AUSTIN, TEXAS — Bigcommerce, an e-commerce platform for small- and medium-sized businesses founded in Sydney, Australia, has signed a 33,000-square-foot office lease at 11305 Four Points Drive at FM 2222 and RM 620 in Austin. The company plans to move its 120 employees into the office space in April. Bigcommerce is working with lauckgroup, an architecture firm, and general contractor Balfour Beatty to renovate the office building, which is LEED Gold certified. The new office will feature indoor swings, an espresso bar, casual meeting spaces, a games room, built-in kegerators and two functional interior garage doors to expand meeting/office space. The Austin office is the company's North American headquarters.
DALLAS — Colliers International has won the exclusive marketing representation rights for the 300-acre Ridge Logistics Center, a 4.9 million-square-foot industrial park located in South Dallas. The owner, Chicago-based Ridge Property Trust, selected Colliers to market the distribution facilities and adjoining land parcels. The industrial park is located at Dallas Avenue and Telephone Road. Chris Teesdale, Tom Pearson and Ward Richmond of Colliers International's Supply Chain Real Estate Advisors in Dallas will lead all marketing efforts for the center.
San Antonio has been hard to ignore by national and international commercial and multifamily real estate investors on both the equity and debt side of capitalization. It has many of the positive ingredients that combine to score compelling marks in the various economic and investment models that are used to evaluate investment strategy. NorthMarq Capital works with national and international debt and equity real estate investors raising capital for commercial and multifamily properties every day in our role as an intermediary. Factors consistently standing out that make San Antonio attractive are its economic foundation based on financial services, healthcare, government and tourism and includes industries as diverse as medical, energy, biosciences, cyber security and aerospace. San Antonio is a top travel destination and has experienced very healthy population growth. It has an affordable and business friendly environment along with a unique geographic location and high quality of life. These factors translate into positive sustained demand for real estate. Several sources have given accolades validating the success the San Antonio economy in recent history. The Milken Institute named San Antonio as the No. 1 performing city in the country and emphasized the productivity and energy the city has had in recent …
AUSTIN, TEXAS — Austin-based Campus Advantage, a real estate firm offering management, acquisition and development services of student housing communities, has entered a $150 million joint venture with a major public pension plan. The pension firm provides investment services to benefit public employees and state and local governments. In the partnership, Campus Advantage will invest $150 million in student housing properties and will seek out investment opportunities for the pension plan. Campus Advantage currently manages more than 30,000 beds in 50 student housing properties in 20 states.
THE WOODLANDS, TEXAS — Realm Realty has purchased a 1.79-acre site for a Walgreens in the Village of Creekside Park in The Woodlands. The new store will be located at the corner of Kuykendahl Road and New Harmony Drive, near the new Creekside Park Village Center. Construction for the store will begin within the next six months. The store will include a drive-thru pharmacy. Realm Realty was self-represented in the land transaction by Thomas McAlister and David Stern. Todd Edmonds of Colliers International represented the seller, The Woodlands Development Co.
SAN ANTONIO — McCann Realty Partners has acquired the 324-unit View at Encino Commons Apartments in San Antonio. The garden-style community features a clubhouse, fitness center, resort-style swimming pool, attached garages and a movie theater. Pegasus Residential will manage the apartment community.
LEWISVILLE, TEXAS — Greenville, S.C.-based CapHarbor Property Management has awarded Cushman & Wakefield of Texas Inc. the leasing assignment for Vista Ridge I and II in Lewisville. Vista Ridge is a pair of two-story, 121,200-square-foot office buildings located at 700 and 750 State Highway 121 Bypass. The buildings are fully leased to long-term tenants including STA Travel and Parago Inc. Matt Schendle and Cynthia Cowen of Cushman & Wakefield will oversee leasing.
DALLAS — Richardson-based Hill & Wilkinson General Contractors has begun construction on a new 187,810-square-foot sales and service facility, located in the Mountain Creek Business Park in Dallas. The new building will sit on a 20-acre site and provide repair and maintenance services for diesel and natural gas engines and power generation equipment made by Cummins Inc. The tenant is Arlington-based Cummins Southern Plains LLC. The new facility will employ more than 150 people, mostly technicians, distribution associates and administrative personnel. Hill & Wilkinson is providing design/build services for the project and Dallas-based Merriman Associates/Architects Inc. is providing architectural services. The facility is slated for a December 2013 delivery. Additionally, the City of Dallas is providing a seven-year property tax abatement toward 50 percent of the improved value of the property.
CORPUS CHRISTI, TEXAS — McShane Development Co. has completed the 37,444-square-foot U.S. Department of Veterans Affairs Specialty Outpatient Clinic in Corpus Christi. The new facility is located at 205 S. Enterprize Parkway in the 100 South Padre Island Business Park. McShane provided the turnkey development, design and construction services for the build-to-suit medical facility. The clinic was designed to meet LEED Silver certification with an energy-efficient HVAC system, a reflective TPO roof and a glass curtainwall entryway. Cadence McShane Construction Co. and Rees Associates provided comprehensive design/build construction services.
GRAPEVINE, TEXAS — Carter Validus Mission Critical REIT Inc. has acquired a 61,400-square-foot, long-term acute-care hospital in Grapevine for $23 million. The facility includes 48 private medical rooms and a 12-bed Intensive Care Unit. The property is fully leased to Ethicus Hospital-Grapevine LP.