JLL Capital Markets Closes $61 Million in Financing for 17-Market Industrial Portfolio

JLL Capital Markets has arranged $61 million in acquisition financing for an industrial portfolio comprising nearly 24 last-mile, cross-dock truck terminals and transload properties across 17 markets in the Southeast, Mid-Atlantic, New England and Central U.S.

JLL worked on behalf of the borrower, Biynah Industrial Partners, to source the acquisition loan.

The portfolio is 93 percent leased to 18 tenants with an average tenure of nearly 17 years and substantial investment-grade in-place tenancy. The portfolio crosses various regions with assets in the Southeast, Mid-Atlantic, New England and Central U.S.

The portfolio provides end-to-end logistics solutions for today’s supply chain demands. These facilities represent mission-critical freight distribution transfer points, facilitating the flow of goods at the last stage of the supply chain. Each site offers optimal solutions for facility location, facility size, proximity to major infrastructure, truck court sizing, auto parking and other special use considerations.

This portfolio highlights the growing demand for Industrial Service Facilities, a rapidly growing multi-billion asset class that is suddenly on the radar of institutional investors. Such last-mile, cross-dock truck terminals and transload properties are increasingly driving investor attention due to their critical role in the movement of goods amidst supply chain backlogs.

The JLL Capital Markets team that represented the borrower was led by Managing Director Matthew Schoenfeldt and Director Lucas Borges.

Colliers Sells ±4.18 Acres Along Beltway 8 in South Houston

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

(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.

Houston-area Retail Strip Center Acquisition Financed

JLL Capital Markets announced today that it has arranged acquisition financing for Harper’s Trace Center, a fully leased, 12,928-square-foot retail strip center in the Houston-area community of Conroe.

JLL worked on behalf of the borrower, Austin-based Door Capital Partners, to place the five-year, fixed-rate non-recourse acquisition loan with Woodforest National Bank.

Completed in 2017, Harper’s Trace Village is triple net leased to a diverse, synergistic mix of tenants, including Subway, SuperCuts, Papa John’s, Greenpath Pharmacy, 242 Animal Hospital and Friendly Dentists, along with a popular wireless provider. An adjacent, non-owned Starbucks and O’Reilly Auto Parts help drive traffic to the property, and a Chick-fil-A will be opening next door.

Harper’s Trace Village is positioned on 1.27 acres at 10161 Highway 242 in Conroe, a northern suburb of the Houston MSA. The property is within a popular retail corridor and surrounded by residential neighborhoods that house nearly 85,000 residents earning an average annual household income of $108,968. Additionally, the property is across the street from a new 102,000-square-foot H-E-B grocery store.

According to JLL Research’s United States Retail Outlook Q1 2022 report, smaller-sized retailers are currently driving demand for neighborhood and strip centers. Vacancy compressed 110 basis points year-over-year ending the first quarter of 2022 to 6.0%. Rents rose 1.4% during the quarter and 4.6% over the previous year.

The JLL Capital Markets Debt and Advisory team representing the borrower was led by Senior Director CW Sheehan, Managing Director Michael Johnson and Analysts Hunt Wood and Matt Ctvrtlik.

Houston-area Retail Strip Center Acquisition Financed

JLL Capital Markets announced today that it has arranged acquisition financing for Harper’s Trace Center, a fully leased, 12,928-square-foot retail strip center in the Houston-area community of Conroe.

JLL worked on behalf of the borrower, Austin-based Door Capital Partners, to place the five-year, fixed-rate non-recourse acquisition loan with Woodforest National Bank.

Completed in 2017, Harper’s Trace Village is triple net leased to a diverse, synergistic mix of tenants, including Subway, SuperCuts, Papa John’s, Greenpath Pharmacy, 242 Animal Hospital and Friendly Dentists, along with a popular wireless provider. An adjacent, non-owned Starbucks and O’Reilly Auto Parts help drive traffic to the property, and a Chick-fil-A will be opening next door.

Harper’s Trace Village is positioned on 1.27 acres at 10161 Highway 242 in Conroe, a northern suburb of the Houston MSA. The property is within a popular retail corridor and surrounded by residential neighborhoods that house nearly 85,000 residents earning an average annual household income of $108,968. Additionally, the property is across the street from a new 102,000-square-foot H-E-B grocery store.

According to JLL Research’s United States Retail Outlook Q1 2022 report, smaller-sized retailers are currently driving demand for neighborhood and strip centers. Vacancy compressed 110 basis points year-over-year ending the first quarter of 2022 to 6.0%. Rents rose 1.4% during the quarter and 4.6% over the previous year.

The JLL Capital Markets Debt and Advisory team representing the borrower was led by Senior Director CW Sheehan, Managing Director Michael Johnson and Analysts Hunt Wood and Matt Ctvrtlik.

Colliers Sells ±22 Acre Development Opportunity in Conroe, Texas

Houston, June 16, 2022 – Colliers is pleased to announce the sale of ±22 acres located at 10594 League Line Road in Conroe, Texas. The buyer, 10594 League Line Investment LLC, was represented by Tom Dosch, David Marhsall, George Notte and Tim Dosch of Dosch Marshall Real Estate. Michelle Soderberg and Tom Condon, Jr. of Colliers represented the sellers, Mark and Janet Blott, and Henry and Betty Blott, in the transaction.

The ±22 acre development opportunity is adjacent to The Woodlands Hills by Howard Hughes, a new ±2,500 acre master planned community development. The property is situated within the Willis ISD school district with utilities available through City of Conroe. The buyer indicated they acquired the property for investment. //localusteama.colliers.com