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.
AUSTIN, TEXAS — Kennedy Wilson represented the seller in the sale of 18.3 acres located at the corner of Old Farm to Market 2243 W. and North Bagdad Road in Leander. Ernest Brown of Kennedy Wilson represented the seller, Firstmark Credit Union. Bruce Nakfoor, a local real estate developer, was the buyer. The buyer plans to develop a mixed-use complex comprised primarily of retail and multifamily developments. A residential community surrounds the property.
San Antonio remains a strong growth market. While not receiving as much national attention as its sister metro areas of Dallas/Fort Worth, Austin and Houston, the San Antonio area gained over 25,000 new jobs last year. The growth is concentrated in tourism, conferences, military and business support services. San Antonio’s growth is expected to remain strong over the next two years and should continue to drive demand for housing throughout the metro area. Local unemployment remains low at 3.8 percent, almost two points below the national average of 5.6 percent. Unemployment is forecasted to remain well below 5 percent over the next five years, according to Moody’s Analytics. However, with per-capita income at $42,000, about 10 percent below the national average, and with lower paying service jobs, San Antonio remains an affordable market for most real estate — particularly residential, which consumes the most land. At Stratford Land we invest in and lend on land for development across the faster growing metropolitan areas in the Sunbelt from the Carolinas to Southern California. Therefore, we either have the opportunity, or burden, of staying abreast of the fundamentals driving demand in all product types — residential and commercial. In looking to invest, …
BAYTOWN, Texas — Dallas-based lender HFF has closed the sale of Remington Park at Baytown, a 129-unit independent and assisted living community. HFF marketed the property on behalf of the unnamed seller. Capital Senior Living purchased the asset for an undisclosed amount. Remington Park at Baytown is located at 901 West Baker Road in Baytown, a suburb approximately 25 miles east of downtown Houston. Expanded in 2008, the 95-percent-occupied property has a mix of nine independent living cottages and 120 assisted living units. The HFF team representing the seller was led by managing director Ryan Maconachy and director Chad Lavender.
DALLAS — Lincoln Harris CSG has brokered the sale of a portfolio of medical office buildings in Dallas-Fort Worth. Webber Beall, Brian Bacharach and Rhodes Baker of Lincoln Harris CSG represented the buyer, Health Care REIT, in the purchase of five on-campus medical office buildings, surgery centers and the sale-leaseback of additional on-campus development sites in the DFW Metroplex. The seller was Rainier Medical Investments, a healthcare and hospitality developer focused on physician co-invested real estate with healthcare systems. The stabilized Class A portfolio contained approximately 196,000 square feet and approximately seven acres of land that was leased back by Rainier for future on-campus medical and hospitality developments.
AUSTIN — Dougherty Mortgage has arranged a $6.2 million Fannie Mae loan for the refinancing of Quail Park Village Apartments, a 142-unit multifamily affordable housing property located in Austin. The Fannie Mae loan includes a 10-year term with a 30-year amortization schedule. Dougherty’s Minneapolis office arranged the loan for the borrower, Heartland Wanaka Limited Partnership. Quail Park Village is located in north Austin. Unit amenities include energy-efficient windows and doors, countertop and flooring upgrades, new cabinets and gas stoves.
LONGVIEW, TEXAS — Three retailers are set to open at the Northwest Village Shopping Center, a regional power center in Longview. Located at the northeast corner of Loop 281 and Gilmer Road at 1725 W. Loop 281, the shopping center is situated on approximately 14 acres. The leases total 86,000 square feet. Big Lots will occupy 36,000 square feet. Karen Mitchell of The Woodmont Co. represented the tenant in the transaction. Big Lots is expected to open its doors in fall 2015. Burke’s Outlet will occupy 28,880 square feet. Clay Graham of Fox & Graham represented the tenant in the transaction. Burke’s is planning to open this month. ALDI Food Market will occupy 21,120 square feet. Stan Lotridge with UCR represented the tenant in the transaction. ALDI Food Market is expected to open in fall 2015. The three new leases bring Northwest Village’s occupancy from 42 percent to 95 percent.
WEATHERFORD, TEXAS — Clayton Wells of BMC Capital’s Dallas office has arranged a $1.5 million purchase loan for an apartment complex located in Weatherford. The property was constructed in December 2014. The loan features a 75 percent loan-to-value ratio, a five-year fixed-rate at 4.5 percent with a rate reset at five years, and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.