Texas

SAN ANTONIO MIXED-USE DEVELOPMENT SELLS

by admin March 25, 2013

SAN ANTONIO — Lone Star Funds has purchased Eilan, a 120-acre luxury mixed-use development located at 17101 La Cantera Parkway in San Antonio, as part of a 20-property U.S. portfolio. The development includes 205,000 square feet of Class A office space, The Shops at Eilan, the 165-room Eilan Hotel Resort & Spa and a Sustenio restaurant. Lone Star Funds plans to expand Eilan to include a new 5,000-square-foot fitness center, two new pools, a hiking/biking trail and a Piatti restaurant. CBRE San Antonio is responsible for leasing Eilan's office and retail space, with Lindsey Tucker and Steve Thomas handling the office leasing and Gene Williams handling the retail leasing.

March 25, 2013

COLLIERS BROKERS SALE OF 75,000 SF OFFICE BUILDING

by admin March 25, 2013

IRVING, TEXAS — Colliers International North Texas has arranged the sale of Crestwood Center, a 75,000-square-foot office building located at 1200 W. Walnut Hill Road in the Las Colinas submarket of Irving. Creighton Stark and Ben Lurie of Colliers represented the seller, Austin-based Capital Commercial Investments, in the transaction. The buyer is Texas Prince Properties.

March 25, 2013

Civic Texas

UPTOWN DALLAS BREAKS GROUND ON GRIGGS PARK IMPROVEMENTS

by admin March 25, 2013

DALLAS — Uptown Dallas Inc., a nonprofit that manages the Uptown Public Improvement District, has commenced construction on the eight-acre Griggs Park. The park is located near the intersection of Woodall Rodgers Freeway and Central Expressway in Dallas. The construction kicks off the start of the Griggs Park Capital Campaign project. The construction includes children's facilities, kiosks, benches, picnic tables, groves of new trees, pedestrian pathways and fountains. Uptown Dallas will also add commemorative markers honoring the park's namesake, Rev. Allen Griggs, a former slave and pastor of the New Hope Baptist Church in the 1870s. Approximately $1.5 million has been allocated through a public-private partnership for the construction. The City of Dallas will provide basic upkeep and Uptown Dallas will be responsible for planting, watering, electricity and other park maintenance. SWA Group designed the park originally and ValleyCrest Landscape Cos. is completing the park's landscaping. Construction is slated for a fall 2013 completion.

March 25, 2013

Retail Texas

NORTHMARQ ARRANGES $13.9M REFINANCE FOR ROANOKE CROSSING

by admin March 25, 2013

ROANOKE, TEXAS — NorthMarq Capital has arranged a $13.9 million refinancing for Roanoke Crossing Shopping Center, a 78,222-square-foot retail center located at 101 E. Highway 114 in Roanoke. Walmart and The Home Depot anchor the center, but neither are part of the collateral. Other tenants include Dickey's BBQ Pit, Payless, Shoe Source and Subway. JP Morgan Chase, Just Brakes, Chili's, Sonic, Taco Bueno, Wells Fargo Bank and Wendy's occupy the seven pad sites. John Stewart and Ilan Reissner of NorthMarq Capital arranged the financing for the borrower, a national account.

March 25, 2013

Texas

JLL TO BRING CAMP STRAKE PROPERTY IN HOUSTON TO MARKET

by admin March 25, 2013

HOUSTON — The Sam Houston Area Council and the Boy Scouts of America have hired Jones Lang LaSalle to bring the council's Camp Strake property to market. Camp Strake is located on the southwest corner of Interstate 45 North and Loop 336 in metro Houston. The 2,100-acre development site features more than two miles of commercial frontage, residential areas and land available for recreation, parks, hiking and biking trails and environmental migration.

March 25, 2013

Market Reports Texas Texas Market Reports

The Woodlands Office Market Enjoys Decreasing Vacancy, Rising Rental Rates

by admin March 25, 2013

The Woodlands office submarket is one of Houston’s better performing submarkets, experiencing a robust fourth quarter 2012 with total absorption of 107,932 square feet. Spec office buildings have recently achieved 85 percent occupancy or higher prior to completing construction. For example, both 4 Waterway Square Place (a nine-story, 216,000-square-foot Class A building) and 3 Waterway Square Place (an 11-story, 234,000-square-foot Class A building) preleased to more than 95 percent prior to completion of construction. Total net absorption registered a positive 145,804 square feet in 2012. In addition, total vacancy for the market dropped 5.2 percent overall in the third quarter of 2012 to 4.2 percent in the final quarter of 2012. Class A rental rates in the second quarter of 2012 were $33.07, up 83 basis points from the prior quarter. Similarly, Class B rates increased three basis points to $22.81. Based on the continued decreasing vacancy rates, as well as continued increasing rental rates, The Woodlands projects to be a landlord favorable market for the year 2013. Several high-profile projects are under construction, including: • ExxonMobil Corp. is currently developing a 385-acre site along Interstate 45 and Spring Creek. The site will serve to consolidate all upstream Houston ExxonMobil …

March 25, 2013

Hospitality Texas

RLJ LODGING TRUST ACQUIRES HUMBLE OIL BUILDING FOR $79.5M

by admin March 22, 2013

HOUSTON — RLJ Lodging Trust has acquired the historic Humble Oil Building, a three-tower complex that occupies an entire city block in downtown Houston, for $79.5 million. The purchase price equates to approximately $151,000 per key, based on a combined forward room count of 528 keys. The Humble Oil Building consists of an 82-room apartment tower that will be converted to a 166-room SpringHill Suites, as well as two existing hotels. The hotels include the 191-room Courtyard Houston Downtown Convention Center and the 171-room Residence Inn Houston Downtown Convention Center. RLJ Lodging purchased the buildings with its revolving credit facility. The new SpringHill Suites is scheduled to open in mid-2015.

March 22, 2013

Industrial Texas

ACE HARDWARE'S 450,000 SF FACILITY COMING TO WILMER

by admin March 22, 2013

WILMER, TEXAS — CenterPoint Properties has broken ground on ACE Hardware's new 450,000-square-foot, build-to-suit facility in the Sunridge Business Park in Wilmer. ACE Hardware will lease the property for 10 years upon its completion. CBRE represented ACE Hardware in its lease transaction. The facility is slated for a February 2014 completion.

March 22, 2013

Office Texas

BILLINGSLEY TO BUILD SPEC OFFICE BUILDING, ROADWAY

by admin March 22, 2013

DALLAS — Dallas-based Billingsley Co. plans to build a new, 150,000-square-foot office building and four-lane roadway at Cypress Waters, Billingsley's 1,000-acre mixed-use development in Dallas. The three-story property is Billingsley's first office building in Cypress Waters and will break ground in July. The project is slated for a July 2014 completion. Additionally, Phase I of Cypress Waters' multifamily communities will open this year. Scotch Creek and Parsons Green are scheduled to open this summer and Sycamore Park is expected to open in the fall.

March 22, 2013

Industrial Texas

ALLIANCE TO DESIGN L'OREAL USA'S DISTRIBUTION CENTER IN DALLAS

by admin March 22, 2013

DALLAS — L'Oreal USA has selected Alliance Architects Inc. to design its new 513,947-square-foot distribution center, which will be located on a 50-acre site within the Ridge Logistics Center in Dallas. The new facility will be situated on the corner of Telephone Road and Dallas Avenue. The property will have expansion capabilities of up to 400,000 square feet. The distribution center will include 13,000 square feet of office space, separate shipping and receiving areas, locker rooms and indoor/outdoor break areas. Ridge Property Trust is the developer for the build-to-suit property and Hill & Wilkinson are the general contractors. The Alliance design team includes Scott Meyer and Ashley Griffith.

March 22, 2013

Newer Posts

Older Posts