Texas

Hilti to Occupy 65,000 SF Industrial Space in Metro Dallas

by Haisten Willis May 20, 2015

IRVING, TEXAS — Hilti Inc. has signed a lease to occupy space at Parc Royal, an industrial property located on West Royal Lane in Irving. Hilti, a supplier of specialized tools and fastening systems for the construction industry, will lease 65,000 square feet of industrial space in Building 4 with an anticipated occupancy date of June 1. The 30-acre, four-building, 511,600-square-foot industrial park, completed in December 2014, is located in the DFW Airport submarket. Blake Kendrick of Stream Realty Partners represented the landlord, Jackson-Shaw, while Forshey Hoobler with JLL represented Hilti. Jackson-Shaw partnered with GID Investment Advisor LLC, a Boston-based real estate investment company, to develop the property. Texas Capital Bank provided the construction financing for the project. Mycon General Contractor Inc. was the general contractor, and GSR Andrade Architects was the architect.

May 20, 2015

NorthMarq Capital Arranges $16.4M Refinance of Office Property in San Antonio

by Haisten Willis May 20, 2015

SAN ANTONIO — Bryan Leonard of NorthMarq Capital’s San Antonio office has secured the $16.4 million refinance of The Terrace at Concord Park, a 161,563-square-foot office property located at 607 and 777 E. Sonterra Blvd. in San Antonio. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Nationwide Insurance. The property’s tenant roster includes State Farm, Wells Fargo, Schlumberger and Ryland Homes.

May 20, 2015

Multifamily Texas

M&M Arranges Sale of 9,611 SF Net-Leased Property in Metro Dallas

by Haisten Willis May 20, 2015

IRVING, TEXAS — Marcus & Millichap has arranged the sale of Golden Corral, a 9,611-square foot net-leased restaurant located in Irving. Jason Vitorino and Jared Aubrey of Marcus & Millichap’s Dallas office procured the buyer, a private investor. Golden Corral is located at 1701 N. Belt line Road. The asset is situated on 1.5 acres south of Willow Creek Drive. Retailers and restaurants such as Popeye’s Louisiana Kitchen, Wendy’s, QuikTrip, NAPA Auto Parts and Sonic Drive-In are located near the Golden Corral.

May 20, 2015

Multifamily Texas

Panther FW Investments Purchases Apartment Complex in Houston

by Haisten Willis May 20, 2015

HOUSTON — Panther FW Investments, in partnership with a Texas-based multifamily investment group, has purchased a 671-unit apartment complex in Houston. Morgan West Oaks Apartments is located at 2400 Briarwest Blvd. Panther’s business plan is to increase rental revenue through an interior rehabilitation program and exterior improvements. Panther FW Investments LLC is a private real estate investment company based in Fort Worth. Started by Tommy Pigg, Doug Kincaid and Ben Loughry, Panther focuses on direct acquisitions and investing in third-party real estate partnerships.

May 20, 2015

Office Texas

NAI Partners Arranges 20,272 SF Office Lease in Houston

by Haisten Willis May 20, 2015

HOUSTON — NAI Partners represented Heritage Texas Properties LP in the lease renewal of 20,272 square feet of office space located at the 1177 West Loop South building in Houston. Dan Boyles Jr. and Liz Westscott-Brown of NAI Partners represented Heritage Texas Properties during the lease negotiations. Michael Sieger and Wade Bowlin of RMRG | RM Realty Group represented the landlord, Spire Realty Group.

May 20, 2015

Springhill-Suites-Marriott-Chasewood-Houston

Hospitality Texas

SpringHill Suites by Marriott Opens in Northwest Houston

by Haisten Willis May 19, 2015

HOUSTON — SpringHill Suites by Marriott Houston Northwest, located at 20303 Chasewood Park Drive in Houston, is now open. The new hotel is a 139-room, all-suite property located along Highway 249 and Chasewood Park Drive and provides access to shopping, restaurants and entertainment districts. Local attractions include Vintage Park, Willowbrook Mall, Old Town Spring, Sam Houston Race Park and University Park. MAS Lodging Capital LLC, the sponsor, is a joint venture between Oldham Goodwin and TEKMAK Development that focuses on the acquisition and development of franchised hotel assets in markets throughout Texas.

May 19, 2015

Retail Texas

Vestar Awarded Management of Retail Property in Dallas

by Haisten Willis May 19, 2015

DALLAS — Vestar has been retained by a large institutional owner to handle the property management, leasing and marketing of Village on the Parkway, a 357,731-square-foot retail center situated on 31 acres in Dallas. The company plans to refresh the property’s merchandising strategy while enhancing the shopping experience. Village on the Parkway is 91 percent leased to tenants including Whole Foods Market, AMC Theatres, Neighborhood Services, Ra Sushi, Gloria’s Latin Cuisine, Yard House, AT&T, Beauty Brands and 24 Hour Fitness. Village on the Parkway is located along the Dallas North Tollway at Belt Line Road and Montfort Drive in the far north Dallas area. Vestar manages more than 23 million square feet in Texas, California, Arizona, Colorado and Nevada.

May 19, 2015

Loans Multifamily Texas

BMC Capital Provides $2.5M Acquisition Loan for Apartment Complex in Austin

by Haisten Willis May 19, 2015

AUSTIN, TEXAS — Hank Crane of BMC Capital’s Austin office has arranged a $2.5 million acquisition loan for a 36-unit apartment property located in Austin. The loan features a 75 percent loan-to-value ratio, five-year term, fixed interest rate at 4.37 percent and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s credit union correspondent relationships.

May 19, 2015

Industrial Texas

NAI Partners Arranges 30,000 SF Industrial Lease in Metro Houston

by Haisten Willis May 19, 2015

PASADENA, TEXAS — NAI Partners represented Bart Industries LP in leasing 30,000 square feet of new industrial space located at 1605-A Genoa Red Bluff in Pasadena. John Ferruzzo and Chris Kugle of NAI Partners represented the landlord, Bart Industries, while Leigh Anne Ahr of Proximity Real Estate Advisors represented the tenant, WLSC Incopro LLC.

May 19, 2015

Industrial Texas

Variosystems Buys Industrial Headquarters Site in Metro Dallas

by Haisten Willis May 19, 2015

CARROLLTON, TEXAS — Variosystems Inc. has purchased a 14,550-square-foot light industrial building in Valwood Industrial Park for its international headquarters. The electronics service company is planning to relocate in 60 to 90 days to 1628 Valwood Parkway in Carrollton from its current leased space in Southlake. Variosystems has acquired a former call center on nearly 3.5 acres from Global Harvest Church, which was represented by George Tanghongs of Lee & Associates. The property is located near I-35, I-635 and the George Bush Turnpike and was developed in 1986. The air-conditioned tech space will be retooled to include employee areas. Founded in 1993, Variosystems specializes in engineering and global project management. It employs more than 1,100 professionals in the U.S., Switzerland, Sri Lanka and China.

May 19, 2015

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