HOUSTON — Lee & Associates has negotiated a 6,000-square-foot industrial lease at 475 W. 38th St. in Houston on behalf of L&M Installation Solutions, a provider of office furniture and moving services. Preston Yaggi of Lee & Associates represented the tenant in the transaction. Beau Kaleel of Cushman & Wakefield represented the landlord, Prologis Inc.
HENDERSON, TEXAS — Inroads Realty, a Dallas-based brokerage firm, has arranged the sale of a 39,797-square-foot retail property previously leased to Brookshire’s Grocery Store in Henderson, a city roughly two hours east of Dallas. Thad Beckner of Inroads represented the buyer, Brandywine Financial, a Pennsylvania-based real estate investment and management firm, in the transaction
FLOWER MOUND, TEXAS — Centurion American Development Group has opened The Riverwalk at Central Park, a 158-acre, mixed-use community in the Dallas-Fort Worth metro of Flower Mound. Anchored by Texas Health Presbyterian Hospital Flower Mound, the property comprises single- and multi-family residences, retail and restaurant space, an amphitheater and 46.5 acres of parks. A grand opening ceremony with food and live music will be held April 25 at 4273 Riverside Drive from 6-9 p.m.
HOUSTON — The Houston Independent School District has tapped Cadence McShane Construction Co. to build Barbara Jordan High School, a 120,000-square-foot campus located at 5800 Eastex Freeway in northeast Houston. The school will encompass 25 classrooms, six laboratories, a childcare center and a cafeteria with a commercial kitchen. Delivery is scheduled for the third quarter of 2018.
PASADENA, SPRING AND ALVIN, TEXAS — Dirt Cheap, a Mississippi-based extreme value retailer, has signed leases at three locations in the greater Houston area. Among the new deals are a 24,000-square-foot lease at 4801 Fairmont Parkway in the eastern suburb of Pasadena; a 27,927-square-foot lease at Westfield Shopping Center in the northern suburb of Spring; and a 25,843-square-foot lease at Meadow Park Shopping Center in the southern suburb of Alvin. Matt Parsons, Mark Raines and Chris Burns of JLL represented Dirt Cheap in all three transactions.
BEAUMONT, TEXAS — Marcus & Millichap has closed the sale of a 9,014-square-foot retail property located at 5468 College St. near Interstate 10 in Beaumont. The single-tenant building, which was built in 2007, is leased exclusively to Dollar General. Geoff Ficke and Chris Adams of Marcus & Millichap represented the seller, a private investor, in the transaction. Other terms of the sale were not disclosed
ODESSA, TEXAS — A joint venture between the City of Odessa, Eofficial Enterprises and Gatehouse Capital has broken ground on a Marriott Hotel and conference center in Odessa. The development will include a seven-story, 218-room hotel, 67,500-square-foot conference center, 365-stall parking garage and full-service Starbucks Coffee. Plans also include the refurbishment of Ector Theater, a historic performance and event venue originally built in 1951. The theater is located next to the new development. Construction is expected to take approximately 18 months, and will cost $79 million. Funding for the project will include $48 million from Sondra and Toby Eoff with Eofficial Enterprises, and $31.6 million from city officials. The development team includes general contractor UEB Builders; architect RTKL; hotel operator Aimbridge Hospitality; hotel brand Marriott Hotels and Resorts; structural engineer DCI; and interior designer Duncan Miller Ullman. Founded in 1997, Gatehouse Capital is a national real estate investment and development firm that has launched major mixed-use lifestyle developments, including hotels in the Hilton, Marriott and other brand families totaling more than $1 billion in completed development. — Katie Sloan
PLANO, TEXAS — Developer KDC and general contractor Balfour Beatty have topped off Liberty Mutual Insurance’s new, 1.1 million-square-foot office campus at the Legacy West development in Plano. The $325 million, 19-story property will feature amenities such as a medical center with physical therapy services, a full-service cafeteria, coffee bar, rooftop gardens and more than 4,000 covered parking spaces. The complex will house approximately 4,000 Liberty Mutual employees who will move in during December.
WEATHERFORD, TEXAS — Gunn Automotive Group, a San Antonio-based car dealer, has purchased a 10.4-acre tract in western Fort Worth suburb of Weatherford for the development of a Honda dealership. The $10 million project, which includes a 30,000-square-foot building and showroom, will break ground in June. Colton Wallis and Nick Talley of Bradford Commercial represented the sellers, two private investors, in the transaction. Jack Huff of Transwestern represented the undisclosed buyer.
HOUSTON — CBRE has arranged the sale of Bellaire Atrium I and II, two six-story office buildings located at 5909 and 5959 W. Loop South near the Texas Medical Center in Bellaire, a neighborhood in west Houston. SLS Properties, a Houston-based development and management firm, purchased both buildings, which total 152,304 square feet and were 91 percent occupied at the time of sale. Todd Casper and Michael Hassler of CBRE represented the seller, 5909-5959 Realty Ltd., in the transaction.
