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Real Deals: Crescent, two firms join on Colorado project

🕐 3 min read

Goldman Sachs Asset Management Private Real Estate and Lionstone Investments has joined with Fort Worth-based Crescent Real Estate Equities LLC to invest in 17 buildings and a development site owned by Crescent since 2011 in Flatiron Park, Boulder, Colorado. The partners also bought four more buildings in Flatiron Park, bringing the total portfolio to 21 buildings totaling 859,158 square feet and the development site.

Crescent will serve as general partner and will manage, lease and market the buildings for the partnership.

“Crescent has demonstrated its commitment to Boulder’s Flatiron Park by adding two successful commercial real estate investors as partners and adding four additional buildings to the partnership’s portfolio,” said Conrad Suszynski, co-CEO of Crescent Real Estate LLC. “We are looking forward to continuing the transformation of our buildings in the park into an exciting office space for tenants in Boulder who have outgrown inefficient downtown spaces.”

Flatiron Park is a 200-acre master-planned business park that comprises over 100 buildings with 2.3 million rentable square feet. It is home to more than 100 companies across diversified industries, with a high concentration of technology-related firms as well as other companies that favor an open floor plan and creative office environment. Most of the portfolio has been converted to creative office use, providing cutting-edge spaces for tenants competing to attract top employees.

SALES

Jim Barrett purchased a 3,284-square-foot building located at 9125 Belshire Drive in North Richland Hills. Colt Power of NAI Robert Lynn represented the buyer. Brian Tobey of The Makens Co. represented the seller.

Moorman Meador sold a 57,893-square-foot retail building at 2301 and 2351 S.E. Loop 820 and 5150 Campus Dive in Fort Worth to Cidema Three Limited Partnership. Todd Hawpe and Jeff Givens with Transwestern represented the seller.

300 Arbrook LP sold a 22,666-square-foot office building at 300 W. Arbrook Blvd. in Arlington to Arbrook Investment Properties LLC. Jim Sager with Transwestern represented the seller.

Hassan Kalie sold an 11,850-square-foot retail building at 3542 Alta Mere Drive in Fort Worth to 2SP Partners LLC. Gibson Duwe with Transwestern negotiated the transaction.

SCC Summit Partners LLC sold a 4,227-square-foot office building at 1598 Sunset Terrace in Fort Worth to Bell Creek Realty LLC. Grant Huff, Jack Huff and Kyle Poulson with Transwestern represented the seller.

LEASES

Texas Family Fitness has leased 20,700 square feet of retail space at 1320 Airport Freeway, No. A, in Bedford. Dan Avnery of NAI Robert Lynn represented the tenant.

Farris Laboratories, a company that supplies allergists with medical supplies, has leased 1,350 square feet of space at 6430 Brentwood Stair Road from J.V. Leggett Inc. Margaret Simmons and Dick Myers of Vasseur Commercial Real Estate Inc. represented the landlord.

Israel Orji d/b/a Treasure Hub LLC has leased 1,570 square feet at 6436 Brentwood Stair Road from J.V. Leggett Inc. Margaret Simmons and Dick Myers of Vasseur Commercial Real Estate Inc. represented the landlord.

Trademark Electric Inc. has leased 6,000 square feet at 3200 Joyce Drive in Fort Worth from Wade Harral Trust. Trademark specializes in railroad electrical work. Chris L. Stewart of Vasseur Commercial Real Estate Inc. represented the landlord.

Dynamic Systems Inc. has leased 1,000 square feet of space at 3108 West Sixth St. from 3108 Partners Ltd. Chris L. Stewart of Vasseur Commercial Real Estate Inc. represented the tenant. Kirk Kelly of Transwestern represented the landlord.

Send real estate news to Robert Francis at rfrancis@bizpress.net.

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