Texas

JLL Negotiates 181,450 SF Industrial Lease for Plastics Producer in Houston

by Taylor Williams October 10, 2017

HOUSTON — JLL has negotiated a 181,450-square-foot industrial lease on behalf of Starplast, an Israeli manufacturer of plastics products, at North Point 8111, a 250,660-square-foot industrial building within Point North Cargo Park in Houston. Located at the intersection of FM 1960 and U.S. Highway 59, the facility will serve as the company’s base of U.S. manufacturing operations. Property features include a cross-dock configuration, 28-foot clear heights and fully fenced outside storage. Ryan Fuselier and Travis Secor of JLL represented Starplast in the lease negotiations. David Hudson of Duke Realty represented the landlord internally.

October 10, 2017

MetroNational to Open 133-Unit High-Rise Apartment Complex in Houston

by Taylor Williams October 10, 2017

HOUSTON — MetroNational, a Houston-based investment and development firm, will open The McCarthy, a 133-unit high-rise apartment complex located atop Houston’s Hotel Zaza Memorial City. A mix of studio, one- and two-bedroom units will span seven levels of the 17-story structure. Amenities will include a pool and cabanas, fitness center with on-demand classes, catering kitchen and private dining room and a laptop bar. The opening of The McCarthy is scheduled for January 2018.

October 10, 2017

Hospitality Loans Texas

RealtyShares Closes $2.4M Equity Financing for Sheraton Hotel in Irving

by Taylor Williams October 10, 2017

IRVING, TEXAS — RealtyShares, a San Francisco-based financial intermediary, has closed a $2.4 million equity investment for the Sheraton DFW Airport Hotel, a 302-room hotel located at 4440 W. John Carpenter Freeway in Irving. The company arranged the funds on behalf of The Buccini/Pollin Group, a Delaware-based investment and management firm. The property, which is located about eight miles from the Dallas-Fort Worth International Airport, features three restaurants, 23 banquet and meeting rooms and 25,000 square feet of meeting space.

October 10, 2017

Industrial Self-Storage Texas

Bellomy Arranges Sale of Two Self-Storage Facilities Totaling 1,223 Units in Metro San Antonio

by Taylor Williams October 9, 2017

BOERNE AND HELOTES, TEXAS — Bellomy & Co. has arranged the sale of two self-storage facilities totaling 1,223 units in the San Antonio metros of Boerne and Helotes. Ten Oaks Self Storage Boerne is a 756-unit, Class A property situated on 7.5 acres at 131 Old San Antonio Road, and Ten Oaks Self Storage Helotes is a 467-unit facility located at 16304 Bandera Road. The properties offer a combined 186,859 net rentable square feet. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the Boerne-based seller in the transaction.

October 9, 2017

Retail Texas

Topgolf to Open 55,000 SF Facility in Rio Grande Valley

by Taylor Williams October 9, 2017

PHARR, TEXAS — Topgolf, a driving range-based entertainment concept, will open a 55,000-square-foot facility the corner of U.S. Highway 72 and East Frontage Road in the Rio Grande Valley metro of Pharr. Construction of the venue, which will be the Dallas-based company’s 11th overall in Texas, is slated to begin later this year. The development and operation of the property, which is scheduled to open during the winter of 2018, is expected to create as many as 350 full- and part-time jobs. The venue will also feature 1,975 square feet of private event space.

October 9, 2017

Industrial Texas

JLL Negotiates Sale-Leaseback of 133,480 SF Industrial Asset in Houston

by Taylor Williams October 9, 2017

HOUSTON — JLL has negotiated the sale and leaseback of a 133,480-square-foot distribution center located at 7350 Langfield Road in Houston. The property features 34 dock-high doors, 30-foot clear heights, outside storage and access to U.S. Highway 290 and Beltway 8. Denver-based Industrial Property Trust purchased the property and will leaseback all of the space to T&L Distributing, a Houston-based distributor of flooring materials. Dustin Volz, Kevin McConn, Zane Marcell and Grant Matthews led the JLL team on the transaction.

October 9, 2017

Hospitality Texas

Gatehouse Capital Opens 132-Room Hotel on Baylor University’s Dallas Medical Campus

by Taylor Williams October 9, 2017

DALLAS — Gatehouse Capital, a Dallas-based hospitality development firm, has opened Home2 Suites by Hilton Dallas Downtown at Baylor Scott & White. The 132-room hotel is located at 3301 Gaston Ave. on the campus of Baylor University Medical Center Dallas. The land is owned by Baylor Health Care System and has been leased to Gatehouse Capital. Aimbridge Hospitality manages the hotel.

October 9, 2017

Loans Office Texas

Ready Capital Closes $4.7M Loan for 61,896 SF Office Building in Metro Houston

by Taylor Williams October 9, 2017

CYPRESS, TEXAS — Ready Capital Structured Finance has closed a $4.7 million loan for the acquisition, renovation and stabilization of a 61,896-square-foot office building located in the Houston metro of Cypress. The non-recourse, interest-only loan features a 36-month term with two extension options. The undisclosed borrower will use a portion of the loan proceeds to renovate the lobby and bathrooms of the property, as well as to upgrade its landscaping.

October 9, 2017

Retail Texas

Bright Realty Breaks Ground on 6,600 SF Shopping Center in Metro Fort Worth

by Taylor Williams October 6, 2017

BURLESON, TEXAS — Bright Realty has broken ground on Elk Crossing, a 6,600-square-foot shopping center that will be located at 264 John Jones Drive in the southern Fort Worth metro of Burleson. The property will be anchored by a 2,200-square-foot R Taco restaurant and shadow-anchored by an H-E-B, Target and Home Depot across the street. Approximately 4,400 square feet of space is still available for lease, including an end-cap location with a drive-thru opportunity.

October 6, 2017

Office Texas

HFF Arranges Sale, Financing for 162,336 SF Office Building in Houston

by Taylor Williams October 6, 2017

HOUSTON — HFF has arranged the sale of and acquisition financing for a 162,336-square-foot office building located at 2100 W. Loop S. in Houston’s Galleria neighborhood. The 16-story property was renovated in 2014 and was 88 percent leased at the time of sale. Dan Miller and Martin Hogan of HFF represented the seller, a partnership between California-based Buchanan Street Partners and Minnesota-based CarVal Investors, and procured the buyer, Houston-based Elite Street Capital. Matt Kafka and Michael Johnson of HFF led the debt placement for the borrower, securing a five-year loan through Greystone that carries a fixed 4.25 percent interest rate.

October 6, 2017

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