Texas

CADENCE MCSHANE TO CONSTRUCT NEW ELEMENTARY SCHOOL

by admin February 15, 2011

PLANO — Plano Independent School District (ISD) has selected Cadence McShane Construction Co. to construct the new single-story, 77,000-square-foot Memorial Elementary School that will be located at 2600 Avenue R in Plano. Cadence McShane will also renovate Weatherford Elementary School, located at 2941 Mollimar Dr. in Plano, on behalf of Plano ISD. It will enhance 64,969 square feet of the existing school facility in addition to the construction of 3,396 square feet of new space. PBK is providing the architectural services for Memorial Elementary School that is scheduled for an August 2012 completion. Perkins + Will is serving as the project architect for Weatherford Elementary School, slated for completion in September 2012.

February 15, 2011

HFF ARRANGES $17.7 MILLION FOR FIVE-PROPERTY INDUSTRIAL PORTFOLIO

by admin February 15, 2011

DALLAS — Holliday Fenoglio Fowler (HFF) has arranged $17.7 million financing for a five-property industrial portfolio totaling 667,702 square feet in northern Dallas. HFF worked on behalf of Crow Holdings to secure the fixed-rate loan through MetLife Real Estate Investments. The portfolio consists of multi-tenant office/warehouse and distribution facilities that are 92 percent leased to tenants including Xerox Corp., Freed's Furniture, Bunzl Distribution, Tohatsu America Corp. and All American Flooring. The properties included in the portfolio are 2005 Valley View Ln., 4650-4654 Nall Rd., 4700 Nall Rd., 4720 Simonton Rd. and 4990 Alpha Rd. in Dallas.

February 15, 2011

Industrial Texas

BRADFORD FACILITATES TWO OFFICE TRANSACTIONS

by admin February 15, 2011

IRVING AND DALLAS — Illinois Mutual Life Insurance Co. has sold a 51,951-square-foot office building, located at 8615 Freeport Pkwy. in Irving, to Capital Commercial Investments. Leigh Richter of Bradford Commercial Real Estate Services represented the seller, while Roger Shipp represented Capital Commercial Investments in house. Meanwhile, Foxworth-Galbraith Lumber Co. has sold a two-story, 47,086-square-foot office building, located at 17111 Waterview Pkwy. in Dallas, to Eclipse Electronics Systems. Sharon Friedberg of Bradford Commercial Real Estate Services and Nick Rossini of UGL Services represented the buyer, while Janice Peters of Hudson Peters Commercial represented the seller.

February 15, 2011

Civic Texas

SHW GROUP TO DESIGN TWO ELEMENTARY SCHOOLS FOR GEORGETOWN ISD

by admin February 11, 2011

GEORGETOWN — SHW Group, an educational architecture and engineering firm, has been selected by the Georgetown Independent School District (ISD) to design two elementary schools — McCoy Elementary School to the southwest of Georgetown and a second, unnamed elementary school to the southeast — for a total project cost of $31.2 million. The existing McCoy Elementary School will be repurposed into an administration support facility. Plans for the new two-story, 88,000-square-foot McCoy Elementary School include sustainable features such as rainwater collection, a green roof, local construction materials and day lighting. It will serve 800 kindergarten through fifth grade students. Construction on the new McCoy will begin this spring and is scheduled for completion in fall 2012. The second, unnamed elementary school designed by SHW Group will open no later than 2014. Together, the two new elementary schools will serve 1,600 students.

February 11, 2011

Hospitality Texas

MARCUS & MILLICHAP FACILITATES HOTEL AND MOB SALES

by admin February 11, 2011

DEL RIO AND PLANO — A 59-room Comfort Inn & Suites, located at 3636 Veterans Blvd. in Del Rio, has sold. Allan Miller of Marcus & Millichap's Austin office represented both parties, both limited liability companies, in the transaction. In addition, Patrick Giles and Craig Lewin of Marcus & Millichap's Dallas office represented the seller, a Plano-based private investor, in the sale of Plastic & Cosmetic Surgery Center of Texas, an 11,000-square-foot, single-tenant net-leased property in Plano. New York-based Broadstone Net Lease purchased the medical office property, located at 5316 W. Plano Pkwy. The single-story building includes two state-licensed, Medicare-approved operating rooms.

February 11, 2011

Retail Texas

INVESTCORP AND GLOBAL FUND INVESTMENT ACQUIRE THE SHOPS AT TECH RIDGE

by admin February 10, 2011

AUSTIN — A joint venture between Investcorp, a global investment manager, and Global Fund Investments has acquired The Shops at Tech Ridge, a 332,845-square-foot shopping center in Austin. Located at the northeast corner of Interstate 35 and Parmer Lane, the retail property was built in 2003 and is shadow-anchored by SuperTarget. Tenants include Best Buy, Toys “R” Us, Ross Dress For Less, PetSmart, Hobby Lobby, Party City and Pier 1 Imports. Global Fund Investments will manage the property, while Austin-based Endeavor Real Estate Group will lease it.

February 10, 2011

Mixed-Use Texas

TEXAS SPEEDWAY CENTER TRADES

by admin February 10, 2011

NORTHLAKE — Lester Day and Walter Floyd of Transwestern's Fort Worth office have represented Texas Speedway Return, LLC in its sale of approximately 160 acres of land known as Texas Speedway Center to a buyer, HW Indian Springs, LP, that intends to hold the site for future high-density development. Located at the northeast corner of Interstate 35 West and Highway 1171 in Northlake, the property is entitled for high-density residential and commercial uses. The property was a bank REO.

February 10, 2011

Healthcare Texas

TEXARKANA MEDICAL PORTFOLIO SELLS

by admin February 9, 2011

TEXARKANA — Texarkana Medical Portfolio, a multi-property medical complex with more than 500,000 square feet of space Texarkana's downtown district, has changed hands between two limited liability companies. Jacob Steele and Andy Glinski of Marcus & Millichap's Denver office and Brad Bailey of the firm's Austin office represented both parties. Marcus & Millichap's Tim Speck assisted in closing the transaction. Terms were undisclosed.

February 9, 2011

Mixed-Use Texas

MIXED-USE BREAKS GROUND AT SHAMBURGER LUMBERYARD SITE

by admin February 9, 2011

DALLAS — A joint venture between Prescott Realty Group, Northwestern Mutual and AREA Property has broken ground on a $45 million mixed-use development on the old Shamburger Lumberyard site near Southern Methodist University (SMU) in Dallas. Within walking distance of the DART Mockingbird rail station and a quarter mile from SMU, the development consists of 417 apartments and 9,100 square feet of retail space and is the final phase in the revitalization of the University Crossing neighborhood. Humphreys & Partners designed the mixed-use development, consisting of two levels of podium parking, street-facing retail space and three four-story buildings.

February 9, 2011

Texas

MCDONALD JOINS NEWMARK KNIGHT FRANK AS MANAGING PRINCIPAL

by admin February 9, 2011

HOUSTON — Brandi McDonald has joined Newmark Knight Frank in Houston as a managing principal. During the past 15 years, she has completed more than 8 million square feet of office leasing transactions, with a total value exceeding $1.8 billion. She is currently a member of the board of directors of the Greater Houston Women's Chamber of Commerce, president of the Houston Office Leasing Brokers Association, on the Houstonian Advisory Board and chairs the 2011 World Trade Soiree of the Greater Houston Partnership. McDonald joins Newmark Knight Frank from Transwestern, where she was managing director and senior vice president of tenant advisory services and served on the firm's board of directors.

February 9, 2011

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