Southern Properties Capital, Transcontinental Realty Investors & Regis Property Management Signed Over Four Hundred Thousand ...
October 30 2017 - 8:00AM
Business Wire
Regis Property Management LLC leased over four hundred thousand
square feet so far for 2017. These leases were achieved with new
and renewing tenants representing over $32 million in gross
effective rent.
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Browning Place office complex at Mercer
Crossing in Dallas, Texas (Photo: Business Wire)
Regis’s most significant transaction was in Southern Properties
Capital asset Browning Place, located in the Mercer Crossing mixed
use development. Pacific Union Financial expanded into new space
increasing their footprint by over 132,000 square feet. Pacific
Union is a full-service mortgage company, located in Irving, Texas,
with fulfillment centers in Texas, California, Virginia, and North
Carolina and more than 40 branch locations across the country.
Pioneer RX, an industry leading pharmacy software development
and support company, also expanded their current lease to include
the entire 20,000 square foot top floor of Southern Properties
Capital asset 600 Las Colinas. Both deals were brokered by
Transwestern and Jones Lang LaSalle. Other new and renewed tenants
include Liberty Bankers Life Insurance Company, PBK Architects, CHC
Helicopter Services, and NTT Data Consulting.
Scott Porter, President of Regis Property Management, commented,
“Regis staff, Transwestern, and JLL continue to work together to
create successful leasing strategies for Regis’s commercial
portfolio. We’re looking forward to an even busier 2018 and
watching Mercer Crossing continue to grow right outside our
windows.”
Browning Place office community located at Lyndon B. Johnson
Freeway and Luna Road in Northwest Dallas is an office complex with
tree-lined boulevards forming the entrance. Browning Place consists
of four office buildings with a total of 627,560 square feet with
amenities that include a restaurant, bank, on-site Management, 24/7
courtesy officer and jogging trail.
Mercer Crossing is a mixed use development that will include
office, single family and multifamily residential, hotel, and
retail. There are currently several Class A apartment communities
in the area and construction is already under way east of Luna Road
for the master planned Ashington, Brighton, and Coventry
Communities. Verwood, Windemere, and Amesbury communities will soon
follow. Mercer South will also include a 200 room hotel with a
restaurant row and boardwalk, trails and parks, retail, and
grocery. Builders currently under contract include Beazer Homes,
M/I Homes, W3 Luxury Living, Oakdale Homes, Megatel Homes, Sienna
Homes, and First Texas Homes.
Southern Properties Capital LTD, a British Virgin Islands
corporation (“Southern”) is an indirect subsidiary
of Transcontinental Realty Investors Inc., (NYSE: TCI), a
Dallas-based real estate investment company. 85% of the company’s
properties are located in Texas, where management has intimate
familiarity with sub-markets and unique access to off-market deals.
Southern is committed to developing and managing multifamily assets
in areas with sustainable and viable economic growth; with a focus
on Class A HUD eligible assets that further achieve the company’s
growth strategy; which includes offering and sale of nonconvertible
Series A Bonds with the Tel Aviv Stock Exchange LTD (the
“TASE”).
Transcontinental Realty Investors maintains a strong
emphasis on creating greater shareholder value through acquisition,
financing, operation, developing, and sale of real estate across
every geographic region in the United States. A New York Stock
Exchange company, Transcontinental is traded under the symbol
"TCI". Transcontinental produces revenue through the professional
management of apartments, office buildings, warehouses, and retail
centers that are "undervalued" or "underperforming" at the time of
acquisition. Value is added under Transcontinental ownership, and
the properties are repositioned into higher classifications through
physical improvements and improved management. Transcontinental
also develops new properties, such as luxury apartment homes
principally on land it owns or acquires.
Regis Property Management, LLC is an affiliate of Pillar Income
Asset Management and currently manages 34 commercial properties
comprising in excess of 6 million sq ft. Properties range from
office, warehouse, industrial, to shopping centers. Regis was
selected to manage the property portfolios for three publicly
traded companies as well as several affiliated and nonaffiliated
private companies. Our focus is on individual attention, innovation
and customer satisfaction, a winning combination for everyone.
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version on businesswire.com: http://www.businesswire.com/news/home/20171030005043/en/
Pillar Income Asset ManagementChris Childress,
469-522-4275press@pillarincome.com
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