AUSTIN, TEXAS — Alliant Capital has closed a $6.65 million refinance loan on the 65-unit Park Terrace Apartments in Austin. Mary Dee Clancy of Alliant's Chevy Chase, Md., office originated the seven-year loan on a 30-year amortization schedule.
SUGAR LAND, TEXAS — Fiesta Mart Inc. has leased 40,324 square feet of retail space at the Sugar Creek Village Shopping Center, located at 13833 SW Freeway in Sugar Land. Buster Freedman of United Equities Inc. represented the landlord in the transaction.
MCKINNEY, TEXAS — Playtri has signed a 10,908-square-foot lease at Times Square at Craig Ranch, a shopping center located at 7951 Collin McKinney Parkway in McKinney. When Playtri opens the store in May, it will be the largest triathlon store in the U.S. The store will feature bikes, apparel, onsite coaches and sports nutritionists, training sessions and various fitness testing at the store's Performance Center. Playtri is an official USA Triathlon Certified Performance Center. Ward Richmond, Chris Teesdale and Tom Pearson of Colliers International's Supply Chain Real Estate Advisors in Dallas represented the tenant in the lease transaction. Bry Taylor of Bryson Messer Properties LLC represented the landlord, Mid-America Apartments LP.
The commercial real estate market for the Rio Grande Valley region, located in south Texas along the U.S.-Mexico border, has remained stable over the last couple of years. During the last half of 2012, there has been a general mood of optimism about 2013. The U.S. economic crisis did play some havoc in the region and many projects lost some momentum. However, the region managed to dodge the bulk of the effects, as some noted projects and acquisitions did come to fruition, including CVS/pharmacy store openings. The company has plans to open 25 stores in this market. H-E-B Grocery opened a new H-E-B Plus concept in Pharr and remodeled and expanded one of its Brownsville stores. The grocery chain is planning another store opening in Palmhust, north of Mission, this year. Other national retailers entering the market include Bass Pro Shop, Sam’s Club, Costco, LongHorn Steakhouse, Party Cityand Cinemark. The City of Pharrsaw the first Costcoin the market while McAllen added its second Sam’s Club. LongHorn Steakhouse is on a fast track and within 24 months will have opened five locations in the region. Additionally, Cinemark will be adding two theaters, including a state-of-the-art movie houseat the El Centro Mall …
COPPELL, HASLET AND SCHERTZ, TEXAS — Amazon plans to open three new fulfillment centers in Coppell, Haslet and Schertz that will create more than 1,000 jobs. The 1.2 million-square-foot center in Schertz and the 1 million-square-foot center in Coppell will handle larger items, such as televisions and grills. The 1.1 million-square-foot site in Haslet will handle smaller items, such as books, electronics and DVDs. USAA Real Estate Co. is building the Schertz fulfillment center, and Hillwood Development Co. is building the Haslet fulfillment center as part of AllianceTexas, a 17,000-acre master-planned community. Hillwood is also building the Coppell center.
CONROE, TEXAS — E.E. Reed has begun construction on the BFV Jet Center, located in the Lonestar Executive Airport in Conroe, on behalf of Black Forest Ventures (BFV), an asset management firm based in The Woodlands specializing in commercial real estate and aviation. The new facility will feature a 60,000-square-foot, three-story office building; two 50,000-square-foot airplane hangars; and an arrivals lounge. The office building will include conference rooms, meeting rooms, a lounge/bar area, crew preparation areas, a galley and a Black Walnut Restaurant on the third floor. The facility will also feature a 17,000-square-foot jet canopy for passenger boarding and departure.
CORPUS CHRISTI, TEXAS — The 103-room Hyatt Place Corpus Christi, located in the heart of Corpus Christi, has opened. The hotel is the first Hyatt Place hotel in the area. The hotel features 42-inch HDTVs in every room, free Wi-Fi, complimentary breakfast, 1,200 square feet of meeting space, a room service kitchen, an Intimate Bakery Cafe serving Starbucks coffee and beer, fitness center and an indoor pool.
HOUSTON — Lynd Residential Properties has purchased the 438-unit Limestone apartment complex, located at 14723 W. Oaks Plaza St. in the Briar Forest-Ashwood submarket of Houston. Lynd financed the transaction through Fannie Mae and also prepaid a CMBS loan that was due to mature in late 2013.The property was built in 1999 and sits on 26 acres of land. The acquisition is part of Lynd's value-add investment strategy to purchase well-located properties near job growth hubs.
TYLER, TEXAS — Marcus & Millichap has arranged the sale of the nine-unit Creekside Circle Townhomes, located at 5980 Creekside Circle in Tyler. The property is located adjacent to Hollytree Country Club and is fully occupied. Boyan Radic and Mason Green of Marcus & Millichap's Fort Worth office represented the seller, a private investor, in the transaction. Drew Wetherholt of Marcus & Millichap's Ontario office represented the buyer, also a private investor.
SAN ANTONIO — ARA has arranged the sale of the 256-unit Westover Hills apartment community, located at 7727 Potranco Road in San Antonio. Resident amenities of the community include a resort-style swimming pool, fountain, outdoor fireplace, BBQ grilling, cabana, outdoor TV and landscaping. The community is 92 percent occupied. Patton Jones of ARA's Austin office, along with Casey Fry of the firm's San Antonio office, represented the seller, Austin-based Teeple Partners, in the transaction. Canada-based Venterra Realty was the buyer.