Wilson Matthew Nechikat Insurance Agency dba Way.com Insurance renewed and expanded into 8,225 square feet at 15355 W. Vantage Pkwy in Houston, TX. Thomas Emde represented the landlord, Hartman Income REIT.
Category: Deals & Announcements
Colliers Sells ±1.03 Acre Fenced and Paved Site in Houston
Houston, May 18, 2022 – Colliers is pleased to announce the sale of ±1.03 acres located at 4506 and 4512 Steffani Lane in Houston, Texas. The buyer, Lipien Land Company LLC, was represented by Andrew Brod of Whitebox Real Estate, LLC. Paul Dominique and Tom Condon, Jr. of Colliers represented the seller, 4512 Steffani Property LLC, in the transaction
The fenced and paved site was once two former buildings consisting of 16,000 and 5,000 square feet. The plot now features three curb cuts, a useable slab in place and is not within the flood plain. The property is situated just north of Clay Road between Steffani Lane and Gessner Road with easy access to Sam Houston Tollway, Hempstead Highway and Northwest Freeway (290).
The property is located in Houston’s Northwest Inner Loop industrial submarket. The submarket contains 64.8 million square feet of existing industrial space, which is currently 94.5% occupied. There is 135,000 square feet of additional space under construction.
Downtown Austin’s Momentum Continues with Sale and Financing of Westview
JLL Capital Markets announced today that it has closed the sale and arranged financing for the acquisition of Westview, a LEED-Gold, Class-A creative office building totaling 100,166 square feet in downtown Austin, Texas.
JLL procured the buyer, Arc Capital Partners, and represented the seller, Prescott Group. Additionally, JLL helped facilitate the acquisition loan.
Westview is located at 316 W. 12th St. at the intersection of Guadalupe and 12th Street in downtown Austin. The property has a live-work-play location with more than 2.9 million square feet of retail nearby and more than 3,000 multi-housing units in addition to being just blocks from the University of Texas at Austin and the Capitol. The property is well-served by public transportation with a MetroRapid service stop in front of the building.
Recently renovated into a LEED Gold, boutique creative office building, Westview features floor-to-ceiling windows, flexible floorplates, and a new HVAC system with MERV-rated air filtration. Westview is 93% leased and offers market-leading amenities including an on-site café, conference room, fitness center with showers, bike lockers, and a rooftop terrace with panoramic views of Austin. Prescott Group acquired Westview in 2016, with the vision to renovate and transform the asset into a unique property befitting its Austin surroundings. Partnered with a local Austin contractor, The Burt Group, and Andersson Wise as the Architect the team was able to accomplish their goals.
The JLL Capital Markets debt team representing Arc Capital Partners was led by Senior Managing Director Jeff Sause, Managing Director Casey Wenzel and Analyst Matthew Ctvrtlik.
The JLL Capital Markets sales team representing Prescott Group was led by Senior Managing Directors Andrew Levy and Todd Savage and Managing Directors Kelsey Shebay and Jeff Coddington.
The Woodmont Company Begins Construction of New Starbucks in Longview
The Woodmont Company, a national real estate firm specializing in the development, management, leasing and sale of retail properties, has started construction on a new Starbucks located at 3620 Estes Parkway adjacent Interstate 20 in Longview, Texas. The restaurant will feature a drive-thru and outside seating but no indoor dining.
The Starbucks building replaces a gas station that was demolished. This restaurant will be located next to a new McDonalds.
$58.3 Million Financing Secured for Texas Multi-Housing Development
JLL Capital Markets announced today that it has closed the $58.3 million construction financing for The View at Sapphire Bay, a Class-A, 394-unit, mid-rise multi-housing community located on the shore of Lake Ray Hubbard in Rowlett, Texas.
JLL represented the borrower, Zale Properties, to secure the eight-year, fixed-rate construction loan through Principal Global Investors.
Upon completion in May 2024, the five-story View at Sapphire Bay will consist of one-, two- and three-bedroom floorplans with an average unit size of 941 square feet. The units will feature open island kitchens, white custom cabinetry, full-size washers and dryers, pendant lighting, walk-in closets, quartz and granite countertops, ten- to fourteen-foot ceilings, hardwood style flooring, stainless steel appliances and private balconies. Community amenities will include co-working office space, game rooms, resort-style pool, a cabana and grill house with outdoor fireplace, a fitness center, a pet spa, a garden courtyard and kitchen and a landscaped picnic area.
The site is advantageously located within the master-planned, 116-acre, mixed use Sapphire Bay development, which will be anchored by a man-made lagoon and serve as a luxury resort destination within Texas.
Situated at 30 Dalrock Road, the property will offer residents immediate access to Interstate-30, one of the primary thoroughfares in the region that runs straight into downtown Dallas. It is proximate to a diverse corporate environment with City Line Development and Telecom Corridor just 20 minutes away. Additionally, downtown Rockwall is across the lake from the project and offers over three million square feet of retail, including The Harbor Rockwall, Steger Town Crossing, Rockwall Crossing and Plaza Rockwall.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director John Brownlee along with Director Wilson Bauer.
Office Tower in Houston’s Energy Corridor Trades to Local Investor
JLL Capital Markets announced today that it has closed the sale of One Park 10 Plaza, an eight-story office tower totaling 162,919 square feet in Houston’s Energy Corridor.
JLL represented the seller, Accesso Partners, LLC, and procured the buyer, Interra Capital Group.
Located at 16225 Park Ten Place, the property is within Houston’s Park Ten office park, a 550-acre, master-planned, mixed-use development comprising a major portion of the Energy Corridor. One Park 10 Plaza is highly visible from Interstate Highway 10 and is just west of Highway 6 providing connectivity throughout the Greater Houston area. The surrounding area is home to numerous headquarters locations for many multi-national companies as well as the affluent neighborhoods of The Villages and Westchase.
One Park 10 Plaza has been continuously updated with more than $1.1 million in capital improvements over the last decade and is currently 76.2% leased to a diverse tenant roster. The property sits on a 3.27-acre site and includes a four-story, 560-space parking garage.
The JLL Capital Markets team representing the seller was led by Managing Directors Marty Hogan and Kevin McConn.