PLANO, TEXAS — Foxworth Galbraith Lumber Co. has leased 22,709 square feet of office space in Preston Park Financial Center located at 4965 Preston Park Blvd. in Plano. Clint Madison and Rodney Helm with Cushman & Wakefield represented the landlord, Griffin Partners. Janice Peters of Hudson Peters Commercial represented Foxworth Galbraith Lumber Co.
BURLESON, TEXAS — Construction has begun on the Mustang Creek Estates of Burleson seniors housing project located at 1155 NW John Jones Drive in Burleson. The $7 million, 42,000-square-foot assisted living and memory care community will include six specially designed homes, housing up to 15 seniors each. The homes will include an open kitchen, personal assisted care and daily activities. The community will house 90 residents and will open in summer 2016. The community will sit on just over seven acres southwest of Burleson Church of Christ. Joseph E. Helmberger of Kimley-Horn designed the community.
HOUSTON AND STAFFORD, TEXAS — RealtyMogul.com has raised $1.2 million in equity for Brennan Investment Group to acquire a two-property, 132,997-square-foot flex industrial portfolio in Houston and Stafford. This is the third transaction between RealtyMogul.com and Brennan Investment Group. The buildings are located at 12705 Kirkwood Center and 8600-8850 Jameel Road. Both are grade-level industrial buildings, with a mix of office and warehouse space. At the time of closing the portfolio was 94 percent occupied by 36 tenants.
EL PASO, TEXAS — The Camino Real Regional Mobility Authority has awarded a $61 million transit contract to Paso del Norte Trackworks, a joint venture of Granite Construction Co. and RailWorks Track Systems Inc. The joint-venture team will be responsible for the construction of a new electric streetcar system linking the Mexican border, El Paso downtown business district, local hospitals, residential districts and the University of Texas El Paso. The work includes 4.8 miles of track, 27 streetcar stops, related street improvements, underground drainage, water and sewer improvements, two bridge modifications and a vehicle maintenance and storage facility near the existing Sun Metro Downtown Transfer Center. The Texas Department of Transportation is funding the project. Construction is scheduled to begin in December and will take approximately two years to complete.
GRAND PRAIRIE, TEXAS — Lee & Associates has completed a lease transaction for 14,475 square feet of space located at 2618 W. Highway 303 in Grand Prairie. Robert Miller of Lee & Associates represented the tenant, Oakcroft Associates Inc. dba Roofmaster. Luke Davis of Stream Realty Partners represented the landlord.
MCKINNEY, TEXAS — Robert Faust Mortgage Company recently arranged $3,813,000 in equity for the proposed Wilmeth Ridge project in McKinney. The proposed residential development will be 124 acres located at the northeast corner of Wilmeth and Ridge roads. There will be 291 lots constructed in two phases. Grand Homes and Shaddock Homes are buying all the lots in Phase I. The developer Wynne Jackson has developed over 10,000 residential lots.
NEW YORK CITY — Six Sigma NYC has acquired Tuck-It-Away Storage Center at 517 W. 29th St. in Manhattan’s Chelsea neighborhood for $54.7 million. The buyer, a boutique design and build firm, plans to redevelop the 100-foot by 100-foot site into a luxury condominium property. Six Sigma NYC focuses on delivering amenities, finishes and quality the push the upper limits of the what is available in today’s market. The company’s current projects include 449 Washington Street, 56 Walker Street and 435 W. 19th Street in New York City. Stephen Ferrara of TOWN Residential represented the buyer in the transaction. The name of the seller was not released.
CANTON, MASS. — Calare Properties has acquired an 84,000-square-foot industrial/flex building, located at 95 Shawmut Road in Canton, for an undisclosed sum. The facility features flexible space options for companies in search of warehouse, distribution and office uses and offers 22-foot clear ceiling heights, 18 dock doors, one drive-in door and 305 on-site parking spaces. The property is currently fully leased to five tenants, with a remaining average lease term of 5.5 years. The name of the seller was not disclosed.
WEST CHESTER, PA. — HFF has arranged $18.5 million in refinancing for West Goshen Town Centre, a grocery-anchored retail center located at Route 3 and Five Points Road in West Chester, a suburb of Philadelphia. Brandolini Cos. was the borrower. Situated on 17.6 acres, the property is fully leased to ShopRite, A.C. Moore, Applebee’s Neighborhood Grill, Panera Bread, AT&T, Massage Envy, GameStop, Great Clips, Sun East Federal Credit Union and H&R Block. Ryan Ade of HFF secured the fixed-rate loan, which was provided by an institutional lender, for the borrower.
EVESHAM, N.J. — RD Management LLC has unveiled its redevelopment plans for The Shoppes and Residences at Renaissance Square, located on Route 70 in Evesham. Formerly known has Tri-Towne Plaza, the center offers 112,245 square feet of mixed-use space. The redevelopment includes the addition of five buildings, containing 338 apartments; an open space with jogging paths, walkways and a pond; new signage; upgrades to the retail portion; and the addition of new retail and restaurant facilities to the existing space. The development is scheduled to commence in spring 2016.