Silver Star Properties REIT, Inc. (Silver Star Properties), formerly known as Hartman Short Term Income Properties XX, Inc. has announced new leasing transactions in Dallas and Houston:
Healthline Medical Equipment, Inc. Renewed 12,001 square feet at 1901 North Glenville Drive in Richardson, Texas. In the transaction, Lynna Smith represented the landlord, Silver Star Properties REIT.
Perc Engineering, LLC expanded 3,078 square feet marking a 14749 office space at 1880 S. Dairy Ashford Road in Houston, Texas. In the transaction, John Silberman with NAI represented the tenant and Kacie Skeen represented the landlord, Silver Star Properties REIT.
JLL Capital Markets announced today that it has arranged approximately $190 million acquisition financing for 10 healthcare properties totaling 857,779 square feet.
JLL worked on behalf of the borrower, Big Sky Medical Real Estate, in securing the five-year, floating-rate loan from a bank syndication led by Capital One Healthcare.
The properties, which are collectively 87% occupied, serve a wide range of healthcare uses, including outpatient medical office buildings, ambulatory surgery centers, diagnostic imaging centers and more. The portfolio includes:
Pyramids North, 9201 North Central Expressway, Dallas, Texas
Pyramids South, 9101 North Central Expressway, Dallas, Texas
Providence Park, 2501 Earl Rudder Freeway, College Station, Texas
Tidal Health Cardiology, 400 Eastern Shore Dr., Salisbury, Maryland
Pelican Professional Center, 42388 Pelican Professional Park, Hammond, Louisiana
Texas A&M Health Science Center, 8441 Highway 47 West, College Station, Texas
Peak Surgical Center, 610 North Coit Road, Richardson, Texas
Valley Ortho & River Surgical Institute, 609 East Orangeburg Avenue, Modesto, California
JLL’s 2022 Healthcare and Medical Office Perspective highlights that patients are moving to sunbelt states and retirement markets such as Texas, Louisiana and California at exponential rates creating more demand for medical office buildings. As a result, medical office occupancy has ticked upwards as demand intensifies in a moderate construction environment which has gradually increased rents for the 11th quarter in a row.
The JLL Capital Markets team representing the borrower was led by Managing Directors Timothy Joyce and John Chun and Director Anthony Sardo.
Dayton Street Partners (DSP) has acquired a 65-acre, four building, high-tech manufacturing and distribution campus in the Dallas suburb of Richardson, Texas.
Upon close, the seller, a leading provider of IT and communications networks, signed a leaseback for 10% of the 845,000-square-foot campus while Celestica, the multinational electronics manufacturing services company, executed a lease for 672,588 square feet. The remaining 90,000 square feet is a single-story industrial facility that the seller vacated at close. DSP will immediately begin a significant renovation and repositioning the building.
In addition, the Chicago-based developer/investor plans to develop a 240,000-square-foot warehouse/distribution center on nine acres of unimproved land. Completion is expected in early 2024.
Located in the 190 Stem Corridor, the campus offers immediate access to President George Bush Turnpike Highway (Highway 190), US 75 and a highly skilled labor pool. The campus was constructed in two phases: Phase I was completed in 1990 and Phase II in 2001.
Transwestern’s Larry Serota, Mike Hardage and Nora Hogan represented the seller in the transaction.
McCarthy Building Companies, Inc. has moved their Dallas office to a new location at 3400 N. Central Expressway in Richardson. The new office, located in the CityLine mixed-use development, will also serve as headquarters for McCarthy’s parent company, Genuine McCarthy Enterprises and its associated subsidiaries.
McCarthy has been building in Dallas for more than 40 years and is expanding their office to accommodate rapid growth in the market. McCarthy plans to hire approximately 150 new employees in the coming year to support recently awarded contracts across Texas. The new office will also hold McCarthy’s newly formed civil business unit focused on civil construction projects supporting the transportation (roads, rail and aviation), solar, water and commercial markets.
McCarthy’s Southern Region maintains offices in Austin, Channelview, Dallas and Houston, Texas, as well as Atlanta, Georgia, serving a variety of markets including aviation, civil, healthcare, marine, mission critical, renewable energy, water, and wastewater. McCarthy’s corporate headquarters are in St. Louis, Missouri.