Middle Market Digest: Mid-Week in the South and Mountain Regions

Here's a look at the trends, announcements and deals you may have missed at the mid-week point in Texas, New Mexico, Colorado, Oklahoma and Arkansas.

NEWS AND NOTABLES

HOUSTON—NAI Partners celebrates its 20th anniversary this year. The firm started in Houston, and subsequently joined the NAI network before expanding to Austin and San Antonio, say company partners Jon Silberman, managing partner, Dan Boyles, partner and head of the company's tenant rep group, and John Ferruzzo, partner and head of the company's industrial division.

HOUSTON—AECOM, a premier, fully integrated global infrastructure firm, announced the addition of Ron Cass as the senior program/project manager to its water group in the Gulf Southwest region. Based in Texas, Cass will focus on identifying new business opportunities, delivering on client projects and mentoring staff.

HOUSTON—Transwestern raised more than $93,000 in one month to support its national philanthropy partner, Make-A-Wish, in its efforts to grant wishes for children with life-threatening medical conditions. Since kicking off the national partnership in February 2016, Transwestern has donated more than $277,000 to the organization.

DEAL TRACKER

ARLINGTON, TX—Coldwell Banker Residential Brokerage NRT has signed a full-building lease for a new headquarters office in south Arlington, its home base since 1983. The brokerage firm will relocate in November to 3910 W. Interstate 20, where it's leased a 4,980-square-foot building formerly occupied by Rattitkin Title Co. in Parkside Office Park. Coldwell Banker Residential will expand by nearly 1,800 square feet when it vacates the Comerica Building at 4200 S. Cooper St., which is slated for demolition.

AUSTIN, TX—CBRE announces Opcity has signed a 50,000-square-foot lease at The Met Center (6800 Burleson Rd.). Opcity was founded in 2015 and uses technology to match residential real estate buyers and sellers to top agents. Tim Donohue and Russell Young of CBRE's Austin office represented Opcity in the site search and lease negotiations.

COLORADO SPRINGS, CO—ARA Newmark announces the $44.5 million sale of Commons at Briargate, a 194-unit asset. The property sold for more than $229,000 per unit, setting a record for the highest price per unit ever recorded in a Colorado Springs multi-housing sale. The property was 96% occupied at the time of sale. Executive managing director Kevin McKenna and director Saul Levy represented partners Lyon Living, a top residential development company in the Western United States and Barings Real Estate Advisers, part of Barings LLC, a $288 billion global financial service firm headquartered in Charlotte, acting on behalf of an institutional investor, in the sale to New York City-based Rivendell Global Real Estate, a real estate investment and asset management company.

DENVER—Luke Donahue, senior vice president/senior director of NorthMarq Capital's Phoenix regional office, negotiated acquisition financing of $15.5 million for Turntable Studios, a 179-unit multifamily property located at 1975 Mile High Stadium Circle. The transaction was structured with a 20-year fully amortizing loan. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company.

DENVER—NorthMarq Capital's Denver office arranged a five-loan multifamily transaction with a combined total financing of $123.75 million for apartment communities (1,900 units) located in Aurora and Colorado Springs, CO. Properties in Aurora include Westover Gardens (built in 1986-286 units), Ridge Hill (built in 1984-576 units), Quincy Ridge (built in 1984-424 units) and Sanctuary at Heather Ridge (built in 1972-358 units). Beverly Place is the property located in the Colorado Springs community (built in 1984 with 256 units). Gordon Mickelson, senior director and Brian Fisher, senior investment analyst, arranged the 15-year financing through NorthMarq Capital Finance on behalf of OLP Management Company.

FORT WORTH—4000 Hulen, a 240-unit multifamily community, has sold. The terms of the sale were not released. IPA executive director Will Balthrope, IPA senior director Drew Kile and associate Joey Tumminello represented the seller, Hulen Place Multifamily LP. The team also procured the buyer, San Francisco-based Hamilton Zanze.

HOUSTON—Lee & Associates–Houston represented Entech Civil Engineers Inc. in a 15,346-square-foot office lease at 15021 Katy Fwy. With this move, the company is tripling its local footprint and upgrading to a class-A building, a strategic move at a time when office vacancies are nearing record highs in the Energy Corridor.

HOUSTON—GW Services LLC, a division of Primo Water Corporation, signed a new 20,235-square-foot industrial lease at Kempwood Business Center, 8395 Kempwood Dr. David Buescher and Geoff Perrott of JLL represented GW Services in the transaction. Greg Barra and David Boyd of Boyd Commercial represented the landlord.

RICHARDSON, TX—STRIVE recently announced the sale of Wendy's, a long-term ground lease property that recently renewed for five years. Jason Vitorino of STRIVE exclusively represented the seller, a local Dallas partnership, in the transaction. STRIVE cooperated with an outside broker who represented the buyer, an all cash Austin-based 1031-exchange buyer. After a 15-day due diligence, the transaction was closed in seven days thereafter. Additional terms of the sale were not released.

BUILDING BLOCKS

AUSTIN, TX—The 500,500-square-foot class-A 29-story tower at 500 West 2nd celebrated its grand opening last week. Developed by Trammell Crow Company and joint venture partner Principal Real Estate Investors as part of the Thomas C. Green Water Treatment Plant site revitalization, the developers turned to architecture firm Gensler to design Austin's most environmentally forward thinking and technologically advanced office building.

HOUSTON—Florida-based Pet Supermarket Inc. is joining the all-star line-up at Brazos Town Center, signing an 8,000-square-foot lease to jumpstart construction on the next retail building in NewQuest Properties' largest development in Texas.

Here's a look at the trends, announcements and deals you may have missed at the mid-week point in Texas, New Mexico, Colorado, Oklahoma and Arkansas.

NEWS AND NOTABLES

HOUSTON—NAI Partners celebrates its 20th anniversary this year. The firm started in Houston, and subsequently joined the NAI network before expanding to Austin and San Antonio, say company partners Jon Silberman, managing partner, Dan Boyles, partner and head of the company's tenant rep group, and John Ferruzzo, partner and head of the company's industrial division.

HOUSTON—AECOM, a premier, fully integrated global infrastructure firm, announced the addition of Ron Cass as the senior program/project manager to its water group in the Gulf Southwest region. Based in Texas, Cass will focus on identifying new business opportunities, delivering on client projects and mentoring staff.

HOUSTON—Transwestern raised more than $93,000 in one month to support its national philanthropy partner, Make-A-Wish, in its efforts to grant wishes for children with life-threatening medical conditions. Since kicking off the national partnership in February 2016, Transwestern has donated more than $277,000 to the organization.

DEAL TRACKER

ARLINGTON, TX—Coldwell Banker Residential Brokerage NRT has signed a full-building lease for a new headquarters office in south Arlington, its home base since 1983. The brokerage firm will relocate in November to 3910 W. Interstate 20, where it's leased a 4,980-square-foot building formerly occupied by Rattitkin Title Co. in Parkside Office Park. Coldwell Banker Residential will expand by nearly 1,800 square feet when it vacates the Comerica Building at 4200 S. Cooper St., which is slated for demolition.

AUSTIN, TX—CBRE announces Opcity has signed a 50,000-square-foot lease at The Met Center (6800 Burleson Rd.). Opcity was founded in 2015 and uses technology to match residential real estate buyers and sellers to top agents. Tim Donohue and Russell Young of CBRE's Austin office represented Opcity in the site search and lease negotiations.

COLORADO SPRINGS, CO—ARA Newmark announces the $44.5 million sale of Commons at Briargate, a 194-unit asset. The property sold for more than $229,000 per unit, setting a record for the highest price per unit ever recorded in a Colorado Springs multi-housing sale. The property was 96% occupied at the time of sale. Executive managing director Kevin McKenna and director Saul Levy represented partners Lyon Living, a top residential development company in the Western United States and Barings Real Estate Advisers, part of Barings LLC, a $288 billion global financial service firm headquartered in Charlotte, acting on behalf of an institutional investor, in the sale to New York City-based Rivendell Global Real Estate, a real estate investment and asset management company.

DENVER—Luke Donahue, senior vice president/senior director of NorthMarq Capital's Phoenix regional office, negotiated acquisition financing of $15.5 million for Turntable Studios, a 179-unit multifamily property located at 1975 Mile High Stadium Circle. The transaction was structured with a 20-year fully amortizing loan. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company.

DENVER—NorthMarq Capital's Denver office arranged a five-loan multifamily transaction with a combined total financing of $123.75 million for apartment communities (1,900 units) located in Aurora and Colorado Springs, CO. Properties in Aurora include Westover Gardens (built in 1986-286 units), Ridge Hill (built in 1984-576 units), Quincy Ridge (built in 1984-424 units) and Sanctuary at Heather Ridge (built in 1972-358 units). Beverly Place is the property located in the Colorado Springs community (built in 1984 with 256 units). Gordon Mickelson, senior director and Brian Fisher, senior investment analyst, arranged the 15-year financing through NorthMarq Capital Finance on behalf of OLP Management Company.

FORT WORTH—4000 Hulen, a 240-unit multifamily community, has sold. The terms of the sale were not released. IPA executive director Will Balthrope, IPA senior director Drew Kile and associate Joey Tumminello represented the seller, Hulen Place Multifamily LP. The team also procured the buyer, San Francisco-based Hamilton Zanze.

HOUSTON—Lee & Associates–Houston represented Entech Civil Engineers Inc. in a 15,346-square-foot office lease at 15021 Katy Fwy. With this move, the company is tripling its local footprint and upgrading to a class-A building, a strategic move at a time when office vacancies are nearing record highs in the Energy Corridor.

HOUSTON—GW Services LLC, a division of Primo Water Corporation, signed a new 20,235-square-foot industrial lease at Kempwood Business Center, 8395 Kempwood Dr. David Buescher and Geoff Perrott of JLL represented GW Services in the transaction. Greg Barra and David Boyd of Boyd Commercial represented the landlord.

RICHARDSON, TX—STRIVE recently announced the sale of Wendy's, a long-term ground lease property that recently renewed for five years. Jason Vitorino of STRIVE exclusively represented the seller, a local Dallas partnership, in the transaction. STRIVE cooperated with an outside broker who represented the buyer, an all cash Austin-based 1031-exchange buyer. After a 15-day due diligence, the transaction was closed in seven days thereafter. Additional terms of the sale were not released.

BUILDING BLOCKS

AUSTIN, TX—The 500,500-square-foot class-A 29-story tower at 500 West 2nd celebrated its grand opening last week. Developed by Trammell Crow Company and joint venture partner Principal Real Estate Investors as part of the Thomas C. Green Water Treatment Plant site revitalization, the developers turned to architecture firm Gensler to design Austin's most environmentally forward thinking and technologically advanced office building.

HOUSTON—Florida-based Pet Supermarket Inc. is joining the all-star line-up at Brazos Town Center, signing an 8,000-square-foot lease to jumpstart construction on the next retail building in NewQuest Properties' largest development in Texas.