Texas

M&M Arranges Sale of Mixed-Use Development in Colleyville

by Haisten Willis November 13, 2015

COLLEYVILLE, TEXAS — Marcus & Millichap has arranged the sale of The Village at Colleyville, a medical office and multifamily mixed-use building in Colleyville. The property was 100 percent occupied at the time of the sale. Nick Fluellen, Ron Hebert, Bard Hoover, Trey Caldwell and Scott Ogilvie of Marcus & Millichap’s Dallas office procured the buyer, a 1031-exchange investor. Built in 2009, the property is located at 5232 Colleyville Blvd. in Colleyville. The building features 15,000 square feet of medical office space and 30 multifamily units. Colleyville Family Medicine leases the medical office space.

November 13, 2015

Industrial Market Reports Multifamily Office Retail Texas Texas Market Reports

Growing Pains — The History, Revitalization and Relocation to Austin’s CBD

by Haisten Willis November 13, 2015

Operating as our state’s political core and as the “live music capital of the world”, Austin’s real estate market is as distinctive as the people that make this city great. Austin is a one-of-a-kind place that’s unique to Texas and the entire country. It defies stereotypes with its progressive and fiercely entrepreneurial spirit, and continually gets top marks for its quality of life, pro-business culture and pro-environment views. WalletHub recently ranked Austin as the 2015 best large city to live in and the data matches up — the city ranks second among 2015’s fastest-growing cities in the U.S., according to Forbes, behind Houston and ahead of Dallas-Fort Worth. In the era of ‘Walker, Texas Ranger,’ Emmitt Smith and ‘the Dream Team,’ and the release of ‘Dazed and Confused,’ the tech boom of the 1990s drove the Austin office market. During that same time, Austin’s total population increased 35 percent and close to 1,750 companies employed over 110,000 people in technology-related jobs in Austin. By the end of the 90s, Texas’ capital city was widely known as Silicon Hills, home to a critical mass of institutional technology knowledge and major tenants like Dell, IBM, Motorola and other software and gaming companies. …

November 13, 2015

Mixed-Use Retail Texas

Gables Residential Breaks Ground on Las Colinas Mixed-Use Development

by Haisten Willis November 12, 2015

IRVING, TEXAS — Gables Residential has broken ground on a mixed-use development in the Las Colinas area of Irving. Gables Water Street, located off of John W. Carpenter Freeway (SH 114), will consist of 316 apartment homes in three five-story buildings. Gables Water Street will offer efficiencies along with one-, two-and three-bedroom apartment homes averaging 960 square feet. Interior finishes will include stainless steel appliances, granite countertops, under mount sinks, framed mirrors, tile backsplash and wood-style flooring. Community amenities will include two areas with views of Lake Carolyn, two fitness centers, a business and mail center, game room, pool and outdoor kitchen. Retail tenants will include Olivella’s, Twisted Root Burger, Main Street Bistro and Bakery, Planet Sub and The Londoner Pub. The community will be located one mile from the Irving Music Factory, which is under construction. Comerica Bank, Cadence Bank and the city of Irving provided financing for the project, and WDG is the architect for the development. Water Street is located a block from a DART light rail connection to the central business district and Dallas/Fort Worth International Airport. The mixed-use community also offers its own transit station for the elevated rail system that runs around the Las …

November 12, 2015

Industrial Texas

MiTek to Expand Houston Warehouse to 50,000 SF

by Haisten Willis November 12, 2015

HOUSTON — MiTek is expanding its Houston warehouse to 50,000 square feet to offer more product variety, inventory and fastest order fulfillment rates. MiTek expanded the Houston warehouse to address the needs of local contractors and do-it-yourself customers, where the company has seen increased demand. The warehouse is open and will reach its new full capacity in January of 2016. The expansion is aimed at reducing ship times and heightening customer responsiveness.

November 12, 2015

Loans Multifamily Texas

New York Life Originates Loan for Ascent Victory Park in Uptown Dallas

by Haisten Willis November 12, 2015

DALLAS — New York Life Real Estate Investors has originated construction-to-permanent loan financing for Ascent Victory Park, a 302-unit, Class A apartment complex set to be built in Dallas. The fixed-rate loan has a 10-year term and will be used to finance the construction and leasing of the property. Ascent Victory Park will be located adjacent to the American Airlines Center in the mixed-use Victory Park development in Uptown Dallas. Located less than one mile from the Dallas central business district, the property will offer access to Victory Park and Uptown retail, dining and entertainment amenities, as well as the Katy Trail bike path. John Lippmann of New York Life Real Estate Investors manages the national bridge loan and construction finance program. Andy Scott of HFF’s Dallas office acted as mortgage banker in the transaction.

November 12, 2015

Retail Texas

NOVUS Brokers Land Deals to Make Way for Midlothian Towne Center

by Haisten Willis November 12, 2015

MIDLOTHIAN, TEXAS — Renzo Cella of NOVUS Realty Advisors has negotiated the sale of 31.8 acres on the southeast corner of the Highway 287 Bypass and FM 663 for the development of Midlothian Towne Center. Cella represented the seller in the transaction and helped negotiate the sale to Weber & Co., which plans to develop the 53-acre regional shopping center. Kroger Marketplace will anchor the development and could be joined by other big-box retailers. Construction is slated to begin March 2016 with an estimated completion date in April 2017. The shopping center will also feature an additional 10 pad sites for retailers and restaurants. Midlothian is located in northwest Ellis County. The city has seen a 136 percent increase in population since 2000.

November 12, 2015

Industrial Texas

MYCON Breaks Ground on First Arlington Commerce Center II

by Haisten Willis November 12, 2015

ARLINGTON, TEXAS — MYCON General Contractors has broken ground on First Arlington Commerce Center II, a 234,100-square-foot warehouse facility located at 4551 New York Road in Arlington. First Industrial Realty Trust Inc. is the owner/developer of the project, and Pross Design Group is the architect. First Arlington Commerce Center II is slated for completion in mid-year 2016.

November 12, 2015

Retail Texas

Phase I of Junction at Deer Park Opens With H-E-B Grocery Store

by Haisten Willis November 11, 2015

DEER PARK, TEXAS — Phase I of The Junction at Deer Park, a retail center developed by the Houston office of Cencor Realty Services and located at the northeast quadrant of Spencer Highway and East Boulevard, is now open. The center, designed to incorporate as much as 400,000 square feet of retail space upon completion, is anchored by an 83,000-square-foot H-E-B grocery store. In addition to H-E-B, the center is designed with seven pad sites. A total of 14,600 square feet of in-line space on Spencer Highway adjacent to the H-E-B fuel station is in the planning stages. Cencor is planning the remainder of the center, which will include several big-box tenants. James Namken, Randy Hopper and Kyle Knight with The Weitzman Group are handling leasing at The Junction at Deer Park. The new H-E-B will include a bakery, business center, deli, sushi bar, large produce department and pharmacy. The Junction at Deer Park is Cencor’s second retail project at the intersection of Spencer Highway and East Boulevard. Cencor also developed Deer Park Station, a retail center shadow-anchored by Walmart.

November 11, 2015

Multifamily Texas

Greysteel Arranges Sale of Townhome Apartments in Metro Dallas

by Haisten Willis November 11, 2015

DESOTO, TEXAS — Greysteel has arranged the sale of Townhome Apartments, a 14-unit, garden-style community in DeSoto. Greysteel’s multifamily investment sales team led by Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill served as advisor and agent to the seller, a local private investor, in the sale of Townhome Apartments to Cove Townhomes LLC. Townhome Apartments is located less than three miles from I-35E.

November 11, 2015

Industrial Multifamily Office Retail Texas

Fort Worth Sperry Van Ness Offices Merge into Sperry Van Ness / Trinity Advisors

by Haisten Willis November 11, 2015

FORT WORTH, TEXAS — Commercial brokers Steve Fithian and James Blake have merged their Fort Worth Sperry Van Ness offices together into Sperry Van Ness / Trinity Advisors. The merger brings together Fithian’s Sperry Van Ness / Visions Commercial office and Blake’s Sperry Van Ness / Summit Commercial office. The newly merged office, located at 5601 Bridge St., Ste. 504 in Fort Worth, provides commercial real estate brokerage, leasing, consulting and property management on all commercial property types. Fithian has more than 25 years of commercial real estate experience. His specialty primarily has been in multifamily, but has lately also focused on retail and office properties. Fithian also organizes, manages and acts as the general partner in real estate syndications. Blake has more than 30 years of commercial real estate experience. His primary focus is retail and industrial income-producing properties. He also specializes in single-tenant net lease retail and is working to put together a single-tenant net lease team at Sperry Van Ness / Trinity Advisors to represent clients in the purchase and sale of these properties. The company has a total of six advisors and eight employees.

November 11, 2015

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