Texas

NEW WALGREENS COMING TO HOUSTON

by admin March 22, 2012

HOUSTON — Rankin NDG Houston LLC has purchased 73,740 square feet of land, located at the southeast corner of Rankin Road and Kuykendahl Road in Houston, for the construction of a 14,820-square-foot Walgreens. Levinson Alcoser Associates is providing architectural services for the project and Sundance Construction Co. is the general contractor. David Boniuk of Houston-based Mila Properties represented the seller, Boniuk Interests, in the transaction. Mark Davis of Houston-based Davis Commercial represented the buyer. The project is slated for an October 1, 2012, completion.

March 22, 2012

CONSOLIDATED DISTRIBUTION CORP. EXPANDS TO DALLAS

by admin March 22, 2012

DALLAS — Chicago-based Consolidated Distribution Corp. has opened a 50,000-square-foot distribution center, located in Dallas. The new distribution center will serve the Unified Foodservice Purchasing Co-op, which manages the Yum! Brands Inc. and its restaurant systems, including KFC, Pizza Hut, Taco Bell, A&W and Long John Silver's.

March 22, 2012

Multifamily Texas

APT. COMMUNITY FETCHES MORE THAN $30.1M

by admin March 22, 2012

SAN ANTONIO — NorthMarq Capital has arranged a $22.02 million construction loan and $8.09 million in joint venture financing for the 344-unit Pecan Springs Apartments, located on the northeast corner of UTSA Boulevard and Interstate 10 in San Antonio. John Stewart and William Jackson of NorthMarq's Dallas office arranged the 3-year loan and joint venture partnership through a regional commercial bank and an institutional investor.

March 22, 2012

Hospitality Texas

ARIES CAPITAL ARRANGES $4.8M LOAN FOR MICROTEL

by admin March 22, 2012

BUDA — Aries Capital has secured a $4.8 million ground-up construction/permanent loan for the 83-room Microtel, located in Buda. Leonard Smith of Aries Capital's Houston office arranged the loan on behalf of the borrower, Longhorn Lodging Partners. The property will be managed by Caerus Hospitality Partners.

March 22, 2012

Multifamily Texas

THE LEXINGTON APTS. SELLS

by admin March 21, 2012

GRAND PRAIRIE — The 164-unit Lexington Apartments, located at 201 W. Tarrant Rd. in Grand Prairie, has been sold. The property is currently 90 percent occupied. Sam Pettigrew of Dallas-based The Cantrell Company & Partners represented the buyer, Lexington Prairie LP, and the seller in the transaction.

March 21, 2012

Retail Texas

NET REALTY ARRANGES SHOPPING CENTER SALE

by admin March 21, 2012

CARROLLTON — Net Realty Advisors has brokered the sale of the 14,336-square-foot Shops at Mercer Crossing, a shopping center located at Luna Road and Valley View Lane in Carrollton. The property was 40 percent leased at the time of the sale to tenants such as Subway, b.b. bop and All Dogs Unleashed. Gavin Kam and Brad Kam of Net Realty Advisors were the sole brokers in the transaction. The buyer is a West Coast-based investor and the seller is a local retail developer.

March 21, 2012

Retail Texas

WOODLAND PROPERTY BROKERS RETAIL SALE

by admin March 21, 2012

AUSTIN — Austin-based Woodland Property Group has arranged the sale of 2324 South Lamar, a retail property located in Austin. William Stringer of Austin-based Ausvest Commercial/Investment Real Estate represented the seller in the transaction. Blair Helgren of Woodland Property Group represented the buyer, an Austin-based real estate investment group.

March 21, 2012

Office Texas

NAI ROBERT LYNN ARRANGES OFFICE/WAREHOUSE LEASE

by admin March 21, 2012

IRVING — Dallas-based NAI Robert Lynn has brokered a 54,047-square-foot lease for office/warehouse space, located at 2205 E. Pioneer Dr. in Irving. Robert Blankenship and Jim Svidron of NAI Robert Lynn represented the tenant, Arbor Commercial Carpet, in the lease transaction. Chris Bly with Proterra Properties' Arlington office represented the landlord, Dallas Southern Distributors.

March 21, 2012

Retail Texas

FASHION BOUTIQUE TO RELOCATE TO WEST 7TH

by admin March 21, 2012

FORT WORTH — Lane-Knight has plans to relocate its Camp Bowie Boulevard store to a 1,411-square-foot location on Crockett Street in West 7th, a 13-acre mixed-use development in Fort Worth. The boutique is slated to open in late summer 2012. Frank Bullock and Carey Shagets of SRS Real Estate Partners' Dallas/Fort Worth office, along with Roger Chieffalo of Fort Worth-based Chieffalo Realty, represented both the landlord and tenant in the lease negotiations.

March 21, 2012

Healthcare Texas

MEDICAL CAMPUS BREAKS GROUND

by admin March 20, 2012

NEW BRAUNFELS — Construction has commenced on the 84-acre Resolute Health Wellness Campus, a medical campus located adjacent to Creekside Town Center at the intersection of FM Road 306 and FM Road 1101 in New Braunfels. The development will include a 190-bed hospital, an urgent care center, fitness and spa centers, health-minded shops, healthy dining and green spaces. Construction is expected to be complete in 2013. Resolute Health will also open its Family Urgent Care Center on April 3 at Creekside Town Center, located at 160 Creekside Way, Suite 602 in New Braunfels. Creekside was developed by Houston-based NewQuest Properties and Cedar Falls, Iowa-based Lockard Cos.

March 20, 2012

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