STAFFORD, TEXAS — Dallas-based Main Event Entertainment has plans to open a new location at the Fountain on the Lake shopping center in Stafford. The new venue is located off U.S. Highway 59 and South Kirkwood Road and is expected to employ approximately 150 people. The new Main Event Entertainment location will feature a bowling alley, a GRAVITY indoor ropes course, laser tag, game room with 100 video games and meeting space.
CROSBY, TEXAS — Hunington Properties Inc. has arranged the sale of Crosby Plaza, a 8,133-square-foot retail property located on FM 2100 in Crosby. The center is fully leased to UPS Store, Little Caesar's Pizza and Cricket Wireless. Todd Carlson of Hunington Properties represented the seller, an out-of-state investor who purchased the property in 2006. The buyer is an investor based in Southern California. The buyer secured acquisition financing through Wilshire State Bank. Hunington will continue to operate the property.
GRAND PRAIRIE, TEXAS — Cushman & Wakefield has arranged the lease of 125,000 square feet of warehouse/distribution space at 2820 N. Great S.W. Parkway in Grand Prairie. The industrial space is located in the Paddock Distribution Center. Pete Richardson, Drew Richardson, Benedict Gordon, Bill McClung, Mike Wyatt, Robbie Baty and Grant Pruitt of Cushman & Wakefield of Texas Inc.'s Dallas office represented the tenant, Johns Manville, in the transaction. Johns Manville, a manufacturer and marketer of building products, will occupy approximately 1,000 square feet of office space in the property. Andrew McCaig and Cornelia Heins represented the landlord, Primera Cos., in-house.
GALVESTON, TEXAS — An 85-key Courtyard by Marriott hotel has opened on a 4.8-acre site along Galveston's Seawall Boulevard. The new hotel is the second Marriott affiliate to open in the area recently. An 88-key Marriott TownePlace Suites opened for business on March 12. Dallas-based Mayse & Associates, an architecture firm, designed the 64,028-square-foot Courtyard by Marriott hotel. The new hotel's outdoor amenities include a resort-style swimming pool, restrooms and a bar area. San Antonio-based Segment Construction Group was the construction management firm and Cameron-based EBCO General Contractor LTD constructed both hotels.
STEPHENVILLE, TEXAS — Kiewit Building Group plans to begin construction of the 32,000-square-foot O.A. Grant Humanities Building, located on the Tarleton State University campus, on April 1. The two-story building will feature offices, a writing center, digital media lab, media convergence center, meeting/conference rooms and outdoor amphitheater seating. Dallas-based Randall Scott Architects is the facility's project architect. Kiewit plans to wrap up construction on the facility at the end of May 2014.
LEWISVILLE, TEXAS — Marcus & Millichap has arranged the sale of the 212-unit Basswood Manor, a multifamily property located at 1020 W. Fox Ave. in Lewisville. More than 80 percent of the property includes two- and three-bedroom units. Al Silva of Marcus & Millichap's Fort Worth office represented the seller, a Dallas-based partnership, in the transaction. Silva also secured and represented the buyer, a private real estate fund based in Canada. The buyer plans to make capital improvements to the property.
AUSTIN, TEXAS — NorthMarq Capital has arranged a $9.96 million bridge loan for the acquisition of West Side Village, a 50,152-square-foot mixed-use property located at 1214 W. 6th St. in Austin. The retail and office property features tenants such as Julian Gold, Artworks Gallery and Infochimps. Paul Brighton of NorthMarq's Dallas office arranged the non-recourse, three-year loan for the borrower through a REIT. The borrower, a Dallas-based private investment company, plans to reposition the property during the bridge period.
HOUSTON — HomeWood at Zion, a 70-unit affordable housing, multifamily community, has opened in Houston. The $12 million multifamily community spans nearly 80,000 square feet. Re-Ward Third Ward, a local nonprofit community housing development organization, is sponsoring the new community. Integrated Real Estate Group, a real estate investment and development firm, is also sponsoring the new community. The City of Houston's Housing and Community Development Department provided $1.3 million and the National Equity Fund provided $8 million for the community's development. Other contributors include JPMorgan Chase, National Equity Fund, Midtown and Greater Zion Baptist Church.
HOUSTON — HFF has closed the sale and arranged acquisition financing for Galleria Plaza, a 428,285-square-foot mixed-use complex in Houston. The complex consists of TeleCheck Plaza, 5333 Westheimer, Sage Plaza, Michaelyndon's on the Boulevard and Region's Bank. Dan Miller and Martin Hogan of HFF represented the sellers, Chase Merritt and PCCP, in the transaction. The buyer is a joint venture between Songy HighRoads LLC and The Carlyle Group. Wally Reid led the HFF team who arranged a three-year, 75 percent loan-to-value acquisition loan on behalf of the buyer through Bank of America Merrill Lynch – CMBS.
MIDLAND, TEXAS — ARA has arranged the sale of The Lakes and Windscape Apartment Homes, two apartment communities located in Midland totaling 478 units. The apartment communities are 97 percent occupied. Bart Wickard and Brian O'Boyle Sr. of ARA's Dallas office represented the seller in the transaction. The buyers are affiliates of Stoneleigh Cos. LLC.
