COTULLA — The Sperry Van Ness National GSA Team has arranged the $4.3 million sale of a three-building, 23,485-square-foot U.S. Border Patrol property, located at 1550 Double C Drive on the Interstate 35 access road in Cotulla. THe property includes a high-security administration/detention building, vehicle maintenance and kennel facilities. Mark Phillips and Tim Strange of Sperry Van Ness represented the seller, DLI Cotulla, in the transaction. Bruce Marshall of Sperry Van Ness' Dallas office represented the buyer, UIRC-GSA Cotulla TX.
Texas
LANCASTER — Grapevine-based SQN Realty Finance has acquired a 16,789-square-foot medical office building, located in Lancaster. The property is currently 36 percent leased to DaVita Dialysis. The property had been lender-owned since May 2011. Dallas-based Dominus Commercial will manage the center, as well as handle leasing.
DALLAS — Dallas-based Community Beer Co. has leased 21,600 square feet of space at 1530 Inspiration Drive in Dallas, located adjacent to the city's Design District. The space will be used for the company to brew craft beer. Cribb Altman of Cushman & Wakefield of Texas represented the tenant in the transaction. John Hoctor of Hoctor Commercial Properties represented the landlord, Grossman & Frank.
HOUSTON — Brookhollow Central I, a 200,812-square-foot office property located at 2800 North Loop W. in Houston, has plans to undergo an $11 million renovation. Ziegler Cooper Architects will design the project to LEED Gold standards and Turner Construction will serve as the general contractor. The renovation will include expanding a two-story lobby and adding new entrances from Loop 610 and the parking garage. Construction is slated for a late 2012 completion. Parmenter Realty Partners is the owner of the 12-story, Class A office building, and Chip Colvill, Michael Anderson and Win Haggard Jr. of Colvill Office Properties will continue to handle the property's leasing.
HOUSTON — Construction has begun the second phase of BLVD Place, a mixed-use development located in Houston's Uptown District. This phase of BLVD Place will contain approximately 211,000 square feet of retail and office space. The development is 60 percent pre-leased and will include a 48,500-square-foot Whole Foods and Frost Bank will occupy 53,000 square feet. W.S. Bellows Construction Corp. is the general contractor for Phase II and Comerica Bank, Wells Fargo, Whitney Bank and Cadence Bank are providing construction financing. San Francisco-based Stockbridge Capital Group served as the equity investment advisor, AECOM's Los Angeles office designed the project and Walter P. Moore served as the civil engineer. The transaction was closed at Stewart Title Co. Bill Boyer and Charles Gordon of CBRE Group, along with Scott Gardner of SRS Realty, represented Frost Bank in its lease transaction. Chip Colvill of Colvill Office Properties and Elise Weatherall of Wulfe & Co. represented the owner.
NACOGDOCHES — North Village Market, a three-phased, mixed-use development located in Nacogdoches, has broken ground. The first phase of 4,500 square feet is slated to open in the fall of 2013, with another 8,000 square feet expected to open in the next two phases. Newk's will anchor the property, and North Village Market LLC, a division of Nacogdoches-based Jones Enterprises LTD, owns the development. Nacogdoches-based Army Curtis designed the project to include a tree-lined boulevard, a roundabout circling a large Texas flag, benches and walkways with antique street lights.
AUSTIN — Berkeley Point Capital has funded $52.3 million in first mortgage financing for the 348-unit West Campus II, a Class A dedicated student housing community located in the West Campus section of Austin. The community is part of a larger two-phased community known as The Quarters and is within walking distance of the University of Texas. Amenities of the community include courtyards, a 24-hour fitness center, on-site parking, stained concrete floors and furnished units upon request. Adam Randall of Berkeley Point's Bethesda, Md., office arranged the 10-year loan with full-term, interest only payments through the Fannie Mae DUS Student Housing program.
DALLAS — NorthMarq Capital has secured $8 million in acquisition financing for the 37,612-square-foot Knox Street Promenade, a retail/restaurant development housing six tenants located in Dallas. Phillip Bankhead of NorthMarq's Dallas office arranged the 15-year loan with a 30-year amortization schedule through a life insurance company.
DALLAS — Methodist Dallas Medical Center has broken ground on the new six-story, $108 million Charles A Sammons Trauma and Critical Care Tower, located in Dallas. The 248,000-square-foot trauma and critical care center will include 58 emergency room beds, six trauma suites, eight surgical suites and a 36-bed critical care unit. The hospital will also have the ability to expand to 11 stories for future growth. The construction will be supported by a $20 million BrightER campaign. Completion is slated for summer 2014.
HOUSTON — Transwestern, through a joint venture with Denver-based Miller Global Properties, has purchased a 20.8-acre tract of land to develop Westgate, a 660,000-square-foot, Class A office project to be located in the Energy Corridor of Houston. The site has extensive frontage on the north side of Interstate 10. Westgate will consist of a four-story, 248,500-square-foot building; a four-story, 186,000-square-foot building; and a five-story, 225,500-square-foot building, each of which will have its own parking structure. The development is 67 percent pre-leased. EE Reed will be the project's general contractor, and Powers Brown Architecture will design the project to achieve LEED Silver certification. Carleton Riser, Sean Suffel and Mark Miller of Transwestern are spearheading the design and development of the project. Jeff Peden and David Cook of Cushman & Wakefield represented the seller, Hearst Corp., in the land transaction. Transwestern was self-represented.