All property types are represented in this week's list of sales and leases. As the year winds down, many markets are ending the 12-month period on a high note, with retail adapting to the new normal, industrial responding to e-commerce demands, creative office taking hold in many areas and multifamily scrambling to keep up with it all.—Lisa Brown

DEAL TRACKER

AURORA, CO—Transwestern's Denver Capital Markets team closed the sale of Waterpark II and III, two class-A office properties at 2350–2550 S. Parker Rd. Transwestern managing directors Brad Cohen and Larry Thiel advised Matrix Group Inc., a Colorado-based investor, on the sale of the two properties totaling 210,848 square feet. Kaiser Permanente, which owns Waterpark I, acquired the remaining buildings for an undisclosed price. The sale of these two properties gives Kaiser Permanente full ownership of the Waterpark Campus.

AUSTIN, TX—Austin Shoe Hospital leased 3,600 square feet at 4811 Commercial Park Dr. The landlord was represented Ryan Wilson and Matt Fain with ECR.

AUSTIN, TX—VIP Staffing leased 1,529 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 David Ballard with REATA Real Estate.

AUSTIN, TX—Stratasys Direct, Inc. renewed their 33,178 rentable square feet of industrial space at Metric Building 6, located at 9715-A Burnet Rd. The tenant was represented by Lee Ellison with ECR.

DALLAS—CBRE Capital Markets' Investment Properties announces the sale of Magnolia on Gilbert, a 31-unit, urban in-fill multifamily community in the Oak Lawn/Turtle Creek submarket. Valley Park Associates LLC purchased the asset from 4020 Gilbert LLC for an undisclosed price. Chris Deuillet and Chandler Sims of CBRE's Dallas office represented the seller.

DENVER—Developer Q Factor and investor partner Clarion announced the opening of INDUSTRY RiNo Station in the River North (RiNo) District. The property, sister to INDUSTRY Denver located on Brighton Boulevard, is an adaptive reuse project comprised of creative office space, retail and restaurants in a former cold-storage warehouse at 38th and Walnut Street.

EDINBURG, TX—Vista de Palmas, a 96-unit multifamily property located at 1415 West Freddy Gonzalez Dr., has sold. Mike Moffitt Jr., first vice president investments in Marcus & Millichap's Austin office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured by Moffitt.

FORT WORTH—Three apartment communities in the Dallas/Fort Worth metroplex, including Casa, Nuestro Hogar and Casa Brendan have sold. The sales closed for more than $20 million after a brief marketing period. Al Silva, senior managing director investments, in Marcus & Millichap's Fort Worth office, along with the Affordable Housing Advisors of Marcus & Millichap out of Marcus & Millichap's Detroit office, had the exclusive listing to market the properties on behalf of the sellers, Catholic Charities of Fort Worth. The institutional buyers were also secured by Silva and the Affordable Housing Advisors. The properties are located in Fort Worth, Arlington and Stephenville respectively. Casa is 200 units and is situated just blocks from the West 7th development Fort Worth. Nuestro Hogar is 65 units and Casa Brendan is 86 units. The new owners plan to maintain the properties as affordable housing for area residents.

FRISCO, TX—CBRE announces the lease renewal and expansion for T-Mobile's regional headquarters at Duke Bridges II. T-Mobile will occupy the entire building, 158,135 square feet, after the 27,236 square-foot expansion at 7668 Warren Pkwy. The additional space will support the company's growing employee base. Duke Bridges II is a three-story class-A office building located off Warren Parkway and the Dallas North Tollway. The location provides tenants easy access to State Highway 121, the Dallas North Tollway and George Bush Turnpike (SH-190).

HOUSTON—Airswift renewed a 19,773-square-foot office lease at 3050 Post Oak Blvd. JLL's Louie Crapitto and Diana Bridger represented the tenant in the transaction. Parker Duffie and Jason Presley of CBRE represented the landlord, Sinopec USA Inc.

LAKEWOOD, CO—Commercial Real Estate Investor Cress Capital announced the recent off-market acquisition of Union Tower, a 210,000-square-foot office building from TA Realty–the firm from which Cress purchased Sandpointe, two office buildings totaling more than 300,000 square feet in Orange County, CA, in May 2017.

DEAL TRACKER

AUSTIN, TX—Austin Shoe Hospital leased 3,600 square feet at 4811 Commercial Park Dr. The landlord was represented Ryan Wilson and Matt Fain with ECR.

Instant Insights /

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