Texas

Hillwood Buys Newly Built, 350,171 SF Industrial Property in Austin

by Taylor Williams February 13, 2019

AUSTIN, TEXAS — Hillwood has acquired Southpark Commerce Center V, an industrial property in Austin that totals 350,171 square feet across three buildings. Southpark Commerce Center V is located near Interstate 35 and State Highway 71, and within four miles of downtown Austin and Austin-Bergstrom International Airport. Buildings feature rear-load designs, 24- to 28-foot clear heights and ESFR sprinkler systems. The property was 50 percent leased at the time of sale. Trent Agnew, Adam Herrin, John Taylor, Stephen Bailey and Dom Espinosa of HFF represented TDC in the sale.

February 13, 2019

Leasing Activity Office Texas

CBRE Negotiates 126,000 SF Office Lease Renewal in Downtown Houston for Energy Firm

by Taylor Williams February 13, 2019

HOUSTON — CBRE has negotiated a 126,000-square-foot office lease renewal at 717 Texas, a 697,195-square-foot property in downtown Houston, on behalf of Calpine, a provider of natural gas and geothermal resources. Calpine has been an anchor tenant at the 33-story building, which is owned and developed by Hines, since 2003. Lucian Bukowski of CBRE represented Calpine in the lease negotiations. Win Haggard of Colvill Office Properties represented Hines.

February 13, 2019

Loans Multifamily Texas

HFF Arranges Acquisition Financing for 306-Unit Apartment Community in San Antonio

by Taylor Williams February 13, 2019

SAN ANTONIO — HFF has arranged an undisclosed amount of financing for the acquisition of Legacy Heights, a 306-unit multifamily community in San Antonio. Built on 13.6 acres in 2009, the property offers one-, two- and three-bedroom units ranging in size from 610 to 1,400 square feet. Amenities include a pool, fitness center, clubhouse with a game room and outdoor grilling areas. Robert Wooten of HFF arranged the funds through Annaly Commercial Real Estate Group on behalf of the borrower, Regional Investment & Management. The asset was 95 percent occupied at the time of sale.

February 13, 2019

Acquisitions Office Texas

Thor Equities Purchases Newly Built Austin Office Campus for $16M

by Taylor Williams February 13, 2019

AUSTIN, TEXAS — Thor Equities Group has purchased 1005 East St. Elmo Road, a 60,000-square-foot office campus in Austin, for $16 million. The property was built in 2017 and fully leased at the time of sale to tenants such as Skull Mechanix and Fuse Architecture Studio. The seller was not disclosed.

February 13, 2019

Development Industrial Texas

Hillwood to Develop Three New Spec Buildings Totaling 1.5 MSF at AllianceTexas

by Taylor Williams February 12, 2019

FORT WORTH, TEXAS — Hillwood will develop three buildings totaling approximately 1.5 million square feet on its AllianceTexas campus in Fort Worth. Two buildings (Buildings 4 and 5) will be developed on the Alliance Northport campus and one will be developed on the Alliance Westport campus. Hillwood expects to break ground on the new buildings, which are being developed on a speculative basis, in March and to complete them during the fourth quarter. RGA Architects designed the Northport buildings and GDA Architects designed the Westport building. Inwood Bank and Simmons Bank provided construction financing for Buildings 4 and 5, respectively, at Northport, while Bank of America originated construction financing for the Westport property.

February 12, 2019

Leasing Activity Office Texas

Westdale, KDC Announce First Tenants at 251,000 SF Office Tower in Dallas

by Taylor Williams February 12, 2019

DALLAS — Developers Westdale and KDC have announced the first tenants to join The Epic office tower, a 251,000-square-foot property in Dallas. The Epic is an eight-acre mixed-use development situated at the intersection of downtown Dallas, Deep Ellum and the Dallas Farmers Market. Westdale will occupy 39,124 square feet in the office tower beginning in June. Coworking firm Spaces has leased 47,026 square feet, and Asian restaurant and lounge Komodo will occupy a total of 22,200 square feet of interior and exterior seating space. The Epic’s office building will feature a fitness center, office terraces, multiple collaborative workspaces and a seventh-floor amenity deck with views of downtown Dallas.

February 12, 2019

Development Multifamily Texas

Sovereign Properties Breaks Ground on $73M Apartment Community in Metro Dallas

by Taylor Williams February 12, 2019

ALLEN, TEXAS — New York-based development firm Sovereign Properties has broken ground on Sovereign at Twin Creeks, a $73 million project that will bring 366 multifamily units to the northeastern Dallas metro of Allen. Amenities will include a resort-style pool, fitness center, business lounge and a resident clubhouse. The development will also feature a 15,000-square-foot medical office building adjacent to the community. Davis Bros. Construction is the general contractor for the project, which is expected to be complete by late summer 2020.

February 12, 2019

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Negotiates Sale of Newly Built, 14,000 SF Industrial Asset in Houston

by Taylor Williams February 12, 2019

HOUSTON — Lee & Associates has negotiated the sale of a 14,000-square-foot industrial asset located at 6635 Theall Road in Houston. According to LoopNet Inc., the single-tenant property was built in 2017 and features 28-foot clear heights. Robert McGee, Thomas Leger and Chase Cribbs of Lee & Associates represented the seller, Axis Texas Development Group LLC, in the transaction. Clint Hankla, also with Lee & Associates, represented the buyer, CCIRF LLC.

February 12, 2019

Acquisitions Multifamily Texas

Greysteel Arranges Sale of 20-Unit Multifamily Property in Dallas

by Taylor Williams February 12, 2019

DALLAS — Greysteel has arranged the sale of Prospect Avenue Apartments, a 20-unit multifamily property in Dallas. The property was built in 1945 and renovated in 2018. Doug Banerjee, Boyan Radic, Andrew Mueller, Andrew Hanson, Scott Simon and Jack Stone of Greysteel arranged the transaction on behalf of the seller. Other terms of sale were not disclosed.

February 12, 2019

Loans Multifamily Texas

Mason Joseph Provides $29.2M HUD Construction Loan for San Antonio Apartments

by Taylor Williams February 11, 2019

SAN ANTONIO — Local multifamily lender Mason Joseph Co. Inc. has provided a $29.2 million loan for the construction and permanent financing of Potranco Apartments, a 244-unit apartment project in San Antonio. Mason Joseph originated the loan, which features a fixed interest rate for the 18-month construction period and subsequent 40-year term, through the HUD’s 221(d)(4) program. The developer of the project is Lev Investments, which has offices in California and Dallas.

February 11, 2019

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