HOUSTON — Global Transportation has leased 10,719 square feet at the Norfolk Tower building, located at 2211 Norfolk St. in Houston. Griffin Jaggard and Terri Torregrossa of Moody Rambin represented the building owner, The Realty Associates Fund IX LP. Phil Arnett represented Global Transportation in negotiations.
Texas
HOUSTON — Ryan Watson, vice president of Q10 | Kinghorn, Driver, Hough & Co., has arranged $7.3 million in permanent, non-recourse financing on behalf of a Houston-based investor. The 10-year, fixed-rate loan was arranged through RAIT Financial Trust following the renovation of Bennington Square apartment homes in southwest Houston in 2012 and 2013. The 288,000-square-foot, 313-unit Bennington Square community is located at 6300 W. Bellfort St. The non-recourse financing with cash-out option to the borrower allowed the initial investment capital to be returned to the original investors.
COLLEGE STATION, TEXAS — Skanska has signed a $93 million contract to construct a new veterinary medicine and biomedical sciences education complex and renovate and expand the existing small animal hospital on the main campus of Texas A&M University. The 330,000-square-foot new building will house state-of-the-art classrooms, teaching and laboratory space, and a café with indoor and outdoor dining facilities. Combined with the expansion of the small animal hospital, the new facilities will accommodate more than 500 students. The project broke ground this month and is expected to be completed in April 2016.
AUSTIN, TEXAS — InterContinental Hotels Group will manage a dual-branded Hotel Indigo and Holiday Inn Express hotel in downtown Austin. JCI Cos. is developing the hotel, which will feature 134 Hotel Indigo rooms and 171 Holiday Inn Express rooms. The dual-branded model allows for operating efficiencies, where guests typically share the same building structure or services, such as fitness centers, pools and food and beverage facilities. Some back-of-the-house operations may also be shared or separate. The hotel is expected to open by the end of 2016.
DALLAS — Mohr Capital has acquired the Coit Medical Center in Dallas, located at 12230 Coit Road. The 32,611-square-foot medical office building was constructed in 2009 and is 34 percent leased. Scott Henry, Gary Horn and Austin Ames represented Mohr Capital internally, while Evan Kovac with Newmark Grubb Knight Frank represented the seller, Passco Seneca Coit LLC. Frost Bank provided project financing.
IRVING, TEXAS — PM Realty Group has brokered a 29,345-square-foot office lease for Hanley-Wood Exhibitions in the Las Colinas Highlands building. The 199,435-square-foot building, located at 6191 N. State Highway 161, is owned by MLCFC 2006-4 Office 6191 LLC. Kurt Cherry, executive vice president of PM Realty, handled the transaction for the owner. Mari Jones, senior director, Billy Gannon, associate director, and Emily Hoffman, senior associate, with Cushman & Wakefield represented the tenant.
HOUSTON — Cadence McShane Construction Co. has completed the construction of Fallbrook Distribution Center II, a 400,250-square-foot warehouse/distribution facility located at 8303 Fallbrook Drive in northwest Houston. The property, situated on a 30-acre parcel, was built on behalf of developer Liberty Property Trust. Divisible to 100,000 square feet, the cross-dock facility can support single- or multi-tenant configurations. Fallbrook Distribution Center II features 32-foot clear heights; 53.4-foot-by-50-foot column spacing; 83 exterior docks; four drive-in doors; an ESFR sprinkler system; 3,000 square feet of office space to-suit; and on-site trailer parking. Seeberger Architecture provided the architectural services.
SAN ANTONIO — Transwestern’s Austin-based Multifamily Capital Markets Group has brokered the sale of the Springwood Apartments in San Antonio. Springwood, developed in 1984, is a 176-unit residential community that went through foreclosure in March 2012. The property is located at 1400 Gardina St. in the Northeast submarket. Jeff Rogers and Chris Stutzman of Transwestern represented the seller, Florida-based Ocwen. Calton Investments, a Texas-based multifamily investment firm, acquired the property for an undisclosed price. Approximately 80 percent of Springwood’s units recently received interior upgrades ranging between $3,000 and $5,000 per unit.
HOUSTON — NAI Houston has arranged the sale of a 22,000-square-foot industrial building located at 10531 Fisher Road in Houston’s Northwest submarket. The building is situated on 3.3 acres of land. Chris Caudill of NAI Houston represented the buyer, Greystone Alloys. Jim Copper of Cypressbrook Co. represented the seller, JKM Fisher Properties Ltd., in the sale of the property.
HOUSTON —Marcus & Millichap has arranged the sale of White Oak Apartments, a 77-unit apartment building located at 2222 White Oak Drive in Houston. Juan Cuevas, an associate in Marcus & Millichap’s Houston office, marketed the property on behalf of the seller, a subsidiary of Brightside Properties. Greystar, the buyer, plans to demolish the existing building and build a new mid-rise apartment building.