The Halsted Pershing Business Center is 100% leased to three tenants with an average of four years of term remaining, ensuring stable, long-term occupancy. Additionally, the property features a recently renewed 6b tax classification, enhancing its appeal and value in the competitive Chicago industrial market. 

Stream Executive Managing Director & Partner Patrick Russo, Portfolio Manager Mustafa Ali, and Associate Ben Harrison facilitated the acquisition. JLL’s Capital Markets team, which included Ed Halaburt, Sean Devaney, John Huguenard, Kurt Sarbaugh, Will McCormack, and local market expert Michael Conway, represented the seller.  

“Acquiring the Halsted Pershing Business Center is a significant step for Stream as we expand our industrial portfolio and service business in Chicago and the Midwest,” said Russo. “This property exemplifies our commitment to investing in high-quality, strategically located industrial assets that provide long-term value.”  

“The acquisition is a play on the tight supply and demand fundamentals in South Chicago, especially on the small tenant side,” said Ali. “The Stockyards submarket has become one of the most concentrated areas of new tenant demand for cold storage and food users in Chicago.” 

Halsted Pershing Business Center was acquired and overseen by Stream’s Investment Management team, which leverages expertise from Stream’s 16 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream currently manages a portfolio of 41 investments, totaling 23.2 million square feet and approximately $2 billion of equity, across five commingled funds, several joint venture vehicles, and wholly-owned assets. 

For more information, contact Stream Chicago at 312.801.9396.  

About Stream Realty Partners 

Stream Realty Partners is a national commercial real estate firm offering an integrated platform of leasing, investment and development services. This includes tenant and landlord representation, Legendary CX property management, capital markets, investment management and sales, construction, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,400 professionals and now completes annual transactions valued at more than $8.8 billion in office, industrial, retail, healthcare, land, and data center properties. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook. 

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 1899 L, which was recently acquired by Taicoon Property Partners, is a landmark 152,000-square-foot office building situated along 19th Street’s vibrant “Restaurant Row.” Renovations in 2022 included the main lobby, elevator cabs, a chilled beam mechanical system, a conference center, a fitness center, a bike room, and more.  

 Future renovations planned by Taicoon Property Partners will feature an updated façade, enhanced restrooms, and common areas, redesigned retail storefronts, and a comprehensive modernization of the building’s amenities and infrastructure.  

 “As the proud new owner of 1899 L, I am thrilled to announce exciting renovations that will create an unparalleled environment for tenants and visitors alike,” said Hai Chien Wang, CEO and Co-Founder of Taicoon Property Partners. “This repositioning underscores our commitment to fostering a vibrant community and premier space-making for businesses and professionals.”  

 “1899 L has always had significant potential given its strategic location in the heart of the CBD,” said Stream Managing Director Matt Pacinelli. “We are excited to partner with Taicoon Property Partners to further enhance the building and deliver one of the most compelling office projects in Downtown D.C.”  

 Stream represented Taicoon Property Partners in the acquisition, with Managing Directors Charlie Smiroldo and Matt Pacinelli leading the buyer representation. The sale was facilitated by Collins Ege and Bradley Allen of Eastdil Secured, who represented the seller.   

 In addition to advising on the acquisition, Stream also serves as the leasing agent for the building. Office suites from 2,500 square feet to 13,000 square feet are currently available. For leasing information, contact Matt Pacinelli, Vanessa Carrion, or Kenneth Williams of Stream Washington, D.C., at 202.595.1400.  

About Taicoon Property Partners 

Taicoon Property Partners is a forward-thinking real estate development company in the Washington, D.C. area revolutionizing the industry through creative and innovative approaches that add significant value to properties.  By constantly challenging traditional norms, we strive to set new benchmarks in the real estate sector and deliver exceptional value to our clients and stakeholders.   

Our company vision is to be recognized as a trailblazer in the real estate industry, setting new standards for innovation, creative adaptive use of space, and a belief in community-focused development.     

About Stream Realty Partners 

Stream Realty Partners is a national commercial real estate firm offering an integrated platform of services, including leasing, Legendary CX property management, tenant and landlord representation, capital markets, investment management and sales, development, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,400 professionals and now completes more than $8.8 billion annually in office, industrial, retail, healthcare, land, and data center transactions. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook. 

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Stream, a national commercial real estate firm offering an integrated platform of services, has unveiled plans for the 968,475-square-foot Buda Commerce Center in Buda, the 413,388-square-foot Eastside Commerce Center in Southeast Austin, and the 376,380-square-foot Howard 130 in Northeast Austin.

Buda Commerce Center

Buda Commerce Center will be a five-building, state-of-the-art industrial development in Buda, one of Austin’s fastest-growing suburbs. Stream kicked off construction at the 70-acre site, located 15 miles south of downtown Austin, in the fourth quarter of 2022. The project will cater to a variety of users with its four rear-load buildings and one cross-dock building. Direct ingress and egress access to Interstate 35, 32-foot and 36-foot clear heights, full-size truck courts, and dock-high loading provide convenience for truck drivers.

Positioned 10 miles south of the Southeast industrial submarket, the center will provide top-of-class, competitive space with access to a growing number of rooftops on the south side of Austin. The development at Interstate 35 between Cabelas Drive and Robert S. Light Boulevard boasts unencumbered views from the main lanes of IH-35, granting prime signage opportunities for tenants. The anticipated completion date is the fourth quarter of 2023.

“We have extensive leasing experience in the IH-35 corridor, and we believe the new Buda development will meet the demands of modern industrial tenants,” said Sam Owen, Managing Director and Partner at Stream Austin. “Buda and the IH-35 corridor have historically been underserved markets, and we are excited to provide a range of Class A options that will help fulfill demand and serve the supply chain locally, regionally, and nationally.”

For information on Buda Commerce Center, visit www.budacommerce.com.

Eastside Commerce Center

Stream has also begun construction on Eastside Commerce Center, a modern infill industrial complex in a well-established area of Southeast Austin. With modern construction, prime visibility, and an ideal infill location, the project will offer a new level of access and efficiency for businesses in the area.

The Class A industrial development features four large warehouse buildings as well as three shallow bay buildings that can accommodate smaller tenants. The site is well-positioned off Highway 71 with easy access from Highway 183. The center is across Highway 71 from Austin-Bergstrom International Airport and a 10-minute drive from Downtown Austin. The project is expected to deliver in the first quarter of 2024.

For information on Eastside Commerce Center, visit www.eastsidecommerce.com.

Howard 130

Howard 130 in Northeast Austin rounds out Stream’s recent industrial projects. It is set to deliver in the second quarter of 2023. Located between I-35 and SH-130 in one of Austin’s fastest-growing industrial areas, this single-phase, three-building project is 20 minutes from The Domain and Downtown Austin.

The Class A distribution warehouse development will offer easy accessibility and unmatched quality of construction in an area surrounded by some of Austin’s largest corporate companies.

“Stream is excited to kick off the development of these three Class A industrial projects, and we look forward to delivering a best-in-class industrial product to both Buda and Austin,” said Clay Golden, Stream Austin’s Senior Vice President of Development.

Stream Austin leases and manages over 24 million square feet of office and industrial space in Austin and surrounding areas, giving the team extensive market expertise–which led to these developments in the expanding Austin suburbs.

For information on Howard 130, visit www.howard130.com.

Buda Commerce Center, Eastside Commerce Center, and Howard 130 are owned and managed by Stream Austin and Stream’s Investment Management Platform, which leverages expertise from 15 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively owns 31 investments of 21 million square feet and approximately $3.1 billion in assets under management.

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The first parcel, located in the South submarket at the intersection of Kirby Drive and North Spectrum Boulevard, spans 24.4 acres. With proximity to major thoroughfares, including Beltway 8 and Highway 288, and high visibility from Beltway 8, the site’s location and direct access to Greater Houston make it an ideal location for future tenants seeking to establish a presence in the region. Corporate neighbors include Amazon, Target, Penske, Daikin, Memorial Hermann, Mitsubishi and Yokohama.

The second site, situated in the North submarket with frontage along Holzwarth Road, comprises 16.3 acres. Located near the intersection of Interstate 45 and State Highway 99, this parcel is ideal for prospective tenants looking for connectivity and convenience to greater north Houston, including the Woodlands, Spring, Conroe and Tomball jurisdictions. The growing density of these population centers presents a unique demand opportunity in a supply-constrained subset of industrial space.

“In the face of an exceptionally challenging capital markets environment, Stream was able to successfully close on two tactical land acquisitions within a month,” said Justin Robinson, Partner and Executive Managing Director of Stream’s Industrial Development Services division. “While other industry players may be putting their pencils down, Stream is boldly positioning itself for success in anticipation of a market upturn. Our proactive approach and ability to secure these irreplaceable sites affirm our commitment to being first movers, strategically positioned to strike in an increasingly supply-constrained market in the coming years.”

The acquisition of the 24.4 acres on Kirby Drive was handled by Stream’s Industrial Development Services team, including Robinson, Senior Director Tyler Wellborn, Director Craig McKenna and Director Kyle Fletcher. The tract off Holzwarth Road was handled by Grant Wisenbaker, along with Robinson, Wellborn and McKenna.

Both acquisitions will be overseen by Stream’s Investment Management team, which leverages expertise from Stream’s 15 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively manages four discretionary commingled funds, in addition to several joint ventures and wholly-owned assets totaling 32 investments of 21.7 million square feet and approximately $3 billion in assets under management.

For additional information, contact Stream Houston at 713.300.0300.

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KHD Group, a furniture vendor and supplier that started its business with the VECELO brand, will occupy Stream Realty Partners’ Raceway Northwest Distribution Center at 9707 Fairbanks North Houston Road. Stream, a national commercial real estate firm offering an integrated platform of services, announced the completion of the warehouse in March.

Stream Houston Senior Vice Presidents Jeremy Lumbreras and Boone Smith were instrumental in identifying and securing the tenant for the development. Kyle Fletcher, a Houston-based Director on Stream’s Industrial Development Services team, led the development and construction management of the facility.

“This milestone for Raceway Northwest Distribution Center illustrates the power and vision of Stream’s integrated platform–investment management, development, brokerage, construction management, and property management,” said Justin Robinson, Executive Managing Director and Partner. “Given this submarket’s historical attributes of low vacancy and high tenant demand, we entered this project confident in our mission and are extremely pleased with the outcome.”

Raceway Northwest Distribution Center was constructed to the most modern distribution development standards, including a front-load configuration with 36-foot clear height, 25 dock-high doors, and 109 vehicle and 22 trailer parking spaces. The development delivered in move-in condition with speculative office space, a white-boxed interior warehouse, LED warehouse lights, and a fully fenced and secured truck court.

The facility, which offers frontage along Fairbanks North Houston Road, provides immediate access to the Sam Houston Tollway, State Highway 249, and U.S. Highway 290. It is located near Houston’s population center, providing a unique offering in the market. Corporate neighbors include Amazon, The Home Depot, Panasonic, Advance Auto Parts, UPS, and Target.

Raceway NW Distribution Center is owned and overseen by Stream Realty Partners. Bringing over 170 years of combined experience, the Industrial Development Services division at Stream sources and executes development opportunities across a growing platform and offers a full suite of development-related services. Stream’s Investment Management Platform leverages expertise from Stream’s 15 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively owns 32 investments of 21 million square feet and approximately $3.1 billion in assets under management.

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Owned by The Trumark Group and located in the San Gabriel Valley submarket, the 10,110-square-foot, one-story former bowling alley at 1060 W. Bernardino Road in Covina is currently the only stand-alone building for sale in the city. It is well-known for its distinctive Googie architectural style, characterized by futuristic designs, upswept roofs, bold angles, and generous use of glass and steel.  

Managing Director Mike Adams, Vice President Geoff Foley, and Senior Associate Morgan Adams will serve as sales agents for Stream, a national commercial real estate firm offering an integrated platform of services. Stream has a core office in Irvine and satellite location in the Inland Empire. 

The one-of-a-kind property presents a unique opportunity for an owner/user to acquire a building that boasts both historical significance and architectural appeal. Versatile usage options for diverse user and tenant needs include food halls, restaurants, fitness, shared workspaces, specialty grocers, healthcare, breweries, and coffee shops.  

Mike McGinn, Vice President of Land Acquisition at The Trumark Companies, said, “Preserving and restoring historical aspects of Covina Bowl’s original structure was a crucial element of this redevelopment project. It was important to ensure its legacy lived on within the local community. We believe that with the help of Stream, we’ll build upon the current momentum and drive interest within their extensive network to find the right buyer.”  

Built in 1956 and designed by Powers, Daly, and DeRosa, the building’s unique architecture was influenced by car culture, jets, the Atomic Age, and the Space Age. The Googie style originated in Southern California from the Streamline Moderne architecture of the 1930s and was prevalent in the U.S. from around 1945 to the early 1970s. Covina Bowl’s trademark A-frame entrance and large neon sign have helped establish its iconic status, differentiating it from other buildings in the neighborhood. 

 “We’re excited to market this historic landmark on behalf of Trumark and identify an owner or user that truly appreciates the vintage attributes of Covina Bowl,” said Mike Adams. “It has a storied past that makes it special in the eyes of the local community, and we’re confident that with the property’s prime location, distinct style, and wide range of potential uses, that demand will be strong from a multitude of users/owners.” 

The property underwent a restoration program in 2023, which included repairing and cleaning the folded plate canopies and stonework on the exterior of the building, and restoring the original colors of turquoise, gold, and coral. The adaptive reuse development also includes The Flats & Townhomes at Covina Bowl, a residential community that offers uniquely designed and customizable floor plans, modern amenities, and nostalgic accoutrements that pay homage to the original landmark structure. With a mix of restaurants, shops, and recreation, the entire Covina Bowl project offers an indoor and outdoor lifestyle environment that brings community and culture together. 

For more information about Covina Bowl, contact Stream Southern California at 949.203.3030.  

About Stream Realty Partners 
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of services including leasing, Legendary CX property management, tenant and landlord representation, capital markets, investment management and sales, development, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas and operates 15 core offices in markets that cover areas including Alexandria, VA; Arlington, VA; Atlanta; Austin; Boca Raton; Charleston; Charlotte; Chicago; Colorado Springs; Dallas; Denver; Fort Lauderdale; Fort Worth; Greenville, SC; Houston; the Inland Empire; Irvine; Los Angeles; Miami; Nashville; Orange County; Phoenix; Raleigh-Durham; Reston, VA; San Antonio; Tysons; Washington, D.C.; and West Palm Beach. Since 1996, Stream has grown to more than 1,350 professionals and now completes more than $6.9 billion annually in office, industrial, retail, healthcare, land, and data center transactions. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, Twitter, and Facebook.   

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The national real estate services, development, and investment company broke ground in September on six buildings totaling 2.3 million square feet at its Empire West Business Park development just 30 miles west of Houston in Brookshire, Texas. The site is uniquely situated with 5,000 feet of rare Interstate 10 and Highway 90 frontage with a dedicated east/west exit. The expected delivery for the new buildings is July 2022.

“The national trend of supply chain optimization has been pulled forward, and speed to market is more important than ever,” said Justin Robinson, Stream Houston Managing Director and Partner. “That is our strategy for phase two: to provide high-quality, plug-and-play solutions for distributors that will allow them to be up and running by peak season 2022. Houston is a major beneficiary of this trend due to the consumptive engine of our 7-million-people, explosive population growth, regional reach to Central and South Texas, and the unique offering Port Houston presents for importers and exporters.”

The world-class project currently features three buildings totaling 1 million square feet. It was completed in April 2021 and is 100 percent occupied. Warefor Solutions LLC, a company that offers integrated solutions for product development, manufacturing, logistics, sales, marketing, warehousing, distribution, and fulfillment of high-quality home products, occupies building one’s 163,144 square feet. Winix America Inc., a manufacturer of healthy home appliances and air purifiers, purchased building two with 122,138 square feet. Ferguson Enterprises, the largest U.S. distributor of plumbing supplies, PVF, waterworks, and fire and fabrication products, is housed in building three with 750,775 square feet.

Amazon, Costco, Domino’s, Igloo and Medline, and Rooms To Go are among the companies nearby.

“Our belief in Houston and the West submarket is self-evident with the addition of these six buildings,” Matteson Hamilton, Stream Houston Managing Director and Partner, said. “We are the only new development project in Houston that can accommodate users from 120,000 square feet – over 1 million square feet in 2022.”

Empire West is owned and overseen by Stream’s Investment Management Platform, which leverages expertise from Stream’s 15 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively manages three discretionary commingled funds, in addition to several joint ventures, and wholly owned assets totaling 33 investments of 14.7 million square feet and approximately $2 billion in assets under management.

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Adam Jackson, Stream’s Managing Partner of Investments, said, “We are incredibly excited to be adding two high-caliber and well-respected individuals like Mike and Michael to our growing investment team. They will bring invaluable insight and experience to ensure Stream is well-positioned for future success.”

Armstrong brings 15 years of experience in real estate and real assets investment, including acquisitions, mezzanine debt origination and new business development. Most recently, he and Wong served as co-managing partners at Percheron Real Estate Partners, a privately held real estate investment and advisory company.  He and Wong first worked together as co-heads of acquisitions for GI Partners’ technology real estate platform where they were intimately involved in growing from inception to a 7 million square foot portfolio of data center, life science, office and industrial assets across the U.S. Prior to joining GI Partners, he was a Vice President at J.P. Morgan Asset Management, most recently in its Global Real Assets division. Armstrong is a graduate of Harvard College and received his MBA from Stanford Graduate School of Business.

Armstrong said, “I have worked closely with Stream for many years and witnessed how their purpose-built, strategic approach to business has positioned them to be a leader in commercial real estate. I am excited to join such a positive, team-oriented company and look forward to helping continue building Stream’s compelling and differentiated suite of investment products.”

Wong comes with over 20 years of direct real estate acquisition, joint venture investing, and mezzanine debt origination experience across multiple property types. In addition to his previously mentioned career at Percheron and GI Partners, Wong served as Managing Director at Privet Investments focusing on real estate acquisitions. Early in his career, he worked at Starwood Capital and NorthStar Capital Investment Corp. Wong is a graduate of Dartmouth College and received his MBA from The Wharton School at the University of Pennsylvania.

Wong said, “Stream is the rare combination of exceptional operational capabilities with results-oriented investment management skills across multiple property types. We are extremely fortunate to be joining a best-in-class team to bring additional value to investors, partners, and tenants across Stream’s existing and new product offerings.”

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Stream, a national real estate services, development, and investment company, has chosen veterans Matteson Hamilton and Seth Koschak to lead the effort as Executive Managing Directors and Partners in Texas. The pair brings 26 years of combined industry experience.

Stream’s full-service offering is designed to go beyond the transaction, creating value at every stage of the investment lifecycle for its clients in the industrial sector. The team will deliver expertise in advanced financial strategies, including investment sales and acquisitions, equity and fund placement, debt placement, and other services that provide real-time market data and analysis of trends.

Complementing Stream’s full-service platform, Hamilton and Koschak bring deep industry experience and a successful track record across all facets of the industrial market including leasing, tenant representation, building sales, development, acquisitions, and dispositions. Beginning in Texas, the duo aims to leverage their experience and knowledge over their careers to identify untapped opportunities for clients and deliver solutions with lasting impact.

Stream President Chris Jackson said this expansion into capital markets has been in development for the last few years and will help clients accomplish their investment objectives on the buy and sell side.

“Capital Markets is a natural expansion for Stream. With an industrial portfolio of over 150 million square feet in leasing and management, we have listened to the demands of our strategic customers and look forward to adding this vertical to our industrial services offering.”, he said. “Stream has always been about finding the right talent, fit, and people. This rings true in all aspects of our business. Seth and Matteson were the clear choices to lead the Industrial Capital Markets team in Texas. Both are top-notch industry leaders in the industrial space, respected and trusted by their clients and peers.”

Hamilton currently serves as Managing Director and Partner for the firm’s Houston office, managing the industrial team and helping oversee all aspects of Stream’s Houston business. He has played an integral role in growing the Houston office’s industrial leasing and management portfolio to more than 30 million square feet.

“Capital markets is synergistic to everything that we have been doing thus far,” Hamilton said. “We will build this new business with the same integrity as we have in our former roles while offering a fresh approach to capital markets. We pride ourselves on being students of the market and thinking like owners, which allows us to differentiate ourselves.”

Koschak currently serves as Managing Director and Partner within Stream’s Dallas/Fort Worth office and specifically leads Stream’s Fort Worth team, where he oversees project leasing, tenant representation, building sales, development, acquisitions and dispositions, and overall growth of the Fort Worth office.

“The Industrial Capital Markets division will strengthen Stream’s platform in a number of ways,” Koschak said. “We will continue to build on the established relationships we have built over the years. The connectivity our new team will have with our robust existing industrial platform within Stream will only increase the level of information, data, and knowledge that we are able to bring to the table and offer our clients.”

Hamilton and Koschak said they look forward to taking advantage of the incredibly active industrial market we are all witnessing while leveraging their experience to establish Stream’s Industrial Capital Markets team as a premier player within the space.

“We have our initial team in place and are open for business immediately,” Koschak said. “We plan to scale quickly by adding strategic members to join our team.”

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AUSTIN, TX – January 21, 2021 – Stream Realty Partners (Stream), a national real estate services, development, and investment company, today announced that Caitlyn Ryan has joined its National Investment Management team as a Senior Vice President and will reside in the Austin office. In this role, Ryan will focus on sourcing and executing new development and acquisition projects, as well as growing Stream’s national investment management platform, expanding its presence in Austin, Dallas and beyond.

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