NEWS AND NOTABLES
DALLAS—Winston & Strawn LLP has expanded its Texas practice with the addition of 23 prominent partners joining from eight different firms and the opening of a Dallas office. The group brings substantial experience in both disputes and transactional matters, including in mergers and acquisitions, securities, finance, real estate, tax, civil/criminal litigation and investigations, and regulatory defense.
DEAL TRACKER
DENVER—Hotel Indigo Denver officially opens its doors. Located at 1801 Wewatta St. in downtown's Union Station neighborhood, the Mile High City's newest boutique-style hotel features 180 guestrooms and 1,188 square feet of meeting and event space.
DENVER—Buchanan Street Partners acquired 5613 DTC, a 224,015-square-foot transit-oriented office tower located at 5613 DTC Parkway. Buchanan Street purchased the building from SteelWave LLC with plans to complete extensive improvements that will attract tenants seeking a first-class office environment in a premier office submarket.
DENVER—Trammell Crow Company facilitated another building sale at Crossroads Commerce Park. Sierra Pacific Industries has purchased a new 52,566-square-foot industrial facility located at the northwest corner of 52nd Avenue and Washington Street in unincorporated Adams County. Construction started last summer and was completed this week.
DENTON, TX—Rowan Properties represented the seller in an off-market transaction of the 308-unit Parks of Denton apartments. This was the first purchase in Denton County for the California investment group and the third sale in Denton County for Rowan Properties in the last six months. The sale represents one of the highest price per unit/square foot sales for 80s-vintage properties to date in the Denton market.
FLINT, TX—Best Choice Storage, a 38,526 rentable square foot self-storage facility, has sold. Mark V. Diebold and Jon Danklefs, investment specialists in Marcus & Millichap's San Antonio office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer, a limited liability company.
HOUSTON—Boxer Property has concluded lease renewal and expansion negotiations with Bee Busy Learning Academy Inc., a non-profit organization that provides prevention services. Having been a valued tenant of Boxer Property since 2013, the growing nonprofit organization has expanded its office space bringing its total size to approximately 19,000 square feet at 9896 Bissonnet St. in Southwest Houston.
RICHARDSON, TX—JLL negotiated a 64,916-square-foot office lease on behalf of Service King Collision Repair Centers. The automotive repair company will open new offices at Galatyn Commons, located at 2375 North Glenville Dr. The new home office will initially house approximately 170 Service King teammates, who will be relocating from the company's current home office in Richardson's Tower 2600. Service King expects to take occupancy of the new office by summer 2017. Dallas-based architecture and design firm, Corgan, is planning the facility's interior design prior to build-out.
NEWS AND NOTABLES
DALLAS—
DEAL TRACKER
DENVER—Hotel Indigo Denver officially opens its doors. Located at 1801 Wewatta St. in downtown's Union Station neighborhood, the Mile High City's newest boutique-style hotel features 180 guestrooms and 1,188 square feet of meeting and event space.
DENVER—Buchanan Street Partners acquired 5613 DTC, a 224,015-square-foot transit-oriented office tower located at 5613 DTC Parkway. Buchanan Street purchased the building from SteelWave LLC with plans to complete extensive improvements that will attract tenants seeking a first-class office environment in a premier office submarket.
DENVER—Trammell Crow Company facilitated another building sale at Crossroads Commerce Park. Sierra Pacific Industries has purchased a new 52,566-square-foot industrial facility located at the northwest corner of 52nd Avenue and Washington Street in unincorporated Adams County. Construction started last summer and was completed this week.
DENTON, TX—Rowan Properties represented the seller in an off-market transaction of the 308-unit Parks of Denton apartments. This was the first purchase in Denton County for the California investment group and the third sale in Denton County for Rowan Properties in the last six months. The sale represents one of the highest price per unit/square foot sales for 80s-vintage properties to date in the Denton market.
FLINT, TX—Best Choice Storage, a 38,526 rentable square foot self-storage facility, has sold. Mark V. Diebold and Jon Danklefs, investment specialists in Marcus & Millichap's San Antonio office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer, a limited liability company.
HOUSTON—Boxer Property has concluded lease renewal and expansion negotiations with Bee Busy Learning Academy Inc., a non-profit organization that provides prevention services. Having been a valued tenant of Boxer Property since 2013, the growing nonprofit organization has expanded its office space bringing its total size to approximately 19,000 square feet at 9896 Bissonnet St. in Southwest Houston.
RICHARDSON, TX—JLL negotiated a 64,916-square-foot office lease on behalf of Service King Collision Repair Centers. The automotive repair company will open new offices at Galatyn Commons, located at 2375 North Glenville Dr. The new home office will initially house approximately 170 Service King teammates, who will be relocating from the company's current home office in Richardson's Tower 2600. Service King expects to take occupancy of the new office by summer 2017. Dallas-based architecture and design firm, Corgan, is planning the facility's interior design prior to build-out.
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