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
18 • November 2015 • Texas Real Estate Business www.REBusinessOnline.com H O U S T O N HIGHSTREET ARRANGES SALE OF RETAIL CENTER SPRING, TEXAS — HighStreet Net Lease Group, a Texas-based company specializing in the disposition and acquisition of net leased investment properties, represented a Houston- based retail owner/developer in the sale of Louetta Creek Plaza, a multi- tenant retail center located at 4660 Louetta Road in Spring. Matt Moake of HighStreet represented the seller. Glenn Clements of MFT Interests rep- resented the buyer, a local investment group. The 27,000-square-foot prop- erty was originally developed in 2005 and is located near the intersection of Louetta and Kuykendahl. NAI INVESTMENT FUND ACQUIRES 74,753 SF OFFICE BUILDING HOUSTON — NAI Investment Fund I LLC has acquired an ofce building located at 12600 Featherwood Drive in Houston. The 74,753-square-foot, Class B property is 81 percent occu- pied. NAI Partners was retained to provide both property management and leasing services on behalf of the new owner. The seller, Fort Worth- based Klabzuba Realty, was repre- sented by Marty Hogan of HFF. Rob Evans of NAI Investment Manage- ment LLC negotiated the acquisition. Amegy Bank of Texas is the lender. BAKER KATZ PURCHASES FOUR-ACRE TRACT FOR INDOOR CLIMBING FACILITY HOUSTON — Houston-based Baker Katz has completed a four-acre land acquisition on behalf of Momen- tum Indoor Climbing. This will be Momentum Indoor Climbing's frst Houston location. The property is lo- cated at the intersection of Kingsland Boulevard and Katy Mills Parkway. The 36,000-square-foot facility will feature a rock climbing surface with 50-foot climbing walls, as well as ft- ness and yoga areas. Ben Brown of Baker Katz represented Momentum Indoor Climbing in the transaction. Simpkins Group's William Stacy rep- resented the seller. The opening is slated for summer 2016. ARA NEWMARK COMPLETES ACQUISITION FINANCING FOR APARTMENT COMPLEX HOUSTON — Holly Minter, David Schwarz and Tip Strickland of ARA Newmark have closed a seven-year CMBS loan with a fxed interest rate and full-term interest-only payments on behalf of Momentum Real Estate Partners. The loan is for the acquisi- tion of Provenza at Barker Cypress Apartments in Houston. The Class A, 318-unit multifamily community was built in 2014 and ofers one-, two- and three-bedroom apartment units. BUYING POWER OF $955 MILLION Located on Loop 1604, the City of Converse has easy access to IH-35, IH-10 & San Antonio Tax abatements & incentives are being offered to qualifying business. WHY CONVERSE? It's simple, really. Conve rse E DC.com • 210.6 5 9. 916 3 With more than 200 homes on the ground every year -- and growing -- Converse boasts a population increase of over 165% since 1990. Converse is one of the most affordable places to live near San Antonio, and one of the safest. An ideal location for young families, Converse has nearly 1,000 developable acres and a pro- business climate. Turning around permits in 30 days or less and placing customer service as a priority, it's little wonder why more than 200 businesses have already chosen Converse. City of Converse EDC: 2014 IEDC Gold Award for Sustainable & Green Development City of Converse EDC: 2014 IEDC Bronze Award for General Purpose Brochure City of Converse: 2013 Municipal Leadership Award from Build San Antonio Green City of Converse EDC: 2013 City of San Antonio Green Practitioner Award Visit us at Booth #549 at the ICSC Texas Deal Making Conference • Nov. 4-6! 410 10 10 1604 1604 35 90 90 281 SAN ANTONIO CONVERSE N THREE NEW RETAILERS SIGN ON AT MIXED- USE LAKESIDE DEVELOPMENT HOUSTON — Three new retailers have signed on at Caldwell Cos.' mixed-use development, The Boardwalk at Towne Lake. Land of a Thousand Hills Cofee Co., a cofee shop and bakery, World of Beer, a tavern with a craft beer focus, and Massage Heights, a massage and skin therapy provider, are the latest tenants to sign leases at the North- west Houston project. The Boardwalk at Towne Lake of- fers restaurant, retail and recreational spaces accessible by walking, driving and boating. The three new retailers join Texas Children's Pediatrics, Copper Creek Orthodontics and restaurants Jaxton's and Taisho at the site. MCCARTHY BEGINS CONSTRUCTION ON HOUS- TON METHODIST ALKEK BUILDING HOUSTON — McCarthy Building Cos. has begun work on the Houston Methodist Alkek Level 9 Universal Care reno- vation in the Texas Medical Center. The project is led by McCarthy's Houston-based Specialized Solutions Group (SSG), which concentrates on the Texas Medical Center and surrounding institutions focused on healthcare, laboratory and higher education projects. The demolition and renova- tion project will convert level nine of the Houston Meth- odist Alkek building into a universal care unit/ICU with 19 inpatient beds. Preston Hodges and McCarthy project superintendent Michael Kacal led the Houston SSG.