Texas

Equity Office And 5G Studio Reveal New Look for Business Park in Dallas

by Haisten Willis March 20, 2015

DALLAS — Solana Business Park and architecture firm 5G Studio Collaborative have released final architectural design renderings of Solana Business Park’s $50 million campus renovation. Renovations will update campus offerings and facilities. Local graphic design firm 70kft will design a new Solana logo to be displayed throughout the property. 5G’s renovation strategy for Solana includes prairie colors and weathered metal materials. Additionally, a new gateway entrance will be added to the property. Campus buildings have also been renamed to better align with the new property identity. The new names include: The Vista at Solana (formerly 1 E. Kirkwood), The Terrace at Solana (formerly Campus Circle) and The Plaza at Solana (formerly Village Circle). Renovations are underway and should be completed by the end of 2015.

March 20, 2015

Downtown Midland Exploding with New Projects, Renovations

by Haisten Willis March 20, 2015

Midland’s name was called four times at the Texas Downtown Association Presidents’ Awards luncheon during the organization’s 2014 Annual Conference in Granbury. Four finalists and two winners emerged from the six nominations submitted by the City of Midland Downtown Development Department. The two winners were the Midland Chamber of Commerce’s Star Spangled Salute, which tied with Bryan for Best Promotional Event for a population over 50,000, and Midland Tower for Best Restoration for a population over 50,000. The Downtown Midland Management District was a finalist in the category of Best Downtown Partner for outstanding contributions to preserve, revitalize and redevelop Texas downtowns. Basin Burger House was a finalist in the category of Best Renovation/Rehabilitation, recognized for excellence in the rehabilitation of the interior and/or exterior of an existing building. The developer for Basin Burger House recently broke ground on another retail development approximately 25 yards to the west. The number of future potential nominees for the Presidents’ Awards increases as the commitment to the revitalization of downtown Midland builds momentum. Fueling this resurgence is a combination of private and public interests. Several projects recently received favorable responses from the Downtown Midland Management District, the Midland Tax Increment Reinvestment Zone and …

March 20, 2015

Retail Texas

MYCON Breaks Ground on Walmart Store in Metro Dallas

by Haisten Willis March 19, 2015

ROYSE CITY, TEXAS — MYCON General Contractors has broken ground on a 154,696-square-foot Walmart Supercenter in Royse City. The new store is located off IH 30 at 782 E. St. The Walmart will open in October 2015 and is expected to employ approximately 100 people. MYCON General Contractors has built, renovated and/or expanded Walmart Supercenters, Walmart Neighborhood Markets and a Sam’s Club in locations throughout Texas including Bryan, Dallas, Denton, Flower Mound, Frisco, Garland, Plano, Rowlett, Sachse and Temple. This is MYCON General Contractors 21stWalmart store.

March 19, 2015

Retail Texas

Weitzman Group Negotiates Lease For Foot Locker in Austin

by Haisten Willis March 19, 2015

AUSTIN, TEXAS — Foot Locker, an athletic footwear and apparel retailer, has leased 4,135 square feet of retail space in Capital Plaza, an Austin retail center located at the northeast corner of IH-35 and Cameron Road. Matt Epple and Casey Kopecky of The Weitzman Group were the retail leasing agents for Capital Plaza. Cencor Realty Services manages Capital Plaza.

March 19, 2015

Multifamily Texas

Inland American Communities Rebrands as University House Communities

by Haisten Willis March 19, 2015

DALLAS — Inland American Communities Group Inc. (IAC), a development, acquisition and management company operating in university markets across the U.S., has rebranded to become University House Communities (UHC). University House Communities will continue to operate as a wholly owned subsidiary of Inland American Real Estate Investment Trust, a non-traded national REIT that manages a portfolio of commercial real estate assets in multi-tenant and student housing. Currently, University House Communities has five new properties under construction in Atlanta, Austin, Birmingham, Charlotte and Tempe, and continues to identify new development and acquisition opportunities across the country.

March 19, 2015

Industrial Office Texas

TNRG Arranges Sale of Office/Warehouse Buildings in Houston

by Haisten Willis March 19, 2015

HOUSTON — TexWhouse Inc. has purchased two office/warehouse buildings in Houston. The two single-tenant buildings, spanning 6,000 square feet and a 10,000 square feet, are located at 3103 and 3113 Farrell Road, respectively. Mike Spears, Thomas Leger and Robert McGee of TNRG represented the buyer, TexWhouse, and the seller, Farrell Road Park North LLC.

March 19, 2015

Retail Texas

New iLoveKickboxing Fitness Franchise Opening in Austin

by Haisten Willis March 18, 2015

AUSTIN, TEXAS — A new iLoveKickboxing franchise is set to open at 1700 S. Lamar Blvd. in Austin. The franchise is expected to open in the coming months, however, a firm date has not been set. Bryan McMurrey of CBRE represented the landlord, Collier Properties LLC, in the transaction. Nick Boyd of CSA Realty represented iLoveKickboxing franchisee Alejandro Acuna. The iLoveKickboxing location aims to emulate the workouts of professional fighters, while making them accessible to the average man or woman looking to engage in a healthier lifestyle.

March 18, 2015

Loans Retail Texas

Pacific Southwest Arranges $3.3M Loan for Retail Property in Metro Dallas

by Haisten Willis March 18, 2015

FORT WORTH — Pacific Southwest Realty Services (PSRS), a San Diego-based commercial mortgage banking firm, has arranged a $3.3 million loan secured by a 36,000-square-foot retail property in Fort Worth. David Hamilton of the firm’s San Diego office arranged the transaction. The fixed-rate loan features a 15-year term with a 25-year amortization schedule and three five-year resets. The interest rate starts at 3.9 percent and resets every five years. There is no prepayment premium and the only lender fee was $2,500 for processing. Hamilton arranged the financing through a credit union that PSRS represents.

March 18, 2015

Hospitality Texas

FelCor Sells Embassy Suites Hotel in San Antonio

by Haisten Willis March 18, 2015

SAN ANTONIO — FelCor Lodging Trust Inc. has sold its 261-room Embassy Suites Hotel – San Antonio Airport for $29.5 million. FelCor will use the proceeds from selling this hotel to repay outstanding debt. Since 2010, FelCor has sold 35 non-strategic hotels for aggregate gross proceeds of $794 million.

March 18, 2015

Office Texas

Mr. Handyman to Open New Office in Metro Houston

by Haisten Willis March 18, 2015

MAGNOLIA, TEXAS — Mr. Handyman, a home repair and maintenance company, has opened a new office in Magnolia. The new, 1,540-square-foot space is located at 32914 Tamina Road. John Wenckens and Ryan Dierker with Newcor Commercial Real Estate represented the tenant, Mr. Handyman, in the transaction. Chuck Mack represented the landlord, Monarch Property Management.

March 18, 2015

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