FORT BLISS — Balfour Beatty Communities has plans to expand its Fort Bliss/White Sands Missile Range military housing project with the U.S. Department of the Army by building an additional 500 townhomes at Fort Bliss. The development and construction is primarily financed through a $141 million loan. Balfour Beatty will oversee the design, construction and management responsibilities for the project, which is slated for a January 2016 delivery. Construction is scheduled to begin in the first quarter of 2013. Amenities will include playground areas, basketball courts, volleyball courts and large gazebos. Dallas-based Balfour Beatty Construction is the general contractor.
DENTON — Rayzor Ranch Town Center, a new open-air retail and entertainment development located at the intersection of Interstate 35 and U.S. Highway 380 in Denton, will add a 126,000-square-foot Dillard's to its tenant roster. Dillard's will serve as the shopping center's first anchor department store. RED Development, owner of Rayzor Ranch, plans to build out the center to 600,000 square feet and add several high-quality tenants.
KATY — Ybarra Investment/Jimmy Changa's has purchased an 87,991-square-foot site at the southwest corner of Interstate 10 and Westgreen in Katy from Vista Red. Mac Ruggles of Texas/Southwest Group represented the buyer in the transaction. Eric Walker of Capital Retail Properties represented the seller.
HOUSTON — Marcus & Millichap has arranged the sale of a 5,000-square-foot shopping center, located at 3507 S. Shepherd in Houston's inner loop. Derek Hargrove of Marcus & Millichap represented the seller, a private partnership, in the transaction. Braun Enterprises is the buyer.
PLANO — Cole Real Estate Investments has acquired a 318,600-square-foot, Class A office tower in Plano's Legacy Business Park for $120 million. The 12-story property is fully leased to Encana Oil & Gas and was delivered earlier this year. The property features a seven-story parking structure connected to the building via a skybridge. There are 15 years remaining on Encana's lease. Cole was self-represented by Boyd Messmann in the transaction.
PLANO — A 47,000-square-foot former Sports Authority, located at 701 Taylor Drive in Plano, will be the site of the new Dark Shadows Entertainment Center. The new tenant will provide year-round events, such as murder mystery dinners, corporate meetings, musical specials and weddings, as well as seasonal events, including haunted houses and Christmas fares. Construction of the new complex is expected to begin before the end of the year. Shawn Loney and Greg Trout of Henry S. Miller Brokerage represented the seller in the transaction.
ROSENBERG — Guru Krishna Corp. has purchased the 77-room Hampton Inn, located at 3312 Vista Drive in Rosenberg. R.S. Patel of Colliers International Hotels represented both the seller, Janmangal LTD, and the buyer in the transaction. The transaction was a short sale for Comerica Bank.
HOUSTON — Marcus & Millichap has arranged the sale of the 22,465-square-foot Fondren Shopping Center, located at 2801 Fondren Road in Houston. Derek Hargrove and Justin Miller of Marcus & Millichap's Houston office represented the seller, Braun Enterprises, in the transaction. Hargrove and Miller also procured the all-cash buyer, a Houston-based limited liability company.
RICHARDSON — NorthMarq Capital has secured $6 million in first mortgage refinancing for a four-property industrial portfolio totaling 186,376 square feet in Richardson. Ronald Reese of NorthMarq's Dallas office arranged the 10-year loan to amortize in 25 years. The loan was provided through a life company on behalf of the borrower, RMB Investments.
AUSTIN — Crossbeam Concierge has purchased the 290-unit Parmer Place, a multifamily community located at 12101 Dessau Road in Austin’s Tech Ridge submarket. The buyer plans to enhance the common area amenities, including the pool, deck, grilling areas, fitness center and clubhouse. The buyer also plans to implement new landscaping, exterior painting and entry enhancements. Crossbeam’s affiliate, Concierge Management Services, will operate the property.