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Partners Real Estate recently arranged a 30,493-square foot office lease with Texas Chiller Systems located at 4441 Centergate Street in San Antonio, Texas.
Partners’ Kyle Kennan represented the tenant in the transaction. Colin McLellan with Llano Realty represented the landlord, EDG Centergate, LLC.
StreetLights Residential, a design-driven developer of multifamily and mixed-use communities, is pleased to announce three executive-level promotions. Andrew Kastanos has been promoted to chief financial officer, and Case Killgore and C.J. Cacheris have joined StreetLights’ senior management team as president of development and president of design-build, respectively.
Kastanos, who was promoted to senior vice president of finance in 2022, and chief financial officer at the end of 2022, is responsible for all debt and equity capital markets, as well as capital relationship management. Kastanos was one of the first employees at StreetLights after its founding in 2011, starting as a senior financial analyst, and was the first member of the senior management team to be brought up from inside the organization. During his time at StreetLights, he has been involved in 44 project starts and $3.4 billion capitalized to date.
Killgore has been promoted from senior vice president of development to president of development, joining the senior management team. Killgore is responsible for overseeing the company’s development efforts across the country, including feasibility and site selection. Prior to this, he oversaw all regional development efforts after establishing the portfolio management platform. He has been with StreetLights since 2019.
Cacheris joins the senior management team as president of design-build after functioning as senior vice president of design-build. Cacheris oversees the vertically integrated organizational structure of the core architectural, interior design and construction business units. During his time at StreetLights, C.J. has acted as senior vice president of design-build, vice president of LEAN and LEAN director. Bringing his expertise in organizational change management, business architecture and knowledge of startup technology process frameworks to StreetLights, he has transformed the way the company thinks about flow of work and how things get done.
Partners Capital, the investment arm of Partners Real Estate (Partners), has sold Blanco Crossing, a 22,606-square-foot retail center located at 19179 Blanco Road in San Antonio. The property was originally acquired by Partners Capital in 2020 through its third investment vehicle.
The buyer was a private investor in San Antonio, Texas. Philip Levy and Jack Newman of Marcus & Millichap represented Partners Capital on the sale.
Partners Capital has completed more than $450 million in transaction volume during the last six years and their current portfolio comprises of more than 1.4 million square feet. Additionally, the Partners Capital team is currently raising capital for Partners Opportunity Fund V—which will be a $150 million equity investment vehicle acquiring value-add industrial, retail, and office properties in Texas and beyond.
An Irving office building leased by Stream Realty Partners since 2010 has been sold to a Dallas-based real estate private equity fund.
Reserve Capital Partners, in partnership with Trinity Investors, purchased Crestview Tower at 105 Decker Court from Austin-based CapRidge Partners. The new owner has hired Dallas architectural firm Entos Design to completely reimagine the building’s entry, lobby, fitness center, tenant lounge, and outdoor patio. Reserve Capital’s construction team will oversee the multi-million-dollar renovation featuring design elements such as wood-slatted accent walls and ceilings, modern pendant lighting, and stylized directional wall graphics. Furniture, artwork, carpets, and wallpapers will boast warm, earth-tone colors. The project is expected to take approximately four months once plans are finalized. Financing for the project was provided by Southside Bank Senior Vice President for Commercial Real Estate Jonathan Ferrell.
Reserve Capital will retain Stream, a national commercial real estate firm offering an integrated platform of services, to lease the 12-story building in the booming Las Colinas submarket. Executive Vice President and Partner Tim Terrell and Managing Director Rhett Miller of Stream Dallas serve as the leasing agents.
Crestview Tower was designed to house the headquarters of firms seeking inspiring workspaces. Building amenities include a conference center, on-site property management, 24-hour security, keycard access, fiber internet, and day porters.
Tenants appreciate being within walking distance from 50,000 square feet of retail shops and local and chain restaurants. High-end residential units and hotels also are nearby. The property sits right off State Highway 114 and offers commuters easy access to SH 183 and 161 as well as interstates 35E and 635. Three major transportation hubs–Dallas Fort Worth International Airport, Dallas Love Field Airport, and Addison Airport–are 10 minutes, 15 minutes, and 23 minutes away, respectively.
Crestview Tower is currently 78% leased. The office building has several speculative suites available with high-end finishes and access to full amenities. Rentable office spaces range from 943 square feet to 8,447 square feet.
Silver Star Properties REIT, Inc. has recently announced two leasing transactions in Dallas, Texas:
JLL Capital Markets has closed the sale of Greenville Self Storage, a 741-unit, climate-controlled self-storage facility in Dallas, Texas.
JLL marketed the property on behalf of the seller, Wentworth Property Company, LLC. Extra Space Storage purchased the asset.
Completed in 2019, Greenville Self Storage totals over 83,000 square feet, which includes 2,100 square feet of retail space. The four-story, Class A facility offers drive-up units, security and personalized access. CubeSmart was previously managing the property, which is currently over 90% occupied.
The property is located at 7557 Greenville Ave. next to Royal Oaks Country Club at the intersection of Walnut Hill Lane and Greenville Avenue in North Central Dallas. The site provides convenient access to Central Expressway and LBJ Freeway, two of the city’s primary thoroughfares, and is visible to more than 30,000 vehicles per day. The area surrounding the property is home to more than 173,000 residents within a three-mile radius, which provides a stable long-term demand base.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Brian Somoza and Steve Mellon, Directors Matthew Wheeler and Adam Roossien.