Texas

Stream Realty Partners to Break Ground on 66-Acre Industrial Project in Fort Worth

by Taylor Williams January 30, 2019

FORT WORTH, TEXAS — Stream Realty Partners will break ground in February on Northwest Commerce Park, a 66-acre industrial project in north Fort Worth. The development will ultimately span three buildings totaling 1.1 million square feet and offer convenient access to Interstate 35 and State Highway 114, as well as Fort Worth Alliance Airport and nearby hubs for UPS and FedEx. Completion of the project, which was capitalized through a joint venture with an undisclosed global institutional investor, is slated for December.

January 30, 2019

Development Retail Texas

Cinemark to Open 14-Screen Theater at Cottonwood Creek Market in Waco

by Taylor Williams January 30, 2019

WACO, TEXAS — Cinemark Holdings Inc. (NYSE: CNK) will open a 14-screen theater within Cottonwood Creek Market, a mixed-use development in Waco by Houston-based NewQuest Properties. The venue, which is expected to open in spring 2020, will feature electric-powered, oversized recliners, wall-to-wall screens with enhanced sound systems and expanded food and beverage options. Cottonwood Creek will ultimately offer a total of 285,000 square feet of retail, restaurant and entertainment space, as well as office space and multifamily units.

January 30, 2019

Acquisitions Industrial Texas

Marcus & Millichap Arranges Sale of 42,768 SF Industrial Property in Metro Dallas

by Taylor Williams January 30, 2019

GARLAND, TEXAS — Marcus & Millichap has arranged the sale of a three-building, 42,768-square-foot industrial property in Garland, a northeastern suburb of Dallas. The buildings were constructed in 1968 on 2.8 acres. Adam Abushagur and Sam Martin of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity.

January 30, 2019

Leasing Activity Office Texas

NAI Partners Negotiates 12,084 SF Office Lease in Houston

by Taylor Williams January 30, 2019

HOUSTON — NAI Partners has negotiated a 12,084-square-foot office lease at 11550 Fuqua St. in Houston for local accounting firm Ham, Langston & Brezina LLP. According to LoopNet Inc., the Class B property was built in 1983. Griff Bandy of NAI Partners represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

January 30, 2019

Stone-Creek-Apartments-Nacogdoches-Texas

Loans Multifamily Texas

Amesbury Refinances 452-Unit Multifamily Portfolio in East Texas

by Taylor Williams January 29, 2019

KILGORE AND NACOGDOCHES, TEXAS — Amesbury Cos., a Louisiana-based development and investment firm, has refinanced a portfolio of three multifamily properties totaling 452 units in East Texas. The properties include the 124-unit Glen Hollow Apartments in Kilgore; and the 120-unit Stone Creek Apartments and the 208-unit Sunridge Apartments in Nacogdoches. All properties feature pools and community rooms. New York-based Greystone provided the FHA and Fannie Mae loans, which total approximately $19 million, to Amesbury.

January 29, 2019

Loans Multifamily Texas

NXT Capital Provides $28M Acquisition Loan for Apartment Community in Metro Austin

by Taylor Williams January 29, 2019

KYLE, TEXAS — Chicago-based NXT Capital has provided a $28 million loan for the acquisition of a 264-unit apartment community in Kyle, located about 20 miles southwest of Austin. Amenities at the undisclosed property include a pool, fitness center, outdoor gazebo with a TV and a business center. Casey Knust of CBRE placed the loan with NXT Capital on behalf of the undisclosed borrower.

January 29, 2019

Loans Multifamily Seniors Housing Texas

Hunt Capital Arranges Acquisition Loan for 151-Unit Seniors Housing Property in Houston

by Taylor Williams January 29, 2019

HOUSTON — Hunt Capital Partners has arranged a $7.2 million loan for the acquisition and rehabilitation of Anna Dupree Terrace, a 151-unit seniors housing community in Houston. The development serves elderly households whose tenants are 62 years or older or who have disabilities. Upon completion of the renovation, which is scheduled for May 2020, the property will feature amenities such as a computer lab, beauty salon and outdoor picnic areas. The borrower was not disclosed.

January 29, 2019

Leasing Activity Office Texas

NAI Partners Negotiates 19,865 SF Office Lease in Houston

by Taylor Williams January 29, 2019

HOUSTON — NAI Partners has negotiated a 19,865-square-foot office lease at 1360 Post Oak Blvd. in Houston for U.S. Well Services, a provider of hydraulic fracturing solutions. Dan Boyles and Liz Westcott-Brown of NAI Partners represented U.S. Well Services in the lease negotiations. Morgan Relyea Colt of Cushman & Wakefield represented the landlord.

January 29, 2019

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 10,500 SF Retail Property in Metro Houston

by Taylor Williams January 29, 2019

KATY, TEXAS — Marcus & Millichap has arranged the sale of a 10,500-square-foot retail property net-leased to Walgreens in Katy, a western suburb of Houston. James Bell of Marcus & Millichap represented the buyer, a limited liability company that acquired the property via a 1031 exchange. Other terms of sale were not disclosed.

January 29, 2019

Leasing Activity Office Texas

Salesforce Signs Lease at 420,000 SF Office Tower in Dallas

by Taylor Williams January 28, 2019

DALLAS — San Francisco-based software company Salesforce has signed a lease at The Union, a mixed-use property located at 2300 N. Field St. in Dallas that includes a 420,000-square-foot office tower and a 31-story residential building. The square footage of space was not disclosed, but Salesforce has confirmed it to be at least 100,000 square feet. According to brokers, the deal was the largest office lease executed in Uptown Dallas when it closed in late 2018. Clay Vaughn and Preston Lynn of CBRE represented Salesforce in the lease negotiations. John Brownlee, Gini Rounsaville and Brooke Oliver of Peloton Commercial Real Estate represented the landlord. The lease brings The Union to 90 percent occupancy. The office component of The Union opened in October 2018. The entire development is expected to be complete by spring 2019.

January 28, 2019

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