Category: North Texas News DO NOT USE

RESOLUT RE Inks Eight Deals in Four Texas Markets

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RESOLUT RE recently completed eight retail transactions throughout Texas. The deals included sales and leases in the Austin, Dallas, Houston, and San Antonio markets. Le Posh Nails & Spa has leased 2,400 square feet at Sunset Valley Marketfair (5400 Brodie Lane, Austin). Joey Mendez of RESOLUT RE represented the tenant. Hutch Hutchings and Cole Brodhead of Edge Realty Partners represented the landlord. Security State Bank has leased 3,000 square feet at Panther Plaza Liberty Hill (15100 Texas 29, Liberty Hill, Texas). Phil Morris, Jacob Nagy, and Emilie Niekdam of RESOLUT RE represented the landlord. Cole Valley Partners has acquired a 0.67-acre pad site at West Killeen Market located at 1101 West Stan Schlueter Loop in Killeen, Texas. Dave Burggraaf of RESOLUT RE represented the buyer. Bryan Dabbs of Stratus Properties represented the seller. At Ease Essentials has leased 1,300 square feet at The Kate (726 Scott Avenue, Wichita Falls, Texas). Chris Flesner and Brian Sladek of RESOLUT RE represented the landlord. Herbalife has leased 1,000 square feet at Denison Retail (2731 W Morton Street, Denison, Texas). Colin Cannon and Brian Sladek of RESOLUT RE represented the landlord. HardCore Tattoo has leased 1,187 square feet at West Oaks Plaza (2703 South Texas 6, Houston). Myra Vorrice of RESOLUT RE represented the tenant. Abdul Sabha of Hunington Properties represented the landlord. KM Home Furniture & Mattress has leased 6,504 square feet at Katy Freeway Plaza (22121 Katy Fwy, Katy, Texas). Eric Broussard and Joaquin Orozco of RESOLUT RE represented the landlord. A nail salon has leased 1,711 square feet at Rante Office Park (20711 Wilderness Oak, San Antonio). Emilie Niekdam of RESOLUT RE represented the tenant.

NAI Investment Fund Rebrands as Partners Capital

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The investment arm of NAI Partners announced its new name: Partners Capital. The business entity was previously known as the NAI Investment Fund. Partners Capital remains a wholly-owned subsidiary of NAI Partners. “Today is an incredibly exciting day for us,” said Andrew Pappas, head of Partners Capital and shareholder at NAI Partners. “Partners Capital represents the evolution of our investment platform and our team’s steadfast commitment to a shared vision. After closing more than $125 million in transactions since 2017, we are well on our way to our stated goal of a portfolio of $1 billion—and we are just getting started.” “Partners Capital has fully deployed three investment funds in three years, continually delivering strong in-place cash flow combined with tremendous upside to its investors through vacancy lease-up, mark-to-market rates and meticulous asset management of its property portfolio,” said Jon Silberman, managing partner of NAI Partners. “Refining the investment fund platform’s identity as Partners Capital will augment its reputation and brand recognition as it goes to market and wins deals, and create increased value for its investors.” Pappas has led Partners Capital for nearly five years. During that time he has spearheaded the acquisition of more than 1 million square feet of office, industrial and retail properties in Houston, Austin, San Antonio and Dallas, and overseen more than $165 million in transaction volume. Kelli Walter is Partners Capital’s senior vice president of asset management, responsible for executing NAI’s business plan for every owned asset and playing a major role in the ongoing growth of Partners Capital’s portfolios and the execution of its investment strategy. Adam Hawkins is a vice president for Partners Capital, whose primary focus is procuring acquisition opportunities. He is also actively involved in property divestitures, executing asset management strategies, and supporting the ongoing portfolio management process. Donna Lanier is Controller of Partners Capital; and Sloan Crady is the platform’s financial analyst. Partners Capital has acquired more than a dozen properties through its three investment funds. The current portfolio consists of office buildings, industrial properties, and retail centers, and totals more than 1 million square feet and over 325 tenants.

Industrial & Innovation; Dallas-Based 42Real Estate Digs into New Projects

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As an interviewer, it’s tough to talk to 42 Real Estate founder Scott Rohrman and not ask about Deep Ellum, what is now the arts and entertainment neighborhood in east Dallas, but he graciously talked about Deep Ellum, so long as we could discuss his other love: industrial real estate. “Deep Ellum was just a complete departure from what we’d done before,” said Rohrman, adding, “Although urban revitalization is now also part of our DNA.” Though his company’s name is inextricably linked to the reinvigoration of what had been a largely industrial and neglected area into a successful restaurant, bar and venue scene, 42 Real Estate’s foundation is industrial built-to-suit projects. “In the past 20 years, we’ve built about $1 billion worth of industrial,” Rohrman said, “And we’ve developed projects in 26 states, plus Canada.” Before forming 42 Real Estate, Rohrman served as a partner in two separate commercial real estate development companies. He also logged time at brokerage firms The Stratford Group and Fischer & Company after working as a broker at Grubb & Ellis / Henry S. Miller Company, where he started his career. You’re no doubt wondering about the company name. Why 42? Rohrman likes to play coy with the answer. 42RealEstate.com has an entire page dedicated to the explanation of the name, or possible lack thereof. The verdict, really, is yours. Another unique feature of the firm is its approach. Its team is divided into development management, construction management and property management because, you see, the firm does it all. Rohrman says that over the years, people have suggested hiring a construction manager and/or a property manager for his projects as that may be more efficient. Maybe so, he acknowledges, but it would also be less personal. Click to read more at www.rednews.com.

CBRE Brokers Sale of 158-Unit Multifamily Property in East Dallas

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CBRE announced the sale of Bella Vista Park, a 158-unit multifamily community located at 2700 N. Buckner Boulevard in Dallas. Justin Li purchased the property from Dallas-based AmeriCan Multifamily Alliance Group. Chris Deuillet and William Hubbard with CBRE Capital Markets’ Investment Properties represented the seller. The new owner has plans for extensive interior and exterior upgrades to the facility, providing them with opportunities for rent growth as the east Dallas area continues to grow. Located at the southeast corner of Ferguson and Buckner in east Dallas, Bella Vista Park has 139,355 square feet net rentable area. The property was 94 percent occupied at the time of sale. The area has seen a resurgence in both rent increases and pride of ownership as investors have put large amounts of capital into the neighborhood’s retail and multifamily developments. “Even during the pandemic, Dallas-Fort Worth and Texas as a whole have seen massive amounts of investment money coming here due to its positive job growth and ease of doing business,” said Deuillet. “Through CBRE’s international network, we were able to help a first-time buyer in Texas with their 1031 exchange, moving his funds from California to the Lone Star State.”

NAI Robert Lynn Medical Real Estate Fund Acquires Indiana Property

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Robert Lynn Investments (RLI), a Dallas-based commercial real estate investment company, announced the purchase of a 23,346-square-foot dialysis center and clinic at 10120 Calumet Ave. in Munster, Indiana, just 30 minutes from Chicago. It’s the first acquisition for Med Strategy Fund l, a $30-million equity fund dedicated to the aggregation of medical properties. RLI, the investment division of NAI Robert Lynn, is the fund sponsor. Med Strategy Fund I is national in scope, with a goal to aggregate more than $90 million of medical properties. The properties are stabilized and strategically located within medical submarkets to produce current yield to be distributed quarterly. American Renal Associates, one of the largest dialysis service providers in the United States, is the primary tenant in the medical fund’s first acquisition. The build-to-suit, Class-A property is new construction in a prime location. Munster is part of the Chicago medical submarket, which is near two major hospitals and serves Chicago and three surrounding Indiana counties. Frank Roti of Marcus & Millichap in Chicago represented the seller and primary tenant in the deal. Med Strategy Fund l represented itself in the transaction.

NAI Robert Lynn Named Owner’s Rep of Fort Worth’s Revamped Sun Valley Industrial Park

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Empire Texas Equities, Ltd., a real estate investment and management firm, has transformed Sun Valley Industrial Park into a first-class business park over the last decade, and its latest transformation is two state-of-the-art, 13,036-square-foot flex spaces located at 4808 and 4809 Vesta Farley in southeast Fort Worth. Todd Hubbard, president of Fort Worth for NAI Robert Lynn, is the owner’s broker, representing lease negotiations. The new buildings are ready for industrial tenants, and six more buildings from the portfolio will be ready in 2021. The buildings range from 12,000 square feet to 30,000 square feet. Each building comes with oversized 14-foot roll-up doors, fully secured HVAC and electric panels, large, fenced and concrete storage yards, a high-end security system and smart phone integration. “Thanks to modern interior and exterior aesthetics, we’re offering regional companies an opportunity to have a functional, first-class headquarters facility while also offering national companies a facility that is equivalent to any high-end industrial facility across the country,” said Sandra McGlothlin, owner of Empire Texas Equities, Empire Roofing and Empire Disposal. “While we own and operate many properties, our passion has always been investing in the area in our backyard, and it is great to elevate this location with the construction of these unique, ground-up construction facilities. We are proud to be a part of the continued transformation of southeast Fort Worth.” Sun Valley Industrial Park is highly desirable to tenants due to its high-end office finishes and easy highway access. Office amenities include solid core doors, brushed stainless steel hardware, modern style floors and separate office and warehouse bathrooms. The property is less than three minutes from Loop 820, Interstate 20 and U.S. Highway 287, and it’s 29 minutes from Dallas-Fort Worth International Airport. “It’s been rewarding to see this area and industrial park transform,” Hubbard said. “It has the functionality of the most sought-after Industrial space with oversized doors and outdoor storage, but it comes with the modern amenities of a Class A office space. That’s almost impossible to find.” Empire Texas Equities owns and manages more than 80 properties across the state of Texas, Florida, Oklahoma and Georgia including industrial, office, flex and retail. Empire Texas Equities is a member of the Empire family of companies, which includes Fort Worth-based Empire Roofing, the largest commercial roofing company in the southern United States with 14 locations and Empire Disposal, which services the DFW metroplex.