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OfficeTexas

Goddard Begins $70M Renovation of 60-Story Office Tower in Downtown Dallas

by Taylor Williams

DALLAS — Goddard Investment Group has begun a $70 million renovation of Fountain Place, a 60-story office tower in downtown Dallas. The project will deliver a 10-story parking garage with four plaza-level restaurants at its base. In addition, AMLI Residential is developing a 45-story luxury apartment tower as part of the new Fountain Place mixed-use complex. Several companies, including Bracewell LLP, Wells Fargo and Tenet Healthcare, have recently renewed their leases at the property, which is now 85 percent occupied. The garage will be delivered in October, while interior renovations are scheduled for a May 2018 completion.

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LoansRetailTexas

Q10 KDH Arranges $16M in Financing for Class A Shopping Center in Houston

by Taylor Williams

HOUSTON — Q10 KDH has arranged $16 million in permanent financing for Cypress Creek Plaza, a Class A shopping center in northwest Houston. The center is shadow-anchored by H-E-B and contains 51,034 square feet of net rentable space across three buildings and three ground-leased pad sites leased to Wendy’s, Zaxby’s and Chase Bank. Thrivent Financial provided the 10-year loan, which features a 30-year amortization schedule and a fixed sub-4 percent interest rate.

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OfficeTexas

Notley Ventures Begins Leasing 60,000 SF Social Innovation Center in Austin

by Taylor Williams

AUSTIN, TEXAS — Notley Ventures has begun leasing The Center for Social Innovation, a 60,000-square-foot office campus within the Springdale General complex in Austin. Located at 1023 Springdale Road, the center consists of 50,000 square feet of office space and 10,000 square feet of co-working space. Central Austin Management Group served as the primary developer of the project.

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Texas

Younger Partners Brokers Sale of 11 Acres for Collin College Campus in Wylie, Texas

by Taylor Williams

WYLIE, TEXAS — Younger Partners has brokered the sale of 11 acres at 455 FM 1378 in the northern Dallas suburb of Wylie. The land will be used in the development of Collin College’s Wylie Campus, a three-building, 360,000-square-foot project that will be able to serve 7,500 students. Tom Grunnah of Younger Partners represented the buyer, Collin County Community College District, in the transaction. The campus is currently expected to open in 2020.

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IndustrialTexasTop Stories

Daikin Industries Opens $400M HVAC Manufacturing Campus Near Houston

by John Nelson

WALLER, TEXAS — Daikin Industries Ltd., a manufacturer of indoor heating and cooling systems and refrigerants, has opened the 500-acre Daikin Texas Technology Park (DTTP) in Waller, about 43 miles northwest of Houston. The Japanese company’s new $400 million business campus consolidates many of the company’s HVAC (heating, ventilating and air conditioning) manufacturing and logistics facilities in Texas and Tennessee. “The DTTP is the largest facility investment our company has made in its 90-year history, and we believe that investing in Texas and keeping jobs in the United States is mutually beneficial for both our company and the economy,” says Takeshi Ebisu, president and CEO of Goodman Global Group Inc., a subsidiary of Daikin. Spanning roughly 4 million square feet, the DTTP supports the design, engineering and assembly of heating and cooling products for residential and commercial use, marketed under the Daikin, Goodman and Amana brands. Amana is a registered trademark of Maytag Corp. or its related companies (including Whirlpool) and is used under license to Goodman Co. Daikin also plans to assemble VRV (variable refrigerant volume) products at the DTTP that were previously imported from other Daikin business units outside of North America. Noriyuki Inoue, Daikin’s chairman of the …

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OfficeRetailTexas

JLL Arranges $175M in Refinancing for 493,400 SF Mixed-Use Asset in The Woodlands

by Taylor Williams

THE WOODLANDS, TEXAS — JLL has arranged $175 million in refinancing for Market Street — The Woodlands, a 493,400-square-foot mixed-use asset located at 9595 Six Pines Drive in The Woodlands. The property features approximately 375,600 square feet of retail space and 114,900 square feet of office space. Tom Melody and John Ream of JLL arranged the fixed-rate loan through a partnership between Morgan Stanley and Wells Fargo.

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MultifamilyTexas

Berkadia Arranges $25.1M Acquisition Loan for 300-Unit Apartment Community in Odessa

by Taylor Williams

ODESSA, TEXAS — Berkadia has arranged a $25.1 million loan for the acquisition of Faudree Ranch Apartments, a 300-unit multifamily community in Odessa. Charles Foschini and Christopher Apone of Berkadia arranged the fixed-rate loan on behalf of the borrower, Faudree Ranch Apartments LLC. JPMorgan originated the loan, which features a five-year term and a 67 percent loan-to-value ratio. The property was 90 percent occupied at the time of acquisition.

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Texas

APHA Relocates Headquarters to Multimillion Development in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — The American Paint Horse Association (APHA), an equine breeding association, has moved its headquarters from the 40,000-square-foot office building at 2800 Meachem Road to the Fort Worth Stockyards Horse and Mule Barns, an 11,252-square-foot build-to-suit property. The APHA is the first tenant to lease space in the redevelopment, which will undergo a $50 million restoration project expected to be complete by the end of 2018. NAI Robert Lynn represented APHA in the lease negotiations.

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IndustrialTexas

Arch-Con Completes 468,000 SF Industrial Project in Lancaster, Texas

by Taylor Williams

LANCASTER, TEXAS — Arch-Con Construction has completed Park 20 Distribution Center, a tilt-wall, cross-dock industrial property situated on 36 acres in Lancaster. Built for Denver-based developer Huntington Industrial Partners, the property measures 468,000 square feet and features 32-foot clear heights and 101 overhead doors. Meinhardt & Associates Architects PLLC designed the project.

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