HOUSTON — Cushman & Wakefield has arranged a 150,000-square-foot industrial lease transaction with Crane Worldwide Logistics at 6501 Navigation Blvd. in Houston. Jim Foreman and Beau Kaleel of Cushman & Wakefield's Houston office represented the owner, Levey Group, in the transaction. Ed Frantz and Kevin Kushner of CBRE represented Crane Worldwide.
BEXAR COUNTY, TEXAS — Houston-based National Property Holdings LP plans to develop the 400-acre Alamo Junction Rail Park, a rail-based logistics and warehousing development located in Bexar County, which is south of San Antonio and near the middle of the Eagle Ford Shale play. Phase I calls for more than 22,000 linear feet of track, which will begin daily rail service in the third quarter. The rail will ultimately interchange with both the Union Pacific and BNSF railroads. National Property Holdings is selling and leasing lots for operators looking to establish rail-focused transload, warehouse and manufacturing facilities. The company has already sold 50 acres for frac sand operations.
RICHARDSON, TEXAS — The Beck Group has broken ground on the 110,000-square-foot addition for the Naveen Jindal School of Management at The University of Texas at Dallas in Richardson. SHW Group designed the $25 million project to meet LEED standards. The addition will include classrooms, faculty offices, seminar rooms, studios, research centers and an area for the undergraduate honors program. A portion of the facility will be built out while the remaining area will be left as shell space to allow for future growth. The Beck Group anticipates to deliver the addition in fall 2014.
HOUSTON — Marcus & Millichap Capital Corp. (MMCC) has arranged a $16.4 million refinance for a 125,000-square-foot medical office building located in Houston. Peter Dunn of MMCC's Houston office arranged the 10-year, non-recourse bridge loan through a CMBS lender on behalf of the borrower, a general contractor.
IRVING, TEXAS — Sante Fe, N.M.-based Rosemont Realty LLC has inked a 6,769-square-foot office lease with the newly formed College Football Playoff at The Summit at Las Colinas in Irving. The 19-story, 375,305-square-foot office building is located at 545 E. John Carpenter Freeway in the Las Colinas submarket and is 88 percent occupied. The organization will occupy its new headquarters by Aug. 1. Rosemont Realty was self-represented by Kirby White in the transaction. Peery Wood of Lincoln Property Co. represented the tenant. The staff of College Football Playoff will oversee college football's postseason transition from its current BCS format to a playoff system, which will occur beginning with the 2014-2015 season. The organization will also manage the current BCS program in its 16th and final season of existence.
CORSICANA, TEXAS — Northshore Harbor Condominiums, located off South U.S. Highway 287 at the end of Spur 294 in Corsicana, has opened its doors. The Northshore Harbor Condos are located on Richland Chambers Lake just outside Corsicana, and it features the Harbor Inn Marina and the Harbor Inn Restaurant & Club. The 36 condominium units are priced in the $170,000 to $270,000 range and feature a private balcony or patio, granite countertops and stainless steel appliances. Amenities include a saltwater pool, clubhouse, fitness center, cyber cafe and private library.
PLANO, TEXAS — Primera Cos. Inc. has wrapped up construction of the 51,333-square-foot Headquarters Place, an office project located at 5151 Headquarters Drive in the Legacy Business Park in Plano. The office building features 35 pre-finished office suites, two conference centers and a cafe/lounge. The project is currently 20 percent pre-leased. The construction team includes developer Myers & Crow Co., designer Dupree & Associates and owner Primera Headquarters Partners LLC. Aarica Mims and Trevor Franke of Peloton Real Estate Partners are handling leasing responsibilities for the new building. Legacy Texas Bank extended construction financing for the project.
LA PORTE, TEXAS — The Port of Houston Authority has selected Satterfield & Pontikes for a 10-acre repaving project in Terminal 5 for Port of Houston's Barbours Cut Terminal in La Porte. The $7 million project is scheduled for completion in November. The Barbours Cut Terminal handles approximately 3 million tons of cargo on an annual basis. Satterfield & Pontikes will demolish and remove an approximately 400,000 square feet of paving for the project.
PALESTINE, TEXAS — CBRE has arranged the sale of Willow Creek Medical Center, a 27,993-square-foot medical office building in Palestine. The healthcare property is located in the Willow Creek Business Park on Loop 256 and is anchored by an ambulatory surgery center. Scott Herbold, Chris Bodnar and Lee Asher of CBRE's U.S. Healthcare Capital Markets Group represented the seller in the transaction. The Cirrus Group built the medical center in 2010.
AUSTIN, TEXAS — Texas Income Property has brokered the sale of the 88-unit Highland Cove Apartments, a multifamily community located in northeast Austin. Highland Cove was constructed in 1969 and the new owner is planning to renovate the property. Christopher Tucker of Texas Income Property represented the seller in the transaction. Tucker also arranged the sale of the 22-unit Lynridge Apartments, also in northeast Austin.
