PHOENIX-Metrocenter Mall, owned by Carlyle Development Group, signed 55,000 square feet in leases during the first half of 2013. The most recent lease at the 1.3-million-square-foot mall involved 13,327 square feet negotiated with junior clothing retailer Rainbow Shops.
Based in New York, Rainbow Shops offers clothing for juniors, plus sizes and children, as well as an extensive shoe collection. It will open its Metrocenter Mall location on August 18. The retailer operates nine other locations in Arizona, and with sister brands 579 and Marianne operates more than 1,000 total locations in 37 states, Puerto Rico and the US Virgin Islands.
“Rainbow is a growing, nationally known tenant that will add a fun new dimension to our mix of existing clothing stores, including Dillard's, Macy's, Sears, Aéropostale and Charlotte Russe,” says Metrocenter Mall senior vice president of leasing Anita Blackford. “We're thrilled to welcome them.”
According to Blackford and specialty leasing manager Jessica Theberge, the mall at 9617 N. Metro Pkwy. W. is in negotiations now with several other national fashion retailers, and hopes to welcome those companies to the mall later this year and into 2014.
Other new mall leases completed by Blackford and Theberge in Q2 2013 include:
- Denali Contemporary Furniture – 7,457 square feet, opened in June.
- Vision Mattress Depot – 4,320 square feet, opening in second quarter.
- International Cancer Advocacy Network – 2,385 square feet, opened in June.
- Pop Shots Photo – 2,130 square feet, opened in July.
- All American Burger – 1,043 square feet, opened in July.
- Cinnabon – 774-square-foot renovation as new company prototype, opening by fourth quarter.
- Jewelry World – 592 square feet via in-line store and kiosk, opened in June.
These tenants join a 15,000-square-foot Ashley Furniture, 7,166-square-foot Scottsdale International Auto Museum and 1,002-square-foot Metrocenter Arcade, which all opened at Metrocenter Mall during first quarter 2013.
ACQUISITIONS/DISPOSITIONS
ARIZONA
Phoenix
- RBS Investments acquired an industrial warehouse at 1645 N. 46th St. from Azber LLC and Berger Transfer & Storage Inc. for $1.65 million. Cassidy Turley's Kent Hanson represented the buyer. Marc Pierce and Scott Smith represented the sellers. Berger occupies the entire property and is going to remain a tenant. The building features 12,160 square feet of warehouse space and 1,920 square feet of office space and sits on 3.6 acres.
TEXAS
Arlington
- DJS Property LLC purchased a 4,535-square-foot building at 3216 W. Arkansas Lane and will complete the interior construction and relocate the law offices of Donna J. Smiedt in the building. Beaux Riley with SCM Real Estate Services represented the landlord, and Onofre Chapa with Ebby Halliday represented the tenant in this transaction.
Austin
- The former Hai Ky restaurant at 2000 Guadalupe has sold. Tucker Francis and Herman Tjahja of Retail Solutions represented the business seller.
Fort Worth
- Hillwood Development sold a 2.3-acre pad site at the southeast corner of Interstate 35W and Golden Triangle Boulevard, next to the new Texas Health Harris Methodist Hospital in Alliance Texas. The buyer, RaceTrac Petroleum, Inc. will develop the site for a RaceTrac gas station and convenience store. Katie Vance, Ken Reimer and David Davidson Jr. with Venture Commercial brokered the transaction.
Houston
- Bayou Well Classics LLC acquired an 11,185-square-foot showroom/warehouse building at 8007 Kempwood. John Feruzzo and Chris Kugle of NAI Houston represented seller, 8007 Kempwood Ltd. Jim Vann of Moody Rambin Interests represented the buyer.
- DSDY Real Estate LLC bought a 37,500-square-foot warehouse building at 9200 Telephone Rd. John Ferruzzo and Clay Pritchett of NAI Houston represented the seller, Eastpark Partners Ltd. Doyle Toups of Moody Rambin Interests represented the buyer
- K. Hovnanian Homes acquired 4.5 acres on the northwest corner of Oxford Park and Westminster Drives. The buyer plans to build townhomes on the acreage. Henry S. Miller Brokerage's Bruce Jester and Tom Grunnah negotiated the transaction.
- A Texas investment group acquired the 76-unit Memorial Trails from a California seller. Mike Miller, Chris Ross and Will Caruth with Hendricks-Berkadia brokered the transaction for the property at 14900 Memorial Dr.
LEASING
TEXAS
Austin
- Austex Construction leased 1,778 square feet at Lake Creek Square, 12129 Farm-to-Market 620. Andrew Perkel of Retail Solutions represented the tenant, and Monica Moore of Live Oak Gottesman represented the landlord.
- Do It Best Hardware leased 10,000 square feet at Tanglewood Village, 2110 Slaughter Lane. David Schoenemann and Carter Bailey of Retail Solutions represented the landlord.
- Springleaf Financial leased 1,200 square feet at Towne Square, 1901 W. William Cannon. Cole Brodhead and Jerel Choate of Retail Solutions represented the landlord.
- Brodhead, teaming with Retail Solutions' Tucker Francis, also represented the landlord of 1901 W. William Cannon in a 1,008-square-foot lease to Create-A-Cig. Mike Dee of Lone Star Luxury Realty represented the tenant.
- Metro PCS leased 505 square feet at Rundberg Square, 825 E. Rundberg Lane. TJ Powell of Retail Solutions represented the tenant, and Cole Brodhead, also of Retail Solutions represented the landlord.
- Metro PCS also leased 950 square feet at 8801 Research Blvd. TJ Powell of Retail Solutions represented the tenant.
- Taco More Meat Market leased 3,200 square feet at North Park Shopping Center, 9616 N. Lamar. David Schoenemann and Cole Brodhead of Retail Solutions represented the landlord.
- Union Brew leased 3,100 square feet at Arbor Town Square, 10717 Research Blvd. Carter Bailey and Cole Brodhead of Retail Solutions represented the landlord, and Matthew Pipkin of Pipkin Investments represented the tenant.
Carrollton
- Custom Assembly, Inc. leased 110,700 square feet at 1228 Crowley Dr. Blake Kendrick of Stream Realty represented the tenant in the deal. The building is currently owned by IndCor and is represented by Stream Realty.
Coppell
- The Lawrence Group leased 23,080 square feet at 1461 S. Belt Line Rd. Luke Davis and Blake Kendrick of Stream Realty represented the tenant in the transaction. The landlord was represented by Peter Yates from Lincoln Property Co.
Dallas
- Henry S. Miller Cos. is relocating its office from Providence Towers in North Dallas to Stanford Corporate Centre, 14001 Dallas North Tollway. Greg Trout with Henry S. Miller Brokerage is representing the tenant in the transaction. Representing Stanford in the transaction were Duane Henley of Transwestern and Scott Porter of Regis Realty.
- ISN Software Corp. expanded and extended its lease at One McKinney Plaza. ISN will lease an additional 37,000 square feet on the third and fourth floors, bringing the information services company's total square footage in One McKinney Plaza to 70,000. ISN will be the largest tenant in the 263,921-square-foot Class A building. Craig Wilson and Randy Cooper of Cassidy Turley represented ISN.
- Masala Wok leased 2,465 square feet at Preston Center on Northwest Highway and Preston Rd. Jason Puig with SRS Real Estate Partners represented the tenant, Masala Wok, in the transaction. Tim Thompson with Crestview Real Estate represented the landlord.
- MidSouth Marine Group signed a five-year lease for 35,561 square feet at 8811 John Carpenter Fwy. Monika Guzman-Perez with SCM Real Estate Services represented the tenant, and Greg Cannon with Transwestern represented the landlord in this transaction.
- Premier Business Centers leased 12,061 square feet at Two Turtle Creek Village, 3838 Oak Lawn. The landlord is TC PROPCO II LP.
- Southern Tire Mart leased 7,200 square feet at 2728 N. Westmoreland. Huntley Luna with Henry S. Miller Brokerage negotiated the lease.
- Wildernest Logistics signed a 101,900-square-foot lease at 9000 N. Royal Lane. Jeremy Kelly and Blake Kendrick of Stream Realty represented the landlord, Prologis, in the transaction while Rick Medinis with NAI Robert Lynn represented the tenant.
Flower Mound
- All Boxed Up leased 27,121 square feet at 1200 Lakeside. Blake Kendrick of Stream Realty represented the tenant in lease negotiations, while Corbin Crews with CBRE represented the landlord, Colony Realty Partners.
Fort Worth
- Kubota Tractor Corp. leased 44,000 square feet of warehouse space in CentrePort Business Park 3, 4300 Diplomacy Rd., from Valwood 501 (25) Inc. Michael W. Spain and Joe Santaularia of Bradford Commercial Real Estate Services represented the landlord. Steve Koldyke of CBRE represented the tenant.
- Northern Trust signed a lease for 5,500 square feet in the DR Horton Tower, a 38-story building located at 301 Commerce St. Bill Booker and Robert Gamblin were in-house representatives for the landlord, Sundance Square. Pat McDowell with Jones Lang LaSalle represented Northern Trust.
Houston
- Natex - Amd renewed 3,000 square feet at 2500 Wilcrest Dr. Kurt Kistler and Griffin Jaggard of Moody Rambin represented the building owner in negotiations.
- Omaha & South Texas Land Company LLC negotiated a lease with a restaurant tenant for 4,900 square feet at 1001 Studewood St. Christopher Dray with Moody Rambin represented the landlord. Tenant Yucatan Taco Stand and Tequila Bar was represented by Mark Raines with CBRE.
Irving
- Altus Traffic USA leased 17,484 square feet of warehouse space at 511 Compton Ave.from Walter S. Baudoin. Brock Wilson and Joe Santaularia with Bradford Commercial Real Estate Services represented the tenant. Julie Sullins of Sullins Team Inc. represented the landlord.
- Heartland Automotive expanded its lease by 1,473 square feet in Crestview Tower, 105 Decker Court. Tim O. Terrell, Beth Boyd and Kendall Cramer of Stream Realty represented the landlord in the transaction, while Heartland Automotive was represented by Jeff Eiting of CBRE.
- Terrell, Boyd and Cramer also represented the landlord of 105 Decker Court in a 2,468-square-foot lease with Workway. The tenant was represented by Grant English of Transwestern.
- Versona Accessories leased 6,500 square feet in the MacArthur Park shopping center, on the southeast corner of North MacArthur Boulevard and Interstate 635. Dawn Greiner and Rick Ikeler with SRS Real Estate Partners represented the tenant. Michael Hale with AmREIT represented the landlord.
Mesquite
- Traffic Signal Inc. renewed 10,478 square feet of warehouse space in Eastpoint IV, 1801 Big Town Blvd. Michael T. Grant of Bradford Commercial Real Estate Services represented the tenant. John Hendricks of CBRE represented the landlord, Eastpoint Business Center Inc.
San Antonio
- Alamo I leased 11,156 square feet at the IBC Bank Building, 12400 San Pedro. Scott Wolff and Larry Mendez with Transwestern represented the landlrod. Jeff Miller of Travis Commercial Real Estate represented the tenant.
- Friedrich Air Conditioning Co. leased 17,600 square feet at Isom Business Center, 919-995 Isom Rd. Chuck King of Travis Commercial Real Estate Services Ltd. represented the tenant. Jason Schnittger with Stream Realty Partners represented the landlord, DRA Advisors.
MARKETING/LEASING ASSIGNMENTS
TEXAS
San Antonio
- AFO Capital Ltd. has awarded the management and leasing assignment at Twin Oaks Corporate Park to CBRE. The Class A property is at consists of two office towers at 211 and 227 North Loop 1604, which totals 166,425 square feet. Steve Thomas with CBRE's San Antonio office, will handle leasing. CBRE's real estate manager Kelly Mizell will oversee on-site property management.
CAPITAL MARKETS
ARIZONA
Glendale
- James DuMars with NorthMarq arranged acquisition financing of $6.45 million for 5445 W. Missouri Ave. This asset is a 106,000-square-foot office/warehouse building 100% leased to Sprouts. Financing was based on a seven-year term and a 21-year amortization schedule. NorthMarq arranged this financing for the borrower, WAM (US) Glendale LP, through its relationship with a local bank.
TEXAS
Irving
- The Debt and Equity Finance Group of CBRE Capital Markets in Dallas arranged financing for 1212 Corporate Dr. a 124,128-square-foot, multi-tenant office building. CBRE worked on behalf of Libitzky Holdings LP to obtain an $8 million loan through German American Capital Corp., an affiliate of Deutsche Bank. The 10-year, fixed-rate financing carries a one-year interest-only component. Libitzky acquired the property in 2011 when it was entirely vacant and immediately entered into a highly successful campaign to re-stabilize the building with multiple tenants. The team of Greg Greene, Matt Ballard and Patrick Benoist of CBRE's Debt and Equity Finance group sourced and secured the financing on behalf of the borrower.
EXECUTIVE MOVES
ARIZONA
Scottsdale
- Scott D. German has joined Colliers International Greater Phoenix as vice president of office properties for its Scottsdale office. German previously was at CBRE. He also was a vice president at NAI Horizon and a senior associate for almost 10 years at CBS Property Services. German earned his bachelor's degree in finance from Arizona State University.
- Lawrence (Larry) Pobuda has joined Transwestern as senior vice president. Pobuda arrives from Minneapolis where he co-founded Stewart Lawrence Group, a partnership involved in acquiring and developing commercial real estate assets. He also served as senior vice president and member of the five-person executive team at United Properties/NorthMarq and has also worked with Trammell Crow Co. Pobuda also served as the 2010 National Chair of NAIOP.
TEXAS
Dallas
- Fred Dumlao has joined Henry S. Miller Brokerage as associate. Prior to joining the Miller team, Dumlao was the director of commercial services at Victor Myers Commercial; before Victor Myers, he was an associate at Scott Brown Commercial.
Houston
- Kim Croley has been promoted to senior vice president − national marketing and communications with Transwestern, and has been appointed to Transwestern's Board of Directors and Executive Committee. Croley, who previously held the title of director − national marketing and communications, will continue to report to Transwestern COO Mark Doran. Croley has been with the company for 14 years.
- Douglas Pack joined NAI Houston as an executive vice president. Pack started his commercial real estate career with Boxer Property in 1994 and during his tenure, held several leadership positions in both leasing and operations. Pack is a graduate of University of Houston where he earned his degree in communications.
- Tom Getty has joined Boxer Property's leasing team as Director of Sales. Getty brings more than 20 years of experience managing sales and service teams across the country. Getty is a graduate of the University of Texas.
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