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RetailTexasUncategorized

NAI RGV Arranges Sale of 44,041 SF Retail Property in McAllen

by Taylor Williams

MCALLEN, TEXAS — NAI Rio Grande Valley (RGV) has arranged the sale of The District at McAllen, a 44,041-square-foot retail property located at 3300 N. McColl Road in McAllen. Laura Liza Paz of NAI RGV represented the undisclosed seller in the transaction. Daniel Galvan of Coldwell Banker Commercial La Mansion represented the buyer, Keller, Texas-based Ryan Investments. Built in 2006, The District at McAllen will house a 20,000-square-foot UFC Gym as the new owner rebrands it from an entertainment venue into a retail and office development.  

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TexasUncategorized

Apollo Global Management to Acquire Dallas-Based ClubCorp for $1.1B

by Taylor Williams

DALLAS — Apollo Global Management LLC will acquire Dallas-based ClubCorp (NYSE: MYCC), which owns and operates approximately 200 properties throughout the United States, Mexico and China, most of which are golf and country clubs, for $1.1 billion. Under the terms of the deal, Apollo will acquire all of ClubCorp’s outstanding shares for $17.12 per share in cash. The sale is expected to close during the fourth quarter.  

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IndustrialTexasUncategorized

GM, NorthPoint Break Ground on 1.2 MSF Logistics Center in Arlington

by Taylor Williams

ARLINGTON, TEXAS — General Motors (GM) and NorthPoint Development have broken ground on Arlington Automotive Logistics Center, a two-building, 1.2 million-square-foot industrial property in Arlington that will support GM’s nearby manufacturing plant. The project is expected to be complete in 2018 and create an additional 850 jobs. Bob Moore Construction has been named general contractor for the center, which will house about 1,250 employees and provide warehouse services.

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HealthcareTexasUncategorized

Caddis Acquires Medical Office Properties in El Paso, Plano

by Taylor Williams

EL PASO AND PLANO, TEXAS — Dallas-based healthcare real estate firm Caddis has acquired two medical office properties in El Paso and Plano. The company has purchased George Dieter Medical Plaza, a 15,005-square-foot property located at 1393 George Dieter Drive in El Paso, a transaction for which Capital One provided the acquisition financing. Caddis has also acquired a 21,246-square-foot building located at 5228 W. Plano Parkway in Plano, which is currently leased to Plano Orthopedic Sports Medicine & Spine Center.

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RetailTexasUncategorized

Oldham Goodwin Brokers Sale of 170,000 SF Retail Power Center in College Station

by Taylor Williams

COLLEGE STATION, TEXAS — Oldham Goodwin Group LLC, a brokerage and development firm based in Central Texas, has brokered the sale of University Shopping Center, a 170,000-square-foot retail power center in College Station. Located at 1901 S. Texas Ave. approximately half a mile from Texas A&M University, the center is anchored by tenants such as Ross Dress for Less, Big Lots and Hobby Lobby. Clint Oldham of Oldham Goodwin represented the seller, Allegiancy, a Virginia-based asset management firm, and procured the undisclosed buyer.

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OfficeTexasUncategorized

KDC Tops Off $300M, 1 MSF JPMorgan Chase Corporate Campus at Legacy West

by Taylor Williams

PLANO, TEXAS — Developer KDC has topped off JPMorgan Chase’s new, 1 million-square-foot corporate office campus at the Legacy West development in Plano. The $300 million, 50-acre campus features amenities such as a food court, health and wellness center, training and conference space, and a childcare center. Approximately 6,000 JPMorgan Chase employees are expected to work at the property beginning in the second half of 2017.

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FeaturesOfficeTexasTexas & Oklahoma Feature ArchiveUncategorized

Business Parks Energize the Lone Star State

by Jaime Lackey

Speculative development and e-commerce tenant demands are driving forces in Dallas and Houston’s industrial markets. By Brian Lee The biggest developments in the biggest state in the lower 48 are making big news: industrial business parks in Texas’ top markets continue to show strong development and leasing activity. Cushman & Wakefield shared a “very encouraging” industrial outlook on the Dallas-Fort Worth metro area. With slightly less than 24 million square feet of absorption in 2016, market demand continues to outpace supply, which included 22 million square feet of new construction last year. PwC and Urban Land Institute ranked the metro second nationally for real estate prospects in 2017 and fulfillment centers No. 1 in both the development and investment categories, ahead of 23 other property types. “The evolution of the e-commerce sector continues to shape the industrial market as a whole,” says Adam Hammack, senior director of Industrial Agency Leasing in Cushman & Wakefield’s Dallas office. Site selection factors for large e-commerce users comprise fresh building functionality, modern infrastructure and the ability to attract and retain labor, which includes nearby transit and retail options for industrial park personnel, according to Hammack. Focusing on the effects of the energy downturn doesn’t …

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MarylandRetailSoutheastUncategorized

IPA Arranges $18.4M Sale of Cromwell Field Shopping Center in Metro Baltimore

by John Nelson

GLEN BURNIE, MD. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $18.4 million sale of Cromwell Field Shopping Center, a 233,486-square-foot retail property located in the Baltimore suburb of Glen Burnie. Tenants at the 88 percent occupied center include Giant Foods, Roses Discount Store, BB&T Bank, Dollar General, McDonald’s, House of Tropicals and Dunkin’ Donuts. Dean Zang and Christopher Burnham of IPA represented the seller, an affiliated partnership of Klein Enterprises, in the transaction. Tim McCann, Alex Staneski and Alex Topchy represented the buyer, an affiliate of Broad Street Realty, in-house.

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FloridaRetailSoutheastUncategorized

RD Management Inks Lease with Earth Fare at Shady Oaks Shopping Center in Ocala, Florida

by John Nelson

OCALA, FLA. — RD Management LLC has signed Earth Fare, a specialty grocer that sells natural and organic products, to a 29,618-square-foot lease at its Shady Oaks Shopping Center located at 2401-2499 S.W. 27th Ave. in Ocala. The grocer is expected open its store at the 260,419-square-foot shopping center in the spring, joining other newcomers such as Tuesday Morning, Mattress One and Pushti Eyebrows. Front Street Commercial Real Estate Group represented RD Management in the lease deal with Earth Fare.

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CaliforniaOregonRetailTop StoriesUncategorizedWashingtonWestern

CBRE Global Investment Partners Acquires Minority Stake in $1.5B West Coast Retail Portfolio

by John Nelson

LOS ANGELES AND SAN FRANCISCO — CBRE Global Investment Partners has acquired a 45 percent stake in a $1.5 billion portfolio of 55 retail assets located on the West Coast. The investment was made on behalf of the company’s flagship Global Alpha Fund and various separate account clients and totals roughly $450 million, according to reports by The Wall Street Journal. San Francisco-based Merlone Geier Partners (MGP) is the majority owner in the portfolio, which totals nearly 7 million square feet, and will maintain its position as operating partner. The properties are largely anchored by grocery and necessity-based retailers, and are concentrated in Southern California, Seattle, Sacramento, the San Francisco Bay Area and Portland. “This joint venture gives us a rare opportunity to access for our clients a large diversified portfolio of high-quality retail centers that would be challenging to acquire in scale,” says Ian Gleeson, CIO for CBRE Global Investment Partners. “We are pleased to partner with Merlone Geier because it is a leading operator that has significant experience in the retail sector.” Eastdil Secured advised MGP in the transaction. MGP is a private real estate investment company focused on the acquisition, development and redevelopment of retail and mixed-use …

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