KATY — Eastgroup Properties has begun construction on a 30,000-square-foot build-to-suit headquarters facility for Welltec Americas, located at Merchants Way and Ravello Drive in Katy. The new facility will include a training facility for field engineers, technicians, maintenance and sales associates. Welltec worked with the Katy Area EDC for the development.
HOUSTON — Marcus & Millichap has brokered the sale of a 145-bed congregate care seniors housing facility, located at 2801 Gessner Road in west Houston's Spring Shadows area. Doug O'Toole of Marcus & Millichap represented the seller, MetroNational, in the transaction. The buyer of the non-performing asset was Signature Healthcare Services, which plans to reopen the 122,786-square-foot facility as a drug/rehabilitation hospital.
SAN ANTONIO — NAI REOC has arranged Sygma Network's lease renewal and expansion of 257,250 square feet of industrial space at Rittiman Industrial Park, a 1.18 million-square-foot industrial property located in San Antonio. John Turcotte of NAI REOC represented the landlord, Delaware-based DCT Rittiman, in the lease transaction.
HOUSTON — Toronto-based Avison Young has been selected to provide leasing services for a two-building office portfolio totaling 267,578 square feet in Houston. The portfolio includes a 100,352-square-foot property located at 110 Cypress Station Drive and the 167,226-square-foot Creekridge II, a three-story property located at 140 Cypress Station Drive. The owner of the portfolio is Sante Fe, N.M-based Rosemont Realty. Lee Jeane of Avison Young will handle the leasing and marketing services for both properties.
OKLAHOMA CITY, OKLA. — Dallas-based Metropolitan Capital Advisors (MCA) has secured a $63 million mortgage for the new Boeing Regional Headquarters Campus, located across from Tinker Air Force Base in Oklahoma City. Todd McNeill and Sunny Sajnani of MCA arranged the 10-year loan with a 30-year amortization schedule. The proceeds from the loan were used to retire existing debt, pay for capital improvements, fund closing costs and return equity to the sponsor.
KATY — EastGroup Properties is going to begin the first phase of Ten West Crossing, a 40-acre business park located on Merchants Way near Interstate 10 and Mason Road in Katy. The first stage of development will include a 45,000-square-foot flex facility and a 67,000-square-foot light industrial property. On full build-out, Ten West Crossing will span 552,000 square feet. EastGroup and its leasing partner InSite Realty worked closely with the Katy Area EDC on the development.
DALLAS — Los Angeles-based CIM Group and Open Realty Advisors have purchased 28 buildings totaling 130,000 square feet of retail, restaurant and commercial space along the Henderson Avenue corridor in Dallas. The corridor connects the Highland Park and East Dallas submarkets.
HOUSTON — Commercial Resource Capital has refinanced the 263,385-square-foot Younan Square, a 20-story office building located at 1010 Lamar in downtown Houston. The office building also includes the 1111 main parking garage. Toby Kettle and Jason Dannatt of Commercial Resource Capital arranged the five-year, fixed-rate loan.
AUSTIN — The State of Texas has renewed its 73,621-square-foot lease at Summit Tech Center, located at 14000 Summit Drive in Austin. Daniel Farrar, Will Nichols and Sam Owen of Stream Realty Partners represented the landlord in the lease transaction.
Cheers and the clamor of new construction are among the dominant sounds wafting above the downtown Austin skyline of late, as the city welcomes a new wave of hotel construction and construction plans. Not a moment too soon. For several years, the hospitality industry has fretted that Austin’s growth as a destination city is outpacing the development of hotel accommodations, particularly in and around downtown. Voila! Hospitality’s proverbial “rooms available” signs are flickering brighter. By early 2013, no fewer than five major hotels will be under construction, delivering more than 2,000 rooms to Austin’s central business district. From all indications, more hotel developments are in the offing for later next year. That’s welcome news for those who promote Austin’s viability as a destination city and who roll out the red carpet for everything from conventions and corporate meetings to spring break activities and mega-events. In mid-November, Austin will debut as host city, through 2021, of the Formula One U.S. Grand Prix, accommodating Formula One racing’s return to the U.S. following a five-year absence. This high-profile race could attract some 300,000 fans. The South by Southwest Film Conference and Festival, Rodeo Austin, and the Austin City Limits Music Festival are just …