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

DEAL TRACKER

AUSTIN, TX—Holliday Fenoglio Fowler LP arranged a $123.2 million refinancing for Frost Bank Tower, an iconic class-A office tower. HFF worked on behalf of the borrower, Lionstone Investments, a data-analytics driven real estate investment firm, to secure the seven-year, floating-rate loan through New York Life Insurance Company.

AUSTIN, TX—NAI Partners recently represented Outreach Home Health in a new 4,646-square-foot office lease in Chase Park located at 7600 Chevy Chase Dr. Tim Laine and David Dawkins of NAI Partners represented Outreach Home Health during the negotiations.

AUSTIN, TX—Motel 6 Cedar Park, a 80-room hospitality property has sold. Robert Arzola, associate, and Steve Swenholt, senior associate, in Marcus & Millichap's San Antonio and Austin offices, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured by Robert Arzola.

CARROLLTON, TX—Sunfinity Solar leased 20,462 square feet at Midway Business Center-building 2, 3361 Boyington Dr. Mackenzie Ford with Stream Realty Partners represented the landlord, DRA Advisors. Jackson & Cooksey represented the tenant.

CENTENNIAL, CO—Waterton acquired Greenwood Plaza, a 266-unit rental community located in the Denver suburb–approximately 15 miles southeast of downtown Denver.

DALLAS—Eric Kentoff of Chatham Lodging Trust purchased the pieces of commercial land near 7642 LBJ Fwy. The financing institution on this $780 million deal was Column Financial Inc., according to Enriched Data.

DALLAS—El Dorado Furniture Distributors LLC leased 20,000 square feet at 2624-2634 Andjon Dr. Jason Moser and Todd Poticny with Stream Realty Partners represented the tenant. Warehouse Properties represented the landlord, Patsy Queen.

GRAND PRAIRIE, TX—FinishMaster leased 59,139 square feet at Trinity Crossing.  Cannon Green and Luke Davis with Stream Realty Partners represented the landlord, Cabot Properties. NAI Robert Lynn represented the tenant.

HARLINGEN, TX—TREK Investment Group announced the sale of Harrison Crossing. Parker Carroll represented the buyer in the acquisition of the 17,250-square-foot multi-tenant property, which featured staggered lease expiration dates and included renewal options with rent increases. This property also offered a diverse national tenant mix and a strong co-tenancy with Starbucks and Walgreens.

HOUSTON—Quasar Navigation Ltd. has executed a lease with MEI Rigging and Crating LLC for 227,000 square feet of industrial warehouse space a 6501 Navigation Blvd. Clay Pritchett of NAI Partners represented the landlord, Quasar Navigation Ltd. David Cartwright of B&C Capital represented the tenant, MEI Rigging and Crating LLC.

LAKEWOOD, CO—Gelt Inc. acquired a two-asset, 580-unit apartment portfolio for $107 million. Lakewood, a thriving suburban market, is located approximately 8 miles west of downtown Denver. The adjacent properties include Ascend at Red Rocks, a 408-unit property, and Elevate at Red Rocks a 172-unit property.

LEWISVILLE, TX—INFINITe Electronics Inc. leased 78,847 square feet at CreekView 121, 301 Leora Ln. Blake Kendrick and Eric Crutchfield with Stream Realty Partners represented the landlord, EastGroup Properties. E Smith Realty Partners LLC represented the tenant.

PLANO, TX—Horizon Forest Products LP leased 36,800 square feet at 2800 E. Plano Pkwy. Ryan Boozer with Stream Realty Partners represented the tenant.  Dave Peterson with NAI Robert Lynn represented the landlord, Prologis.

PLANO, TX—Safelite Fulfillment, Inc. extended its lease of 43,269 square feet at 1601 E. Plano Pkwy. Matt Dornak and Ryan Wolcott with Stream Realty Partners represented the landlord. Pangman Commercial Realty, L.P. represented the tenant.

RICHARDSON, TX—Keller Williams extended and expanded its lease of 19,634 square feet at Custer Court, 501 W. President George Bush Hwy. Matt Wieser and Ryan Evanich with Stream Realty Partners represented the landlord.

BUILDING BLOCKS

WESTMINSTER, CO—Conor Commercial Real Estate, member of The McShane Companies, and its partner, WHI Real Estate Partners LP, have broken ground on the latest venture, Park 12 Hundred Tech Center. Located halfway between Denver and Boulder, the project incorporates 324,000 square feet of new class-A industrial space slated for occupancy in early second quarter 2018. The development will feature four rear-loaded single- and/or multi-tenant buildings equipped to maximize efficiency and functionality for tech-centric industrial, light manufacturing and R&D users.