Texas

Thorofare Capital Provides $36M for Refinancing of Two-Building Office Complex in Dallas

by Taylor Williams November 21, 2018

DALLAS — California-based Thorofare Capital has provided a $36 million loan for the refinancing of Heritage Square I & II, an office complex totaling 368,214 square feet in Dallas. The Class A property is located at the corner of Interstate 635 and the North Dallas Tollway. Proceeds will be used to repay a maturing loan and fund tenant improvements, leasing commissions and other capital expenditures. The loan was provided to the borrower, Brookwood Heritage Square LLC, an entity sponsored by Brookwood Financial Partners LLC, which acquired the asset in 2013.

November 21, 2018

Civic Development Texas

Grand Prairie Opens 125,000 SF Fitness, Entertainment Center in Metro Dallas

by Taylor Williams November 21, 2018

GRAND PRAIRIE, TEXAS — The City of Grand Prairie, located just west of Dallas, has opened The Epic, a 125,000-square-foot fitness and entertainment center. Situated within EpicCentral, a 172-acre development that includes a water park and adult activity center, The Epic features fitness facilities, entertainment and event space, as well as multiple onsite dining options. Architecture firm HKS designed the facility. The grand opening was held Saturday, Nov. 17. The development team will also break ground in January on a 10-acre PlayGrand Adventures park, which will be also located within EpicCentral.

November 21, 2018

The-Hamlins-at-Cedar-Creek-Lake-Kemp-Texas

Loans Multifamily Texas

Dougherty Closes $12.6M Acquisition Loan for Apartment Property in Kemp, Texas

by Taylor Williams November 21, 2018

KEMP, TEXAS — Dougherty Mortgage LLC has closed a $12.6 million Fannie Mae acquisition loan for The Hamlins at Cedar Creek Lake, a 208-unit multifamily property in Kemp, about 50 miles southeast of Dallas. The community offers one- and two-bedroom units and amenities such as a resort-style pool, resident clubhouse, fitness center, business center and package handling service. The loan, which was arranged through a partnership with Old Capital Lending on behalf of the borrower, TFG Hamlins LLC, featured a 12-year term and 30-year amortization schedule.

November 21, 2018

Leasing Activity Office Texas

Coworking Firm to Open 28,000 SF Space at Greenway Plaza in Houston

by Taylor Williams November 21, 2018

HOUSTON — CommonGrounds, a San Diego-based coworking concept, will open a 28,000-square-foot space at Greenway Plaza in Houston. The space will be integrated into The Hub, the center of the 11-building office campus. The space, which will be the company’s second in Texas and 12th overall, is slated to open in spring 2019.

November 21, 2018

Acquisitions Lee & Associates Office Texas

Lee & Associates Brokers Sale of 20,954 SF Office Building in Angleton, Texas

by Taylor Williams November 21, 2018

ANGLETON, TEXAS — Lee & Associates has brokered the sale of a 20,954-square-foot office building located at 2309 W. Mulberry St. in Angleton, a city situated roughly 50 miles south of Houston. Reed Vestal and Taylor Schmidt of Lee & Associates represented the seller in the transaction. Debbie Cowart of Coldwell Banker Commercial represented the buyer. Both parties requested anonymity.

November 21, 2018

Development Mixed-Use Texas

Convexity Properties to Develop 590,000 SF Mixed-Use Project in Dallas’ Highland Park

by Taylor Williams November 20, 2018

DALLAS — Convexity Properties, a subsidiary of Chicago-based trading firm DRW, will develop The Crossing, an eight-acre mixed-use project in Dallas. The Crossing will be located near the Mockingbird Station mixed-use development in the Highland Park area. The project will feature 90,000 square feet of street-level retail and restaurant space, as well as 500,000 square feet of multifamily space, which according to The Dallas Morning News equates to 330 units. Part of the project entails improving an existing eight-story, 225,000-square-foot office building. A timeline for construction has not yet been established.

November 20, 2018

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Brokers Sale of 29,900 SF Industrial Property in Dallas

by Taylor Williams November 20, 2018

DALLAS — Lee & Associates has brokered the sale of a 29,900-square-foot industrial property located at 10930 Petal St. in northeast Dallas. According to LoopNet Inc., the single-tenant property was built in 2003. Brett Lewis, Taylor Stell and George Tanghongs of Lee & Associates represented the seller in the transaction. Scott Axelrod of Henry S. Miller represented the buyer. Both parties requested anonymity.

November 20, 2018

Acquisitions Retail Texas

EDGE Realty Negotiates Purchase of 14,230 SF Retail Center in Houston

by Taylor Williams November 20, 2018

HOUSTON — EDGE Realty Capital Markets has negotiated the purchase of Harrisburg Retail Center, a 14,230-square-foot asset located at 7011 Harrisburg Blvd. in the East Downtown submarket of Houston. Turimex Internacional, one of the largest transportation companies in Mexico and the United States, anchors the property. Burdette Huffman and Josh Jacobs of EDGE Realty represented the undisclosed seller in the transaction. Mark Kalil of Mark Kalil & Associates represented the buyer.

November 20, 2018

Acquisitions Retail Texas

Retail Solutions Arranges Sale of 13,905 SF Former Walgreens in Houston

by Taylor Williams November 20, 2018

HOUSTON — Retail Solutions has arranged the sale of a 13,905-square-foot retail property in Houston formerly leased to Walgreens. The store, which was built in 1999, is located at 11220 Louetta Road on the city’s northwest side. Amandeep Singh of Retail Solutions represented the seller. Saqib Ali of Texas Real Estate Group represented the buyer. Other terms of sale were not disclosed.

November 20, 2018

Healthcare Leasing Activity Texas

Next Level Urgent Care Opens 3,008 SF Clinic in Metro Houston

by Taylor Williams November 20, 2018

KATY, TEXAS — Next Level Urgent Care has opened a 3,008-square-foot clinic at Y Shops Katy Fort Bend, a shopping center on the western outskirts of Houston in Katy. Ryan Dierker and Tuan Nguyen of Newcor Commercial Real Estate represented Next Level Urgent Care in the lease negotiations. David Wise with Streetwise Advisors represented the landlord, Colonial Entrepreneurs LLC.

November 20, 2018

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