Tag: CBRE

CBRE arranges sale of office showroom across from Globe Life Field in Arlington

Posted on by Mia Goulart

CBRE announced the sale of Stadium Drive, a 68,485-square-foot two-building office showroom project located at 801-803 Stadium Drive in Arlington, Texas.

Thurston Witt and Johnny Dunn with CBRE arranged the transaction on behalf of the seller, DSW Stadium Properties, LP, to an undisclosed buyer.

Ideally located across from Globe Life Field in the middle of Arlington, the property is well positioned for a vertical redevelopment with flexible Entertainment District Overlay zoning. The property is in the middle of Arlington’s entertainment corridor with two professional sports teams stadium (AT&T Stadium for the Dallas Cowboys and Globe Life Field for the Texas Rangers), two Six Flags theme parks, Texas Live!, and several restaurants, shopping centers, museums and entertainment venues.

CBRE appoints John Moake as San Antonio market leader

Posted on by Mia Goulart

CBRE has appointed John Moake as managing director and market leader for its San Antonio business, effective immediately. In this role, Moake will oversee business operations and drive the office’s growth strategy for all advisory services lines of business, including leasing, sales, valuations, project management and property management.

Moake has over 15 years of industry experience as a producer and business leader. He joined CBRE in November 2019 through the company’s acquisition of REATA Real Estate, where he was a partner. At CBRE, he most recently served as first vice president, handling project leasing and tenant representation for notable investors/developers and high-profile retailers. During his tenure at CBRE, Moake has led or participated in 230 transactions encompassing 900,000 square feet for a total consideration of $160 million.

Alongside his brokerage experience, Moake previously helped manage and grow REATA’s broker associate training program and led Birnbaum Property Company’s in-house leasing program and property management business, overseeing the management of over 1.5 million square feet of retail, industrial and office assets in greater San Antonio.

Moake is a graduate of Texas Tech University and is a member of ICSC.

Trade-critical warehouse on Texas-Mexico border sells for $9.1 million

Posted on by Mia Goulart

CBRE has arranged the sale of a 79,883-square-foot warehouse in Laredo, Texas, to a 1031-exchange buyer for $9.15 million.

Anthony DeLorenzo, Bryan Johnson, Nick Williams, and Elizabeth Bachhuber with CBRE’s Investment Properties—California/Arizona/Nevada represented the seller, California-based Stos Partners, in the transaction.

Located at 13806 North Unitec Drive, the property was built in 2001 and is fully occupied by Grupo Cargoquin, a supply chain company that provides custom agency, third-party logistics (3PL), transportation logistics and foreign trade consulting services. The facility comprises two buildings with 22-foot clear heights, eight drive-ins, 21 loading bays and 53 parking spaces.

The facility sits on 4.94 acres just off Interstate 35, which connects Laredo with the rest of the United States and Canada. The property is 20 minutes from the Port of Laredo and 30 minutes from the Laredo International Airport, providing access to both passenger and cargo transportation. Laredo metro area is home to more than 260,000 people and 112,000 jobs, according to the Texas Development Corporation.

Laredo’s industrial real estate supply has grown by 10% over the past five years to 36 million square feet with a vacancy rate of just 1.5% in the fourth quarter of 2022, according to CBRE Research. The average asking rent increased by 6.1% year-over-year in 2022 to $9.53 per square foot for a triple-net lease. As more manufacturing operations are nearshored, trade with Mexico is expected to increase, along with industrial investor and occupier interest.

Hines secures IBM to anchor new office tower in Austin

Posted on by Mia Goulart

CBRE has arranged a significant pre-lease with IBM to anchor a new 507,200-square-foot next-generation office development planned by Hines on the north end of The Domain, known as Austin’s “second downtown.” IBM plans to relocate and consolidate its two current office locations near The Domain at the highly amenitized building, slated for occupancy by 2027.

CBRE’s Bo Beacham and John Barksdale represented the developer, Hines, in the transaction.

Hines’ new Class AA development within The Domain will comprise of two 14-story interconnected towers with exclusive lobbies for each tower and exterior aesthetics that will set a new bar in the Dominion submarket. Catering to the needs of the modern workforce, tenants will experience multiple amenity decks on the ninth floor, private balconies on each floor, outdoor sports amenities, and a high-end fitness and conference center. Additionally, the property will place a heavy emphasis on ESG, and is being designed for LEED Gold certification and will seek WELL Platinum, WiredScore Platinum, and Austin Energy Green Build distinctions. Construction is anticipated to begin in late 2023.

Will Haynes, II, joins CBRE as an executive vice president in Dallas

Posted on by Mia Goulart

CBRE announced that Will Haynes, II, has joined its Dallas-Fort Worth Advisory & Transaction Services team as an executive vice president. Haynes will bolster CBRE’s office occupier business, supporting K-12 and higher education, government, and corporate real estate occupiers with their real estate needs throughout the metroplex.

A 14-year industry veteran, Haynes joins CBRE from Colliers International, where he served as managing director for Office Occupier Services in addition to leading its North Texas Education Services practice group. He has represented notable education users across North Texas, including Dallas College, International Leadership of Texas, Pegasus School of Liberal Arts & Sciences and Birdville Independent School District, in real estate transactions.

Haynes is a graduate of Manhattan College, where he played NCAA Division I basketball. He is active in a variety of professional and philanthropic organizations across Dallas-Fort Worth, including Society of Industrial & Office Realtors (SIOR) and St. Phillips School & Community Center. Additionally, he is an alumnus of Leadership Dallas and Leadership ISD.

CBRE National Partners arrange the sale of Alcott Station in East Dallas/Mesquite

Posted on by Mia Goulart

CBRE announced the sale of Alcott Station, Buildings B & D. The two buildings, totaling 918,000 square feet, are a part of a 160-acre master planned Class A+ business park in Mesquite, Texas. BentallGreenOak purchased the property from Urban Logistics Realty for an undisclosed price. Building D was 100% leased at the time of sale to RJW, a third-party logistics provider. 

Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller. 

Alcott Station is a master planned business park that will include over 1.6 million square feet once fully developed. The property encompasses human-centric designs implanted across the entire park to enhance the quality of life of the surrounding residents and future employees. Urban Logistics initially began plans for Alcott Station in 2020 after a successful project in Mesquite called Urban District 30, a nearly one million-square-foot business park near I-30 and Loop 635. 

What sets Alcott Station apart is the emphasis on creating an exceptional working environment. Located at the intersection of E. Scyene Road and Faithon P. Lucas Sr. Boulevard, Alcott Station was designed to include a five-acre public park connected to each building by a walking trail with the intent to enhance the quality of life for employees and surrounding residents. The park area will have playground equipment, workout equipment, as well as a fenced dog park. The Alcott Station design standards create a welcoming and modern corporate campus environment across the entire 160-acre master plan development.

Totaling 592,995 square feet, Building D was fully leased to RJW at the time of the sale. Building B, totaling 325,218 square feet, is available for lease. CBRE’s Kacy Jones, John Hendricks and Trevor Atkins with CBRE in Dallas are marketing the building for lease for the new ownership.