ARLINGTON, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $612,500 purchase loan for a 20-unit apartment complex located in Arlington. The loan features a five-year term with a 4.3 percent interest rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent bank relationships.
AUSTIN, TEXAS — Trammell Crow Co. and Principal Real Estate Investors have reached a significant construction milestone for their new office tower in Austin, and they’ve made history in the process. To lay the foundation for 500 W. 2nd Street, the 29-story, 500,000-square-foot office tower located at San Antonio and 2nd streets, construction manager The Beck Group coordinated downtown Austin’s largest-ever continuous concrete foundation pour, placing more than 10,680 cubic yards of concrete in just over 24 hours. The foundation slab is over nine feet deep and holds more than 1,200 tons of rebar support. The office tower will soon begin vertical construction, with two tower cranes to erect on-site within the next two weeks. Owners Trammell Crow Co. and Principal Real Estate Investors are co-developing the project. Gensler is the project architect and The Beck Group is the construction manager.
ROWLETT AND FORT WORTH, TEXAS — SHOP Cos. Investment Sales has arranged the sale of two retail properties in the Dallas/Fort Worth area totaling 78,075 square feet. Tommy Tucker and Tim Axilrod of SHOP Cos. represented the two different sellers in each transaction. Lakeview Crossing is a 49,693-square-foot retail center located in Rowlett. The property was 72 percent occupied at the time of closing with tenants including Big Lots and Royal Buffet. Lakeview Crossing is located at the northeast quadrant of Lakeview Parkway and Rowlett Road in a retail corridor 20 to 25 minutes northeast of downtown Dallas. Area retailers include Walmart Supercenter, Target, The Home Depot, LA Fitness, CVS, Aldi, Ross, PetSmart and Dollar Tree. SHOP Cos. Investment Sales represented the seller, a Dallas-based limited liability company. A Houston-based limited liability company was the buyer. Shops at Hulen is a 28,382-square-foot shopping center located in Fort Worth. The property is shadow anchored by Walmart Supercenter and at the time of closing was 59 percent occupied to tenants including DaVita Dialysis, Sally Beauty Supply and Eyecrafters. The property is located 10 minutes southwest of downtown Fort Worth just off the corner of Hulen Street and Ledgestone Drive. SHOP Cos. Investment Sales …
HOUSTON — Andrew Peeples, Brett Butler and Jeff Jackson of Stan Johnson Co. (SJC) have brokered the sale of C&J Energy Services corporate headquarters in Houston. The campus consists of a 125,000-square-foot, three-story office building and a 96,149-square-foot industrial/lab building. Westchase Green LLC, a partnership entity formed by InSite Realty Partners LP, developed the build-to-suit headquarters on behalf of C&J Energy. The buyer was a private REIT out of New York. The properties were put under contract in July 2014 with the industrial/lab facility closing in October and the office headquarters closing in March 2015.
COLLEYVILLE, TEXAS — Red House Cajun Seafood Restaurant is coming to Colleyville and will be located in a 7,609-square-foot restaurant building at 5120 Highway 121. Nearby restaurants include Rio Mambo and LaHacienda Ranch. Red House will offer crab, lobster, shrimp and crawfish, as well as fish and traditional gumbo. Mark Boone of Irving-based Realty Capital Management LLC, along with Allison Cornwell, represented the landlord. Greg Blandford with Position Property Group represented the tenant.
INGLESIDE, TEXAS — Elliot Auerbacher of NorthMarq Capital’s New York regional office has arranged a $10.5 million construction loan for Seaside Landing Apartments, a 120-unit multifamily property located at Highway 361 and Main Street in Ingleside. The transaction was structured with a five-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national bank.
In 2014, El Paso, along with the rest of the country, enjoyed a vibrant, active and growing economy, and we anticipate El Paso will continue its solid growth in 2015 and beyond. Similar to the rest of the country, El Paso continued to add jobs across all sectors, resulting in reduced unemployment and increased household income. In addition, a number of factors unique to the region have made El Paso a wonderful place to do business. Fort Bliss, always vital to the El Paso economy, continues its growth. A new 1 million-square-foot medical center, which will employ approximately 4,000 people, will open in 2016. El Paso has experienced substantial additions to its medical sector. Tenet Healthcare Corp. has added a new wing to its Eastside Hospital and recently announced a new hospital to be constructed on the northwest side in conjunction with Texas Tech University Health Sciences Center El Paso. In addition, both Tenet and Hospital Corp. of America (HCA) continue their rapid placement of urgent care, emergency care and other satellite facilities around the city. As many people know, El Paso benefits from economic growth outside its city limits as well. Union Pacific is making huge investments in Santa …
HOUSTON — Tilman J. Fertitta has broken ground on The Post Oak, a mixed-use, master-planned project in Houston combining hotel, office, residential, retail and restaurant offerings in one tower. The new development will be located in the Galleria and Uptown area along West Loop South, with access from Loop 610, Holly Hurst Street and Hallmark Drive. Rising above the 10-acre mixed-use development will be a 35-story tower with an adjacent ballroom. The 650,000-square-foot tower will accommodate 240 hotel rooms, more than 120,000 square feet of boutique office space and 22 apartment units. Amenities will include a two-story spa and salon, restaurants and retail and over 1,000 parking spaces.
HOUSTON — Texas Children’s Hospital, in collaboration with FKP Architects, will add a $506 million, 19-story patient tower to its campus as part of a $575 million capital investment. The new tower will sit on top of an existing six-story base adjacent to Texas Children’s Pavilion for Women. FKP’s Houston office will lead planning and design for the project, which is expected to be complete in 2018. Pediatric Tower E will initially offer 129 beds for pediatric and cardiovascular intensive care, along with new operating rooms. It will also be the home of the relocated Texas Children’s Heart Center, including a new outpatient clinic, cardiovascular operating rooms, dedicated cardiology beds and catheterization labs. The Heart Center will move out of the West Tower, making way for additional acute care beds. The project will be funded in part from the Texas Children’s Promise Campaign.
FORT WORTH — Transwestern’s Fort Worth office has arranged the sale of Riverbend Center on behalf of Klabzuba Realty LLC. Riverbend Complex LLC purchased the industrial/flex property located at 2301 – 2435 Gravel Drive and 7401 – 7445 Pebble Drive in Fort Worth for an undisclosed price. Steve Rowland, Jeff Givens and Tracy Georges of Transwestern represented the seller, Klabzuba. The 188,355-square-foot, four-building property was 90 percent leased at the time of sale. Riverbend Center includes 5,000 square feet of excess land for potential additional parking. Todd Lambeth of Colliers International represented Riverbend Complex in the transaction.