DALLAS — Law firm Lewis Brisbois Bisgaard & Smith LLP has leased 30,073 square feet at 2100 Ross Ave. in Dallas. Randy Cooper, Craig Wilson, Frank McCafferty and Jonathan Larsen of Cassidy Turley represented the law firm. The property is owned by Atlanta-based Cousins Properties. Cynthia Cowen and William Brokaw of Cushman & Wakefield represented the landlord. The building consists of 33 stories and includes a conference center that seats 175, cafes, a fitness center and sky bridge pedestrian system.
RICHARDSON AND CARROLLTON, TEXAS — HFF has arranged $18.8 million in acquisition financing for a six-property, 16-building industrial portfolio totaling 462,618 square feet in the north Dallas area. HFF worked on behalf of the borrower, Red Tail Acquisitions, to secure the 10-year, fixed-rate loan through a correspondent life insurance company. Loan proceeds were used to purchase the portfolio. HFF also represented the seller. The portfolio consists of 1360-1420 Presidential Drive and 850-890 North Dorothy Drive in Richardson, along with 1420 Halsey Way, 1406 Halsey Way, 2122 Country Club Drive and 2855 Trinity Square Drive in Carrollton, Texas. The properties are located near I-635 and Highway 75. The properties are 87 percent leased overall to 41 tenants, including NOW Specialties Inc., Optex Systems Inc., Laboratory Corp. of America, SKH Beauty Inc. and All Sorts Mailing Services Inc.
AUSTIN — Cousins Properties Inc. is set to begin construction on Research Park V in Austin. The 173,000-square-foot office development is the last in a five-building complex Cousins is developing. Construction is projected to start later this year and be completed in the fourth quarter of 2015. Cousins anticipates the total development cost for Research Park V will be $44 million.
MCKINNEY, TEXAS — Encore Retail LLC, a subsidiary of Dallas-based Encore Enterprises Inc., has acquired land to develop a 20-acre Class A neighborhood retail development in the master-planned community of Craig Ranch. The development is part of a 2,200-acre business, retail and residential community which will be located near the city limit lines of McKinney and Frisco. The project will be known as Marketplace at Craig Ranch and will be anchored by a grocer with inline retail space as well as five outparcel pad sites along Custer and Stacy roads.
THE WOODLANDS, TEXAS — The Howard Hughes Corp. and The Woodlands Development Co. have begun construction on a 205-room, nine-story Embassy Suites Hotel at Hughes Landing, a 66-acre mixed-use development in The Woodlands. Hughes Landing is located on Lake Woodlands, 30 miles north of Houston. The project offers retailers, dining, entertainment, apartments and Class A office space. The 172,000-square-foot hotel is scheduled for completion in late 2015. Amenities will include 3,000 square feet of meeting and event space, a business center, bar, restaurant and a 4,000-square-foot rooftop pool deck overlooking Lake Woodlands.
ARLINGTON — Construction will begin in late October on a new Ag-Power retail store in Tyler. Bob Moore Construction is the general contractor and Pross Design Group is the architect. The new store will span 20,386 square feet, with eight service bays. It will be built adjacent to an old Ag-Power store. The steel building will include a brick veneer with storefront glass in the retail area. Completion is scheduled for summer 2015. Ag-Power sells agricultural and consumer equipment and has been in business since 1972.
FORT WORTH — HFF has arranged the sale and financing for Summit Office Park, a two-building, 242,482-square-foot, Class A office complex in Fort Worth. HFF marketed the property on behalf of the seller, Prescott Group. Pennybacker Capital purchased the asset and HFF secured acquisition financing on behalf of the buyer. ViewPoint Bank provided the seven-year loan. Summit Office Park is located near I-30, just west of downtown Fort Worth. The eight-story buildings, located at 1200 and 1300 Summit Ave., are 95 percent leased and span 120,396 square feet and 122,086 square feet, respectively. Travis Anderson and Steve Heldenfels led HFF’s debt placement team.
AUSTIN — Austin-based Centric Commercial has joined CORFAC International as the network’s fourth Texas firm. Centric Commercial/CORFAC International covers real estate services including strategic planning, site selection, lease negotiations, lease renewals, lease expansion, financial analysis, construction/project management, relocation support and property acquisitions/dispositions. Centric represents tenants in both lease and investment assignments. CORFAC’s other Texas affiliates include Houston-based Boyd Commercial, San Antonio-based Providence Commercial Real Estate Services and Dallas-based Bradford Commercial Real Estate Services.
LONGVIEW, TEXAS — Marcus & Millichap has arranged the sale of Autumnwood Apartments, a 160-unit apartment complex located in Longview. Tommy Lovell III and Kim Westcott of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Zar Haro and Mike Moffitt Jr. of Marcus & Millichap’s San Antonio and Austin offices procured the buyer, a private investor. Autumnwood Apartments is located at 300 Lake Lamond Road in Longview, just south of West Cotton Street. The property was built on 8 acres in 1971 and consists of 10 two-story buildings. The complex includes 32 one-bedroom, 96 two-bedroom and 96 three-bedroom units.
FORT WORTH — Trademark Property Co., in partnership with Sarofim Realty Advisors, has acquired 63 acres of infill land located on the Trinity River at Bryant Irvin Road and Arborlawn Drive in Fort Worth. The property will become Waterside, a new mixed-use development. Phase I of construction at Waterside begins Oct. 20 and will include anchor tenant Whole Foods Market, along with retail, restaurants and 375 multifamily rental homes built by Transwestern Development Co. When completed, Waterside will include 200,000 square feet of retail space and restaurants, 20 acres of residential properties, 200,000 square feet of office space and a hotel. Phase I is scheduled to open in the spring of 2016.