THE WOODLANDS — The Howard Hughes Corp. has partnered with Huntsman Corp. to complete a feasibility study for expanding the Huntsman facility, located in the Research Forest area of The Woodlands. The plans show an increase in the research and development capacity as well as a new five-story, 236,000-square-foot office building with an attached 900-space parking garage. The companies are exploring the opportunity to construct three new Class A office buildings and an adjacent parking garage.
AUSTIN — Dallas-based CMC Commercial Realty Group has commenced construction on the 308-unit Ladera Hill Country Apartments, a Class A multifamily property located along Interstate 35 between William Cannon Drive and Slaughter Lane in Austin. Greystar will manage the property. The apartments will include stainless steel appliances, enhanced lighting and granite countertops. Amenities will include a resort-style pool, fitness center, yoga studio, dog park and private garages.
AUSTIN — Austin-based KW Commercial has arranged the sale of a 9,750-square-foot retail and medical center, located at 12400 N. Interstate 35 in Austin. The tenants include Einstein Bagels, JuiceSpot, Austin Orthodontic and TechRidgeDental. Nick Nelson and Jim Young of KW Commercial represented the buyer, an out-of-state investor, in the transaction. Greg Porter of Austin-based MP Commercial Partners represented the seller.
DALLAS — Sonnenblick-Eichner Co. has secured $17.5 million in first mortgage financing for the 300-room DoubleTree by Hilton Hotel Dallas-Campbell Centre, located in Campbell Centre just north of downtown Dallas. Campbell Centre is a mixed-use property that contains the hotel and two 21-story office buildings, totaling approximately 875,000 square feet. The 21-story hotel features 14,966 square feet of meeting space. Sonnenblick-Eichner arranged the 5-year, non-recourse loan through a private real estate debt fund.
MUSTANG, OKLA. — Kennedy Funding has completed the $3.47 million note purchase of a non-performing loan for the 88,999-square-foot Silver City Town Center, a retail center located in Mustang. The loan purchaser was a limited liability company, and the loan borrower was Silver City Town Center LLC. Under the terms of the agreement, the borrower can repurchase the loan. The retail center is 55 percent leased to tenants including Tractor Supply Co., Salvation Army, The Vine and Urgent Care. Taco Bell and KFC are leasing outparcels.
HOUSTON — Crowne Plaza Houston Downtown Hotel, located in Houston, has finished its 259-unit renovations. The updates include new carpeting, wall vinyl, window treatments, lighting fixtures, seating, upgraded cable and wireless Internet access. Chesapeake Hospitality manages the hotel, which features a 24-hour fitness center, an outdoor swimming pool, 12,000 square feet of event space and the Brazos Restaurant & Lounge.
SAN ANTONIO — Seldin Co. and World Group Commercial Real Estate, both based in Omaha, Neb., have facilitated the purchase of the 280-unit Villas of Oak Creste and the 262-unit Songbird, two Class B multifamily properties located in San Antonio. Villas of Oak Creste is located at 5315 Fredericksburg Rd. and Songbird is located at 7667 Callaghan Rd. Seldin Co. has assumed managing and leasing responsibilities.
SPRING — The Woodlands-based The J. Beard Real Estate Company has brokered the sale of Phase II and III of the 40,372-square-foot Spring Hill Executive Office Suites, located at 500 and 504 Spring Hill Dr. in Spring. The property is fully leased. Josh Feinberg of J. Beard represented the buyers, The Woodlands-based Mercan and a private family partnership, in the transaction. Jeff Beard of J. Beard represented the seller.
DALLAS — Fullerton, Calif.-based Eleganza Tiles has leased 60,092 square feet of showroom and office space at Tile Mile Park, located in the Dallas Corporate Center Building 1 at 2230 LBJ Freeway in Dallas. The company relocated from 11639 Emerald St. in Dallas, less than a half mile away from its new headquarters. The new lease expands the company's footprint by 20,000 square feet. Kevin Santaularia and Joe Santaularia of Dallas-based Bradford Commercial Real Estate Services represented the tenant in the transaction. The landlord, ProLogis, was self-represented by Mitch Pruitt.
ODESSA — The 68-acre Parks Legado Town Center, an approximately 300,000-square-foot, mixed-use center under construction along State Highway 191 in Odessa, will add a 120-room Residence Inn by Marriott and a branch of Aim Bank. The Sewell Family of Cos. will finish the first phase of the development in the fall, which will include shops, restaurants, offices, hotels and new car dealerships. Dallas-based Don Epperson is developing the property. Dallas-based Western International is developing the Residence Inn and Texas Western Hospitality will manage the hotel, which is slated to open in spring 2013. Levelland-based AIMBancshares owns the new branch of Aim Bank, which will feature five drive-thru lanes.