DALLAS — Compatriot Capital, along with JLB Partners, has commenced construction on a luxury 299-unit, Class A high-rise located at 2728 Cedar Springs in Uptown Dallas. The 18-story community will be situated on the Katy Trail. The high-rise will feature upscale amenities, including a private penthouse lounge, roof deck pool overlooking downtown Dallas, a wellness center with a yoga lawn and a private dog park and pet spa. The complex will offer one-, two- and three-bedroom units ranging in size from 622 to 3,717 square feet. Completion of the project is slated for spring 2015. GDA Architects will complete the design work, and Pacific Life Insurance Co. will provide construction and permanent financing for the development.
Texas
HOUSTON — A joint venture between Panattoni Development Co. Inc. and LaSalle Investment Management Inc. has acquired a 125-acre parcel of land for industrial development located on North Gessner Road in northwest Houston. The development, known as Beltway Crossing NorthWest, will be used to develop 2 million square feet of primarily warehouse and distribution buildings with both speculative and build-to-suit projects. Stephen Schneidau and Dave Cook of Cushman & Wakefield negotiated the transaction. Schneidau will partner with Jim Foreman and Beau Kaleel of Cushman & Wakefield to lease the product.
AUSTIN, TEXAS — Marcus & Millichap Real Estate Investment Services has brokered the sale of Raintree, a 34-unit apartment property located at 8806 Redfield Lane in Austin. Kent Myers, Joe James and Hector Granado of Marcus & Millichap’s Austin office represented the seller, a partnership, and secured the buyer, a limited liability company, in the transaction.
RICHARDSON, TEXAS — Axiom Manufacturing has renewed its lease of 14,730 square feet of flex space at 1226 Exchange Parkway in Richardson. Janice Peters of Hudson Peters Commercial represented the landlord, Park North Service Center Ltd., in the transaction. George Tanghongs and Brett Lewis of Lee & Associates represented the tenant.
HOUSTON — Ziegler Cooper Architects has completed an $11 million redevelopment project at Brookhollow Central I, part of a three-building, 800,000-square-foot office complex located in the North Loop West submarket near Loop 610 and U.S. 290 in Houston. The updates include renovating the building glass, entrance portals, lobby finishes, garage-building connector, floor restrooms, corridors and elevator lobbies. The renovations also included mechanical upgrades, environmental graphics, vertical transportation improvements, garage improvements and new landscaping. Ziegler Cooper will continue redevelopment of the office campus under owner Parmenter Realty Partners. Ziegler hopes to achieve LEED for Existing Building (EB) certification.
FORT WORTH, TEXAS — General contractor Weis Builders has delivered a new $8.7 million Homewood Suites in Fort Worth. The building opened one month ahead of schedule, and features a business center, meeting space, exercise room, exterior pool, sport court and patio grilling area. The complex is part of a trio of projects that Weis Builders completed at Midtown Urban Village, a 10-acre redevelopment project located at 2222 W. Rosedale St.
FORT WORTH, TEXAS — Ricky Bobby Sports Saloon, a new restaurant and sports bar with a Nascar racing theme, is set to open at 2200 N.E. Loop 820 in Fort Worth near the Texas Motor Speedway. The restaurant is the latest member of the Rick’s Cabaret International Inc. restaurant group. The restaurant will feature two full service bars, flat screen televisions throughout, a 3,000-square-foot patio with fire pits, fountains and a stage for live band performances.
SAN ANTONIO — Travis Commercial Corp. Services has brokered the acquisition of Heritage Oaks I, an 84,000-square-foot, Class A office building located on Loop 1604 and Bitters Road in San Antonio. Zachry Corp. purchased the property, which will serve as its new headquarters. Mark Krenger and Jeff Miller of Travis Commercial provided acquisition and advisory services to Zachry Corp.
DALLAS — Rosemont Realty LLC has secured a long-term lease expansion from NorthPark Management at 8080 NCX, a 286,921-square-foot office complex located at 8080 N. Central Expressway in Dallas. The building is currently at 95 percent occupancy. Kirby White represented Rosemont Realty in-house and John Amend and J.W. Amend of the Amend Group represented NorthPark Management in the transaction.
LONGVIEW, TEXAS — ARA has arranged the sale of The Tree House Apartments, a 172-unit multifamily community in Longview. Bart Wickard and Brian O'Boyle Jr. represented the seller, Kansas City, Mo.-based Kelco/Maxus Properties, in the transaction. Las Vegas-based Koza Consulting LLC was the buyer. The property was 96 percent occupied.