May 27, 2014 | ISSUE 429
Texas Real Estate Business E-Newsletter
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Freeway Properties Breaks Ground

on 151,000 SF Office Building in Katy

Katy Ranch Offices Phase I, to be located near I-10 and Grand Parkway, will include floor plates of 24,800 square feet and optical fiber transmission cabling.

KATY, TEXAS -- Freeway Properties has broken ground on Katy Ranch Offices Phase I, a 151,000-square-foot office building in the Houston suburb of Katy. The six-story, Class A structure, which will be part of the Katy Ranch mixed-use complex, will feature 24,800-square-foot floor plates and optical fiber transmission cabling. Located in proximity to I-10 and the Grand Parkway, the project also includes a parking garage that will provide four parking spaces per each 1,000 square feet of the building. LSI is the general contractor, Powers Brown Architects is serving as architect, TAS Engineering Construction is working as the mechanical/electrical/ plumbing engineer, and Griff Jaggard and Kurt Kistler of Moody Rambin will handle property leasing. The facility is designed for LEED Gold certification and slated for completion in the first quarter of 2015.


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Mixed-Use Redevelopment of Former Church Opens in San Antonio

Uptown Square includes a 36,004-square-foot office building, as well as three retail pad sites. CBRE is marketing the property for lease.

SAN ANTONIO -- Uptown Square, a mixed-use redevelopment of a former church complex, has opened in San Antonio. Formerly Harvest Fellowship Community Church, the property includes a three-story, 36,004-square-foot office building and three retail pad sites. 1604 TC LP purchased the site in 2012 and redeveloped the asset with exterior building rock work; the addition of a pylon sign; landscaping, courtyard, parking and HVAC improvements; extension of the second floor; break room and common area amenities; and a detention pond that is currently under construction. Northrock Church purchased the adjacent 20,500-square-foot church building separately. Rialto Homes has leased 3,061 square feet of office space at Uptown Square, and gastropub The Hoppy Monk has leased one of the pad sites. The rest of the office building and the other two pad sites are available for lease. Scott Herbold, Carl Salvato and Lindsey Tucker of CBRE are marketing the property.


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M&M Brokers Sale of 50,406 SF Grapevine Office Property

Automotive Resources International fully occupies the property, which is located at 2550 S.W. Grapevine Parkway.

GRAPEVINE, TEXAS -- Marcus & Millichap has brokered the sale of a 50,406-square-foot office building in the Dallas/Fort Worth suburb of Grapevine. Automotive Resources International, a global fleet solutions provider specializing in complex car and truck fleets, fully occupies the facility, which is located at 2550 S.W. Grapevine Parkway. The one-story structure is located in proximity to State Highway 114, State Highway 121 and the Dallas/Fort Worth International Airport. Ron Hebert and Michael Lawrence of Marcus & Millichap marketed the asset on behalf of the seller, a partnership between Poynter Scifres and an affiliate of Realty Capital Partners. An outside broker represented the buyer, a California-based investor completing a 1031 tax-deferred exchange.


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Cassidy Turley Arranges 63,612 SF Industrial Lease in Arlington

Hickory Springs, a manufacturer of foam, metal, wire, fiber and other materials for a variety of industries, will occupy space at the warehouse located at 605 109th St.

ARLINGTON, TEXAS -- Cassidy Turley has arranged a 63,612-square-foot industrial lease in Arlington for Hickory Springs, a manufacturer of foam, metal, wire, fiber and other materials for the bedding, transportation, healthcare and packaging industries. The tenant will occupy space at 605 109th St., in proximity to the interchange of I-30 and State Highway 360. Frank McCafferty, Blake Anderson and David Eseke of Cassidy Turley represented Hickory Springs in the negotiations.


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Billingsley Co. Leases 50,068 SF

at Mercer Business Park

Paragon Distributing Co., a wholesale appliance distributor, will occupy space within Mercer Business Park's distribution center.

DALLAS -- Billingsley Co. has leased 50,068 square feet of industrial space at its Mercer Business Park in Dallas to Paragon Distributing Co., a wholesale distributor of indoor and outdoor appliances. The tenant will occupy space in the northwest corner of the park's 340,000-square-foot distribution center. Craig Phelps and Michael Haggar of JLL represented Paragon, which will occupy the space beginning in the first quarter of 2015. Billingsley Co. is developing the 225-acre Mercer Business Park at the northwest corner of I-635 and I-35.


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Bradford Arranges 34,132 SF

Lease Renewal and Expansion

Pronto Delivery, a third-party distribution and logistics company, renewed its 23,744-square-foot lease and also expanded by 10,388 square feet within the facility.

ARLINGTON, TEXAS -- Bradford Commercial has arranged an industrial lease renewal and expansion totaling 34,132 square feet in Arlington. Pronto Delivery, a third-party distribution and logistics company, renewed its lease of 23,744 square feet at the warehouse located at 1034 Ave. M and also expanded by 10,388 square feet within the facility. The property, totaling 69,748 square feet in the Great Southwest Industrial District, is now fully occupied. Brendan Smith led the Bradford Commercial team representing the tenant in the negotiations. The landlord, Proterra Properties Inc., was represented internally by Chris Bly and Dan Lawson.


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Kennedy Wilson Adds Seven
Professionals to San Antonio Office

Ernest Brown

Real estate investment and services firm Kennedy Wilson has added seven new professionals at its San Antonio office. Ernest Brown, a 30-year real estate veteran, will serve as co-managing director alongside Charles "Butch" West, who has served as managing director of brokerage and leasing in Austin since 2012.

Rick Stagers, George Harcourt, Barbara Crane, Cynthia Ellison, Clint Hennessey and Jorge Rodriguez have joined Kennedy Wilson as well. All seven new teams members were previously with Newmark Grubb Knight Frank, which closed its San Antonio office.

"This was the perfect opportunity to add a team of seasoned brokers, all of whom are well-respected in our industry," says Steve Pyhrr, senior managing director of Kennedy Wilson's Texas operations. "The additions build on our already solid footprint in this region to allow for further growth with an extremely solid senior team, and we are very excited about this direction."

Brown previously served as managing director for Newmark Knight Grubb Frank. Stagers, Harcourt, Crane, Ellison and Hennessey will serve as senior directors for Kennedy Wilson, and Rodriguez will serve as a senior associate specializing in investment transactions.

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BOKA Powell Welcomes Michael Arvin

Michael Arvin

Dallas-based architecture firm BOKA Powell has appointed Michael Arvin as its new healthcare market leader. Arvin will lead growth and development efforts for the firm's healthcare and strategic services practices.

Immediately prior to joining BOKA Powell, Arvin led his own strategic advisory firm, Alliance Strategic Health Advisors LLC. He also served as senior development executive for the Dallas-based Methodist Health System from 2007 to 2011. His experience in strategic planning, development, program management, facility master-planning and new facility development for healthcare organizations totals more than 25 years.

Nightingale Publications' Southwest Healthcare Transactions Conference named Arvin an "Executive to Watch in Healthcare Transactions" in both 2009 and 2011. He is a graduate of the University of Texas at Austin.

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Pop, Lock & Dropping Vacancy: Retailers Take Advantage of Pop-Ups
Pop, Lock & Dropping Vacancy: Retail owners taking advantage of pop-up concepts, vending machines
Click the above image to view the video.

LAS VEGAS -- Pop-up stores are moving away from seasonal ties to offer mall owners a consistent revenue stream. Pop-ups and vending machines are strengthening bottom lines for retailers nationwide. Tracey Hatley, director of specialty leasing for JLL, and Scott Ryan, vice president of Coca-Cola's strategic partner marketing, speak on these trends at ICSC RECon in Las Vegas.

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John McCurdy, Editor
Texas Real Estate Business
France Media, Inc.


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