Author: Sarah

Colliers Sells ±4.18 Acres Along Beltway 8 in South Houston

Posted on by Sarah

Houston, June 22, 2022 – Colliers is pleased to announce the sale of ±4.18 acres located between Beltway 8 and Fellows Road in Houston, Texas. The buyer, Fellow Houston Investment, LP, was represented by Travis Land, AJ Williams and Alisha Renshaw of NAI Partners. Tom Condon, Jr. of Colliers represented the seller, David Christian, in the transaction.

The subject property is situated along Beltway 8 and Fellows Road just west of SH 288. The unrestricted property is outside the city limits of Houston and Pearland. On behalf of Fellow Houston Investment, Adkisson Group Development plans to construct a ±61,700 square foot rear-load distribution building with an estimated completion date of March 2023.

The property is located in Houston’s South Hwy 35 industrial submarket. The submarket contains 43.7 million square feet of industrial space which is currently 97.2 percent occupied. The average asking market rental rate is $7.76 per square foot and there is 91,500 square feet of industrial space currently under construction in the submarket.

For further information please contact:
Tom Condon, Jr. | Principal, The Woodlands
+1 713 830 4007 | tom.condon.jr@colliers.com

Pei Wei Moves U.S. Headquarters to Hartman Office Building

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(Irving, TX)— Pei Wei Asian Diner, LLC (Pei Wei) has signed a long-term, 10,693 square foot lease at 1707 Marketplace Drive in Irving, TX. The Asian-inspired restaurant will occupy its new space on the third floor of the property. Westway One is a class-B office building owned and operated by Hartman Income REIT Management, Inc., a Texas-based commercial real estate owner and operator with $809m in assets under management.

Pei Wei’s new 10,693 square foot office space will feature standard offices and a flex/open space for hotdesking, hoteling, or cubicles. Included in the new space will be a private kitchen and breakroom with access to the property’s amenities.

Hartman’s Westway One office building is conveniently located just five minutes from the DFW international airport. The property is also highly desired as it features convenient access to MacArthur Marketplace retail shopping center, garage parking, 24-hour video surveillance, on-site security, on-site professional management, after-hours controlled access, and UPS and FedEx drop boxes.

Welcoming Pei Wei to the building, Hartman’s President and CEO, Al Hartman, shared, “We are delighted to welcome Pei Wei as our newest tenant at Westway One. With over 100 restaurants here and internationally, it is our honor to have their U.S. Corporate headquarters located in a Hartman building. We wish them continued success!”

Harrison Burt with JLL Dallas represented Pei Wei in lease negotiations with Hartman, and Allison Fannin represented Hartman, the landlord.

To learn more about leasing commercial real estate in San Antonio, Houston, or DFW (Dallas Fort Worth), please contact a Hartman leasing agent at 800.880.2212 or visit www.hi-reit.com.

Plano Medical Office Building Attracts new Physician Groups with Planned Renovations

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Transwestern Real Estate Services (TRS) announces US REO Fund, a Plano-based real estate investment firm, has selected Transwestern to provide leasing support for 7000 W. Plano Parkway, an 80,000-square-foot, two-story medical office building in Plano.

Formerly known as Plano Pediatric Medical Pavilion, the property will undergo landscape, lobby and common area renovations and rebrand as Prestonwood Medical Center targeting multiple medical specialties in addition to pediatrics. The building features an operational surgical center as well as gastroenterology practices on the first floor.

In addition to general pediatric specialties, the building formerly housed a sports medicine and orthopedic practice and a sleep apnea practice. Spaces ranging from 1,700 to 9,700 square feet are available across the entire second floor.

Built in 2005, Prestonwood Medical Center includes 6 per 1,000 parking and is directly across the street from Prestonwood Baptist Church and Hebron High School. With proximity to The Shops at Legacy, The Clubs of Prestonwood and large system medical campuses, the building offers physicians and patients nearby amenities that support daily operations.

According to Transwestern research, the Dallas-Fort Worth medical office market finished 2021 with positive momentum. Healthcare users continue to absorb space, bringing vacancy rates down to their lowest levels since 2018. As a result, rent growth has accelerated as tenants compete for a shrinking pool of available space. Triple net rents are up 4.1% from last year, nearly double the average growth rate.

Amerivet Signs Full-Floor Expansion at Hartman’s Energy Plaza Office Building in San Antonio, TX

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(San Antonio, TX)— Amerivet, a rapidly growing operational resource for established Veterinarians has signed a full-floor lease expansion at Hartman Income REIT’s (Hartman) Energy Plaza office building at the Loop 410 Highway/281 interchange in San Antonio. The expansion adds an additional 13,000 square feet to Amerivet’s headquarters and expands the company’s office space footprint to two full floors.

“The growth that Amerivet has experienced in the recent months has been tremendous to witness. We are so proud to have them as tenants in our building. They recognize the importance of having their team fully back to the office and are benefiting from in-person collaboration, mentoring, and increased productivity” said Kacie Skeen, VP of Leasing for Hartman.

Amerivet’s expansion will commence on January 1st, 2024 and will include an installation of the company’s logo as brand signage on the exterior of the San Antonio office building.

Built in 1980, Energy Plaza was acquired by Hartman in 2014 year. The two building seven story property totals over 180,000 square feet on approximately four acres. The buildings’ amenities include on-site management, garage parking, an on-site building engineer, multiple conference rooms, and controlled building access.

In lease negotiations, Kacie Skeen, VP of Leasing, represented Hartman.

To learn more about leasing commercial real estate in San Antonio, Houston, or DFW (Dallas Fort Worth), please contact a Hartman leasing agent at 800.880.2212 or visit www.hi-reit.com.

Leader in Steel Processing Industry Expands to Fort Worth

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Andes Coil Processors, a leader in the steel processing and slitting industry, announced its expansion to Sylvania Industrial Park in Fort Worth. Sylvania Industrial Park, formerly the site of the American Manufacturing of Texas plant, was once a major manufacturing hub with thousands of workers producing billets and oil pump jacks. The manufacturing facility brings 30 to 50 new jobs and a $5 million capital investment to Fort Worth.

The company worked closely with CanTex Capital in the site selection process.

“Andes Coil Processors has experienced significant growth in the past 12 years in Lewisville, Dallas and Grand Prairie, and Fort Worth now adds significantly to that continued growth. Fort Worth offered the ease of access, a strong workforce, and quality of life we wanted for our team members. We can’t wait to get to work. We couldn’t be happier with our partnership with CanTex in the Sylvania Industrial complex, and with Fort Worth & Western Railroad,” said Andes Coil Processors President Howard Pena.

“Because of local partners like the Fort Worth Chamber and the Fort Worth and Western Railroad, we’ve been able to bring Andes Coil to Fort Worth.” said CanTex Capital COO Sam Cheema. “Rail-served properties are becoming harder and harder to come by, and FWWR worked diligently to make this deal happen. In addition to Andes, our team is very excited with all of the improvements at Sylvania Industrial Park. The manufacturing demand has been incredible and we’re seeing a lot of companies relocating to Fort Worth.”

Marcus & Millichap Arranges Sale of 16,964-Square-foot Office Building in San Antonio

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Marcus & Millichap announced the sale of the Dugas Professional Building, a 16,964-square-foot office property located in San Antonio, Texas, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The asset sold for $5,558,000.

First Vice Presidents Brett Rodgers and Frank M. Roti and Associate Alex Sacks, and investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of Stage Equity Partners, LLC, the seller, a private investor based in Chicago. Texas Broker of Record Tim Speck assisted in closing this transaction.

The Dugas Professional Building is located at 9410 Dugas Drive in San Antonio, Texas. The building was built in 2008 and was 100 percent occupied at the time of the sale by four medical tenants that serve the San Antonio area. There was extensive competition from a local and national pool of buyers.