Texas

Red House Cajun Restaurant Coming to Metro Dallas

by Haisten Willis April 24, 2015

COLLEYVILLE, TEXAS — Red House Cajun Seafood Restaurant is coming to Colleyville and will be located in a 7,609-square-foot restaurant building at 5120 Highway 121. Nearby restaurants include Rio Mambo and LaHacienda Ranch. Red House will offer crab, lobster, shrimp and crawfish, as well as fish and traditional gumbo. Mark Boone of Irving-based Realty Capital Management LLC, along with Allison Cornwell, represented the landlord. Greg Blandford with Position Property Group represented the tenant.

April 24, 2015

Loans Multifamily Texas

NorthMarq Arranges $10.5M Construction Loan for Apartment Complex in South Texas

by Haisten Willis April 24, 2015

INGLESIDE, TEXAS — Elliot Auerbacher of NorthMarq Capital’s New York regional office has arranged a $10.5 million construction loan for Seaside Landing Apartments, a 120-unit multifamily property located at Highway 361 and Main Street in Ingleside. The transaction was structured with a five-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national bank.

April 24, 2015

Market Reports Retail Texas Texas Market Reports

Tourism, Medical Center Drive El Paso Economy

by Haisten Willis April 24, 2015

In 2014, El Paso, along with the rest of the country, enjoyed a vibrant, active and growing economy, and we anticipate El Paso will continue its solid growth in 2015 and beyond. Similar to the rest of the country, El Paso continued to add jobs across all sectors, resulting in reduced unemployment and increased household income. In addition, a number of factors unique to the region have made El Paso a wonderful place to do business. Fort Bliss, always vital to the El Paso economy, continues its growth. A new 1 million-square-foot medical center, which will employ approximately 4,000 people, will open in 2016. El Paso has experienced substantial additions to its medical sector. Tenet Healthcare Corp. has added a new wing to its Eastside Hospital and recently announced a new hospital to be constructed on the northwest side in conjunction with Texas Tech University Health Sciences Center El Paso. In addition, both Tenet and Hospital Corp. of America (HCA) continue their rapid placement of urgent care, emergency care and other satellite facilities around the city. As many people know, El Paso benefits from economic growth outside its city limits as well. Union Pacific is making huge investments in Santa …

April 24, 2015

Mixed-Use Texas

Mixed-Use Project Planned for Galleria/Uptown District in Houston

by Haisten Willis April 23, 2015

HOUSTON — Tilman J. Fertitta has broken ground on The Post Oak, a mixed-use, master-planned project in Houston combining hotel, office, residential, retail and restaurant offerings in one tower. The new development will be located in the Galleria and Uptown area along West Loop South, with access from Loop 610, Holly Hurst Street and Hallmark Drive. Rising above the 10-acre mixed-use development will be a 35-story tower with an adjacent ballroom. The 650,000-square-foot tower will accommodate 240 hotel rooms, more than 120,000 square feet of boutique office space and 22 apartment units. Amenities will include a two-story spa and salon, restaurants and retail and over 1,000 parking spaces.

April 23, 2015

Office Texas

Texas Children’s Hospital to Expand With 19-Story Tower

by Haisten Willis April 23, 2015

HOUSTON — Texas Children’s Hospital, in collaboration with FKP Architects, will add a $506 million, 19-story patient tower to its campus as part of a $575 million capital investment. The new tower will sit on top of an existing six-story base adjacent to Texas Children’s Pavilion for Women. FKP’s Houston office will lead planning and design for the project, which is expected to be complete in 2018. Pediatric Tower E will initially offer 129 beds for pediatric and cardiovascular intensive care, along with new operating rooms. It will also be the home of the relocated Texas Children’s Heart Center, including a new outpatient clinic, cardiovascular operating rooms, dedicated cardiology beds and catheterization labs. The Heart Center will move out of the West Tower, making way for additional acute care beds. The project will be funded in part from the Texas Children’s Promise Campaign.

April 23, 2015

Industrial Texas

Transwestern Arranges Sale of Industrial Property in Fort Worth

by Haisten Willis April 23, 2015

FORT WORTH — Transwestern’s Fort Worth office has arranged the sale of Riverbend Center on behalf of Klabzuba Realty LLC. Riverbend Complex LLC purchased the industrial/flex property located at 2301 – 2435 Gravel Drive and 7401 – 7445 Pebble Drive in Fort Worth for an undisclosed price. Steve Rowland, Jeff Givens and Tracy Georges of Transwestern represented the seller, Klabzuba. The 188,355-square-foot, four-building property was 90 percent leased at the time of sale. Riverbend Center includes 5,000 square feet of excess land for potential additional parking. Todd Lambeth of Colliers International represented Riverbend Complex in the transaction.

April 23, 2015

Retail Texas

HFF Brokers Sale of Power Center in Metro Houston

by Haisten Willis April 23, 2015

KATY, TEXAS — HFF has brokered the sale of Green Tree Shopping Center, a 147,658-square-foot, 99 percent leased power center in Katy. HFF arranged the sale of the property on behalf of the seller, a tenants-in-common ownership group managed by Joseph and Henry Mandelbaum of RealTax Inc. Inland American Real Estate Trust Inc. purchased the asset for an undisclosed amount. Tenants include TJ Maxx, PetSmart, Office Depot, Party City, Five Below, Ulta Salon, Famous Footwear, Mattress Firm, Bath & Body Works, GNC and Castle Dental. Target and Randall’s shadow-anchor the center. Renovated in 2004, the Green Tree Shopping Center spans 21.6 acres at 231-515 South Fry Road in Katy, a suburb west of Houston. Ryan West, Rusty Tamlyn, Matt Berry and Robbie Kilcrease led the HFF investment sales team representing the seller.

April 23, 2015

Retail Texas

M&M Arranges Sale of Retail Development Land Site in Metro Houston

by Haisten Willis April 23, 2015

MAGNOLIA, TEXAS — Marcus & Millichap has arranged the sale of a five-acre development site at FM 1488 and Carriage Hills located in Magnolia. Derek Hargrove of Marcus & Millichap’s Houston office handled the acquisition on behalf of the buyer, The Marcel Group. The buyer will begin construction of a new mixed-use development during the second quarter. Based in The Woodlands, The Marcel Group has developed and sold over 1 million square feet of retail and office projects.

April 23, 2015

Office Texas

CBRE Arranges Sale Of NBCUniversal Regional Headquarters in Dallas

by Haisten Willis April 22, 2015

DALLAS — CBRE Capital Markets’ Investment Properties has arranged the sale of NBCUniversal Regional Headquarters, a 75,000-square-foot, single-story Class A office asset in Dallas. The LEED-certified building was completed in 2013. The property is fully leased to NBCUniversal Media LLC, a wholly owned subsidiary of Comcast Corp., and serves as the regional headquarters, broadcasting and multimedia news facility for NBC/KXAS-TV, Telemundo and NBCUniversal. Olympus Ventures purchased the asset from KDC for an undisclosed price. Eric Mackey, Gary Carr, John Alvarado, Robert Hill and Pete Van Amburgh of CBRE represented the seller.

April 22, 2015

Retail Texas

Trulan Brokers Sale of Berry Oaks Shopping Center in Metro San Antonio

by Haisten Willis April 22, 2015

BULVERDE, TEXAS —Trulan Property Advisors has brokered the sale of the Berry Oaks Shopping Center, a 19,000-square-foot building located at 19851 Highway 46 in Bulverde. The property was 100 percent occupied at the time of sale. Jason Middlebrook of Trulan Property Advisors represented the seller, a San Antonio-based development partnership. Jimbo Cotton of McAllister and Associates represented the buyer, a private partnership.

April 22, 2015

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