SOUTHLAKE AND PLANO, TEXAS — Retail Properties of America Inc. (RPAI) has entered into two lease agreements with Lululemon Athletica Inc. at Southlake Town Square in Southlake and The Shops at Legacy in Plano. The yoga-inspired apparel retailer will occupy 3,243 square feet at Town Square and 3,180 square feet at Legacy. RPAI has signed and renewed small shop leases totaling 114,680 square feet at Town Square and 76,909 square feet at Legacy in the last 12 months.
The top 10 fastest growing subdivisions in San Antonio had a combined 1,832 housing starts in fourth quarter 2012, according to a recent report from housing-market research firm Metrostudy. And that number is already up with 2,042 new home starts in first quarter 2013, a 24.3 percent increase over the same time period last year. So far, builders are on track to build 8,478 homes this year, as major markets in Texas continues to outperform the nation. Alamo Ranch is the bright star in the bunch. Statistics solidly place this northwest subdivision in the top spot of San Antonio’s fastest growing subdivisions with 649 new housing starts in fourth quarter 2012. Bulverde Village, in second place, saw 169 new home starts during the same time. April single-family home sales rose 14 percent over last year and 4.5 percent from last month, according to the San Antonio Board of Realtors. In keeping with the boost in housing, retail is showing solid, if slow, growth. San Antonio retail occupancy rates increased for the fourth consecutive quarter, reaching 94.5 percent in first quarter 2013. And while rental rates remain fairly flat, according to research from Delta Associates, the second half of 2013 is …
HOUSTON — Construction has begun on Wallis State Bank’s new corporate headquarters, a 67,000-square-foot, Class A office building located on Kempwood Drive and Beltway 8 in Houston. Arch-Con Construction is the general contractor for the property, and Powers Brown Architects is providing design services. Wallis’ headquarters will occupy 25,000 square feet and customer banking will occupy 4,500 square feet. The remaining space will be available for lease.
AUSTIN, TEXAS — Hendricks-Berkadia has arranged the sale of Canyon Oaks, a 562-unit apartment community located at 1601 Royal Crest Drive in Austin. The complex offers studio, one-, two-, three- and four-bedroom floor plans. George Deuillet III of Hendricks-Berkadia negotiated the transaction between the seller, S2S Canyon Oaks Associates LP, and the buyer, Austin-based Presidium Group.
FARMERS BRANCH, TEXAS — Colliers International North Texas has brokered the lease for Texas Industries’ (TXI) new, 44,000-square-foot office lease in the Park West office complex at 1501 LBJ Freeway in Farmers Branch. More than 160 TXI employees will be relocated to the new office in November. Jim Graham and Travis Ewert of Colliers International represented the tenant. Grant Sumner, Joe Pustmueller and Sarah Hinkley of Peloton Commercial Real Estate represented the landlord, Highland Capital Management.
HOUSTON — Cresa has arranged the sale of half of the 19,000-square-foot retail center Grisby Square, located at 302 Stafford St. in the Far West retail submarket of Houston. The sold property includes the locations of Ginger Thai Spice and Watson’s House of Ales. Steven Heal of Cresa represented the owner, Holt Partnership, in the sale to Hospitality USA, which was self-represented by Jaime Blake in the transaction.
DALLAS — Marcus & Millichap Real Estate Investment Services has arranged the sale of Catalina Court, a 123-unit apartment complex located at 3425-3435 S. Polk St. in Dallas. Steven Crittenden of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer is an investor that owns multiple multifamily properties on South Polk Street.
PORT ARTHUR, TEXAS — DPG Partners has selected Dallas-based Weis Builders as general contractor on the $6.3 million Towneplace Suites located in Port Arthur. Towneplace Suites will offer an outdoor pool, fitness room, and kitchen with continental breakfast. This hotel is Weis’ fifth project with DPG, and their second hotel in Port Arthur. Completion is expected in summer 2014.
LONGVIEW, TEXAS AND NASHVILLE — Greystone has originated $30 million of FHA insured loans for two multifamily properties located in Texas and Tennessee. Donny Rosenberg of Greystone closed the loans on behalf of the borrower, Amesbury Cos. Hickory Point at Brentwood, located in Nashville, received $22.5 million of loan proceeds pursuant to Section 223(a)(7) of the National Housing Act. The property consists of 298 units. Hunters Crossing, located in Longview, received $7.9 million of loan proceeds through HUD’s Section 223(f) program. The complex contains 192 units.
GRAPEVINE, HUMBLE, AND ARLINGTON, TEXAS — UCR Investment Sales has brokered the sale of three retail properties in Texas totaling 33,573 square feet. The first property, Hall Johnson Center, is a 21,853-square-foot shopping center located on Hall Johnson Road in Grapevine. Notable tenants of the center include Anytime Fitness, Subway and Papa Murphy’s Pizza. The second property, Starbucks Retail Center, is a 5,720-square-foot retail center located at Northpark Drive and Glade Drive in Humble. The complex is occupied by Menchie’s Frozen Yogurt, The Nail Spot and Starbucks. The final property is a 6,000-square-foot single tenant restaurant leased to Mellow Mushroom located on North Center Street one block north of University of Texas at Arlington. Tommy Tucker of UCR Investment Sales represented the sellers in all three transactions.