Category: North Texas

RESOLUT RE Inks 20 Sale and Lease Deals Around Texas

Posted on by Sarah

RESOLUT RE recently completed 20 retail transactions throughout Texas. The deals included sales and leases in the Austin, Dallas, Houston and San Antonio markets. Clinica Hispana Rundberg has leased 1,346 square feet at Rundberg Square (825 E. Runberg Lane, Austin). Joey Mendez of RESOLUT RE represented the landlord. Discover PCR has leased 2,579 square feet at Market at Lake Creek (13776 US Hwy 183, Austin). Andrew Perkel and Michael Noteboom of RESOLUT RE represented the landlord. Donut/Taco has renewed at Cathollow Center (16420 RR 620 N, Round Rock, Texas). Michael Noteboom of RESOLUT RE represented the landlord. Enjoy Nails and Spa has leased 1,800 square feet at Shops at Domain (3310 W Braker Lane, Austin). Joey Mendez of RESOLUT RE represented the tenant. Dan Lewis of TIG Real Estate Services represented the landlord. Farmers Insurance has leased 689 square feet at Main Street at Twelfth (809 12th St, Marble Falls, Texas). Michael Noteboom and Jacob Nagy of RESOLUT RE represented the landlord. An undisclosed buyer has purchased the 42,134 square feet Town North Shopping Center at 8557 Research Boulevard in Austin. Andrew Perkel of RESOLUT RE represented the seller. Lynn Yuan of Real International Realty represented the buyer. Lewisville Boxing Team Center has leased 1,680 square feet at South Mill Plaza (782 South Mill Street, Lewisville, Texas). Stephanie Jacobs, Mai Nguyen and Jeff Lewin of RESOLUT RE represented the landlord. CBD Pros has leased 1,300 square feet at Concourse Crossing (1300 Airway Boulevard, El Paso). Chris Duncan and Jeff Lewin of RESOLUT RE represented the tenant. Jellos Liquor has leased 971 square feet at Market at Bees Creek (4225 Sienna Parkway, Missouri City, Texas). Rick Gutierrez and Marcus Banasik of RESOLUT RE represented the landlord. Katy Pure Water has leased 1,000 square feet at Brenwood Plaza (18859 W Little York Road, Katy, Texas). Rick Gutierrez and Davis Amanyisye of RESOLUT RE represented the landlord. La Casona Mexican Restaurant & Cantina has renewed at Wharton Retail Shopping Center (10314 US-59, Wharton, Texas). Taki Dallis of RESOLUT RE represented the landlord. Authorized Inspections has renewed at Three Weiman Center (14531 FM 529, Houston). Dani Allison of RESOLUT RE represented the landlord. Tony Allen of Pollan Hausman Real Estate Services represented the tenant. Cheveux by Esor has leased 963 square feet at Westwood Village Shopping Center (9615 Southwest Fwy, Houston). Eric Broussard and Benny Nguyen of RESOLUT RE represented the landlord. Lefty’s Cheesesteaks has leased 1,777 square feet at Federal Shopping Center (1000 Federal Road, Houston). Joaquin Orozco and Eric Broussard of RESOLUT RE represented the tenant. Michael Moulton of Weingarten Realty represented the landlord. Smoke World has leased 1,080 square feet at Four Corners Shopping Center (12807 Westheimer Road, Houston). Davis Amanyisye of RESOLUT RE represented the tenant. Aphrodite’s Closet has leased 1,500 square feet at Judson Business Center (13777 Judson Road, San Antonio). Carolyn Bustamante and Aisha Chapa of RESOLUT RE represented the landlord. Royal Liquor has leased 1,512 square feet at Grandview Shopping Center (8005 Callaghan Road, San Antonio). Carolyn Bustamante and Aisha Chapa of RESOLUT RE represented the landlord. An undisclosed buyer has purchased the 3,309 square feet Bus 83 freestanding building at 1514 US-83 BUS in Mission, Texas. Larry Leahy and Patricia Rodriquez of RESOLUT RE represented the seller. Omar Alanis of La Paloma Realty represented the buyer. An undisclosed buyer has purchased the 2,965 square feet building at 206 E Expressway 83 in La Joya, Texas. Larry Leahy of RESOLUT RE represented the seller. Juan Pena of Coldwell Banker represented the buyer. An undisclosed buyer has purchased 3.52 acres at the LOVE’S pad site in Lubbock (901 County Road 6200, Lubbock, Texas). Wes Tune and Mohamed Gamal of RESOLUT RE represented the seller.

Transwestern Appoints Doug Prickett Head of Investment Analytics and Research

Posted on by Sarah

Transwestern announced that Doug Prickett, CRE, has been named senior managing director of investments and analytics. Based in Dallas, Prickett brings more than three decades of industry experience to the company. In this role, Prickett will lead research efforts for the Transwestern organization, developing advanced analytics and using cutting-edge technologies to guide and support real estate investment strategy, market and asset selection, underwriting, portfolio management and workplace solutions for Transwestern and its clients. Prickett’s oversight encompasses all three companies—Transwestern Investment Group, Transwestern Real Estate Services and Transwestern Development Company—as each business further enhances its strategic use of proprietary data and sophisticated analysis to address real estate challenges and pursue opportunities that deliver value to investors, owners and users of commercial real estate. “Our organization’s broad platform positions us to anticipate market conditions and target investment activities by combining local expertise, proprietary data and advanced research tools to evaluate—at a granular level—dozens of important market characteristics, including demographics, supply and demand, transactions and volatility,” said Charles Hazen, president of Transwestern Investment Group. “Doug’s deep market knowledge and proven success at applying data analytics to the investment process make him an exceptional fit for this role, and he will be an immediate asset to all of the Transwestern’s clients.” Prickett comes to Transwestern following senior roles at Lionstone Investments, REIX Corp. and Archon Group/Goldman Sachs. His breadth of expertise working with institutional and non-institutional clients spans investment strategy, capital sourcing, brokerage, site selection, underwriting and feasibility analysis. He is also the co-founder of Strongside Financial Group, a diversified platform aligning capital with Qualified Opportunity Zone businesses and property for tax-advantaged investing. Prickett’s active involvement in economic and industry organizations at both the national and local level, including the Urban Land Institute’s Research Forum and the Dallas Association for Business Economics, complements his career. He has earned designations from the Counselors of Real Estate, the CCIM Institute and the Appraisal Institute, and has been named a Homer Hoyt Fellow. He will serve on Transwestern’s Executive Committee and Board of Directors. “The wide array information and analytical tools available today makes it imperative that we are looking at the right variables, through the right lens, when interpreting data for team members and clients,” said Prickett. “Transwestern’s historical knowledge over many economic cycles, as well as the strength of its national research team and collaborative culture, give the organization a distinct advantage when advising clients—whether they are landlords and tenants exploring space utilization, or real estate investors looking to acquire assets in the most durable markets.”

Bradford Commercial Real Estate Services Inks Two Deals at Dallas Office Property

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Bradford Commercial Real Estate Services/CORFAC International facilitated two office leases at Merit Tower, 12222 Merit Drive in Dallas. Jared Laake, vice president of Bradford Commercial Real Estate Services, represented the landlord, LLL Four Forest LLC, in both transactions. DII Asbestos Trust, represented by Brenda Ridnour of Pickens Ridnour LP, leased 8,521 square feet of space. Separately, Gary Krajecki of PalmerHouse Properties represented TRUE Space Inc. in their 1,120-square-foot lease.

Younger Partners Brokers 68-Acre Sale Outside of Dallas

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SVM Estates acquired 67 acres on the west side of Highway 377, north of Shawnee Drive in Tioga, Texas, about 60 miles north of Dallas. Terms of the deal were not disclosed. Younger Partners’ Ben McCutchin represented the seller, Gene McCutchin, in the sale. The land, which is adjacent to the new Tioga High School and currently serves as grazing pasture, will be held for future investment.

Have You Returned to the Office? Occupancy Rates are on the Rise, with Dallas Leading the Way

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Office occupancy is creeping up across the U.S., with one Texas city leading an index of large metros where workers are returning to their buildings. Office buildings in Dallas had a 36.4 percent occupancy rate for the week ending Aug. 26 — the highest figure on the list and more than three times that of New York City, which was the least open city at just under 12 percent, according to a report from Kastle Systems. Houston’s occupancy rate was 23 percent during the same time period, down 6 percent from the previous week. The drop was likely the result of companies sending workers home in advance of Hurricane Laura. Dreary downtown: How COVID-19 turned downtown Houston into a ghost town Six months into the pandemic, the 10-city average was 23 percent. Falls Church, Va.-based Kastle Systems, which supplies security systems and services to the commercial real estate industry, has been collecting access data from the 3,600 buildings and 41,000 businesses it secures across 47 states to determine weekly office occupancy counts. The company’s figures are based on daily unique authorized user entries in each of its markets relative to their pre-COVID baselines. Click to read more at www.houstonchronicle.com.

Distressed Debt: When Will Opportunity Emerge?

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Being in the business of distressed debt for the past 12 years has taught me a lot about investor appetite in this space, but most importantly, and as with most things, timing is everything. Traditionally, real estate investors and developers never want to have the music stop in the middle of development, days after a recent purchase, or at a time when they are struggling with an investment. However, recessions usually don’t come with warnings for the average owner. This cycle is very different than what we have experienced in the past, and in my opinion, is worse. If you think about it, when the Great Recession hit, as soon as the dust settled over Wall Street, there was nowhere to go but up. With the pandemic, the recovery doesn’t begin until the pandemic ends. So what does that mean for those who have funds waiting on the sidelines and want to be the first in line for distressed debt?

It’s not here yet. Yes, assets are hurting, but if the true recovery hasn’t begun, the impact to value is still unknown. This is one of the most important considerations to those making decisions on buying and selling distressed debt/properties. In my opinion, until the end is in sight for the pandemic, it will be difficult for any investor to underwrite effectively. Next year will provide the best opportunity for purchases of distressed assets. Click to read more at www.dmagazine.com.