PEARLAND, TEXAS — MAPP Construction will break ground this month on the 40,000-square-foot build-out of the Chamberlain College of Nursing in the Houston suburb of Pearland. The project, consisting of interior and exterior renovations to accommodate specialty lab spaces, offices and classrooms, is scheduled for completion in May of this year. Other members of the build-out team include Newmark Grubb Knight Frank, Interior Architects and Environmental Systems Design. Baton Rouge-based MAPP previously worked on another project for Chamberlain College of Nursing, which is a wholly owned subsidiary of DeVry Inc.
Texas
DALLAS — NAI Robert Lynn has arranged a 30,724-square-foot lease of flex space for Dave & Buster’s Inc. in Dallas. The property, located at 10796 N. Stemmons Freeway, is in close proximity to the merging of Interstate 35 and Highway 12, as well as Dallas Love Field airport. Jim Svidron of NAI Robert Lynn represented the tenant in the negotiations, while Stream Realty represented the undisclosed landlord. Dallas-based Dave & Buster’s Inc. has not yet announced whether this property will be renovated into a new store location or used for corporate purposes.
Looking back five years ago to the outset of 2009, new construction was the hot topic in the San Antonio office market. In 2008, 12 new office buildings were completed, adding approximately 1.5 million square feet to the market. That equated to a 6 percent increase in existing office inventory, with the new product concentrated in the key Northwest and North Central office submarkets. Of course, new development slowed considerably as the recession set in and wore on. Fast-forward to 2013, and as of press time the San Antonio office market only added 166,630 square feet of new product. The good news, though, is that San Antonio metro employment suffered much shorter and shallower losses than other metro areas as a result of the Great Recession. What’s more, the recovery from these losses has been sharp, with nearly 58,000 jobs added since local employment hit its lowest point in 2009, or approximately three new jobs for every one lost in the local downturn. One-third of these new jobs (or about 19,000) were created in office-using sectors such as finance, insurance and engineering. As a result, the office market is recovering, led by Class A space. The rapid decline in Class …
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Ambassador, a 62-unit multifamily building in Fort Worth. Originally constructed in 1962 and recently renovated, the property is located at 511 Tierney Road, in proximity to Highway 180. Apartment options include one- and two-bedroom layouts ranging from 640 to 960 square feet. Stephen Crittenden of the Ware Jarnagin team of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Crittenden also secured the buyer, another private investor.
LEWISVILLE, TEXAS — The firm of Henry S. Miller has brokered the sale of a 24,275-square-foot flex property in the Dallas/Fort Worth suburb of Lewisville. Located on 1.5 acres at 1210 Metro Park Blvd., the facility offers both warehouse and office space, as well as easy access to Highway 121 and Interstate 35. Dan Spika of Henry S. Miller represented the seller, Britestar Group, in the transaction. Mark Graybill of Lee & Associates represented the buyer, Team Taylor Investments LLC.
TOMBALL, TEXAS — Coldwell Banker Commercial United Realtors (CBCUR) has brokered the sale of a two-building, 10,200-square-foot industrial property in Tomball, a northwest suburb of Houston. Built in 1985, the structures feature 14-foot clear heights, three bay doors each and a showroom space. Located at 14695 Brown Road, the complex offers close proximity to State Highway 249. Patrick Buckhoff of CBCUR represented the seller, Action Window Covering Inc., while Tom Carter of greater Houston Commercial Properties represented the buyer, Joe Laughlin.
AUSTIN, TEXAS — Architect BOKA Powell LLC and contractor Southern Cross Construction have completed RiverView, a 302-unit sustainable apartment complex in Austin. The four-building property sits on a four-acre waterfront site on Lady Bird Lake, in close proximity to Interstate 35, and offers amenities such as a fitness center, swimming pool, resident lounge and business center. Sustainable features of the LEED Silver-certified development include water-saving plumbing fixtures, local and recycled materials and a roof system that collects, filters and stores rainwater in a cistern for irrigation. Studio, one- and two-bedroom options are available with rents starting at $1,158 per month. Dallas-based CDK Realty Advisors LP provided equity for the project, The Whitworth Company acted as project manager, and Molly Nelson of Prestonwood Design Group served as interior designer.
DALLAS — Marcus & Millichap has brokered the sale of Dilido Warehouse, a 60,088-square-foot industrial property in Dallas. Constructed in 2003, the Class B multi-tenant facility is located at 3680 Dilido Road, in close proximity to Loop 12, Interstate 30 and Interstate 80. Roger Hendricks and Myles Ytem of Marcus & Millichap marketed the property on behalf of the seller, a partnership. The two also procured the buyer, an institutional investment firm from California, within four days of listing.
ARLINGTON, TEXAS — NorthMarq Capital has arranged a $6.3 million loan for the acquisition of The Arbors, a 200-unit multifamily property in Arlington. The complex, which offers one-, two- and three-bedroom apartments, is located at 1010 E. Arkansas Lane, in close proximity to Interstate 20, Interstate 30 and State Highway 360. Kevin Jenkins of NorthMarq’s Charlotte, N.C. office originated the three-year loan including interest-only payments.
LANCASTER, TEXAS — Colliers International has arranged a 106,333-square-foot industrial lease in Lancaster, a suburb approximately 15 miles south of downtown Dallas. iGPS Logistics, a manufacturer and distributor of plastic pallets, will occupy the space, which is located within the Prologis Park 20-35 development at 2200 Danieldale Road. Allen Gump, Allyson Gump, Robert Badgero and Steven Badgero of Colliers represented the tenant in the negotiations. Nathan Orbin of Jones Lang LaSalle represented the landlord, an entity of Prologis Inc. known as PACGWL LLC.