Category: News & Market Reports

Colliers Mortgage Closes $9.8 Million Fannie Mae Loan for Arroyo Square

Posted on by Sarah

The Minneapolis office of Colliers Mortgage, part of Colliers International | U.S., recently closed a $9.8 million Fannie Mae loan for the acquisition financing of Arroyo Square, a 182-unit market rate multifamily apartment property located in San Angelo, Texas. The 10-year term, 30-year amortization loan was arranged through a partnership with Old Capital Lending for Arroyo Square, LLC. Constructed in 1977, amenities at the pet-friendly community include pool, picnic area, grills, tennis and basketball courts, business center and fitness center.

CBRE Brokers Sale of Single-Tenant Office Building in Plano

Posted on by Sarah

CBRE facilitated the sale of a single-tenant, 39,324 square foot office building located at Parkwood Village in Plano, Texas. The building was developed by Dallas-based LandPlan Development and St. Ives Realty. The partnership sold the property located at 8454 Parkwood Boulevard to an international investor for an undisclosed sum. Located in the middle of the Legacy submarket’s dense business and retail corridor, the building is in close proximity to the Legacy West and Granite Park business parks. Tenants are right across the Tollway from two premier shopping centers, The Stonebriar Centre and the Shops at Legacy, giving them easy access to a variety of dining and retail options including Nordstrom, Shake Shack, Mesero, Sephora and Tesla. The building is fully occupied by a Fortune 500 logistics company. The tenant moved into the newly constructed space in 2018 and expanded into the entire building in 2020 after signing a new 10-year lease, offering the buyer stable rent income over the next decade. “This asset had tremendous interest pre-COVID from both local and international investors,” said Michael Austry, first vice president with CBRE. “CBRE’s Deal Flow platform allowed us to have a competitive bidding process, which ultimately found a very motivated buyer who performed. We were excited to close in the middle of a global pandemic with no price concessions. That just shows the strength of this building, tenant and the Plano market.” Austry and Jared Aubrey with CBRE Capital Markets represented the seller in the transaction.

CBRE Completes Two New Office Lease Agreements at 1000 Louisiana in Houston

Posted on by Sarah

CBRE arranged two leases totaling more than 14,000 square feet at 1000 Louisiana in Houston. The two tenants, DLR Group and BVA Group will take 9,014 and 5,467 square feet, respectively, as part of their relocations. CBRE’s Marilyn Guion and Warren Savery are the exclusive leasing agents for 1000 Louisiana. Charles Daggett, Drew Morris, and Lizzie Prochazka with Savills represented DLR Group in the transaction. Bryant Lach with JLL represented BVA Group. DLR Group, an integrated design firm providing architecture, engineering, planning, and interior design from offices around the globe, will relocate from 919 Milam. BVA Group, litigation, valuation, and financial advisory firm, is relocating within the building and extending their term. “We have continued to see good leasing activity, comparative to the market, at 1000 Louisiana. I believe a big reason for this is the commitment the landlord has made to maintaining amenities and services for their clients. For example, when Adair Downtown opened in January, we knew it would be a special amenity for tenants and in the current environment that expectation was well surpassed,” said Guion. “They have remained open, offering tenants to-go and in-person dining, showing our commitment to the tenants of 1000 Louisiana.” A recent CBRE survey of 32 companies across 18 countries found the increase in remote work will certainly have an impact on office utilization, but it will not mean an end to the office, rather, a fresh start. The office of the future may be modified to support impromptu collaboration, creative ideation, and social connections that are best served in person. With a renewed focus on the quality of both the workplace experience and design, it is clear the role of the office as a destination for employees is still important for companies to maintain.

RESOLUT RE Inks Eight Deals in Four Texas Markets

Posted on by Sarah

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.

NewQuest Inks Four Texas Deals

Posted on by Sarah

NewQuest Properties closed three retail deals and one industrial transaction. The transactions concerned properties in the Houston and San Antonio markets. Long CAP LP has acquired the 10,000-square-foot Long Point Shopping Center on 0.92 acres at 9207-9221 Long Point Road in Houston. Austen Baldridge and David Luther of NewQuest Properties represented the seller, NU Way LLC, in the direct deal. JENAP Investments LLC has acquired a 7,500-square-foot warehouse on 4.8 acres at 1219 Wunsche Loop in Spring, Texas. Jeff Lokey of NewQuest Properties represented the seller, Axiom Wunsche Loop LLC, in the direct deal. Furniture & Beyond has leased 15,115 square feet of retail space in Kroger Junction, 2619 Red Bluff Road in Pasadena, Texas. Austen Baldridge of NewQuest properties represented the landlord, 2619 Realty Holding LLC, in the direct deal. IH3546 FREIHEIT LLC has acquired an 88,599-square-foot Kohl’s on 8.85 acres at 1050 N. Interstate 35 in New Braunfels, Texas. Marc Peeler, David Luther and Austen Baldridge of NewQuest Properties represented the buyer. Burns Commercial Properties represented the seller, KPE Firstplace Land LLC.

NAI Investment Fund Rebrands as Partners Capital

Posted on by Sarah

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.