Texas

RELIANT HOSPITAL PARTNERS ANNOUNCES NEW HOSPITAL

by admin November 23, 2010

HOUSTON — Reliant Hospital Partners plans to construct a new healthcare facility in Houston. The $25 million project, which is known as Reliant Rehabilitation Hospital-Houston Northwest, will be located at the intersection of State Highway 249 and Chasewood Park Drive within the new Vintage Park development. The building will total approximately 65,000 square feet over three floors. It will contain 60 beds and will open in early 2012. Reliant is partnering with The Cirrus Group to develop the project.

November 23, 2010

MARCUS & MILLICHAP COMPLETES DISTRESSED APARTMENT SALE IN IRVING

by admin November 23, 2010

IRVING — Marcus & Millichap has completed the sale of Chivas West, a lender-owned apartment property located in Irving. The community is situated at 1701 N. Britain Road. It contains 72 units in a mix of one- through three-bedroom residences. It was renovated this year and was 94 percent occupied at the time of the sale. Miachel Ware and Will Jarnagin of Marcus & Millichap's Dallas office represented the seller.. Nick Fluellen, also off Marcus & Millichap's Dallas office, represented the buyer, a private investor from Flower Mound.

November 23, 2010

Hospitality Texas

CROWNE PLAZA FORT WORTH SOUTH TO OPEN NEXT WEEK

by admin November 23, 2010

FORT WORTH — Next week will see the opening of the new Crowne Plaza Fort Worth South. The hotel, which is located at the intersection of Interstate 35W and Altamesa East Boulevard in Fort Worth, was converted from the Radisson flag. It features 247 guest rooms, more than 14,000 square feet of meeting space, an indoor pool and jacuzzi, a fitness center, a restaurant and a lobby bar. It is owned by Chhatrala Hotel Group under a license agreement with InterContiniental Hotels Group. The operator is Shiva Management.

November 23, 2010

Multifamily Texas

ALLIANCE ACQUIRES 224-UNIT HOUSTON MULTIFAMILY PROPERTY

by admin November 22, 2010

HOUSTON, TEXAS — Alliance Residential Co. has acquired Gramercy Park Condominiums, a multifamily property located in the Texas Medical Center area of Houston. Alliance acquired the 224-unit project out of bankruptcy in a Section 363 auction sale. The community offers one-, two- and three-bedroom floorplans ranging in size from 781 to 1,529 square feet. The two-building, project, which was completed in 2006, will be renamed Broadstone Gramercy. Alliance also plans to complete construction on the unfinished northern building.

November 22, 2010

Office Texas

CUMULUS MEDIA SIGNS 20,248-SQUARE-FOOT OFFICE LEASE IN DALLAS

by admin November 22, 2010

DALLAS — Cumulus Media Inc. has leased 20,248 square feet of office space at Victory Park. The company four Dallas-Ft. Worth radio stations will be relocating to the property, which is owned by Victory Park UST Joint Venture I. Victory Park offers two five-story Class A office buildings totaling 185,000 square feet. Jeff Ellerman and Phil Puckett of CB Richard Ellis represented Cumulus; Bill Brokaw of Cousins Properties represented Victory Park UST Joint Venture I in the transaction. Terms of the lease were not released.

November 22, 2010

Office Texas

GRUBB & ELLIS COMPLETES TWO TRANSACTIONS IN SAN ANTONIO, AUSTIN

by admin November 19, 2010

SAN ANTONIO AND AUSTIN, TEXAS — Grubb & Ellis' Central Texas offices have completed two transactions in San Antonio and Austin. In the first transaction, Rick Stagers of Grubb & Ellis' San Antonio office represented Ronnie Wilson in the disposition of a 2.4-acre land parcel, located at 10920 Bandera Road in San Antonio, to William Sweatt. Humphrey Hassing of Home Team America represented the buyer. In the second transaction, Quality Systems Inc. inked a deal to lease 21,148 square feet at 12301 Riata Trace Parkway in Austin. Robert Bantly and Brian Butterfield of Grubb & Ellis' Austin office represented the tenant; Richard Paddock of HPI Corporate Services represented the landlord, Spear Street Capital, in the transaction. Terms of the transactions were not released.

November 19, 2010

Office Texas

6,097-SQUARE-FOOT OFFICE LEASE SIGNED IN HOUSTON

by admin November 19, 2010

HOUSTON — Jack in the Box has leased 6,097 square feet of space at 1225 North Loop West in Houston. The 11-story, Class A office building is owned by 1225 North Loop Investments Inc. John Pruitt and Jessica Ochoa of CB Richard Ellis represented the landlord in the transaction. The lease terms were not disclosed.

November 19, 2010

Retail Texas

HFF TO MARKET RETAIL POWER CENTER IN SOUTH SAN ANTONIO

by admin November 19, 2010

SAN ANTONIO — The Houston and Dallas offices of Holliday Fenoglio Fowler (HFF) have been selected to market for sale City Base Landing, a retail power center in south San Antonio. The 201,426-square-foot center will be offered for sale for $35 million, which equates to a 7.9 percent cap rate. Built in 2005, the property is occupied by Best Buy, Office Depot, Hancock Fabrics, AT&T, Buffalo Wild Wings, Cato Fashions, Chase Bank, Eye Masters, Shoe Show and Sherwin Williams. The 93 percent-occupied property is situated on 22 acres at 3326 Southeast Military Dr. The property is being marketed by Robert Williamson, Rusty Tamlyn and Jim Batjer of HFF.

November 19, 2010

Retail Texas

THE VILLAGE AT FAIRVIEW ADDS MORE THAN 100,000 SF

by admin November 18, 2010

FAIRVIEW — The Village at Fairview has recently added Guy Harvey's Island Grill, The Elegant Door, Twisted Roof Burger Co. and Whole Foods Market to its lineup of retailers and restaurants. And before the Holidays, the MGHerring Group's mixed-use lifestyle center will add a Real Bookstore (20,000 square feet), Finish Line (3,650 square feet), Vertigo (3,500 square feet), Daired's Salon & Spa Pangea (13,000 square feet), La Duni Latin Kitchen & Coffee Studio (7,000 square feet) and Splitsville (25,000 square feet). The Village at Fairview is anchored by Dillard's, Macy's and JCPenney.

November 18, 2010

Retail Texas

MORRIS CAPITAL PARTNERS FORMS IN FORT WORTH

by admin November 18, 2010

FORT WORTH — Retail real estate development, redevelopment and acquisitions veteran Bill Morris has joined with Walter Floyd to form Morris Capital Partners in Fort Worth. The new commercial real estate firm focuses on value add commercial real estate opportunities including properties in underserved markets nationwide. The firm recently closed a deal on the 95,000-square-foot Bradford Plaza in Stillwater, Okla. It was sold to the firm out of receivership from Midland Loan Services. Tenants include Famous Footwear, Old Navy, Cato and Cici's Pizza.

November 18, 2010

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