DALLAS — Billingsley Co. has begun construction of the new 300,000-square-foot Bush Beltline Distribution Center, located at the intersection of Belt Line Road and George Bush Turnpike 190 in Dallas. The distribution center will include 32-foot clear heights, cross docks and 135-foot truck courts. The building was 86 percent leased before the ground breaking. Mattress Firm has secured a lease for 153,000 square feet in the center. The landlord, Billingsley Co., was self-represented by Marijke Lantz and Carter Crow. Damian Rivera and Graham Horton of Stream Realty Partners represented Mattress Firm. The property is slated for a July 2013 completion.
DALLAS — Hammond Hanlon Camp LLC, a healthcare investment banking firm, has advised SRP Medical and Forest Park Medical Center on the $26.75 million sale of Forest Park Pavilion, a 69,000-square-foot medical office building in Dallas. Healthcare Trust of America, a publicly traded REIT, has purchased the property, which is fully leased to Forest Park Medical Center and third-party physicians. Forest Park Pavilion is part of the Forest Park Medical Center campus.
KYLE, TEXAS — Block Funds has acquired The Settlement, a 396-unit luxury multifamily community located in Kyle, which is just south of Austin. The property was delivered in January 2012. Block Multifamily Group, a division of Block Real Estate Services, will manage the property.
GARLAND, TEXAS — Westmount Realty Capital has purchased a 341,840-square-foot manufacturing distribution facility in Garland. The distribution facility is fully leased to Apex Tool Group, which recently signed a new 20-year net lease. Apex Tool Group builds hand, power and electric tools, most notably the Sears Craftman brand. Other brands include Crescent, Armstrong, Allen and Kobalt. Apex is owned by a joint venture between Danaher Corp. and Cooper Industries. Westmount will invest approximately $1.5 million in interior and exterior building improvements, including new finishes throughout. Lee and Associates represented the seller in the transaction. Additionally, NorthMarq Capital arranged acquisition financing.
AUSTIN, TEXAS — ARA has secured the sale of the 309-unit Avanti Hills, an apartment community formerly known as Alexan Galleria, located at 12601 Bee Cave Parkway in Austin. The property is 96 percent occupied and features two resort-style swimming pools, remote-control limited entry gates, a fitness center and landscaping. Patton Jones of ARA's Austin office represented the seller, an undisclosed Fortune 500 bank, in the transaction. The buyer was an undisclosed private investor based in Austin.
DALLAS — Red River Asset Management has purchased the four-story, 239,000-square-foot 12404 Park Central, an office building located in Dallas. Red River purchased the property from Oaktree Capital, and is set to secure a seven-year lease extension with its largest tenant, MEplusYOU. John Beach of Jackson Cooksey represented the tenant in the lease transaction. Red River is partnering with Merriman Associates/Architects to update the building's lobby finishes, 3,000-gallon fresh water aquarium, multiple water features and living plant walls. John Alvarado of Jones Lang LaSalle, now with CBRE, represented the seller in the transaction. Lincoln Property will manage the building and Grant Sumner of Peloton will retain leasing services. Gabriel Silverstein and Louis D'Lando of New York City-based Angelic Real Estate arranged the loan through Texas-based American National Insurance Co., as well as provided acquisition services to Red River.
DENTON, TEXAS — Cadence McShane Construction Co. has been selected to renovate and construct the final phases of the approximately 765,000-square-foot Golden Triangle Mall, located at Interstate 35 East and Loop 288 in Denton. The new construction includes renovating the food court, renovations to retail spaces and modifications to the mall's entrance and parking lots. The community's anchors include Dillard's, Macy's, JC Penney and Sears. GTM Development Ltd. is the owner of the mall, which features more than 70 retailers. C.M. Architecture is providing design services for Phase II and Brockette/Davis/Drake Inc. is providing civil engineering services for Phase III. Cadence McShane will conduct most of the construction work after the close of business hours.
ODESSA, TEXAS — Tremont Realty Capital has arranged $2.3 million in acquisition financing for Vista West, a 184-space manufactured home community in Odessa. Tom Lorenzini of Tremont's Chicago office arranged the 10-year, non-recourse loan through a CMBS lender. The property is 95 percent occupied and includes amenities such as a central office, clubhouse, swimming pool, tennis court and playground.
NORTH RICHLAND HILLS, TEXAS — Silver Oak Commercial Realty has brokered the sale of a 4,067-square-foot office building, located at 8625 Mid-Cities Blvd. in North Richland Hills. Russ Webb of Silver Oak represented the seller, Compass Realty LP, in the transaction. Moore Matthews of KW Commercial represented the buyer, Campo San Antonio Partnership.
HOUSTON — Trammell Crow Co., in a joint venture with Principal Real Estate Investors (PREI), plans to develop the 456,000-square-foot Noble Energy Center Two, a 20-story office building that will serve as the headquarters for Noble Energy, in Houston's Northwest submarket. The property features an eight-story parking garage as well. Trammell Crow and PREI purchased the adjacent Noble Energy Center One and an adjacent land parcel for the development of Noble Energy Center Two in May 2011. The two properties will be connected via an elevated sky bridge. Construction is set to begin this summer with an expected completion in mid-2015. The development team, including Kirksey Architects, is aiming to achieve LEED Silver certification. Jim Arket and Mona Williams of James Arket and Co. represented Noble Energy in the lease transaction for the build-to-suit property. Aaron Thielhorn, Kevin Schmok and Brandon Houston of Trammel Crow, along with Joe Wanninger of PREI, will lead the development team.