Optimism in the Dallas market continues as expansions, relocations and developments go gangbusters. Optimism is also an often-used phrase when discussing the energy sector. Business activity continued to increase in the fourth quarter, according to oil and gas executives responding to the Dallas Fed Energy Survey. The business activity index—the survey's broadest measure of conditions facing Eleventh District energy firms—rose to 40.1 from the third quarter's 26.7 reading. Several indicators expanded on a quarterly basis for the first time in 2016, including employment and production. Outlooks also improved, despite some skepticism about recent oil producer agreements.—Lisa Brown

NEWS AND NOTABLES

DENVER—Holliday Fenoglio Fowler LP has hired Peter Merrion as a director in its Denver office. Merrion will team up with Mark Katz, senior managing director and co-head of HFF's Denver office, to focus on office investment sale transactions in Denver and the Rocky Mountain region.

DALLAS—Pierson Retail Advisors and the Vitorino Group have entered into a definitive agreement for both firms to merge and combine operations. The new firm will be called Strive. The two commercial real estate firms are led by Jennifer Pierson and Jason Vitorino.

DEAL TRACKER

ALLEN, TX—Vestar has acquired Twin Creeks Marketplace, a 43,134-square foot grocery-anchored neighborhood center located at 1265 W. Exchange Pkwy. Developed in 2016, Twin Creeks Marketplace is situated on five acres at the intersection of W. Exchange Parkway and Alma Drive. The center is leased to several national and regional retailers including Sprouts Farmers Market, Verizon, Starbucks, Advancial Credit Union, Luxe Nails, Studio Smiles and ATI Physical Therapy. The property was developed by StreetLevel Investments in 2016. Brandon Beeson from EDGE Capital Markets brokered the deal on behalf of the seller, StreetLevel Investments.

AUSTIN, TX—Holliday Fenoglio Fowler LP has closed the sale of Quarry Oaks I and II, a two-building, class-A office complex totaling 292,421 square feet. HFF marketed the property on behalf of the seller, Principal Real Estate Investors, and procured the buyer, Goldman Sachs Asset Management Private Real Estate.

DALLAS—CBRE facilitated a retail lease in Dallas' coveted Preston Royal Village Shopping Center East on behalf of Eatzi's Market & Bakery. The expanding eatery's retail space will be approximately 5,400 square feet. The Dallas-based company, which has locations in Plano, Grapevine, Highland Park, Uptown/Oak Lawn and most recently Fort Worth (opening spring 2017), expects to open the new Dallas store located at 6025 Royal Ln. in early October 2017.

DALLAS—CBRE capital markets' debt and structured finance arranged financing for Royal Highlands Plaza, a 105,356-square-foot shopping center. CBRE worked on behalf of JAH Realty LP to obtain $10.3 million in loan proceeds to refinance the project. The 20-year fully amortizing loan has a fixed interest rate of 4.08%. The non-recourse loan was sourced through one of CBRE's correspondent life companies. Scott Lewis, Greg Greene and Matt Ballard with CBRE's Dallas office originated and secured the financing on behalf of the borrower.

FORT WORTH, TX—CBRE facilitated the sale of Mercantile Distribution Center 40. Austin-based Spraberry Interests LLC purchased the asset for investment purposes from Fort Worth-based Mercantile Partners LP for an undisclosed price. The distribution center is located at 4201 North Beach St., within one of Dallas/Fort Worth's premier business parks and less than one mile from Interstate 35 West. The 182,500-square-foot distribution center is 100% leased. KPS Global, a construction and installation company, is a major tenant.

MISSOURI CITY, TX—Marcus & Millichap facilitated the sale of a 96% occupied 91,569-square-foot portion of Sienna Village, a 225,000-square-foot grocery-anchored shopping center with retail and medical service-related tenants.

BUILDING BLOCKS

AUSTIN, TX—Transwestern facilitated the sale of a 15-acre site at Austin Presidio to David Weekley Homes for the construction of 180 homes. Austin Presidio is a 130-acre high-density, mixed-use project that will include more than 5 million square feet of commercial and residential development at total build-out. Steve Williamson, managing director at Transwestern, represented the owner, Las Vegas-based Diversified Real Estate Group, and the buyer, a partnership controlled by David Weekley Homes.

HOUSTON—NAI Partners represented the San Jacinto River & Rail Park in purchasing a 28.575-acre tract of undeveloped land adjoining the park on the Union Pacific Rail Line along Old Beaumont Highway. This land expansion is but one critical step in expanding the parks rail infrastructure ahead of its highly anticipated reactivation coming in summer 2017. Clay Pritchett of NAI Partners represented the Purchaser, San Jacinto River & Rail Park on the transaction. The seller was not represented in this transaction.

NEWS AND NOTABLES

DEAL TRACKER

BUILDING BLOCKS

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