HOUSTON — Newmark Knight Frank (NKF) has negotiated a 108,000-square-foot office lease renewal at 3010 Briarpark Drive in Houston for Empyrean Benefit Solutions Inc., which is headquartered at the building. The nine-story, Class A property is located in the Westchase neighborhood. David Husid of NKF represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
MCALLEN, TEXAS — Gleco Plating Inc. has acquired a 54,000-square-foot industrial building located at 3800 W. Ursula Ave. in the South Texas city of McAllen. The Rowlett, Texas-based company will occupy 34,000 square feet of the building. Carlos Telles of CBRE represented Gleco in the acquisition and is marketing the remaining 20,000 square feet for lease. Daniel Galvan of Coldwell Banker represented the seller, Goldman Family Management Trust.
HOUSTON — EDGE Realty Capital Markets has brokered the sale of a 22,423-square-foot office building located at 3808 World Houston Parkway in Houston 8. The property was built in 1999 on 2.8 acres and is located near several major thoroughfares, including Interstate 45 and Beltway 8. Micha Van Marcke and Chace Henke of EDGE represented the seller in the transaction. Other terms of sale were not released.
HOUSTON — New York Life Real Estate Investors has provided a $208 million loan for the repositioning of 717 Texas, a 33-story office building in downtown Houston. Designed by HOK and developed by Hines in 2003, the property spans 697,300 square feet and includes coworking space on the 12th floor. The repositioning project will enhance the package of amenities, which includes a conference center, rooftop garden and workspace lounge. The renovation program will also upgrade the lobby, elevator, lighting and security consoles. A construction timeline was not released.
DALLAS — Four Rivers Capital has begun construction of Weir’s Plaza, a 12-story office and retail building in the Knox-Henderson neighborhood of Dallas. The project will consist of 250,000 square feet of office space and 40,000 square feet of retail space, about 70 percent of which will be occupied by Weir’s Furniture. International law firm Kirkland & Ellis has signed a 65,986-square-foot office lease to occupy the buildings’ top three floors, and WeWork has signed a 71,598-square-foot lease for coworking space. Tommy Nelson and Dennis Barnes of CBRE represented Four Rivers Capital in the lease negotiations. Kevin Kushner, Phil Puckett, Harlan Davis and Neal Puckett of CBRE, along with Brooke Armstrong of JLL, represented Kirkland & Ellis. Completion of the project is slated for 2021. CBRE represented the landlord in the office lease negotiations. Tim Jordan and Clint Coe of JLL arranged construction financing for the project through PCCP LLC.
HOUSTON — NAI Partners has arranged the sale of a 14-building, 341,252-square-foot industrial portfolio located at 2700 Greens Road in Houston. The property is located near Interstates 45 and 69, as well as George Bush Intercontinental Airport. Joshua Lass-Sughrue, Chris Kugle and John Ferruzzo of NAI Partners represented the seller, Aero Greensmor LP, in the transaction. The buyer and sales price were not disclosed.
SOUTHLAKE, TEXAS — Developer RREAF Holdings has broken ground on Marriott Delta Hotel, a 240-room property that will be located in the Fort Worth suburb of Southlake. Designed by Merriman Anderson Architects, the six-story hotel will include 10,000 square feet of meeting space and a full-service restaurant and bar. Hill & Wilkinson is the general contractor for the project, which is expected to be complete by 2020.
FORT WORTH, TEXAS — Former Transwestern principal Sarah LanCarte, who most recently worked at investment firm Fort Capital, has launched LanCarte Commercial, an investment and brokerage firm serving the metroplex. Her team includes vice president David De Carion, industrial brokerage associate David Corley and client and transaction manager Lori Loftis. The firm has already closed its first deal, the acquisition of a 6,000-square-foot office building in downtown Fort Worth, which will serve as its base of operations.
IRVING, TEXAS — NorthMarq has arranged the sale of MacArthur Place Apartments, a 548-unit multifamily community in Irving. Built in 1964 and renovated in 2002, the property offers one-, two- and three-bedroom units and amenities such as two pools, a sports court and onsite laundry facilities. Taylor Snoddy, Philip Wiegand and James Roberts of NorthMarq represented the seller and the buyer in the transaction. In addition, Stephen Whitehead of NorthMarq arranged an undisclosed amount of acquisition financing through a life company for the new owner.
DALLAS — Stonelake Capital Partners has purchased a 129,061-square-foot warehouse located at 8220 Ambassador Row in Dallas. According to LoopNet Inc., the single-tenant property was built in 1966 and features 18-foot clear heights and 11 dock-high loading doors. Jamie Jennings, Jason Moser and Andrew Rabinovich of Stream Realty Partners represented the seller, Chicago-based Brennan Investment Group, in the transaction.