Texas

BRIXMOR SELLS FIVE SHOPPING CENTERS

by admin August 16, 2012

HOUSTON — Brixmor has sold five shopping centers totaling 262,755 square feet in the Houston MSA. The centers include North 45 Plaza, Tidwell Place Shopping Center and Lazybrook Shopping in Houston, as well as Parkview West Shopping Center and Parkview East Shopping Center in Pasadena. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller in the transaction. A Dallas-based private investor group acquired North 45 Plaza, Tidwell Place and Parkview West. A Houston-based investor purchased Lazybrook and an Amarillo-based partnership acquired Parkview East.

August 16, 2012

THREE FIRMS SIGN LEASES AT HALL OFFICE PARK

by admin August 16, 2012

FRISCO — Three firms have signed new leases at Hall Office Park, a 2 million-square-foot office development located in Frisco. Bolinger & Hogue has renewed its lease for 2,816 square feet at 2595 Dallas Parkway; Jordan, Houser & Flournoy has renewed its lease for 1,103 square feet at 2591 Dallas Parkway; and Maxim Management has signed a new lease at 2801 Network Blvd. Kim Butler, Tammy Nellis and Brad Gibson of Boyer Group represented the landlord, Hall Financial Group, in the lease transactions. Greg Whittington of Cresa Partners represented Bolinger & Hogue and Alexis Martinez of Stream Realty represented Maxim Management Group.

August 16, 2012

Mixed-Use Texas

USAA, CAMBRIDGE BREAK GROUND ON MIXED-USE PROJECT

by admin August 15, 2012

SAN ANTONIO — USAA Real Estate Co. and Houston-based Cambridge Development Group have begun construction on The Residences at La Cantera, a high-end, 323-unit multifamily property located at 6215 Via La Cantera in San Antonio. The development will also include 4,000 square feet of retail space and a three-acre park with an urban plaza, lawn, playground, pond and shaded picnic areas. The development is the first phase of a mixed-use development called Town Center at La Cantera, which will feature hotel, office, retail and multifamily components. The development will eventually be linked to San Antonio's planned Leon Creek Hike & Bike Trail. The Residences at La Cantera will feature a clubhouse, cyber cafe, resort-style swimming pool, Jacuzzi, fitness center with yoga classrooms, an outdoor kitchen, fire pit and rooftop terrace. Dallas-based CF Jordan Construction served as general contractors, San Antonio-based Pape-Dawson Engineers served as the civil engineers, Looney Ricks Kiss Architecture designed the project, J. Robert Anderson was the landscape architect and San Antonio-based Riverstone Residential Group will manage the property upon completion. The property is designed to meet Texas Green certification standards.

August 15, 2012

Office Texas

PM REALTY GROUP BUYS SUGAR CREEK ON THE LAKE

by admin August 15, 2012

SUGAR LAND — PM Realty Group has acquired the 515,000-square-foot Sugar Creek on the Lake, a Class A office building located at 14141 SW Freeway in Sugar Land. The purchase also included a parking garage and 14.72-acre parking lot. PM Realty plans to invest $13 million in capital improvements and additional parking with its equity partners, PCCP and Fuller Realty Partners. The building was fully occupied by Chevron until its lease expired in March 2010. The property is currently 20 percent occupied by Money Management International and Hightower Deli.

August 15, 2012

Multifamily Texas

TRANSWESTERN BROKERS SALE OF MIRABELLA

by admin August 15, 2012

HOUSTON — Transwestern has secured the sale of the 161-unit Mirabella, a multifamily community located at 3001 Hillcroft St. in Houston. Ed Cummins of Transwestern represented the seller, G.I.C. Investments, in the transaction. The buyer was Vende Capital. Transwestern's Houston Multifamily Group has completed 11 sales transactions totaling 3,288 units in the past three months.

August 15, 2012

Industrial Texas

JLL SECURES 116,000 SF INDUSTRIAL LEASE

by admin August 15, 2012

HOUSTON — Jones Lang LaSalle has arranged a 116,000-square-foot lease for an industrial property, located in the Hempstead Highway Distribution Center at 11850 Hempstead Highway in Houston. The tenant, Dal-Tile, is renewing its existing 75,000-square-foot lease and is expanding an additional 41,000 square feet. John Talhelm and Kevin Erck of Jones Lang LaSalle represented the tenant in the lease transaction. Brian Gammill of Transwestern represented the landlord.

August 15, 2012

Multifamily Texas

WALKER & DUNLOP ARRANGES $27.5M MULTIFAMILY LOAN

by admin August 15, 2012

PLANO — Walker & Dunlop have secured a $27.5 million loan under HUD's 223(f) program for the 364-unit Carrington Apartments, a Class A, garden-style complex located in Plano. The complex features two swimming pools, a nine-hole putting green, a clubhouse, fitness facility, business center and coffee bar. The complex is currently 96 percent occupied. Michelle Warner of Walker & Dunlop, along with Pat McFarland of Churchill Capital Co., arranged the loan with a 35-year amortization schedule. The sponsor was The England Group.

August 15, 2012

Healthcare Texas

ASCENSION BEGINS LONGVIEW REGIONAL EXPANSION

by admin August 14, 2012

LONGVIEW — Arlington-based Ascension Group Architects has begun the expansion and renovation of Longview Regional Medical Center, located in Longview. The 175,000-square-foot expansion includes 100 new acute care rooms, a three-story tower, third and fourth floors to the existing building and space for new physicians. The floors of the existing building will be renovated as well to make room for eight oncology beds on the first floor and moving 15 beds in the skilled nursing unit from the first floor to the second floor. Also, five maternity units will be added to the existing six units, and 13 antepartum/postpartum beds will be added to the existing 17. In the nursery, 10 bassinets will be added to bring the total to 24. The new expansion will also add four triage spaces and a C-section room. Birmingham, Ala.-based Robins & Morton is serving as general contractor for the expansion project, which will be built in phases and is slated for a late 2013 completion.

August 14, 2012

Retail Texas

CVS DRUGSTORE NEAR TCU SELLS FOR $7.14M

by admin August 14, 2012

FORT WORTH — Marcus & Millichap has brokered the $7.14 million sale of a 12,738-square-foot CVS/pharmacy drugstore, located at 2603 W. Berry St. near the entrance to Texas Christian University (TCU) in Fort Worth. Lior Regenstreif of Marcus & Millichap's Encino, Calif., office represented the seller, a REIT, in the transaction. Scott Sandelin of Marcus & Millichap's Miami office represented the buyer, a private investor. Timothy Speck of Marcus & Millichap's Dallas office served as the firm's broker of record in Texas.

August 14, 2012

Texas

HFF SECURES SALE OF SELF-STORAGE PORTFOLIO

by admin August 14, 2012

HOUSTON — HFF has arranged the sale of a four-property self-storage portfolio totaling 235,793 square feet, located in the Houston area. The sale includes a 440-unit, 52,488-square-foot property located at 7825 Katy Freeway in Houston; a 437-unit, 58,761-square foot property located at 23550 Highway 290 in Cypress; a 411-unit, 52,020-square-foot facility located at 15707 Bellaire Blvd. in Houston; and a 450-unit, 72,524-square-foot property located at 1919 Broadway in Pearland. Aaron Swerdlin, Doug McCarron and Barbara Guffey of HFF represented the seller, a joint venture between Private Mini Storage and Clarion Partners, in the transaction. The buyer was CubeSmart.

August 14, 2012

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