While the San Antonio area has not been immune to the effects of the economic slowdown, the city’s location, business-friendly atmosphere, strong labor force and low cost of living continue to create a thriving environment for warehousing, logistics and manufacturing companies. One of those companies, Caterpillar Inc., recently completed the construction on the 260,000-square-foot first phase of its manufacturing facility in Schertz that will supply components to the company’s assembly plant in nearby Seguin. Also in Schertz, Sysco Corporation is close to completing a 635,000-square-foot distribution facility in an effort to consolidate and expand its operations in Central Texas. These and other new additions continue to make local headlines, but what really had the industrial market buzzing during most of the first half of 2011 was the activity generated by the Eagle Ford Shale oil and gas play. As with many south and central Texas markets, industrial activity in San Antonio’s MSA has been positively affected by the Eagle Ford Shale, a 24-county oil and gas play stretching from the Texas-Mexico border to well east of San Antonio. With its central location along the northern edge of the Eagle Ford Shale, San Antonio has attracted the attention of major energy …
EDINBURG — Monmouth Real Estate Investment Corp. has purchased a 113,871-square-foot industrial building, located at 502 W. Independence Dr. in Edinburg, for $8 million. The property is net-leased to FedEx for 10 years. The building sits on 13.1 acres and was constructed by Kansas City, Mo.-based Jones Development Co. No brokers were involved in the transaction.
FRIENDSWOOD — Texas Gulf Bank has broken ground on a new 4,665-square-foot branch, located at 1005 Friendswood Dr. in Friendswood. The new facility is slated for an early 2012 delivery. Eric Batte and Scott Clanton of McCleary German Architects designed the new facility, and Construction Masters of Houston are in charge of construction. The branch will feature a four-lane motor bank and an outside ATM.
ROANOKE — Holliday Fenoglio Fowler (HFF) has arranged refinancing for the 198,000-square-foot United Supermarkets Distribution Center, located at 200 Freedom Dr. in Roanoke. Mark West and Brandon Chavoya of HFF's Dallas office arranged the financing through Bank of America Merrill Lynch on behalf of the borrower, United Supermarkets. Proceeds of the loan will refinance a construction loan.
HOUSTON — Braun Enterprises has acquired the 14,000-square-foot former Harolds in Heights clothing store, located at 350 W. 19th St. in Houston's Heights neighborhood. Houston-based Baker Katz represented the Wiesenthal family, the seller, and the buyer was self-represented.
DALLAS — Dallas-based Ashford Hospitality Trust has entered into a new $105 million senior credit facility, which replaces the previous credit facility that was scheduled to mature in April 2012. The facility features an option to expand the borrowing capacity up to $45 million. KeyBank acted as the lead arranger and administrative agent. Other lenders include Morgan Stanley Bank, Credit Suisse and UBS Loan Finance.
DALLAS — KBS Realty Advisors has commenced a $2 million enhancement program for the 515,372-square-foot Providence Towers, located at 5001 Spring Valley Rd. in Dallas. Renovations include lobby upgrades, vestibules in the parking structure and signage enhancements. Tenants include Time Warner Cable, Morgan Stanley, Transwestern, U.S. Senator John Cornyn's offices and Degolyer & MacNaughton. Entos Design designed the renovations and Turner Construction is handling the development. Completion is slated for January 2012.
HOUSTON — Exel has leased 191,537 square feet of industrial space at 8705 City Park Loop in Houston. Edward Bane of Houston-based Holt Lunsford Commercial represented the landlord, TA Associates Realty, and Sam Brown of Sam H. Brown, Inc., represented the tenant.
DALLAS — Hutton Communications has renewed its lease for 76,220 square feet of industrial space at 2007 Royal Ln. in Dallas. Ken Wesson and Adam Graham of Lee & Associates' Dallas/Fort Worth office represented the landlord, Cabot Properties and Roy Reis of Mohr Partners represented the tenant.
HOUSTON — O'Connor Capital Partners and Wafra Investment Advisory Group have developed a fund to acquire the 278,209-square-foot Baybrook Village, an open-air center in Houston. The development is anchored by Sports Authority, Ross Dress for Less and Toys R' Us. Other tenants include PetSmart, ULTA, Jos. A. Bank and JoAnn Fabric & Crafts. Blue Gate Partners represented the seller, a family advised by New York City-based Conventry Real Estate Advisors.