Texas

Allied Orion Breaks Ground on 281-Unit Apartment Community in New Braunfels

by Taylor Williams May 31, 2019

NEW BRAUNFELS, TEXAS — Allied Orion Group has broken ground on The Retreat at Creekside, a 281-unit multifamily community in New Braunfels, located northeast of San Antonio. Designed by Steinberg Dickery Collaborative LLP, the property will be located within the 400-acre Creekside Town Center master-planned development. Floor plans range from one- to three-bedroom apartments that offer between 722 and 1,440 square feet of living space. Units will feature granite countertops, stainless steel appliances and private balconies or patios. Amenities will include a pool, outdoor grilling areas, a fitness center, resident clubhouse with a cyber lounge and a dog park. The opening is slated for December 2020.

May 31, 2019

Development Office Texas

Cawley Partners to Develop 300,000 SF Spec Office Building in Plano

by Taylor Williams May 31, 2019

PLANO, TEXAS — Dallas-based development and management firm Cawley Partners will develop a 300,000-square-foot speculative office building at The Campus at Legacy West, a 105-acre mixed-use development in Plano. Designed by Morrison Dillworth + Walls, the 15-story property will be situated at 6333 Legacy Drive at the main entrance to the Legacy West. Amenities will include a fitness center, restaurant, bar and a conference center. Avison Young will handle leasing of the building. A construction timeline has not yet been released.

May 31, 2019

Development Office Oklahoma Texas

Woodside Capital Begins Renovation of 100,000 SF Office Complex in Oklahoma City

by Taylor Williams May 31, 2019

OKLAHOMA CITY — Fort Worth-based Woodside Capital Group has begun a $6 million renovation project at LakePointe Towers, a two-building office complex in Oklahoma City. The assets feature nearly 100,000 square feet available for lease. Woodside, which acquired the properties in fall 2018, has already completed upgrades to the parking areas, as well as added new paint, roofs and building chillers. Ongoing improvements include updates to the lobbies, restrooms, signage and landscaping. CBRE will market LakePointe Towers for Woodside following completion of the project.

May 31, 2019

Industrial Leasing Activity Texas

NAI Partners Arranges 19,260 SF Industrial Lease in Houston

by Taylor Williams May 31, 2019

HOUSTON — NAI Partners has arranged a 19,260-square-foot industrial lease for Alpha Insulation & Waterproofing, a provider of select construction services, at 14820 Tomball Parkway in Houston. According to LoopNet Inc., the newly constructed property spans 54,738 square feet of divisible space. Darren O’Conor and Jake Wilkinson of NAI Partners represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

May 31, 2019

Leasing Activity Office Texas

NKF Negotiates 10,365 SF Office Lease in Uptown Dallas

by Taylor Williams May 31, 2019

DALLAS — Newmark Knight Frank (NKF) has negotiated a 10,365-square-foot office lease for Kansas City-based law firm Lathrop Gage at Rosewood Court in the Uptown area of Dallas. The new office is the firm’s 10th in the country. Garrison Efird and Paxton Cooksey of NKF represented Lathrop Gage in the lease negotiations. David Zimmer and Scott Bluhm of Newmark Grubb Zimmer, an affiliate office of NKF, also worked on the deal. Haley Collard and Joe Dunne represented the landlord, Rosewood Property Co., on an internal basis.

May 31, 2019

Market Reports Retail Texas Texas Market Reports

The Shift to Local Identification in Retail Real Estate

by Taylor Williams May 31, 2019

In cities around the country, growing numbers of developers are prioritizing the inclusion of local and independent boutique retail tenants in centers with more recognizable national chains. At a time when the retail industry is undergoing some profound changes, it should not be surprising that we have seen a correspondingly significant shift in conventional wisdom about how to build a tenant roster. That shift is especially evident in adaptive reuse projects, and in retail and mixed-use developments located in more urban areas. Consequently, we have some great real estate in the country being occupied by largely unproven brands and businesses. These local or up-and-coming retailers may not have extensive backgrounds or long and proven sales histories, but they do have the exclusive, authentic feel that developers — and communities — are looking for. Projects like Heights Mercantile, a low-rise urban market district in Houston’s Heights neighborhood, are thriving through tenant rosters populated largely with chic and exclusive independent brands. Even the small handful of national names at Heights Mercantile — Lululemon Athletica, Warby Parker, Marine Layer Inc. — are either exclusive to the region or have the kind of “cool” factor consumers are drawn to. There are a number of …

May 31, 2019

Loans Multifamily Texas

HFF Arranges Refinancing of Two Apartment Communities Totaling 552 Units in Metro Houston

by Taylor Williams May 30, 2019

STAFFORD, TEXAS — HFF has arranged two loan of undisclosed amounts for the refinancing of two multifamily communities totaling 552 units in Stafford, a southwestern suburb of Houston. Shadowbrooke, built in 2003, features 240 units and was 92 percent occupied at the time of loan closing. Silverbrooke, completed in 2007, totals 312 units and was 93 percent occupied. A private park adjoins the two properties, providing shared amenities such as a jogging trail, sand volleyball court, playground and putting green. Each community also houses its own resort-style swimming pool, hot tubs, clubhouse and fitness center. Cortney Cole and John Williamson of HFF worked on behalf of the borrower, Venterra Realty, to secure the loans, both of which were structured with 10-year terms and fixed interest rates.

May 30, 2019

Loans Multifamily ORIX Seniors Housing Texas

Lancaster Pollard Places Two Bridge Loans Totaling $42M for Skilled Nursing Portfolio in Texas

by Taylor Williams May 30, 2019

TEXAS — Lancaster Pollard Mortgage Co. has placed two bridge loans totaling $42 million for the recapitalization of a five-property portfolio of skilled nursing facilities located throughout Texas. In the first transaction, Lancaster Pollard provided a $12 million loan with a 12-month term for two facilities in South Texas. The transaction refinanced existing debt and provided equity-out proceeds. In the second transaction, Lancaster Pollard worked with syndicate partner MB Financial Bank to secure a $30 million, 30-month bridge loan for three facilities in South Texas. Scott Blount, Chris Mauger and Eric Sengpiel of Lancaster Pollard placed the debt on behalf of the borrower, Arboretum Group. The specific names and locations of the properties were not disclosed.

May 30, 2019

Acquisitions Office Texas

Colliers Brokers Sale of Houston Office Complex Totaling 234,746 SF

by Taylor Williams May 30, 2019

HOUSTON — Colliers International has brokered the sale of a two-building, 234,746-square-foot office complex in Houston. Located at 263 N. Sam Houston Parkway, one building totals 87,611 square feet and the other spans 147,135 square feet and includes a four-story parking garage. David Carter of Colliers represented the seller, BH Properties, in the transaction for the Class B buildings. The buyer was not disclosed, but the property is listed on the Houston portfolio page of Lincoln Property Co.

May 30, 2019

Acquisitions Industrial Texas

JLL Negotiates Sale of 23,413 SF Former Freight Depot Building in Fort Worth

by Taylor Williams May 30, 2019

FORT WORTH, TEXAS — JLL has negotiated the sale of the 23,413-square-foot former Katy Depot located near downtown Fort Worth. The property was originally built in 1909 as a freight depot for the Katy Railroad, which connected Missouri, Texas and Kansas. The building served as a builder’s supply house from 1996 until the seller, Besco Supply, a family-owned masonry and building supply company, relocated to larger facility last year. Joel St. John and Ryan Matthews of JLL represented Besco in the sale. Todd Hubbard of NAI Robert Lynn represented the buyer, a medical supply company that plans to renovate the building. Plains Capital Bank provided acquisition financing for the deal. The sales price was not disclosed.

May 30, 2019

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