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.

BY THE NUMBERS

OKLAHOMA CITY—The multi-billion-dollar travel industry in Oklahoma is a vital part of the state and local economies. To some, tourism can easily slip by as an unimportant peripheral industry. However, it has a substantial impact on Oklahoma. The tourism industry consists primarily of businesses in the hospitality, retail and transportation sectors. There are three main opportunities for tourism to impact the state: through direct spending, taxes and employment. Essentially, the money that visitors spend on goods and services while in Oklahoma produces revenue, in turn creating earnings and employment for Oklahomans. Additionally, state and local governments benefit from the taxes collected on tourist spending, says CBRE.

NEWS AND NOTABLES

HOUSTON—NAI Partners has completely refreshed its home on the web. The website has been redesigned from top to bottom, featuring a new home page and design scheme that represents the company and its services, and is fully responsive on mobile.

HOUSTON—The members of the Association of Commercial Real Estate Professionals/ACRP teamed up at the Houston Food Bank's warehouse facility to assist in providing food to those in need. The professionals' group joined forces with the Houston Food Bank and 30-plus volunteers gathered to sort items and assemble food boxes that will be distributed to senior citizens in the Houston area. Marking ACRP's first event with the Houston Food Bank, the commercial real estate organization helped assemble 943 boxes of food which provides 24,612 meals.

DEAL TRACKER

ALLEN, TX—Two restaurants are coming to the south end of Watters Creek at Montgomery Farm. The center will welcome Snappy Salads and Fish City Grill in the spring of 2018. Both will occupy between 2,000 and 3,000 square feet.

AUSTIN, TX—Wells Branch Self Storage, a 64,412-square-foot self-storage, has sold. Dave Knobler, first vice president investments in Marcus & Millichap's Houston office, and Charles LeClaire, executive managing director investments in Marcus & Millichap's Denver office, had the exclusive listing to market the property on behalf of the seller, a family trust out of New Jersey. Knobler and LeClaire also procured the buyer, Wells Branch Mini U Storage LLC, from Southern California. Wells Branch Self Storage is located at 1763 Wells Branch Pkwy.

DALLAS—Four multifamily communities in the Dallas-Fort Worth area have sold, totaling more than $36.7 million. Marcus & Millichap's Fort Worth-based Silva Multifamily investment sales team, led by Al Silva, senior managing director investments, along with senior associate Ford Braly and associate Mark McCoy, arranged the transactions. The four properties total 573 units and includes Castlewinds, 156 units, North Richland Hills, TX; El Ranchito, 69 units, Fort Worth; Knollwood, 188 units, Irving, TX and Holly Park, 160 units, Dallas.

HOUSTON—NAI Partners recently arranged a 51,824-square-foot industrial lease located at 16930 Park Row Dr. NAI Partners' Darren O'Conor and Jake Wilkinson of the company's Industrial group represented FMFV Warehousing Inc. during the negotiations.

RICHARDSON, TX—Younger Partners' Byron McCoy and Garrett Marler have been selected to lease and market the recently acquired 83,140-square-foot office/flex/warehouse building at 1501 N. Plano Rd., at the corner of Plano Road and Collins Boulevard.

SAN ANTONIO, TX—NAI Partners recently represented Yesh Properties LLC in a 12,112-square-foot industrial sale located at 8235 Vicar Dr. The new owners of the Vicar Drive property plan to make substantial renovations and improvements to the property in order to prepare the site for a grand opening of a future tenant. NAI Partners' Joshua Swank marketed the property on behalf of the seller, Yesh Properties LLC, and procured the buyer, Baley Investments.

TULSA—Kum & Go, a 4,958-square-foot net-leased property, has sold for $3.45 million. The buyer, an individual/personal trust, was secured and represented by Chris Lind, Jamie Medress and Mark Ruble, investment specialists in Marcus & Millichap's Phoenix office. Kyle Davis, broker, assisted in closing this transaction. Kum & Go is located at 2109 S Sheridan Rd.

BUILDING BLOCKS

KATY, TX—Atlanta-based Oakmont Industrial Group has acquired a 42–acre land parcel in West Ten Business Park from Parkside Capital and has commenced construction on Oakmont West 10, a 673,785-square-foot spec warehouse scheduled for completion in July 2018. The business park is a 472-acre deed restricted master-planned business park. Located in the logistics hub of the West Houston industrial submarket, the park has immediate access to I-10 via the newly constructed Cane Island Parkway and is only four miles from the Grand Parkway/Highway 99 interchange. John Simons and Holden Rushing with NAI Partners brokered the land sale and will represent Oakmont in leasing the facility.

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.

BY THE NUMBERS

OKLAHOMA CITY—The multi-billion-dollar travel industry in Oklahoma is a vital part of the state and local economies. To some, tourism can easily slip by as an unimportant peripheral industry. However, it has a substantial impact on Oklahoma. The tourism industry consists primarily of businesses in the hospitality, retail and transportation sectors. There are three main opportunities for tourism to impact the state: through direct spending, taxes and employment. Essentially, the money that visitors spend on goods and services while in Oklahoma produces revenue, in turn creating earnings and employment for Oklahomans. Additionally, state and local governments benefit from the taxes collected on tourist spending, says CBRE.

NEWS AND NOTABLES

HOUSTON—NAI Partners has completely refreshed its home on the web. The website has been redesigned from top to bottom, featuring a new home page and design scheme that represents the company and its services, and is fully responsive on mobile.

HOUSTON—The members of the Association of Commercial Real Estate Professionals/ACRP teamed up at the Houston Food Bank's warehouse facility to assist in providing food to those in need. The professionals' group joined forces with the Houston Food Bank and 30-plus volunteers gathered to sort items and assemble food boxes that will be distributed to senior citizens in the Houston area. Marking ACRP's first event with the Houston Food Bank, the commercial real estate organization helped assemble 943 boxes of food which provides 24,612 meals.

DEAL TRACKER

ALLEN, TX—Two restaurants are coming to the south end of Watters Creek at Montgomery Farm. The center will welcome Snappy Salads and Fish City Grill in the spring of 2018. Both will occupy between 2,000 and 3,000 square feet.

AUSTIN, TX—Wells Branch Self Storage, a 64,412-square-foot self-storage, has sold. Dave Knobler, first vice president investments in Marcus & Millichap's Houston office, and Charles LeClaire, executive managing director investments in Marcus & Millichap's Denver office, had the exclusive listing to market the property on behalf of the seller, a family trust out of New Jersey. Knobler and LeClaire also procured the buyer, Wells Branch Mini U Storage LLC, from Southern California. Wells Branch Self Storage is located at 1763 Wells Branch Pkwy.

DALLAS—Four multifamily communities in the Dallas-Fort Worth area have sold, totaling more than $36.7 million. Marcus & Millichap's Fort Worth-based Silva Multifamily investment sales team, led by Al Silva, senior managing director investments, along with senior associate Ford Braly and associate Mark McCoy, arranged the transactions. The four properties total 573 units and includes Castlewinds, 156 units, North Richland Hills, TX; El Ranchito, 69 units, Fort Worth; Knollwood, 188 units, Irving, TX and Holly Park, 160 units, Dallas.

HOUSTON—NAI Partners recently arranged a 51,824-square-foot industrial lease located at 16930 Park Row Dr. NAI Partners' Darren O'Conor and Jake Wilkinson of the company's Industrial group represented FMFV Warehousing Inc. during the negotiations.

RICHARDSON, TX—Younger Partners' Byron McCoy and Garrett Marler have been selected to lease and market the recently acquired 83,140-square-foot office/flex/warehouse building at 1501 N. Plano Rd., at the corner of Plano Road and Collins Boulevard.

SAN ANTONIO, TX—NAI Partners recently represented Yesh Properties LLC in a 12,112-square-foot industrial sale located at 8235 Vicar Dr. The new owners of the Vicar Drive property plan to make substantial renovations and improvements to the property in order to prepare the site for a grand opening of a future tenant. NAI Partners' Joshua Swank marketed the property on behalf of the seller, Yesh Properties LLC, and procured the buyer, Baley Investments.

TULSA—Kum & Go, a 4,958-square-foot net-leased property, has sold for $3.45 million. The buyer, an individual/personal trust, was secured and represented by Chris Lind, Jamie Medress and Mark Ruble, investment specialists in Marcus & Millichap's Phoenix office. Kyle Davis, broker, assisted in closing this transaction. Kum & Go is located at 2109 S Sheridan Rd.

BUILDING BLOCKS

KATY, TX—Atlanta-based Oakmont Industrial Group has acquired a 42–acre land parcel in West Ten Business Park from Parkside Capital and has commenced construction on Oakmont West 10, a 673,785-square-foot spec warehouse scheduled for completion in July 2018. The business park is a 472-acre deed restricted master-planned business park. Located in the logistics hub of the West Houston industrial submarket, the park has immediate access to I-10 via the newly constructed Cane Island Parkway and is only four miles from the Grand Parkway/Highway 99 interchange. John Simons and Holden Rushing with NAI Partners brokered the land sale and will represent Oakmont in leasing the facility.