BRYAN, TEXAS — Texas A&M University has selected Satterfield & Pontikes Construction to build a new gross anatomy lab on the school’s Health Science Center campus located on Highway 47 in Bryan. The new $7.2 million facility will allow Texas A&M to bring all first-year medical students from different campuses to a central location. S&P’s Dallas office will lead construction on the project. Page is the project’s architect. The lab will include offices, teaching labs, specimen rooms, prep areas and washrooms. The 30,000-square-foot lab will be built next to the Medical Research & Education Building. Work on the project is expected for completion in July 2015.
Texas
DALLAS — Studio 6 Fitness is opening its second Dallas location at The Shops at Park Lane. The 2,700-square-foot gym will open later this month at 8180 Park Lane, Suite 343. Tom Metcalfe of Metcalfe Real Estate represented Studio 6 in the transaction. Amanda Gross and Ashley O’Malley of UCR represented The Shops at Park Lane. The property includes more than 5,000 parking spaces and is located near a Dallas Area Rapid Transit line.
DALLAS — Marcus & Millichap has arranged the sale of Reiger Apartments, an 18-unit apartment property in Dallas. Robert Denninger of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Denninger also represented the buyer, an individual/personal trust. Reiger Apartments is located at 5414 and 5418 Reiger Ave. in Dallas. The complex was built in 1972 and consists of two two-story buildings with 18 two-bedroom, one-bath units of approximately 800 square feet.
AUSTIN — Steadfast Apartment REIT has acquired two Austin-area apartment complexes in separate transactions. Club at Summer Valley and Terrace Cove are the REIT’s third and fourth acquisitions, bringing its portfolio to 1,047 apartment homes with an aggregate purchase price of $87 million. Club at Summer Valley is a 260-unit apartment complex built in 1983 on nine acres. The community is 98 percent occupied and is comprised of one- and two-bedroom apartments, one-bedroom townhomes and two-bedroom cottages. Apartments range from 563 to 1,229 square feet with average rents of $836. Terrace Cove is a 304-unit complex with one- and two-bedroom floor plans averaging 712 square feet. Built in 1986, the 13-acre complex is 98 percent occupied.
WILMER, TEXAS — USAA Real Estate Co. has acquired Dalport Trade Center, a 758,922-square-foot, Class A bulk distribution warehouse in Wilmer, from an undisclosed seller. The industrial property is located next to I-45 at Beltline Road just south of Dallas. Located in the Dalport Industrial Park, the Dalport Trade Center is 2.5 miles from the Union Pacific Intermodal center and 6.5 miles from the FedEx Ground Hub. The building was developed in 2008 by First Industrial as a Class A facility with truck courts, trailer and auto parking and five points of controlled ingress/egress.
FAIRFIELD AND EUSTACE, TEXAS — Boston Capital is investing in the construction of two apartment complexes in Texas. The first is StoneLeaf at Fairfield, a 49-unit development in Fairfield, 88 miles southeast of Dallas. The second is StoneLeaf at Eustace, also a 49-unit development located in Eustace, 60 miles southeast of Dallas. The developer is StoneLeaf Development LLC, located in Mabank. The developments will be built with tax credit equity from the Low Income Housing Tax Credit program. Both complexes will be available to families and individuals earning 60 percent or less of the Area Median Income. Both complexes will include 13 one-bedroom, 24 two-bedroom and 12 three-bedroom units in six single-story buildings.
ARLINGTON, TEXAS — LMI Capital has arranged a $7.7 million acquisition loan for a 124-unit apartment complex in the Dallas suburb of Arlington. Brandon Brown of LMI worked on behalf of the borrower to obtain a Fannie Mae loan with 80 percent leverage and a 30-year amortization schedule. The first year of the 10-year loan is interest only.
MONTGOMERY, TEXAS – Construction has begun on Montgomery Summit Business Park, a 96-acre, master-planned park located just north of downtown Montgomery near Lake Conroe. Phase I of the development consists of 597,200 square feet of retail, office and office/warehouse flex space. The development will be anchored by an 87,000-square-foot Uncle Bob’s Self Storage, scheduled to open in the spring of 2015.
HOUSTON – Trammell Crow Co. and joint venture partner Clarion Partners have begun construction on a new facility for DB Schenker, which has signed a lease for the entire office/warehouse building totaling 150,000 square feet. The building will be located in Kenswick Air Freight & Logistics Centre, a multi-phase industrial business park developed by Trammell Crow and Clarion Partners near Houston’s George Bush Intercontinental Airport. Munson Kennedy Partnership designed the project and Rosenberger Construction is the general contractor. Glynn Mireles and David Albert with CBRE represented DB Schenker in the transaction.
HOUSTON – NAI Houston has leased a 44,000-square-foot industrial office/warehouse building located at 6028 Navigation Blvd. in Houston’s East End submarket. Clay Pritchett with NAI Houston represented the landlord, East End Holdings Ltd. Realm Professionals represented the tenant, ERA Industries LLC.