Origins Counseling, LLC renewed 2,405 square feet at 12850 Hillcrest Rd in Dallas, TX. Lynna Smith represented the landlord, Hartman Income REIT.
Category: Deals & Announcements
Marcus & Millichap Arranges Sale of Two-Building Industrial Warehouse in Beaumont
Marcus & Millichap announced the sale of Avenue A Warehouse Park, a two-building, fully occupied, 24,000-square-foot, multi-tenant industrial property located in Beaumont, Texas, according to Division Manager Tim A. Speck of the firm’s Dallas office.
Senior Managing Director Investments Adam Abushagur and Associate Max Lozmack had the exclusive listing to market the property on behalf of the seller, a local private investor. The buyer, a private investor out of California, was also procured by Abushagur and Lozmack.
Avenue A Warehouse Park is located at 5452 Hagner Road in Beaumont, Texas. The subject property is situated on 0.77 acres of land and was built in 1970.
Partnership Picks up Boutique Office Asset in Galleria Submarket
JLL Capital Markets has closed the sale of 1717 St. James Place, a boutique office building totaling 110,452 square feet in Houston, Texas.
JLL represented the seller, Accesso Partners, LLC, and procured the buyer, Silver Creek Realty Advisors.
1717 St. James Place is positioned on 2.34 acres within St. James Place, a deed-restricted business park on the south side of San Felipe in Houston’s Galleria submarket. The property is adjacent to the Tanglewood neighborhood and in close proximity to numerous tenant amenities.
The six-story asset offers a park-like atmosphere with on-site security and management as well as a conference room, access to a newly renovated cafeteria in the adjacent property and on-site structured parking for more than 120 vehicles. 1717 St. James Place is currently 70.5% leased to a diversified tenant roster spanning the real estate, financial services, legal, technology, energy and medical industries.
The JLL Capital Markets team representing the seller was led by Managing Directors Marty Hogan and Kevin McConn.
Marcus & Millichap Arranges Sale of 127-Unit Apartment Building in Dallas
Marcus & Millichap announced the sale of Chesapeake, a 127-unit apartment property located in Dallas, Texas.
Nick Fluellen, Senior Managing Director, Bard Hoover, Senior Managing Director, and Wesley Racht, Senior Associate, in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Mr. Fluellen, Mr. Hoover and Mr. Racht.
Chesapeake is located at 11620 Audelia Road in Dallas, Texas.
TradeLane Properties Acquires Industrial warehouse in Fort Worth
TradeLane Properties announced the acquisition of 5050 Rondo Drive, a 92,144 square foot industrial warehouse situated on 4.13 acres in Fort Worth, Texas.
Purchased within the TradeLane Properties U.S. Industrial Fund II, L.P., a value-add investment fund focused on key Central U.S. logistics markets, the investment was 100% occupied at closing under a sale-leaseback.
This freestanding single tenant industrial warehouse offers 6 dock high doors (expandable), 16- to 23-foot clear height, one drive-in-door, 3,000 amps of power, 54 auto stalls, 175-foot deep truck court and a fully air-conditioned warehouse.
The acquisition of 5050 Rondo drive is consistent with TradeLane Properties’ strategy of investing in select major Central U.S. logistics markets with opportunity to add value through dedicated in-house capabilities including accounting, construction, and property management teams.
TradeLane Properties would like to thank Jamie Galati with JLL, Michael Hall with Barack Ferrazzano Kirschbaum & Nagelberg LLP and Illinois Bank & Trust for their assistance in this transaction.
Alliant Credit Union Provides $10.6 Million Acquisition Loan for Industrial Flex Property in Austin
In Austin, Texas, Alliant provided a $10.6 million loan for the acquisition of a 77,985-square-foot industrial flex property comprising four single-story buildings offering a mix of office and warehouse space. The property is over 90% occupied by 17 tenants.
Terms of the 5-year Alliant loan included a rate lock, full-term interest-only payment structure, and flexible prepayment penalty. The borrower was a private investor group. Ron Granite and Jason Hochman of Cushman and Wakefield referred the transaction to Alliant.
Constructed in 1986, the well-maintained Springwoods Business Center is located about 13 miles north of downtown Austin, in a growing suburb with access to main thoroughfares and freeways. The northwest submarket is the center of Austin’s high-tech sector and one of the most attractive for corporate relocations in the region. Dozens of well-known technology companies have recently announced efforts to relocate or expand their operations in the Austin area.