Texas

Newk’s Eatery to Open 10 New Locations in Metro Houston

by Haisten Willis May 18, 2015

HOUSTON — Newk’s Eatery, a fast-casual restaurant, has reached a development agreement with New Orleans-based Southeast Restaurant Group (SRG), founded by Elie Khoury, to open 10 new Newk’s locations in metro Houston. With the agreement, SRG becomes Newk’s largest franchisee. SRG is currently a franchisee of TGI Fridays and Chevys Fresh Mex, operating restaurants in Texas, Arkansas, Mississippi, Louisiana, Alabama, Tennessee and Florida. It also operates its own concepts, including a Mediterranean-style restaurant in the Miami area, a Creole-inspired restaurant in New Orleans and The Round House Bar & Grill, located in the Holiday Inn hotels owned by its affiliate, KFK Group. Newk’s will open nearly 30 new company-owned and franchised locations during 2015, with plans to reach 200 total units by 2018.

May 18, 2015

Office Texas

Archway Breaks Ground on Wildwood Corporate Centre II in Houston

by Haisten Willis May 18, 2015

HOUSTON — Developer Archway Properties broke ground on Wildwood Corporate Centre II, the second phase of the corporate campus for GeoSouthern Energy, on May 7. Kirksey designed Wildwood I and II with EE Reed as general contractor. Sitting adjacent to Wildwood Corporate Centre I, Corporate Centre II consists of an eight-story, 218,000-square-foot office tower; a five-level, 780-car parking garage; and a two-story, 10,000-square-foot fitness facility. Wildwood Corporate Centre II is seeking LEED Silver certification, and the project is expected to be complete in August 2016.

May 18, 2015

Multifamily Texas

Greysteel Arranges Sale of Apartment Complex in Metro Dallas

by Haisten Willis May 18, 2015

ARLINGTON, TEXAS — The Greysteel Co. has arranged the sale of West Village, a 66-unit apartment complex located at 300-310 W. Pioneer Parkway in Arlington. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel served as advisor and agent to Westside Village LP in the sale of West Village to Alpine Heritage Group LLC.

May 18, 2015

Office Texas

Hartman Acquires Office Property in Dallas

by Haisten Willis May 18, 2015

DALLAS — Hartman Hillcrest LLC, an affiliate of Hartman Short Term Income Properties XX (Hartman XX), has purchased the Commerce Plaza Hillcrest office property in Dallas. Commerce Plaza Hillcrest is a 203,688-square-foot, nine-building office complex located on Lyndon B. Johnson Freeway (IH-635) and Hillcrest Road. The property sits on 10 acres and is 74 percent leased to 95 tenants. The property primarily caters to smaller community tenants. Tenants include Signature Medical Imaging (14,410 square feet) and Playworks (5,408 square feet).

May 18, 2015

Multifamily Texas

M&M Arranges Sale of 16-Unit Apartment Building in Dallas

by Haisten Willis May 18, 2015

DALLAS — Marcus & Millichap has arranged the sale of 5905 Victor Street, a 16-unit apartment property located in Dallas. Stephen Crittenden, William Jarnagin and Michael Ware of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Crittenden, Jarnagin and Ware also procured the buyer, a local investor. The buyer acquired the property as part of a 1031 exchange with an asset in Austin. Prior to marketing the asset, the seller renovated the interiors of 40 percent of the units and then capitalized on the investment through significant rental rate increases.

May 18, 2015

Retail Texas

Bassett Place to Add Entertainment Complex in El Paso

by Haisten Willis May 15, 2015

EL PASO, TEXAS — Cypress Equities plans to renovate Bassett Place mall’s food court and add the area’s first Dave & Buster’s into the current merchant roster. Dave & Buster’s anticipates the opening of the new El Paso location at Bassett Place later this year. To make way for the nearly 36,000-square-foot entertainment destination, Bassett Place’s Café Plaza Food Court will be redeveloped into a smaller six-unit facility. The existing food court will be closed for the remainder of 2015, with new eateries slated to open during the first quarter of 2016. Built in 1962 on 56 acres of what was then the far-east side of El Paso, Bassett Place is El Paso’s original shopping center. The development is anchored by Costco Wholesale, Kohl’s, Ross, Target and Premiere Cinemas + IMAX. Specialty shops include Finish Line, Rack Room Shoes, David’s Bridal, GameStop, rue21, Express, F.Y.E and Office Depot.

May 15, 2015

Office Texas

Kubota Tractor and Credit Corp. Will Relocate to Metro Dallas

by Haisten Willis May 15, 2015

GRAPEVINE, TEXAS — Kubota Tractor Corp. (KTC) and Kubota Credit Corp. (KCC) will relocate its headquarters to Grapevine. Both companies are U.S. subsidiaries of Kubota Corp., based in Osaka, Japan, and have been planning for increased efficiency on the heels of recent expansions and an aggressive growth strategy. The move will affect about 180 employees and is expected to happen within the next 18 months. The move of Kubota’s entire Torrance, Calif. corporate headquarters to Texas is designed to put Kubota’s leadership and professional staff closer to Kubota’s major markets and its manufacturing, assembly and distribution facilities in Georgia and Kansas. The new headquarters will be large enough to initially accommodate 400 employees with room for expansion.

May 15, 2015

Office Texas

Greenbrier Cos. to Expand Colleyville Offices

by Haisten Willis May 15, 2015

COLLEYVILLE, TEXAS — Greenbrier Cos. is expanding its product development and quality engineering offices in Colleyville. In 2014, Greenbrier leased 5,993 square feet in 99 Main, Suite 200, in the Village at Colleyville. The company has leased an additional 4,480 square feet, which is all of Suite 300, for a total of just under 10,000 square feet. Martin Graham of Greenbrier Cos. represented the firm in the lease negotiations. Debra Perryman and LeAnn Brown of Silver Oak Commercial Real Estate represented the building owner, Austin-based CCI.

May 15, 2015

Restaurant Retail Texas

M&M Arranges Sale of 6,165 SF Net-Leased Property in Corpus Christi

by Haisten Willis May 15, 2015

CORPUS CHRISTI, TEXAS — Marcus & Millichap has arranged the sale of Logan’s Roadhouse, a 6,165-square-foot net-leased property located in Corpus Christi. Jason Vitorino, Adam Gottschalk and Jared Aubrey of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Vitorino, Gottschalk and Aubrey also procured the buyer, a local private investor. Logan’s Roadhouse is located at 5057 S. Padre Island Drive in Corpus Christi, adjacent to Highway 358. Built in 2007, the asset is a pad site to Academy Sports+ Outdoors, Walmart and Home Depot. At the time of listing, Logan’s Roadhouse had 13 years remaining of its original 20-year net lease.

May 15, 2015

Loans Multifamily Seniors Housing Texas

KeyBank Provides $21.3M Loan for Assisted Living Community in Metro Houston

by Haisten Willis May 15, 2015

BAYTOWN, TEXAS — KeyBank Real Estate Capital has secured a $21.3 million life insurance loan for Remington Park Baytown, an assisted living and memory care community located in Baytown. Monique Bimler of KeyBank’s Healthcare Mortgage Group arranged the 10-year, fixed-rate loan on behalf of Capital Senior Living, which was used to acquire the property. Capital Senior Living Corp. is a operator of residential communities for senior adults. The company operates 115 senior living communities with an aggregate capacity of approximately 15,000 residents.

May 15, 2015

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