As Memorial Day is upon us, it is timely to note the origins of the holiday, beyond the great barbecues and gatherings we will all have this weekend. Originally known as Decoration Day, it originated in the years following the Civil War and became an official federal holiday in 1971. As it honors the men and women who died while serving in the US military, many Americans will observe Monday by visiting cemeteries or memorials and participating in parades. Unofficially, it marks the beginning of the summer season so however you spend it, have a safe and happy one!—Lisa Brown
NEWS AND NOTABLES
AUSTIN, TX—Chris McColpin has joined the Holliday Fenoglio Fowler LP Austin office as a director focused on debt and equity placement transactions for all property types. McColpin has more than 12 years of commercial real estate finance experience and joins HFF from Lone Star Funds' credit affiliate, LStar Capital, where he led originations for the southwest region.
DALLAS—Dallas-based Venture Commercial announces the following new staff: Greg Blandford has joined Venture as a senior director, focusing on restaurant tenant representation. Prior to joining Venture, Blandford spent 12 years with Position Property Group LLC. Taylor Cantrell has joined Venture as an assistant vice president, with a focus on specialty retail tenant representation. Prior to joining Venture, Cantrell was with Transwestern. Grant English has joined Venture in Brokerage Services. Prior to Venture, English worked at Altschuler and Company.
HOUSTON—NAI Partners' landlord services division announces that Sandy Crego, Ann Crocker and Erin Crowe have all been promoted to the position of senior property manager, while Samantha Doty has been promoted to the position of assistant property manager.
DEAL TRACKER
AUSTIN, TX—Najib Wehbe of Wehbe Investments Inc. purchased the pieces of commercial land located at 5014 Bull Creek from Clay Wallin of The Children's School Inc. The financing institution on this $88 million deal was Security State Bank & Trust, according to Enriched Data.
CENTENNIAL, CO—Capri EGM has acquired a build-to-suit office facility for Comcast Corporation, a publicly traded, $176.8 billion global mass media and technology company. The Comcast facility is located near I-25 which bisects Southeast Denver and is the city's most heavily traveled freeway connecting Colorado Springs, Denver and Fort Collins. CBRE facilitated the sale of the INOVA I building located at 7250 South Havana St. The property is 100% leased by Comcast Corporation and serves as the national headquarters for Comcast's business services division. Tim Richey, Mike Winn, Chad Flynn and Charley Will of CBRE capital markets, institutional properties, along with Jeffrey Shell of CBRE corporate capital markets, represented the sellers, Principal Real Estate Investors of Des Moines and the Denver-based operations of United Properties.
CLEBURNE, TX—Rowan Properties announces the closing of the 72-unit Cleburne Plaza apartment. Rowan Properties represented both the seller and the purchaser on the transaction that included the assumption of an existing HAP contract.
DENVER—ARA Newmark just announced the $31 million ($474 per square foot) sale of the 179-micro-unit Turntable Studios, located adjacent to Mile High Stadium. Vice chairmen Terrance Hunt and Shane Ozment and executive managing director Chris Cowan represented Denver-based real estate development firm, Nichols Partnership, in Denver's first true micro-apartment sale. The property sold to an undisclosed buyer.
HOUSTON—Renewable Biofuels leased 7,033 square feet at San Felipe Place, a 167,000-square-foot new class-A office building recently completed by Hines. Brad Beasley and Clark Thompson of Colvill Office Properties represented Hines in the lease transaction and Angus Hughes of Cushman & Wakefield of Houston represented RBF.
KATY, TX—Star Plaza, a 19,053-square-foot retail property at 5803 North Fry Rd., has sold. The asset had a list price of $2.975 million. Gus Lagos, vice president investments, and Alex Bouchard, senior associate, in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer was secured by Gus Lagos and Alex Bouchard.
PEARLAND, TX—DMP Acquisition Fund LLC closed on the purchase of 4155 S. Main St., a 30,500-square-foot crane-served and air-conditioned former machine-shop facility on 8.438 acres. The seller was Cornerstone Bank. Clay Pritchett of NAI Partners represented the buyer, DMP Acquisition Fund LLC. Walter Menuet of Colliers International of Texas represented the seller, Cornerstone Bank.
BUILDING BLOCKS
ROUND ROCK, TX—Savills Studley announces its continued tenant advisory services for performance services. On May 24, professionals from the firm's Austin office joined Round Rock mayor Alan McGraw, performance services president and founder Tim Thoman and Round Rock chamber vice president of economic development Ben White at a groundbreaking ceremony for performance services' future regional headquarters and Round Rock's next class-A office destination: Mesa Creek I.
As Memorial Day is upon us, it is timely to note the origins of the holiday, beyond the great barbecues and gatherings we will all have this weekend. Originally known as Decoration Day, it originated in the years following the Civil War and became an official federal holiday in 1971. As it honors the men and women who died while serving in the US military, many Americans will observe Monday by visiting cemeteries or memorials and participating in parades. Unofficially, it marks the beginning of the summer season so however you spend it, have a safe and happy one!—Lisa Brown
NEWS AND NOTABLES
AUSTIN, TX—Chris McColpin has joined the Holliday Fenoglio Fowler LP Austin office as a director focused on debt and equity placement transactions for all property types. McColpin has more than 12 years of commercial real estate finance experience and joins HFF from Lone Star Funds' credit affiliate, LStar Capital, where he led originations for the southwest region.
DALLAS—Dallas-based Venture Commercial announces the following new staff: Greg Blandford has joined Venture as a senior director, focusing on restaurant tenant representation. Prior to joining Venture, Blandford spent 12 years with Position Property Group LLC. Taylor Cantrell has joined Venture as an assistant vice president, with a focus on specialty retail tenant representation. Prior to joining Venture, Cantrell was with Transwestern. Grant English has joined Venture in Brokerage Services. Prior to Venture, English worked at Altschuler and Company.
HOUSTON—NAI Partners' landlord services division announces that Sandy Crego, Ann Crocker and Erin Crowe have all been promoted to the position of senior property manager, while Samantha Doty has been promoted to the position of assistant property manager.
DEAL TRACKER
AUSTIN, TX—Najib Wehbe of Wehbe Investments Inc. purchased the pieces of commercial land located at 5014 Bull Creek from Clay Wallin of The Children's School Inc. The financing institution on this $88 million deal was Security State Bank & Trust, according to Enriched Data.
CENTENNIAL, CO—Capri EGM has acquired a build-to-suit office facility for
CLEBURNE, TX—Rowan Properties announces the closing of the 72-unit Cleburne Plaza apartment. Rowan Properties represented both the seller and the purchaser on the transaction that included the assumption of an existing HAP contract.
DENVER—ARA Newmark just announced the $31 million ($474 per square foot) sale of the 179-micro-unit Turntable Studios, located adjacent to Mile High Stadium. Vice chairmen Terrance Hunt and Shane Ozment and executive managing director Chris Cowan represented Denver-based real estate development firm, Nichols Partnership, in Denver's first true micro-apartment sale. The property sold to an undisclosed buyer.
HOUSTON—Renewable Biofuels leased 7,033 square feet at San Felipe Place, a 167,000-square-foot new class-A office building recently completed by Hines. Brad Beasley and Clark Thompson of Colvill Office Properties represented Hines in the lease transaction and Angus Hughes of Cushman & Wakefield of Houston represented RBF.
KATY, TX—Star Plaza, a 19,053-square-foot retail property at 5803 North Fry Rd., has sold. The asset had a list price of $2.975 million. Gus Lagos, vice president investments, and Alex Bouchard, senior associate, in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer was secured by Gus Lagos and Alex Bouchard.
PEARLAND, TX—DMP Acquisition Fund LLC closed on the purchase of 4155 S. Main St., a 30,500-square-foot crane-served and air-conditioned former machine-shop facility on 8.438 acres. The seller was Cornerstone Bank. Clay Pritchett of NAI Partners represented the buyer, DMP Acquisition Fund LLC. Walter Menuet of Colliers International of Texas represented the seller, Cornerstone Bank.
BUILDING BLOCKS
ROUND ROCK, TX—Savills Studley announces its continued tenant advisory services for performance services. On May 24, professionals from the firm's Austin office joined Round Rock mayor Alan McGraw, performance services president and founder Tim Thoman and Round Rock chamber vice president of economic development Ben White at a groundbreaking ceremony for performance services' future regional headquarters and Round Rock's next class-A office destination: Mesa Creek I.
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