May 20, 2014 | ISSUE 427
Texas Real Estate Business E-Newsletter
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Port Logistics Realty to Develop
531-Acre Business Park in Dallas 
Southport Logistics Park is designed to accommodate up to 9 million square feet of warehouse space. The first phase, set to break ground next quarter, will total 1.5 million square feet.

DALLAS -- Port Logistics Realty will develop Southport Logistics Park, a 531-acre distribution center complex in south Dallas designed to accommodate up to 9 million square feet of warehouse facilities. The first phase of construction, which will include two buildings totaling 1.5 million square feet, as well as infrastructure for the entire park, will begin in the third quarter. The project is located near the intersection of Fulghum Road and I-45, in proximity to the Union Pacific Intermodal Terminal. Kacy Jones, John Hendricks and Wilson Brown of CBRE will handle leasing at the property.

 

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Riverside Resources Breaks Ground
on 215,000 SF Austin Office Building
The Capital Ridge project is located near the intersection of Loop 360 and Bee Cave Road.

AUSTIN, TEXAS -- Developer Riverside Resources has broken ground on Capital Ridge, a 215,000-square-foot office building in Austin. Located near the intersection of Loop 360 and Bee Cave Road, the project shares a campus with the 194-room Hotel Granduca Austin and is in proximity to the Barton Creek, Westlake Hills and Lake Travis neighborhoods. The seven-story, Class A property will feature a three-story lobby and is designed for LEED certification. HFF arranged construction financing for the development.

 

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CBRE Brokers Sale of 300-Unit Apartment Property in San Antonio

Built in 2012, The Landings at Brooks City-Base offers one- and two-bedroom apartments, as well as a swimming pool, fitness center and gaming area.

SAN ANTONIO -- CBRE has brokered the sale of The Landings at Brooks City-Base, a 300-unit multifamily complex in San Antonio. Constructed in 2012, the Class A property includes one- and two-bedroom apartments, as well as a swimming pool, fitness center, lounge and gaming area. The community, which is located at 7803 New Braunfels Ave. in the Southeast San Antonio submarket, was 97 percent occupied at the time of the sale. Ryan Epstein, Michael Wardlaw and Charles Cirar of CBRE represented the seller, Pensam Capital LLC, in the transaction. Brooks Apartments Associates Ltd. purchased the asset.

 

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Structure Commercial Brokers

154,000 SF Retail Property Sale

Carrollton Town Center, which is currently undergoing redevelopment, will be anchored by Asian grocer 99 Ranch Market.

CARROLLTON, TEXAS -- Structure Commercial has brokered the sale of Carrollton Town Center, a 154,000-square-foot shopping center in the Dallas/Fort Worth suburb of Carrollton. Located on the corner of President George Bush Turnpike and Old Denton Road, the property is undergoing redevelopment, including the incorporation of common areas, and will be anchored by a new 50,000-square-foot location of Asian supermarket 99 Ranch Market. Eric Deuillet of Structure Commercial represented both the seller, Trinity/Denton II Ltd., and the buyer, New Quest Properties.

 

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Hicks Ventures Acquires 76,054 SF Office Property in Houston 
Hicks Ventures plans more than $1 million in renovations for the two-story 16900 Park Row. Current tenant Wood Group Mustang Inc. is scheduled to vacate the property next quarter.

HOUSTON -- Hicks Ventures has acquired 16900 Park Row, a 76,054-square-foot office building in Houston. Constructed in 1980, the two-story structure was fully occupied at the time of the sale by Wood Group Mustang Inc., a provider of engineering, project management and construction services for the oil and gas, energy and manufacturing industries. Hicks Ventures plans to undertake more than $1 million in renovations to the property, including improvements to exteriors, interiors, restrooms, elevators and common areas. Wood Group Mustang will be vacating the building in the third quarter. Trent Agnew of HFF represented the seller in the transaction, West Coast-based Romel Mustang LP.

 

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M&M Brokers Sale of 55,521 SF Business Park in Houston

The three-building Arbor Square was 91 percent leased at the time of the sale to a mix of medical, retail and professional tenants.

HOUSTON -- Marcus & Millichap has brokered the sale of Arbor Square, a three-building, 55,521-square-foot business park in Houston. Located on a 3.6-acre parcel at 17000 El Camino Real, the complex is in proximity to an H-E-B grocery store. The property was 91 percent leased at the time of the sale to a mix of medical, retail and professional tenants. Justin Miller of Marcus & Millichap marketed the asset on behalf of the seller, a locally based partnership. Derek Hargrove, also of Marcus & Millichap, secured the buyer, a private investor completing a 1031 tax-deferred exchange.

 

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JLL: Global Retail Market Presents Opportunities for Ambitious Retailers

Beyond Your Backyard, The Global Retail Landscapes Opportunities
Click on the image above to watch the video.

 

LAS VEGAS -- The way retailers use real estate around the globe is fundamentally changing in response to shifts in consumer preferences, spending patterns and robust growth in e-commerce. International retailers are focused on acquiring high-quality retail space in markets with healthy fundamentals. London, New York, Miami, Houston, San Francisco, Hong Kong and Shanghai continue to attract top retailers and are outperforming their regional peers. Yet, these markets aren't the only pockets of opportunity, according to global retail experts at JLL. The international retail market is taking center stage at this year's ICSC RECon show in Las Vegas, which has drawn more than 33,000 retail and shopping center professionals, as well as 1,000 exhibitors. 

 

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RECon Takeaway: Retail Inextricably Linked to Technology, Social Media

Macy's may be "the world's largest store," but it also has
superb social media presence, according to ICSC panelists. Above is its most famous bricks-and-mortar outpost, located in New York.

LAS VEGAS -- Some of the nation's largest shopping center owners and managers took a break early this week from discussing the physical attributes of their properties to focus on their technological infrastructure during RECon 2014 at the Las Vegas Convention Center.

  

While the shopping center is still the priority, much of the conference's talk so far has focused on the properties' unseen attributes -- its Wifi capabilities, omni-channel presence, appreciation for social media, data analysis, sophisticated information technology systems -- in the quest to get more shoppers in the store and ring up more sales.

  

"It takes a huge shift in thinking to say that we as a property, or we as an owner, value technology enough that we're going to make an investment because we believe that investment is going to keep bringing customers to our shopping centers," said Corbett Guest, CEO of Dallas-based Imaginuity, a digital marketing agency that works with business-to-business and business-to-consumer companies.   

  

"If you just throw a bunch of money at different things and hope they stick, you're going to spend a whole bunch of money," said Guest.

  

Click here to read the rest of Nellie Day's story.  

 

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John McCurdy, Editor
Texas Real Estate Business
France Media, Inc.
404-832-8262
404-832-8260

jmccurdy@francemediainc.com

www.REBusinessOnline.com

 



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