Property Type

EL PASO — The 225,000-square-foot El Paso Children's Hospital, located at 4845 Alameda Ave. in El Paso, has opened. The hospital is the first and only independent, 501(c)(3) not-for-profit children's hospital in the El Paso area. The hospital features 122 private pediatric rooms, an “enchanted forest” play area, a 22-bed intensive care unit, a 50-bed neonatal intensive care unit, four operating rooms, a pediatric critical care transport team and an emergency department. KMD Architects designed the hospital along with El Paso-based MNK Architects. Birmingham, Ala.-based Robins & Morton was the general contractor for the project and Jones Lang LaSalle's Houston office provided project management services.

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FAIRVIEW — Birmingham, Ala.-based Colonial Properties Trust (CPT) has acquired the 256-unit Colonial Grand at Fairview, a Class A apartment community located at 344 Murray Farm Road in Fairview, a Dallas suburb, for $29.8 million. The new property features a resort-style swimming pool with a sundeck, a fitness center, outdoor grilling stations and designer kitchens with granite countertops. The purchase was funded with proceeds from asset dispositions and borrowings on CPT's unsecured credit facility.

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HOUSTON — Myers Crow & Saviers plans to build the 135,000-square-foot Mason Creek Office Center, a speculative office property that will be located on a 10.8-acre site in Mason Creek Corporate Park in Houston's Energy Corridor. Moody Rambin has been retained to lease and manage the property. Parkside Capital owns Mason Creek Corporate Park, a master-planned business park. The project is slated to break ground in the third quarter and is scheduled for an April 2013 completion.

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PHOENIX — A 170,625-square-foot industrial warehouse facility in Phoenix has sold to 67th Phoenix Industrial LP for $7.16 million. The facility was built in 2002 and is fully leased. Steve Farrell and Allen Lowe of Lee & Associates represented the buyer. The seller, the Richard A. Black and Family Trust, was represented by CBRE’s Barry Gabel and Mindy Korth.

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CHANDLER, ARIZ. – Infusionsoft has leased a 92,109-square-foot office building that is currently being built in Chandler. The property, located at 1260 S. Spectrum Blvd., broke ground in January 2012. It is expected to be completed and occupied later this year. Infusionsoft was represented by Eric Jones of Commercial Properties. The building owner and developer, Douglas Allred Company, was represented by Mark Krison and Scott German of CBRE’s Phoenix office.

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ATLANTA — Cortland Partners has purchased the 280-unit Tuscana Apartments, a garden-style community located at 6860 Bebout Drive in Norcross, for $7 million. Cortland Partners plans to invest $3.2 million in renovations, which will include the addition of washers and dryer connections in 216 units without them, new energy efficient HVAC systems and windows, improved landscaping, resurfaced and repainted athletic courts and expanded playground area.

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FORT WASHINGTON, MD. — ARA’s Mid-Atlantic office has facilitated the sale of the 324-unit Remington Place, located at 2602 Brinkley Road in Fort Washington, for an undisclosed price. Drew White, Mike Marshall and Ryan Ogden of ARA represented Invesco Real Estate and Ross Development & Investment, the sellers, in the transaction. Cafritz Interests was the buyer.

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ARLINGTON, VA. — Archstone has started construction on the 227-unit Parkland Gardens, located at the intersection of North Glebe Road and Lee Highway in Arlington. Amenities will include a resort-style pool with a sun deck and private nooks, two courtyards, an outdoor amphitheater with tiered seating and a pet spa. Union Bank and Sovereign Bank provided construction financing for the development.

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