CONROE, TEXAS — Allied Orion Group has broken ground on Harper’s Retreat, a new 216-unit apartment home community located in Conroe. Targeted to open in late 2015, Harper’s Retreat is the first multifamily luxury property being built in the Harper’s Preserve master-planned community. Allied Orion Group is the developer. Meeks + Partners designed the project. Harper’s Retreat is located at 17011 Harpers Way. With access to I-45 and Highway 242, the apartment community is near The Woodlands, area parks, Lake Conroe and downtown Houston. The property will include one- and two-bedroom units that will feature granite countertops, stainless steel appliances, wood flooring and ceramic tile. Amenities will include a swimming pool, cabanas, grilling stations, state-of-the-art wellness/fitness center, dog park, clubhouse and cyber café with Wi-Fi access.
HOUSTON — Big Daddy’s Antiques Inc. has leased a 3,990-square-foot freestanding corner building located at 3502 W. Alabama St. in Houston. Ashley Williams of Fidelis Realty Partners represented the tenant. Mark Kidd Sr. of M. Kidd Properties represented the landlord, St. Luke’s Methodist Church Foundation Inc. Big Daddy’s Antiques is a retailer of antiques and reproductions from European, Asian and North American markets.
PASADENA, TEXAS — Marcus & Millichap has arranged the sale of Morningstar of Pasadena, an 88,011-squrae-foot self-storage facility located in Pasadena. Chico LeClaire and Dave Knobler of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Knobler and LeClaire also secured and represented the buyer, a limited liability company. Morningstar of Pasadena is located at 6321 Spencer Highway in Pasadena.
AUSTIN, TEXAS — Ashford Hospitality Trust Inc. has secured $25.1 million in property level debt financing for the previously-closed acquisition of the 168-room Lakeway Resort & Spa in Austin. The financing has a two-year term and three, one-year extension options, subject to the satisfaction of certain conditions. The interest-only loan provides for a floating interest rate 5.1 percent. Ashford Hospitality Trust is a real estate investment trust focused on investing in the hospitality industry across all segments.
SAN ANTONIO AND GRAND PRAIRIE, TEXAS — SWBC Real Estate has broken ground on two new developments, both Class A Apartment projects. The first project, Twin Creeks at Alamo Ranch, broke ground earlier this year on the west side of San Antonio. Upon completion, the project will include 300 one-, two- and three-bedroom apartments. The proposed construction time for Twin Creeks at Alamo Ranch from start to finish is 18 months. In the second project, SWBC Real Estate broke ground on its second project, known as Timberview Ranch, which is located in Grand Prairie. Upon completion, the project will include 304, Class A garden-style one-, two- and three-bedroom apartments. Timberview Ranch is schedule for completion at the end of 2016. Galaxy Builders serves as the general contractor for both projects. Cross Architects is the architect.
MAGNOLIA, TEXAS — Colliers International has arranged the sale of 11 acres on Egypt Lane at Research Forest in Magnolia. Todd Edmonds and Michelle Soderberg of Colliers International represented the seller, I.A.B. Investments Inc., in the transaction. Egypt Land Developments LP was the buyer.
DALLAS — A new, 14-story office building is planned for Uptown Dallas’ financial district. The all-glass, 125,000-square-foot building will be adjacent to Crescent at Maple Avenue and Mahon on a one-acre site that includes the Old Warsaw restaurant. Investors Mike Terry and Holt Lunsford plan to break ground on the project during the first quarter of 2016. The partners will move their companies, M. Terry Enterprises and Holt Lunsford Holdings, into the building upon completion. Gensler designed the building. Lunsford and Terry purchased the property from former owner Al Heidari. The three-building site includes two vacant buildings and the Old Warsaw restaurant, which will continue operating for the duration of its current lease through 2015. Holt Lunsford Commercial will handle the development, leasing and on-site property management. Newt Walker served as the broker for the land transaction. When completed, 2620 Maple Ave. will offer access to retailers and restaurants, the McKinney Avenue Trolley line and Dallas’ Katy Trail.
CEDAR HILL, TEXAS — H&M, a fashion retailer, will open a new location in Cedar Hill. Spanning 21,000 square feet, the new location at Uptown Village at Cedar Hill is set to open in the fall of 2015. The store will be the company’s 15th location in Texas. The store is expected to employ 25 people.
DENTON, TEXAS — Lumber Liquidators, a retailer of hardwood flooring, has leased 7,168 square feet of retail space in Colorado Square, a shopping center in Denton. The property is located at 2305-2311 Colorado Blvd., just north of its intersection with Loop 288. Blake Shipp of The Weitzman Group arranged the lease and is the leasing agent for Colorado Square in cooperation with Metro Commercial Real Estate Services, which represented the retailer. Lumber Liquidators joins tenants including Dollar Tree and Movie Trading Co. The flooring retailer will open in May.
DALLAS — Cinépolis USA will open an eight-screen, 700-seat theater in Victory Park, a 75-acre mixed-use development in downtown Dallas. Located at the northwest corner of Victory Park Lane and High Market Street, the theater will be part of a mixed-use building, which will also include residential and retail components. Cinépolis Luxury Cinemas-Victory Park is the company’s first location in Texas. The 44,000-square-foot cinema is projected to open in 2017 and will include reclining leather seats. The Cinépolis building will also include a 640-space structured parking garage located above the ground floor retail to accommodate residents, retail customers and moviegoers. In addition, construction of a new 250-space parking facility at the south end of the district at Victory Avenue and Lamar Street is slated to begin in the next month.