PLANO, TEXAS — West Plano Village, a mixed-use project under construction at the northeast corner of the Dallas North Tollway and Parker Road, is nearing completion. The project was first announced before the recession started, but is now months away from opening. Cencor Realty Services is developing the project, set to open in early 2015 with 90,000 square feet of retail space and 60,000 square feet of second-floor office space fronting the Tollway and Parker Road. Residential developer Amli Residential is constructing 264 apartments in a four-story configuration. The apartments are set to open later this year. When completed, the site’s restaurants will include Kona Grill, Princi Italia, Mi Dia From Scratch and Pakpao. Other tenants will include AT&T and Charles Schwab. Michelle Caplan with The Weitzman Group is handling retail and office leasing at West Plano Village. Dallas-based Hodges & Associates is the project’s architect.
Texas
LEWISVILLE, TEXAS — NorthMarq Capital’s Dallas office has arranged the $3.9 million refinancing of Victoria Heights, which consists of 37 newly constructed townhome buildings located at 290 Country Ridge Road in Lewisville. The transaction was structured with a 23-year loan term that is fully amortized. NorthMarq arranged financing for the borrower through its relationship with a life company.
GRAND PRAIRIE, TEXAS — NAI’s retail division has arranged the sale of the 148,272-square-foot Emerald Square shopping center at 2985 S. Highway 360 in Grand Prairie. Mike Smith of the NAI Robert Lynn Retail Division represented TriMarsh Properties, which plans a redevelopment of the area. Planned upgrades include a remodeled exterior façade and new LED signage. The property sits near Highway 20, providing close access to Arlington, Dallas and Fort Worth.
AUSTIN — HFF has secured joint venture equity and financing for a six-property multifamily portfolio in Austin. HFF worked on behalf of Commerce Capital Partners LLC to secure joint venture equity through Harbert United States Real Estate Fund V. HFF also placed six separate 12-year Fannie Mae loans with M&T Realty Capital Corp. Each loan has a four-year, interest-only period. The HFF team representing Commerce Capital included Robert Wooten, Doug Opalka and Matt Kafka.
TOMBALL, TEXAS — Houston-based Baker Katz has begun construction on the company’s retail center in Tomball, approximately 33 miles northwest of Houston. The property, which was purchased by Baker Katz earlier this year, was formerly a gas station. The site is located at FM 2920 and Highway 249, adjacent to another Baker Katz-owned shopping center. The building will be occupied by a 3,400-square-foot Pacific Dental Services office and a 4,200-square-foot Mattress Firm store. In total, the building will span 7,600 square feet. The two tenants are slated to open late this year.
CLEBURNE, TEXAS — Dougherty Mortgage LLC has arranged a $2.4 million Fannie Mae loan for the acquisition of Northridge Court Apartments, an 86-unit apartment complex in Cleburne. Dougherty’s Dallas office arranged the 10-year loan for DCP Skyline II LLC. The loan carries a 30-year amortization schedule. Dougherty Mortgage is based in Minneapolis with regional offices in California, Colorado, Maryland and Texas.
HOUSTON — Marcus & Millichap has arranged the sale of Ella Plaza, a 34,695-square-foot retail property in Houston. The asset had a list price of $3.75 million. Gus Lagos and Alex Bouchard with Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Lagos and Bouchard also secured the buyer, a partnership. Ella Plaza is located at 3414-3496 Ella Boulevard in Houston.
RICHARDSON, TEXAS — Regency Centers will build a 40,000-square-foot Whole Foods Market at KDC’s 186-acre CityLine project in Richardson. Whole Foods will anchor the initial 81,000-square-foot phase of Regency Centers’ CityLine Market, a retail center on 11.3 acres at the intersection of Renner Road and Plano Road. The store is slated to open in spring 2016.
GALVESTON, TEXAS — Hunt Cos. and Texas A&M at Galveston have entered into agreements for the design, development and construction of a proposed 612-bed, $45 million on-campus Maritime Academy Cadet Residence Hall. This is the first project Hunt and Texas A&M have developed together. Hunt is serving as the master developer, while Hunt affiliate Moss & Associates will operate as the design-build contractor for the residence hall. Construction is slated for completion in the fall of 2015.
GREENVILLE, TEXAS — Marcus & Millichap has arranged the sale of United Dialysis Center, a 7,420-square-foot office property in Greenville. Terms of the sale were not released. Geoff Ficke and Chris Adams with Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. An outside broker represented the 1031 tax-deferred exchange buyer. United Dialysis Center is located at 4309 Ridgecrest Road in Greenville, just south of U.S. Highway 380 and adjacent to Hunt Regional Healthcare Hospital. The property is 100 percent occupied.