After nine years of positive economic growth, the thought of a downturn is on everyone's minds but the question is when? This notion can be found in the third quarter office report by CBRE. Following a slower performance during the second quarter, the DFW office market has bounced back with stronger market fundamentals during the past quarter. For the last two years, the metroplex has been breaking records, including construction levels, higher rents and 30 consecutive quarters of positive absorption. With performance indicators such as these, the leasing cycle is expected to cool with any overall US economic downturn during the next couple of years.—Lisa Brown

NEWS AND NOTABLES

DALLAS—Walker & Dunlop Inc. has hired Chris Harris as senior vice president in its capital markets group. Based out of the Dallas office, Harris is primarily responsible for nationwide structured finance and equity placement.

HOUSTON—CBRE announced the addition of three retail services professionals to its Houston operations. Sydney Dixon, Lacee Jacobs and Sasha Levine bring a wide range of occupier and investor leasing experience to the team. Dixon joins CBRE from Waterman Steele Real Estate Advisors, where she focused on tenant representation for regional and national tenants. She brings an extensive background working with landlords on project leasing and foreclosure dispositions. Jacobs brings significant experience with class-A mixed-use product, specifically within the restaurant and retail industry. She joins CBRE from Edge Realty Partners, where she worked on both project leasing and tenant representation. Levine rejoins CBRE and will specialize in landlord and tenant representation. Her principle focus in landlord representation is specialty retail and adaptive reuse within the urban core. Levine was formerly with M2G Ventures.

HOUSTON—Parc at Midtown, Surge Homes' multi-phased mix of condominium concepts, has been selected as a finalist for a 2017 National Association of Home Builders award in the category of best condominium community. Winners will be announced during an awards luncheon on January 9, 2018 during the International Builders Show in Orlando.

HOUSTON—Metropolis Investment Holdings Inc. and Transwestern announced artist J Muzacz will host a live artist experience in the Pennzoil Place lobby from November 6 to 10, 2017. Muzacz will paint a 3-D mural in the lobby at 711 Louisiana St., viewable on a streaming video feed. Open to the public, this event will be the first of several live artist experiences held at the building. Transwestern is currently providing leasing and managing services for the building.

DEAL TRACKER

AUSTIN, TX—Academy Mortgage leased 2,079 rentable square feet at Chase Northcross, located at 7600 Burnet Rd. The landlord was represented by Jason Steinberg and Rebecca Zigterman with ECR and the tenant was represented by Tom Rhea with Peloton Commercial Real Estate.

COLORADO SPRINGS, CO—KeyBank Real Estate Capital secured a $36 million Freddie Mac first mortgage loan for Encore at Woodmen Ridge. Built in 2014, the 260-unit multifamily property is comprised of 13 three-story apartment buildings situated on 12.5 acres of land. Chris Black and Caleb Marten of Key's national multifamily accounts group arranged the acquisition financing with a 10-year term, five-year interest only period and 30-year amortization schedule.

DALLAS—JLL negotiated a new office lease on behalf of DerbySoft Inc. The hospitality software company will be relocating its North American office from Frisco to a new 6,760-square-foot office at 1800 Landmark Blvd. JLL managing director Steve Thelen negotiated the lease on behalf of the tenant. Sunwest Real Estate Group's Tabitha Layne represented the owner, 14800 Landmark LLC.

DALLAS—Boxer Property has concluded lease negotiations with Arizona College for 24,065 square feet of office space at 8330 Lyndon B. Johnson Fwy. Alexander Renwick negotiated the lease on behalf of Boxer Property. Jeff Woolf and Jerry Cobb Jr. of CBRE represented the tenant.

IRVING, TX—The Women's Business Council-Southwest announced that after 17 years in Arlington, it made the strategic decision to relocate its offices to Las Colinas. The organization's new regional headquarters will be in the MacArthur Center II building, suite 220, at 5605 North MacArthur Blvd. after its move in early December. WBCS was represented in this transaction by Eliza Solender of Solender/Hall. The landlord was represented by Matt Hurlbut of Transwestern. The long-term lease is for 4,242 square feet.

ODESSA, TX—The Woodmont Company has completed the sale of a freestanding 24,000-square-foot retail building located at 5161 E. 42nd St. to Altitude Trampoline Park. The building was formerly occupied by Staples. Gal Avneri of The Woodmont Company represented the seller, RW Odessa Holdings LP. Joseph Williams of The Woodmont Company represented Altitude Trampoline Park.

SAN ANTONIO—Institutional Property Advisors/IPA, a division of Marcus & Millichap, announces the sale of The Quarry Luxury Townhomes, a 150-unit multifamily property. Will Balthrope, Drew Kile and Jordan Featherston represented the seller and procured the buyer, San Francisco-based Hamilton Zanze.

NEWS AND NOTABLES

DEAL TRACKER

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