DALLAS — McCarthy Building Cos. has completed the 124,000-square-foot Dallas City Performance Hall, a multi-phase theater facility in the Dallas Arts District. The facility includes a 750-seat theater, grand lobby, two star dressing rooms, educational/meeting space and an enclosed garden. A future Phase II will feature two 200-seat theaters, an art gallery, cafe and bookshop. Dallas-based Corgan Associates is the architect of record, and Chicago-based Skidmore, Owings & Merrill is providing design services. The facility is on track to be the first LEED Silver performing arts center in Texas.
LUBBOCK — Austin-based American Campus Communities (ACC) has purchased 19 student housing communities across the U.S. totaling 12,049 beds for $862.8 million, including 25Twenty in Lubbock. The 562-bed community houses students from Texas Tech University. ACC's purchase consists of the assumption of $396.2 million of outstanding mortgage debt and $466.6 million in cash. The acquisition is slated to close in the fourth quarter of this year. The portfolio is currently 92.3 percent occupied for the 2012-2013 academic year. ACC is planning on replacing six different third-party managers at the close of the transaction. Affiliates of Kayne Anderson Capital Advisors are the sellers of the portfolio.
AUSTIN — Velocis has purchased West Woods Shopping Center and Springdale Shopping Center, two centers located in Austin totaling more than 350,000 square feet. The shopping centers are valued at approximately $60 million. The 189,340-square-foot West Woods is located at the intersection of Bee Caves Road and Walsh Tarlton Lane. The center is 97 percent leased to Stein Mart, Michael's, Petco and CVS/pharmacy, as well as a variety of local boutique shops. The 163,677-square-foot Springdale Shopping Center is located in northeast Austin near the new Mueller Airport redevelopment. H-E-B anchors the center, whose other tenants include Fashion Outlet, Carousel Pediatrics, Family Dollar and O'Reilly Auto Parts.
HOUSTON — Marcus & Millichap has brokered the sale of a Comerica Bank branch in Houston. Alvin Mansour of Marcus & Millichap's The Mansour Group in San Diego represented the seller, a developer, in the transaction. The buyer was a Southern California-based investor.
CEDAR HILL — Uptown Village at Cedar Hill, a 615,000-square-foot shopping center located at 305 W. FM 1382 in Cedar Hill, has added new tenants to its roster. Recent store openings include Wet Seal, PS from Aeropostale, Crazy8, Kid's Foot Locker and Christopher's Menswear. Journeys and DXL Men's Apparel will open new stores in December as well. In 2013, Kay Jewelers and Massage Envy will open new stores. In addition, The MGHerring Group, owner of Uptown Village, has installed three Electronic Vehicle (EV) charging stations at Uptown Village. Cedar Hill is currently the only city with EV charging stations between Dallas and Houston.
FRISCO — Hall Financial Group will soon begin construction of a 200,000-square-foot office building, located at 3001 Dallas Parkway in Hall Office Park in Frisco. The City of Frisco and the Frisco Economic Development Corp. provided development incentives for the project. The eight-story building will feature a two-story atrium lobby and exterior signage at the top of the building for one key tenant. The groundbreaking is scheduled for early 2013 and completion is slated for April 2104.
FORT WORTH — Alliance Architects has been selected to provide architectural and design services for Tandy Leather Factory's flagship store, which will be located adjacent to Tandy's corporate headquarters in Fort Worth. The 21,000-square-foot property will feature meeting/teaching space on the lower level. Bob Moore Construction is providing general construction and construction management services. The project is slated for a March 2013 completion.
SAN MARCOS — Hendricks & Partners has brokered the sale of Vantage at San Marcos apartments, a 240-unit, Class A community located at 1350 Saddler Drive in San Marcos. Mike Miller, Chris Ross and Will Caruth of Hendricks & Partners' San Antonio office represented the seller, San Antonio-based AOH-Vantage at San Marcos, in the transaction. The buyer was an out-of-state REIT.
FORT WORTH — Marcus & Millichap has arranged the sale of a 32,400-square-foot Ross Dress for Less, located at 4629 S. Hulen St. in Fort Worth. Jason Vitorino of Marcus & Millichap's Dallas office represented the seller, a partnership, and the buyer in the transaction.
HOUSTON — Resurgent Capital Services has leased a full floor of office space at 2020 S. Dairy Ashford in Houston, totaling 17,287 square feet. Marshall Clinkscales of Colliers International represented the tenant in the lease transaction. D.A. Smith of Briarhollow Realty Group, along with Ted Carey of Realty Services Group, represented the landlord, DAP Plaza Ltd.