SOUTHLAKE — Dallas-based Bradford Commercial Real Estate Services has arranged a 94,993-square-foot, full-building lease in Heritage Business Park Building 1, located at 1100 Kimball Ave. in Southlake. Michael Spain of Bradford Commercial represented the landlord, Hawaii-based A&B Properties, in the lease transaction. Reggie Beavan of Jackson & Cooksey represented the tenant, Specialized Products Co.
COLLEGE STATION — Ascension Group Architects has completed a $20.5 million expansion and renovation of College Station Medical Center, located in College Station. The project included relocating the hospital's laboratory services; the addition of two operating rooms and storage space; the addition of more than 30,000 square feet of vertical space to the hospital's tower; the conversion of 13 private rooms in the neonatal intensive care unit; the addition of four labor, delivery and recovery rooms; the addition of four antepartum rooms; and the 5,000-square-foot expansion and renovation of the emergency department. Utah-based Layton Construction was the general contractor for the project.
PHARR — Plano-based Cinemark Holdings has plans to open a 16-screen, all-digital Cinemark NextGen movie theatre, which will be located in Phase I of Pharr Town Center's renovation and expansion at North Jackson Road and U.S. 83 Expressway in Pharr. The theater is slated to open in 2013.
DALLAS — CASE Commercial Real Estate Partners has brokered four separate lease transactions totaling more than 139,000 square feet at the 838,000-square-foot The Centre Office Park, an 11-building master-planned office complex located at the southwest quadrant of Midway and Alpha roads in Dallas. Buddy Tompkins and Seth Thatcher of CASE's Dallas office represented the landlord, Daltex Centre, in all four lease transactions. Scott Bazoian of Cassidy Turley's St. Louis office and Craig Wilson of the firm's Dallas office represented Centene Corp. in its 62,674-square-foot lease; Todd Noonan of Stream Realty Partners' Dallas office represented TexasLending.com in its 67,390-square-foot lease; Nick Lee of Dallas-based NAI Robert Lynn represented VSSI in its 7,210-square-foot lease renewal/expansion; and Symphonic Source was self-represented by Ken Barth in its 1,918-square-foot lease.
The Austin multifamily market is extremely strong overall, with the most robust submarkets found in the Central Business District, South Central and Southwest submarkets. Due to the number of previously shelved projects coming back online, potential deliveries in 2012 will likely be around 3,500 units, followed by another 5,500 units or so in 2013. However, there are no major projects scheduled to be completed in 2012 that will have a drastic effect on the market — most of the starts that have taken place will not come on line until the first part of 2013. As a result, the upward push on occupancy and rental rates seen during 2011 will continue throughout 2012 — until the market sees some of these new projects coming online, owners of Austin multifamily properties will continue to be aggressive on rents and not offer concessions. One of the leading factors supporting this focused rise in apartment revenues is Austin’s ranking as one of the top growth markets for jobs. In particular, the CBD and South Central areas have seen an influx of new companies that want to be located in the middle of the action — and, thanks to the employees brought to the …
ROSENBERG — Grubb & Ellis has brokered the sale of the 145,591-square-foot 235 Benton, an industrial property consisting of eight buildings and 35 acres of land located in Rosenberg. Beth Young, Henry Hagendorf and Frank Onorato of Grubb & Ellis' Houston office represented the seller in the transaction. The buyer was a private investor.
HOUSTON — Marcus & Millichap has arranged the sale of the 36,000-square-foot Gardendale Warehouses, an industrial property located at 5707 Gardendale Drive in Houston. Andrew Jewett of Marcus & Millichap's Houston office represented the seller, a Texas partnership, in the transaction and secured the buyer, a private investor.
SAN ANTONIO — 4M Realty has arranged a 1031 tax exchange for the sale of the 12,421-square-foot Castle Hills Crossroads, a retail center located at 2277 NW Military Hwy. in San Antonio. Sandi Leone of San Antonio-based 4M Realty represented the seller in the transaction. David Ballard of San Antonio-based Reata Real Estate represented the buyer, KFM Partners.
GRAYSON COUNTY — Henry S. Miller Brokerage has negotiated the sale of 80.64 acres of land, located in the northwest quadrant of Plainview Lane and Texas State Highway 289 in Grayson County. Ray Utley and Grant Brodeur of Henry S. Miller's Dallas/Fort Worth office represented the seller, a Sherman native, in the transaction. The buyer was a north Texas-based investor.
TROPHY CLUB — NorthMarq Capital has secured $9.7 million in financing for the 106,507-square-foot Trophy Club Plaza, a grocery-anchored shopping center located at 101 Trophy Lake Dr. in Trophy Club. A 63,654-square-foot Tom Thumb grocery store anchors the center, which includes tenants such as Starbucks, Verizon Wireless, Subway and Great Clips. John Stewart and Brock Yaffe of NorthMarq's Denver office arranged the financing on behalf of the California-based borrower.