Texas

Retail Property Sold for $4.7M in Houston

by Haisten Willis April 8, 2015

HOUSTON — The San Diego and Houston offices of Colliers International have arranged the sale of a 10,125-square-foot, single-tenant retail property located at 959 Bay Area Blvd. in Houston for $4.7 million. A CVS that has 11 years reaming on its 22-year lease occupies the property. Jon Busse and Charles Herder of Colliers International represented the seller, Burlingame Gulf LLC. David Wells of Wells Net Lease Group and JRW Realty represented the buyer, Exchange Right Real Estate LLC. The buyer is a tenant in common entity that specializes in the acquisition of single tenant, net-leased properties.

April 8, 2015

CBRE Arranges Sale of 1000 Main Office Tower in Houston

by Haisten Willis April 7, 2015

HOUSTON – CBRE has arranged the sale of 1000 Main, a Class A office tower located in the Houston Central Business District. The 36-story office tower includes 836,015 rentable square feet. Union Investment Real Estate purchased the asset, built in 2003, from Invesco Real Estate for an undisclosed price. Metzler Real Estate advised Union Investment, a European asset manager, in the transaction. CBRE’s Russell Ingrum, Bernard Branca and Jared Chua represented the seller. The property was awarded LEED Gold Certification from the U.S. Green Building Council in 2013. Gensler & Associates and Century Development Corp. designed and built the property.

April 7, 2015

Multifamily Seniors Housing Texas

Stroud Cos. Arranges Sale of Four Assisted Living Facilities in Texas

by Haisten Willis April 7, 2015

HOUSTON, AUSTIN AND ODESSA, TEXAS —Dallas-based Stroud Development and Stroud Investments have finalized the sale of four assisted living and memory care communities in the Houston, Odessa and Austin Markets to ROC Seniors. The sale, valued at more than $70 million, was financed using the HUD 232 debt program and has been a joint venture project with Orchard Park Senior Living. Development began in 2011. Bedford, Texas-based Arrive Architecture Group designed the Orchard Park communities. Each community serves 57 assisted living residents and includes a separate secured wing serving 40 Alzheimer’s and/or dementia care residents. The Orchard Park communities also feature landscaped courtyards, private dining amenities, special events venues, fitness and wellness areas, therapy rooms and a salon. Additional services include transportation, wellness programs, weekly linen and housekeeping services and assistance with activities of daily living.

April 7, 2015

Industrial Texas

Lee & Associates Arranges 73,986 SF Sale of Industrial Property in Metro Dallas

by Haisten Willis April 7, 2015

CARROLLTON, TEXAS — Lee & Associates arranged the sale of a 73,986-square-foot industrial building located at 1207 Crosby Road in Carrollton. Nathan Denton of the Dallas/Fort Worth office of Lee & Associates represented the buyer, 1207 Crosby Partners I LLC. Scott Moore with Holt Lunsford Commercial represented the seller, Thackery Partners.

April 7, 2015

Office Texas

Colvill Arranges 35,053 SF Office Lease Renewal in Dallas

by Haisten Willis April 7, 2015

DALLAS — Colvill Office Properties has arranged a 35,053-square-foot office lease renewal on behalf of Hines REIT to Greenberg Traurig at Chase Tower, a 1.3 million-square-foot, Class A tower in downtown Dallas. Blaine Hale and Cameron Colvill of Colvill Office Properties represented Hines in the lease negotiations. Phil Puckett, Jeff Ellerman and Harlan Davis of CBRE represented the tenant. Located at 2200 Ross Ave., Chase Tower is undergoing a capital improvement campaign, which will include the addition of a new fitness center, new executive lounge and boardroom, new main entry and sky lobby and updates to the parking garage.

April 7, 2015

Retail Texas

Coldwell Banker Commercial Brokers Sale of Shopping Center in Metro Austin

by Haisten Willis April 7, 2015

PFLUGERVILLE, TEXAS — The Net Leased Investment Group for Coldwell Banker Commercial has arranged the sale of Pflugerville West Shopping Center in Pflugerville. The 67,149-square-foot shopping center was 89 percent leased at the time of the sale. Parker Carroll of Coldwell Banker Commercial represented the seller, Retail Pflugerville Partners, in the transaction. The buyer was not named.

April 7, 2015

Multifamily Texas

Greysteel Arranges Sale of Apartment Complex in Metro Dallas

by Haisten Willis April 6, 2015

EULESS, TEXAS — The Greysteel Co., a Washington, D.C.-based real estate investment services firm, has arranged the sale of Royal Terrace, a 120-unit apartment community located at 306 Martha St. in Euless. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel represented the Copperstream Investments LLC in the sale of Royal Terrace to the buyer, Amar Patel. Royal Terrace offers access to both Dallas and Fort Worth via Highway 183 (Airport Freeway) and Highway 360. The property has undergone recent improvements including new electrical room panels and wiring, new shingle mansards and exterior paint.

April 6, 2015

Retail Texas

Construction Begins on New EECU Credit Union Location in Metro Dallas

by Haisten Willis April 6, 2015

FORT WORTH, TEXAS — Construction has begun on EECU Credit Union’s 14th location in metro Dallas, which will be known as the Heritage Trace branch. Plans call for the 2,800-square-foot building, which will be smaller than other EECU branches, to use new technologies to make the most of the space. The facility will include video conferencing stations for members to chat with specialists as well as a self-service bar where members can complete simple transactions on tablets. The Hillwood development will be located in Alliance Town Center. The credit union expects to complete construction on the branch in August, and will follow with a grand opening. The branch will feature drive-thru banking, an ATM and night depository.

April 6, 2015

Industrial Texas

Stitch Fix to Open Distribution Center in Dallas

by Haisten Willis April 6, 2015

DALLAS — Stitch Fix, an online personal styling service for women, is set to open its third distribution center, which will be located in Dallas. The new distribution center, on Cockrell Hill Road, will open in June 2015 and will help the company serve clients in Texas and the southern United States. Stitch Fix, which is headquartered in San Francisco and also has an office in Austin, employs more than 200 stylists in the Dallas region. The company plans to hire 400 to 500 employees for the 316,000-square-foot facility, with plans to continue to grow the team in 2016. Hugh Scott and Kurt Griffin of JLL represented Stitch Fix in its search for a Dallas distribution hub.

April 6, 2015

Retail Texas

M&M Arranges Sale of 20,000 SF Retail Property in Austin

by Haisten Willis April 6, 2015

AUSTIN, TEXAS —Marcus & Millichap has arranged the sale of Star Center, a 20,000-square-foot retail property located in Austin. Michael Buckner and Richard Mireles, investment specialists in Marcus & Millichap’s Austin office, marketed the property on behalf of the seller, a partnership. Buckner and Mireles also secured the buyer, The Blood & Tissue Center of Central Texas. Star Center is located at 3110 W. Slaughter Lane.

April 6, 2015

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