HOUSTON — Cousins Properties Inc. has arranged a lease renewal with Transocean Ltd. for 255,413 square feet at Greenway Plaza in Houston. Transocean, the fourth largest customer in Cousins’ Houston portfolio, currently occupies 4 Greenway Plaza in its entirety. The 255,413-square-foot transaction renews 100 percent of the company’s current space and extends their expiration from January 2017 to January 2023. Greenway Plaza is a 4.5 million-square-foot Class A office complex located in the Greenway submarket of Houston. With the Transocean renewal, leasing at Greenway Plaza now stands at 90 percent. Bob Boykin, Warren Savery, Bubba Harkins and Will Hightower represented Cousins in the transaction.
HIGHLAND VILLAGE, TEXAS — Trademark Property Co. has begun renovation work on the 389,090-square-foot Shops at Highland Village shopping center. Enhancements will include upgraded building facades, common area and landscaping improvements, public art, new amenities for adults and children, and new signage throughout the property. Located at 1701 Shoal Creek on the corner of FM 2499 and FM 407 in Highland Village, The Shops at Highland Village is anchored by AMC Highland Village 12, Whole Foods Market and Barnes & Noble Booksellers. The center includes 11 restaurants and 60 shops including Banana Republic, White House Black Market, Chico’s and Jos. A. Bank. The center is owned by AEW Capital Management and operated by Trademark Property Co.
HOUSTON — Ashley Furniture has signed a 10-year, 52,360-square-foot lease renewal at Deerbrook Corner located at 20050 Highway 59 North in Houston. Mickey Meyer-Sturgis represented the tenant and landlord, The Richland Cos., in the transaction.
GRAPEVINE, TEXAS — HFF has arranged an $18.3 million refinancing for Grapevine Towne Center, a 207,004-square-foot retail center in Grapevine. HFF worked on behalf of the borrower, a joint venture managed by Cencor Realty Service, to secure the 10-year, fixed-rate loan with Morgan Stanley Bank. HFF will service the securitized loan. Loan proceeds will be used to refinance the borrower’s existing debt. Grapevine Towne Center is located along State Highway 114 between William D. Tate and Ira E. Woods Avenues (State Highway 26). Grapevine Towne Center’s main building and five outparcel pads are 87.5 percent leased. Tenants at the property include Office Depot, Ross Dress for Less and Big Lots in addition to Vision Works, Weight Watchers, Hallmark Creations and Bealls. Steve Heldenfels, Travis Anderson and Joe Lerer led the HFF team representing the borrower.
FRISCO, TEXAS — Venture Investment Partners, a newly formed investment group of Venture Commercial Real Estate, has acquired Preston Stonebrook, a 58,594-square-foot specialty center located on the southwest corner of Preston Road and Stonebrook Parkway in Frisco. The deal marks the second acquisition by Venture Investment Partners, an investment platform. Bo Brownlee and Easley Waggoner Jr. represented Venture Investment Partners in the Preston Stonebrook transaction. JLL represented the seller, Dunhill Partners. Venture will handle leasing and management for the center, which is currently 100 percent leased. Tenants include Hallmark, Le Peep, PrimaCare, Republic Title and Taco Bell.
OKLAHOMA CITY — NXT Capital has provided a $30 million first mortgage loan to finance the acquisition of Warwick West Apartments, a Class B, 424-unit property in Oklahoma City. Proceeds from NXT’s loan will fund a renovation plan. The property is adjacent to Integris Baptist Hospital and located near the headquarters of Chesapeake Energy. Community amenities include a clubhouse, fitness center, three swimming pools and a tennis court
SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has arranged the sale of Sir Winston Villas Apartments, a 32-unit apartment complex in San Antonio. A California-based private investor was the buyer.
MCALLEN, TEXAS — DoubleTree Suites by Hilton McAllen is now open. The property is a renovated nine-story, 262-room hotel located one mile from the McAllen International Airport. The former Embassy Suites hotel reopens following a $10 million renovation that includes updates to the lobby, atrium, restaurant, lounge, guest rooms, meeting rooms and indoor pool. DoubleTree Suites by Hilton McAllen is owned by Calmac Suites LTD and managed by Phoenix Hospitality Group. The hotel’s guestrooms include new furnishings, a microwave, mini refrigerator, coffee maker and two TVs. The hotel features more than 6,000 square feet of flexible meeting space, including six meeting rooms and one boardroom.
GEORGETOWN, TEXAS —VertsKebap has leased 1,500 square feet of retail space in Republic Square, a shopping center located at 900-930 N. Austin Ave. near IH-35, for a new location. The fast-casual restaurant specializes in kebap, a rotisserie meat served with fresh vegetables in a variety of ways. Republic Square recently underwent a remodel to improve the center’s façade and signage. Brett Maze and Campbell Anderson with the Commercial Retail Division of The Weitzman Group handled negotiations as leasing agents for Republic Square. John Heffington with CBRE handled negotiations for the restaurant.
HOUSTON — Houston-based Baker Katz has acquired the 105,833-square-foot Federal East Shopping Center located in Houston. The property is located off of I-10, nine miles east of the Central Business District. Baker Katz’s redevelopment plan includes renovating the façade and upgrading the tenant mix. The 33,589-square-foot Fitness Connection and 11,030-square-foot Pappas Meat Co. restaurant anchor the property, along with Avenue Stores, South Texas Dental Associates, H&R Block and other tenants. Construction for Federal East’s renovation is slated to begin later this year.