HARLINGEN — Tire Recycling & Processing LLC (TRP) has purchased a 42,777-square-foot facility in the Harlingen Industrial Park and plans to reposition it into a tire processing plant. The company plans on creating 30 new jobs with the conversion while processing used tires into granules, carbon black and bio fuels. TRP was formed by Ecologist Services & Dispositions, Inc. of Brownsville to address the approximately 3 billion used tires in the southern border of the U.S.
LA PORTE — Marcus & Millichap Real Estate Investment Services has brokered the sale of a 2,686-square-foot Jack in the Box location at 9629 Fairmont Pkwy. in La Porte. Marcus & Millichap’s Chris Cunning represented the seller, a limited liability company, and the buyer, a private investor, was secured and represented by Marcus & Millichap’s Jack Hopkins and Jimmy Slusher. Marcus & Millichap’s Tim Speck assisted in closing the transaction. Jack in the Box has 18 years left on its 20-year lease at the location.
WOODWAY — Haggard & Stocking Associates, Inc. (H&S) has opened an approximately 20,000-square-foot warehouse facility in Woodway, which cost approximately $1 million to construct. H&S serves the industrial marketplace, including the airline, rail, aerospace and automotive industries. H&S previously had a facility that was approximately 5,000 square feet located at 7201 Santos Cir.
DALLAS — Jones Lang LaSalle’s (JLL) Capital Markets has secured a $205 million loan for a joint venture for The Crescent, a 1.3 million-square-foot office complex in Dallas. The joint venture between J.P. Morgan Asset Management and Crescent Real Estate Equities received the 10-year, interest-only loan through MetLife. JLL’s Mike Melody, Paul House, Robby Zorich and John Alvarado arranged the financing. The Crescent features Class A office and retail space, and is comprised of more than 100 tenants. The property is located in Dallas’ Uptown/Turtle Creek submarket at 200 Crescent Ct.
GRAPEVINE — Holliday Fenoglio Fowler (HFF) has arranged $43 million in financing for Hilton DFW Lakes, a 395-room hotel and conference center comprised of two nine-story towers at 1800 Hwy. 26 E. in Grapevine. A joint venture between Somera Capital Management and affiliates of Zelman Development Co. and Quorum Hotels & Resorts received the financing through Cornerstone Real Estate Advisers. HFF’s John Bourret, Dan Peek and Paul Brindley represented the joint venture, while Tom Cross represented Cornerstone in house. The hotel and conference center features 60,000 square feet of meeting space, a 14,400-square-foot exhibition hall, a private lake, an indoor and outdoor pool, horseback riding, four restaurants and basketball, volleyball and tennis courts.
DALLAS — Construction is set to commence in September on the five-story mixed-use building that will house the University Park Library in the new Plaza at Preston Center in Dallas. The construction will also add a multi-level underground parking garage, which will add 450 parking spaces to the center. The entire project is slated for a winter 2012 completion. Good Fulton & Farrell is designing the project and Rogers O’Brien Construction is the contractor. Venture Commercial is leasing the retail space, and Altschuler and Co. is leasing the office space. Other tenants include New Balance, Baskin Robbins, Corner Bakery Café, Lucky Dog Barkery and Matthew Trent Jewelry Design Studio.
FORNEY — Tabani Acquisitions has purchased a 39,039-square-foot retail center at Mustang Crossing, located at 351-501 FM 548 in Forney from Wells Fargo Bank. Tabani will manage and lease the retail center, and CB Richard Ellis (CBRE) will list the center’s outparcel portion — including GameStop and Starbucks — for sale. CBRE’s Jennifer Pierson and Beth Pierson represented Wells Fargo Bank in the transaction.
RICHARDSON — Colliers International in Dallas has added approximately 150,000 square feet of office space to its leasing and management portfolio. The properties now under their operation include Campbell Square II, a four-building complex totaling 82,745 square feet of office space, and Spring Creek Business Center, a three-building complex totaling 64,534 square feet of office space. There is currently 26,311 square feet of office space available at Campbell Square and 16,230 square feet at Spring Creek. Colliers’ Scott McGarity and Kevin Brookmole will handle the properties’ leasing and management.
HOUSTON — Holliday Fenoglio Fowler (HFF) has brokered the sale of the following properties in Houston: Beltway Antoine Business Center, a 383,100-square-foot, Class A industrial park, has been purchased by DCT Industrial Trust, Inc. Beltway is comprised of seven buildings and is 95 percent leased to 17 tenants. The property is located at 3403-3463 N. Sam Houston Pkwy. in Houston’s industrial submarket. The seller, Denver-based Mountain West Industrial Properties, was represented by HFF’s Rusty Tamlyn and Trent Agnew. Broadstone Grand Parkway, a 342-unit, Class A multifamily community near Katy, has been purchased by Sunstone Realty Advisors. Broadstone is located at 1111 Falcon Park Dr. and is 95.9 percent leased. The property completed construction in 2010 and was developed by Phoenix-based Alliance Communities, a division of Alliance Residential Co., the seller. Prudential Real Estate Investors advised Alliance in the transaction. HFF’s Todd Stewart, Craig LaFollette, Todd Marix, Tre Banks and Chris Curry represented Alliance in the transaction. HFF also arranged a fixed-rate acquisition loan for Broadstone. HFF’s Matt Kafka and John Brownlee arranged the financing provided by Allstate Investments.
LUBBOCK — HDA Architects has designed a 112,000-square-foot corporate headquarters in Lubbock for Standard Sales Co. The building cost $10.8 million to construct. General contractor SM Wilson completed construction on the project. The building features a clay tile mansard roof, slate floors and brick and stone veneers. Standard Sales Co. is the wholesale distributor for Anheuser-Busch, which produces Budweiser and Michelob beverages. The new facility marks HDA’s 90th facility it has designed for the beverage industry.
