Texas Real Estate Business

FEB 2018

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

Issue link: https://texasrealestatebusiness.epubxp.com/i/935994

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A U S T I N & C E N T R A L T E X A S www.REBusinessOnline.com Texas Real Estate Business • February 2018 • 9 D A L L A S & F O R T W O R T H HFF ARRANGES SALE OF 301,500 SF INDUSTRIAL FACILITY FORT WORTH, TEXAS — HFF has arranged the sale of Riverbend West Distribution Center, a 301,500-square- foot, Class A industrial facility in Fort Worth. Built in 2016, the cross-dock facility features 32-foot clear heights, LED warehouse lighting, 76 overhead dock doors and four drive-in doors. Hunt Southwest Real Estate Develop- ment sold the property, which was 86 percent leased to Ecolab and PODS at the time of sale, to Pure Industrial Real Estate Trust for an undisclosed price. Adam Herrin and Stephen Bailey of HFF led the investment advisory team. . MERCEDES-BENZ FINANCIAL SIGNS 200,000 SF OFFICE LEASE AT ALLIANCETEXAS FORT WORTH, TEXAS — Mercedes- Benz Financial Services USA LLC has signed a 200,000-square-foot office lease at AllianceTexas in Fort Worth. Mercedes-Benz Financial has operated out of Alliance Texas, an 18,000-acre, master-planned community owned by Hillwood, since 2007, and this move increases the overall size of the com- pany's footprint in Fort Worth. The new, build-to-suit property will serve as the company's national business operations center and is scheduled to open in 2019. STREAM COMPLETES RENOVATION OF 549,000 SF OFFICE BUILDING DALLAS — Stream Realty Partners has completed the renovation of Pinnacle Tower, a 24-story, 549,000-square- foot office building located along the LBJ Freeway in Dallas. The yearlong project delivered upgrades such as new exterior lighting to showcase the design and a remodeled lobby with a Starbucks Coffee, full-service restaurant and outdoor patio. Other additional features include a tenant lounge, fitness center, conference cen- ter and shuttle service to and from the Galleria mall and local restaurants. GOLDMAN SACHS, CRESCENT TO REDEVELOP 200,000 SF OFFICE ASSET DALLAS — A partnership between Goldman Sachs Asset Management (GSAM) and Crescent Real Estate LLC will redevelop 2401 Cedar Springs, a 200,000-square-foot office building located in the Uptown area of Dallas that it recently acquired from Guide- stone Financial Resources. Jack Crews of JLL represented Guidestone in that sale. The single-tenant property was built in 1989 and will soon be vacant. The redevelopment will focus on the building's exterior façade and lobby and will deliver new amenities while modernizing the tenant spaces and common areas. A timetable for com- pletion has not yet been established. LEE & ASSOCIATES NEGOTIATES 445,695 SF INDUSTRIAL LEASE EXTENSION, EXPANSION COPPELL, TEXAS — Lee & Associ- ates Dallas/Fort Worth has complet- ed a lease extension and expansion totaling 445,695 square feet located at 777 Freeport Parkway in Coppell, about 22 miles northwest of Dallas. Bob Gibson of CBRE represented the tenant, C&S Wholesale Grocers Inc., a wholesale grocery supplier and leading supply chain company for the food industry. Ken Wesson and Mark Graybill of Lee & Associates represented the landlord, GLP, a de- veloper of logistics facilities. GREYSTAR UNDERWAY ON 13-ACRE MIXED-USE COMMUNITY FLOWER MOUND, TEXAS — Greystar is developing Elan Flower Mound, a mixed-use community that will be situated on 13 acres in the northern Dallas-Fort Worth (DFW) metro of Flower Mound. Preliminary plans for the property will include the development of 426 apartments ranging in size from 493 to 1,558 square feet, as well as 40 townhomes ranging in size from 1,309 to 1,848 square feet. Community amenities will include a theater room, pool, fitness center, dog park and bike repair area. Designed by Meeks + Partners, the project will also deliver more than 15,000 square feet of re- tail space. Construction is already underway with a target completion date of fourth-quarter 2018. Developers are visionaries by nature. Their ambition to meet the challenges and complexities that every project brings is matched only by their determination to succeed. At Trez Capital we share in that vision of possibility. As a leader in the private mortgage lending industry, we balance a deep knowledge of real estate and due diligence with a bolder vision of what's possible. Ready to take your idea to the next stage? Let Trez Capital help you secure the means to bring your idea to life. BUILD WITH CONFIDENCE ROBERT PERKINS Western U.S. robertp@trezcapital.com (604) 638-2778 JOHN HUTCHINSON Central and Southwestern U.S. johnh@trezcapital.com (214) 545-0952 BRETT D. FORMAN Eastern U.S. bforman@trezforman.com (561) 588-0132 ext. 1018 www.trezcapital.com

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