The strength of top markets–including Midtown Manhattan and Dallas–was offset by significant negative absorption elsewhere. Out of the 87 office markets tracked by Cushman & Wakefield in the third quarter, 27 markets posted a combined total of 5.3 million square feet of negative absorption, a third more than the 3.4 million square feet of negative absorption recorded in the second quarter. Markets with significant square footage under construction include Dallas/Fort Worth with 6.3 million square feet. Indeed, building in DFW continues at a frenzied pace.—Lisa Brown

NEWS AND NOTABLES

AUSTIN, TX—More than 100 volunteers from the Real Estate Council of Austin convened at Sammy's House last month to renovate interior and exterior spaces at Saint Louise House, a local nonprofit organization that provides transitional housing and programs for homeless women and children. For more than six months, RECA's Christmas in October Committee developed detailed renovation plans, fundraised, and gathered the necessary tools and machinery for the big day. The committee successfully raised more than $126,000 in both monetary and in-kind donations for the project.

DALLAS—Westmount Realty Capital LLC, a Dallas-based commercial real estate development and investment management company, announced that Chris Burgy has joined the company as director– capital projects. In this role, Burgy will provide leadership and strategic direction for activities related to capital renovation projects at Westmount's properties.

HOUSTON—The Association of Commercial Real Estate Professionals connected more than 250 CRE professionals for its 29th annual commercial real estate golf classic, a benefit golf tournament raising proceeds for the ACRP Education Fund and Soaring Kidz. ACRP's golf tournament kicked off at Blackhorse Golf Club, with 60 teams lined up for a full day of golf on two golf courses.

DEAL TRACKER

AUSTIN, TX—NAI Partners Austin recently represented Mortgage Pros Inc. in a 1,518-square-foot office lease renewal at Park Centre 1 located at 8601 RR 2222. NAI Partners' Patrick Hill, office tenant rep specialist, represented the tenant, Mortgage Pros Inc., while Brandon Lester and Mike Brown with Transwestern represented landlord, KBS SOR Austin Suburban Portfolio LLC, during the negotiations.

AUSTIN, TX—Cleveland and Terrazas leased 1,344 square feet at the Hills Office Park located at 4611 Bee Caves Rd. The landlord was represented by Patrick Ley and Haley Berry Smith with ECR.

AUSTIN, TX—DoorDash leased 491 rentable square feet at Chase Northcross, located at 7600 Burnet Rd. The landlord was represented by Rebecca Zigterman and Jason Steinberg with ECR, and the tenant was represented by Graham Trull with The Kucera Companies.

AUSTIN, TX—Amerigroup leased 8,045 rentable square feet at 823 Congress in downtown. The building is currently under significant renovations. The landlord was represented by Matt Levin and Jason Steinberg with ECR and the tenant was represented by Liron Nelik with Savills Studley.

AUSTIN, TX—Founders Card leased 1,381 rentable square feet of office space at the Wells Fargo Building, located at 2028 E. Ben White Blvd. The tenant was represented by Matt Watson with Austin Office Space and the landlord was represented by Rebecca Zigterman, Jason Steinberg and Matt Levin with ECR.

DALLAS—Cognizant Technology Solutions US Corporation leased 48,277 square feet at 5001 Statesman Dr., suite 200. Tim O. Terrell and Mark Hayes with Stream Realty Partners represented the owner, Champion Partners. Ric Kanatzar with Savills Studley represented the tenant.

DALLAS—Nucor Corporation leased 31,043 square feet at 5001 Statesman Dr., suites 100 and 120. Tim O. Terrell and Mark Hayes with Stream Realty Partners represented the owner, Champion Partners.

DENVER—Investments made through the Enterprise Community Loan Fund's Impact Note were used to provide a 15-year loan of $2.45 million to the Denver Housing Authority, which will be used to build a 10-acre community solar garden that will provide enough electricity to serve more than 500 homes. It's the nation's first community solar project owned by a housing authority and the largest low-income community solar garden in Colorado.

DENVER—Transwestern brokered the sale of two Denver apartment communities totaling 148 units for a combined $23.22 million. Acquired by Warm Springs Holdings LLC for more than $10.82 million, Village West consists of 58 units built in 1972. The Village Apartments, with 90 units completed in 1973, was purchased by 29th Street Management for more than $12.4 million.

ENGLEWOOD, CO—CBRE facilitated the $60 million sale of the Oxford Station multifamily community located at 4101 South Navajo St. Dan Woodward, David Potarf and Matt Barnett with CBRE capital markets, Denver multifamily investment properties, represented the developer and seller, Littleton Capital Partners of Denver who partnered with Brue Baukol Capital Partners on the project. The buyer was Hamilton Zanze of San Francisco. Andrew Behrens, vice chairman with CBRE capital markets, debt and structured finance, in San Francisco arranged the financing for the purchase.

HOUSTON—NAI Partners recently represented Telephone Square LLC in a 2,100-square-foot lease for Dollar Depot located at 6300 Telephone Rd. NAI Partners' Jason Gaines and Chris Holder represented landlord, Telephone Square LLC, during the negotiations.

HOUSTON—NAI Partners' office project leasing team, part of the company's landlord services line of business, recently arranged a 4,848-square-foot office lease renewal at 12600 N Featherwood Dr. NAI Partners' Zach Leger and Jacob Aldridge represented Featherwood Holdings LLC, and Ryan Hartsell of Oxford Partners represented Abbott during the negotiations.

OKLAHOMA CITY—ARA, A Newmark Company announces the $64 million sale of Metropolitan, a new class-A infill community catering to the urban revitalization and 2018 streetcar expansion. The deal marked a record price per unit at $194,666 and 95% of Metropolitan's 329 apartments were leased at the time of sale. Senior managing directors Tim McKay, David Burnett and Brandon Lamb along with associate Justin Wilson represented Houston-based Bomasada Group in the sale to Weidner Apartment Homes.

Instant Insights /

Middle Market Digest: This Week in the South and Mountain Regions

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