Texas

NewQuest Expanding Spring Town Center in Houston

by Haisten Willis December 22, 2015

HOUSTON — NewQuest Properties will break ground on additional retail space in its 46-acre Spring Town Center in tandem with the first-quarter opening of the Grand Parkway in northwest Houston. The 320,497-square-foot Spring Town Center is the largest and closest retail development to the Kuykendahl Road exit of the Grand Parkway’s $1.1 billion extension from U.S. 290 to U.S. 59. Kuykendahl Road bisects Spring Town Center, with its northeastern corner anchored by Walmart, a 12-screen Cinemark and Palais Royale and the southeastern tract anchored by Lowe’s Home Improvement Center and Sprouts Farmers Market. NewQuest will be adding an 11,550-square-foot freestanding building on the southeastern corner. The new structure will front Kuykendahl Road, adjacent to the newly opened El Pollo Loco. Designed by NewQuest’s in-house architects, the building will deliver in the fall.

December 22, 2015

Strategic Storage Growth Acquires Self-Storage Facilities for $26.7M

by Haisten Willis December 22, 2015

SAN ANTONIO AND KINGWOOD, TEXAS — Strategic Storage Growth Trust, which is sponsored by SmartStop Asset Management, has acquired three self-storage facilities for $26.7 million. The portfolio totals 196,300 square feet of storage space and 1,400 units. The properties include one self-storage facility located in the Alamo Heights area of San Antonio, one self-storage facility located in Kingwood and another in Colorado. Another San Antonio 101,600-square-foot property is under contract and scheduled to close in January 2016. The portfolio includes 8239 Broadway, San Antonio, with 490 units and 76,700 square feet; 1671 N. Park Drive, Kingwood, with 470 units and 60,100 square feet; 875 E. Ashby Place, San Antonio, with 440 units and 83,400 square feet (under contract). The portfolio will offer climate-controlled units, drive-up units and covered RV spaces.

December 22, 2015

Loans Multifamily Texas

BMC Capital Provides $5M Acquisition Loan for Apartment Property in Lubbock

by Haisten Willis December 22, 2015

LUBBOCK, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $5 million loan for the purchase of a 213-unit apartment property in Lubbock. The loan features a 10-year fixed term at 5.9 percent interest and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s corresponding conduit relationships.

December 22, 2015

Industrial Texas

NOVUS Brokers Sale of 444 Acres at Lakeview Ranch in Denton

by Haisten Willis December 22, 2015

DENTON, TEXAS — NOVUS Realty Advisors principals John St. Clair and Grant Brodeur have completed the trade of a 444-acre tract of land at Lakeview Ranch in Denton. FSA & S Collin County purchased the investment property from owner, Canyon Energy Partners, who was represented by St. Clair, while Brodeur handled the transaction for the buyer.

December 22, 2015

Hospitality Texas

Transwestern Arranges Sale of Property in Fort Worth for Marriott Hotel

by Haisten Willis December 22, 2015

FORT WORTH, TEXAS — Transwestern’s retail group has arranged the sale of a 95,132-square-foot property at the southwest corner of Royalty and Northwest Centre drives in Fort Worth for the construction of a Marriott-branded hotel. Transwestern’s Steve Williamson and Mason Bishop represented the seller, LQ Development, in the transaction. Ryan Patterson and Phil Patterson of Texas Hotel Brokers LLC represented the buyer.

December 22, 2015

Industrial Texas

ML Realty Partners Arranges Industrial Leases in Metro Dallas

by Haisten Willis December 21, 2015

COPPELL, TEXAS — ML Realty Partners has arranged four industrial leases in Coppell. Park West Crossing, a recent four-building development, has leased 95,125 square feet to Classic Auto Air Manufacturing, JAS Forwarding (USA), DSBJ Precision Mechanical and JFC International. Park West Crossing is located immediately north of Dallas/Fort Worth International Airport with frontage on Freeport Parkway.

December 21, 2015

Office Texas

Colliers International Arranges Office Lease in Metro Houston

by Haisten Willis December 21, 2015

MISSOURI CITY, TEXAS — Colliers International has arranged four office leases at the Rotunda Building located at 5819 Highway 6 in Missouri City. Texas Children’s Hospital signed a new lease for 4,857 square feet, and Traci Holman and Jason Baker of Baker Katz represented the tenant. The Speech and Learning Center renewed its lease and expanded to 1,972 square feet and Transact NAP renewed and expanded to 3,796 square feet. Trivesta signed a new lease for 2,660 square feet on the first floor. Barkley Peschel of Colliers International represented the landlord, Rotunda, in all of the lease transactions.

December 21, 2015

Office Texas

Three Office Towers at CityLine Achieve LEED Gold Certification

by Haisten Willis December 21, 2015

RICHARDSON, TEXAS — The first three office towers at KDC’s CityLine development have achieved LEED Gold certification from the U.S. Green Building Council (USGBC). KDC is developing CityLine, a 186-acre mixed-use development in Richardson. State Farm is leasing 1.5 million square feet in buildings One, Two and Three CityLine. LEED is a green building certification program led by the USGBC that recognizes best-in-class building strategies and practices. A third-party verification process is used to determine that a building has been designed and built using strategies aimed at improving overall performance. To receive LEED Gold certification, the three office towers were evaluated in six areas: sustainable sites, water efficiency, energy and atmosphere, indoor environmental quality, regional priority and innovation in design. Phase II of construction, which includes the fourth State Farm office tower at CityLine, began in July 2014, with completion slated for mid-2016. It consists of a 12-story office tower situated above a five-level parking structure with 30,000 square feet of ground-floor retail. The tower is located on the northeast corner of State Street and Plano Road, directly across Plano Road from the other three towers leased by State Farm.

December 21, 2015

Retail Texas

M&M Arranges Sale of 4,857 SF Net-Leased Property in Laredo

by Haisten Willis December 21, 2015

LAREDO, TEXAS — Marcus & Millichap has arranged the sale of Wells Fargo Laredo Heights, a 4,857-square-foot net-leased property located in Laredo. Blake Burnett of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, an individual/personal trust. Burnett also procured the buyer, an individual/personal trust. Wells Fargo Laredo Heights is located at 1220 Guadalupe St. and was built in 1989. According to the seller, the original lease commenced in 2002 and Wells Fargo recently signed a five-year extension.

December 21, 2015

Industrial Texas

Cushman & Wakefield Arranges Sale of 468-Acre Property in Fort Worth

by Haisten Willis December 21, 2015

FORT WORTH, TEXAS — Cushman & Wakefield has completed the sale of a 468-acre tract of land along the Chisholm Trail Parkway in southwest Fort Worth. Provident Realty Advisors, a privately held real estate and investment firm, purchased the property, commonly known as the Pate Ranch. The Cushman & Wakefield team of Chris Harden, Tom Salanty, Kyle Vinson and Kristopher Von Hohn represented the seller. The property, located south of Altamesa between Bryant Irvin Road on the west and the $1.4 billion Chisholm Trail Parkway on the east, has over a mile of commercial frontage along the 27.6-mile toll road, which extends from downtown Fort Worth south to Cleburne. The property is located near the Hulen Mall retail district and Texas Health Harris Methodist Hospital Southwest Fort Worth.

December 21, 2015

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