AUSTIN, TEXAS — HFF has negotiated the sale of 5508 Parkcrest, a 40,798-square-foot office building located in northwest Austin. The Class B property was 92 percent occupied at the time of sale. HFF represented the seller, a family trust, in the transaction. An affiliate of Austin-based F&B Capital purchased the asset for an undisclosed price.
WICHITA FALLS, TEXAS — Coldwell Banker Commercial Advisors (CBCA) has arranged the sale of a 36,879-square-foot office property located at 2236 Airport Drive in Wichita Falls, about 100 miles northwest of Fort Worth. The property, which was built in 1992 and is currently leased to USA 800, a Missouri-based call center provider. Gary Walker of CBCA represented the buyer, SkyWalker Property Partners, in the transaction. Sandalwood Pacific LP of Hawaii sold the net-leased asset for an undisclosed price.
HOUSTON — WorkFlourish, a Houston-based company that cultivates workspaces within hospitality or residential settings, has opened a 10,000-square-foot co-working space within Ascension on the Bayou, a 280-unit apartment community located in the Westchase area of Houston. The property now features a workspace in the main lounge, two conference rooms, a formal business center, several individual desks, eight private offices and a community kitchen. Co-working space at the property costs between $200 and $450 per month.
TYLER, TEXAS — Abby Development has broken ground on Auberge at Tyler, a 234-unit multifamily community located on Grand Boulevard near the intersection of Old Jacksonville Highway in Tyler, about 100 miles east of Dallas. Amenities will include a pool with swim-up tanning ledges, a stocked fishing pond, fitness center and yoga studio, a dog park, a resident lounge with a kitchen and coffee bar and a cabana area with flat-screen televisions. The community is expected to open during the second quarter of 2019.
DALLAS — Stream Realty Partners has completed the renovation of Pinnacle Tower, a 24-story, 549,000-square-foot office building located along the LBJ Freeway in Dallas. The yearlong project delivered upgrades such as new exterior lighting to showcase the design and a remodeled lobby with a Starbucks Coffee, full-service restaurant and outdoor patio. Other additional features include a tenant lounge, fitness center, conference center and shuttle service to and from the Galleria mall and local restaurants.
DENTON, TEXAS — Marcus & Millichap has closed the sale of Elm Street Center, a 9,600-square-foot retail property located at 1803 Elm St. in Denton. Built in 1975, the property was 85 percent leased at the time of sale to tenants such as Musician’s Hub, Orbit Press and Guatelinda Café. Lisa Estrada and Austin DiCambio of Marcus & Millichap represented the seller, an individual/personal trust, in the all-cash transaction. The property sold to an out-of-state buyer.
ARLINGTON, TEXAS — NAI Robert Lynn has secured a 36,450-square-foot industrial/office lease at 640 107th St. in Arlington. Michael Stanzel of NAI Robert Lynn represented the landlord in the lease negotiations. George Curry and Blake Rogers of JLL represented the tenant, Incab America LLC, a Georgia-based manufacturer of fiber optic cable.
OKLAHOMA CITY — Home2Suites by Hilton has opened a 115-room hotel located off Interstates 40 and 44 near Will Rogers Airport in Oklahoma City. The pet-friendly property features amenities such as a combined fitness and laundry area, an indoor saltwater pool and a fire pit and grill area. Suites offer fully equipped kitchens and modular furniture. Nashville-based Platinum Hospitality LLC will manage the property.
HOUSTON — First Industrial Realty Trust Inc. has broken ground on First 290 @ Guhn Road, a 126,250-square-foot distribution center located at 6913 Guhn Road in northwest Houston. The front-load facility will feature 32-foot clear heights, an ESFR sprinkler system, 185-foot truck court, 137 parking stalls and up to 46 trailer stalls. Completion is slated for summer 2018. Stream Realty Partners will handle leasing of the facility.
SPRING, TEXAS — Greystone has provided a $36.4 million bridge loan for the acquisition of Parkside Place Apartments, a 384-unit multifamily community in Spring, about 45 minutes north of Houston. The property features amenities such as a pool, demonstration kitchen, complimentary coffee bar, fitness and business centers, a movie-screening room with an arcade and a game room. Donny Rosenberg of Greystone originated the loan, which carries a two-year term with two six-month extensions, on behalf of Houston-based Ilan Investments.
