HOUSTON — Liberty Property Trust has commenced the development of Central Green 11, a 181,000-square-foot industrial property, located at 16200 Central Green Blvd. in the Central Green Business Park in the north Houston submarket. The build-to-suit project is leased to GAC Energy & Marine Services LLC. The development team for the project includes Ken Chang of Liberty Trust; Seeberger Architect; Getz & Associates; and Cadence McShane. The development team is designing the facility to achieve LEED certification. Bob Bandos, CEO of GAC Energy & Marine Services, along with Derrick Jones, represented the buyer in the transaction.
HOUSTON — McShane Healthcare Solutions has completed a new 35,240-square-foot sports medicine and athletic facility, located within the Houston Amateur Sports Park at 12211 Kirby Drive in Houston. The owner, Competitive Edge Sports (CES) Performance, occupies an 18,505-square-foot custom, high-bay space within the new complex. The Methodist Center for Sports Medicine, the official healthcare provider of the Houston Texans, Astros, Dynamo, Rice Athletics, Houston Rodeo, Houston Symphony, Houston Ballet and the Houston Grand Opera, occupies 7,000 square feet in the complex. The single-story facility will also serve as the permanent training center of the Dynamo soccer team, with the team occupying 5,125 square feet of space. Cadence McShane Construction Co. provided the design/build construction services, and Houston-based Seeberger Architecture will provide architectural services.
MCALLEN AND WESLACO, TEXAS — The Chicago office of Tremont Realty Capital has arranged two loans totaling $11.1 million for four manufactured home and RV communities in McAllen and Weslaco, Texas. The communities include The Homestead and Homestead Ranch in McAllen and Leisure World & Trails End in Weslaco. Tom Lorenzini of Tremont arranged the 10-year loans to both amortize during the next 30 years through a CMBS lender.
AUSTIN, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has secured a $10.6 million refinance for a self-storage facility in Austin. Michael Laurencelle of MMCC's Austin office arranged the 10-year loan to amortize over 30 years through a CMBS lender.
KATY, TEXAS — Global Growth Trust, in a joint venture arrangement with Trinsic Residential Group, has plans to develop a $32 million, Class A apartment community in Katy known as Aura Grand Corners. The garden-style property will feature 291 units and will be part of the Grand Lakes master-planned community. The property will feature a clubhouse, business center, fitness center, dog park, resort-style swimming pool and garages. Dallas-based Trinsic will serve as the project's general contractor and developer. This is the second joint venture project between Global Growth and Trinsic. Last month, the joint venture announced the development of the $34.9 million Aura Castle Hills near Dallas.
AUSTIN, TEXAS — Preferred Apartment Communities (PAC) has purchased the 192-unit McNeil Ranch in Austin for approximately $21 million. The apartment community is currently 97.4 percent occupied. PAC expects to refinance the existing first mortgage debt on McNeil Ranch with a portion of the net proceeds from its recently completed private placement and a $13.6 million loan originated by Jones Lang LaSalle Operations. PAC has also recently purchased the 408-unit Ashford Park in Atlanta and the 328-unit Lake Cameron in Raleigh, N.C.
DALLAS — Dallas-based Hillwood Investment Properties, a Perot company, has formed a partnership with Brookfield Asset Management and the Hillwood-Brookfield Industrial Partners fund to purchase eight properties in five U.S. markets. The properties include three buildings totaling 750,000 square feet in the Chicago area; one building totaling 668,000 square feet in the Far South Counties submarket of Indianapolis; one building totaling 556,000 square feet in Desoto County; one building totaling 403,000 square feet in Atlanta's Airport/South submarket; and two buildings totaling 256,000, located in the Southwest Orange submarket of Orlando.
SAN ANTONIO — Construction is nearly under way on the new 150,000-square-foot Forest Park Medical Center, located at 5510 Presidio Parkway in northwest San Antonio. The full-service hospital will feature 54 beds, 12 operating rooms, two procedure rooms, diagnostic imaging suites, a laboratory, pharmacy and cafeteria. The hospital is slated for a second half 2014 delivery. The project team for the hospital includes BOKA Powell (design architect), Neal Richards Group (owner/developer), Rogers-O'Brien (general contractor) and Vibrant Healthcare (operator).
KATY, TEXAS — The U.S. Department of Veterans Affairs is opening the new 30,000-square-foot Katy VA Outpatient Clinic, located at 750 Westgreen Blvd. in Katy, this summer. The facility will provide primary healthcare, mental healthcare, women's specialty care, X-rays, telemedicine, teleretinal imaging, pharmacy, optometry and audiology services. The property will be 40 percent leased to the VA, and the facility is only the second VA location in the Houston area. J. Beard Real Estate Co. will serve as the leasing agent for the medical center.
AUSTIN, TEXAS — The Weitzman Group has arranged the sale of the 39,739-square-foot Highland Commons, a shopping center located at the northeast corner of Airport Boulevard and Koenig Lane in Austin. The shopping center includes a 27,096-square-foot Spec's Wine, Spirits & Finer Foods as the anchor, along with Kick Butt Coffee, Eyemart Express, Highland Donuts, Whitehead Chiropractic and Y2K Nails. Brad Bailey of The Weitzman Group represented the seller, Westwood Financial Corp., in the transaction. Ben White of Durham & Bassett represented the buyer, a private investor from Houston.