Generally, investors remain cautiously optimistic in the near term, as the US industrial market is heavily dependent upon the global economic climate, global geopolitical factors and access to credit, according to Cushman & Wakefield. Seaport cities and major logistics hubs are expected to remain strong performers throughout 2017 and beyond, which is definitely the case with Houston and Dallas, respectively. The Port of Houston continues to be in strong demand and Dallas is spreading into the outreaches for land serving all property types.—Lisa Brown
NEWS AND NOTABLES
AUSTIN, TX—Opcity announces it newest funding round of Series A financing. Opcity's transaction-generating service provides infinite ROI because the broker only pays when the lead converts to a sale. Opcity's technology finds transaction-ready buyers and sellers in the growing haystack of online real estate leads and delivers them to top agents and brokers in real-time at no upfront cost. This approach replaces the expensive and time-intensive process of brokers buying and qualifying their own online leads. Using large proprietary data sets and applied analytics, Opcity's unique technology and matching algorithm turn online inquiries into transactions, drive increases in conversion by three to five times the industry average and give brokers centralized insights into agents' pipelines for the first time.
DALLAS—NorthMarq Capital, a leader in financing commercial real estate throughout the United States, announces that Ruth Davis has joined its Dallas regional office in the role of vice president. In her new role at NorthMarq, Davis will focus on sourcing debt and equity opportunities for all product types throughout the country.
DALLAS—Truss announced its penetration into the DFW marketplace with two new hires, Sheryl Pickens and Brenda Ridnour, and the opening of its new location at 1920 McKinney Ave. Truss is a new CRE tool that simplifies the process of finding and renting office space. Truss streamlines the office-search process so companies can go from search to lease.
DALLAS—Westmount Realty Capital LLC, a Dallas-based commercial real estate development and investment management company, announces that Kevin Michels has joined the company as director– investment analysis. In this role, Michels will provide analysis of Westmount's multifamily portfolio and assist with the strategic evaluation of future opportunities, both commercial and multifamily.
DENVER—Continuum Partners, a Denver-based urban mixed-use development firm, announced the appointment of Donna Blair to the position of chief operating officer. With more than 25 years of experience in real estate development and asset management of high-profile commercial office, retail and mixed-use projects, Blair will collaborate with civic and business leaders, as well as oversee the day-to-day operations of the company.
DEAL TRACKER
ALLEN, TX—Vestar, one of the leading privately held real estate companies in the western United States, has secured a 15-year permanent loan with the Lincoln National Life Insurance Company in the principal amount of $8.673 million for the recently acquired Twin Creeks Marketplace. The 43,134-square-foot grocery-anchored neighborhood center is located at 1265 W. Exchange Parkway.
AUSTIN, TX—Dallas-based Lantower Residential acquired NXNE apartment homes, a 375-unit community in the Tech Ridge submarket.
GRAPEVINE, TX—System Electric leased 14,800 square feet at 635 Westport. Canon Shoults of Holt Lunsford Commercial represented the landlord, Longpoint Realty Partners.
HOUSTON—NAI Partners represented The Hudgins Law Firm PC in a 9,429-square-foot office lease located at Weslayan Tower–24 Greenway Plaza. Dan F. Boyles Jr. of NAI Partners represented the tenant, The Hudgins Law Firm, in the lease negotiations, while Sandy Benak of Granite Properties represented the landlord, Granite Weslayan Partners LTD.
HOUSTON—NAI Partners represented Southbelt Park LTD. in the disposition of two industrial warehouse buildings totaling 45,000 square feet on 3.8 acres. Josh Lass-Sughrue, John Ferruzzo and Nick Peterson, all NAI Partners, represented the seller, Southbelt Park Ltd. during the sale negotiations of both buildings. Brad Lynch of First Continental Real Estate represented one buyer, Don Sweat, during the negotiations. The building totaled 22,500 square feet on 1.9 acres located at 7428 Fairview.
KATY, TX—Stoney Creek Center, a 29,614-square-foot retail property, has sold. Watt Harrison, senior associate, and James H. Bell, first vice president investments, in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a partnership. Stoney Creek Center is located at 1420 Katy Flewellen Rd.
LAREDO, TX—Marcus & Millichap facilitated the sale of Walker Plaza, a 63,714-square foot office property. The asset had a list price of $4.75 million. James H. Bell, first vice president investments, and Keith E. Lloyd, director, in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a partnership. Walker Plaza is located at 5810 San Bernardo Ave.
PASADENA, TX—NAI Partners represented United Equities in the acquisition of 7.96 acres for development of a new business park, Beltway-225 Business Park located at the Sam Houston Tollway and Meadow Wood Dr. Phase one of Beltway-225 Business Park will consist of a 21,000-square-foot 10-ton crane-ready industrial facility, an 18,500-square-foot 10-ton crane-ready industrial facility and an additional 3.6 acres for build-to-suit development. Travis Land and Michael Keegan represented the buyer, United Equities, during the negotiations, while Tom Lynch of CBRE represented the seller, Wodan Real Estate Company.
TULSA, OK—KeyBank Real Estate Capital provided a $9.1 million HUD loan to LEDIC Realty Company for the substantial rehabilitation of Quail Creek Villa, an affordable housing community restricted for seniors (62+) and residents with disabilities. The property benefits from a Section 8 housing assistance payments contract, with all 120 units designated for tenants making up to 60% area median income. Jeff Rodman of Key's commercial mortgage group and Kelly Frank of Key's community development lending and investment group arranged the financing.
Generally, investors remain cautiously optimistic in the near term, as the US industrial market is heavily dependent upon the global economic climate, global geopolitical factors and access to credit, according to Cushman & Wakefield. Seaport cities and major logistics hubs are expected to remain strong performers throughout 2017 and beyond, which is definitely the case with Houston and Dallas, respectively. The Port of Houston continues to be in strong demand and Dallas is spreading into the outreaches for land serving all property types.—Lisa Brown
NEWS AND NOTABLES
AUSTIN, TX—Opcity announces it newest funding round of Series A financing. Opcity's transaction-generating service provides infinite ROI because the broker only pays when the lead converts to a sale. Opcity's technology finds transaction-ready buyers and sellers in the growing haystack of online real estate leads and delivers them to top agents and brokers in real-time at no upfront cost. This approach replaces the expensive and time-intensive process of brokers buying and qualifying their own online leads. Using large proprietary data sets and applied analytics, Opcity's unique technology and matching algorithm turn online inquiries into transactions, drive increases in conversion by three to five times the industry average and give brokers centralized insights into agents' pipelines for the first time.
DALLAS—NorthMarq Capital, a leader in financing commercial real estate throughout the United States, announces that Ruth Davis has joined its Dallas regional office in the role of vice president. In her new role at NorthMarq, Davis will focus on sourcing debt and equity opportunities for all product types throughout the country.
DALLAS—Truss announced its penetration into the DFW marketplace with two new hires, Sheryl Pickens and Brenda Ridnour, and the opening of its new location at 1920 McKinney Ave. Truss is a new CRE tool that simplifies the process of finding and renting office space. Truss streamlines the office-search process so companies can go from search to lease.
DALLAS—Westmount Realty Capital LLC, a Dallas-based commercial real estate development and investment management company, announces that Kevin Michels has joined the company as director– investment analysis. In this role, Michels will provide analysis of Westmount's multifamily portfolio and assist with the strategic evaluation of future opportunities, both commercial and multifamily.
DENVER—Continuum Partners, a Denver-based urban mixed-use development firm, announced the appointment of Donna Blair to the position of chief operating officer. With more than 25 years of experience in real estate development and asset management of high-profile commercial office, retail and mixed-use projects, Blair will collaborate with civic and business leaders, as well as oversee the day-to-day operations of the company.
DEAL TRACKER
ALLEN, TX—Vestar, one of the leading privately held real estate companies in the western United States, has secured a 15-year permanent loan with the
AUSTIN, TX—Dallas-based Lantower Residential acquired NXNE apartment homes, a 375-unit community in the Tech Ridge submarket.
GRAPEVINE, TX—System Electric leased 14,800 square feet at 635 Westport. Canon Shoults of Holt Lunsford Commercial represented the landlord, Longpoint Realty Partners.
HOUSTON—NAI Partners represented
HOUSTON—NAI Partners represented Southbelt Park LTD. in the disposition of two industrial warehouse buildings totaling 45,000 square feet on 3.8 acres. Josh Lass-Sughrue, John Ferruzzo and Nick Peterson, all NAI Partners, represented the seller, Southbelt Park Ltd. during the sale negotiations of both buildings. Brad Lynch of First Continental Real Estate represented one buyer, Don Sweat, during the negotiations. The building totaled 22,500 square feet on 1.9 acres located at 7428 Fairview.
KATY, TX—Stoney Creek Center, a 29,614-square-foot retail property, has sold. Watt Harrison, senior associate, and James H. Bell, first vice president investments, in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a partnership. Stoney Creek Center is located at 1420 Katy Flewellen Rd.
LAREDO, TX—Marcus & Millichap facilitated the sale of Walker Plaza, a 63,714-square foot office property. The asset had a list price of $4.75 million. James H. Bell, first vice president investments, and Keith E. Lloyd, director, in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a partnership. Walker Plaza is located at 5810 San Bernardo Ave.
PASADENA, TX—NAI Partners represented United Equities in the acquisition of 7.96 acres for development of a new business park, Beltway-225 Business Park located at the Sam Houston Tollway and Meadow Wood Dr. Phase one of Beltway-225 Business Park will consist of a 21,000-square-foot 10-ton crane-ready industrial facility, an 18,500-square-foot 10-ton crane-ready industrial facility and an additional 3.6 acres for build-to-suit development. Travis Land and Michael Keegan represented the buyer, United Equities, during the negotiations, while Tom Lynch of CBRE represented the seller, Wodan Real Estate Company.
TULSA, OK—KeyBank Real Estate Capital provided a $9.1 million HUD loan to LEDIC Realty Company for the substantial rehabilitation of Quail Creek Villa, an affordable housing community restricted for seniors (62+) and residents with disabilities. The property benefits from a Section 8 housing assistance payments contract, with all 120 units designated for tenants making up to 60% area median income. Jeff Rodman of Key's commercial mortgage group and Kelly Frank of Key's community development lending and investment group arranged the financing.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.