Texas

Majestic Negotiates 166,400 SF Lease Within 2,000-Acre Industrial Park in Laredo

by Taylor Williams June 15, 2017

LAREDO, TEXAS — Majestic Realty Co. has negotiated a 166,400-square-foot lease within Port Grande, a 2,000-acre, master-planned industrial development in Laredo. The undisclosed tenant, an international firm in the automotive industry, will occupy a 366,080-square-foot building scheduled to be complete in late August. This building, which features 32-foot ceiling heights, 120 dock-high doors and 439 combined trailer and automobile parking spaces, is the first speculative property in the 100-acre, Phase I development of the project.

June 15, 2017

Tech Firm Opens New Office in Southwest Austin

by Taylor Williams June 15, 2017

AUSTIN, TEXAS — SOCi, a California-based social media consulting firm, has opened a new office at 3755 S. Capital of Texas Highway, a 74,000-square-foot, Class A office property in southwestern Austin. The opening of the new office, which is the company’s second, comes two months after SOCi closed its $8.5 million Series A financing round.

June 15, 2017

Office Texas

Cresa DFW to Relocate Office to Pinnacle Tower in Midtown Dallas

by Taylor Williams June 15, 2017

DALLAS — Tenant representation firm Cresa DFW will relocate its Dallas office from its current location on Knoll Trail Drive to the Pinnacle Tower in Dallas’ Midtown neighborhood, effective August 1. The company has signed a three-year lease at the 24-story property, which is located at 5005 LBJ Freeway. The company’s new offices will provide enough space for 20 employees. Cresa DFW eventually plans to expand its office space to accommodate as many as 50 employees.

June 15, 2017

Industrial Texas

GM to Invest $1.4B in Upgrades for Manufacturing Plant in Arlington

by Taylor Williams June 14, 2017

ARLINGTON, TEXAS — General Motors (GM) will invest $1.4 billion in improvements for its 4.3 million-square-foot Arlington Assembly Plant. Roughly 4,100 employees work at the facility, which will receive a new paint shop, body shop and general assembly area upgrades as part of the deal. The company will also be developing additional workspace at Arlington Logistics Center, a 1.2 million-square-foot industrial project under construction at the site of the former Six Flags Mall, according to the Fort Worth Star-Telegram.

June 14, 2017

Multifamily Texas

MAA Completes Phase II Construction of Multifamily Community in Austin

by Taylor Williams June 14, 2017

AUSTIN, TEXAS — Tennessee-based developer MAA has completed Phase II construction of Post South Lamar, a multifamily community located at 1500 S. Lamar Blvd. in Austin. The property features a mix of studio, one-bedroom and two-bedroom units. Phase II delivered 344 units, restaurant and retail space and amenities such as two pools, an outdoor dining area, fitness center and rooftop terrace.

June 14, 2017

Hospitality Loans Texas

iBorrow Provides $12M in Refinancing for Crowne Plaza in Oklahoma City

by Taylor Williams June 14, 2017

OKLAHOMA CITY — California-based lender iBorrow has provided $12 million for the refinancing of the Crowne Plaza Oklahoma City, a 218-room hotel located at 2945 Northwest Expressway in Oklahoma City. The undisclosed borrower, which purchased the property in 2016 and has since invested approximately $8.1 million in it, will rebrand the asset as a Wyndham hotel.

June 14, 2017

Retail Texas

Marcus & Millichap Arranges Sale of 87,900 SF Retail Center in Arlington

by Taylor Williams June 14, 2017

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Sublett Corners Shopping Center, a five-building, 87,900-square-foot retail center located at 5900-5912 S. Cooper St. in Arlington. Situated on 10 acres and shadowed-anchored by Albertson’s, the Stein Mart-anchored center was 94 percent occupied at the time of sale. Bill Jordan of Marcus & Millichap represented the seller and procured the buyer, both of whom are private investors.

June 14, 2017

Retail Texas

TREK Brokers Sale of 48,716 SF Shopping Center in Amarillo

by Taylor Williams June 14, 2017

AMARILLO, TEXAS — TREK Investment Group has brokered the sale of Coronado Shopping Center, a 48,716-square-foot retail center located at 3303 Wimberly Road in Amarillo. Parker Carroll of TREK represented the buyer, Assertive Realty Group LLC, in the transaction. The name and representative of the seller were not disclosed.

June 14, 2017

Loans Multifamily Texas

Greystone Provides $68.1M in Refinancing for 1,218-Unit Multifamily Asset in Dallas

by Taylor Williams June 13, 2017

DALLAS — Greystone has provided $68.1 million for the refinancing of Vineyards at Forest Edge, a 1,218-unit multifamily property located at 9669 Forest Lane in Dallas. Built in 1984, the property features 11 swimming pools, four playgrounds, a 24-hour fitness center, social center and a kids club. Rob Meehan of Greystone originated the CMBS loan on behalf of the undisclosed borrower that acquired the property in 2015.

June 13, 2017

Industrial Texas

NAI Arranges Sale of 41,113 SF Industrial Building in Metro Houston

by Taylor Williams June 13, 2017

PASADENA, TEXAS — NAI Partners has arranged the sale of a 41,113-square-foot industrial building situated on 2.3 acres at 2330 Pasadena Blvd. in the eastern Houston metro of Pasadena. Clay Pritchett of NAI Partners represented the seller, Whatley Properties LLC, in the transaction. Robin Webb of Bay Cam Properties represented the buyer, JGBM LLC.

June 13, 2017

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