyda Hill to Undertake 23-Acre Office Redevelopment Project in Dallas Design District

by Taylor Williams July 13, 2020

DALLAS — A partnership between locally based J. Small Investments and Lyda Hill Philanthropies will redevelop Pegasus Park, a 23-acre office campus in the Dallas Design District. The property, which currently houses 750,000 square feet of office space, was originally developed in 1970 for jewelry retailer Zale Corp. and has been vacant for the past decade. The development team will reposition the existing buildings to feature modern office space, as well life sciences and retail and restaurant space. The first phase of development is expected to be complete in early 2021. Five tenants — Commit Partnership, The Dallas Foundation, The Draper Richards Kaplan Foundation, United to Learn and Uplift Education — have committed to office space at Pegasus Place.

July 13, 2020

Acquisitions Industrial Texas

Stream Realty Partners Brokers Sale of 53,586 SF Industrial Building in Arlington

by Taylor Williams July 13, 2020

ARLINGTON, TEXAS — Stream Realty Partners has brokered the sale of a 53,586-square-foot industrial building located at 1200 Gambrel Road in Arlington. The property was originally built in 2005. James Mantzuranis of Stream Realty Partners represented the buyer, Arlington Investment Properties LLC, in the transaction. Sarah LanCarte and David Corle of LanCarte Commercial represented the seller, 109th Street LP.

July 13, 2020

Industrial Leasing Activity Texas

Energy Firm Signs 11,375 SF Industrial Lease in Metro Houston

by Taylor Williams July 13, 2020

TOMBALL, TEXAS — MSP Drilex Inc., a technology and service provider for the oil and gas industry, has signed an 11,375-square-foot industrial lease at 21227 Hufsmith-Kohrville Road in the northern Houston suburb of Tomball. According to LoopNet Inc., the property was built in 2015 on 1.1 acres and includes 2,700 square feet of office space. Mike Spears and Patrick Wolford of Lee & Associates represented the landlord, Epic International, in the lease negotiations. Payton Indermuehle with Keen Realty Group LLC represented the tenant.

July 13, 2020

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