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

Each week, numerous multifamily projects are built, sold or financed, and there are equally numerous demographics and living preferences shaping the multifamily sector. According to the US Census Bureau, the number of millennials surpassed baby boomers in 2015. As the largest generation, millennials will be a major force in future housing demand. Lifestyle choices among both groups, however, will ultimately determine living accommodations, with multifamily most likely to be the prime beneficiary, according to Koll Bond Rating Agency.—Lisa Brown

NEWS AND NOTABLES

DALLAS—Trammell Crow Company has promoted three people within the firm's Dallas-Ft. Worth Business Unit: Scott Kirchhoff, Conner Best and Mallory Mullen.

DEAL TRACKER

AUSTIN, TX—Identropy leased 1,872 rentable square feet of office space at Chase Northcross, located at 7600 Burnet Rd. The landlord was represented by Rebecca Zigterman and Jason Steinberg with ECR and the tenant was represented by Connor Greissing with Newmark Grubb Knight Frank.

AUSTIN, TX—Matt Fain represented the seller of 6012 W. William Cannon, a freestanding medical office in South Austin.

DALLAS—Dallas-based Falcon Realty Advisors has advised Halcyon Coffee Bar + Lounge on a five-year, 3,600-square foot lease for its first location in the concept's expansion to Dallas. Halcyon Coffee Bar + Lounge has officially opened at 2900 Greenville Ave., formerly the location of Cafe Brazil for the past 10 years. Michael Walters, President of Falcon's Restaurant & Entertainment Group, and Madison Partners' Jon Hetzel negotiated the deal.

DALLAS—Pavo Communications signed a new 4,866-square-foot lease at Republic Center. The landlord was represented by Kathy Permenter, Trae Anderson and Sarah Savage at Younger Partners.

GARLAND, TX—Almost 9,000 square feet of leases were inked across three deals at 3200 Broadway. Younger Partners' represented the landlord, EY Ventures. The landlord was represented by Trae Anderson, Sarah Savage and Carson Rice.  Among the leases: Yusen Logistics (Americas) Inc. leased 4,974 square feet, Sunrise Primary Care Services leased 2,902 square feet and Urban Asset Management leased 1,079 square feet.

HOUSTON—Vista Host Inc. renewed a 7,726-square-foot office lease at the Towers at Westchase I, 10370 Richmond Ave. JLL's Ed Prejean and Don King represented the tenant in the transaction. Ryan Bishop of Stream Realty represented the landlord, FSP Westchase LLC.

LUBBOCK, TX—NAI Partners represented the Hunton Family VII Ltd. Partnership in brokering the sale of 43,800 square feet of industrial office and warehouse space located at 6020 West 43rd St. Chris Caudill and Joel Michael, both of NAI Partners along with Wes Hallmark with Sperry Van Ness represented the seller, Hunton Family VII Ltd. during the negotiations, while Cindy Snell of Westar Commercial Realty LLC represented the buyer, Two Weeks Away LLC.

BUILDING BLOCKS

AUSTIN, TX—Oden Hughes and CWS Capital have broken ground on a 226-unit multifamily project on West Fifth Street just west of downtown that will include some affordable units as well as ground floor retail. This is the first time that the two companies have co-developed a project, though Oden Hughes Construction has served as general contractor on several CWS projects.

Each week, numerous multifamily projects are built, sold or financed, and there are equally numerous demographics and living preferences shaping the multifamily sector. According to the US Census Bureau, the number of millennials surpassed baby boomers in 2015. As the largest generation, millennials will be a major force in future housing demand. Lifestyle choices among both groups, however, will ultimately determine living accommodations, with multifamily most likely to be the prime beneficiary, according to Koll Bond Rating Agency.—Lisa Brown

NEWS AND NOTABLES

DALLAS—Trammell Crow Company has promoted three people within the firm's Dallas-Ft. Worth Business Unit: Scott Kirchhoff, Conner Best and Mallory Mullen.

DEAL TRACKER

AUSTIN, TX—Identropy leased 1,872 rentable square feet of office space at Chase Northcross, located at 7600 Burnet Rd. The landlord was represented by Rebecca Zigterman and Jason Steinberg with ECR and the tenant was represented by Connor Greissing with Newmark Grubb Knight Frank.

AUSTIN, TX—Matt Fain represented the seller of 6012 W. William Cannon, a freestanding medical office in South Austin.

DALLAS—Dallas-based Falcon Realty Advisors has advised Halcyon Coffee Bar + Lounge on a five-year, 3,600-square foot lease for its first location in the concept's expansion to Dallas. Halcyon Coffee Bar + Lounge has officially opened at 2900 Greenville Ave., formerly the location of Cafe Brazil for the past 10 years. Michael Walters, President of Falcon's Restaurant & Entertainment Group, and Madison Partners' Jon Hetzel negotiated the deal.

DALLAS—Pavo Communications signed a new 4,866-square-foot lease at Republic Center. The landlord was represented by Kathy Permenter, Trae Anderson and Sarah Savage at Younger Partners.

GARLAND, TX—Almost 9,000 square feet of leases were inked across three deals at 3200 Broadway. Younger Partners' represented the landlord, EY Ventures. The landlord was represented by Trae Anderson, Sarah Savage and Carson Rice.  Among the leases: Yusen Logistics (Americas) Inc. leased 4,974 square feet, Sunrise Primary Care Services leased 2,902 square feet and Urban Asset Management leased 1,079 square feet.

HOUSTON—Vista Host Inc. renewed a 7,726-square-foot office lease at the Towers at Westchase I, 10370 Richmond Ave. JLL's Ed Prejean and Don King represented the tenant in the transaction. Ryan Bishop of Stream Realty represented the landlord, FSP Westchase LLC.

LUBBOCK, TX—NAI Partners represented the Hunton Family VII Ltd. Partnership in brokering the sale of 43,800 square feet of industrial office and warehouse space located at 6020 West 43rd St. Chris Caudill and Joel Michael, both of NAI Partners along with Wes Hallmark with Sperry Van Ness represented the seller, Hunton Family VII Ltd. during the negotiations, while Cindy Snell of Westar Commercial Realty LLC represented the buyer, Two Weeks Away LLC.

BUILDING BLOCKS

AUSTIN, TX—Oden Hughes and CWS Capital have broken ground on a 226-unit multifamily project on West Fifth Street just west of downtown that will include some affordable units as well as ground floor retail. This is the first time that the two companies have co-developed a project, though Oden Hughes Construction has served as general contractor on several CWS projects.