KAUFMAN, TEXAS — Robert Faust Mortgage Co. has arranged a $2.8 million construction loan for the proposed Shops at Kings Fort in Kaufman. The 13,244-square-foot retail center will be located on 1.7 acres on the south side of Kings Fort Parkway. The location is just east of Old Kemp Highway and south of Highway 175. A Walmart opened adjacent to the site in April 2014. Tenants will include AT&T, Texas Dentistry, Roma’s Restaurant, Oasis Nails, Great Clips, Popcorn Paradise and Verizon Wireless. Jim Meara with The Meara Co. is the developer.
ANGLETON, TEXAS — NAI Houston has brokered the acquisition of 10.4 Acres at Highway 288 Business and CR 220 in Angleton. The site will be developed into an eight-building industrial park. Joel Michael of NAI Houston represented the buyer, Teal Development, in the transaction. Bob Peltier of Bob Peltier & Associates Real Estate represented the seller, Second Baptist Church of Angleton.
RICHARDSON, TEXAS — KDC has announced that Coal Vines, a fast-casual restaurant, will join CityLine, the company’s 186-acre mixed-use project in Richardson. The restaurant is scheduled to open in summer 2015. The restaurant is an Italian bistro concept serving individual pizzas, salads, pastas and several whole wheat and gluten-free options. Coal Vines will be located on State Street near CityLine Plaza.
DALLAS — Hines and Cousins Properties Inc. have formed a joint venture to develop Victory Center in the Uptown Dallas submarket. The planned 23-story tower will include 466,000 square feet of office and retail space. Duda/Paine Architects will design the project, which will be built to LEED Gold standards. The 2.9-acre site is under contract and construction is expected to begin in mid-2015. Victory Center will be located just north of Hines’ One Victory Park office development, near the DART rail system, the Katy Trail, W Dallas Victory Hotel and American Airlines Arena.
DALLAS — New restaurant and retail leases have been signed in Phase I of Preston Hollow Village, a 42-acre mixed-use development in Dallas. The property is located at the northwest corner of Walnut Hill and Central Expressway. Phase I of the project is slated to open in early 2015, with Phase II groundbreaking scheduled for about the same time. A 14,000-square-foot Trader Joe’s and 75,000 square feet of retail and restaurant space will anchor Phase I. Dentist, doctors and other professional service firms will move into a 60,000-square-foot office building, which is on target to be completed in early 2015.
KATY, TEXAS — HFF has arranged the sale of Mason Village Shopping Center, a 97,405-square-foot retail center in the Houston suburb of Katy. HFF marketed the property on behalf of a private Houston owner. DNA Partners purchased the asset free and clear of existing debt. The property sits on 9.5 acres at 21945 Katy Freeway near the intersection of Mason Road and I-10. The 99 Cents Only Store anchors the shopping center, which is 94 percent leased to 17 tenants including Harbor Freight Tools, Jason’s Deli, Freebirds World Burrito, Huntington Learning Center, Just for Feet and Jiffy Lube. Ryan West led the HFF investment sales team representing the undisclosed seller.
FORT WORTH & BRYAN, TEXAS — Lee & Associates has negotiated the sale and lease back of a two-building industrial portfolio in Fort Worth and Bryan. Mark Graybill and Adam Graham of Lee & Associates’ Dallas/Fort Worth office represented the unnamed seller for the two properties. The portfolio consists of a 48,000-square-foot industrial building located at 7200 Jack Newell Blvd. in Fort Worth, and a 26,000-square-foot industrial building at 2801 N. Earl Rudder Freeway in Bryan. Both properties are manufacturing facilities with outside storage and long-term leases. Triple Net Acquisitions purchased the property and was represented in-house in the transaction.
AUSTIN — Muskin Commercial LLC has arranged the sale of Retama Trace Apartments, a 42-unit complex located at 9209 Northgate Blvd. in Austin. The property was built in 1984 and sits on 1.3 acres of land. Amenities include a swimming pool, picnic courtyard and native landscaping. Karl Haussmann of Hindsite 20/20 Real Estate represented the buyer, 3405 Dimond LLC. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller, 9209 Northgate LLC.
COPPELL, TEXAS — SHOP Cos. Investment Sale has brokered the sale of Riverchase Plaza, a 21,116-square-foot retail center in Coppell. The property sits 25 miles northwest of downtown Dallas at the corner of Macarthur Boulevard and Belt Line Road. Riverchase Plaza was 94 percent leased at the time of closing to tenants including Bank of America, O’Reilly Auto Parts, Pro-Cuts and Allstate Insurance. Tommy Tucker with SHOP Cos. Investment Sales represented the seller, a Dallas-based LLC. A Florida-based private investor purchased the property.
DALLAS — CBRE has arranged the lease of 125,000 square feet of office space to SoftLayer, an IBM Co. SoftLayer will occupy space within the Stanford Corporate Center located at 14001 N. Dallas Pkwy. The firm will relocate its Dallas corporate headquarters in February 2015 from its current location at 4849 Alpha Road. IBM acquired SoftLayer in July 2013. The new headquarters has capacity for more than 700 employees. Clay Vaughn, Steve Rigby and Mike Cleary of CBRE represented SoftLayer in the transaction. Brooke Scheurich and Fred Noblett of CBRE’s project management team are guiding the design service selection and construction process for SoftLayer’s new office. Jerry Averyt and Greg Trout of Henry S. Miller Cos. represented the landlord, TCI Stanford LLC.