WOODVILLE — Gemma Power Systems has signed an engineer-procure-construct contract with East Texas Electric Cooperative for a $165 million agreement to develop a biomass-fired power plant near Woodville. The project is slated for a December 2014 completion.
HOUSTON — Miami-based Parmenter Realty Partners has acquired the 225,727-square-foot Woodland Park Plaza, an office building located at 11490 Westheimer Rd. in the Westchase submarket in Houston. The acquisition was purchased through Parmenter's institutional fund, Parmenter Realty Fund IV. The property was 68 percent leased at the time of the acquisition.
HOUSTON — A $15 million, top-to-bottom renovation of the 360,000-square-foot Marq*E Entertainment Center, located at 7620 Katy Freeway in Houston, is now complete. The property is owned by Houston-based Fidelity Realty Advisors and Los Angeles-based Canyon-Johnson Urban Funds, a joint venture between Canyon Capital Realty Advisors and former NBA star Earvin “Magic” Johnson. Fidelity oversaw the renovation, which included adding three new pad sites totaling 25,000 square feet, demolishing a building fronting, enhancing signage, adding a new Houston Police Department storefront, landscaping and adding approximately 240 new parking spaces. The development has also added new tenants including Bank of America, T-Mobile, Subway, Panda Express and Chik-fil-A.
HOUSTON — Ross Dress For Less has opened a 21,121-square-foot store, located in North 45 Plaza in Houston. North 45 Plaza is a 132,239-square-foot retail development owned by Brixmor Property Group.
WEST HOLLYWOOD, CALIF. – The 15-unit La Ventana apartment complex in West Hollywood has sold for $5,555,000. The recently renovated complex is located at 1031 North Crescent Heights Blvd. The all-cash transaction was negotiated by Robin D. Ossenbeck, a partner in the Los Angeles office of Hendricks & Partners, and Peter M.Hauser, an associate partner in the firm’s Newport Beach, Calif., office.
SAN DIEGO – A multi-tenant strip center that is located in the Torrey Highlands master-planned community in a San Diego submarket has sold to Paragon Acquisitions, LLC for $5,254,000. Paragon represented itself in the transaction, while the seller, Torrey Highlands Plaza, LLC, was represented by Paul Lafrenz, Paul Komadina, Reg Kobzi and Joel Wilson of the CBRE Private Capital Group.
ALISO VIEJO, CALIF. — A 7,068-square-foot, single-story, pre-school facility located at 10 Mareblu in Aliso Viejo has sold for $1.95 million. The sale was executed by Allen Basso, senior vice president of Lee & Associates’ Irvine, Calif., office.
WOODBRIDGE, VA. — A joint venture between Starwood Capital Group Global and The Bainbridge Cos. has broken ground on the 294-unit Bainbridge River Oaks Apartments, located at 2940 Shumard Oak Dr. in Woodbridge. Raleigh, N.C.-based Cline Design designed the Craftsman Style buildings. Amenities will include a pool and sun deck, as well as a clubhouse with a fitness center, cyber cafe, billiards area and business lounge. The first units are expected to be completed in summer 2012, with full completion slated for early 2013.
SANDY SPRINGS, GA. — Roberts Properties has selected Baker Barrios Architects to oversee architecture, planning and landscaping for the $28 million, 216-unit Northridge apartment complex, located in Sandy Springs. Amenities include a clubhouse with a high-definition theater and a signature fireplace, as well as a fitness center. Ground breaking is anticipated in the first quarter of 2012 with completion slated for spring 2013.
HOOVER, ALA. — Tameron Automotive Group has acquired a 40,242-square-foot retail site, located at 1591 Montgomery Hwy. in Hoover, from Frank Schilleci for $1.5 million. A 7,988-square-foot former Long Horn Steak House sits on the site. Tameron, which owns and operates a Hyundai dealership adjacent to property, will use the land for a $4 million expansion and development of a new prototype dealership. An additional expansion is planned in 2013. Finch Properties represented the seller in the transaction and J. Claude Tindle of Birmingham, Ala.-based Longleaf Realty Partners represented the buyer.