DALLAS AND FORT WORTH, TEXAS — Colliers International has added a new team of seven investment sales professionals focusing on single- and multi-tenant retail, office, industrial and healthcare properties. Geoff Ficke, who most recently served as senior vice president of Marcus & Millichap, will lead the new team, which has closed transactions with a collectively value of more than $1 billion over the last 10 years.
HALTOM CITY, TEXAS — Greystone has provided $19.5 million in Fannie Mae acquisition financing for a 216-unit apartment community in Haltom City, a suburb of Fort Worth. The financing consisted of an $18.2 million Fannie Mae Green Rewards loan and a $1.3 million mezzanine loan to supplement the first mortgage. Both loans are nonrecourse and carry 12-year terms and fixed interest rates. The borrower was not disclosed.
GARLAND, TEXAS — Berkadia has arranged a $3.5 million loan for the refinancing of Duck Creek Community Shopping Center, a retail center located at the intersection of North Jupiter Road and East Arapaho Drive in Garland, a northeastern suburb of Dallas. Wells Fargo provided the 10-year loan for the borrower, an affiliate of Dallas-based Retail Plazas Inc. The deal closed on Aug. 20.
DALLAS — The 2020 presidential election as well as tariffs, the primary economic weapon of the incumbent candidate, are weighing heavily on the decisions of industrial users and investors in Dallas-Fort Worth (DFW), according to a panel of experienced leasing and capital markets professionals at the InterFace DFW Industrial conference. Moderated by Coni Hennersdorf, principal of CODA Consulting Group, the event was held Sept. 4 at the Westin Galleria Hotel and attended by more than 200 people in its first year of existence. The panelists agreed that President Donald Trump’s tariffs, which at this point primarily target goods imported from China, have prompted some industrial users to stockpile inventories in advance of the tariffs going into effect. According to the Wall Street Journal, since July 2018, the administration has imposed tariffs on more than $250 billion worth of Chinese goods, not including the additional $150 billion in tariffs set to take effect in mid-December. Other tenants have opted to wait out the election and see if the tariffs will be repealed, effectively delaying key decisions on capital expenditures like labor and materials. The former scenario creates more demand for industrial space, while the latter puts potential expansion deals on hold. …
A persistent need for a tenant mix that is resistant to e-commerce and which facilitates a unique, authentic experience is prompting owners of older retail centers and malls to assume high levels of risk and redevelop their properties. While there can be a plethora of non-tenant-related factors that spur redevelopment projects — the basic need to charge higher rents, the structural and aesthetic deterioration over time, a desire to restore a public perception of vibrancy — the ultimate success of almost every retail redevelopment project hinges on the tenancy. For shopping centers, this typically entails adding more restaurant users and other retail categories that offer a critical service or a unique shopping experience, as well as integrating open recreational spaces. For malls, adding entertainment uses is becoming increasingly important, particularly when an anchor space has been vacated or sold back to the owner. When paired with a telltale sign like sluggish sales and/or negative rent growth, any of the aforementioned factors can be the catalyst for pulling the trigger on a redevelopment project. But whatever the impetus for the project, without marketing to and leasing tenants that can afford market-rate rents, align with the surrounding demographics and drive foot traffic throughout …
HOUSTON — A partnership between MetroNational and Slate Real Estate Partners has completed The McAdams, a 333-unit apartment community located in the Memorial City area of Houston. The property offers a mix of one-, two- and three-bedroom units ranging in size from 563 to 1,821 square feet and features custom cabinetry and stainless steel appliances. Amenities include a rooftop pool, resident lounge, fitness center, a game room and a pet park. Rents at The McAdams range from $1,515 to $4,865 for a three-bedroom unit, according to The Houston Chronicle.
DALLAS — Private equity investment firm Admiral Capital Group has acquired Fourteen555, a 249,564-square-foot, Class A office building located in the Lower Tollway submarket of Dallas. The seller, Cawley Partners, developed the asset in 2018. Amenities at the six-story property a full-service restaurant, a fitness center and a covered terrace with lounge seating. BOKA Powell designed the building.
NEW BRAUNFELS, TEXAS — Berkadia has arranged a $15.4 million CMBS loan for the refinancing of Courtyard Plaza, a retail strip center located near I-35 in New Braunfels, a suburb of San Antonio. Argentic provided the loan, which carries a 10-year term and a fixed interest rate. The borrower was not disclosed. The deal closed on August 27.
HOUSTON — Marcus & Millichap has arranged the sale of a 30,942-square-foot retail strip center located at 5301 Telephone Road in Houston. Pep Boys and Melrose, an apparel retailer, anchor the property. Gus Lagos and Nik Kapetanakis of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Lagos also secured the buyer, another limited liability company.
GARLAND, TEXAS — The Goodyear Tire & Rubber Co. has signed a 13,986-square-foot industrial lease renewal at 2820 Market St. in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property was built on 2.3 acres in 1994. Ryan Boozer of Stream Realty Partners represented the landlord, 2820 Market Street Ltd., in the lease negotiations. Tim Vogds of CBRE represented the tenant.