Texas

JLL Arranges $10M Loan for Refinancing of Pinnacle Business Center in Dallas

by Taylor Williams June 9, 2020

DALLAS — JLL has arranged a $10 million loan for the refinancing of Pinnacle Business Center, a 181,050-square-foot industrial complex in Dallas. The three-building, Class A property was built in 2004 and was fully leased at the time of the loan closing. Property features include clear heights ranging from 24 to 28 feet, 51 dock-high doors, nine ramp access doors, office space and ample parking. D.J. Meagher, Paul Brindley and Dillon Donald of JLL arranged the loan through insurance company National Life on behalf of the borrower, an affiliate of California-based Cohen Asset Management. The loan carries a 10-year term and a fixed interest rate.

June 9, 2020

Development Industrial Texas

Equity Industrial, Raith Capital Break Ground on 123,966 SF Spec Industrial Project in El Paso

by Taylor Williams June 9, 2020

EL PASO, TEXAS — A partnership between Massachusetts-based Equity Industrial Partners and New York-based Raith Capital Partners has broken ground on a 123,966-square-foot speculative industrial project in El Paso. The property will be located at 9541 Joe Rodriguez Drive near the Zaragoza International Bridge. Building features will include 28-foot clear heights, overflow trailer storage, a fenced truck court and an ESFR sprinkler system. Construction is expected to be complete in December. Loya Wilke Architects is handling design of the project, and Jacob CM is the general contractor. CBRE will market the space for lease.

June 9, 2020

Leasing Activity Retail Texas

Teso Life Signs 14,236 SF Retail Lease at Carrollton Town Center in Metro Dallas

by Taylor Williams June 9, 2020

CARROLLTON, TEXAS — Teso Life, a provider of Japanese beauty products, snacks and home goods, has signed a 14,236-square-foot retail lease at Carrollton Town Center on the northern outskirts of Dallas. The store, which will be the company’s first outside of its home base of New York City, is scheduled to open this fall. Heather Nguyen represented the landlord, Houston-based NewQuest Properties, in the lease negotiations on an internal basis. John Nguyen and Grace La, also with NewQuest, represented the tenant.

June 9, 2020

Leasing Activity Office Texas

Avison Young Negotiates 14,206 SF Office Lease at Sage Plaza in Houston

by Taylor Williams June 9, 2020

HOUSTON — Avison Young has negotiated a 14,206-square-foot office lease in Uptown Houston for Goree Architects Inc. The tenant will relocate its headquarters from 4710 Bellaire Blvd. to Sage Plaza, located at 5151 San Felipe St. Anthony Squillante and Collin Roach of Avison Young represented the tenant in the lease negotiations. Nina Seyyedin and Jason Presley of CBRE represented the landlord, Granite Barnhart Sage Plaza LP.

June 9, 2020

Development Multifamily Texas

MRE Capital to Redevelop Historic Lubbock Office Tower as Multifamily Community

by Taylor Williams June 8, 2020

LUBBOCK, TEXAS — Kansas-based MRE Capital LLC will redevelop NTS Tower, a historic building in downtown Lubbock that was built in 1955, as a multifamily community that will be branded Metro Tower Lofts. The new property will add a total of 89 residences in studio, one-, two- and three-bedroom floor plans to the local supply. Amenities will include a fitness center and onsite laundry facilities, and the ground floor will house office space. Atlanta-based Monarch Private Capital secured an undisclosed amount of historic tax credit equity for the project. At 274 feet, NTS Tower is currently the tallest building in the city.

June 8, 2020

Industrial Leasing Activity Texas

CKS Packaging Signs 50,560 SF Industrial Lease in Northwest Dallas

by Taylor Williams June 8, 2020

DALLAS — CKS Packaging Inc., a national manufacturer of plastic containers, has signed a 50,560-square-foot industrial lease at 2829 Merrell Road in northwest Dallas. Ryan Boozer and Lena Pierce of Stream Realty Partners represented the tenant, which will occupy the entirety of the building, in the lease negotiations. The landlord is Gillis Thomas LP.

June 8, 2020

Industrial Leasing Activity Texas

NKF Negotiates 28,892 SF Industrial Lease at Dallas Corporate Center

by Taylor Williams June 8, 2020

DALLAS — Newmark Knight Frank (NKF) has negotiated a 28,892-square-foot industrial lease at Dallas Corporate Center Building 2. According to LoopNet Inc., the property was built in 1996 and spans 115,567 square feet. Cole Collins and Gary Lindsey of NKF represented the tenant, an affiliate of printing ink manufacturer Flint Group, in the lease negotiations. The landlord, Prologis, was represented internally.

June 8, 2020

Acquisitions Retail Texas

Marcus & Millichap Arranges Sale of Two Retail Buildings Totaling 19,772 SF in West Austin

by Taylor Williams June 8, 2020

AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of Gateway to Falconhead Buildings A & F, two retail properties totaling 19,772 square feet in Austin. The buildings are part of the Falconhead master-planned development on the city’s west side. Ethan Offenbecher of Marcus & Millichap represented the seller, a limited liability company, in the transaction. A Texas-based 1031 exchange investor acquired the asset for an undisclosed price.

June 8, 2020

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Secures 15,000 SF Industrial Lease for Scaffolding Company in Houston

by Taylor Williams June 8, 2020

HOUSTON — Lee & Associates has secured a 15,000-square-foot industrial lease at 5825 Kelley St. in northeast Houston for BrandSafway Solutions LLC, a provider of scaffolding systems. According to LoopNet Inc., the single-tenant property was built in 2008. Taylor Schmidt and Reed Vestal of Lee & Associates represented the tenant in the lease negotiations. David Munson of Boyd Commercial represented the landlord, Audie Gray Family LP.

June 8, 2020

Acquisitions Multifamily Texas

NKF Brokers Sale of 304-Unit Preserve at Old Dowlen Apartments in Beaumont

by Taylor Williams June 5, 2020

BEAUMONT, TEXAS — Newmark Knight Frank (NKF) has brokered the sale of The Preserve at Old Dowlen, a 304-unit apartment community in Beaumont. Built in 2008, the property offers one-, two- and three-bedroom units with stainless steel appliances, built-in desks and individual washers and dryers. Amenities include a pool and a clubhouse with a business center. Brad Shaffer and Brandon Miller of NKF represented the seller, Houston-based Venterra Realty, in the transaction. Purvesh Gosalia of NKF secured an undisclosed amount of Fannie Mae acquisition financing for the buyer, Miami-based LPI Holdings. The loan was structured with a 12-year term and a fixed interest rate.

June 5, 2020

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