Texas

SACA Arranges Sale of Shopping Center in San Antonio

by Haisten Willis March 31, 2015

SAN ANTONIO — San Antonio Commercial Advisors (SACA) has arranged the sale of Nogalitos Shopping Center, a 16,279-square-foot shopping center located at 3002 Nogalitos St. in San Antonio. Brent Smith and Bradley Suttle of SACA represented the seller in the transaction and also procured the Houston-based buyer. Built in 1963, Nogalitos Shopping Center is fully leased with 66 percent of the square footage on a long-term lease with O’Reilly Auto Parts. SACA is an independently owned and operated member of the Cushman & Wakefield Alliance.

March 31, 2015

Dougherty Mortgage Arranges $4.3M Loan for Apartment Complex in Dallas

by Haisten Willis March 30, 2015

DALLAS — Dougherty Mortgage LLC has arranged a $4.3 million Fannie Mae loan for the refinance of American Beauty Mill Lofts, an 80-unit multifamily market rate apartment property located in Dallas. Dougherty’s Dallas office arranged the 10-year, interest-only loan for the borrower, American Beauty Lofts Ltd. American Beauty Mill Lofts offer loft apartments located in downtown Dallas. Formerly a flour mill warehouse, the retrofitted loft apartments feature open floor plans, 15-foot ceilings and stained concrete flooring.

March 30, 2015

Restaurant Retail Texas

The Woodmont Co. Arranges Ground Lease in Metro Dallas

by Haisten Willis March 30, 2015

MANSFIELD, TEXAS — The Woodmont Co. has arranged a ground lease with Raising Cane’s Chicken Fingers at Mansfield Town Center. Raising Cane’s is a restaurant chain offering chicken fingers as its only main course. Raising Cane’s expects to open their 2,650-square-foot restaurant this summer. Bryan Dyer of The Woodmont Co. represented the owner of Mansfield Town Center, Kossman Development Co, in the transaction. Kevie Beard of Venture Commercial represented the unnamed tenant. Mansfield Town Center is located at the intersection of U.S. Highway 287 and Cooper Street in Tarrant County. The center is 96 percent leased and boasts more than 40 retailers.

March 30, 2015

Multifamily Texas

M&M Arranges Sale of 100-Unit Apartment Complex in Odessa

by Haisten Willis March 30, 2015

ODESSA, TEXAS — Marcus & Millichap has arranged the sale of Village Place, a 100-unit multifamily property located in Odessa. Joe James and Kent Myers of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a Texas-based development company. Village Place is located at 1100 Milburn Ave., within one mile of U.S. Highway 385 and one mile from I-20. The property was built in 1971.

March 30, 2015

Industrial Texas

NAI Partners Arranges Lease of 12.3-Acre Rail Yard in Houston

by Haisten Willis March 30, 2015

HOUSTON — NAI Partners has arranged the sale of a 12.3-acre rail yard in Houston. Clay Pritchett and John Ferruzzo of NAI Partners represented landlord, W&P Development Corp. in the transaction. Swift Transportation was the tenant. The rail yard is located in the San Jacinto River & Rail Park, 18511 Beaumont Highway, in Houston.

March 30, 2015

Market Reports Retail Texas Texas Market Reports

Medical Sector, Eduation Push Economic Development in Tyler

by Haisten Willis March 30, 2015

The commercial real estate market in the Tyler metropolitan area experienced one of its best years in 2014. Led by the retail sector, a number of new leases and sales brought a bevy of businesses to the market. The city of Tyler has a population of around 100,000, while the metro area contains 222,000. Tyler is the retail and medical center of northeast Texas, with a trade area population of 415,000. The city experienced strong population growth of 15.8 percent from 2000 to 2010. The Tyler economy is fueled by the medical sector, which accounts for 20 percent of all employment. Trinity Mother Frances hospital employs 4,000; East Texas Medical Center accounts for over 3,200 jobs; and the University of Texas Health Center at Tyler has total employment of 865. Because of the outstanding medical facilities in the city, patients from a 14-county area come to Tyler for medical care. Another strong driver for the local economy is the existence of higher education opportunities. The University of Texas at Tyler continues its strong growth, boasting a total enrollment of more than 6,400, while Tyler Junior College serves 35,000 students. Both of these schools are expanding. UT Tyler’s engineering school has …

March 30, 2015

Loans Multifamily Texas

KeyBank Provides $22.9M Loan for Apartment Complex in Metro Houston

by Haisten Willis March 27, 2015

CYPRESS, TEXAS — KeyBank Real Estate Capital has secured a $22.9 million Freddie Mac CME loan for Avenues at Cypress, a multifamily apartment complex located in Cypress. The 240-unit, garden-style apartment complex was built in 2014. Chris Black of Key’s Commercial Mortgage Group arranged the financing, which was used to purchase the property from the developer. Stabilized occupancy is projected to be achieved this April.

March 27, 2015

Retail Texas

C1S Group Completes Renovation of Historic Industrial Building in Dallas

by Haisten Willis March 27, 2015

DALLAS — C1S Group, a Dallas-based engineering and construction firm, has restored a historic commercial building in Dallas’ Deep Ellum neighborhood. The property has been renovated to become the Bomb Factory, a new music venue. Clint and Whitney Barlow own the property. Westdale Real Estate Investment and Management is the developer. The venue is designed for live concert audiences from an early 20th century building. Originally an automotive plant and then a munitions factory during World War II, the Bomb Factory can now accommodate as many as 4,300 concert attendees. C1S Group transformed the 50,000-square-foot facility, located on Canton Street near downtown Dallas, by removing and replacing the existing roof structure in order to increase the overall facility height to 38 feet. This provides unobstructed views throughout and also allows for the addition of a mezzanine level for added capacity and to create a VIP area. The building contains a new stage, several bar areas, and artist amenities including including four dressing rooms, on-site laundry and workout facilities. The renovation also includes a new HVAC system as well as a new electrical system. The opening night performance on March 26 featured Dallas native and two-time Grammy winning performer Erykah Badu. …

March 27, 2015

Multifamily Texas

CBRE Arranges Sale of Two Apartment Complexes in Dallas

by Haisten Willis March 27, 2015

DALLAS — CBRE Capital Markets has arranged the sale of Chapel Brook Apartments in northeast Dallas and Crosswinds Apartments in west Dallas. In a double tax exchange, Crosswinds Estates LLC purchased Chapel Brook from Santa Barbara, Calif.-based EXC Ventures LLC, while EXC Ventures LLC purchased Crosswinds Apartments from Crosswinds Estates LLC. Chris Deuillet of CBRE represented both sellers. Chapel Brook Apartments is a 204-unit community at 9765 Webb Chapel Road in the Bachman Lake area. It was constructed in 1969 and is 93 percent occupied. Crosswinds Apartments is a 48-unit, value-add community at 515 W. 10th St. in the Bishop Arts District. It was constructed in 1964 and is 96 percent occupied.

March 27, 2015

Retail Texas

Syndicate Fund Purchases Burleson Retail Center in Metro Dallas

by Haisten Willis March 27, 2015

BURLESON, TEXAS — Bloomfield Frontline Burleson Retail LLC has purchased a 17,860-square-foot shopping center located at 1055 SW. Wilshire Blvd. in Burleson. The company is a syndication partnership set up by managing partners Steve Fithian and Thomas Wilson. Clint Montgomery of Sperry Van Ness/Visions Commercial represented the seller, SPCP Group VI LLC. Built in 2008 on 2.3 acres, the retail center is located in the main Burleson retail corridor, adjacent to a Walmart. Tenants include CATO Fashions, Shoe Show, Fred Loya & Rodney D. Young Insurance, World Finance Corp. of Burleson and Perla Dental. The property was purchased through a real estate syndication set up by Fithian and Wilson.

March 27, 2015

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