Texas

ARA Newmark Arranges Sale of 112-Unit Apartment Complex in Austin MSA

by Haisten Willis November 30, 2015

ROUND ROCK, TEXAS — ARA Newmark has arranged the sale of Brushy Creek Village, a 112-unit apartment community located in Round Rock, a suburb of Austin. The property was 100 percent occupied at the time of the sale. Andrew Shih and James Young of ARA Newmark represented the seller, Steinmetz Family Trust, in the transaction. NGKF Capital Markets and ARA Newmark’s Patrick Short arranged financing through Freddie Mac on behalf of the buyer, a private investor out of San Diego. Brushy Creek Village is a garden-style community that was constructed in 1984 with brick and wood siding. Community amenities include a pool, laundry facilities, eight-foot ceilings and a washer and dryer connection in select units.

November 30, 2015

M&M Arranges Sale of 146-Room Courtyard By Marriott in Dallas

by Haisten Willis November 30, 2015

DALLAS — Marcus & Millichap has arranged the sale of The Courtyard Dallas-LBJ at Josey, a 146-room hotel with a long-term franchise agreement. Chris Gomes of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s San Antonio office, represented the seller and procured the buyer, both Dallas-based private investment groups. The three-story concrete structure was built in 1986 and went through renovations and upgrades in 2014 and 2015, including the addition of modern amenities and finishes throughout. Common areas include an on-site restaurant with bar, sundry shop, fitness center and two event rooms with a total of 1,248 square feet of event space.

November 30, 2015

Industrial Texas

Advanced Flooring & Design Opens Distribution Center in Plano

by Haisten Willis November 30, 2015

PLANO, TEXAS — Advanced Flooring & Design, headquartered in Montgomeryville, Pa., has opened its first distribution center west of the Mississippi River, signing a long-term lease for 20,682 square feet in Plano. Advanced Flooring & Design has set up shop in Jupiter Center Building B, a 72,388-square-foot warehouse located at 2901 Technology Drive. Clint Manning and Brian Pafford of Dallas-based Bradford Commercial Real Estate Services represented the tenant. Advanced Flooring & Design has distribution centers in nine states and design studios in four. Jupiter Center will be used for distribution of floor coverings, countertops, window coverings and sheet vinyl. Paul Tichacek of JSC Realty & Investments represented the landlord, Property Reserve Inc.

November 30, 2015

Industrial Texas

NAI Partners Arranges Sale of 45,000 SF Industrial Building in Houston

by Haisten Willis November 30, 2015

HOUSTON — NAI Partners represented Foxmark Corp. in the acquisition of a 45,000-square-foot industrial building located on 6.5 acres at Mason Creek Business Park in Houston. The building will be used for manufacturing as well as a gallery showroom. Foxmark Corp. manufactures and delivers image and visual solutions. Lane Morgan with NAI Partners represented Foxmark Corp. during the negotiations, while Darryl Noon of Transwestern represented the seller, Transwestern Development.

November 30, 2015

Office Texas

Final Phase of Renovations Underway at One Riverway Office Building in Houston

by Haisten Willis November 25, 2015

HOUSTON — CBRE and Unilev Management Corp. are now in the final phase of a multimillion-dollar renovation project at One Riverway in Houston. The 481,000-square-foot, 25-floor, Class A office building is located on the north side of the Galleria/Uptown area, directly adjacent to the Omni Hotel at Woodway Drive and South Post Oak Lane. Renovations include a new backup power generator, cooling towers, restaurant/deli, conferencing center, fitness facility, interior elevator cab upgrades and corridor upgrades. A lobby renovation will include a coffee/smoothie bar. Tenants at One Riverway include Northwestern Mutual, Texas Capital Bank, Regus Group, Thompson Coe Cousins, Wright & Close, EMC and PLS. Steve Rocher, Kristen Rabel and Parker Duffie with CBRE’s Houston office are the leasing representatives for One and Three Riverway. Unilev Management Corp. owns One and Three Riverway, provides on-site management and is also a tenant in the building.

November 25, 2015

Industrial Texas

Aligned Data Centers Opens New Facility in Plano

by Haisten Willis November 25, 2015

PLANO, TEXAS — Aligned Data Centers, a division of Aligned Energy, has opened a new data center in Plano. The Aligned Plano data center, situated on a 19-acre campus at 2800 Summit Ave., offers 108,000 square feet and 12.5 megawatts of power. When complete, the site will provide 300,000 square feet and 30 megawatts.

November 25, 2015

Industrial Office Texas

NAI Partners Represents Tool-Flo Manufacturing in Land Purchase for New Facility

by Haisten Willis November 25, 2015

PEARLAND, TEXAS — NAI Partners represented Tool-Flo Manufacturing in the acquisition of 15 acres to build an 80,000-square-foot metal machining facility and office located in the Spectrum Business Park in Pearland. Tool-Flo Manufacturing began operation in Houston in January 1978. The company serves the carbide threading and grooving market globally. Tool-Flo employs manufacturer’s representatives to cover the United States and to service the U.S. distributor network. The markets Tool-Flo serves include automotive, aerospace and medical and oil industry products and basic domestic manufacturers. Dan Boyles Jr. and Lane Morgan of NAI Partners represented the buyer, Tool-Flo Manufacturing, during the negations, while Justin Patchen of Urban Meridian Group represented the seller, Spectrum 86 Partners.

November 25, 2015

Industrial Texas

Lee & Associates Negotiates 197,600 SF Industrial Lease in Fort Worth

by Haisten Willis November 25, 2015

FORT WORTH, TEXAS — Lee & Associates has completed a lease transaction for a 197,600-square-foot space located at 5400 Alliance Gateway Freeway in Fort Worth. Trey Fricke and Reid Bassinger of Lee & Associates represented the landlord, Liberty Property Trust, and Gary Lindsey of Newmark Grubb Knight Frank represented the tenant.

November 25, 2015

Retail Texas

Pierson Retail Advisors Arranges Sale of Main Street Center in Frisco

by Haisten Willis November 25, 2015

FRISCO, TEXAS — Pierson Retail Advisors (PRA) has arranged the sale of Main Street Center, a 53,207-square-foot shopping center located in Frisco. The retail center is 98.8 percent leased to tenants including Subway, Pizza Hut, Kelly-Moore Paints, State Farm and Texas Family Fitness. PRA represented the seller, Bo Avery, Main FM 423 LLC. Bill Morris of Morris Capital Partners, along with Terry Syler of The Retail Connection, purchased the asset. The entire team at Pierson Retail Advisors in Dallas handled the sale.

November 25, 2015

Hospitality Texas

Carey Watermark Investors Acquires Le Meridien Dallas, The Stoneleigh

by Haisten Willis November 24, 2015

DALLAS — Carey Watermark Investors Inc. (CWI 1) has acquired Le Meridien Dallas, The Stoneleigh, a 176-room hotel in Uptown Dallas. Originally built in 1923, Le Meridien Dallas, The Stoneleigh is an Art Deco-style hotel that is listed on the National Register of Historic Places. The hotel underwent a $36 million renovation in 2008. Since then, $4.5 million has been spent to further upgrade the property, and in early 2016, an additional $4 million renovation is planned for guestroom and corridor updates, the addition of an outdoor courtyard event space, a pool and other enhancements. Le Meridien, a Starwood Hotels & Resorts brand, is a global hotel brand with a portfolio exceeding 100 hotels in more than 50 countries. The hotel will continue to be managed by Merritt Hospitality, an affiliate of HEI Hotels & Resorts, a hospitality owner and operator that owns and manages 48 hotels and resorts throughout the United States. Merritt Hospitality manages the Westin Pasadena, Westin Minneapolis, Sheraton Austin at the Capitol and the Boca Raton Marriott at Boca Center for CWI 1. Le Meridien Dallas, The Stoneleigh includes 8,900 square feet of meeting and event space, a three-meal restaurant, lobby bar, outdoor pool and event …

November 24, 2015

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