FLOWER MOUND, TEXAS — Exeter Property Group plans to build two new industrial buildings in Flower Mound's Lakeside Business District. The two buildings will total approximately 580,000 square feet. The development will bring an estimated 200 jobs to the area and add an estimated $18 million to Flower Mound's tax base. The property is located three miles north of Dallas Fort Worth International Airport.
BASTROP, TEXAS — CBRE has arranged the sale of St. David's Emergency Center-Bastrop, a 28,500-square-foot, freestanding emergency department in Bastrop. Austin-based Long View Equity Partners purchased the property, which is fully leased to St. David's HealthCare System. Scott Herbold, Chris Bodnar and Lee Asher of CBRE's U.S. Healthcare Capital Markets Group represented the seller in the transaction.
HOUSTON — Fredricks Commercial, a Houston-based commercial real estate firm, has merged with Moody Rambin Interests, a Houston-based commercial real estate brokerage and management firm. Brent Fredricks, a 27-year veteran of shopping center and investment brokerage, has joined Moody Rambin as senior vice president.
HOUSTON — Arch-Con Construction has begun construction on DCT Beltway Tanner Business Park in Houston. The 133,000-square-foot facility is located at 5980 W. Sam Houston Parkway. DCT Industrial Trust is developing the project and Long Beach, Calif.-based Carlile Coatsworth Architects is designing the property. The project is slated for a third quarter 2013 completion.
DALLAS — Dallas-based Tweaker Energy Drinks has purchased the former El Fenix headquarters, a 32,086-square-foot industrial property in Dallas. The manufacturing/distribution facility is located at 11075 Harry Hines. El Fenix previously used the location to make chips for all its restaurants. Mark Miller and Jim Svidron of NAI Roberty Lynn Industrial Division represented both the seller and Tweaker in the transaction.
DALLAS — Dallas-based Velocis Fund LP, a real estate investment fund, has closed Fund I, which raised more than $135 million. The total assets under management exceed $222 million. The current equity commitments give Fund I more than $330 million of purchasing power. Fund I is currently 40 percent invested and is sourcing new assets for purchase. Its targets include U.S. real estate assets in demand driven or supply constrained markets in the $10 million to $50 million range. Fund I's investors include high-net-worth individuals and large family offices in the U.S., Mexico and Europe. Velocis owns seven assets in Texas and one in Colorado, including two Houston office buildings, a medical office in Austin, two shopping centers in Austin, a medical office in Fort Worth, a shopping center in Fort Worth and an office building in Denver.
AUSTIN, TEXAS — Austin-based Endeavor Real Estate Group and Granite Properties plan to construct Champion Office Park, a 220,600-square-foot office campus in northwest Austin. The speculative office property will be located on the northwest corner of RM 2222 and Loop 360. The campus will include two four-story office buildings. San Antonio-based Overland Partners designed Champion Office Park, which is slated to open in September 2014. Travis Dunaway and Jonathan Tate of Endeavor will handle the property's leasing.
TULSA AND OKLAHOMA CITY, OKLA. — Stan Johnson Co. has secured the sale of two Garden Ridge stores in Oklahoma totaling $19.6 million. The properties are located at 11015 E. 51st St. S. in Tulsa and 701 S. Macarthur Blvd. in Oklahoma City. Ken Hedrick, Andrew Ragsdale and Jerry Hopkins of Stan Johnson Co. represented the seller, New York-based W.P. Carey Inc., in the transaction. The buyer was Arizona-based STORE Capital. Both properties have been fully leased by Garden Ridge Corp. since 1996. The two stores feature 11.5 years remaining of primary lease term, with four five-year renewal options.
FARMERS BRANCH, TEXAS — WRJ Distribution Way LLC has purchased 13911 Distribution Way, a 105,600-square-foot industrial building in Farmers Branch. Jean Russo of Cushman & Wakefield of Texas Inc. represented the seller, Shore Holdings Inc., in the transaction.
FORT WORTH, TEXAS — NorthMarq Capital has arranged $18.25 million in first mortgage refinancing for the 200,000-square-foot Chapel Hill Shopping Center, located at Interstate 30 and Hulen Street in Fort Worth. Chapel Hill's tenants include H-E-B Central Market, The Container Store and World Market. Phillip Bankhead of NorthMarq's Dallas office arranged the 10-year, interest-only loan through a CMBS lender.