THE WOODLANDS — The Woodlands Development Co. will soon break ground on the 192,000-square-foot 3 Waterway Square Place, a nine-story office building located in The Woodlands Town Center at the corner of Lake Robbins Drive and Woodloch Forest Drive in The Woodlands. The building was designed by Boston-based Elkus Manfredi. The top three floors are pre-leased to Nexeo Solutions. The building is slated for an early 2013 completion.
GARLAND — Vu Investments has acquired the 145,171-square-foot USDA processing plant, located at 209 Range Dr. in Garland. Vu Investments plans to use the facility as a printing and paper recycling operation. Kipp Collins of Binswanger's Dallas office represented the seller, Cincinnati-based Advance Pierre Foods.
HOUSTON — CBRE has arranged $19.2 million in financing for 2603 Augusta, a 242,447-square-foot office building in Houston's Galleria area. Bernard Branca of CBRE's Houston office, along with John Clifford and Keith Huizinga of the firm's Chicago office, arranged the 3-year loan through Bank of America on behalf of the borrower, CBRE Strategic Partners U.S. Value 5, LP.
HOUSTON — NorthMarq Capital has arranged $4.3 million in first mortgage financing for the 140,000-square-foot McCoy showroom/warehouse, a building occupied by McCoy Workplace Solutions, located at 6869 Old Katy Rd. in Houston. Kerry French of NorthMarq's Houston office arranged the financing based on a 10-year term with a 20-year amortization schedule through UnumProvident on behalf of the borrower, a joint venture between a regional development company and a national real estate fund.
PASADENA — Bravo Ranch Supermercado has signed a 42,130-square-foot retail lease to occupy space at South Richey, a community center located in Pasadena. The Hispanic grocery store is slated to open in April 2012 in a space that Kroger used to occupy. The landlord, Whitestone REIT, was self-represented by Rafael Melara. Earl Harris of Weitzman Commercial's Dallas office represented the tenant in the transaction.
SIERRA VISTA, ARIZ. – The 23,485-square-foot General Services Administration (GSA) building in Sierra Vista has sold to a New York-based REIT for $7.4 million. The property is a former Lazy Boy showroom that was renovated and converted into an eco-friendly office building. It is fully occupied by the Department of Interior. The U.S. Federal Government has a 10-year lease at the single-tenant, freestanding property. The transaction was brokered by Mark Phillips, managing director of Sperry Van Ness.
GILBERT, ARIZ. — NorthMarq Capital has arranged $3.7 million in first-mortgage financing for Higley Park Commons in Gilbert. Financing for the 68,000-square-foot mixed-use property was based on a three-year, interest-only term. It was arranged through NorthMarq’s relationship with A-10 Capital. The building’s largest tenant is San Tan Learning Center, a charter school that occupies four for the site’s seven buildings. NorthMarq’s team was led by Jim Cooper, vice president of the firm’s Phoenix regional office.
NASHVILLE, TENN. — MarketStreet Enterprises has chosen Spectrum/Emery to develop, lease and manage 1.5 million square feet of office space at the 60-acre, $450 million The Gulch, a master-planned community located in Nashville's central business district. Five Class A buildings will be constructed on the site. Targeted tenants include Fortune 500 companies and businesses within the music, financial, legal, healthcare and technology industries. Solid groundbreaking and completion dates have not been set at this time.
NAPLES, FLA. — ARA's Senior Housing Group has arranged the $85 million sale of the 350-unit The Carlisle Naples, an independent and assisted living community located at 6945 Carlisle Ct. in Naples. Ryan Maconachy and Chad Lavender of ARA's Dallas office represented Naples Club, the seller, in the transaction.
RIVIERA BEACH, FLA. — Deerfield Beach, Fla.-based SIKON Construction has completed construction on the new $7 million, 104,000-square-foot Publix at Riviera Beach, located at 252 E. Blue Heron Blvd. in Riviera Beach. Orlando, Fla.-based Brandon Structures developed the store, which was designed by Clearwater Beach, Fla.-based Fisher & Associates. The property includes a two-level parking structure on top of the 36,350-square-foot Publix store. The store will open on November 10.