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March 12, 2013 
Featured Properties | March 2013

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News

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Net Lease Assets in Demand, and Cap Rates Continue Falling
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Greenfield Buys Pair of Plano Offices
Investor Has Austonian Surrounded
Williams Tower Sold
Houston's Downtown Retail Task Force reveals results


  































  
Deals & Announcements

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NORTH TEXAS ANNOUNCEMENTS:

COMMERCIAL: Cedar Hill - A limited liability company has purchased the Storage King - Cedar Hill, a 60,360 SF self-storage facility located at 1090 South US-67 North in Cedar Hill, TX. Brandon Karr, an investment specialist in Marcus & Millichap's Ft. Worth office, had the exclusive listing to market the property on behalf of the seller. The buyer was also sourced by Brandon Karr.

INDUSTRIAL: Fort Worth - Bell Supply Company has leased 67,589 SF of industrial warehouse space from Bel Air Industrial, LLC. The building is located in Northpoint Trade Center which is located at 700 Eight Twenty Blvd. Matt Carthey and Donnie Rohde of Holt Lunsford Commercial represented the landlord and Robert Sawyer and Andrew Miller of Mages Real Estate represented the tenant.

 

 


INDUSTRIAL: Carrollton - Favorite Brands has leased 50,000 SF of industrial space at 13755 Diplomat. J. Scott Moore of Holt Lunsford Commercial represented the landlord, ML Realty. Ryan Boozer of Mercer Company represented the tenant in the transaction.

 

 

SPECIAL PURPOSE: White Settlement - Fred James Bane, Jr. has purchased the Horizons of Hope Church located at 8200 Tumbleweed, White Settlement, TX. Gene J. Livens, Church Consultant & Associate Broker with Service Realty, Inc. represented the seller, Horizons of Hope, in the transaction. Jay Searcy of Coldwell Banker Commercial represented the buyer.

SPECIAL PURPOSE: Irving - South MacArthur Church of Christ Inc. has acquired a 73,076 SF building on 12.1 acres at 1700 E. Airport Freeway, Irving, TX. Joe Santaularia, market director of Bradford Commercial Real Estate Services, represented the buyer in the transaction. Bob Ginsburg of CBRE represented the seller, the Susan P. Schneider Trust.

SOUTHEAST TEXAS ANNOUNCEMENTS:

ANNOUNCEMENT: Houston - Ed Benton has joined Cresa Houston, North America's largest tenant representation firm, as a Senior Advisor specializing in office tenant representation. Mr. Benton brings seven years of investment sales experience, during which he advised clients in the acquisition and disposition of multi-tenant investment properties in Texas and single tenant properties nationwide, primarily structuring sale-leaseback transactions. Mr. Benton's experience also includes lease negotiation, underwriting, financial statement analysis, real estate capital markets, and market positioning and pricing analysis for a variety of commercial real estate property types. Heather Riggs joined Cresa as a Senior Administrative Assistant and focuses on brokerage support. Ms. Riggs has ten years of experience in the commercial real estate industry including broker support, research, and marketing.

HOSPITALITY: The Woodlands - An out of state hotel investor has purchased the Fairfield Inn & Suites by Marriott, an 85 room hotel located at 24485 Interstate 45, in The Woodlands, TX. Michael Yu, Rahul Bijlani and Eric Guerrero of the National Hospitality Group in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a Houston based hotel developer. The buyer's representative was not disclosed.

INDUSTRIAL: Houston - Axon Pressure Products has purchased a spec 30,211 SF warehouse building at 12616 North Houston Rosslyn. The seller, Capital Commercial Development, was represented by John Ferruzzo, SIOR and Michael Keegan of NAI Houston.  Jim Stark of CBRE represented the purchaser in the transaction.

 


MULTIFAMILY: Dickinson - A California based buyer has purchased the Northern Pines Apartments, a 57 unit apartment complex in Dickinson, Texas. Julia McManus, Partner at Southern Realty Advisors, negotiated the quick sale between the Houston based seller and California based buyer. The below market rents and occupancy made it an attractive investment with substantive up-side potential.

 

 

OFFICE: The Woodlands - Alta Mesa Holdings has purchased a build to suit office project totaling 14,250 SF to be located at 1070 Evergreen Circle, The Woodlands TX. Greg Usher of Cypressbrook Company represented the buyer in the transaction and Ross Foldetta of Woodlands Commercial represented the landlord, Evergreen Office 2012, LLC.

OFFICE: Houston - Katy Freeway 5400, Ltd. has purchased the T&S Office Building, Res A, Harris County, 5400 & 5414 Katy Freeway. Darin Gosda & Ray Hildebrand - BETZ Commercial Brokerage, Inc. represented the seller, Positivus, LP, in the transaction. Drew Morris of Studley, Inc. represented the buyer.

RETAIL: Houston - Gordon Partners has purchased Northwest Village Shopping Center located at the corner of Hwy. 290 & Jones Rd.. The 190,000 SF shopping center is 87% occupied and has 35 tenants. The firm plans to remodel the center later this year and create additional junior anchor space opportunities. Kevin Holland with CBRE represented the seller, Baceline Value Fund I., and the buyer was self-represented.

CENTRAL/SOUTH TEXAS ANNOUNCEMENTS:

ANNOUNCEMENT: Austin - HFF announced today that Jeremy Womack has joined the firm as a director in its Austin office to focus on debt placement and equity transactions. Mr. Womack has nine years of experience in commercial real estate finance and most recently served as an associate with Trinity Real Estate Finance.  He founded the Austin office of Trinity in 2006, after working in its San Antonio branch since 2004 as a senior financial analyst.  Prior to that, Mr. Womack worked for Ernst & Young.  He holds a bachelor's degree from Rutgers University and is on the Management Committee for the Austin Chapter of ULI (Urban Land Institute).

 

 

ANNOUNCEMENT: Austin - The Austin office of CBRE announces that Frank Hartmann has joined as an office tenant representative. Frank joins CBRE with more than 12 years of commercial real estate experience. Most recently, he was a senior advisor with Cresa in Austin. Prior to moving to Austin, Frank worked in Chicago as a tenant representative at Studley, Insignia/ESG and Cresa Chicago. He started in commercial real estate as the communications director for the Building Owners and Managers Association (BOMA) of Chicago. In his role at CBRE in Austin, he will continue to lead real estate transactions on behalf of public and private companies.

 

 

HOSPITALITY: Victoria - A West Coast based hotel investor has purchased the Candlewood Suites Victoria, an 82 room hotel located at 7103 Navarro Street, in Victoria, TX. The asset is located in the booming Eagle Ford Shale area in south Texas, the largest oil/gas find in the history of Texas. Michael Yu, Rahul Bijlani and Eric Guerrero of the National Hospitality Group in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a southeast Texas based hotel developer.

 

 

INDUSTRIAL: Austin - California-based PS Business Parks has purchased three industrial/multi-tenant flex buildings - McKalla 2 and McNeil 8 & 9. The three properties are located at 2500 McHale Court (McKalla 2) and 12301-12303 Technology Boulevard (McNeil 8 & 9), and are adjacent to parks currently owned by PS Business Parks. McKalla 2 is located in the North Submarket, while McNeil 8 & 9 are in the Northwest Submarket. Mark Emerick, John Barksdale and Steven Kalil with CBRE Group, Inc. represented the seller, Investors Warranty of America, Inc., in the transaction. The buyer's representative was not disclosed.

 

 

OFFICE: Austin - Adometry Inc. has leased 18,892 SF of office space located at 6801 Capital Of Texas Highway. Troy Holme and Katie Ekstrom with CBRE Austin reprsented the landlord Maplewood Associates LP in the transaction. Doug Jones of HPI represented the tenant.

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