Texas

New York Life Provides $208M Loan for Repositioning of Downtown Houston Office Tower

by Taylor Williams July 17, 2019

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.

July 17, 2019

Development Office Retail Texas

Four Rivers Capital Begins Construction of 12-Story Office, Retail Building in Dallas

by Taylor Williams July 17, 2019

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.

July 17, 2019

Acquisitions Industrial Texas

NAI Partners Arranges Sale of 341,252 SF Industrial Portfolio in Houston

by Taylor Williams July 17, 2019

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.

July 17, 2019

Development Hospitality Texas

RREAF Holdings Breaks Ground on 240-Room Hotel Near Fort Worth

by Taylor Williams July 17, 2019

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.

July 17, 2019

Company News Texas

Former Transwestern Principal Launches Investment, Brokerage Firm in DFW

by Taylor Williams July 17, 2019

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.

July 17, 2019

Acquisitions Multifamily Texas

NorthMarq Arranges Sale of 548-Unit Apartment Community in Irving

by Taylor Williams July 16, 2019

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.

July 16, 2019

Acquisitions Industrial Texas

Stonelake Capital Partners Buys 129,061 SF Warehouse in Dallas

by Taylor Williams July 16, 2019

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.

July 16, 2019

Acquisitions Retail Texas

InvenTrust Acquires Whole Foods-Anchored Retail Center in Metro Dallas for $36M

by Taylor Williams July 16, 2019

FAIRVIEW, TEXAS — InvenTrust Properties Corp., an Illinois-based shopping center REIT, has acquired Shoppes at Fairview, a 67,500-square-foot retail center in metro Dallas, for $36 million. Anchored by Whole Foods Market, the property also houses tenants such as Capital One and Jos. A Bank. The center was acquired in conjunction with a 346,200-square-foot, Costco-anchored center in South Florida, a property that fetched a sales price of $97 million. Chris Gerard, Barry Brown and Ryan Shore of JLL represented the seller, Lincoln Property Co., in the transaction.

July 16, 2019

Acquisitions Industrial Office Texas

Merritt Industrial Sells 58,193 SF Flex Property in Metro Dallas

by Taylor Williams July 16, 2019

GARLAND, TEXAS — Merritt Industrial Dallas LLC has sold Northgate Business Park IV, a 58,193-square-foot flex property located in the northeastern Dallas suburb of Garland. Built on 2.8 acres in 1986, the property, approximately 60 percent of which is office space, formerly served as the headquarters for National Spirit Group. Brian Pafford of Bradford Commercial Real Estate Services represented the locally based seller in the transaction. Greg Cagle of Coldwell Banker represented the buyer of record, SJ & JL LLC. The new ownership plans to renovate the property

July 16, 2019

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 31,950 SF Retail Center in Plano

by Taylor Williams July 16, 2019

PLANO, TEXAS — Marcus & Millichap has brokered the sale of Independence Park, a 31,950-square-foot retail property located at 3020 Legacy Drive in the northern Dallas suburb of Plano. The property was built in 1994. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity.

July 16, 2019

Newer Posts

Older Posts