Here's a look at the trends, announcements and deals you may have missed at the mid-week point in Texas, New Mexico, Colorado, Oklahoma and Arkansas.

BY THE NUMBERS

HOUSTON—NAI Partners' NAI Partners Sublease Index is a monthly research report detailing the current state of the Houston office sublease market. The sublease index is a measurement of the amount of sublease space as a percentage of total available space. According to the most recent report, the sublease index dropped to 15%, continuing a thinning out of available sublease space in Houston that began in third quarter 2016. Available sublease space in the Houston office market continued to diminish in January, falling to 8.8 million square feet, on the heels of the 1 million square feet of sublease deals that took place throughout fourth quarter 2017, the highest quarterly tally ever recorded.

NEWS AND NOTABLES

DALLAS—NAI Robert Lynn announces that Colt Power, executive vice president in NAI Robert Lynn's Fort Worth office, has earned the Society of Industrial and Office Realtors (SIOR) and Certified Commercial Investment Member (CCIM) designations. At 28 years old, Power is one of the youngest brokers in Texas to earn his SIOR designation.

DALLAS—Following in the footsteps of his father who received the same award in 2001, Bill Cox was chosen to receive his profession's highest honor, the NTCAR's Stemmons Service Award. The annual recognition goes to a member of the North Texas Commercial Association of Real Estate who best exemplifies the highest standards of a commercial broker along with a demonstrated commitment to professional and community involvement. Cox was presented the award at a dinner held Jan. 25 at the Dallas Country Club.

DEAL TRACKER

AURORA, CO—Origin Investments, in partnership with Aegon Real Assets US, has completed the $72.175 million acquisition of Advenir at Saddle Rock, a 320-unit apartment complex in suburban Denver. This marks the first time Origin has partnered with Aegon in an investment. Michael D'Agostino, a director with Kiser Group, served as an intermediary, identifying Advenir for Origin's consideration. Josh Simon, Mark Erland and Matt Benson, all of HFF, identified and secured Aegon's positioning in this transaction. The multifamily asset is located at 22959 E. Smoky Hill Rd.

AUSTIN, TX—Software Global leased 873 rentable square feet of office space at Summit Point, located at 2512 S I-35. The landlord was represented by Jason Steinberg and Steve Pannes with ECR. Michael Scannell leased 214 RSF at 610 Brazos. The landlord was represented by Jason Steinberg and Steve Pannes with ECR.

AUSTIN, TX—Hyper Giant leased 8,722 rentable square feet at the Scarbrough Building, located at 522 Congress. The landlord was represented by Jason Steinberg and Matt Levin with ECR and the tenant was represented by Brian Butterfield with Cushman & Wakefield.

COLLEGE STATION, TX—Marcus & Millichap announced the sale of Brazos Moving and Storage, a 408 unit 60,550 net rentable-square-foot self-storage facility. Dave Knobler, first vice president investments in Marcus & Millichap's Houston office, and Charles “Chico” LeClaire, executive managing director investments in Marcus & Millichap's Denver, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer was secured by Knobler and LeClaire as well. Brazos Moving and Storage is located at 10099 State Highway 30.

CYPRESS, TX—Belvoir Real Estate Group LLC recently facilitated the purchase of 7702 Fry Rd., a 1,900-square-foot Starbucks retail property. The building was built in 2017, includes a new 10-year corporate net lease and sits on prime location near other new constructions and retail centers. Matthew Goldsby of Belvoir oversaw the transaction on behalf of DFS10 Investments LLC, in coordination with the seller's representation, Scott Crowle of Cushman Wakefield.

DALLAS—Robert Half has leased 13,000 square feet of office space at The Addison at 14951 N. Dallas Pkwy. JLL's Fiona Forkner and Brooke Armstrong represented the tenant. Holt Lunsford Commercial's Holden Lunsford and James Engels represented the landlord.

HOUSTON—NAI Partners recently arranged a 49,000-square-foot industrial lease located at 4514 Brittmoore. Travis Land, SIOR and Nick Peterson of NAI Partners represented the tenant, BiSN Oil Tools, during the negotiations. The landlord was represented by Stephen Kuper of Lee & Associates.

HOUSTON—Houston-based Baker Katz has completed a 10-year lease on behalf of Pet Supplies Plus. Baker Katz principal Jason Baker made the announcement. Located at the intersection of League City Parkway and Highway 270, the 6,000-square-foot Pet Supplies Plus will join notable tenants including Sherwin Williams. Lunden McGill with Baker Katz represented Pet Supplies Plus and Stephen Pheigaru of Hunington Properties Inc. represented the landlord.

HOUSTON—NAI Partners recently represented Greater Houston Community Foundation in an 18,463-square-foot office lease at 515 Post Oak Blvd. NAI Partners' Dan Boyles and Liz Westcott-Brown represented Greater Houston Community Foundation, while Richard Barbles represented the landlord, 515 Post Oak Owner LP during the negotiations.

HOUSTON—Avison Young facilitated the lease agreement between Quasar Galleria LTD and Giron Kirby Law Group PLLC of 3,325 square feet of office space located at 5433 Westheimer Rd. Avison Young represented the landlord, Quasar Galleria LTD in the transaction. It is a 65-month lease that is anticipated to commence June 1, 2018.

BUILDING BLOCKS

THE WOODLANDS, TX—The Howard Hughes Corporation recently broke ground on Lake Woodlands Crossing, a 62,565-square-foot retail center in The Woodlands Town Center, with approximately 65% of the center preleased. Lake Woodlands Crossing is located at the northeast intersection of Lake Woodlands Drive and Grogan's Mill Road.

Instant Insights /

Middle Market Digest: Mid-Week in the South and Mountain Regions

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