On the market: HFF has been
retained to market 1200 Post Oak.

HOUSTON-HFF has been tapped to market the 356-unit, class A 1200 Post Oak Boulevard multi-housing tower in the Galleria/Uptown submarket on behalf of the seller, a New York City pension fund advisor. Though competed in 2003, the property is being marketed with value-add opportunities for investors.

Though an asking price isn’t attached to the offering, the Harris Central Assessment District values the 33-story property at $58.2 million. The tower is situated just west of Interstate Loop 610 adjacent to Uptown Park in the northern portion of Houston’s Galleria/Uptown District. 

“1200 Post Oak is an iconic building that anchors the northern skyline of the Galleria/Uptown district,” commented HFF senior managing director Craig LaFollette in a press release.  “The property is proximate to the most anticipated new developments underway in the area, including the first new office towers in three decades, which are expected to generate more demand for luxury housing.” LaFollette is leading the team representing the property’s seller.

 


ACQUISITIONS/DISPOSITIONS

 

ARIZONA

PHOENIX

  • Ehyan Caldwel of Abbotsford, BC in Canada acquired the 248-unit Bella Sol Apartments at 4032 W. Osborn Rd. from Plaza Apartments LLLP for $6 million in cash.  Bill Hahn, Jeff Sherman and Trevor Koskovich, HSK Multifamily Specialists with Colliers International brokered the transaction.

SCOTTSDALE, AZ

  • Triton Investment Co. sold the 18-unit Villa Contento at 1550 N. 85th Place to DRSM LLC for $4.2 million.  Brian Tranetzki with Marcus & Millichap Real Estate Investment Services represented the seller. Brock Danielson of KW Commercial represented the buyer.

 


LEASING

 

ARIZONA

PHOENIX

  • Phoenix Health Plan has renewed its lease and expanded its space by 40% at Catalina Terraces, 7878 N 16th St. The tenant added 19,000 square feet to its existing space, meaning it now occupies 64,000 square feet.  Kate Morris and Vince Femiano with Transwestern represented the tenant. The landlord, Santa Fe, NM-based Rosemont Realty, was represented by Phil Breidenbach and Keith Lambeth of Colliers International.

SCOTTSDALE

  • Summit Health Inc. signed a 66-month lease for 20,189 square feet at Cornell Technology Center, 17301 N. Perimeter Dr. Steve Farrell with Lee & Associates negotiated on behalf of Summit Health while Bryan Taute of CBRE represented the landlord, Cornwell Corp.

TEXAS

ARLINGTON

  • American Tax Service signed a long-term, 1,837 square-foot lease at Commonwealth Centre, 4200 S. Cooper St. Judy Nitzinger with SCM Real Estate Services represented the landlord in this transaction

DALLAS

  • RLG Consulting Engineers Inc. has renewed and expanded to 15,173 square feet of office space at La Sierra Office Building, 5445 La Sierra Dr. Dave Besserer and Curt Linn with Bradford Commercial Real Estate Services represented the tenant in direct talks with the owner, Fred Pakravan.

EULESS

  • Nelson Gideon signed a new 1,021-square-foot lease at Euless Main Village, at 412-418 Main St. Beaux Riley with SCM Real Estate Services represented the landlord in this transaction

HOUSTON

  • Computer Technology Solutions – PCS leased a 201,374 square foot industrial building at 4949 Windfern.  The landlord, NCP 2007 Houston, LLC, was represented by John Ferruzzo and Chris Kugle of NAI Houston.  Andy Iverson and Joshua Brown of Jackson Cooksey represented the tenant.

GRAPEVINE

  • Mountain Movers Transportation & Logistics signed a 15,500-square-foot renewal and expansion, adding 6,300 square feet of warehouse space in DFW Port America Logistics Center 6, 753 Port America Place. Joe Santaularia with Bradford Commercial Real Estate Services represented the tenant. Gil Stroube of Lincoln Property Co. represented the landlord, ProLogis.
  • Dove Logistics & Transportation LLC renewed 12,194 square feet of warehouse space in ProLogis Port America 22, 1732 Minters Chapel R. Joe Santaularia with Bradford Commercial Real Estate Services represented the tenant. Gil Stroube of Lincoln Property Co. represented ProLogis, the landlord.

SAN ANTONIO

  • EOG Resources Inc. leased 10,175 square feet at Tesoro Campus, 19100 Ridgewood Pkwy. Mike Sawtelle of CBRE represented the tenant. Jeff Miller of Travis Commercial represented the landlord, Tesoro Company Inc.
  • Schlumberger Technology Corp. leased 8,175 square feet at 777 E. Sonterra Blvd. Mike Sawtelle with CBRE represented the tenant. Taylor Dorris, also with CBRE, represented the landlord, Concord Terrace  LLC.
  • Texas Parks & Wildlife Division leased 4,105 square feet at Marymont Technology Park, 2391 NE Loop 410. Sherri Fesperman with CBRE represented the tenant. Amber Austin with Transwestern represented the landlord, RLA Real Estate.
  • TTP16 Northbrook LLC, owner of Northbrook Business Center at 140 Heimer Rd., signed the following tenants:
  • ABSG Consulting Inc. signed a new lease for 11,373 square feet. Mark Coffey of Bailes and Associates represented the tenant in the deal.
  • ADT renewed a lease for 23,793 square feet. Mike Sawtelle of CBRE represented the tenant in the renewal. Jason Schnittger with Stream Realty Partners LP represented the landlord in the transactions.

 


MARKETING/LEASING ASSIGNMENTS

 

ARIZONA

GOODYEAR

  • CBRE has the leasing assignment for Phase II of Mountain Ranch Medical Commons – Estrella, a planned single-story, 30,000-square-foot class A medical office building at 9780 S. Estrella Pkwy., adjacent to the new Banner Health Primary Care Clinic. Bruce Campbell and Kelley Ahrens of CBRE’s Phoenix office are handling the leasing responsibilities on behalf of Irgens, the project’s owner and developer.

TEXAS

BASTROP

  • Forestar Group has retained CBRE to market the 41-acre Hunters Crossing Business Park at the intersection of SH 71 and Farm-to-Market Road 304. Colin Armstrong with CBRE is representing Forestar Group. The area has the potential for 500 homes, large retail development and land for multifamily projects. In addition, it will offer sites for new office, medical and R&D/flex buildings, which currently do not exist in the market. CBRE is offering the land for sale in part, or as a whole to users and developers.

 


CAPITAL MARKETS

 

TEXAS

AUSTIN

  • Cardinal Group Investments LLC and Fundamental Advisors LP obtained $9 million in financing for Century Square Apartments, a 138-unit, student housing community at 3401 Red River Rd. near University of Texas in Austin. Proceeds from the 10-year, fixed-rate Fannie Mae loan were used to buy the asset. HFF arranged for the financing, with the team representing the borrower led by Pat Burger, Tim Wright, Doug Opalka and Husayn Hasan.

NEW BRAUNFELS

  • New Braunfels Guadalupe River Hotel LP secured $10 million in refinancing for the Courtyard by Marriott New Braunfels River Village at 750 Interstate 35 North. John Koeijmans and Andy Hill  with Berkadia Commercial Mortgage LLC represented the borrower in obtaining the 10-year loan.

 


EXECUTIVE MOVES

 

ARIZONA

PHOENIX

  • Eli Gilbert and Matt Kolano have joined Jones Lang LaSalle as Senior Research Manager as Research Analyst, respectively. Gilbert and Kolano are charged with increasing research and analytical support for the firm’s expanding line-up of Phoenix brokerage experts.

Gilbert was previously senior research analyst with Jones Lang LaSalle in San Diego. With his promotion,  Gilbert now divides his time equally between San Diego and Phoenix. Prior to joining Jones Lang LaSalle, Gilbert served in research roles with Grubb & Ellis, The CoStar Group and Cushman & Wakefield. He graduated cum laude with a bachelor’s degree in history from San Diego State University.

Kolano is a recent graduate of the W.P. Carey School of Business at Arizona State University, where he double-majored and graduated with honors with bachelor’s degrees in economics and finance. While at ASU, Kolano completed an intense entrepreneurship program at the Heller School of Management at the University of Arizona and served as consultant, strategist and intern at firms including On Semiconductor, the New Venture Group and InnovationSpace.

TEXAS

DALLAS

  • Edward C. Nash, Jr. and Don Bingaman joined Transwestern as senior vice president and vice president, respectively. Nash joins the firm from McLeodZei Commercial Real Estate Advisors. He received his BBA and MBA in finance and real estate from the McCombs School of Business at the University of Texas (UT). Bingaman joins Transwestern from Stonewall Partners LP. Previously he served at Grubb & Ellis, CBRE and Lincoln Property Co. Bingaman received a degree in finance from the Sam S. Walton School of Business at the University of Arkansas.
  • Geno Coradini has been promoted to the position of Retail Market Lead at Jones Lang LaSalle. Under the direction of Americas Retail President and CEO Greg Maloney, Coradini will oversee retail tenant representation and agency leasing brokerage services, as well as asset management services in markets throughout Texas, New Mexico, Oklahoma, Arkansas and Louisiana. Coradini joined the firm in 2008, shortly after Jones Lang LaSalle acquired The Standard Group.  Prior to joining Jones Lang LaSalle he was a managing director at FedEx Kinko’s and a divisional vice president with Family Dollar Stores.