Saratoga Corporate Management Group, LLC leased 2,971 square feet at 16420 Park Ten Place in Houston, TX. Nolan Nix with Home Run Realty, Inc. represented the tenant and Ami Figg represented the landlord, Hartman Income REIT.
JLL Capital Markets has closed the sale of Shadow Creek Ranch, a 613,468-square-foot, H-E-B-anchored power center within the master-planned Shadow Ranch community in the Houston suburb of Pearland, Texas.
JLL marketed the property on behalf of the seller, EDENS. Fidelis Realty Partners LLC acquired the asset. Additionally, the new owner has engaged JLL to source post-acquisition financing.
Completed between 2007 and 2008, Shadow Creek Ranch is anchored by H-E-B, ranked the No. 2 grocer in America for 2021 by the dunnhumby Retailer Preference Index. The 97.7-percent-leased property is also home to a diverse lineup of national and local tenants, including Academy, Ashley HomeStore, Burlington, Dynamic Fitness, Hobby Lobby, Subway, Club Pilates, Men’s Wearhouse, Pure Barre and Salata.
The sale includes 11 free-standing pad sites leased to popular tenants such as Taco Cabana, Frost Bank and Longhorn Steakhouse.
Shadow Creek Ranch is at 2805 Business Center Dr. in Pearland, a growing southern Houston suburb known for a recent influx of major corporate relocations. The retail center is within the 3,500-acre premier Shadow Creek Ranch master-planned, mixed-use, live-work-play development that features greenbelts, lakes and the majority of Pearland’s principal employers and retail space.
The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Ryan West and Chris Gerard, Senior Managing Director and Co-Head of U.S. Retail Capital Markets Barry Brown, Senior Director Wendy Vandeventer and Analyst and Katherine Miller.
“The sale of Shadow Creek Ranch reflects the state of the retail capital markets in Texas,” West said. “We had a deep pool of buyers pursuing a large-scale retail asset that was anchored by a high-octane H-E-B and big box retailers that emerged from a pandemic stronger than before.”
The JLL Capital Markets Debt Advisory team arranging the post-acquisition financing for Fidelis Realty Partners LLC includes Senior Managing Director Colby Mueck, Senior Director James Brolan and Analyst Stuart Hepler.
Summit HQ Inc. leased 8,146 square feet at 651 N. Plano Road in Plano, TX. Reg Badillo with Chisholm represented the tenant and Lynna Smith represented the landlord, Hartman Income REIT.
Newmark announces the sale of One Preston Centre, a 76,741-square-foot office tower in Dallas’ coveted Preston Center. Newmark Vice Chairmen Chris Murphy, Robert Hill and Gary Carr and Director Chase Tagen represented the seller.
Located at 8222 Douglas Avenue, One Preston Centre is within a 10-minute walk of some of Dallas’ most exclusive shops and restaurants. The office building is 88% leased to a base of long-tenured tenants that includes a significant healthcare presence.
“Given the limited amount of investment opportunities in this high barrier-to-entry submarket, we saw tremendous investor appetite from local and institutional capital alike,” said Murphy. “Preston Center will continue to be the investor and tenant submarket of choice given a confluence of factors, namely its position among the city’s most influential residential neighborhoods and ease of access offered by its proximity to the Tollway.”
The buyer is a newly formed partnership that includes an affiliate of local investor Pillar Commercial. Houston-based Community Bank of Texas is providing senior debt financing on the acquisition.
Preston Center is a pedestrian-friendly district featuring a premier collection of boutiques and restaurants. The adjacent affluent residential neighborhoods boast the strongest demographics and the most significant concentration of wealth across North Texas.
Easily accessible via the Dallas North Tollway and Northwest Highway, the property is within 10 minutes of Dallas Love Field and 20 minutes of Dallas/Fort Worth International Airport.
AIM Association Insurance Management, Inc. leased 4,700 square feet at 12221 Merit Drive in Dallas, TX. Matthew Perry-Miller with Laughlin Commercial Realty Group represented the tenant and Yvette Rodriguez represented the landlord, Hartman Income REIT.
“On our 10th ANNIVERSARY, I am happy to see our firm not just survive but thrive during tumultuous and unprecedented times as we help others to recover. We look forward to continued growth and expansion in each location, including our team and office in Puerto Rico. I am thankful for the addition of new partners and women to the team at PVMA and PVMA GLOBAL. Our commitment to supporting global recovery efforts through professional and humanitarian services remains our highest priority. I see many exciting years on the horizon for Women-Owned Small Businesses.” Laurie A. Robinson
“Over the past year, we have seen America’s small businesses overcome incredible challenges—a devastating pandemic, climate disasters, and other disruptions that have impacted how we live and do business. And every time, against the odds, America’s entrepreneurial spirit has come roaring back.” Isabella Casillas Guzman, 27th Administrator of the U.S. Small Business Administration (SBA.)
Project and Vendor Management Advisors, LLC (“PVMA”)is a women and minority-owned management consulting firm that provides an effective, efficient, and proven project management framework to deliver solutions to large complex challenges. PVMA provides experienced professionals that deliver quality results, on-time performance, and within budget for services related to grant administration, financial audits, compliance and monitoring, case management, and stakeholder engagement. PVMA’s staff of subject matter experts consist of Healthcare, (HUD) housing, FEMA, Emergency Management and Disaster Recovery specialist.
PVMA deploys teams of project managers and subject matter experts across the country to manage capital projects, emergencies, and disasters that impact municipalities, counties, governments, and the private sector. The firm has provided services for some of the largest recovery efforts since 2012 related to Disaster Recovery Financial Management & Reimbursement, Grant Management and Reimbursement Compliance Services, Case Management, FEMA Individual Assistance, Program Management & Housing Programs, and COVID 19 Reimbursement Services.