COLLEGE STATION, TEXAS — Texas A&M University has chosen Satterfield & Pontikes Construction for the $6.4 million renovation of Francis Hall on the College Station campus. The project, which will transform the building into the new home of the university’s construction science department, will include demolition of the building’s current interior; installation of new mechanical, electrical, plumbing, fire alarm and communication systems; and the construction of an auditorium, exhibit hall, student lounge and conference room. Completion is expected in November 2014. The three-story Francis Hall was originally constructed in 1918.
Texas
HOUSTON — Whitestone REIT (NYSE: WSR) has launched four property redevelopment programs in the Houston metro area as part of a repositioning and rebranding initiative. The properties include Woodlake Plaza, a 106,000-square-foot office building in the Westchase District; Main Park, a 113,000-square-foot medical lab facility near Reliant Stadium and Texas Medical Center; Lion Square, a 118,000-square-foot retail center in the Asian district of southwest Houston; and Torrey Square, a 106,000-square-foot retail center in a predominately Latino district of north Houston. Whitestone purchased the properties for $60 per square foot on average.
IRVING, TEXAS — HREC Investment Advisors has brokered the sale of the Ramada DFW Airport North Hotel in Irving. The 140-room property is located on Ester Road directly off Highway 114 and is in close proximity to the new Irving Convention Center, Gaylord Convention Center Hotel and the Grapevine Mills Mall, besides Dallas/Fort Worth International Airport. Hank Wolpert of HREC represented the seller in the transaction. Buyer Pramukhraj Irving LLC plans to rebrand the hotel.
HOUSTON — NAI Houston has brokered the sale of a 75,000-square-foot warehouse property in Houston’s Far Northwest industrial submarket. The asset is situated on 10.6 acres at 13813 FM 529. Buyer Deepwater Corrosion Services, a full-service offshore corrosion-control company serving the oil and gas industry, plans to use the building as its new headquarters. John Ferruzzo and Chris Kugle of NAI Houston represented Deepwater in the transaction. Mac Process LLC was the seller.
SAN ANTONIO — Constellation Brands Inc., a global alcoholic beverage company and the No. 1 importer of beer in the U.S., has signed a lease at Eilan, a mixed-use development in San Antonio. Constellation will occupy 13,077 square feet in one of the development’s two four-story office buildings, which feature concrete construction for sound dampening, enclosed loading docks and covered-structure parking. Eilan also includes residential and retail space as well as a hotel, spa and restaurant. Lindsey Tucker and Steve Thomas of CBRE San Antonio, who handle all office leasing at Eilan, represented the development in the negotiations.
FRISCO — CBRE has secured $10.25 million in permanent financing for retail property Custer Star Center in Frisco, approximately 28 miles north of Dallas. Comprised of three buildings totaling 55,201 square feet, Custer Star Center is anchored by Petco and includes multiple pad sites bordering the property. UCD Corp. began the first phase of the project in 2010 and completed construction at the beginning of this year. Scott Lewis, Matt Ballard and Patrick Benoist of CBRE’S Debt and Equity Finance Group originated and secured the loan, which is set for a term of 10 years and fixed at 4.57 percent.
PLANO — Henry S. Miller Brokerage has arranged the acquisition of a 46,502-square-foot, big-box retail building on 4.48 acres of land in Plano for buyer The Van Tuyl Group. Located at 300 Lexington Drive, the property is a former site of a Toys “R” Us location and sits adjacent to Crest Cadillac & Infiniti dealership. Bill Bledsoe of Henry S. Miller represented the buyer in the transaction, while Jim Avallone of DJM Realty represented the seller, DJM Realty for Toys “R” Us.
HOUSTON — CBRE has brokered the sale of 26,937 square feet of street-level retail and office space at Houston’s Bayou Lofts. The Denver-based buyer, Byers Street Properties, acquired the first two levels of the Topek Building and Parking Garage, which was incorporated into the Bayou Lofts redevelopment. Mike Hassler and Todd Casper of CBRE represented the seller, Dallas-based Spire Realty Group.
HOUSTON — Cushman & Wakefield has arranged the lease of 23,000 square feet at Northwest Place Industrial Park to Cameron International Corp. Jim Foreman and Beau Kaleel of Cushman & Wakefield represented owner Levey Group, a Houston-based commercial real estate company specializing in office-warehouse properties. Brandi McDonald of Newmark Real Estate represented the tenant, a provider of flow equipment products, systems and services to the oil, gas and process industries.
SAN ANTONIO — CBRE has arranged the sale and financing of Westover Springs, a 296-unit Class A apartment community in northwest San Antonio. The garden-style property, located near the intersection of State Highway 151 and Loop 1604, offers one-, two- and three-bedroom layouts and amenities such as a swimming pool, outdoor fireplace and grilling area, community center and fitness center. Charles Cirar, Ryan Epstein and Michael Wardlaw of CBRE Central Texas multi-housing represented the seller, a joint venture between Carbon Thompson and an equity fund advised by Prudential Real Estate Investors. Jim Kirkpatrick and Jim Richards of CBRE’s Debt and Equity Finance Group arranged the loan with 40/86 Capital. The buyer was Steel Castle Property Partners LLC.