Allstate Renews, Expands to 35,000 SF

MESA, AZ-Allstate Insurance Co. has opted to stay put at Mesa Corporate Center, signing a new lease that expands its space to 35,560 square feet. The insurance company will remain in its current digs at 1001 W. Southern Ave. for another eight years.

Matt Nebeker with Cassidy Turley Arizona's Office group represented the landlord, Parkway Properties, LP. The tenant was represented by James Robinson with Phoenix Realty Advisors. Built in 2000, Mesa Corporate Center is a 105,168-square-foot, two-story, class A office building on 8.27 acres.

ACQUISITIONS/DISPOSITIONS

ARIZONA

Phoenix

• 9841 Black Canyon LLC of Los Angeles purchased a 7,796-square-foot single-tenant restaurant building occupied by Fajitas.  The property is located at 9841 N. Black Canyon Hwy. Andrew Fosberg and Steve Fernandez with CBRE represented the buyer and the seller, First Financial Collateral Inc. of Carmel, IN in negotiating the $1.31 million sale. Fajitas restaurant will remain a tenant in the building on a long-term lease.

Queen Creek

• A recently completed IHOP restaurant at 20710 East Victoria Lane has changed hands, with the limited liability seller earning $2.6 million by selling the net-leased space to a personal trust. Mark Ruble and Jamie Medress with Marcus & Millichap Real Estate Investment Services brokered the transaction. The restaurant opened for business in January, with the lease guaranteed by franchisee Romulus, Inc.

TEXAS

Houston

• Quasar Land Ltd. purchased a 16-acre heavy industrial stabilized yard site with more than 94,000 square feet of office and warehouse space at 6800 Helmers St. The seller, Hanson Pipe & Products LLC, was represented by Blake Gibson of Colliers International.  Clay Pritchett of NAI Houston represented the buyer.

McKinney

• Irving, TX-based Realty Capital Management LLC has sold 3 acres on Hudson Crossing just south of Eldorado Parkway to real estate developer James Johnston.  The two parcels are adjacent to Eldorado Crossing Office Park and Johnston has plans to develop medical and professional office condominiums on the acreage. The seller was represented by Mark Boone with Realty Capital Management.

LEASING

TEXAS

Addison

• Shubert Packaging Systems LLC renewed 10,728 square at Addison Tech Center, 4505 Excel Pkwy. Josh Barnes and Mace McClatchy of Holt Lunsford Commercial represented the landlord, Copaken Brooks, and Louis Pascuzzi of Jackson Cooksey represented the tenant.

Arlington

• EZMONEY Loan Services renewed a 1,159-square-foot lease at Ascension Crossing, 1831 Brown Blvd. Darrel Higginbotham with SCM Real Estate Services represented the landlord in this transaction.
• MaxFrut signed a new 2,312-square-foot lease at Park Center Shopping Center, 1730 Randol Mill Rd. Christopher Mendez with SCM Real Estate Services represented the landlord in this transaction.
• School Excess Inc. leased 6,440 square feet of warehouse space at 801-31 S. Great Southwest Pkwy. from First Industrial Texas LP. Erik E. Blais with Bradford Commercial Real Estate Services, represented the tenant. Kacy Jones of CBRE represented the landlord.

Carrollton

• Abco Salon Services Inc. renewed 11,319 square feet of showroom/warehouse space at 3218 Belt Line Rd. Brian Pafford and Jason Miller of Bradford Commercial Real Estate Services represented the landlord, CIFV I-TX1W11 & TX1W17 LP. Greg Nelson of Lee & Associates represented the tenant.

Dallas

• Absolutelythin.com leased 2,117 square feet of office space in Danari Office Building I, 15150 Preston Rd. from ARI Preston LLC. Melanie Hughes and Sharon Friedberg with Bradford Commercial Real Estate Services represented the landlord in the direct deal.

Grapevine

Snap-on Tools signed a new 2,719-square-foot lease at Grapevine I, 3500 William D. Tate. Tenee Efimoff with SCM Real Estate Services represented the landlord in this transaction, and Colt Power with NAI Robert Lynn represented the tenant.

Houston

• Jack O'Boyle & Associates renewed 5,218 square feet at III Metro Square, 12200 Ford Rd. Evan Saks negotiated the lease on behalf of landlord Boxer Property and Michael D. McCoy with CRESA Dallas represented the tenant.

Griff Jaggard and Terri Torregrossa of Moody Rambin Interests represented landlord the Realty Associates Fund IX LP in the following negotiations at Norfolk Tower, 2211 Norfolk St.

• Hess, Hopkins leased 5,788 square feet. Ryan King with Moody Rambin represented the tenant in negotiations.
• Mental Health America - 5th renewed 5,882 square feet. Jay Kyle with Colliers International represented the tenant.

Terri Torregrossa of Moody Rambin Interests represented building owner, KWI Ashford Westchase Buildings LP in the following leases at Ashford Crossing II, 1880 S. Dairy Ashford.

• EXP Engineering International leased 5,381 square feet. Jon Silberman with NAI Houston represented the tenant in negotiations.
• Rolls Royce Commercial Marine renewed 11,124 square feet. David R. Byard with UGL Services - Equis Operations represented the tenant.

Missouri City

• Texas Dow Employees Credit Union leased 2,374 square feet in the Sienna Lakeside Professional Building , 5777 Sienna Pkwy.  Colliers International's Marshall Clinkscales of the Houston office represented the tenant, and Kolbe Curtice and Corbin Janssen of Colliers' Fort Bend office represented the landlord, Westport Holding Texas.

Plano

• Marquis Software Solutions Inc. took down 20,481 square feet of sublease space at Denbury Park II, 5160 Tennyson. Todd Noonan with Stream Realty Partners provided tenant representation, while Jeff Ellerman with CBRE represented the sublandlord, Denbury Resources Inc., in the transaction.

CAPITAL MARKETS

TEXAS

Dallas

• John Burke, senior vice president/managing director of NorthMarq's Houston regional office, arranged acquisition financing of $6.9 million for Casa Blanca Apartments, a 261-unit, market-rate multifamily property at 4503 & 4539 Lake Ave. Financing was based on a five-year interest-only term and was arranged for the borrower by NorthMarq through its relationship with a private investment fund.

Roanoke

• NorthMarq's Denver regional office arranged refinancing of $13.9M for Roanoke Crossing Shopping Center, 101 East Hwy. 114.  Northmarq'a John M. Stewart and Ilan Reissner arranged the financing for the national account borrower.

EXECUTIVE MOVES

TEXAS

Austin

• Ross Anders joined CBRE's local office as the director of project management. Anders joins CBRE with several notable projects under his belt including: the historic restoration of the State Capitol Dome and House of Representatives Chamber; St. Andrew's Dell Center for Fine Arts, St. Andrew's Lower School Chapel; Boy Scouts of America Capitol Area Council Fickett Training and Service Center; and St. Edward's University Dormitory and Parking Garage. Anders is also managing the completion of the new Austin Children's Museum at Mueller, and multiple Trail Foundation projects throughout the Butler Hike and Bike Trail at Lady Bird Lake. Prior to joining CBRE, Anders spent his last six years with HS&A Project Management in Austin. He graduated with a Bachelor of Science in Construction Engineering and Management from Purdue University.

Houston

• Liz Westcott-Brown has joined NAI Houston as an account manager, who will provide transactional support to Dan Boyles, Randy Wilhelm and Jason Whittington. Westcott-Brown has more than 20 years of commercial real estate experience. She attended Stephen F. Austin State University and the University of Houston.