Category: Deals & Announcements

Fort Capital Secures Financing for Seven-property Industrial Portfolio in Houston

Posted on by Sarah

JLL Capital Markets announced today that it has arranged acquisition financing for the Houston Prime Industrial Portfolio, a seven-property light-industrial portfolio totaling 711,399 square feet across 23 buildings in Houston.

JLL worked on behalf of the borrower, Fort Capital, in securing the $72 million senior loan through PCCP for the acquisition and stabilization of the properties.

The portfolio is currently leased to a diverse group of 126 tenants operating in various industries including healthcare, automotive, construction, technology, energy, etc. The buildings, which were built between 1978-2000, offer 13- to 25-foot clear heights with varying office finishes.

The properties are positioned across Houston’s North, Northwest, Southwest and South industrial submarkets. The Houston Industrial market is currently 94% occupied and has incurred over 32 million square feet of net positive absorption over the past 12 months.

The JLL Capital Markets team representing the borrower was led by Managing Director Cullen Aderhold.

Friedman Real Estate Secures Lease with Clay Road Retail Center in Katy

Posted on by Sarah

Friedman Real Estate, one of the nation’s leading providers of commercial real estate services, recently leased the 3,420-square-foot retail space in Katy, Texas. Clay Road Retail Center has easy access to the Grand Parkway, Highway 6, and Interstate 10.

Friedman’s Nick Jasien and Larson Riff advised the landlord in the transaction.

Class A Industrial Portfolio in Dallas Suburb Finds New Owner

Posted on by Sarah

JLL Capital Markets has closed the sale of Star Commerce Center II and IIIA, two Class A industrial warehouses totaling 244,364 square feet in the North Dallas suburb of Frisco.

JLL represented the seller, Blue Star Land, in the sale to Lincoln Property Company.

Star Commerce Center II and IIIA are 100% leased to a strong roster of brand name distribution tenants, including GEA Food Solutions and Vivint. Delivered between 2020 and 2022, the rear-load buildings offer a 32-foot clear height, 34-38 dock high doors, three drive-in doors, 135- to 210-foot truck courts and approximately 15% office finish.

Located at 16005 Gateway Dr. and 16440 Gateway Path within the Northeast Dallas submarket, Star Commerce Center II and IIIA provides north-south and east-west accessibility, connecting the property to Dallas-Fort Worth’s fastest growing population centers as well as regional access to the Texas Triangle, the area between Dallas-Fort Worth, Houston, San Antonio and Austin. This area makes up the seventh largest mega-region in North America and ranks among the world’s 15 largest economies. Furthermore, over the next 40 years, the region’s population is expected to grow by more than 65%.

The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and Analyst Matthew Barge.

Friedman Real Estate Secures Lease with Evins Group, LLC in Houston

Posted on by Sarah

Friedman Real Estate, one of the nation’s leading providers of commercial real estate services, recently leased the 1,100-square-foot retail space in the Alamo Plaza on Dacoma Street in Houston.

With 55 years of staffing industry experience, Evins Group, LLC delivers HR innovation, recruitment, and staffing solutions that enhance workforce planning strategies.

Friedman’s Larson Riff and Nick Jasien advised the landlord in the transaction.

Colliers Mortgage Closes $4.5M HUD Loan for Avanti at Greenwood in Corpus Christi, Texas

Posted on by Sarah

Jeff Rogers of the Fort Worth office of Colliers Mortgage closed a $4.5 million HUD loan for the refinance of Avanti at Greenwood in Corpus Christi. The project is an 81-unit broadly affordable multifamily property. The property currently has eight units restricted to individuals or families earning 30% or less of area median income, 15 units restricted to individuals or families earning 50% or less of area median income, and 50 units restricted to individuals or families earning 60% or less of area median income. The remaining eight units at the property are market rate units.

As part of the transaction, the borrower was able to pay off their construction loan and put long term HUD financing on the property.

The loan carries a 35-year term/amortization and was arranged for borrower, Avanti at Greenwood, LP.

Phaidon International Dallas Office Relocates to The Centrum in Oak Lawn

Posted on by Sarah

Cushman & Wakefield announced today the commercial real estate services firm has arranged a new 26,687-square-foot office lease in the Oak Lawn area on behalf of global talent partner Phaidon International.

Travis Boothe, Robbie Baty, and Hannah Henley of Cushman & Wakefield represented Phaidon International in the lease negotiation. Addie Ludwig with Cawley Partners represented the landlord, Oak Tree Capital and Cawley Partners.

Located at 3102 Oak Lawn Ave., the new Dallas office sits within The Centrum near Turtle Creek Park. The move comes following Phaidon International’s rapid growth within the DFW market. The new office will be able to accommodate in excess of 250 full time employees.

The Centrum features a 15,000-square-foot courtyard, a roof top deck, tenant lounge, conference center, fitness center, and street level restaurants. The mixed-use property also includes 10 stories of office space and eight stories of condominium space. The Centrum is more than just an office building, it’s a lively community workspace with ample areas for collaboration and innovation.