HOUSTON — Velocis has purchased two Class A office buildings totaling approximately 190,000 square feet in Houston's Hedwig Village. The buildings, 950 and 952 Echo Lane, are currently 90 percent leased. Rudy Hubbard and Kevin McConn of Jones Lang LaSalle represented the seller, Houston Mark I Properties, in the transaction.
Texas
HOUSTON — Ziegler Cooper Architects has signed a lease for 25,000 square feet of office space in Bank of America Center, located in downtown Houston. Ziegler Cooper designed its office space to include 65-foot cathedral ceilings over its studio space and a cyber cafe known as Ziegler Cooper Cafe. The new office space is expected to achieve LEED Gold certification and is expected to be complete in December.
LEWISVILLE — Bright Realty has begun development of the Castle Hills Village Shops, located at 2540 King Arthur Blvd. in Lewisville, that will add approximately 18,543 square feet for retail and restaurant space and 29,943 square feet of office space. The new phase is scheduled for spring 2013 completion.
DALLAS — Colliers International North Texas has arranged the sale of the 52,750-square-foot Hart Furniture Building, an office and entertainment building located at 1929-1933 Elm St., 201 N. Harwood St. and 1930 Pacific Ave. in downtown Dallas. David Glasscock and Wade Smith of Colliers represented the seller, Cathay Bank, in the transaction. The buyer was Pacific Elm Building.
WEBSTER — NorthMarq Capital has secured $5.8 million in first mortgage refinancing for the 50,100-square-foot Corporate Center Texas, an office building located at 16969 Texas Ave. in Webster. Fiserv, Technology Transfer, Methodist Hospital, Everheart Systems and TRACLabs are major tenants of the property. John Burke and Chad Owens of NorthMarq's Houston office arranged the 10-year loan with a 20-year amortization schedule through a life insurance company on behalf of the borrower, Warehouse Associates Corporate Centre.
SAN ANTONIO — The United States Army Corps. of Engineers has signed Skanska USA to an $88 million contract to construct Phase III of the Lackland Ambulatory Care Center project at Joint Base San Antonio (Lackland) in San Antonio. The 27,900-square-meter property is slated to begin construction in December and be delivered by September 2014.
PEARLAND AND KATY — A joint venture between McFarlin Group and Stroud Development have plans to build Orchard Park of Katy and Orchard Park of Pearland, two memory care/assisted living facilities that will serve 97 residents each. Orchard Park of Katy will break ground in October and be open for occupancy in late 2013. Amegy Bank of Texas will finance the facility's construction. Orchard Park of Pearland will break ground in the first quarter of 2013 and be open for occupancy in late 2013. HUD will finance the facility's construction through its 232 LEAN program. Bedford-based Galier, Tolson and French Design Associates designed the facilities, which will feature landscaped courtyards, private dining amenities, special events venue, fitness/wellness areas, therapy rooms and salons. Meridian Seniors Living will operate both facilities.
TEXAS — Southlake-based N3 Real Estate has acquired an eight-property retail portfolio for $25 million from Dallas-based St. Ives Realty. The properties total 172,329 square feet and are all Walmart Supercenter shadow centers in Alamo, Dumas, Herford, Weatherford, Red Oak and Sweetwater. Tenants of these shopping centers include Verizon Wireless, GameStop, Dollar Tree, Rent-a-Center and Beall's. N3 financed the acquisition through its $250 million Retail Development Investment Fund.
FRISCO — Alliance Architects has completed interior design services for 63,269 square feet of office space at 5300 Town & Country Blvd. in Frisco for Comstock Resources, which occupies three floors of the office building. The redesign included a new internal grand stair that connects all three floors, updated elevator lobby, new catering/serving kitchen, revisions to the storage area, renovations of offices, new breakroom with patio access, remodeled board room and the addition of an executive coffee bar. Highland Builders was the general contractor, Facilities Management and Construction provided construction management services, Brockette Davis Drake provided structural engineering services and Dale Caffey & Associates provided MEP engineering services.
WACO — Deerwood Real Estate Capital has arranged a $15.35 million loan to refinance a 215,000-square-foot retail center that is shadow-anchored by a 150,000-square-foot Target in Waco. The property is currently 83 percent leased. Joe Hercenberg and David Rosenberg of Deerwood arranged the 10-year loan.