Texas

INLAND BUYS STUDENT HOUSING PROPERTY ON TCU CAMPUS

by admin March 11, 2013

FORT WORTH, TEXAS — Dallas-based Inland American Communities, a subsidiary of Inland American Real Estate Trust Inc., has purchased The VUE, a 118-bed, mixed-use student housing property located on the campus of Texas Christian University (TCU) in Fort Worth. The property opened in August 2012 at full occupancy. The four-story mid-rise community features 6,000 square feet of retail space currently under construction. The retailers are expected to open this spring. CBRE's National Student Housing Group assisted in the transaction. The VUE will be rebranded as a University House community.

March 11, 2013

M&M BROKERS SALE OF CANDLEWOOD SUITES VICTORIA

by admin March 11, 2013

VICTORIA, TEXAS — Marcus & Millichap has arranged the sale of the 82-room Candlewood Suites Victoria, located at 7103 Navarro St. in Victoria. The hotel is located in the Eagle Ford Shale play, the largest oil/gas find in the history of Texas. Michael Yu, Rahul Bijlani and Eric Guerrero of Marcus & Millichap's National Hospitality Group in Houston represented the seller, a hotel developer based in southeast Texas. The buyer, a West Coast-based hotel investor, purchased the property at 98 percent of its list price.

March 11, 2013

Hospitality Texas

QUADRANT SECURES CONSTRUCTION FINANCING FOR CONFERENCE CENTER

by admin March 11, 2013

THE WOODLANDS, TEXAS — Dallas-based Quadrant Realty Finance (QRF) has secured construction and renovation financing for the redevelopment of The Woodland Resort & Conference Center in The Woodlands. The property is a 440-room hotel with 60,000 square feet of meeting and conference space located in the heart of The Woodlands. Randy Fleisher, Jason Piering and Dave Leach of QRF arranged the floating-rate loan through US Bank. The borrower will use the proceeds of the loan to remodel the facility, build a new wing of rooms, renovate and update the lobby, construct a steakhouse restaurant and build a lazy river water feature.

March 11, 2013

Mixed-Use Texas

HIGH STREET BREAKS GROUND ON PHASE II OF UNION AT CARROLLTON SQUARE

by admin March 8, 2013

CARROLLTON, TEXAS — High Street Residential, the residential subsidiary of Trammell Crow Co., has broken ground on Phase II of Union at Carrollton Square in Carrollton. Union at Carrollton Square is a transit-oriented, mixed-use community spanning 100,617 square feet and consisting of 132 Class A residential units and ground-floor retail space. Additionally, Twisted Root Burger Co. has signed a 4,658-square-foot, long-term lease to occupy ground-floor space. The restaurant is scheduled to open this spring. Carter Wilson of Cambridge Cos. represented Twisted Root in the lease transaction. John T. Evans of John T. Evans Co. represented High Street. Phase II of the community will offer one- and two-bedroom units, a grilling area for entertaining, an outdoor fireplace and lounging area, bocce ball court, resort-style pool, fitness center, cyber cafe and a 155,330-square-foot parking garage with 337 private and 125 public spaces. Construction is slated for an early 2014 completion.

March 8, 2013

Office Texas

STREAM RENOVATES THIRTY ONE TWENTY IN GREENWAY SUBMARKET

by admin March 8, 2013

HOUSTON — Stream Realty Partners has commenced renovations of Thirty One Twenty, a 93,000-square-foot boutique office building in Houston's Greenway submarket. The office building is located at 3120 S.W. Freeway. Stream acquired the property in August 2012 in a joint venture partnership with American National Insurance Co. The renovations will include the replacement of the building's arched windows, modernization of elevator systems, expansion of the lobby area, installation of modern lighting and furniture in the lobby,addition of greenery and landscaping between the parking garage and main entrance, and installation of a new HVAC system. Clif Kennedy of Stream will manage construction for the project and Ziegler Cooper Architects is providing architectural and design services. Craig McKenna and Adam Jackson of Stream Realty provide leasing services for the property, which is 82 percent leased. Renovations are expected to wrap up in the fall.

March 8, 2013

Retail Texas

CBRE SECURES SALE OF THREE SHOPPING CENTERS IN HOUSTON

by admin March 8, 2013

HOUSTON — CBRE has arranged the sale of three shopping centers in the Greater Houston area totaling 313,344 square feet. The properties include Northwest Village in Houston, Fairway Centre III in Pasadena and The Plazas at Grand Parkway in Katy. Northwest Village is a 189,968-square-foot community center that is 90 percent leased. Houston-based Gordon Partners purchased the center from Denver-based Baceline Investments. Fairway Centre III is a 103,876-square-foot power center fully leased by Sports Authority, Conn's and Office Depot. Fidelis Realty Partners purchased the center from Trammell Crow Co. David Aaronson and Jeff Stein of CBRE secured the equity and debt for the transaction through a life insurance company lender. The Plazas at Grand Parkway totals 19,5000 square feet and is 83 percent leased. Houston-based Vista Equities Group purchased the center from Wellesley Hills, Mass.-based Sun Life Assurance Co. Kevin Holland, Chris Cozby and Chris Gerard of CBRE's National Retail Investment Group represented the sellers in the three transactions.

March 8, 2013

Hospitality Texas

M&M BROKERS SALE OF FAIRFIELD INN & SUITES BY MARRIOTT

by admin March 8, 2013

THE WOODLANDS, TEXAS — Marcus & Millichap has arranged the sale of the 85-room Fairfield Inn & Suites by Marriott, located at 24485 Interstate 45 in The Woodlands. Fairfield Inn is the closest hotel to the new ExxonMobil campus under construction. Michael Yu, Rahul Bijlani and Eric Guerrero of Marcus & Millichap's National Hospitality Group in Houston represented the seller, a Houston-based hotel developer. The buyer was an out-of-state hotel investor who owns multiple hotels across several states.

March 8, 2013

Retail Texas

VENTURE ARRANGES LEASE FOR ANTIQUE MALL OWNERS

by admin March 8, 2013

ARLINGTON, TEXAS — Venture Commercial has secured a second location for antique mall owners Chris Sheidler and Betsy Sheidler. The 53,000-square-foot Cooper Street Antique Mall has opened for business at 4905 S. Cooper St. in Arlington. Christopher Gibbons, Ken Reimer and Katie Vance of Venture Commercial represented the Sheidlers in the lease transaction. John Zikos and Chris Booras, also of Venture, represented the landlord, Sams Dice Arlington LP.

March 8, 2013

Mixed-Use Texas

CENTERGY WEST 7TH BUYS 30 ACRES FOR MIXED-USE DEVELOPMENT

by admin March 7, 2013

FORT WORTH, TEXAS — Centergy West 7th LP, a partnership managed by Centergy Retail, closed on approximately 30 acres of land on West 7th Street in Fort Worth. Centergy purchased the land from Chesapeake Land Development, which originally wanted to build a corporate campus at the site. Centergy is planning to construct a 2 million-square-foot mixed-use development on the lot, which will include retail, residential, office and hospitality components. The tract of land links the Fort Worth Central Business District to the Cultural Arts District.

March 7, 2013

Restaurant Texas

JOE'S CRAB SHACK TO REOPEN SAN ANTONIO RIVER WALK LOCATION

by admin March 7, 2013

SAN ANTONIO — Ignite Restaurant Group has reopened its San Antonio River Walk Joe's Crab Shack location following a three-month renovation. The restaurant, located at 212 College St., has nearly doubled its footprint to 7,600 square feet following the renovation. The restaurant has the capacity to seat 252 guests at one time. Ignite owns and operates 130 Joe's Crab Shacks and 15 Brick House Tavern + Taps.

March 7, 2013

Newer Posts

Older Posts