Middle Market Digest: This Week in the South and Mountain Regions

Rising inflation, driven by strong gains in oil prices, pushed CPI up 2.5% during the past year, according to Marcus & Millichap. The ascending inflation bolsters the case for the Federal Reserve to move towards normalizing interest rates, and it intends to hike rates three times in 2017.—Lisa Brown

NEWS AND NOTABLES

AUSTIN, TX—Todd Marney has signed on as vice president of portfolio management for Casoro Capital, a private equity firm which creates discretionary funds for investing in multifamily properties and developments. This key hire comes at a time of growth for both Casoro Capital and its parent company, The PPA Group.

DEAL TRACKER

AUSTIN, TX—Petco leased 13,108 square feet of anchor space in Center of the Hills, a community retail center located at 7010 W. SH-71, for a new location. Nash Frisbee and Britt Morrison with Weitzman handled negotiations for the landlord as project leasing agents for Center of the Hills. Roger Anderson with CBRE represented Petco.

DALLAS—Cushman & Wakefield has closed the sale of a 47,423-square-foot office building at 17120 Dallas Parkway. Beth Lambert, executive managing director, and Diego Arroyave, senior vice president, negotiated the off-market sale on behalf of the Loomis Agency and Carbon Cos. The sellers will continue to occupy the building as tenants. Represented by Bryan Marquis, the Dallas-based family office of Embrey Interests bought the asset as part of a 1031 exchange, after recently selling Park Creek Place in the Turtle Creek area of Dallas. Working on behalf of the new owner, Lambert and Arroyave secured a 10-year acquisition loan through a life insurance company.

DALLAS—CBRE announces Café Brazil's new Cedar Springs location is now open. The award-winning coffee house and restaurant relocated to 3851 Cedar Springs Rd. from its original 3847 Cedar Springs Rd. location. The new location is more than double in size, offers more parking in the back of the restaurant and features a patio that fronts on Cedar Springs. The interior of the new space has been completely remodeled. The new location is approximately 3,400 square feet, up from 1,600 square feet at the current location.

ENID, OK—CBRE announces the sale of Neilson Square, a 67,837-square-foot shopping center. Dallas-based Dunhill Partners Inc. purchased the asset for investment purposes from Louisville, CO-based IPS Neilson Square LLC for an undisclosed price. The neighborhood center, located at 3322-3518 West Owen K Garriott Rd., is 94% occupied and anchored by Staples and Old Navy.

HOUSTON—IHS Markit expanded and extended its office lease at 1401 Enclave. The company will occupy a total of approximately 90,000 square feet in the building. JLL's Russell Hodges and Chrissy Wilson represented the landlord, FCA Partners, in the transaction. Jay Kyle, Evan Djikas and Heather Reich of Colliers International represented the tenant.

BUILDING BLOCKS

DENVER—Legacy Partners in a joint venture with USAA Real Estate Company, announced the groundbreaking for the 2.3-acre luxury apartment development TriVista on Speer, previously Legacy on Speer. The seven-story 322-unit development, featuring one-, two- and three-bedroom units, is projected to reach completion by early 2019. It is in close proximity to Denver's Golden Triangle and downtown.

EL PASO, TX—Up to 50,000 square feet in phase I of a class-A medical office building is available for lease. This is the newest campus in West El Paso and is located adjacent to the new Tenet Hospital. The space is available at competitive lease rates and aggressive TI allowance. There are no use restrictions, which allows complete flexibility. The expected delivery is in second quarter 2018.

AUSTIN, TX—Sackman Enterprises has set an opening date of its 70 Rainey sales gallery on February 22. The event will feature a meet-and-greet with the renowned designer Mark Zeff, who conceived the luxury high-rise development's industrial-chic interiors.

Rising inflation, driven by strong gains in oil prices, pushed CPI up 2.5% during the past year, according to Marcus & Millichap. The ascending inflation bolsters the case for the Federal Reserve to move towards normalizing interest rates, and it intends to hike rates three times in 2017.—Lisa Brown

NEWS AND NOTABLES

AUSTIN, TX—Todd Marney has signed on as vice president of portfolio management for Casoro Capital, a private equity firm which creates discretionary funds for investing in multifamily properties and developments. This key hire comes at a time of growth for both Casoro Capital and its parent company, The PPA Group.

DEAL TRACKER

AUSTIN, TX—Petco leased 13,108 square feet of anchor space in Center of the Hills, a community retail center located at 7010 W. SH-71, for a new location. Nash Frisbee and Britt Morrison with Weitzman handled negotiations for the landlord as project leasing agents for Center of the Hills. Roger Anderson with CBRE represented Petco.

DALLAS—Cushman & Wakefield has closed the sale of a 47,423-square-foot office building at 17120 Dallas Parkway. Beth Lambert, executive managing director, and Diego Arroyave, senior vice president, negotiated the off-market sale on behalf of the Loomis Agency and Carbon Cos. The sellers will continue to occupy the building as tenants. Represented by Bryan Marquis, the Dallas-based family office of Embrey Interests bought the asset as part of a 1031 exchange, after recently selling Park Creek Place in the Turtle Creek area of Dallas. Working on behalf of the new owner, Lambert and Arroyave secured a 10-year acquisition loan through a life insurance company.

DALLAS—CBRE announces Café Brazil's new Cedar Springs location is now open. The award-winning coffee house and restaurant relocated to 3851 Cedar Springs Rd. from its original 3847 Cedar Springs Rd. location. The new location is more than double in size, offers more parking in the back of the restaurant and features a patio that fronts on Cedar Springs. The interior of the new space has been completely remodeled. The new location is approximately 3,400 square feet, up from 1,600 square feet at the current location.

ENID, OK—CBRE announces the sale of Neilson Square, a 67,837-square-foot shopping center. Dallas-based Dunhill Partners Inc. purchased the asset for investment purposes from Louisville, CO-based IPS Neilson Square LLC for an undisclosed price. The neighborhood center, located at 3322-3518 West Owen K Garriott Rd., is 94% occupied and anchored by Staples and Old Navy.

HOUSTON—IHS Markit expanded and extended its office lease at 1401 Enclave. The company will occupy a total of approximately 90,000 square feet in the building. JLL's Russell Hodges and Chrissy Wilson represented the landlord, FCA Partners, in the transaction. Jay Kyle, Evan Djikas and Heather Reich of Colliers International represented the tenant.

BUILDING BLOCKS

DENVER—Legacy Partners in a joint venture with USAA Real Estate Company, announced the groundbreaking for the 2.3-acre luxury apartment development TriVista on Speer, previously Legacy on Speer. The seven-story 322-unit development, featuring one-, two- and three-bedroom units, is projected to reach completion by early 2019. It is in close proximity to Denver's Golden Triangle and downtown.

EL PASO, TX—Up to 50,000 square feet in phase I of a class-A medical office building is available for lease. This is the newest campus in West El Paso and is located adjacent to the new Tenet Hospital. The space is available at competitive lease rates and aggressive TI allowance. There are no use restrictions, which allows complete flexibility. The expected delivery is in second quarter 2018.

AUSTIN, TX—Sackman Enterprises has set an opening date of its 70 Rainey sales gallery on February 22. The event will feature a meet-and-greet with the renowned designer Mark Zeff, who conceived the luxury high-rise development's industrial-chic interiors.