Category: Focus 2020

Stream Realty Partners Closes Eight Industrial Deals in Houston Metro

Posted on by Sarah

Stream Realty Partners’ Houston office recently brokered eight real estate leases in the Houston area. The deals were all for industrial and/or flex space. Onus Global Fulfillment Solutions expanded its lease by 89,533 square feet at Carson 249, 12202 Cutten Road in Houston. Dillon Dummit with Savills and Pablo Ng with United Heroes Realty represented the tenant. Justin Robinson and Jeremy Lumbreras with Stream Realty Partners represented the landlord, The Carson Companies. SpaceManager Closets signed a lease of 28,640 square feet at Prologis Bondesen, 10633 West Little York Road in Houston. Chase Spence with Colliers International represented the tenant. Jeremy Lumbreras and Jeff Pate represented the landlord, Prologis. TT Stone expanded and renewed its lease of 70,238 square feet at Northwest Industrial Park, 5750-5730 Campbell Road, Houston. Geoff Perrott and Jeff Venghaus with JLL represented the tenant. Boone Smith and Garret Geaccone with Stream Realty Partners represented the landlord, DRA Advisors. Designs Brokers renewed its lease of 4,660 square feet at Silber Road Business Park, 2055 Silber Road in Houston. Patrick Buckoff with RE/MAX represented the tenant. Garret Geaccone and Boone Smith with Stream Realty Partners represented the landlord, Agellan Commercial REIT. Winfull Corp signed a lease of 6,860 square feet at Corporate Park, 12613 Executive Drive in Stafford, Texas. Heath Donica with Stream Realty Partners represented the tenant. Boone Smith and Garret Geaccone with Stream Realty Partners represented the landlord, Alpha Industrial Properties. Monolithic Precision Technology renewed its lease of 10,800 square feet at Commerce Park Northwest, 8601 Jameel Road in Houston. Jeremy Lumbreras and Boone Smith represented the landlord, Link Industrial Properties. Oxford Builders signed a 6,000-square-foot lease at Commerce Park Northwest, 6001 Stonington Road, Houston. Boone Smith and William Carpenter with Stream Realty Partners represented the landlord, Link Industrial Properties. Pronto Vending renewed its lease of 17,134 square feet at Agellan Minimax, 2301-2399 Minimax Drive in Houston. George Montes with Cypressbrook Company represented the tenant. Boone Smith and Garret Geaccone represented the landlord, Agellan Commercial REIT.

Bellomy & Co. Brokers Sale of Life Storage in Haslet, Texas

Posted on by Sarah

Bellomy & Co. announced the sale of Life Storage in Haslet, Texas, approximately 16 miles from Downtown Fort Worth. The Class A property comprises 623 units and 22 parking spaces in 78,950 square feet. Terms of the deal were not disclosed. Bill Bellomy and Michael Johnson of Bellomy & Co. represented 287 Willow Springs Storage, LP, the North Richland Hills, Texas-based seller. The team also procured the New York-based buyer, Angelo Gordon Real Estate, Inc.

PPP and Other SBA Loan Provisions in Consolidated Appropriations Act of 2021

Posted on by Sarah

The Consolidated Appropriations Act of 2021 — which includes a $900 billion COVID-19 stimulus package that extends unemployment benefits and provides additional assistance for small businesses — was signed into law December 27, 2020. The Act also contains several key provisions regarding the Small Business Administration (SBA) and the paycheck protection program (PPP). Here is a summary:

Deductibility of PPP funded expenses: This provision overturns the IRS ruling that expenses funded with PPP loans were not deductible. Effective date is back to enactment of CARES Act.

EIDL advances: The $10,000 EIDL advance is excluded from income and no expenses are disallowed with respect to the income exclusion. In addition, EIDL advances no longer will reduce the amount of PPP loan forgiveness.

Income exclusion and expense deductions for payments made on Section 7(a) SBA loans: Section 1112 of the CARES Act provided that the SBA would pay up to six months of principal and interest on certain SBA loans. The new Act would provide, similar to PPP loans, that the principal paid by the SBA does not result in income forgiveness and no deductions are disallowed as a result of the income forgiveness.

Click to read more at www.wipfli.com.

Children’s Hospitals, Tech Giants and More: The Top 5 Northwest Austin Development Stories of the Past Year

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By Iain Oldman | 8:40 AM Dec 28, 2020 CST

While sections of the local economy closed down due to the coronavirus pandemic, residential and commercial development plowed along in Northwest Austin. Looking ahead, 2021 looks to be a transformative year for Northwest Austin with massive development projects, including the Austin FC soccer stadium and the upcoming Apple 2 campus, ready to open their doors. Here are the five most read development stories from 2020.

1. Abbott executive order deems residential construction as an “essential service” across the state
Gov. Greg Abbott on March 31 issued an executive order that implements essential services protocols across the state of Texas. Read the full story here.
2. Revised Apple campus site plan in Northwest Austin includes new 6-story hotel
A revised site plan submitted earlier this year by Apple Inc. includes a new six-story hotel at the technology giant’s upcoming Northwest Austin campus. Read the full story here.
3. Northwest Austin family building first brewery in Anderson Mill
When Derek and Haley Law began initial designs on their upcoming brewery, they went in knowing they wanted the space to be as welcoming to the community as possible. Read the full story here.
4. Why did Dell Children’s Medical Center choose Northwest Austin for its newest pediatric hospital?
Click to read more at www.communityimpact.com.

NAI Partners Arranges Sale of O’Reilly Auto Parts Retail Property

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NAI Partners recently arranged the sale of a 7,225-square-foot O’Reilly Auto Parts retail property for Agree Stores, LLC at 8142 Kitty Hawk Road in Converse, Texas. NAI Partners’ Joe DeCola along with Cole Flanagan of Investment Property Advisors represented the seller in the transaction. Terms of the deal were not disclosed.

Asite Becomes a Member of Construction Industry Institute at the University of Texas

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Asite has joined the Construction Industry Institute (CII) based out of the University of Texas in Austin. The CII is a consortium made up of over 140 leading owner, engineering-contractor and supplier firms from both the public and private sectors, brought together to enhance the business effectiveness and sustainability of the capital facility life cycle through CII research, related initiatives and industry alliances. “For over 30 years, CII has been working to apply research and best practices to create positive change in the industry,” said Chris Peters, Asite senior vice president of North America. “Here at Asite, we are thrilled to be joining the CII and become part of this effort to identify opportunities and invoke true change.” The CII creates competitive global market advantages for its members through its research-based and member-driven creation of knowledge and CII best practices. Working with the CII will help provide Asite with a decisive industry edge and provide the company with access to leading academics, identifying the most significant opportunities for industry improvement. “We are delighted to join the Construction Industry Institute (CII) based here in Texas. Our membership with CII is a perfect fit for Asite as we share the value of working collaboratively to develop the innovative solutions that will, ultimately, drive our industry forward,” said Gene Brieck, Asite vice president of sales for North America. “Working as an R&D research lab for capital projects, CII is consistently at the forefront of new industry developments, and we are excited to now be part of this team and that journey.