Texas

E.E. REED BREAKS GROUND ON PRIVATE JET CENTER

by admin February 1, 2013

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.

February 1, 2013

HYATT PLACE CORPUS CHRISTI NOW OPEN

by admin February 1, 2013

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.

February 1, 2013

Multifamily Texas

LYND ACQUIRES HOUSTON APARTMENT COMMUNITY

by admin February 1, 2013

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.

February 1, 2013

Multifamily Texas

M&M BROKERS SALE OF SMALL MULTIFAMILY PROPERTY IN TYLER

by admin February 1, 2013

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.

February 1, 2013

Multifamily Texas

ARA SECURES SALE OF WESTOVER HILLS IN SAN ANTONIO

by admin January 31, 2013

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.

January 31, 2013

Multifamily Texas

NEW MASTER-PLANNED COMMUNITY COMING TO AUSTIN AREA

by admin January 31, 2013

CEDAR PARK, TEXAS — Ryland Homes Austin plans to build its newest community, The Reserve at Twin Creeks, in Cedar Park, near Austin. The 760-acre, master-planned community will consist of 76 homes and 50 condominiums in three neighborhoods — The Crossings, The Bluffs and Sunset Ridge Condominiums. The development is adjacent to the Balcones Canyonlands Conservation Preserve. Resident amenities will include a private clubhouse with upscale dining, tennis courts, a recreation center, water park and two swimming pools.

January 31, 2013

Industrial Texas

LEVEY GROUP SIGNS TENANT TO 150,000 SF LEASE

by admin January 31, 2013

HOUSTON — Levey Group, an industrial development company, has executed a 150,000-square-foot office/warehouse lease with Crane Worldwide Logistics at 6501 Navigation in Houston. The 21.6-acre industrial complex is located east of downtown Houston near the ship channel. Jim Foreman and Beau Kaleel of Cushman & Wakefield represented Levey Group in the transaction. Ed Frantz and Kevin Kushner of CBRE represented Crane Worldwide Logistics.

January 31, 2013

Multifamily Texas

M&M ARRANGES SALE OF LAS BRISAS COMPLEX

by admin January 31, 2013

FORT WORTH, TEXAS — Marcus & Millichap has secured the sale of the 33-unit Las Brisas, an apartment complex located at 6414 Brentwood Stair Road in Fort Worth. The property was built in 1969 and underwent significant renovations in 1993. William Jarnagin, Michael Ware and Stephen Crittenden of Marcus & Millichap's Dallas office represented the seller, a private investor, in the transaction.

January 31, 2013

Office Texas

CBRE TO MARKET LANDMARK DOWNTOWN HOUSTON OFFICE BUILDING

by admin January 31, 2013

HOUSTON — CBRE has been retained to market 919 Milam, an historic 24-story office tower located in Houston's CBD. The office building spans 543,259 square feet and is 94 percent leased to energy-based tenants. The property is LEED Silver certified and is Energy Star rated. The office building is situated at the center of the downtown Houston pedestrian tunnel system, and it features four levels of parking, a food court, new tenant conference center, full-service banking and 24-hour security. The property has undergone $19.3 million worth of renovations since 2006, including more than $3.2 million invested by the current owner, Fort Worth-based M-M Properties. Jared Chua, Bernard Branca, John Alvarado, Russell Ingrum and Gary Carr of CBRE will market 919 Milam on behalf of the owner.

January 31, 2013

Civic Texas

SKANSKA BUILDING $23.8M FACILITY ON TEXAS A&M CAMPUS

by admin January 30, 2013

KILLEEN, TEXAS — Skanska has signed a contract with Texas A&M University-Central Texas to construct a $23.8 million, four-story facility on its new Killeen campus. The project is Phase II of the new master-planned campus, which will house the campus library, counseling center, career services, school of education, social work program, instructional technology, teachers' offices, classrooms and laboratory space. Good Fulton & Farrell Architects is the project's architect. Construction is under way on the building and its completion is expected in March 2014.

January 30, 2013

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