PLANO — The Plano Independent School District has selected Cadence McShane to complete an 86,000-square-foot expansion project at Plano West Senior High School, located at 5601 W. Parker Road in Plano. The construction assignment includes building a two-story, 52,000-square-foot career/technology center and adding space to three campus buildings. The project is slated for a May 2013 completion. Dallas-based WRA Architects is providing architectural services for the construction/expansion project.
Texas
ALLEN — The owners of Jumpstreet have purchased a 62,332-square-foot retail property that was once leased to Albertsons. The property is located at 2031 W. McDermott Drive in Allen. John Zikos, Christopher Gibbons, Amy Pjetrovic-Hunnicut and Chris Booras of Venture Commercial represented the seller, Albertsons, in the transaction. The Venture Commercial brokers are representing Albertsons in the disposition of all their north Texas stores. Dallas-based Newmark Real Estate and Mike Quinlan of Denver-based Newmark Knight Frank Frederick Ross represented the buyer in the transaction.
HARLINGEN — Austin-based Cielo Realty Partners has purchased a 40,000-square-foot office building, located at 2200 Haine Drive in Harlingen. Cielo plans to begin renovating the property immediately. Brandon Beason of Edge Realty and Connie de la Garza of Bahnman Realty represented the seller in the transaction. The buyer was self-represented.
DALLAS — Marcus & Millichap has arranged the sale of the 12-unit Crossroad Gardens Townhomes, located at 13333 Maham Road in Dallas. Each unit has two bedrooms and two-and-a-half bathrooms. Robert Denninger of Marcus & Millichap's Dallas office represented the seller, a limited liability company, in the transaction.
FARMERS BRANCH — Maxim Integrated Products has sold its 20,350-square-foot office/flex building, a single-story property located at 4220 Beltwood Parkway in Farmers Branch. The disposition is the first of 13 vacant properties that Maxim is planning to sell following the company's acquisition of Dallas Semiconductor Corp. in 2001. Maxim now occupies a new 138,000-square-foot Class A property. Leigh Richter and Jason Miller of Bradford Commercial Real Estate Services are representing the seller for all 13 dispositions, either on an individual or bulk basis. Brian Pafford, also of Bradford, represented the buyer, ACMC Ventures LLC, in the transaction.
COLLEGE STATION — Woodridge College Station I LLC has plans to construct a student housing development in two phases at the northwest corner of University Drive and Texas Avenue in College Station. The location once was home to the 17-story Plaza Hotel, which was imploded in May 2012 to make way for the new student housing property. Phase I of the development will include 928 beds and approximately 53,000 square feet of retail, restaurants and public space. Phase I is slated for a fall 2014 delivery. Phase II will include the addition of 1,000 beds and is slated for a fall 2015 delivery. Woodridge College Station is an affiliate of Los Angeles-based Woodridge Capital Partners. Woodridge College Station is developing the student housing property in partnership with funds managed by Oaktree Capital Management and in collaboration with Capstone Collegiate Communities. Construction is slated to begin in spring 2013.
HOUSTON — Dallas-based Westmount Realty Equities has provided joint venture equity to ParaWest Group to acquire the 360-unit Beverly Palms Apartments, located near the Galleria Shopping Mall in Houston. The apartment community is currently 98 percent occupied and is slated to undergo a planned $1 million renovation.
DALLAS — Institutional Property Advisors (IPA), the multifamily brokerage division of Marcus & Millichap, has brokered the sale of a two-property apartment portfolio totaling 560 units in Dallas. The properties include the 328-unit Pace's Cove Apartment Homes, located at 13100 Pandora Drive, and the 232-unit Brookfield Apartment Homes, located at 4060 Preferred Road. Will Balthrope and Drew Kile of IPA represented the seller, Landmark Residential, in the transaction. Balthrope and Kile also represented the buyer, Peak Capital Partners.
MIAMI BEACH, FLA. — Miami Beach-based Savitar Realty Advisors has converted South Beach’s Lincoln Theatre from a historic movie theater and symphony hall into a 35,000-square-foot retail property. It is scheduled to open in November and will house Swedish retailer H&M’s 30,000-square-foot flagship store as well as smaller tenants like Swatch; Sabon; 4D Gelato; and 100 Montaditos, a Spanish tapas and sandwich style restaurant. Savitar Realty Advisors and a group of investors acquired Lincoln Theatre for $21.5 million in February 2010. The historic building was designed and built in 1935 by cinema architect Thomas Lamb in classic art deco style.
IRVING — Jones Lang LaSalle has brokered the sale of the 129,321-square-foot Imperial Square, a one-story office building located at 2401-2477 Gateway Drive in Irving. Bo Bond and Larry McCorkle of Jones Lang LaSalle represented the seller, Rushmore Imperial Square LP, in the transaction. The buyer was Red River Imperial Square LLC.