Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.
Issue link: https://texasrealestatebusiness.epubxp.com/i/591312
14 • November 2015 • Texas Real Estate Business www.REBusinessOnline.com D A L L A S & F O R T W O R T H CBRE GLOBAL INVESTORS ACQUIRES OFFICE COMPLEX DALLAS — CBRE Strategic Partners U.S. Value 7 has acquired Galleria Towers, a 1.4 million-square-foot, three-building ofce complex in Dal- las. Galleria Towers is located at 13355, 13455 and 13155 Noel Road, adjacent to the Galleria Mall. The property of- fers freeway access at the intersection of the North Dallas Tollway and LBJ Freeway. CBRE Global Investors plans to invest in the property by adding conference facilities, a ftness center and tenant amenities. PUBLIC STORAGE OPENS NEW 1,000-UNIT FACILITY FRISCO, TEXAS — Public Storage has opened its newest facility in Frisco, a suburb north of Dallas. Public Stor- age is opening more than 1,000 self- storage spaces on fve acres in what is its frst location in Frisco. Public Storage is located at 8433 Legacy Drive and will serve the community with climate-controlled self-storage units. Additional drive-up and more budget-friendly units without climate control are also available. The facil- ity is located just of the Dallas North Tollway. The new self-storage facility has a brick exterior. REALTY CAPITAL SELLS MIXED-USE BUILDING COLLEYVILLE, TEXAS — Irving- based Realty Capital Management LLC has sold a 12,000-square-foot mixed-use building located at 16 Village Lane in Colleyville to SC 16 Village Lane Investment LLC. The building is part of a larger 26-acre mixed-use development known as The Village at Colleyville, which Re- alty Capital developed in 2002. The mixed-use building was fully leased to four retail tenants on the frst foor and one ofce tenant on the second foor. The ground foor tenants in- clude Posh Hair Studio, The Lash Lounge, The Lodge Barbershop and Posh Body. The sole second foor ten- ant is Ztar Mobile. Realty Capital had owned the building since 2004 when the property was originally deliv- ered. Russ Webb and LeAnn Brown with Silver Oak Commercial Realty represented the seller in the transac- tion. Holt Lunsford and Matt Carthey with Holt Lunsford Commercial rep- resented the buyer. The Village at Col- leyville is located at Main Street and Highway 26 (Colleyville Boulevard). The project consists of two and three- story buildings that contain retail, res- taurant, ofce and residential uses. CBRE ARRANGES REFINANC- ING FOR APARTMENTS DALLAS — CBRE Capital Markets' debt and structured fnance team has arranged a loan for the refnancing of Gables Park 17, a 25-story, 292-unit apartment building in Dallas. CBRE worked on behalf of Clarion Gables Multifamily Trust to secure a 10-year, fxed-rate, non-recourse loan. The MetLife Inc. provided fnancing. The loan includes a four-year interest-on- ly period and is open to prepayment without penalty during the last three years. Mark Fisher of CBRE's Mid- town Manhattan ofce, along with Jay Wagley of CBRE's Dallas ofce, facilitated the fnancing on behalf of the borrower. Located at 1700 Cedar Springs Road, Gables Park 17 is in Dallas' Uptown neighborhood. Unit features include wood foors, granite counters, stainless steel appliances, dishwashers, in-unit washer and dryer and large bathrooms with gran- ite vanities and stand-alone showers. Building amenities include a pool, ftness center, business center, game room and 24-hour concierge. The property apartment tower is part of a mixed-use complex that contains an ofce tower and parking garage. TRADEMARK LAUNCHES MICRO-RESTAURANT PROGRAM AT WATERSIDE FORT WORTH, TEXAS — Trademark Property Co. is launching a micro- restaurant program dedicated to at- tracting unique restaurant concepts to Waterside, a 63-acre mixed-use de- velopment under construction at Bry- ant Irvin Road and Arborlawn Drive in Fort Worth. Trademark will lease three or four micro-restaurant spaces ranging between 600 and 1,000 square feet to local and regional businesses. The micro-restaurants will be located around The Grove, Waterside's cen- tral public space. The Grove will serve as the heart of the development, fea- turing outdoor seating for restaurants, public art and the re-use of existing playground and amusement ride equipment. Waterside broke ground on its frst phase of development in 2014 and later announced its frst anchor tenant, a 45,000-square-foot Whole Foods Market, the frst in Fort Worth. The Grove and the frst 383 multifamily units will be substantially complete by spring 2016 when the re- tail and restaurants are projected to open. Trademark Property Co. is an operator, investor and developer of commercial real estate properties.