AUSTIN — ABKOT Properties, a subsidiary of San Antonio-based Kotel Investment, has acquired a 15,900-square-foot industrial facility, located at 13802 Turbine Dr. in Austin, for an undisclosed price. The property is currently occupied by CenTex Door & Frame. Kotel was self-represented in the transaction, and Mark Minchew of RE/MAX's Austin office represented the seller.
FORT WORTH — HFF has arranged acquisition financing for the 204-unit Villa Lago Apartment Homes, a Class A multifamily community located at 8201 Boat Club Rd. in Fort Worth. The 10-building property is 96 percent occupied and features a resort-style pool, a business center, a fitness center and covered parking. Cortney Cole of HFF's Dallas office secured the 7-year loan through Freddie Mac on behalf of Venterra Realty.
HOUSTON — Shell has renewed a 15-year lease for 804,491 square feet in One Shell Plaza and 471,934 square feet in Two Shell Plaza in Houston, a combined 1.22 million square feet of office space, the largest office lease transaction in the world in 2011. Tim Relyea and Joe Peddie of Cushman & Wakefield's Houston office represented Shell in the lease transaction. Hines, the buildings' owner, was self-represented by Charles Elder and Chrissy Wilson. As part of the lease agreement, Hines will make capital improvements to the property, including mechanical and electrical upgrades and redesigned outdoor plaza areas.
MURPHY — Cadence McShane has finished the $37 million construction of the 282,000-square-foot C.A. McMillen High School, located at 750 N. Murphy Rd. in Murphy, on behalf of the Plano Independent School District. The construction included building 67 instructional spaces, 10 science laboratories, music spaces, a library, a cafeteria/kitchen and a new surface parking lot. Plano-based SHW Group provided architectural services for the project.
SAN ANTONIO — Plano-based SHW Group has been awarded a $21 million contract to renovate Brackenridge High School, located at 400 Eagleland Dr. in San Antonio, on behalf of the San Antonio Independent School District. The renovation project includes the addition of 10 science laboratories, broadcast media studios, art classrooms, animation laboratories, classrooms, a career tech center and parking improvements. Construction will begin in summer of 2012 and is slated for a 2014 completion.
HOUSTON — Marcus & Millichap has brokered the $2.45 million sale of a 3,578-square-foot retail facility leased to Chase Bank, located at 3209 N. Shepherd Dr. in Houston. Justin Miller of Marcus & Millichap's Houston office represented the seller, a Houston-based partnership, in the transaction. Reed Hudson of Stan Johnson Co.'s Houston office represented the buyer, a northeast U.S.-based partnership that was procured in a 1031 exchange. The property is leased to Chase Bank for 20 years.
DALLAS — Dallas-based Richard E. Colgin Co. has acquired an 85,000-square-foot industrial facility, located at 4111 Mint Way in Dallas' Redbird Industrial Park. Jim Ferris of Bradford Commercial Real Estate's Dallas office represented the buyer in the transaction. Scott Jackson of Farmers Branch-based Hudson Peters Commercial Real Estate represented the seller, ABG Partners.
GARLAND — Lee & Associates has brokered the sale of a 91,335-square-foot industrial building, located at 315 S. International Rd. in Garland. Nathan Denton and Brett Lewis of Lee & Associates' Dallas/Fort Worth office represented the seller, American National Bank of Texas, in the transaction. George Tanghongs of Lee & Associates' Dallas/Fort Worth office represented the buyer, Ronnie Luong.
HOUSTON — Cushman & Wakefield of Texas Inc. brokered the sale of a 83,000-square-foot former Chrysler dealership, located at 19200 Northwest Fwy. in Houston. James Foreman, Louis Kaleel, David Cook, Jeff Peden and Will Condrey of Cushman & Wakefield's Houston office represented the seller, CP Inver Grove III RE Holdco LLC, in the transaction. Phil Arnett of Houston-based D Philip Arnett Inc. represented the buyer, Emerson Electric Co.
WEBSTER — The BETZ Companies has acquired the 20,250-square-foot Shops at the Bay, a shopping center located at 300 & 304 W. Bay Area Blvd. in Webster. BETZ was self-represented by Ron Dagley in the transaction. Tony Patronella of Read-King Commercial Real Estate represented the seller, Bay Area 4.5 Acres Ltd. Gary Hough of Q10/Kinghorn, Driver, Hough & Co. secured a loan through Cantor Commercial Real Estate Lending on the property. Shops at the Bay includes tenants such as Chipotle Mexican Grill, Mooyah Burgers & Fries, Scottrade, Firehouse Subs, Crickett, Lovett Dental, Miko's Mediterranean Restaurant, Thai Spice Kitchen, RadioShack and Games Plus.