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Doc Perrier and David Durham with Finial Group coordinate a sublease at 155 Posey Road, Building 2, in San Marcos, Texas.
The 14,250-square-foot building has 2,500 square feet of new office space in addition to two grade level doors and two dock high doors.
Doc Perrier and David Durham represented the sublessor in this transaction.
Hartman INCOME REIT MANAGEMENT, Inc. has announced a handful of recent lease transactions:
Berkadia has arranged the sale and finance of Cypress Parc, a 200-unit garden-style multifamily community in Houston. Managing Directors Chris Young and Joey Rippel, Director Kyle Whitney, Managing Director Jeffrey Skipworth and Senior Managing Directors Chris Curry and Todd Marix of Berkadia Houston represented the seller, Lionel Partners, an investment management company based in Orem, Utah.
Senior Managing Director Cutt Ableson of Berkadia Houston secured the debt on behalf of the buyer, Trinnium Equity Group, a real estate investment and property management company based in Salt Lake City, Utah.
Located at 18001 Cypress Trace Road, Cypress Parc is a two-story multifamily community that uniquely offers only two- and three-bedroom units that range from 926 to 1,420 square feet. Individual unit amenities feature electric kitchens with pantries, floor carpeting, window coverings, ceiling fans, walk-in closets, private balconies or patios, and washer and dryer connections. Community amenities include a pool, fitness center, laundry facilities, business center, clubhouse, volleyball court, grill, and picnic area.
Cypress Parc is across from Lents Dog Park and Lents Family Park and near the North Houston regional medical district. It is within 15 minutes of The Woodlands and George Bush Intercontinental Airport and less than 30 minutes from Downtown Houston.
A community-focused eatery based in Australian café culture will open its first Dallas restaurant at Stream Realty Partners’ office development, The QUAD, in Uptown Dallas.
Two Hands will occupy one of the five free-standing retail spaces surrounding the 12-story, Class AA office tower at 2699 Howell St. in the heart of Uptown. The casual restaurant will offer indoor and outdoor dining with a menu of fusion share plates and well-traveled classics for breakfast, lunch, and dinner. A comprehensive coffee program and full-service bar also will be featured.
Stream, a national real estate services, development, and investment firm headquartered in Dallas, is developing the 345,425-square-foot, office building and surrounding 18,500-square-foot retail area heralded as the dawning of “A Different Dallas”. The project plays a key role in the rebirth of the Quadrangle, which once was Dallas’ first mixed-use development dating back to 1966.
Two Hands, which launched in 2014, currently has six locations in some of the country’s most upscale, chic neighborhoods including NoHo, Nolita, Williamsburg, and Tribeca in New York City, the Gulch in Nashville, and SoCo in Austin. Two additional restaurants in Denver and Franklin, Tennessee, are expected in 2023. An opening date for The QUAD eatery is planned for Q1 of 2024.
Two Hands is the first retail lease signed at The QUAD, with additional restaurant announcements anticipated by mid-2023. Chicago Title was the first office tenant to commit to the project in September 2022. The largest title insurer and provider of real estate-related products and services in the world will occupy 20,000 square feet in the office tower. The firm has officed at 2828 Routh St., an existing building on the same site as The QUAD, for more than a decade.
In addition to a workplace and next-generation retail space, The QUAD will boast amenities including a penthouse tenant lounge and conference center, full-service fitness studio with floor-to-ceiling windows, dedicated underground parking, bike valet, and plenty of outdoor seating and green space. The building will feature a cutting-edge user functionality and technological foundation with smart elements such as a proprietary centralized building operations app, hands-free “wave” doors, and hospital-grade air filtration systems.
The QUAD is owned and managed by Stream’s Investment Management Platform, which leverages expertise from the firm’s 14 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively manages four discretionary commingled funds, in addition to several joint ventures, and wholly owned assets totaling 31 investments of 21 million square feet and approximately $3.1 billion in assets under management.
Stream Vice President Ryan Evanich and Senior Associate Marissa Parkin lease the office space at The QUAD.
Partners Real Estate (Partners), one of the largest independent commercial real estate firms in Texas, recently arranged a 15,726-square-foot renewal and expansion with Kinetik located at 2700 Post Oak Boulevard in Houston’s Galleria submarket.
Partners John Zivley and Griff Bandy represented the tenant in the transaction. Win Haggard with Cushman Wakefield represented the landlord in the transaction.
Marcus & Millichap announced the sale and financing of Courtyard by Marriott Dallas Grand Prairie, a four-story, 120-room hotel in Grand Prairie, Texas.
“Growing occupancy and average daily room rates throughout the Metroplex are drawing the attention of hospitality investors,” said Chris Gomes, senior managing director investments in Marcus & Millichap’s Dallas office. “The area’s strong economic growth, underscored by the large quantity of corporate move-ins during the pandemic, indicate a coming increase in business travel that bodes well for the hospitality industry overall.”
Gomes and Allan Miller in Marcus & Millichap’s Austin office represented the seller, Anderson Companies and procured the buyer, MCR Hotels. Pete Fehlman, managing director with Marcus & Millichap Capital Corporation in Dallas arranged acquisition financing.
The hotel is located between Dallas and Fort Worth along President George Bush Turnpike, near the intersection of Interstate 20 and Highway 161, 15 miles from DFW International Airport. Businesses nearby include Dallas Naval Air Station, Lockheed Martin Corp., Poly-America, Bell Textron Inc., Lear Grand Prairie, Forterra Pipe & Precast, and Flex-N-Gate Texas. Year-round entertainment, shopping and leisure are provided by Lone Star Park, Six Flags Over Texas, the Grand Prairie Premium Mall, and Ripley’s Believe It or Not. Constructed in 2021, the hotel’s guest amenities include an on-site restaurant, outdoor swimming pool, over 2,000 square feet of meeting space, a fitness center, and laundry facility.