CUERO, TX- Aries Capital, working on behalf of sponsor Avalon LLC, has secured a $4.7 million loan for development of a 77-unit Holiday Inn Express within south Texas’ Eagle Ford Shale Area. The borrower received a construction loan with an 18-month, fixed rate term at 6% interest as well as a permanent loan with a five-year ARM at an interest rate of Wall Street prime, plus 2-1/2% with a floor of 6%.
The transaction was funded through an U.S. Small Business Administration 504 loan and the Community Development Council. “After sourcing 15-20 different lenders, we secured financing through an SBA lender in Louisiana,” says senior vice president Leonard Smith of Aries Capital’s Houston office. “The difficulty of this loan was due to the need to coordinate multiple involved parties and many moving parties. We were up to the challenge and able to secure the right lenders, handle their unique demands and timelines, work through franchise agreement issues, and ultimately deliver the financing the borrower needed.”
“In this particular instance Leonard not only had to find a lender willing to provide a loan for new construction, but once the lenders were sourced, he then also had to coordinate between SBA loan provider as well as the Community Development Council to ensure the requirements and deadlines were me,” adds the developer, Anil Verma of Avalon LLC
The hotel will service the growing Eagle Ford Shale area, a hydrocarbon producing formation of significant importance due to its capability of producing both gas and oil. With oil reserves estimated at 3 billion barrels and with potential output of 420,000 barrels a day, the Eagle Ford Shale area is a significant economic driver in Texas.
- A 14,400-square-foot retail center at 1124 E. McKellips Rd. sold for $1.2 million. Trent McCullough, Ryan Mojahed and Neil Sherman of Sperry Van Ness represented the seller.
- The 126-unit Desert View Apartments at 3030 E. Broadway Rd. sold for $5.8 million. Danny Lee and Neil Sherman with Sperry Van Ness brokered the transaction.
- Qamnet LLC acquired the 15,000-square-foot former Jerry’s Audio building at 600 E. Camelback Rd. from Paying Cash for Houses.com LLC. Chris Hollenbeck with Cassidy Turley represented the seller in the $955,000 transaction.
- Sienna Point Apartments LLC has purchased the Sienna Point Apartments, a 36-unit multifamily property at 2830 East Roosevelt St. for $770,000. The seller was Homes For America LLC. Brian Smuckler and Jeff Seaman with CBRE both the buyer and the seller.
- JMRS Rothko LLC purchased the 28-unit Rothko Apartments at 2108 South Rural Rd. for $1.8 million. The seller was Rothko House LLC. Brian Smuckler and Jeff Seaman of CBRE represented the buyer.
- CBRE’s Brian Smuckler and Jeff Seaman also negotiated the $1.3 million sale of the 36-unit Tempe Gardens at 121 East Broadway Rd. 36 LLC was the buyer; Tempe Real Estate and Capital Holdings LLC was the seller.
- EGS Real Estate, LLC purchased a 104,810-square-foot building at 3200-3220 E Avenue F. Clint Riley, Brad Struck and Jim Hazard with Transwestern represented the seller.
- The City of Austin acquired 67.1 acres at SH 183 and Bolm Road. Josh Hubka and Joyce Jane Weedman with NAI Austin represented the seller, Capitol Aggregates. The city plans to use the tract for recreational use with plans to develop athletic fields and use the frontage along the Colorado River for trails and playgrounds.
- Big Country Interests LLC acquired 6,100 square feet on 1.14 acres at 8228 East RL Thornton Fwy. Stroud Arthur and Ryan Byrne with CBRE represented the seller in the direct deal.
- Jackson-Ohland Partnership acquired 16,500 square feet at 5808 McCommas Blvd. from Blueluxe LLC. Marty Neilon and Jim Whitten with CBRE represented the seller in the direct deal.
- Luby’s Fuddruckers Restaurants LLC bought 2,500 square feet on approximately 2.5 acres at 2626 Howell St. Daniel Taylor and Rich Flaten with CBRE represented seller CPI Mortgage Investors LP. Kelly Hampton with Venture Commercial represented the buyer.
- Realty Capital Management LLC sold close to 3 acres on the northwest corner of Western Center Boulevard and North Riverside Drive to Riverside Memory Care LLC. RJ Development Services of Olympia, WA, is managing the development of the project for Riverside Memory Care and has plans to construct a 35,000 square foot memory-care community to be operated by Koelsch Senior Communities. The facility, to be called Riverside Inn at Fossil Creek Memory Care Community, is planned for approximately 68 beds and is anticipated to open June 2014.
- MadisonStonebridge Cotenancy sold 6.8 acres at McKinney Stonebridge Eldorado to SRP Medical Investments. Marty Neilon, Amy Nott and Jim Whitten with CBRE represented the seller. Neilon and Whitten also represented the buyer.
- Origami Owl expanded into 81,238 square feet at 10 Chandler off Interstate 10 and Chandler Boulevard. The successful custom jewelry business signed an 89-month lease and was represented by Mary Ridberg and Rommie Mojahed of Sperry Van Ness.
- Build a Bike leased 3,644 square feet of retail space at Union Hills Square, 8190 W. Union Hills Dr. Mary Ridberg and Rommie Mojahed with Sperry Van Ness represented the landlord.
- Sun State Estimating leased 2,493 square feet at 17215 N. 72nd Dr. Justin Horwitz and Nicole Ridberg with Sperry Van Ness represented the landlord.
- Boost Mobile leased 1,200 square feet at 32nd Street and Thomas Road the tenant was represented by Peter McQuaid, Greg Vanlerberghe and Erin Schrauth of Sperry Van Ness.
- Ideal Physical Therapy leased 1,975 square feet of office space at 333 E. Osborn Rd. Sperry Van Ness’ Justin Horwitz represented the tenant.
- Nationwide Financial Partners expanded to 13,489 square feet at Agave Corporate Center, 1711 West Greentree Dr. Brandon Leach and Peter Menna with Cassidy Turley represented the tenant in the renewal. Mark Gustin of Jones Lang LaSalle represented the landlord, Westport Capital Partners LLC.
- Scottsdale Medical Imaging Ltd. renewed 11,312 square feet at Mountain View Medical Center, 10599 North Tatum Blvd. Thomas Weinhold with Cassidy Turley represented landlord Mountain View Medical Center LLC in the renewal while Rich Andrus of Menlo Group represented the tenant.
- ABC Imaging leased 2,246 square feet at 16415 Addison Rd. Chase Lopez and Tyler Maner of Stream Realty Partners represented the tenant. The landlord was represented by Ryan Evanich, Beth Boyd, and Peter Butler, also with Stream Realty Partners.
- Knotts Spears Group signed a new 2,250 square feet lease at 631 Matlock Centre Circle. Christopher Mendez with SCM Real Estate Services represented the landlord in this transaction.
- Bank of America leased 36,608 square feet at 515 Congress Ave. Brad Philp and Lance Sallis with Stream Realty represented the landlord.
- Earthcore Industries LLC renewed 7,450 square feet at 2101 East St. Elmo Rd. Ace Schlameus with CBRE represented the landlord, KBS Realty Advisors.
- Gadgets Galore leased 1,030 square feet at TechRidge Center at 500 Canyon Ridge Dr. Stream Realty Partners’ Bryan Dabbs represented the landlord.
- Stream Realty’s Bryan Dabbs and Ryan Ridgeway represented the landlord of 13729 Research Blvd. in a 1,600-square-foot lease with Austin Rugs and a 1,050-square-foot lease with Lucky Spa.
Stream Realty Partners’ Brad Philp and Edvin Beasley represented the landlord in the following transactions:
- Hill Ducloux in a 3,437-square-foot lease at Wells Fargo Tower, 400 W. 15th St.
- Google in a 1,239-square-foot lease and Coventry in a 22,239-square-foot lease at Stonebridge Plaza, 9606 N. MoPac Expwy.
Stream Realty Partners’ Will Nichols and Sam Owen represented the landlords in the following transactions:
- ABM Building Services in a 3,600-square-foot lease at Southpark C, at 4211 Freidrich Lane.
- Lanvera Ltd. in a 12,845-square-foot lease at Burleson Road Business Park II, 4101 Smith School Rd.
- JDS Uniphase Corp. in a 2,831-squasre-foot lease at AmorRon 6, 800 Paloma Dr.
Stream Realty’s Ryan Ridgeway represented the landlords in the following transactions:
- Zig Wireless in a 1,348-square-foot lease and Capital City Printing in a 1,366-square-foot lease at Riverside Place, 2410 Riverside Dr.
- Kalology in a 745-square-foot lease at Shops at SoCo, 3801 S. Congress.
- Alton Lane Inc. leased 2,086 square feet at 2101 Cedar Springs Rd. Andrew Wiley with CBRE represented the tenant. Jack Gosnell and Ashley Allen with UCR represented the landlord, Rosewood Court LLC.
- Raymond James and Associates renewed 20,000 square feet at Trammell Crow Center, 2001 Ross Ave. Sarah Erickson, Tommy Nelson and Ramsey March of Stream Realty Partners represented the landlord. The tenant was represented by Jim Lob with UGL Equis.
- Zix Corp. renewed 42,000 square feet at the Tower at Cityplace, 2711 North Haskell Ave. Tommy Nelson, Jeff Schweitzer and Sarah Erickson of Stream Realty represented the landlord. David Weatherington with Colliers International represented the tenant.
- John P. O’Neill Enterprises Inc. leased 122,400 square feet at 2828 Trade Center Dr. Mike Cleary with CBRE represented the tenant. Adam Hammack and Steve Trese, also with CBRE, represented the landlord, PPF Industrial 2840 Commodore Dr LLC.
- MS International Inc. represented a 105,005-square-foot lease at 12845-12855 Valley Branch Lane. Adam Hammack and Steve Trese with CBRE represented the landlord, CIR III-1 REIT.
- TimCo Construction leased 3,064 square feet at 13617 Inwood Rd. Neal Puckett with CBRE represented the tenant. Peter Yates was the in-house representative for landlord Lincoln Inwood Plaza, Ltd.
- US Renal Care, Inc. leased 7,300 square feet of retail space at 4201 E. Berry St. Howard Watkins with Transwestern represented the tenant.
- Novus Health Services Inc. signed a new lease to expand its corporate headquarters to 7,750 square feet at 2595 Dallas Pkwy. at Hall Office Park. Landlord Hall Financial Group was represented internally by Kim Butler, Tammy Nellis and Brad Gibson. Michael Griffin of Transwestern represented the tenant in this transaction.
- Garland Independent School District leased 24,500 square feet of industrial space at 409 N. 1st St. Chris Stout and Joe Whitmer with Transwestern represented the landlord.
- Norandex Building Materials Distribution Inc. leased 25,921 square feet of warehouse space in Gateway East Business Center Building I, 4002 Miller Rd. from IAC North Dallas LLC. Susan Singer and Michael T. Grant with Bradford Commercial Real Estate Services represented the landlord. Matt Paul and Brian Sapp of Fischer & Co. represented the tenant.
Kacy Jones and Steve Koldyke with CBRE represented landlord TA Associates Realty in the following transactions:
- Jim Dandy Boxes Inc. in a 52,040-square-foot renewal at 1750 Westpark Dr. Donnie Rohde with Holt Lunsford Commercial represented the tenant.
- Palmer Distribution Services Inc. in a 52,812-square-foot lease at 2710 Regency Dr. Nathan Orbin with Jones Lang LaSalle represented the tenant.
- American Woodmark Corp. leased 14,850 square feet at 4814 North Sam Houston Pkwy. West. NAI Houston’s Darren O’Conor represented American Woodmark in the lease transaction. Matteson Hamilton and Justin Robinson of Stream Realty represented the landlord, FR/CAL Bammel LLC.
- Matrix Telecom, Inc. leased 18,508 square feet of office space at 433 East Las Colinas Blvd. Matt Hurlbut with Transwestern represented the landlord.
- Gander Mountain Co. leased 30,705 square feet at 3775 Childress. Jeff Kittleson and Daniel Taylor with CBRE represented the tenant. Bob Ginsburg and Amy Nott with CBRE represented the landlord, AMA Associates.
- Smile Brands of Texas leased 20,298 square feet of office space at 6501 Windcrest. Kim Brooks and Justin Miller with Transwestern represented the landlord.
- Woodtools of Texas, Ltd. leased 7,553 square feet at 601 W, Plano Pkwy. Jim Whitten and Marty Neilon with CBRE represented the tenant. Jeremy Cummings with Structure Commercial represented the landlord, 700 Alma Investments LLC.
Celeste Fowden, Dennis Barnes, and Burson Holman with CBRE represented landlord KBS III Legacy Town Center LLC in the following transactions:
- Chaiken & Chaiken PC in a 2,652-square-foot lease at 5801 Tennyson Pkwy. John Roper with CBRE represented the tenant.
- Global Media Outreach in a 9,197-square-foot lease at 7160 N. Dallas Pkwy. Sheryl Pickens and Brenda Ridnour with Pickens Ridnour represented the tenant.
- Octal Holding & Co. SAOC in a 7,699-square-foot lease at 5801 Tennyson Pkwy. Michelle Donaldson with CBRE represented the tenant.
- Circuitco Electronics LLC added 13,005 square feet to its 13,111 sf of warehouse space at 1380 Presidential Dr. Susan Singer with Bradford Commercial Real Estate Services represented the landlord, MP Acquiport Industrial LLC. Scott Jessen and Taylor Dickerson of Citadel Partners represented the tenant.
- Eligibility Consultants leased 13,000 square feet at 1111 Digital. Kendall Cramer and Tommy Nelson of Stream Realty Partners represented the landlord.
- Extend Health Inc. leased 116,843 square feet at 250 E Arapaho Rd. Mike Kay, Baron Aldrine, Pete Danna, Mike Cleary and Steve Rigby with CBRE represented the tenant. Landlord PPBC #2 LP was represented by Chuck Sellers and Lauren Perry with Peloton
Lindsey Tucker and Steve Thomas with CBRE represented landlord LSREF2 Windmill Reo (Eilan Land) LLC in the following transactions at 17806 Interstate 10:
- Health Care Service Corp. in an extension and expansion to 11,370 square feet.
- Howard Midstream Energy Partners LLC in an extension and expansion to 15,917 square feet. Dan Pollard with Jones Lang LaSalle represented the tenant.
- Keller Williams Realty extended its lease and expanded to 19,526 square feet at 10999 W. Interstate 10. Lindsey Tucker with CBRE represented landlord KBS Realty Advisors. Wendi Harrelson with Keller Williams Realty self-represented the tenant.
- Ram Tool & Supply renewed and expanded to 32,400 square feet at Lanark Distribution Center, 610 Lanark Dr. Jason Schnittger with Stream Realty Partners represented the landlord, Mayfield Properties in a direct deal with the tenant.
- AccentCare leased 6,964 square feet of office space at 4416 Twin City Blvd. Evonne Keene with Transwestern represented the tenant.
- Dallas MTA d/b/a Verizon Wireless renewed and expanded to 4,500 square feet at 8450 Denton Hwy. Daniel Taylor with CBRE represented the tenant. Bill Archer with Case Commercial represented the landlord, Coral Reef LLC.
- CBRE has been selected to market for sale a 42,750-square-foot, three-story medical/oncology facility at 4532 N. Mesa on the western side of El Paso, and is within six miles of 14 hospitals and ambulatory surgery centers. The vacant property is furnished with fixtures and equipment. Scott Herbold with CBRE’s Healthcare Capital Markets Group and William Caparis with CBRE El Paso are marketing the property on behalf of the seller.
- Trammell Crow Co. has hired Bryan Embrey as vice president of development management with its Austin Business Unit. Embrey will oversee the development and construction of real estate projects, including managing estimating, preconstruction services and construction management on the Block 1 Residential Tower at the Green Water Redevelopment. Embrey previously served as the operations director for Balfour Beatty Construction in Austin. He earned his Bachelor of Science degree in Construction Science from Texas A&M University.
- Robin Black has joined NAI Houston as marketing director. In her new role, Black will lead the execution of strategic marketing initiatives, brand development and will also engage in the firm’s social media platform. Black worked for CBRE for nearly eight years and primarily handled all media relations and communications for the company’s two Houston offices while assisting in the development, design and production of many of the firm’s marketing campaigns.
- Ron Tremble has joined Boxer Property’s San Antonio property management team, where he will oversee leasing and management of 3201 Cherry Ridge Dr. Tremble brings property management experience and is a recent Texas A&M graduate with a focus in finance and real estate.