Texas Real Estate Business

MAY 2017

Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.

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A U S T I N & C E N T R A L T E X A S 12 • May 2017 • Texas Real Estate Business www.REBusinessOnline.com H O U S T O N 713.664.3634 www.evergreentx.com "Evergreen's dedicated focus, relationships, and market knowledge have been highly contributory to the successful leasing of 750,000 SF at Katy Ranch Crossing." - Freeway Properties Mike Baker, Principal BLAIR GOLDEN JOEY LUMSDEN LILLY GOLDEN P R O J E C T L E A S I N G | T E N A N T R E P | D E V E L O P M E N T | L A N D P U R C H A S E & S A L E Faris Lee represented the buyer, Los Angeles-based Caswell Development LLC. Edifice GC Katy, TX, the devel- oper of the property, was the seller. BANK OF AMERICA TO ANCHOR 35-STORY, CLASS A OFFICE DEVELOPMENT HOUSTON — Bank of America has reached an agreement to lease six- and-a-half floors spanning 210,000 square feet of space at Capitol Tower, a 35-story, Class A office development located at 800 Capitol St. in down- town Houston. JLL represented Bank of America in the lease negotiations, which call for the company to lease 205,000 square feet of office space and 5,000 square feet of retail space, be- ginning in the first half of 2019. CBRE represented the building owner and developer, Skanska, in the transaction. Construction is scheduled to begin this month. DEVELOPERS TO DELIVER THREE $30.5 MILLION ELEMENTARY SCHOOLS HOUSTON — Three developers will deliver new elementary schools for the 2017-2018 school year to Fort Bend County in the greater Houston area. Cadence McShane is general contrac- tor for James Patterson Elementary School at 18702 Beechnut St. in Hous- ton; Drymalla Construction Co. Inc. is building James C. Neill Elementary School at 3820 Harvest Corner Drive in Richmond; and Satterfield & Pon- tikes is constructing Donald Leonetti Elementary School at 1757 Waters Lake Blvd. in Missouri City. The Fort Bend Independent School District will partially finance the $30.5 million con- struction cost of each school with $52 million in tax-exempt bonds. PROLOGIS BUYS FOUR WAREHOUSES TOTALING 809,196 SF HOUSTON — Prologis Inc. has pur- chased four Class B distribution ware- houses totaling 809,196 square feet in Houston. The four buildings are locat- ed within West by Northwest Indus- trial Park, a 39.6-acre property situ- ated near the intersection of Beltway 8 and U.S. Highway 290 on Houston's northwest side. Rusty Tamlyn and Trent Agnew of HFF represented the seller, an affiliate of Nuveen Invest- ments, a Chicago-based asset manage- ment firm. The sales price was undis- closed. DCT INDUSTRIAL TRUST TO DEVELOP 220,000 SF DISTRIBUTION CENTER HOUSTON — DCT Industrial Trust plans to develop a 222,000-square- foot, Class A distribution facility for logistics firm DHL Supply Chain USA near Port Houston. The public- ly traded REIT recently purchased a 13.2-acre site located next to two DCT- owned industrial properties along State Highway 225, both of which are occupied by DHL, for the develop- ment. Angler Construction will begin building the facility during the second quarter. FINIAL GROUP ACQUIRES 31,133 SF RETAIL CENTER CYPRESS, TEXAS — An affiliate of Finial Group LLC has acquired Lakes of Riata, a 31,113-square-foot, multi- tenant retail property in Cypress, a Bank of America recently agreed to lease more than six floors of Capitol Tower, a Class A office development in downtown Houston.

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