COLLEGE STATION — Hunington Properties has brokered the sale of the 7,691-square-foot College Station Shopping Center, located on University Drive in College Station. The property is fully leased to national tenants including Papa John's Pizza and David's Bridal. Sandy Aron of Hunington Properties represented the seller in the transaction.
PLANO — Trammell Crow Co. and a subsidiary of One Liberty Properties has formed a joint venture to develop Legacy Towers, a proposed office property featuring two Class A office buildings totaling approximately 533,500 square feet, located at the southeast corner of the Dallas North Tollway and Legacy Drive in Legacy Business Park in Plano. Phase I is slated to be an approximately 341,000-square-foot, 13-story office building featuring a landscaped drive-up lobby and courtyard. Phase I will be designed to achieve LEED Gold certification. Phase II will be a 192,500-square-foot, 7-story office building. Construction of Phase I is slated to begin in 2013.
HOUSTON — Alliance Residential Co. has commenced construction on the 272-unit Broadstone Post Oak, a five-story luxury apartment community located in the Lakes of Post Oak development in Houston's Galleria submarket. The clubhouse and first units are expected to be be delivered in the second quarter of 2013, and completion is slated for the end of 2013. The property features 500 feet of private lake frontage. Amenities will include a business center, iCafe, resident lounge, climate-controlled corridors, two-story fitness center overlooking a lake and two courtyards.
FORT WORTH — Dallas-based Venture Commercial represented Hillwood Communities in the sale of 20 acres, located on North Tarrant Parkway between Ray White Boulevard and Highway 377 in north Fort Worth. The site will be the home of the 322-unit The Sovereign, a luxury apartment community. Atlanta-based Davis Development purchased the property and is anticipating breaking ground in late 2012. Ken Reimer and David Davidson of Venture represented the seller in the transaction.
AUSTIN — The Weitzman Group has arranged the sale/leaseback of the 9,280-square-foot 3011 North Lamar Boulevard, a multi-tenant office building just north of The University of Texas' campus in Austin. Brad Bailey of The Weitzman Group's Austin office represented the buyer, a local family partnership, in the transaction.
DALLAS — Walker & Dunlop has provided $6 million in financing for the 357-unit Villas at Montierra, an affordable housing property located in Dallas. Walker & Dunlop arranged the 10-year loan with a 30-year amortization schedule. The property was 88 percent leased and features a playground, laundry facilities, a courtyard, picnic area with barbecue grills, mail center, access gates and two swimming pools.
IRVING — HFF has secured $75 million in refinancing for the 506-room Westin DFW Airport, located at 4545 W. John Carpenter Fwy. in Irving, less than 2 miles away from the Dallas/Fort Worth International Airport. Mike Tepedino and Michael Gigliotti of HFF's New York City office and John Bourret of the firm's Dallas office arranged the financing through J.P. Morgan Chase Bank on behalf of the borrowers, Investcorp International and The Procaccianti Group. The hotel features 38,000 square feet of meeting space, a business center, restaurant with bar and lounge, a fitness center and a heated outdoor pool.
EDINBURG — Austin-based Cielo Realty Partners has purchased a 60,000-square-foot office building, located at 2800 W. Trenton in Edinburg. The building is currently more than 80 percent occupied, most of which is leased to publicly traded companies, in addition to one U.S. Representative. Other tenants include New York Life and Molina Health Care. Daniel Galvan of McAllen-based Coldwell Banker Commercial-La Mansion represented the seller in the transaction. The buyer was self-represented.
MCALLEN — Sam's Club has opened a new, 139,000-square-foot store, located in the Valencia Marketplace at 7601 N. 10th St. in McAllen. The new store is expected to hire approximately 178 employees.
DALLAS — Englewood Cliffs, N.J.-based Deerwood Real Estate Capital has secured a $6.3 million loan for a 300-unit multifamily property, located in Dallas. David Rosenberg and Mark Silbersher of Deerwood arranged the 10-year loan with a 30-year amortization schedule.