KATY, TEXAS — Vigavi West Ten has broken ground on a 22,500-square-foot speculative industrial building at West Ten Industrial Park in Katy, a suburb of Houston. The industrial park offers land sites for sale or build-to-suit opportunities, as well as industrial buildings for sale or lease. At completion, West Ten Industrial Park can accommodate 350,000 square feet on 35 acres. In 2015, Parkside Capital partnered with Vigavi Realty to purchase the land within West Ten Business Park for the new facility. Located at 633 Choctaw Lane, the first building underway at West Ten Industrial Park is scheduled to deliver in November 2016. John Simons and Holden Rushing of NAI Partners are marketing the park.
CARROLLTON, TEXAS — Lee & Associates has arranged the sale of a 56,132-square-foot industrial building located at 1540 Champion Drive in Carrollton. Nathan Denton of Lee & Associates’ Dallas/Fort Worth office represented the seller, StoneDome Real Estate LLC. Ryan Boozer of Stream Realty Partners represented the buyer, Terrastone LLC.
HOUSTON — Carroll Organization has secured the sale of an apartment community known as ARIUM Fall Creek in Houston. Carroll’s investment vehicle Carroll Co-Invest Fund I previously owned the property. Carroll originally purchased the 264-unit property in February 2012. ARIUM Fall Creek is located 14 miles north of downtown Houston and is situated along the Sam Houston Tollway. The buyer was unnamed.
CORSICANA, TEXAS — Marcus & Millichap has arranged the sale of Motel 6 Corsicana, a 110-room hotel located in Corsicana. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap marketed the property on behalf of the seller, an individual/personal trust. Cooper, Gomes and Miller also procured the buyer, a local private investor. Motel 6 Corsicana is located at 2018 S. Highway 287 off of I-45. The two-story hotel was built in 1986 as a Days Inn and converted to a Motel 6 in 2006. Amenities at the property include an updated lobby and an indoor swimming pool.
HOUSTON — JLL has negotiated the extension and expansion of a 50,208-square-foot office lease at One Briarlake Plaza located at 2000 W. Sam Houston Parkway in Houston. Lubrizol signed a lease comprising the entire third and fourth floors of the 20-story building. The Wickliffe, Ohio-based chemical company, originally leased 38,133 square feet in the Class A office building. Ryan Barbles of JLL negotiated the terms on behalf of the tenant. John Pruitt and Jessica Ochoa, also with JLL, represented the landlord, TIER REIT Inc. One Briarlake Plaza is a LEED Gold certified office building located in the Westchase submarket, approximately 20 miles from Houston’s Central Business District. Built in 2000, the building’s amenities include a conferencing facility, fitness center and dining services.
EL PASO, TEXAS — Greysteel has arranged agency financing for the refinance of the Amigos Del Sol, a multifamily property located in El Paso. The seven-year, non-recourse loan was provided by an agency lender under the Freddie Mac small balance loan program. Greysteel’s Anton Mattli and John Marshall Doss negotiated the transaction. Amigos Del Sol, located at 10009 Rushing Road, was constructed in 1973 and totals 52 units.
CARROLLTON, TEXAS — Lee & Associates has completed a lease renewal for a 126,882-square-foot industrial space located at 1440 Lemay Drive in Carrollton. Nathan Denton and Adam Graham of Lee & Associates represented the landlord, Evergreen Industrial Properties. Greg Nelson and Conrad Madsen with Paladin Partners represented the tenant, Hilex Poly Co.
ARLINGTON, TEXAS — Bob Moore Construction has broken ground on a 610,000-square-foot distribution center for TTI Inc. in Fort Worth’s Mercantile Center Business Park. The new TTI facility will house the company’s North American warehouse, assembly and distribution facilities. The space will feature conveyors, pick modules, racking systems and a three-level carousel platform. The building will provide space for office and employee facilities and will include a gym and multiple break areas. The building will be built with tilt-up construction and the entire facility, including the distribution area, will be heated and air-conditioned by a central plant to maintain consistent temperature throughout the building. The property will also include 500 employee parking spaces.
NORMAN, OKLA. — Old Capital has secured a $2.8 million loan for the purchase of Country Village Apartments in Norman. The 20-year loan includes a 4.5 percent interest rate and a 30-year amortization schedule. Texas-based buyers acquired the 100-unit, semi-stabilized property at an 80 percent loan-to-value ratio.
BEAUMONT, TEXAS — UT Physicians has leased 12,000 square feet for a retail health center at Gateway Shopping Center in Beaumont. The property is located at the intersection of Stagg Drive and College Street. Nelson Spitz represented the landlord, Lombard Texas Holdings, and Mark Davis of Davis Commercial Real Estate represented UT Physicians. UT Physicians is the clinical practice of The University of Texas Medical School in Houston.