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Real Estate Bisnow
   
January 2, 2013 
 
 

Big Move in Southpark;

The Deal Sheet


Clients have come to rely on Bury + Partners for sophisticated design and consulting. It's one place with many solutions. Find out more here.

 
Been dying to live in Austin's popular Southpark Meadows mixed-use project? You're in luck. Oden Hughes started construction on the first phase of the 285-apartment Landmark Southpark community.
 
Landmark Southpark
Located on the southwest corner of South First Street and Slaughter Lane across from Southpark Meadows, the first phase also includes a pool, clubhouse, fitness center, gaming center, and dog park. Construction should wrap by Q1 ‘14. A second phase will begin in ‘14 and feature 285 more units. The total cost wasn't disclosed. Wells Fargo Bank provided the construction loan for the first phase. Kelly Grossman is the architect and Bury + Partners the engineer. It's the fifth apartment project for Oden Hughes since the company formed in 2010.
 
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Austin Deals
 

LEASES

NAI REOC Austin worked several leases:

  • Mark Milstead repped the landlord in a 57k SF lease to Ram Tool & Supply Co at 8013 Exchange Dr. NAI Robert Lynn repped the tenant.

  • Perry Horton repped the landlord in a 9k SF lease to Dealer Industries at 8013 Exchange Dr. Todd Hubbard repped the tenant.

  • Jolie Schooler repped The Kucera Cos in a 47k SF lease at 7320 N Mopac Expy. Kucera self-repped.

 

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AT&T leased 15k SF at Austin Business Park at 5408 US Hwy 290 West. HPI’s Ace Schlameus represented the landlord.

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CBRE Austin worked a couple of leases:

  • Teksystems inked a 13k SF lease in River Place Corporate Park at 6500 River Place Blvd from MLIC Asset Holdings. CBRE’s Troy Holme and Casey Ford repped the landlord. Oxford Commercial’s Ted Doucett repped the tenant.

  • Portelligent signed an 11k SF lease in McNeil 9 at 12303 Technology Blvd from Investors Warranty of America. CBRE’s Mark Emerick and John Barksdale repped the landlord. Oxford Commercial’s Ryan Kasten repped the tenant.
SALES
 
austin MOB

An out-of-state investor purchased an 11k SF free-standing MOB in South Austin for an undisclosed amount. KW Commercial’s Nick Nelson and Jim Young repped the buyer.

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MVP REIT purchased a 376-unit, 52k SF self-storage facility in Cedar Park for $3.5M (all cash). The 90% occupied 12-building portfolio is on four acres.


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Pfluger Station, at the southwest corner of FM 685 and Pflugerville Parkway in Pflugerville (of course), sold to undisclosed buyer. The 7,514 SF site is home to Mattress Firm and Sprint. Retail Solutions’ Alan Rust repped the seller.

PEOPLE ON THE MOVE

Transwestern expanded its Central Texas investment services operation with the addition of Craig Hutchens. He'll serve as SVP for the structured finance and capital markets group, specializing in CRE loan origination, underwriting of real estate portfolios, due diligence, and structuring of complex debt and equity. Prior to joining Transwestern, he was prez and CEO of The Lockhart/Hutchens Co.
San Antonio Deals
 

LEASES

Stream Realty’s Jason Schnittger repped landlord Clarion Partners in two lease expansions at Network Tech Center. CIMA Hospice renewed and expanded to 22k SF and A’GACI renewed and expanded to 13k SF. The two tenants, both repped by Pruitt Realty’s Hank Pruitt, now occupy 40% of the property.

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Turner Construction leased 10k SF at Brookhollow Business Park (1077 Central Pkwy South). Transwestern’s Larry Mendez repped the tenant and RL Worth’s Rick Littleton repped the landlord.

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Stream Realty’s Jason Schnittger repped the landlord in two leases at Northbrook Business Center (140 Heimer Rd). ABSG Consulting inked 11k SF (repped by Bailes and Associates’ Mark Coffey) and ADT renewed 24k SF (repped by CBRE’s Mike Sawtelle). The property is 85% leased.

DEVELOPMENT
South Texas Spine

South Texas Spine & Surgical Hospital (18600 Hardy Oak Blvd) is expanding, adding nearly 9,000 SF to the 46k SF facility. That includes nine new private patient rooms, storage, and a suite of critical care and observation rooms. The hospital is owned by MedProperties Capital Partners and operated by National Surgical Hospitals.

Financing

HFF’s Mona Carlton and Robert Wooten arranged acquisition financing for Network Crossing, a five-building, 144k SF, 89% leased office property at 5253 Prue Rd. The team repped Live Oak-Gottesman Co and nabbed a 10-year fixed rate with Northwestern Mutual.

This and That

Stream Realty was awarded a 47k SF leasing assignment at Metro Industrial Park. Jason Schnittger will handle leasing for landlord RLA Advisors. The property is 79% occupied and available space ranges from 3,600 to 6,300 SF.

Upcoming Bisnow Events!
 
Friday, Jan. 25, 7:30am-10:30am. Bisnow's San Antonio Future of Downtown event. Hear the experts talk about development plans for an anticipated expansion in population and job growth and the future of real estate opportunity within the CBD. Register here.
 
Hello, lucky 2013! How did you spend your holidays? Tell us, Catie Dixon (catie@bisnow.com) or Tonie Auer (tonie@bisnow.com).
 
 
 
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