Republic Square, 13501 Katy Freeway, Houston: Built in 1994 and located at I-10 and Memorial Drive next to Terry Hershey Park, 20 miles west of downtown Houston, Republic Square is a three-story, 301,311-square-foot office building offering large floor plates, direct elevator access to offices and a range of green space, including interior courtyards and 21 miles of lakeside walking and biking trails. A large, open lobby with floor-to-ceiling windows overlooks a lake.

Dart acquired the building, the former Exxon Chemical headquarters, in 2014 and spent the subsequent period renovating it. Dart replaced all building mechanicals, refurbished restrooms and 20,000 square feet of executive space, and added a new cafe, conference room and fitness center with locker room and shower. It also updated all landscaping and the trail and lake system.

Republic Square can accommodate smaller and larger tenants and offers easy access to the William P. Hobby Airport. Current tenants include GATE Energy, Sparkhound and Samsung.

OAKBROOK TERRACE, Ill. (July 15, 2022) — Hiffman National, a leading commercial property management firm, announced today it has been retained by Dallas-based Dart Interests to manage two of its commercial properties in Texas totaling 1.75 million square feet. The assets include Republic Square, a 300,000-square-foot Class A office building on 35 wooded acres at 13501 Katy Freeway in Houston’s Energy Corridor; and 2200 South Business 45, a 1.45 million-square-foot industrial building in Corsicana, Texas, 60 miles south of Dallas.

Hiffman National, which started as a division of NAI Hiffman and, in 2021, began operating as a separate company offering commercial property management services nationwide, is a multi-year winner of the Property Management Firm of the Year award from the National Association for Industrial and Office Property (NAIOP) and other industry recognitions. It will provide each property with day-to-day operational oversight, tenant service, rent collection, property accounting, financial reporting, maintenance, engineering and capital improvement oversight to maximize the financial performance of each property.

Dart Interests, a national real estate investment and development firm with more than $1 billion in residential, commercial and resort properties in New York, California, Florida, North Carolina, South Carolina, Washington, D.C., and Texas, already partners with Hiffman National on the management of three industrial buildings at Maple Centre in the Inland Empire in Corona, Calif.

“Hiffman National understands Dart’s vision for developing institutional investment-quality commercial properties,” said Jon Herbster, vice president of Dart Interests. “Their proven client-service approach offers our properties a competitive advantage. They bring a like-minded, collaborative asset management approach to our project leasing teams to help attract and satisfy our tenant base, which in turn allows our assets to stand out in the markets in which we operate. Their ability to scale their service consistently and yet tailor their platform for each property’s needs was crucial to the expansion of our relationship.”

“Dart Interests has an incredible track record of transforming residential, commercial and hospitality environments nationwide into investment-grade properties through the unique lens of their visionary leadership,” said Jim Tainter, senior vice president – Sun Belt region for Hiffman National. “We bring an owner’s perspective to a property’s operations that collaboratively enhances project leasing efforts, thereby attracting and retaining tenants. That’s particularly crucial in many office markets, where post-COVID vacancy rates remain high. In Houston, where vacancies are approaching 27% for office buildings, landlords are prioritizing nicely refurbished space with amenities and hospitality-level service that makes tenants’ employees want to come to work every day. Dart Interests has adopted this strategy by partnering with Class A property management partners who can deliver on all ownership objectives.”

2200 South Business 45, Corsicana, Texas: Built in 1981 and acquired and renovated by Dart in 2018, 2200 South Business 45 is a former Home Depot distribution center with 1,453,620 rentable square feet – expandable to 2 million square feet – including 13,248 square feet of modern office space featuring private offices, a conference room, data processing room, cafeteria and first aid station.

Features include 92 dock doors and two drive-in ramps, parking for 560 cars and 1,130 trailers, and Union Pacific rail access. The property offers easy access to I-45 and State Highway 31 for travel to Dallas/Fort Worth and the Dallas/Fort Worth International Airport.

Davita is one of the largest kidney care companies in the U.S. with a network of 2,753 outpatient dialysis clinics in 46 states serving a total of 207,000 patients. DaVita will continue to lease their portion of the building under a 10-year primary term.

“This was a great transaction for both the buyer and seller,” said Todd Moore, Principal of Colliers. “The property has tremendous value add potential in leasing up the vacancy, while benefiting from long term, investment grade tenancy in place.”

Houston’s medical office market totals 43.6 million square feet of medical office space, which is currently 88.0% occupied. Rent growth is up 1.9% over the quarter and there are 2.2 million square feet of new product under construction.

For further information please contact:
Todd Moore | Principal
+1 713 830 2191 todd.moore@colliers.com

For further information please contact:
Connor Duffy | Associate
+1 713 830 4010 connor.duffy@colliers.com

Flextek Resources, LLC expanded into 4,767 square feet at 11200 Westheimer Rd in Houston, TX. Donna Svec represented the landlord, Hartman Income REIT.

Houston, July 8, 2022 – Colliers is pleased to announce the sale of the S&S Auto building, an ±8,000 square foot retail building located at 6166 Westheimer Road in Houston, Texas. Todd Moore of Colliers represented the seller, 6166 Westheimer Road LLC, in the transaction.

“This is an excellent piece of real estate along heavily trafficked Westheimer Road,” said Todd Moore, Principal of Colliers. “We received over a dozen competitive offers, and we are pleased to have completed this transaction for our client who has owned the property for more than 30 years.”

The single-tenant retail building is situated on 0.45 acres just west of the 610 West Loop South with frontage on Westheimer Road. The property is located in Houston’s Near West retail submarket. The submarket contains 13.3 million square feet of retail space, which is 95.3% occupied. There is an additional 60,000 square feet of retail space currently under construction.

For further information please contact: Todd Moore | Principal, Houston+1 713 830 2191 todd.moore@colliers.com

Houston, July 7, 2022 – Colliers is pleased to announce the sale of Dutch Bros Coffee ground lease located at 9415 Barker Cypress Road in Cypress, Texas. The buyer, a 1031 Exchange investor out of California, was represented by Brendan Kenevan of The Mansour Group. Todd Moore and Connor Duffy of Colliers represented the seller, CC TL Parkway, in the transaction.

The property is on a long-term ground lease and is located next to Lone Star College in the high-growth submarket of Cypress, Texas.

“We received multiple offers on this property within days of launching it to the market,” said Todd Moore, Principal of Colliers. “Dutch Bros is expanding nationally and investors have been aggressively seeking these out as long-term investments. There were multiple competing Dutch Bros on the market when we launched this process, and this location attracted attention from a solid pool of buyers. We are extremely pleased to have completed this transaction on behalf of our client.”

Dutch Bros Coffee is a coffee chain based out of Oregon with both company-owned locations and franchises throughout the United States. It was started in 1992 as a pushcart to serve fantastic coffee beverages and make connections within the community.

The property is located in Houston’s Bridgeland retail submarket. The submarket contains 4.7 million square feet of retail space which is currently 96.6 percent occupied. 39,100 square feet of new retail delivered in the last 12 months and there are 66,000 square feet of retail space currently under construction in the submarket.

For further information please contact: Todd Moore | Principal, Houston +1 713 830 2191 Todd.Moore@colliers.com

Torchy’s Tacos property in the Boardwalk at Towne Lake located at 9975 Barker Cypress Road in Cypress, Texas. The buyer, Melcher Investments, represented themselves in the acquisition as part of a 1031 Exchange. Todd Moore and Connor Duffy of Colliers represented the seller, CC Boardwalk I, L.P., in the transaction.

“This was an excellent transaction for both parties. This unique location at the Boardwalk is one not easily replicated. The Boardwalk development sees tremendous foot and vehicle traffic, and it’s not surprising that this is a top-performing location,” said Todd Moore, Principal of Colliers.

Boardwalk at Towne Lake is situated just north of Tuckerton Road along Barker Cypress Road. The Torchy’s Tacos retail property sits along the lake near the first entrance of Boardwalk at Towne Lake within a short distance of other retailers including Ambriza, Coco’s Crepes and World of Beer. This top-performing location is one of Torchy’s Tacos corporate chain’s top 5.

The property is located in Houston’s Bridgeland retail submarket. The submarket contains 4.7 million square feet of retail space which is currently 96.6 percent occupied. 60,600 square feet of new retail delivered in the last 12 months and there is 42,000 square feet of retail space currently under construction in the submarket.