Stream Wades into HPP; The Deal Sheet
|Stream Realty Partners will lease and manage the 164k SF Highland Park Place Class A office building adjacent to the big money Highland Park neighborhood.|
|The 17-story reflective glass tower at 4514 Cole Ave. was acquired by an affiliate of Chicago-based Heitman. Stream Realty's Ramsey March and Ryan Evanich will lead the leasing effort of the 83% occupied property. Stream SVP/co-manager Sarah Payne says that under the guidance of the building's new institutional ownership, she expects Highland Park Place to compete toe-to-toe with the Preston Center submarket. Ramsey tells us the new owner bought the building with plans to improve management and is considering physical improvements, as well. A big selling point, Ramsey tells us:24 restaurants within walking distance.|
More New Business
Cabot Properties hired Lone Star Realty Advisors to lease its 81k SF warehouse building at 1225 Capital Dr. in Carrollton. This front-load facility has 26k SF available. Lone Star Realty Advisors has more than 800k SF of existing lease property plus another 370k SF of planned development for a total of 1.2M SF.
The US Army Corps of Engineers leased almost 5k SF in Towne North Shopping Center at the SWC of Beltline Road and Northgate Drive in Irving from Towne North S/C Partners. The Retail Connection's David Levinson repped the tenant. David also worked with Jack Weir repping PLAYtime Playcenters in a 4k SF lease in the Commons at Walnut Creek on the NEC of Hwy. 287 between Walnut Creek and Country Club in Mansfield.
Bright Realty inked three new tenants for Southwest Center Mall, at Hwy. 67 and Camp Wisdom Road, adding almost 9k SF of retail.WAG Learning Center signed a 6k SF five-year lease. A restaurant and vacuum cleaner/supply store round out the trio of leases.
Grubb & Ellis handled several deals including:
Cenegenics leased 4k SF at the Bank of America building in North Arlington. SCM Real Estate SVP Theron Bryant represented the landlord and Ellis & Tinsley's Bill Tinsley represented the tenant.
Transwestern's industrial team represented tenants in 454k SF of deals including:
|Jaster-Quintanilla relocated its Fort Worth offices to the former Texas and Southwestern Cattle Raisers Association museum space at 1301 W. 7th St. in Fort Worth. The move provides the firm with a central location to its clients, JQ principal Tom Scott tells us. Current Cowtown projects include the Tarrant County Jail and Tarrant County Civil Courts building (working with Fort Worth-based Gideon Toal and associate architect, Wiginton Hooker Jeffrey for the jail and HOK and associate architect HKS for the civil courts building.)JLL EVP David Walters repped JQ in the lease.|
Quadrant Realty Finance secured $2M in permanent financing for Sylvan Heights Shopping Center in Arlington. Quadrant's Jason Piering and Randy Fleisher placed the 5-year fixed-rate, non-recourse loan. The proceeds were used by the borrower to acquire the 43k SF 100% occupied shopping center, which is at the NEC of East Park Row Drive and South Collins Street.
People in the News
David Stack, a 23-year CRE veteran, joined Grubb & Ellis as VP of project management. David came from JLL, where he was an SVP of design and construction. He spent 11 years as a VP of design and construction for The Staubach Co. prior to its acquisition by JLL in 2008. He specialized in tenant rep for real estate brokerage and project management.
The University of Texas System's Office of Facilities Planning and Construction awarded Hill & Wilkinson its SILVER STEP safety award for its work on the new Academic Center at the University of Texas Health Science Center at Tyler. STEP awards are given by UT's OFPC to recognize contractors who meet UT's safety standards over a six-month period. Earlier this year, Hill & Wilkinson received two other UT OFPC SILVER STEP awards for the firm's work on the renovation/expansion of the Engineering and Sciences-University Center at the University of Texas at Tyler and new construction of the Student Services Building at the University of Texas at Dallas.