Texas

M&M Arranges Sale of 13,925 SF Retail Property in Metro Houston

by Haisten Willis July 1, 2015

SUGAR LAND, TEXAS — Marcus & Millichap has arranged the sale of Creekside at Town Center, a 13,925-square-foot retail property located at the southeast corner of Highway 6 and Southwest Freeway in Sugar Land. Tenants in the property include TDECU, Verizon Wireless, Mattress Firm and an orthodontist office. The immediate area is the focal point for Fort Bend County’s retail and office developments. The asset had a list price of $7.4 million. Jerry Goldstein of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Goldstein also secured and represented the buyer, a partnership. Creekside at Town Center is located at 2109 Highway 6 S.

July 1, 2015

Johnny Rockets Signs Deal to Bring Restaurants to El Paso

by Haisten Willis July 1, 2015

EL PASO, TEXAS — Johnny Rockets has arranged a development agreement with Cruzar Group LLC to open Johnny Rockets restaurants in El Paso, including the brand’s new Route 66 expression. Johnny Rockets’ Route 66 drive-thru prototype will offer its all-American menu to travelers and consumers. In addition to the upcoming El Paso location, current Johnny Rockets franchise partners are under construction to open additional restaurants in San Antonio and Laredo. Franchisees are seeking new real estate to meet consumer demand, especially within the Hispanic market.

July 1, 2015

Multifamily Student Housing Texas

MJW Investments Acquires Gateway at Lubbock at Texas Tech University

by Haisten Willis July 1, 2015

LUBBOCK, TEXAS — MJW Investments has acquired Gateway at Lubbock, a Class A, 744-bed student housing property located at Texas Tech University. MJW Investments closed escrow on Gateway at Lubbock on June 23. Gateway at Lubbock is the most recent acquisition associated with the $200 million student housing value-add fund established by MJW Investments. The company has acquired more than 3,000 beds in the past two years. Based in Santa Monica, Calif., MJW Investments is the majority owner of a $450 million diversified real estate portfolio. Over the past 30 years, the firm has developed and/or owned more than 5 million square feet and has a history of transactions in excess of $850 million.

July 1, 2015

Retail Texas

Metropolitan Capital Arranges $3.8M Construction Loan for Teel Crossing in Metro Dallas

by Haisten Willis July 1, 2015

FRISCO, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA), a financial intermediary specializing in the representation of investors, developers and property owners, has secured a $3.8 million construction loan for Teel Crossing, a planned retail shopping center situated on 5.8 acres on the northeast quadrant of Teel Parkway and Main Street in Frisco. Teel Crossing will consist of 20,020 square feet of in-line retail and a one-acre pad site fronting Main Street. Scott Lynn and Brandon Wilhite of MCA placed the loan with the Dallas office of BB&T.

July 1, 2015

Restaurant Retail Texas

Baker Katz Acquires 2.1-Acre Property with 13,000 SF Office Building in Houston

by Haisten Willis July 1, 2015

HOUSTON — Houston-based Baker Katz has acquired a 2.1-acre property with an existing 13,000-square-foot office building located near the cross streets of U.S. Highway 59 North and West Little York Road in Houston. Located at 10810 Eastex Freeway, the initial plans for the property include the addition of a 7,000-square-foot retail space and pad site for a restaurant. Construction on the new building is slated to begin in 2016.

July 1, 2015

Multifamily Seniors Housing Texas

McFarlin Group to Develop New Seniors Housing Community in San Antonio

by Haisten Willis June 30, 2015

SAN ANTONIO — Dallas health-services developer and owner McFarlin Group plans to develop its ninth senior living community. The Heritage at Westover Hills Assisted Living and Memory Care, to be located near the southwest corner of Wiseman Boulevard and Rogers Road in San Antonio, will commence construction tomorrow. The Heritage will include 100 beds for assisted living and memory care residents. The property will be located near Christus Santa Rosa Hospital. The Heritage also plans to offer companion living suites and will feature three interior landscaped courtyards, private dining amenities, special events venue and a spa/salon. Additional services include transportation, medication management, nursing services and wellness programs, linen, laundry and housekeeping services and assistance with activities of daily living.

June 30, 2015

Industrial Texas

Sealy & Co., AEW Arrange Sale of 1.48M SF Texas Industrial Portfolio

by Haisten Willis June 30, 2015

DALLAS, HOUSTON AND SAN ANTONIO — Sealy & Co. has arranged the sale of an industrial portfolio that consists of 19 assets totaling 1.48 million square feet located in Dallas, Houston and San Antonio. The portfolio was part of Sealy’s joint venture holdings with global real estate investment management firm, AEW Capital Management. AEW owned the portfolio on behalf of AEW Partners VII LP, the seventh in AEW’s opportunistic fund series. The portfolio is 91 percent leased and consists primarily of multi-tenant, net-leased industrial facilities.

June 30, 2015

Loans Multifamily Texas

NXT Capital Provides Mortgage for Acquisition of Apartment Property in Austin

by Haisten Willis June 30, 2015

AUSTIN, TEXAS — NXT Capital has financed the acquisition of a Class B garden style apartment project located in Austin. The amount of the transaction was not disclosed. The property is located in south Austin, less than one block from IH-35, Austin’s major north-south thoroughfare. It also offers access to central Austin’s restaurants, bars and clubs. Community amenities include picnic areas with grills, a swimming pool and a clubroom.

June 30, 2015

Office Texas

National Asset Services Arranges Sale of Houston Office Building

by Haisten Willis June 30, 2015

HOUSTON — National Asset Services (NAS) has arranged the sale of 602 Sawyer St. on behalf of 22 tenant-in-common co-owners. The property, an 85,923-square-foot, seven-story office building, is located in the Midtown submarket of Houston. The tenant-in-common investors purchased the property in 2008. Originally built in 1982, the office property underwent renovations in 1999. NAS represented the tenant-in-common group during the negotiations that resulted in the sale for an undisclosed amount to Houston-based Griffin Partners, who represented themselves in the transaction. NAS assumed asset management responsibility of the property in February 2013 and oversaw several property improvement projects including a remodeling project of the corridors, elevator cabs and restrooms. Prior to the sale, NAS renewed the lease of one of the property’s major tenants, the Houston Police Officer’s Pension System, for a 12,670-square-foot space. At the time of sale, the property was 92 percent leased.

June 30, 2015

Industrial Texas

NAI Partners Negotiates Purchase of 115,000 SF Industrial Building in Houston

by Haisten Willis June 30, 2015

HOUSTON — NAI Partners represented Electro-Tech Industries in the acquisition of a 115,000-square-foot industrial building located at 303 W. Little York in Houston. Founded in 2000, Electro-Tech Industries (ETI) offers custom design, manufacturing, testing and field service for electrical power distribution equipment and systems. David Boyd and Greg Barra with Boyd Commercial represented the seller, EJKeith Commercial Properties LP, during negotiations. Chris Caudill of NAI Partners represented Electro-Tech Industries in the negotiations.

June 30, 2015

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