Texas

SKANSKA DELIVERS TEXAS A&M HUMANITIES BUILDING

by admin May 22, 2013

COLLEGE STATION, TEXAS — Skanska has completed construction of the Texas A&M University Liberal Arts and Humanities building, a 120,000-square-foot development that will serve as the permanent home for the school's English and Performing Arts departments. The university held a grand opening event for the five-story brick and limestone property. The building is located on the core of campus, next to the Melbern G. Glasscock building, which houses the History department. The structure features an open-air courtyard, new classrooms, a recording studio, black-box theater and outdoor courtyard with electrical capacity for outdoor performances. Skanska broke ground on the structure in 2010.

May 22, 2013

CONNOR GROUP SELLS PARK GATES AT CITY PLACE

by admin May 22, 2013

DALLAS — The Connor Group, a real estate investment firm, has sold the 228-unit Park Gates at City Place, a Dallas apartment community. The Connor Group owned and operated the community for six years. The Centerville, Ohio-based company expects to provide a 60 percent return to its investors. The Connor Group now owns and operates seven properties in Texas — four in Dallas and three in Austin.

May 22, 2013

Multifamily Texas

PANTHER FW INVESTMENTS BUYS MULTIFAMILY PORTFOLIO

by admin May 22, 2013

FORT WORTH, TEXAS — Fort Worth-based Panther FW Investments LLC has closed on its purchase of a two-property multifamily portfolio in Fort Worth totaling 528 units. The two properties include Bent Tree and Country Place, both located along Normandale Street on Fort Worth's west side. Panther plans to upgrade the exterior and interior of the communities in order to push rents upward.

May 22, 2013

Hospitality Texas

M&M BROKERS SALE OF COUNTRY INN & SUITES IN MIDLAND

by admin May 22, 2013

MIDLAND, TEXAS — Marcus & Millichap has arranged the sale of a Country Inn & Suites in Midland. The 66-room hotel is located at 920 W. Interstate 20. Jake Gaddy, Allan Miller and Chris Gomes of Marcus & Millichap's Austin, San Antonio and Dallas offices, respectively, represented the seller, a private investor, in the transaction. Gaddy and Miller also secured the buyer, an individual trust.

May 22, 2013

Office Texas

BOXER PROPERTY ACQUIRES HOUSTON OFFICE BUILDING

by admin May 22, 2013

HOUSTON — Houston-based Boxer Property has acquired Northwest Central Plaza, a 75,289-square-foot office building located at 5500 N.W. Central Drive in Houston. The two-story property is currently vacant. Boxer Property also owns the adjacent property, 5600 N.W. Central Drive.

May 22, 2013

Seniors Housing Texas

NEW SENIORS HOUSING EXPANSION TO OPEN IN KATY

by admin May 21, 2013

KATY, TEXAS — Dallas-based three: living architecture, a boutique design firm, has designed The Solana at Cinco Ranch, a 20,000-square-foot expansion to the existing seniors housing community in Katy, which three also designed. The expansion will feature 20 new memory care units and six additional assisted living units. Formation Development Group and its affiliates own the development, and The Arbor Co. manages it. The expansion is set to open in July.

May 21, 2013

Multifamily Texas

ARA BROKERS SALE OF AMBIANCE TOWNHOMES IN HOUSTON AREA

by admin May 21, 2013

ALIEF, TEXAS — ARA has arranged the sale of the 100-unit Ambiance Townhomes, located in Alief, a town southwest of Houston. Matt Saunders, Russell Jones and Zach Springer of ARA's Houston office represented the seller, Rich and Rich Associates, a private real estate investment group based in Philadelphia. The buyer, Washington-based Richmond Apartments LLC, plans to renovate and upgrade the property. The apartment community is 98 percent occupied.

May 21, 2013

Multifamily Texas

M&M ARRANGES SALE OF GRANBURY APARTMENT BUILDING

by admin May 21, 2013

GRANBURY, TEXAS — Marcus & Millichap has brokered the sale of Lakeshore at Granbury, a 41-unit apartment property located at 800 Panama Court near Highway 377 in Granbury. The community offers residents easy access to Lake Granbury with its private dock and private boat ramp. Robert Denninger of Marcus & Millichap's Dallas office represented the seller and procured the buyer, both limited liability companies, in the transaction.

May 21, 2013

Office Texas

TENASKA FINALIZES 32,102 SF OFFICE LEASE IN ARLINGTON

by admin May 21, 2013

ARLINGTON, TEXAS — Nebraska-based Tenaska Inc. has renewed its 32,102-square-foot lease at the Offices at Brookhollow in Arlington. The Offices at Brookhollow is an 80,104-square-foot office development at 1701 E. Lamar Blvd. Karen Simon and Brian Scott of Bradford Commercial Real Estate Services represented the landlord, 1031 Arlington LLC, in the five-year lease renewal. Renee Efimoff of SCM Real Estate Services Inc. represented the tenant.

May 21, 2013

Mixed-Use Texas

NEW WATERSIDE MASTER-PLANNED DEVELOPMENT COMING TO FORT WORTH

by admin May 20, 2013

FORT WORTH, TEXAS — Trademark Property Co., a real estate developer and investor based in Fort Worth, has plans to build Waterside, a new 63-acre master-planned development, in Fort Worth. The project will located on the Trinity River at Bryan Irvin Road and Arborlawn Drive. Waterside will be built as a walkable shopping, leisure, office, hotel and residential district. The development will include an extension of the Trinity Trails, an internal trail system, bridge, canoeing/kayaking, dog park, central plaza, riverfront amphitheater, 200,000 square feet of retail/restaurants, 20 to 30 acres of residential space, 100,000 to 200,000 square feet of office space and a signature hotel. Construction is slated to begin in spring 2014 and Phase I is slated for a spring 2015 opening. Trademark is under contract to purchase the land from the Lockheed Martin Recreation Association, a nonprofit corporation providing recreational facilities and activities for Lockheed Martin employees, retirees and dependents.

May 20, 2013

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