Developers Obtain $27M Refi for Multifamily Property

ROUND ROCK, TX-Close to five years after beginning construction on the 384-unit City North at Sunrise Ranch, the joint venture developer has obtained $27 million in refinancing on the multifamily property. Partners McShane Development Co. and Arsenal Real Estate, with help from Holiday Fenoglio Fowler LP, paced a seven-year, floating-rate cap loan (including a third-party interest rate cap) from Freddie Mac, with HFF servicing the loan through Freddie Mac's Program Plus Seller/Servicer Program. The HFF team securing the loan was led by senior managing director Douglas Opalka and included director Charles Halladay and associate director Robert Wooten.

McShane and Arsenal broke ground on City North at Sunrise Ranch in 2007, which was designed by Hensley Lambkin Rachel Inc. The project was completed in 2009. Located at 2800 Sunrise Rd. (approximately 20 miles north of downtown Austin), the 93%-leased property has 19 buildings and offers one-, two- and three-bedroom units averaging 949 square feet.  Alliance Residential Co. is handling leasing and management of the class A property.

ACQUISITIONS/DISPOSITIONS

FRISCO, TX

• First National Bank of Omaha sold 23,735 square feet and 1.92 acres at Preston and Wade Roads to Caliber Bodyworks of Texas Inc. Steve Ewing and Brian Waxler with Edge Realty Partners represented the seller. Daniel Taylor with CBRE represented the buyer.

GRAND PRAIRIE, TX

• Gorman-Rupp Co. purchased 20,000 square feet of industrial space at 2345 W. Warrior Trail. Brad Struck and Jim Hazard with Transwestern represented the seller.

HOUSTON

• PEJ Real Estate LLC acquired 2.79 acres on the east side of Mosely Road from Gulf Freeway Plaza LLC. John F. Littman, B. Kelley Parker, III, Coe Parker and Tim M. Thomas with Cushman & Wakefield of Texas Inc. represented the buyer in the negotiations

LUBBOCK, TX

• Hawaii-based Lubbock HPI LP sold a 30,000-square-foot retail property, once the site of a Best Buy, at 5916 W. Loop 289. Jeff Conover with Faris Lee Investments represented the seller and the buyer, Cole BB Lubbock TX LLC in the $5.7 million sale.

MESQUITE, TX

• New Big Town Associates sold 1500 Big Town Shopping Center on 74.94 acres to an undisclosed investor. Dave Anderson and Jeff Kittleson with CBRE represented the seller.

VICTORIA, TX

• BMV - Victoria Ltd. sold 13,964 square feet at 5108 Navarro St. to Samco. Stroud Arthur and Ryan Byrne with CBRE represented the seller.

LEASES

ADDISON, TX

• JPMorgan Chase Bank renewed its 7.374-square-foot lease at Parkway Plaza II.  Bob Buell, Louis Weber and Rena Chappell of Fults Commercial Real Estate represented Merit Texas Properties, the landlord. Larry Denisoff of The Weitzman Group represented JPMorgan Chase.
• Dermalogica renewed 3,924 square feet at Quorum Place, 14901 Quorum Dr. Ramsey March and Ryan Evanich with Stream Realty Partners represented the landlord. 

CARROLLTON, TX

• Amtech Systems Inc. renewed 13,783 square feet of office/flex space in Midway Commons Building 1, 3410 Midcourt Rd. Susan Singer with Bradford Commercial Real Estate Services represented the landlord, CFS Midway Chenault. ICON Commercial represented the tenant.
• Peterson-Madison Associates renewed 1,247 square feet of office/flex space in Midway Commons Building 1, 3410 Midcourt Rd. Susan Singer with Bradford Commercial Real Estate Services represented the landlord, CFS Midway Chenault, in the direct deal.
• Waterfall Group LLC renewed 18,305 square feet of industrial space at 2140 Hutton Dr. Brian Pafford and Jason Miller with Bradford Commercial Real Estate Services represented the tenant. The landlord, Dring Air Conditioning & Heating LP, was represented by Jim Svidron with NAI Robert Lynn.

CONROE, TX

• Mauser USA expanded and extended its lease space for a total of 150,388 square feet of office/ warehouse space at 410 South Trade Center. Edward R. Bane and Jon L. Michael of NAI Houston handled the transaction on behalf of the landlord, Cobalt Industrial REIT II. Bob Berry of Jones Lang LaSalle represented the tenant.

GRAND PRAIRIE, TX

• Transtar Aircraft Interiors LLC renewed 7,938 square feet of flex industrial space in Westfork Center Building 8, 1515 Avenue S. Jim Ferris and Michael W. Spain with Bradford Commercial Real Estate Services represented the landlord, DCT Industrial Trust Inc., in the direct deal.

FARMERS BRANCH, TX

• Casing Scientific Corp. renewed 1,800 square feet of flex industrial space in Northway Plaza Business Center, 3210 Belt Line Rd. Brian Pafford and Jason Miller with Bradford Commercial Real Estate Services represented the landlord, CIVF 1-TX1W18 and TX1W19 LP, in the direct deal.
• Communication Experts Group Inc. signed a lease for 2,437 square feet at 1801 Royal Lane. Burson Holman, Hunter Lee and Clay Gilbert with CBRE represented the landlord, Westwood Business Park Ltd.
• TKO Telesystems LLC renewed 3,400 square feet of flex industrial space at 2270 Springlake Rd. Brian Pafford and Jason Miller with Bradford Commercial Real Estate Services represented the landlord, CIVF 1-TX1W18 and TX1W19 LP, in the direct deal.

FRISCO, TX

Hall Financial Group's Kim Butler, Tammy Nellis and Brad Gibson handled negotiations on behalf of owner and landlord Hall Financial Group.

• Bolinger & Hogue LLP renewed its lease for 2,816 square feet at 2595 Dallas Pkwy. Greg Whittington of Cresa Partners negotiated the lease on behalf of the tenant.
• Jordan, Houser & Flournoy LLP renewed its lease for 1,102 square feet at 2591 Dallas Pkwy.
• Maxim Management Group LLC signed a new lease at 2801 Network Blvd. Alexis Martinez of Stream Realty Partners negotiated the lease on behalf of the tenant.

GARLAND, TX

• SFMC LP expanded to and renewed its 4,271 square-foot-lease at the Chase Bank Building, 3200 Broadway Ave. Beaux Riley with SCM Real Estate Services represented the landlord in this transaction.

HOUSTON

• Alimak Hek Inc. signed a 24,700-square-foot lease at 12554 Highway 3. Justin Robinson and Matteson Hamilton of Stream Realty Partners represented landlord Ellington Trade Center. The tenant was represented by Neil Martin with Finial Group.
• American Gilsonite Co. leased 5,332 square feet of office space at 1717 St. James Place. Paul Coonrod, Adam Jackson and Philip Armes of Stream Realty Partners represented the landlord, BRI 1844 St. James LLC. Thomas McKenzie of UGL Services Equis Operations represented the tenant.
• BROS. Express LLC renewed 9.750 square feet at 3340-B Green Rd. Matteson Hamilton and Jeremy Lumbreras of Stream Realty Partners represented landlord Prologis IAH Logistics. The tenant was represented by Lane Guinn with JLM Commercial Advisors.
• CylTex LLC took down 19,627 square feet at 5969 S. Loop East. Matteson Hamilton and Jeremy Lumbreras of Stream Realty Partners represented landlord Southport Business Park. CylTex was represented by Patrick Rollins with CBRE.
• EPI Engineering, Inc. leased 6,664 square feet at the Younan Place building located at 9801 Westheimer Rd. Griff Jaggard and Derek Beck of Moody Rambin represented the building owner, YPI 9801 Westheimer LLC.  Joshua Brown with Jackson & Cooksey represented the tenant in negotiations.
• Lone Star Air Systems renewed 18,790 sqaure feet at 6100 West by Northwest Blvd. Justin Robinson and Matteson Hamilton of Stream Realty Partners represented the landlord. Lone Star Air Systems was represented by Joseph Smith with CBRE.
• Matteson Hamilton and Jeremy Lumbreras of Stream Realty Partners represented landlord Prologis IAH Logistics at 3340-C Greens Rd. in a 26,845-square-foot lease. Tenant Volcar Transportation LLC was represented by John Gilbert with Gilbert Commercial.
• Seal Fast Inc. leased a 20,000-square-foot building at 5732 Harvey Wilson. The landlord, 5732 Harvey Wilson LLC, was represented by Jon Ferruzzo and Chris Kugle of NAI Houston. Frank Onorato of Newmark Grubb Knight Frank represented the tenant.

LAREDO, TX

• San Antonio MTA LP leased 4,000 square feet at the southwest corner of Independence and Bob Bullock. Daniel Taylor with CBRE represented the tenant. Landlord San Isidro Southeast Loop Ltd. was represented by Barry Haydon with Durhman & Bassett Realty.

PLANO, TX

• LandAmerica American Title Co. leased 2,162 square feet at 7160 North Dallas Pkwy. Landlord KBS Legacy Town Center LLC was represented by Celeste Fowden, Dennis Barnes and Burson Holman with CBRE. The tenant broker was Erik Ozolins with Orion Realty Group.
• ServiceNow Inc. leased 2,965 square feet at 7160 North Dallas Pkwy. Mary Stoner with Colliers International represented the tenant. Dennis Barnes, Burson Holman and Celeste Fowden with CBRE represented the landlord, KBS II Legacy Town Center LLC.

STAFFORD TX

• Corrotherm International – USA LLC leased 46,410 square feet at 10225 Mula Rd. from Duke Realty LP. James E. Foreman and Louis “Beau” Kaleel of Cushman & Wakefield of Texas Inc. represented the tenant in the negotiations. Cory Driskill of Duke Realty represented the landlord

TEXARKANA, TX

Golds Texas Holdings Group Inc. leased 15,000 square feet at 2700 Richmond Rd. Daniel Taylor with CBRE represented the tenant. The landlord, John D. Raffaelli, was represented by Steve Raffaelli with ERA Raffaelli Realtors.

WAXAHACHIE, TX

• Bling, a specialty boutique featuring women's apparel and accessories, signed a 1,125-square-foot lease at the Rogers Hotel, 100 N. College St. Judy Nitzinger with SCM Real Estate Services represented the landlord in this transaction.

CAPITAL MARKETS

• Cencor Realty Services secured a $5 million refinancing for the 107,358-square-foot Pine Hollow Shopping Center at Interstate 45 and Loop 335 North. The 10-year, fixed-rate loan was secured through Aetna Life Insurance Co. Travis Anderson with Holliday Fenoglio Fowler LP led the team that secured the loan.

EXECUTIVE MOVES

AUSTIN

• Rhonda Toming was hired as managing director with Holliday Fenoglio Fowler LP.  Prior to joining HFF, Toming was an investment sales broker at Oxford Commercial, an affiliate of Cushman & Wakefield. She also worked with Fischer Financial and The Staubach Co.

HOUSTON

• Jennifer Dawson joined Transwestern as the firm's first national business writer. She is working with the company's marketing team, which manages brand awareness and collateral material. Dawson comes to Transwestern following a 21-year stint at the Houston Business Journal; 10 years of which were spent covering the real estate industry.
• Jodie J. Jiles joined Transwestern as director of business development, where he will develop client relationships and generate new business. Before joining Transwestern, Jiles was managing director with RBC Capital Markets.

PHOENIX

• Kelly Vickers of Alliance Residential was promoted to the company's newly created position of National Director of Sustainability. In that position, she is in charge of the company's Focus Green program, as well as its overall strategy for incorporating environmentally friendly initiatives among its 55,000 owned and managed units. Vickers was previously regional training director for Alliance in Northern California and the Pacific Northwest.