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.
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.
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.
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.
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.
SUGAR LAND — A 214-room Hyatt Place, the largest to date, has opened in Sugar Land, 20 minutes outside of Houston. Located at 16730 Creek Bend Dr., the hotel features more than 4,000 square feet of flexible meeting space as well as a lakeside pavilion with 2,000 square feet of function space. It is the 21st Hyatt Place in Texas and was developed by Hyatt Hotels & Resorts and Woodbine Development Corp.
DALLAS — Grandbridge Real Estate Capital has recently closed a total of $16.7 million in multifamily loans in Texas. Stuart Wernick of Grandbridge's Dallas office originated and closed a $7.5 million first mortgage loan secured by Futura Lofts, a 126-unit multifamily property in Dallas. Funding was provided by Fannie Mae under its Delegated Servicing and Underwriting (DUS) loan program. Meanwhile, a $4.7 million first mortgage loan for Park Kensington Club/Stratford Village Apartments in Houston was originated by Greg Young of Grandbridge's Houston office. And a $4.5 million first mortgage loan for Londonberry Oaks Apartments in Denton was originated by Hunter McGrath of Grandbridge's Dallas office.
HOUSTON — Fortitude Management Group, a privately held oil and gas company, has renewed and expanded its lease at One Memorial City Plaza in Houston near Interstate 10 and the Sam Houston Tollway. Represented by Scott Fikes and Alex Bryant of Grubb & Ellis, Fortitude re-signed for 37,231 square feet of Class A office space. MetroNational leases the 34-story, 400,000-square-foot One Memorial City Plaza and was represented in house by John Green and Jerrod McQuan.
HOUSTON — Eight Houston area Target stores are being remodeled by Deerfield Beach, Fla.-based SIKON Construction to include Target's P-Fresh concept, which offers many of the grocery products available in Super Target stores. Designed by Minneapolis-based RSP Architects, the construction is slated to begin in December. SIKON has been involved in 20 Target store projects including both new stores and renovations.
ARLINGTON — Joern's Healthcare, represented by Blake Anderson of Grubb & Ellis, has leased 99,840 square feet of industrial space at 2100 Design Rd. in Arlington. Trey Fricke and Reid Bassinger of Lee & Associates represented the landlord, Ridge Property Trust.