Category: News

URBN Dental announces location at CITYCENTRE in Houston

Posted on by Mia Goulart

On behalf of TriGate Capital, a Dallas-based leading real estate investment manager, Houston-based Midway, a privately owned, fully integrated real estate investment and development firm, is pleased to announce that URBN Dental is opening a new location at CITYCENTRE, Houston’s premier mixed-use destination to shop, dine, live, work, and stay.

The local cosmetic dental practice provides a wide variety of services for all ages, including routine cleaning, fillings, crowns and bridges, extractions, root canals, dentures, implants, and braces. Dedicated to providing the highest quality of care, URBN Dental’s office is equipped with the latest technology. URBN’s modern and artfully designed offices redefine the dental office experience to inspire relaxation and comfort. Patients enjoy complimentary Wi-Fi, beverages, TVs in their private treatment rooms, and warm aromatherapy towelettes.

URBN Dental is slated to open in February 2023 and will be located on Queensbury Lane next to Beverly Hills Rejuvenation Center CITYCENTRE. Spanning 1,993 square feet, URBN Dental is committed to providing people who visit, work, and live at CITYCENTRE with exceptional oral health care.

Laura Harness of Retail by Midway represented the Landlord, a Trigate Capital company, in this transaction.

Stream Realty Partners secures local buyer to occupy office building in Plano submarket

Posted on by Mia Goulart

Stream Realty Partners has secured a local buyer for a two-story Plano office building with a basement showroom on the market for only 31 days.

Peacock Point LLC recently completed the purchase of 5500 W. Plano Parkway from Hacienda Care V L.P., closing within 96 days of the property being listed. Stream, a national commercial real estate firm offering an integrated platform of services, represented the seller in the transaction. Stream Dallas Managing Director Jamie Jennings and Senior Vice President Ryan Evanich served as the brokers. Pam Goodwin of Goodwin Advisors LLC represented the buyer.

5500 W. Plano Parkway offers 30,066 square feet of rentable office space and a 7,640-square-foot basement showroom/storage area. The Class A property sits on more than 2.2 acres of well-landscaped land and features 124 covered and surface parking spaces. The building was vacant at the time of sale. Peacock Point plans to occupy the facility.

Offering easy access to Dallas Love Field and Dallas Fort Worth International airports, 5500 W. Plano Parkway is in the Upper Tollway submarket and just minutes from the President George Bush Turnpike and Dallas North Tollway. Multiple well-known regional medical facilities and global corporate headquarters are within easy reach.

National REIT acquires Austin-area self-storage facility

Posted on by Mia Goulart

JLL Capital Markets announced today that it has closed the sale of Oak Hill Self Storage, a 709-unit self-storage facility located along W. Hwy 71 in Austin, Texas.

JLL marketed the property on behalf of the seller, The Jenkins Organization, and procured the buyer, Extra Space Storage.

Completed in 2019, Oak Hill Self Storage is comprised of 93,813 rentable square feet and features true Class A construction and amenities. The facility is 97% climate controlled and is equipped with three covered loading zones, automated gate access, oversized elevators to access the upper floors, and a full suite of building features.

Oak Hill Self Storage is strategically located within an affluent area of Southwest Austin that benefits from high barriers to entry, limited competing supply and strong population growth. Positioned on 7.65 acres at 7901 W. Hwy 71, the property offers visibility to more than 23,000 vehicles per day and draws from a growing population of 48,500 residents within a three-mile radius boasting an average household income of more than $162,000.

The JLL Capital Markets Investment and Sales Advisory team representing the seller was led by Senior Managing Directors Brian Somoza and Steve Mellon and Directors Adam Roossien and Matthew Wheeler.

SVN | J. Beard Real Estate – Greater Houston Recently completed sale of a Class A, Office Building in Kingwood, TX

Posted on by Benton

SVN | J. Beard Real Estate – Greater Houston has recently completed the sale of a Class A, multi-tenant office building located at 1710 West Lake Houston Pkwy. in Kingwood, TX. The 25,669-square-foot building sits on 1.99 acres and is located within a growing residential and commercial market. The attractive, two-story building was originally designed and built in 2007 by Woodforest National Bank primarily for retail banking and operations as part of the mixed use King’s Harbor development. At the time of sale, the building included a mix of corporate tenants. Genesis Medical Group will occupy the majority space, expanding their highly-rated Primary Care, Medical Spa, and Urgent Care to provide better care closer to home.  

Jeff Beard, CCIM, of SVN | J. Beard Real Estate – Greater Houston represented the seller, Woodforest National Bank. Bonnie Pfrenger, also from SVN | J. Beard Real Estate – Greater Houston, represented the buyer, Fire King Holdings, LLC in the transaction. 

“It was a pleasure to work with a great long-term client in Woodforest and another team member of the SVN | J. Beard Real Estate – Greater Houston on this deal.  Representing both the buyer and the seller gave us a unique opportunity to showcase the ‘SVN Difference’ and be creative, ensuring both parties fully reached their objectives creating a win for all involved,” said Beard.

About SVN | J. Beard Real Estate – Greater Houston  

SVN | J. BeardReal Estate– Greater Houston is an independently owned and operated SVN® office located in The Woodlands, Texas. The SVN® brand is a globally recognized commercial real estate entity united by a shared vision of creating value for clients, colleagues, and communities. Currently, SVN comprises over 1,600 advisors and staff working in more than 200 offices across the globe. SVN’s brand pillars represent the transparency, innovation and inclusivity that enable all our advisors to collaborate effectively with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN Advisors create outsize value for all stakeholders. For more information, visit www.jbeardcompany.com.

Woodside Acquires Houston Energy Corridor Office Building

Posted on by Benton

Texas-based real estate fund manager Woodside has purchased 12012 Wickchester from CapRidge Partners.

The six-floor, 110,000-square-foot office building is in the heart of the Energy Corridor between the major thoroughfares of Kirkwood Road and Dairy Ashford Road. 12012 Wickchester offers direct access to the Katy Freeway, Highway 6, and Beltway 8 and is surrounded by a wide variety of restaurants and retail. Spring Branch Independent School District is nearby.

Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, has leased 12012 Wickchester for six years. Woodside will retain Stream Houston to lease the jewel-box building, with Vice President Matt Asvestas and Managing Director Ryan Barbles serving as the leasing agents.

“12012 Wickchester has benefited greatly from Houston’s westward population growth,” Asvestas said. “The building has been positioned as a high-quality value option in the Energy Corridor for years. Woodside is further embracing this by offering more competitive lease rates and substantial capital upgrades throughout the project.”

Woodside has adopted a comprehensive speculative suite to provide move-in ready space for office occupiers of all sizes. In addition to vacancy upgrades, Woodside plans to make extensive capital improvements to the building this year including HVAC updates, lobby renovations, elevator modernization, new project signage, and improvements to the parking garage and patio.

Availability at 12012 Wickchester ranges from 935 square feet to 15,000 square feet. For information, contact Stream Houston at 713.300.0300.

Stonelake Capital Partners Announces Plans for 2626 McKinney

Posted on by Benton

Development Slated for Completion in Q3 2025

Stonelake Capital Partners announced today plans for 2626 McKinney, a new development located in the heart of Dallas’ Uptown district adjacent to Whole Foods. The 180,000-square-foot Class A office building is slated for completion in Summer of 2025.

The 17-story tower will feature elegant exterior with interior finishes that complement upscale offerings, including a covered hospitality style valet area, landscaped walkways and plazas creating a tailored arrival along McKinney Avenue.

The amenity level, located on the 11th floor, will include a lounge with a coffee and cocktail bar, flexible conference and event space, a warming kitchen for events and a landscaped terrace offering unobstructed views of the Dallas skyline. The state-of-the-art fitness center will include cardio and strength training areas, spa-style men’s and women’s lockers, a flexible studio with an integrated smart trainer and a fitness-focused outdoor terrace.

“2626 McKinney will provide all of the amenities and finishes of a state-of-the-art, Class AA office building with a boutique, white glove feel that will make the tenant experience bespoke and unique,” said Coleman Brown, Partner at Stonelake Capital Partners. “At 2626 McKinney, a 50,000-square-foot tenant can feel like an anchor.”

The building features on-site property management, ceiling clear heights of 15’-0” on the amenity and penthouse floors, 13′-6” on typical office floors and a parking ratio of 2.9 per 1,000. Additionally, the penthouse suite offers a 2,300-square-foot private terrace.  

“Being next door to Whole Foods and walking distance to the Crescent and Ritz Carlton, 2626 McKinney will provide the full spectrum of offerings for tenants who want to be in the urban core of one of the most dynamic markets in the country – Dallas,” Brown said. 

2626 McKinney is located in the most pedestrian-friendly neighborhood in Dallas, offering an exciting blend of outdoor activity with unique dining, arts and entertainment scene nearby.

Matt Schendle and Zach Bean of Cushman & Wakefield will lead leasing efforts. 

About Stonelake Capital Partners

Stonelake is a real estate private equity firm that was founded in 2007 by Kenneth Aboussie and John Kiltz. Stonelake focuses solely on investing in major Sunbelt markets such as Austin, Dallas, Houston, Atlanta, Nashville, Phoenix, Tampa, Orlando, San Antonio and El Paso. Over the last 15 years, Stonelake has raised and invested nearly $2.5 billion of equity through seven (7) fully discretionary opportunistic funds and one open ended fund, acquiring or developing over $4.0 billion of commercial real estate. Stonelake owns, has acquired, has developed or is developing 28.0 million square feet of industrial warehouses, 8,100 Class-A multifamily units and 3.3 million square feet of Class-A office buildings.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.