TEXARKANA — Dallas-based Weis Builders has delivered the Texarkana Convention Center and the adjoining Hilton Garden Inn, Texarkana's first full-service hotel and convention center. The $17 million project provides 154 guest rooms and 25,000 square feet of event space. The hotel features a pool, whirlpool, fitness center, business center and full-service restaurant.
HOUSTON — Birmingham, Ala.-based Equity Resources has acquired the 276-unit Waterstone Apartments, located in Houston just outside of The Woodlands. The property was built in 2012 and is currently in lease-up. The community's amenities include a resort-style saltwater pool with a sundeck, a fitness center, poolside gourmet grilling area, Wi-Fi computer lounge, clubhouse/entertainment area, garages and privacy gates.
LAPORTE — Overland Distribution has extended and expanded its lease for a total of 206,368 square feet of industrial space at Port Crossing Commerce Center, located at 1701 S. 16th St. in LaPorte. The property features 30-foot ceiling heights, 60 exterior docks, trailer storage and access to a rail transloading yard. Greg Egan of Leasesquarefeet.com represented the tenant in the lease transaction. Gary Mabray and Mike Taetz of Colliers International represented the landlord, a joint venture between National Property Holdings and ML Realty Partners.
HOUSTON — The Houston office of Q10 Kinghorn, Driver, Hough & Co. has arranged $9.45 million in permanent financing for six transactions with StanCorp Financial Group in the third quarter. Five of the properties are located in the Houston MSA and the last one is located in Smyrna, Ga. The properties include two shopping centers, two multifamily communities, a medical office building and a self-storage facility.
HOUSTON — HFF has secured a construction loan for the development of 2929 Weslayan, a 254-unit, high-rise multifamily development located on the northeast corner of Weslayan and West Alabama streets in Houston. The 40-story property includes 12,156 square feet of ground-floor retail space and a 547-space parking garage. The community will feature a fitness center, pool lounge, fire pit and an adjoining restaurant offering room service for residents. Whitaker Johnson, Rob Rizzi and Cameron Cureton of HFF arranged the loan through Pacific Life on behalf of the borrower, a partnership between PM Realty Group and the INDURE Fund, which is managed by National Real Estate Advisors.
TEXAS — Seavest Healthcare Properties has sold 14 medical office buildings in six states totaling 1.2 million square feet to Duke Realty for $332 million. The purchase price averages out to approximately $267 per square foot. The 14 properties included four from Texas, including the Longview Medical Office Building in Longview, Hillcrest Baptist Medical Center I & II in Waco and the Medical Mall of Abilene in Abilene. The properties, on average, are 90 percent leased and most are located on hospital campuses. Seavest sold the properties from its Seavest Properties I & II investment funds. Evercore Partners acted as sole advisor to Seavest.
AUSTIN — A joint venture between New York City-based Hudson Realty Capital and Pomeroy Investment Corp. has sold the 172,637-square-foot Capitol Tower office building, a Class A tower located in Austin, for $49 million. The 20-story office property is located at 206 E. Ninth St. in Austin's Central Business District and includes a 736-space on-site parking garage. The joint venture launched a comprehensive $10 million renovation program following its purchase in 2006. The property is fully leased to tenants including an advertising agency, legal firms, technology companies and marketing agencies.
LANCASTER — Prologis has signed a build-to-suit agreement for more than 1.2 million square feet of industrial space for a food and beverage company, located at Prologis Park 20/35 in Lancaster. At full build-out, Prologis Park 20/35 will include more than 3.1 million square feet. Construction of the facility is slated to begin in January 2013.
PLANO — Alliance Architects is leading the ongoing design efforts for the renovation and expansion of the existing Technology Services Data Center on behalf of the City of Plano. The facility is located adjacent to Plano's City Hall at 1117 E. 15th St. The new facility will provide technology, communication and data services to all Plano government services. The new project includes approximately 21,000 square feet of renovations, and the final project includes a Tier 3 data center, office support spaces, training areas, a receiving room, vehicle work areas, testing rooms and mechanical offices. Pacheco Koch Consulting Engineers and Brockette Davis Drake are providing engineering design services for the property. Turner Construction Co. is providing general construction services. The project is scheduled for a July 2013 completion.
LUBBOCK — Marcus & Millichap has arranged the sale of the 126-bed Whisperwood Nursing and Rehab Center, located at 5502 W. 4th St. in Lubbock. The property was listed for sale at $2.5 million. Rod Llanos and Doug O'Toole of Marcus & Millichap's Houston office represented the seller, a not-for-profit corporation, in the transaction. Llanos and O'Toole also represented the buyer, a limited liability company.
