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Category Archives: Texas

Barton Springs Office Building Sold in Austin

AUSTIN – Transwestern  brokered the disposition of 811 Barton Springs on behalf of the Seller to a fund managed by Cornerstone Real Estate Advisers. 811 Barton Springs is a 143,183 square foot Class A multitenant office building located in between Austin’s Central Business District and Southwest submarkets, two of the most desirable submarkets in Austin. The 9-story property was 99% leased at the ... Read More »

Gaedeke Group Announces Renovation

DALLAS – Gaedeke Group LLC is renovating its 128,795-sf Oak Lawn Plaza with a $3.8 million ground-breaking redesign. “It’s going to be a major change,” says CEO Sabine Gaedeke Stener, whose firm has commissioned architect Mark Dilworth of Dallas-based Morrison, Dilworth + Walls to create a new design. Construction tentatively is slated to start in October. The award-winning architectural firm ... Read More »

Marriott to Build Next to Billy Bob’s – The World’s Largest Honky Tonk

FORT WORTH – A hotel developer has purchased a site next to Billy Bob’s Texas, which bills itself as the “world’s largest honky-tonk” in Fort Worth’s well-known tourist area, the Stockyards National Historic District. The site was acquired by Sunbelt-CFX, LLC, which intends to start construction on a 124-room Marriott Courtyard immediately. It is within walking distance of the Texas ... Read More »

Pier I Headquarters Building in Ft. Worth Purchased by Hines

FORT WORTH – Hines, the Houston-based real estate firm, has acquired the landmark Chesapeake Plaza, a 409,977-square-foot, 20-story, office building located on more than 14 acres of land along the Trinity River in Fort Worth’s central business district. Pier I Imports, the décor and furniture retailer, has its headquarters in the building, occupying 313,000 square feet. Hines said the building ... Read More »

REIT Buys Boutique Ashton Hotel in Downtown Ft. Worth

FORT WORTH – CBRE Hotels announced the sale of The Ashton Hotel, a 39-unit historic boutique hotel in downtown Fort Worth. Ashton Hotel Partners sold the property to Ashford Hospitality Trust, a Dallas-based hotel REIT, which plans additional renovations. The REIT owns a nearby Hilton property. The Ashton Hotel, 610 Main, first opened in 1890 (two-story) and 1915 (six-story). Following ... Read More »

Canadians Buy 49-Story Tower in Dallas

DALLAS – A Canadian investment group has purchased the 49-story 1700 Pacific office tower in the Dallas Central Business District – the sixth downtown office tower to sell in 2014. Quebec, Canada-based Olymbec Group acquired the 1.3 million square feet, three levels of on-site parking and an off-site parking garage connected via enclosed sky bridges. The property also includes concourse-level ... Read More »

Regency Centers Offers to Buy AmReit for $433 Million

HOUSTON – Regency Centers Corp, of Jacksonville, Fla. has made a bid to acquire Houston-based AmReit for $22 per share or $433 million.  Both REITs have significant retail center portfolios. In a press release issued Thursday, Regency published its letter to H. Kerr Taylor, AmREIT’s chairman and CEO. “We are making this letter public because we feel that the potential ... Read More »

EastGroup Properties REIT Buys Austin Industrial

AUSTIN - EastGroup Properties acquired the Centerpoint @ Colorado Crossing, a 265,099-square-foot, four-building industrial complex in east Austin. The transaction was announced by CBRE. The Class A development was constructed in 2009 and is 100 percent leased. The four buildings are made up of an average of 24 prcent office and 76 percent light industrial. Centerpoint @ Colorado Crossing is located on ... Read More »

Border Play: IndCor Buys 1 Million SF of Industrial in El Paso

EL PASO, Texas – IndCor Properties purchased the 10/375 Industrial Portfolio, totaling 1,095,407 square feet in El Paso, Texas. The portfolio includes seven Class A bulk distribution buildings that are 83% occupied. Tenants include ProTrans International, Inc., Electrical Components International, and Handgards, Inc. All buildings were constructed between 1994 and 1996, and feature 24-foot to 30-foot minimum clear height; 120-foot to ... Read More »

Goddard Buys Fountain Place Tower in Dallas for $200 Million

DALLAS – Atlanta-based Goddard Investment Group, LLC, has acquired Fountain Place, one of the most recognizable skyscrapers in Texas for a reported $200 million. The 58-story office tower, located near the Arts District in Dallas, was built in 1986. Goddard partnered with an arm of Metropolitan Life Insurance to make the acquisition for a price that was close to $200 ... Read More »

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