SVN / Trinity Advisors Closes on Two Recent Industrial Deals

FORT WORTH – December 13, 2017 – James Blake and Carl Brown with SVN / Trinity Advisors recently represented the seller in closing on Eden Drive Warehouse, located at 5955 Eden Drive in Haltom City, TX.  

The industrial property is a 25,600 SF manufacturing warehouse built in 1973 on 0.98 acres of land in Haltom City, TX. It includes an office and production area with grade level and dock high loading doors.  

Blake and Brown represented the seller, the Estate of Charles R. and JoAnn Lewis. Rockin R Realty represented the buyer, ECD9S Properties LLC.   

“Since the market is hot right now for DFW industrial leasing, and the mid-cities area is one of the prime areas that industrial leasing is taking place, this property was in high demand,” Blake said. 

SVN / Trinity Advisor Steve Fithian represented the buyer of an industrial flex building with seven tenants at 1101-1121 Cornell Parkway in Oklahoma City, OK.

The industrial property is a 41,720 SF industrial flex building on 2.57 acres of land with 12 grade level doors and one dock high door. 

Fithian represented the buyer, OKWI, LLC, which is a partnership organized by Fithian to purchase quality investment properties for its partners. David Cook with SVN David Cook, LLC represented the seller. 

“This property is located in one of the best industrial areas in the Oklahoma Metro area and not far from where three major interstates cross,” Fithian said. “After looking at the financials and the occupancy rates, it quickly became apparent this was a fantastic investment opportunity.” 

SVN / Trinity Advisors is a full-service real estate investment and Accredited Management Company in Fort Worth, specializing in brokerage, leasing, consulting and property management throughout the Dallas / Fort Worth area. For more information, visit http://svntrinity.com.   

Rebekah Moore | Office Manager & Marketing Director

SVN | Trinity Advisors – An ACCREDITED MANAGEMENT ORGANIZATION® Firm
3000 Race Street, Ste. 100, Fort Worth, TX 76111 
Office 817.288.5525 | Fax 817.288.5585
Direct 817.288.5506 
rebekah.moore@svn.com | http://svntrinity.com

Fortune 500 Tenant Inks 28k SF Lease at Westridge Center

An undisclosed, NYSE traded/Fortune 500 tenant signed a new 27,574-square-foot lease at Westridge Center at 2020 Westridge Dr. in Irving. The tenant, a leader in the facility services industry, was represented by Fritsche Anderson’s Mike Quinn and Site Selection Group’s Lee Wagner. The landlord was represented by Carter Crow and Todd Jones at Younger Partners, which was brought on by asset management firm, ProEquity Asset Management, who has recently expanded into Texas.

For further information, please contact:

Tonie Auer
214.294.4406
14643 DALLAS PARKWAY, SUITE 950 LB #58
DALLAS, TX 75254
Tonie.Auer@youngerpartners.com

Exclusive: New mixed-use development to rise in the Heights

A new mixed-use development is set to rise on a prime North Shepherd land tract in late 2018.

Capital Retail Properties will develop a 30,000-square-foot mixed-use development at 1533 N. Shepherd Dr. The project, dubbed Market at Houston Heights, will deliver speculative space for tenants in fall 2018, a Capital Retail Properties spokesperson told the Houston Business Journal.

Austin-based Michael Hsu Office of Architecture oversaw the project’s design, which will offer dining and retail, per the spokesperson. Identity Architects is the architect of record. Capital Retail Properties is working in partnership with Randy Wile of Wile Interests Inc. to fund the project. A general contractor hasn’t been hired yet and a firm groundbreaking date hasn’t been set.

Click to read more at Houston Business Journal. 

Houston hotels see boost in third quarter following Hurricane Harvey

The dramatic recovery that Houston’s hotel market made in the third quarter, largely due to Houstonians and rescue workers booking more hotels in the aftermath of Hurricane Harvey, nearly balanced out the market’s slow performance in 2016.

In the third quarter of 2016, Houston’s hotel market saw the nation’s strongest declines in occupancy, revenue per available room (or RevPAR) and average daily rate (or ADR). The city’s occupancy fell a whopping 10.3 percent to 60.2 percent, according to data from STR, a hotel data firm. But in the third quarter of 2017, the city’s hotel market saw a 19.6 increase in occupancy, according to a report from Source Strategies, a Texas-focused hotel consultancy.

Click to read more at Houston Business Journal. 

The old suburban office park is getting a big reboot

The aging office park is getting a face-lift.

Once a proud symbol of suburban working life now suffering from high vacancy rates in many parts of the country, corporate office parks are being reimagined as sports domes, upscale town houses, retail shops and green gathering spaces, among other possibilities.

“It’s an obsolete model for an office,” said Robert Youngentob of the Maryland-based developer EYA, which has begun constructing upscale town houses in sections of an office park in suburban Bethesda, Maryland, including some that are selling for about $1 million.

Click to read more at Houston Business Journal. 

This 57-acre retail project will be a ‘little more special’ than most

More than five years’ worth of strategic land sales and leases in Aliana, a 2,000-acre master-planned community in southwest Houston, preceded NewQuest’s purchase of 57.2 acres in the community for a high-end retail development.

JLL’s Simmi Jaggi and Elizabeth Clampitt were brought on by Aliana Development Co. around six years ago to transform the community into a self-sufficient hub with plenty of retail to cater to Aliana’s rooftops. From the start, Jaggi and Clampitt said their strategy involved bringing storefronts from Target Corp. (NYSE: TGT) and H-E-B to Aliana. From there, other major retailers and developers would follow.

Click to read more at Houston Business Journal.