CORPUS CHRISTI, TEXAS — Fort Worth-based Trademark Property Company has added DSW to the list of tenants at The Shops at La Palmera, a 200,000-square-foot outdoor shopping center in Corpus Christi, located across from super regional mall La Palmera. Construction of the 18,000-square-foot space for DSW is underway, as well as the future homes of Jared the Galleria of Jewelry, Dick’s Sporting Goods, T.J. Maxx and HomeGoods. This will be the first location in Corpus Christi for DSW, which currently operates 376 stores in 42 states, Washington, D.C. and Puerto Rico.
Texas
SAN ANTONIO — USAA Real Estate Co. has acquired One Riverwalk Place, an 18-story office building in downtown San Antonio. The 261,633-square-foot property, located at the corner of N. Saint Mary’s and Convent streets, was leased to 35 tenants at the time of sale. Developed in 1981, One Riverwalk Place offers frontage on the San Antonio Riverwalk and close proximity to Interstates 35 and 10. Jason Adkison, Scott Boyton and Christi Griggs of Peloton Commercial Real Estate represented USAA in the transaction. The name of the seller was not disclosed.
GRANBURY, TEXAS — The Sanders Trust, a Birmingham, Ala.-based medical real estate development company, has broken ground on a new $8.7 million medical office building in Granbury, approximately 40 miles southwest of Fort Worth. The facility will house the orthopedics, outpatient radiology, cardiology and sports medicine departments of Lake Granbury Medical Center, a Community Health Systems-affiliated hospital. The 41,000-square-foot space is slated for completion in June 2014. Dallas-based Skiles Group will serve as general contractor on the project, Ascension Group Architects will design, and Cadence Bank will finance.
AUSTIN, TEXAS — Hendricks-Berkadia has brokered the sale of Capella, a 336-unit apartment complex located at 8900 N. Interstate 35 in Austin. The property, originally constructed in 1981 and renovated in 2012, offers one- and two-bedroom floorplans in multiple two-story, garden-style buildings. Amenities include a business center, sports court, landscaped pool area, playground and dog park. FPA MultiFamily LLC of San Francisco sold Capella to Avesta Communities LLC of Tampa, Fla.
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.
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.