Crockett Mortgage Acquires 26,000-SF Office Building

SHAVANO PARK, TX-Crockett Mortgage Leasing Affiliates LLC, a partnership between Crockett National Bank and Legacy Mutual Mortgage, acquired the 26,020-square-foot Shavano Oaks III. The class A office building will house the first Crocket National Bank in the San Antonio area and be headquarters of Legacy Mutual Mortgage.

Stream Realty Partners LP's senior vice president Jason Schnittger brokered the transaction for the office building, which is located at 3503 Paesanos Pkwy., approximately 12 miles south of the San Antonio CBD. Stream Realty has also been selected to provide leasing services for the building.

Crockett National Bank and Legacy Mutual Mortgage will occupy the first floor, while the second floor, measuring approximately 13,000 square feet, remains available for lease. Schnittger will lead leasing efforts for the property.

 “We are pleased to add Shavano Oaks III to our portfolio in San Antonio’s North Central submarket,” Schnittger said in a press release.  “We have seen strong leasing velocity along Paesanos Parkway and look forward to leasing the remaining space quickly.”

Shavano Oaks III, developed by MH Commercial Properties, was acquired in 2010 while still under construction by Onair Development LLC of Austin. Now a class A office building, it originally came online as a medical office building.

Meanwhile, Stream has also been busy in Austin. Yodle, a leader in local online marketing, has signed a 97,153-square-foot lease in the Stream owned-and-managed Plaza 35, an office building in the North Austin submarket. Yodle will move into the 185,833-square-foot asset at 12234 N. Interstate 35 in September 2012, bringing the office building to 100% occupancy. Yodle, which is headquartered in New York, will bring 800 employees to its new space, 500 of which will represent new jobs.

Stream purchased the asset from CIII Asset Management in April 2011. Daniel Farrar and Kevin Granger with Stream represented the landlord in the leasing transaction. Commercial Texas and UGL Equis provided tenant representation for Yodle in the transaction.

ACQUISITIONS/DISPOSITIONS

ARLINGTON, TX

• Higher Education Servicing Corp. acquired a 19,870-square-foot office building located at 4381 W. Green Oaks Blvd. Beaux Riley with SCM Real Estate Services represented the seller in this transaction. Renee Efimoff with SCM represented the buyer. SCM Real Estate will retain the leasing responsibilities and is also executing property management duties for the building.
• JT Timberlake Ltd. purchased 54,000 square feet of industrial space at 1800 Timberlake Dr. Jim Hazard and Brad Struck with Transwestern represented the buyer.

AVONDALE, AZ

• Graham Real Estate Two LLC from Tacoma, WA acquired a 1,947-square-foot Jiffy Lube at 115 E. Van Buren St. Jeff Conover with Faris Lee Investments represented the seller, Los Angeles-based Camden Holdings. The all-cash buyer was represented by Steve Brown of Lake Chelan Real Estate.

CARROLLTON, TX

• Bolla Investments sold an approximately 15,000-square-foot building at 1454 Halsey Way to Viva Railings, which will use its new purchase to expand its headquarters. Jim Turano with Henry S. Miller Brokerage represented Bolla Investments; Henry S. Miller's Mark Hull represented the buyer.

DALLAS

• Rylie Family Faith Academy Inc. purchased 8,224 square feet of office space at 8225 Bruton Rd. Mark Daily with Transwestern represented the seller.

FORT WORTH

• Foch Street Partners LLC purchased 12,000 square feet of industrial space at 2732 Weisenberger. Jack Huff and Kyle Poulson with Transwestern represented the buyer.
• JDFIU Hogan Building LLC purchased 27,604 square feet of office/retail space at Hogan Building, 901 Houston St. Bill Behr with Transwestern represented the seller.

HURST, TX

• QREXCO purchased 27,007 square feet of land at Precinct Line and Airport Freeway. Lester Day with Transwestern represented the seller.

IRVING, TX

• RGB Systems Inc. purchased 4200 N. Beltline Rd. a 16,975-square-foot office building. Transwestern's Matt Hurlbut represented the seller.

LEWISVILLE, TX

• Christian Community Action sold five acres on South Kealy Street.  Russ Webb with Silver Oak Commercial Realty represented the seller.  Robert Maxey with Metro Commercial Properties represented the buyer – Centurion Acquisitions LP.

PHOENIX

• Fullerton, CA-based D.E.E. Holdings LLC sold a 3,078-square-foot Circle K Gas & Convenience store at 1901 W. Cactus Rd. to a family trust from La Jolla, CA. Chris Maling and David Maling with Colliers International represented the seller. The buyer was represented by Jon Boland of Voit Real Estate Services.
• JMRS Investments LLC of La Jolla, CA purchased Ritz Towers, a 14-unit multi-family property at 328 E. Willetta St. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented the buyer and the seller, Impero Ritz LP of Novato, CA, in structuring the $595,000 sales transaction.   

LEASES

ARLINGTON, TX

• Durbin Family Practice, tenant at Arlington Oaks Office Park (319 Osler Dr.), renewed and expanded to 4,200 square feet. Theron Bryant with SCM Real Estate represented the landlord in the transaction.
• SAFY/Specialized Alternatives for Families and You leased 5,180 square feet of office space at 1200 E. Copeland Rd. Nathan Rylandert with Transwestern represented the tenant.

COPPELL, TX

• UPS Supply Chain Solutions, Inc. leased 42,750 square feet of industrial space at 112 Wrangler Dr.
• Sharon Morrison with Transwestern represented the tenant.

FARMERS BRANCH, TX

• Digital Pressworx LLC renewed 6,507 square feet of flex industrial space in Valwood Business Center 1, 1313 Valwood Pkwy. Brian Pafford and Jason Miller with Bradford Commercial Real Estate Services represented the landlord, CIVF- 1-TX1W11-TX1W17 LP. Adam Graham of Lee & Associates DFW represented the tenant.
• Dynatron Software Inc. renewed 5,982 square feet of flex industrial space in Valwood Business Center 2, 1321 Valwood Pkwy. Brian Pafford and Jason Miller  with Bradford Commercial Real Estate Services represented the landlord, CIVF- 1-TX1W11-TX1W17 LP, in the direct deal.
• Controlled Products Systems Group Inc. leased 4,426 square feet of flex industrial space in Royal Park Tech 2, 2290 Springlake Rd. Brian Pafford, Jason Miller  and Shawn Hall with Bradford Commercial Real Estate Services represented the landlord, CIVF- 1-TX1W11-TX1W17 LP. Billy Gannon of Cushman & Wakefield of Texas Inc. represented the tenant.
• Cox Air-Conditioning & Heating Inc. renewed 3,507 square feet of flex industrial space in Northway Plaza Business Park, 3214 Belt Line Rd. Brian Pafford and Jason Miller  wtih Bradford Commercial Real Estate Services represented the landlord, CIVF- 1-TX1W11-TX1W17 LP, in the direct deal.
• Northstar Ceramic Trading LLC leased 3,341 square feet of flex industrial space at 14540 E. Beltwood Pkwy. Jason Miller  and Shawn Hall with Bradford Commercial Real Estate Services represented the landlord, Maxim Integrated Products, in the direct deal.

DALLAS

• Ivy Press Inc. expanded to 10,031 square feet of industrial space at 1162 Quaker. Robert Deptula, Nora Hogan and Natalie Snyder with Transwestern represented the tenant.
• Higher Ed Holdings leased 32,473 square feet of flex space at 160 Continental Ave. Sanders Thompson with Transwestern represented the tenant.
• Marcus & Millichap Real Estate Investment Services leased 10,205 square feet of office space at Providence Towers, 5001 Spring Valley. Scott Walker, Kim Brooks and Justin Miller with Transwestern represented the landlord.
• PCMC Inc. leased 43,571 square feet at Centrum, 3102 Oak Lawn Dr. Duane Henley and Justin Miller with Transwestern represented the landlord.

DENTON, TX

• Vision Works of America Inc. leased 5,126 square feet of retail space in Denton Town Center, 2215 S. Loop 288. Larry Jordan, Steve Williamson and Ben Witten with Transwestern represented the landlord.

HOUSTON

• British Schools of America leased 2,506 square feet at 9601 Katy Freeway. D.A. Smith with Briarhollow Realty Group represented the landlord, Briarhollow LLC. Gloria Parrino with Betz Commercial Inc. represented the tenant.
• Texas Dow Employees Credit Union expanded from 2,000 square feet to 10,000 square feet at Marathon Oil Tower, 5555 San Felipe St. TDECU was represented by Greg Cizak and Edward Edson of Colliers Appelt Womack Inc. while landlord Hanover Real Estate Partners was represented by John Pruitt and Jessica Ochoa of CBRE.

IRVING, TX

• iServe Servicing Inc. leased 11,951 square feet of office space at 222 W Las Colinas Blvd. Robert Deptula, Nora Hogan and Natalie Snyder with Transwestern represented the tenant.

KATY, TX

• Fidelity Brokerage Services LLC leased 4,800 square feet at 23233 Cinco Ranch Blvd. The landlord, Dirk D. Laukien, was represented by Steve Sim and Sean Quinn of Black Forest Ventures LLC. Marshall Clinkscales of Colliers International represented Fidelity Brokerage Services LLC in the transaction.

MANSFIELD, TX

• Napoli's Pizza and Fresh Pasta, LLC leased 5,621 square feet of retail space at 2300 Matlock Rd. John Jinks with Transwestern represented the landlord.

PLANO, TX

• Weight Watchers of North America, Inc. leased a 1,800-square-foot space at Willow Bend Market, 5960-5976 W. Parker Rd. Mark Newman and Jack Burgher with SRS Real Estate Partners represented Weight Watchers of North America, Inc. in the transaction.  Michelle Caplan and Earl Harris with Weitzman Group represented the landlord, Willow Bend Market Ltd.

CAPITAL MARKET NEWS

OKLAHOMA CITY

• Dallas, Texas-based Metropolitan Capital Advisors arranged a $17,6 million, 30-year fixed-rate mortgage at a 4.91% interest rate for the DSB Portfolio. DSB is a collection of sixteen (16) industrial properties comprised of 504,150 square feet of industrial/flex space located throughout the Oklahoma City SMSA. MCA's Todd McNeill and Sunny Sajnani arranged financing with a CMBS Conduit.

EXECUTIVE MOVES

AUSTIN

• Joseph G. Llamas was promoted to vice president at McShane Development Co. Llamas joined McShane Development Company in 2004 as a development manager headquartered in the firm’s corporate office near Chicago.   He subsequently earned a promotion to senior development manager and relocated to McShane Development’s Austin office.

DALLAS/FORT WORTH

• Jones Lang LaSalle announced the following promotions:
• Chris Beavers to Vice President – Project and Development Services
• Adam Bernhardt to Vice President – Property Management
• Jonathan Carrier to Vice President – Project and Development  Services
• George Curry to Senior Vice President – Industrial
• Brittany Dingle to Manager – Public Relations
• Jeff Eckert to Managing Director – Agency Leasing
• Juan Escudero to Senior Vice President – Corporate Solutions
• James Esquivel to Executive Vice President – Agency Leasing
• Louis Erskine to Vice President – Property Management
• Michael Haggar to Vice President – Industrial
• Curt Holcomb to Executive Vice President – Data Center Solutions
• Charles Lasley to Vice President – Property Management
• Shawna Martin to Director – IT
• Julie Miller to Senior Associate – Business and Economic Incentives
• Daryl Mullin to Executive Vice President – Agency Leasing
• Fred Noblett to Senior Project Manager Project and Development Services
• LeeAnn Ridley to Associate – Marketing
• Matt Samler to Senior Associate – Business and Economic Incentives
• Linda Smalley to Senior Vice President – Marketing
• Andrew Taguwa to Managing Director – Markets Corporate Solutions