Texas

Construction Begins on Apartment Tower in Houston

by Haisten Willis November 4, 2014

HOUSTON — Marquette Cos., in partnership with Hunt Cos. and Ares Management have begun construction on Catalyst Houston. The 28-story luxury apartment building is located at 1423 Texas Ave. in Houston’s central business district. The building is scheduled for completion in the summer of 2016. Houston-based architect Ziegler Cooper designed the tower, which will include 361 apartment units with one-, two- and three-bedrooms layouts. The apartments will feature views of downtown and Minute Maid Park, with amenities including hardwood floors, quartz countertops, stainless steel appliances, floor-to-ceiling windows and private balconies. Community amenities will include a Wi-Fi lounge, outdoor dog run with a pet wash, a club room, meeting room, gym and swimming pool.

November 4, 2014

Moody Rambin Arranges Office Lease Renewal, Expansion in Houston

by Haisten Willis November 4, 2014

HOUSTON — Moody Rambin has arranged a lease renewal and expansion for Margolis Brady Raghavan Financial Inc. at the 2000 W. Loop South building in Houston. The lease is for 4,593 square feet of office space. Bob Cromwell and Kevin Nolan of Moody Rambin represented the building’s owner, SRI Nine 2000 WL LP. Scott Covington with SE Covington represented the tenant, Margolis Brady Raghavan.

November 4, 2014

Industrial Texas

NAI Houston Brokers 10,215 SF Lease Renewal in Beaumont

by Haisten Willis November 4, 2014

BEAUMONT, TEXAS — NAI Houston represented Spring Safety in the company’s lease renewal of 10,215 square feet in Beaumont. The property is located at 3880 Washington St. Jason Whittington of NAI Houston represented the tenant, Spring Safety, a division of Spring Holdings Inc., in the transaction. Ryan Harrington of Foxworth Real Estate Co. Ltd. represented the landlord, Perth United Limited Partnership. Sprint Safety is a rental company specializing in safety, breathing air and confined space entry equipment.

November 4, 2014

Retail Texas

CBRE Arranges Sale of Retail Center in Metro Dallas

by Haisten Willis November 3, 2014

PLANO, TEXAS — CBRE Capital Markets’ has arranged the sale of Towne Square Shopping Center in Plano. Dallas-based Norman J. Hoppenstein purchased the retail center from an undisclosed seller. Towne Square is a 151,982-square-foot center that is 53 percent occupied. Tenants include Dollar General, Rent-A-Center, Inwood National Bank and Shipley Do-Nuts. The four-building asset sits at the corner of Parker Road and Alma Drive. Jennifer Pierson, Beth Pierson and Cameron Deptula of CBRE’s Dallas office represented the seller.

November 3, 2014

Multifamily Texas

Capital One Provides $19.5M Loan for Apartment Complex in Austin

by Haisten Willis November 3, 2014

AUSTIN — Capital One Multifamily Finance has provided a $19.5 million Fannie Mae fixed loan for the acquisition of City Point, a 396-unit apartment complex in Austin. Firmus Equity Partners was the borrower. Adam Bieber with Capital One’s Bethesda, Maryland office originated the transaction. The property was built in 1983 and is located near the intersection of I-35 and U.S. Highway 290. The borrower plans to complete interior renovations. The seven-year loan features two years of interest-only payments and a 30-year amortization schedule.

November 3, 2014

Retail Texas

M&M Arranges Sale of Net Leased Property in Metro Houston

by Haisten Willis November 3, 2014

CYPRESS, TEXAS — Marcus & Millichap has arranged the sale of Northlake Forest Shopping Center, a 20,340-square-foot retail property in Cypress. Watt Harrison and James H. Bell of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a partnership. Bell and Harrison also secured the buyer, a private investor. Northlake Forest Shopping Center is located at 15210 Spring Cypress Road.

November 3, 2014

Multifamily Texas

Performance Properties Acquires Apartment Complex in Dallas

by Haisten Willis November 3, 2014

DALLAS — Performance Properties LLC has acquired the 370-unit Linda Vista Apartments in Dallas. The company plans to spend $1.3 million on renovations at the complex. The apartments are located at 13450 Manham Road and were 98 percent leased at the time of sale. Linda Vista consists of 18 buildings and was built in 1980. Units average 667 square feet with a mix of one- and two-bedroom layouts.

November 3, 2014

Industrial Texas

NAI Houston Arranges Sale of Industrial Building in Houston

by Haisten Willis November 3, 2014

HOUSTON — NAI Houston has arranged the sale of a 27,000-square-foot spec building located on 3.3 acres at 9851 Genard Road in Houston. Chris Kugle and John Ferruzzo of NAI Houston represented the seller, Brennan Investments. John Nicholson of Cassidy Turley represented the buyer, Ferguson Enterprises Inc.

November 3, 2014

Market Reports Texas Texas Market Reports

Eagle Ford Shale is Largely Resonsible for San Antonio’s Growing Economy

by Haisten Willis October 31, 2014

Positive economic indicators in the San Antonio metro area are bolstering commercial real estate operations. Companies are expanding or relocating to San Antonio, attracted by the diverse economy and skilled workforce. Over the past year, all major employment sectors contributed to job gains. San Antonio recovered all of the jobs lost during the recession some time ago and there is no sign of slowing down. One of the strongest economic contributors is the extraction of oil and natural gas in the Eagle Ford Shale south of San Antonio, which generates thousands of jobs and billions of dollars in output. Heightened production in shale is boosting construction. Recently, Republic Midstream announced a $400 million pipeline and terminal system at Eagle Ford Shale. Additionally, the expanding government sector is fueling job growth due in part to the region’s extensive military operations. As employment prospects grow and a comparatively low cost of living draws new residents to San Antonio, demand for rental housing is strengthening. With single-family home prices on the rise, the renter pool is growing as the gap between owning and renting widens. Effect on Multifamily Sector Capitalizing on these trends during 2014, multifamily developers will deliver one of the largest …

October 31, 2014

Hospitality Texas

Dallas Cowboys and Omni Hotels to Build Hotel in Metro Dallas

by Haisten Willis October 31, 2014

FRISCO, TEXAS — The Dallas Cowboys and Omni Hotels & Resorts are partnering to develop a new hotel at the future site of the Cowboys’ headquarters in Frisco. The Omni property will be one of the only full-service hotels in the area and will serve as part of a mixed-use development anchored by the team headquarters and Frisco’s multi-use event center. The hotel will feature 300 guestrooms, meeting space, a ballroom and a rooftop pool deck. The Cowboys’ headquarters will be the home to the team’s entire football operations, including administrative offices, coaches’ offices and home of the team cheerleaders. The mixed-use development will span 66 acres of the 90-acre tract.

October 31, 2014

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