Texas

HFF ARRANGES LOAN FOR HIGH-RISE DEVELOPMENT

by admin November 15, 2012

HOUSTON — HFF has secured a construction loan for the development of 2929 Weslayan, a 254-unit, high-rise multifamily development located on the northeast corner of Weslayan and West Alabama streets in Houston. The 40-story property includes 12,156 square feet of ground-floor retail space and a 547-space parking garage. The community will feature a fitness center, pool lounge, fire pit and an adjoining restaurant offering room service for residents. Whitaker Johnson, Rob Rizzi and Cameron Cureton of HFF arranged the loan through Pacific Life on behalf of the borrower, a partnership between PM Realty Group and the INDURE Fund, which is managed by National Real Estate Advisors.

November 15, 2012

TEXAS PROPERTIES PART OF $332M HEALTHCARE PORTFOLIO SALE

by admin November 14, 2012

TEXAS — Seavest Healthcare Properties has sold 14 medical office buildings in six states totaling 1.2 million square feet to Duke Realty for $332 million. The purchase price averages out to approximately $267 per square foot. The 14 properties included four from Texas, including the Longview Medical Office Building in Longview, Hillcrest Baptist Medical Center I & II in Waco and the Medical Mall of Abilene in Abilene. The properties, on average, are 90 percent leased and most are located on hospital campuses. Seavest sold the properties from its Seavest Properties I & II investment funds. Evercore Partners acted as sole advisor to Seavest.

November 14, 2012

Office Texas

JV SELLS CAPITOL TOWER BUILDING FOR $49M

by admin November 14, 2012

AUSTIN — A joint venture between New York City-based Hudson Realty Capital and Pomeroy Investment Corp. has sold the 172,637-square-foot Capitol Tower office building, a Class A tower located in Austin, for $49 million. The 20-story office property is located at 206 E. Ninth St. in Austin's Central Business District and includes a 736-space on-site parking garage. The joint venture launched a comprehensive $10 million renovation program following its purchase in 2006. The property is fully leased to tenants including an advertising agency, legal firms, technology companies and marketing agencies.

November 14, 2012

Industrial Texas

PROLOGIS SIGNS 1.2M SF BUILD-TO-SUIT AGREEMENT

by admin November 14, 2012

LANCASTER — Prologis has signed a build-to-suit agreement for more than 1.2 million square feet of industrial space for a food and beverage company, located at Prologis Park 20/35 in Lancaster. At full build-out, Prologis Park 20/35 will include more than 3.1 million square feet. Construction of the facility is slated to begin in January 2013.

November 14, 2012

Texas

ALLIANCE CONTINUES DESIGN OF PLANO DATA CENTER

by admin November 14, 2012

PLANO — Alliance Architects is leading the ongoing design efforts for the renovation and expansion of the existing Technology Services Data Center on behalf of the City of Plano. The facility is located adjacent to Plano's City Hall at 1117 E. 15th St. The new facility will provide technology, communication and data services to all Plano government services. The new project includes approximately 21,000 square feet of renovations, and the final project includes a Tier 3 data center, office support spaces, training areas, a receiving room, vehicle work areas, testing rooms and mechanical offices. Pacheco Koch Consulting Engineers and Brockette Davis Drake are providing engineering design services for the property. Turner Construction Co. is providing general construction services. The project is scheduled for a July 2013 completion.

November 14, 2012

Seniors Housing Texas

M&M BROKERS SALE OF SENIORS HOUSING PROPERTY IN LUBBOCK

by admin November 14, 2012

LUBBOCK — Marcus & Millichap has arranged the sale of the 126-bed Whisperwood Nursing and Rehab Center, located at 5502 W. 4th St. in Lubbock. The property was listed for sale at $2.5 million. Rod Llanos and Doug O'Toole of Marcus & Millichap's Houston office represented the seller, a not-for-profit corporation, in the transaction. Llanos and O'Toole also represented the buyer, a limited liability company.

November 14, 2012

Retail Texas

UCR BROKERS $33.6M SALE OF FOUR RETAIL PROPERTIES

by admin November 13, 2012

DALLAS — Dallas-based UCR Investment Sales has closed on the $33.6 million sale of four shopping centers located in the Dallas/Fort Worth area totaling 223,749 square feet. The properties include the 59,986-square-foot South Towne Crossing in Burleson, the 29,897-square-foot Lake Forest Crossing in McKinney, the 42,700-square-foot McDermott Towne Crossing in Allen and the 91,116-square-foot Beach Western Commons in Fort Worth. UCR represented the Retail Properties of America, the seller, in the South Towne, Lake Forest and McDermott Towne transactions. UCR also represented CNA Enterprises, the seller, in the Beach Western Commons transaction.

November 13, 2012

Civic Texas

GLADSTONE BUYS RECORDS CENTER IN FORT WORTH FOR $20M

by admin November 13, 2012

FORT WORTH — Gladstone Commercial Corp. has purchased the National Archives and Records Administration's 208,234-square-foot Southwest Region Records Center in Fort Worth for $20 million. The mission-critical property includes office and research space, as well as archival storage space. The long-term lease is fully guaranteed by the U.S. Government.

November 13, 2012

Office Texas

HFF ARRANGES ACQUISITION FINANCING FOR OFFICE PROPERTY

by admin November 13, 2012

SAN ANTONIO — HFF has secured acquisition financing for Network Crossing, a five-building, 143,831-square-foot office property located at 5252 Prue Road in San Antonio. The property is 89 percent leased. Mona Carlton and Robert Wooten of HFF arranged the 10-year loan through Northwestern Mutual on behalf of the borrower, Live Oak-Gottesman Co.

November 13, 2012

Retail Texas

NORTHMARQ SECURES $1.4M LOAN FOR RETAIL PROPERTY

by admin November 13, 2012

GARLAND — NorthMarq Capital has arranged $1.4 million in first mortgage refinancing for the 32,000-square-foot Belt Line Retail, a shopping center located at 1225 Belt Line Road in Garland. Bart Dickinson of NorthMarq arranged the 25-year loan with a 25-year amortization schedule through a life insurance company lender.

November 13, 2012

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