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

NEWS AND NOTABLES

AUSTIN, TX—Corridor Title announced the recipient of its annual Corridor Title Cares grant program. Homegrown Austin Sunshine Camps was selected as the winning nonprofit from a group of 27 worthy organizations.

DALLAS—CBRE Group Inc. announced that Jack Fraker has been promoted to managing director, Global Industrial and Logistics. Fraker will now integrate the CBRE Capital Markets industrial and logistics vertical globally, in addition to leading the practice in the United States. Based in Dallas, Fraker will continue to serve as the head of business development and portfolio sales for CBRE's national partners.

DALLAS—CBRE Group Inc. announced that Randy Baird has joined CBRE as executive vice president and Dallas leader of the firm's national partners industrial specialty group. Based in Dallas, Baird will have overall responsibility for the wider South Central region.

DALLAS—Cresa DFW is under the direction of new leadership consisting of commercial real estate veterans. The revamped office is under the management of Scott Bumpas and Brant Bryan. Bumpas is taking the role of Cresa DFW's managing principal, while Bryan will continue in the role as Cresa capital markets managing principal. Also on board is Bill Benton as the company's senior vice president, project management.

DEAL TRACKER

AUSTIN, TX—CBRE Capital Markets announces the exclusive marketing assignment for Arbor Town Square, a 33,086-square-foot retail and creative office asset. David Thibodeaux and Logan Reichle of CBRE's Austin office are marketing the asset for sale on behalf of the seller, a local private developer.

AUSTIN, TX—Hunt Mortgage Group has refinanced two retail properties for the same sponsor. The total loan by Hunt Mortgage Group is $27.7 million. The Linc is located at 6406 North Interstate 35 Frontage Rd. It is a 178,743-square-foot community retail center. The property was built in 1984 and is situated on a 15.61 acre site ground leased on a long-term basis until December of 2082. Hunt Mortgage Group provided an $11.2 million first mortgage bridge that will be used to refinance the existing loan, fund future leasing costs and cover capital expenditures to lease-up and stabilize the property. The property is currently 57.2% leased to 14 tenants. The subject is currently underperforming in the submarket, which has an average occupancy of 97%.

The Crescent is an 117,980 square-foot grocery-anchored retail center located at 6929 and 6903 Airport Blvd. and 610 Kenniston Dr. The property was built in phases from 1964 to 1987 and is situated on a 12.23 acre site. Hunt Mortgage Group provided a $16.5 million first mortgage bridge loan to refinance the existing loan, fund a CapEx reserve, and cover future costs to lease-up and stabilize the property. The property is anchored by 99 Ranch and is currently 54.5% occupied by 12 additional tenants.

AUSTIN, TX—Aspen Heights Partners, developer and manager of a diverse portfolio of real estate across the country, has announced its acquisition of Lincoln Property Company's student housing division, Grand Campus Living. Aspen Heights Partners will take on property management of more than 3,000 beds across the country.

BEE CAVE, TX—The Bee Cave City Council has approved site development plans for the 6.7-acre section that enables a total of 80,000 square feet of neighborhood office and medical space to be built, called Gateway to Falconhead. That space will be spread among six buildings, ranging in height from one to two stories. Site work has begun and construction is expected to go vertical this summer.

WESTMINSTER, CO—JLL recently secured a 10-year lease on new office space for Swisslog Healthcare's headquarters at Circle Point 2, 11080 Circle Point Dr., part of the Circle Point Corporate Campus. The 29,731-square-foot office space was the final piece in completing Swisslog Healthcare's goal to relocate its global headquarters from Denver's Montbello industrial neighborhood to the tech-savvy Northwest Corridor. Circle Point 2 is located directly across 112th Avenue from the Swisslog Technology Center, slated to be completed by March 2018.

FORT WORTH—NAI Robert Lynn's retail division recently represented Texas Family Fitness with leasing shopping center spaces in north Fort Worth and Bedford. With the expansion, TFF will bring its family-friendly, value-fitness to Tarrant County with plans for additional locations in the future. President of the NAI Robert Lynn's Dallas retail division, Dan Avnery, represented the tenant in both transactions.

HOUSTON—NAI Partners recently represented Matthews Daniel Company in a 12,754-square-foot office lease at 4544 Post Oak Place Dr. Jason G. Whittington of NAI Partners represented Matthews Daniel during the negotiations. The landlord is OPUS-4544 POP LP.

NEWS AND NOTABLES

AUSTIN, TX—Corridor Title announced the recipient of its annual Corridor Title Cares grant program. Homegrown Austin Sunshine Camps was selected as the winning nonprofit from a group of 27 worthy organizations.

DALLAS—CBRE Group Inc. announced that Jack Fraker has been promoted to managing director, Global Industrial and Logistics. Fraker will now integrate the CBRE Capital Markets industrial and logistics vertical globally, in addition to leading the practice in the United States. Based in Dallas, Fraker will continue to serve as the head of business development and portfolio sales for CBRE's national partners.

DALLAS—CBRE Group Inc. announced that Randy Baird has joined CBRE as executive vice president and Dallas leader of the firm's national partners industrial specialty group. Based in Dallas, Baird will have overall responsibility for the wider South Central region.

DALLAS—Cresa DFW is under the direction of new leadership consisting of commercial real estate veterans. The revamped office is under the management of Scott Bumpas and Brant Bryan. Bumpas is taking the role of Cresa DFW's managing principal, while Bryan will continue in the role as Cresa capital markets managing principal. Also on board is Bill Benton as the company's senior vice president, project management.

DEAL TRACKER

AUSTIN, TX—CBRE Capital Markets announces the exclusive marketing assignment for Arbor Town Square, a 33,086-square-foot retail and creative office asset. David Thibodeaux and Logan Reichle of CBRE's Austin office are marketing the asset for sale on behalf of the seller, a local private developer.

AUSTIN, TX—Hunt Mortgage Group has refinanced two retail properties for the same sponsor. The total loan by Hunt Mortgage Group is $27.7 million. The Linc is located at 6406 North Interstate 35 Frontage Rd. It is a 178,743-square-foot community retail center. The property was built in 1984 and is situated on a 15.61 acre site ground leased on a long-term basis until December of 2082. Hunt Mortgage Group provided an $11.2 million first mortgage bridge that will be used to refinance the existing loan, fund future leasing costs and cover capital expenditures to lease-up and stabilize the property. The property is currently 57.2% leased to 14 tenants. The subject is currently underperforming in the submarket, which has an average occupancy of 97%.

The Crescent is an 117,980 square-foot grocery-anchored retail center located at 6929 and 6903 Airport Blvd. and 610 Kenniston Dr. The property was built in phases from 1964 to 1987 and is situated on a 12.23 acre site. Hunt Mortgage Group provided a $16.5 million first mortgage bridge loan to refinance the existing loan, fund a CapEx reserve, and cover future costs to lease-up and stabilize the property. The property is anchored by 99 Ranch and is currently 54.5% occupied by 12 additional tenants.

AUSTIN, TX—Aspen Heights Partners, developer and manager of a diverse portfolio of real estate across the country, has announced its acquisition of Lincoln Property Company's student housing division, Grand Campus Living. Aspen Heights Partners will take on property management of more than 3,000 beds across the country.

BEE CAVE, TX—The Bee Cave City Council has approved site development plans for the 6.7-acre section that enables a total of 80,000 square feet of neighborhood office and medical space to be built, called Gateway to Falconhead. That space will be spread among six buildings, ranging in height from one to two stories. Site work has begun and construction is expected to go vertical this summer.

WESTMINSTER, CO—JLL recently secured a 10-year lease on new office space for Swisslog Healthcare's headquarters at Circle Point 2, 11080 Circle Point Dr., part of the Circle Point Corporate Campus. The 29,731-square-foot office space was the final piece in completing Swisslog Healthcare's goal to relocate its global headquarters from Denver's Montbello industrial neighborhood to the tech-savvy Northwest Corridor. Circle Point 2 is located directly across 112th Avenue from the Swisslog Technology Center, slated to be completed by March 2018.

FORT WORTH—NAI Robert Lynn's retail division recently represented Texas Family Fitness with leasing shopping center spaces in north Fort Worth and Bedford. With the expansion, TFF will bring its family-friendly, value-fitness to Tarrant County with plans for additional locations in the future. President of the NAI Robert Lynn's Dallas retail division, Dan Avnery, represented the tenant in both transactions.

HOUSTON—NAI Partners recently represented Matthews Daniel Company in a 12,754-square-foot office lease at 4544 Post Oak Place Dr. Jason G. Whittington of NAI Partners represented Matthews Daniel during the negotiations. The landlord is OPUS-4544 POP LP.