Texas

PEARL GREENWAY COMMUNITY IN HOUSTON OPENS

by admin June 18, 2013

HOUSTON — The Morgan Group has launched its luxury Pearl apartment community brand with the grand opening of Pearl Greenway in Houston. The 341-unit, luxury community is located in Houston's Greenway Plaza area at 3788 Richomnd Ave. Pearl Greenway includes electric car charging stations, door-to-door recycling services, a cyber cafe, business center, lounge, upscale fitness center, Las Vegas-style swimming pool, Zen lap pool, covered bar area, grills, private cabanas and a dog park. The Morgan Group will managed the new community.

June 18, 2013

CADENCE MCSHANE COMPLETES $16M ELEMENTARY SCHOOL

by admin June 18, 2013

HOUSTON — Cadence McShane Construction Co. has completed the new 86,000-square-foot Atherton Elementary School in Houston. The $16 million school is located at 2011 Solo St. in Houston. The new school can accommodate more than 750 students. The school features 30 classrooms, two science laboratories, library, full-service cafeteria, practice gymnasium, music and choir room and a performing arts area. IDG Architects provided architectural services for the new school.

June 18, 2013

Industrial Texas

CBRE ARRANGES SALE, $25.5M FINANCING FOR INDUSTRIAL PROPERTIES

by admin June 18, 2013

COPPELL, TEXAS — CBRE Capital Markets has arranged the sale and $25.5 million in acquisition financing for Coppell Commerce Center and Coppell Business Center in Coppell. Jack Fraker, Josh McArtor, Jonathan Bryan and Heather McClain Venegoni of CBRE represented the seller, a global investment manager, in the transaction. Scott Lewis, Matt Ballard and Patrick Benoist of CBRE also worked on behalf of Lincoln Advisory Group, an affiliate of Lincoln Property Co., to arrange the two permanent loans. The CBRE team arranged the loans through Allstate and Bank of America. The two industrial properties total 771,720 square feet and were a combined 91 percent occupied at the time of sale.

June 18, 2013

Office Texas

CON-WAY MULTIMODAL SIGNS LEASE AT HALL OFFICE PARK

by admin June 18, 2013

FRISCO, TEXAS — Hall Financial Group has signed Con-way Multimodal to a 9,821-square-foot lease in the 2 million-square-foot Hall Office Park. The freight brokerage firm's office is located at 2611 Internet Blvd. in Frisco. The lease deal includes a 3,240-square-foot expansion and an extension for the 6,581-square-foot current lease. Kim Butler, Tammy Nellis and Brad Gibson were the in-house representation for Hall Financial Group in the lease deal.

June 18, 2013

Mixed-Use Texas

DAVIS BROKERS SALE OF THREE MIXED-USE BUILDINGS NEAR RICE

by admin June 18, 2013

HOUSTON — Davis Commercial has arranged the sale of three mixed-use buildings totaling 6,870 square feet near Rice University in Houston. The properties are located at 1840 and 1842 Bissonnet St. The buyer, Mary Rutherford, intends to use the buildings as an art studio and residence. Tracy Etie of Texas Real Estate & Co. represented the buyer in the transaction. Jonathan Hicks of Davis Commercial represented the seller, Key Maps Inc.

June 18, 2013

Multifamily Texas

KEYBANK CLOSES TWO FANNIE MAE LOANS TOTALING $57.5M

by admin June 17, 2013

HOUSTON — KeyBank Real Estate Capital has closed two Fannie Mae multifamily deals totaling $57.5 million in the Houston area. The two loans include $29.3 million for the 336-unit Century Westway and $28.2 million for the 223-unit Century Galleria Lofts. Jane Harrison and Joe Fadus of KeyBank arranged the acquisition financing on behalf of the borrower, Centennial Holding Co. LLC.

June 17, 2013

Industrial Texas

BH PROPERTIES BUYS DISTRIBUTION CENTER FOR $8.6M

by admin June 17, 2013

HIDALGO, TEXAS — Los Angeles-based BH Properties LLC has purchased the 313,120-square-foot Tres Puentes Distribution Center for $8.6 million. The property is located at 1501 International Blvd. in Hidalgo. The purchase falls in line with BH Properties' focus on acquiring industrial properties near the Mexican border. The company plans on adding border facilities in Texas, Arizona and California in the next two years.

June 17, 2013

Hospitality Texas

CBRE | HOTELS ARRANGES SALE OF STAYBRIDGE SUITES IN DALLAS

by admin June 17, 2013

DALLAS — CBRE | Hotels has arranged the sale of the 129-room Staybridge Suites in Dallas, located at 16060 Dallas Parkway. The seller, Driftwood Hospitality Management, sold the hotel to a Texas-based buyer that plans to implement a full renovation of the property. Bert Stevens of CBRE | Hotels in Dallas represented the seller in the transaction. This sale is the 12th hotel closing for CBRE | Hotels in Dallas.

June 17, 2013

Retail Texas

LINSALATA REALTY SECURES SALE OF SAN ANTONIO SHOPPING CENTER

by admin June 17, 2013

SAN ANTONIO — Austin-based Linsalata Realty Services has brokered the sale of the 10,012-square-foot Old Pearsall Road Shopping Center in southwest San Antonio. The property is located at 6388 Old Pearsall Road. Joe Linsalata of Linsalata Realty Services represented the buyer, Studio City, Calif.-based Manhattan-Pearsall LLC, in the transaction. Alan Rust and Ryan Hoff of Retail Solutions represented the seller.

June 17, 2013

Market Reports Texas Texas Market Reports

Dallas/Fort Worth Industrial Market is Positioned for Growth

by admin June 17, 2013

The Dallas/Fort Worth industrial market has performed very well during the past three years. Healthy market fundamentals have created an environment in DFW that is highly conducive for robust growth, though the sluggish national economic recovery will cause some volatility in the pace of that growth. Strong job gains, an expanding position as a global distribution hub and local market confidence are all characteristics driving industrial market performance. The warehouse/distribution sector drove demand in the DFW industrial market during the first quarter of 2013, with flex space also in demand. Net absorption of industrial space across the Metroplex totaled 1.3 million square feet during the first quarter of 2013, with warehouse/distribution product accounting for 62 percent of the space taken. This compares to 2012 when net absorption of warehouse/distribution space totaled 8.8 million square feet, making up for move-outs in the manufacturing sector. Total net absorption for all product types was 8.3 million square feet during 2012. Industrial inventory is expanding in DFW with approximately 3.7 million square feet of industrial space under construction or renovation as of March 2013. This compares to 2.1 million square feet under construction or renovation one year ago. Developers are responding to a lack …

June 17, 2013

Newer Posts

Older Posts