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Category Archives: Texas

Austin Group Acquires Office Properties in Fort Worth

FORT WORTH –  Pennybacker Capital of Austin purchased the Summit Office Park, a two-building, 242,482-square-foot office complex in Fort Worth. HFF marketed the property on behalf of the seller, Prescott Group.  Pennybacker Capital purchased the asset and HFF assisted in securing acquisition financing on behalf of the buyer.  The seven-year loan was provided by ViewPoint Bank. Summit Office Park is located ... Read More »

CapRidge Partners Snags Austin Office Complex

AUSTIN – CapRidge Partners purchased Caynon at Wild Basin from Boston-based Intercontinental Real Estate Corporation. Mesa West Capital provided CapRidge with the $12.6 million financing for the acquisition and lease up of the 74,580-square-foot office complex.  The three-story building is 81 percent leased. Canyon at Wild Basin is located at 115 Wild Basin Road along Loop 360. According to CBRE, ... Read More »

Austin’s First Downtown Tower Since 2003 to Open Almost Fully Leased

AUSTIN – The 29-story Colorado Tower, the first downtown office tower built in Austin since 2003, will be completed at the end of the year almost fully leased. Cousins Properties I has signed five new leases totaling 157,279 square feet at Colorado Tower in downtown Austin. Leasing at the 373,000 square-foot, Class-A office development is now 95 percent, up from 51 ... Read More »

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 »

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