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

Governor Daniel Tarullo recently announced his resignation from the Board of Governors of the Federal Reserve, effective in early April. With two positions already vacant, President Trump now has the opportunity to fill three of the board's seven seats, making his mark on the central bank, says Marcus & Millichap's recent report. Additionally, the president will have the chance to shake up Fed leadership next year when Janet  Yellen's tenure as chair expires in February 2018. The president can then either reappoint her or nominate a new head of the Federal Reserve.—Lisa Brown

NEWS AND NOTABLES

DALLAS—Elizabeth Bigler, a project engineer at McCarthy Building Companies Inc., was recently awarded TEXO's (The Construction Industry Association) 2016 Magnolia Award. The Magnolia Award annually recognizes outstanding women in construction who demonstrate excellence in job performance, commitment to education and demonstrate leadership in promoting a positive image for the construction industry. Recipients of the Magnolia Award act as role models for both the industry and their local community.

AUSTIN,TX—CBRE has promoted Stewart Geise to managing director of asset services for the company's Austin, San Antonio and El Paso markets. Geise will have oversight of 20 million square feet of office, industrial and retail properties, and 50 real estate management and engineering personnel. Originally from Austin, Stewart has worked at the company for nine years and most recently served as an Associate Director in CBRE's Houston office, where he managed a 3-million-square-foot office portfolio.

DEAL TRACKER

HOUSTON—Stan Johnson Company has announced the $15,000,000 sale of the BluePearl Portfolio, a two-property, 37,622 square foot medical portfolio located in Tampa, Florida and Houston. Joshua Pardue and his team were responsible for closing the transaction.  The seller was Lexington Realty Trust, a self-managed real estate investment trust (REIT) that owns and manages 215 commercial properties across 40 states. Broadstone Real Estate LLC, a full-service real estate company that manages commercial and residential properties across 37 states, was the acquirer.

LONE TREE, CO—Camden Property Trust has announced the opening of Camden Lincoln Station, an upscale, transit-oriented apartment community in a southern suburb of Denver. The new Camden Lincoln Station features studios, one- and two-bedroom luxury apartment homes with upscale amenities, conveniently located off Lincoln and I-25 in Lone Tree.  The city was named one of Denver's best suburbs to live by multiple-listing service, Movoto.

TEMPLE, TX—JLL announced the sale today of the Brentwood Apartments. RDO Properties LLC purchased the 128-unit garden-style multifamily asset from the Estate of Leonard Apt. Proceeds from the sale will be donated to the Jules Stein Eye Institute at UCLA's Department of Pediatric Ophthalmology. Managing director Scott LaMontagne and senior vice presidents Moses Siller and Zar Haro with JLL Capital Markets represented the seller.

AUSTIN, TX—St. Clair Commercial Realty has purchased seven buildings on Techni Center Dr. totaling 211,000 square feet. St. Clair intends the rebrand the park as the “Techni Center Business Park” and is underway with significant interior and exterior renovations. The park is centrally located with frontage on 183, with direct access to downtown and the airport. There is a range of units sizes ranging from 3,600 to 36,000 square feet with dock high and ground level loading and excess parking. All buildings are on separate parcels.

HOUSTON—The Association of Commercial Real Estate Professionals paired with Houston's Buffalo Bayou Partnership to launch spring cleaning, with organization members volunteering to clean and repair sections of the 160-acre park. An active organization dedicated to community stewardship, the association hosts numerous community service events each year. The professionals' group launched its 2017 philanthropy season in Houston, with 30-plus volunteers working alongside the recently revitalized Buffalo Bayou Park to restore greenscapes lining the waterway and bike trails.

HOUSTON—Quality Metals signed a 27,500-square-foot industrial sublease at Santa Fe Business Park, 7600 S. Santa Fe Dr. JLL's Travis Secor and Ryan Fuselier represented the subtenant in the transaction. Chase Spence and Trey Erwin of Colliers International represented the sublandlord, Lock Investments LLC.

HOUSTON—NAI Partners represented R. Pennington Investments LP in leasing 18,840 square feet of industrial space located at 6633 Lindbergh. Chris Caudill and Jake Wilkinson of NAI Partners represented the landlord, R Pennington Investments LP in the lease negotiations. The tenant is Wright Containers LLC.

SUGAR LAND, TX—NAI Partners represented Kerbow-Dees LP in brokering the sale of 50,700 square feet of industrial facility located at 12700 Wet Airport. Chris Caudill of NAI Partners represented the seller, Kerbow-Dees LP during the negotiations, while Vicki Yeomans represented the buyer, STGMJD LLC.

AUSTIN, TX—The Travis County Commissioners Court approved plans to develop a 2,200-acre master-planned community off Highway 71 and Paleface Ranch Road. Known as Thomas Ranch, the community will surround extensive shoreline along the Pedernales River, natural creeks and streams and have access to Lake Travis. Thomas Ranch will feature an ideal balance between the Texas Hill Country and Austin city life. Thomas Ranch will include approximately 3,300 homes with diverse housing choices from custom to cottage houses. The community will also include apartments, a marketplace of shops, entertainment venues and restaurants, a resort hotel and spa, a town square and community gardens. An extensive network of trails suitable for walking, jogging and hiking will connect the areas. Neighborhood streets will provide multiple points of convenient entry and exit that enhance access rather than feed to a single main entrance.

GRAND PRAIRIE, TX—CBRE facilitated the sale of Logistics Crossing I, a 667,635-square-foot industrial facility. Washington D.C.-based AFL-CIO Building Investment Trust, advised by PNC Realty Investors purchased the asset from Atlanta-based Robinson Weeks Partners for an undisclosed price. The industrial facility, located at 2305 W. Marshall Dr., is 100% leased to a top automotive manufacturer with eight years of remaining lease term. The asset features a 497-foot rail spur, 32-foot clear heights and a cross-dock configuration.

Governor Daniel Tarullo recently announced his resignation from the Board of Governors of the Federal Reserve, effective in early April. With two positions already vacant, President Trump now has the opportunity to fill three of the board's seven seats, making his mark on the central bank, says Marcus & Millichap's recent report. Additionally, the president will have the chance to shake up Fed leadership next year when Janet  Yellen's tenure as chair expires in February 2018. The president can then either reappoint her or nominate a new head of the Federal Reserve.—Lisa Brown

NEWS AND NOTABLES

DALLAS—Elizabeth Bigler, a project engineer at McCarthy Building Companies Inc., was recently awarded TEXO's (The Construction Industry Association) 2016 Magnolia Award. The Magnolia Award annually recognizes outstanding women in construction who demonstrate excellence in job performance, commitment to education and demonstrate leadership in promoting a positive image for the construction industry. Recipients of the Magnolia Award act as role models for both the industry and their local community.

AUSTIN,TX—CBRE has promoted Stewart Geise to managing director of asset services for the company's Austin, San Antonio and El Paso markets. Geise will have oversight of 20 million square feet of office, industrial and retail properties, and 50 real estate management and engineering personnel. Originally from Austin, Stewart has worked at the company for nine years and most recently served as an Associate Director in CBRE's Houston office, where he managed a 3-million-square-foot office portfolio.

DEAL TRACKER

HOUSTON—Stan Johnson Company has announced the $15,000,000 sale of the BluePearl Portfolio, a two-property, 37,622 square foot medical portfolio located in Tampa, Florida and Houston. Joshua Pardue and his team were responsible for closing the transaction.  The seller was Lexington Realty Trust, a self-managed real estate investment trust (REIT) that owns and manages 215 commercial properties across 40 states. Broadstone Real Estate LLC, a full-service real estate company that manages commercial and residential properties across 37 states, was the acquirer.

LONE TREE, CO—Camden Property Trust has announced the opening of Camden Lincoln Station, an upscale, transit-oriented apartment community in a southern suburb of Denver. The new Camden Lincoln Station features studios, one- and two-bedroom luxury apartment homes with upscale amenities, conveniently located off Lincoln and I-25 in Lone Tree.  The city was named one of Denver's best suburbs to live by multiple-listing service, Movoto.

TEMPLE, TX—JLL announced the sale today of the Brentwood Apartments. RDO Properties LLC purchased the 128-unit garden-style multifamily asset from the Estate of Leonard Apt. Proceeds from the sale will be donated to the Jules Stein Eye Institute at UCLA's Department of Pediatric Ophthalmology. Managing director Scott LaMontagne and senior vice presidents Moses Siller and Zar Haro with JLL Capital Markets represented the seller.

AUSTIN, TX—St. Clair Commercial Realty has purchased seven buildings on Techni Center Dr. totaling 211,000 square feet. St. Clair intends the rebrand the park as the “Techni Center Business Park” and is underway with significant interior and exterior renovations. The park is centrally located with frontage on 183, with direct access to downtown and the airport. There is a range of units sizes ranging from 3,600 to 36,000 square feet with dock high and ground level loading and excess parking. All buildings are on separate parcels.

HOUSTON—The Association of Commercial Real Estate Professionals paired with Houston's Buffalo Bayou Partnership to launch spring cleaning, with organization members volunteering to clean and repair sections of the 160-acre park. An active organization dedicated to community stewardship, the association hosts numerous community service events each year. The professionals' group launched its 2017 philanthropy season in Houston, with 30-plus volunteers working alongside the recently revitalized Buffalo Bayou Park to restore greenscapes lining the waterway and bike trails.

HOUSTON—Quality Metals signed a 27,500-square-foot industrial sublease at Santa Fe Business Park, 7600 S. Santa Fe Dr. JLL's Travis Secor and Ryan Fuselier represented the subtenant in the transaction. Chase Spence and Trey Erwin of Colliers International represented the sublandlord, Lock Investments LLC.

HOUSTON—NAI Partners represented R. Pennington Investments LP in leasing 18,840 square feet of industrial space located at 6633 Lindbergh. Chris Caudill and Jake Wilkinson of NAI Partners represented the landlord, R Pennington Investments LP in the lease negotiations. The tenant is Wright Containers LLC.

SUGAR LAND, TX—NAI Partners represented Kerbow-Dees LP in brokering the sale of 50,700 square feet of industrial facility located at 12700 Wet Airport. Chris Caudill of NAI Partners represented the seller, Kerbow-Dees LP during the negotiations, while Vicki Yeomans represented the buyer, STGMJD LLC.

AUSTIN, TX—The Travis County Commissioners Court approved plans to develop a 2,200-acre master-planned community off Highway 71 and Paleface Ranch Road. Known as Thomas Ranch, the community will surround extensive shoreline along the Pedernales River, natural creeks and streams and have access to Lake Travis. Thomas Ranch will feature an ideal balance between the Texas Hill Country and Austin city life. Thomas Ranch will include approximately 3,300 homes with diverse housing choices from custom to cottage houses. The community will also include apartments, a marketplace of shops, entertainment venues and restaurants, a resort hotel and spa, a town square and community gardens. An extensive network of trails suitable for walking, jogging and hiking will connect the areas. Neighborhood streets will provide multiple points of convenient entry and exit that enhance access rather than feed to a single main entrance.

GRAND PRAIRIE, TX—CBRE facilitated the sale of Logistics Crossing I, a 667,635-square-foot industrial facility. Washington D.C.-based AFL-CIO Building Investment Trust, advised by PNC Realty Investors purchased the asset from Atlanta-based Robinson Weeks Partners for an undisclosed price. The industrial facility, located at 2305 W. Marshall Dr., is 100% leased to a top automotive manufacturer with eight years of remaining lease term. The asset features a 497-foot rail spur, 32-foot clear heights and a cross-dock configuration.