CENTRAL SOUTH TEXAS bulletin
AUSTIN, TX
FLEX WAREHOUSE SALE An Austin-based private investor purchased a 7,806 sf flex warehouse building located at 4903 Commercial Park Dr. at an undisclosed price. Ryan Wilson & Matt Fain with ECR represented the seller, a Georgetown resident. INDUSTRIAL & FLEX SALE St. Clair Commercial Realty purchased seven buildings (211,000 sf total), located at 5910-6104 Techni Center Dr. with frontage on 183, with plans to rebrand the park as the “Techni Center Business Park.” ECR’s Ryan Wilson & Matt Fain will handle leasing. Live Oak will be property managers.
WESTERN TRAVIS COUNTY, TX Thomas Ranch, a 2,200-acre project located along Paleface Ranch Rd. to State Hwy 71, with access to Lake Travis & Pedernales River, was approved by Travis County commissioners. The project will be built in three regional phases (Texas Town, Hilltop, & Cliffside), & will include 3,300 homes & apartments, shops, entertainment venues, restaurants, a resort hotel & spa, & more. The lead developer is Illinois-based Tom D’Alesandro of Blakefield LLC. Alex Durham was promoted to Senior Associate at Colliers International in Austin.
Stewart Geise of CBRE was promoted to Managing Director, Asset Services for Austin, San Antonio, and El Paso Markets.
Stephen D. “Doug” Roberts of Austin was elected chairman of the Texas A&M’s Real Estate Center advisory committee.
W. Douglas Jennings of Fort Worth was re-elected vice chairman for Texas A&M’s Real Estate Center.
Andres Ventura has joined Lead Commercial in Austin as a Tenant Representation Services Executive.
INDUSTRIAL LEASE Merchandise Solutions LLC, represented by Russell Todd & Andy Swanson with Centric Commercial, leased 34,500 sf, located at 15400 Long Vista Dr., from the landlord, Icon LPC TX Property Owner Pool 6 Austin, represented by Ace Schlameus & Darryl Dadon with CBRE in Austin. INDUSTRIAL LEASE Iron Mountain Information Management LLC, represented by Zane Cole with JLL, renewed its lease of the 41,656 sf property, located at 2515 Brockton Ave., from the landlord, Icon LPC TX Property Owner Pool 6 Austin, represented by Ace Schlameus & Darryl Dadon with CBRE in Austin. INDUSTRIAL LEASE Apto Solutions, Inc., represented by Greg Baxendale with JLL, renewed its lease of the 24,000 sf property, located at 3815-A Jarrett Way, & added an additional 32,000 sf. The landlord, Icon LPC TX Property Owner Pool 6 Austin, was represented by Ace Schlameus & Darryl Dadon with CBRE in Austin. LAND SALE A Giddings, TX-based investor purchased 2 acres of land at the southeast corner of Elroy & McAngus adjacent to the Circuit of the Americas racetrack. Perry Horton of Lead Commercial LLC represented the seller, a Buda-based investor. Randy Merritt of McAlister & Associates represented the buyers. OFFICE LEASE Ameriprise Holdings Inc renewed its lease of the 11,114 sf property, located at 9442 Capital Of Tx Hwy, with the landlord, OTR, represented by Troy Holme & Katie Ekstrom with CBRE in Austin. OFFICE LEASE ST Micro leased 4,242 sf at Reunion Park, located at 8501 N. MoPac Expressway. Jason Steinberg &
Matt Levin with ECR represented the landlord. Keith Zimmerman with Cushman & Wakefiled represented the tenant. OFFICE SALE Lincoln Property Co. & Goldman Sachs & Co. have purchased the Chase Tower, a 21-story office tower on 289,503 sf property, located at 221 W. Sixth St., for an undisclosed price. The Travis Central Appraisal District recently valued the property at $166 million. Spire Realty Group LP was the seller. OFFICE SALE An unidentified investor purchased Tremont Plaza, a 53,164 sf office building on 5.7 acres located at 3001 Bee Caves Rd. No purchase price was disclosed. The property was recently valued for tax purposes at $9,658,967. Travis Central Appraisal District shows the new owner as Padauk LLC Series 2 from Las Vegas, Nevada, & the seller as Hudson Office Partnership III LLC. ECR handled both sides of the deal while Matt Fain of ECR represented the buyer. RETAIL/RESIDENTIAL DEVELOPMENT Oden Hughes LLC & CWS Capital Partners LLC created a joint venture to build luxury apartments near Whole Foods HQ. Located at 1301 W. 5th St. on a 1.6-acre site, the project will include 226 units and 2,200 sf of retail space on the ground floor. The contemporary styling is by Austinbased Kelly Grossman Architects. City of Austin documents value the project at $29,000,000. The development is scheduled to deliver in late 2018. RETAIL DEVELOPMENT An unidentified Houston investor purchased nearly 4 acres of land, located at the northeast corner of State Hwy 71 & Covered Bridge Dr. with a retail development planned. Marshall Durrett of Cushman & Wakefield represented the seller. The buyers were self-represented. RETAIL LEASE Houston-based brand Fitness Connection leased 55,000 sf at the Shops at Tech Ridge, located at 13001 N. I-35. Lance Morris & PJ Kaminer of The Retail Connection represented the landlord, RD Management, & the tenant. RETAIL LEASE Texas Card House leased 5,473 sf at Galleria Oaks, located at 13376 Research Blvd. Rob Merritt & Kim Nordquelle of Retail Solutions represented the landlord. Darren Siegel of Don Quick & Associates Inc. represented the tenant.
CEDAR PARK, TX
RETAIL LEASE Blue Lion Salon Studios leased 4,800 sf at Lakeline Plaza, located at 11066 Pecan Park Blvd. No brokers were identified.
SAN ANTONIO, TX
HOTEL DEVELOPMENT DC Partners & Universal Service Group’s is planning for a 337,000 sf, 20-story luxury hotel development along the River Walk called The Arts Residences, which will include 167 hotel rooms & 66 luxury condominiums. The partnership expects to break ground in Spring 2017. INDUSTRIAL/APARTMENT REDEVELOPMENT Local developer James Lifshutz plans to convert a 5.4 acre industrial facility near Mission San Josè into apartments. The industrial facility is a former food packaging plant & will be turned into loft apartments. Lifshutz plans to renovate the 59,000 sf facility into about 55 market-rate loft apartments. MIXED-USE DEVELOPMENT Developer Efraim Varga & investment firm Harris Bay plan to start work by the end of 2017 on Essex Modern City, an 8-acre project located at Essex St. & Cherry St., & worth $150,000,000. The first phase will turn the former pallet manufacturing site into: 80,000 sf of creative office space; 65,000 sf of retail; 248 apartments; 160 condominiums; 80 townhomes & a food hall. The first phase will take about 3 years to build & will cover 5 acres. The developers hope to build a condo tower 8 to 11 stories tall in the second phase. OFFICE LEASE Metwest Inc., represented by Scott Herbold with CBRE in San Antonio, renewed its lease of the 21,749 sf property located at 607 E. Sonterra Blvd. The landlord is Concord Terrace, LLC, & was represented by Taylor Dorris with Endura. RETAIL SALE San Antonio-based GrayStreet Partners Olmos Park Village Shopping Center LP sold Olmos Park Village shopping center to Austinbased Ironwood Real Estate for an undisclosed price. The property is located at McCullough Ave. & Hildebrand Ave., and required a $2.8 million loan to buy.
SOUTH PADRE ISLAND, TX HOTEL SALE CBRE Hotel arranged the sale of Super 8, a 66-room hotel, located at 4205 Padre Blvd. near Schlitterbahn Beach Water Park. Raju Ramachandran purchased the asset for investment purposes from Michael Klement for an undisclosed price.