LEWISVILLE — Huffines Communities has begun development of Phase I of its master planned community Hebron 121 Station in Lewisville. The 90-acre, infill, mixed-use development is located near Vista Ridge Mall at the intersection of Interstate 35 East and State Highway 121, adjacent to the new Denton County Transit Authority (DCTA) Hebron rail and bus station. The initial phase includes 234 multifamily residences and is expected to be completed in late spring 2011. The $3 million development will ultimately include 1,755 multifamily units and 250,000 square feet of retail and office space.
RICHARDSON — Champion, along with investment partner Fidelity Real Estate Group, has acquired a nine-story, 234,000-square-foot Class A office building at 2600 N. Central Expressway in Richardson, known as One Telecom. It previously housed Southwestern Bell and AT&T. Renovations are planned and Peloton Commercial Real Estate has been hired as the building's leasing representative.
HOUSTON — TNB Properties has purchased a 100,000-square-foot office building at 500 S. Main St. in Houston's Galena Park from Valley Plaza Donaho. Eric Hughes of Centermark Commercial Real Estate represented the buyer in the transaction, while Doyle Toups and Jim Authenreith of NAI Houston represented the seller.
RED OAK — Cadence McShane Construction Co. has completed the $66.5 million, 340,00-square-foot Red Oak High School, located at State Highway 342 and FM 2377 in Red Oak. The three-story high school features 120 instructional spaces, a large performing arts center, a full-service cafeteria, a digitally equipped library, an arts studio, dance and theater areas and comprehensive science laboratories. Also included is an athletics wing containing a large competition gymnasium, two additional sports gymnasiums, weight and practice rooms, and coaching and administrative offices.
IRVING — KBS Legacy Partners Apartment REIT has purchased Dakota Hill, a 504-unit Class A luxury, garden-style apartment complex in Irving for $36.1 million, representing the REIT's first acquisition since being launched in March 2010 by KBS Capital Advisors and Legacy Partners Residential Realty (LPRR). Dakota Hill consists of 22 three-story buildings across 20.3 acres. It was built in 1999 and is more than 94 percent occupied. Mark Stymiest of CB Richard Ellis' Dallas office represented the seller, while Legacy Partners Residential, an affiliate of LPRR, represented KBS Legacy Partners Apartment REIT.
HOUSTON — Mayfield Properties has acquired a 120,810-square-foot industrial facility located at 8451 Market Street Rd. in southeast Houston for an undisclosed price. Market Portwall LP, a partnership controlled by The National Realty Group, sold the property that is situated close to the 610 Loop and Interstate 10 interchange, 3 miles north of the Port of Houston and 5 miles east of Houston's central business district. Rusty Tamlyn and Trent Agnew of Holliday Fenoglio Fowler (HFF) represented the seller, while Brian Carlton of HFF, working on behalf of the buyer, placed a 5-year, 5 percent fixed-rate acquisition loan with Aetna Life Insurance Co.
HOUSTON — A subsidiary of BG Group plc has signed a 164,000-square-foot lease at Houston's MainPlace office tower, which will be renamed BG Group Place after the natural gas company. Located at 811 Main in downtown Houston, the space will serve as BG Group's U.S. headquarters with the possibility of expanding in the 46-story, 1 million-square-foot office tower. The company plans to relocate from its current Galleria location in mid to late 2011. BG Group is based in the U.K. and is active in more than 25 countries on five continents. Its strategy is focused on connecting competitively priced resources to specific, high-value markets with a broad portfolio of exploration and production. Jim Bailey, Joe Peddie and Tim Relyea of Cushman & Wakefield and Glenn Pinkerton of Vinson & Elkins represented BG Group in the transaction. Chrissy Wilson and Stewart Robinson of Hines represented the landlord, HC Green Development Fund, a partnership of the California Public Employees' Retirement System (CalPERS) and Hines.
ALLEN — Top Golf, an all-weather sports and entertainment store, has broken ground on its new 65,000-square-foot facility that will open at The Village at Allen in spring 2011. Located at 1500 Allen Station Pkwy. in Allen, Top Golf will feature a triple-deck tee line with 94 hitting bays, 5,000 square feet of private event space, a rooftop lounge terrace, and a full-service bar and restaurant. The Village at Allen is one component of a 3 million-square-foot regional, mixed-use lifestyle development located in both Allen and Fairview at the intersection of U.S. Highway 75 and Stacy Road. The MGHerring Group of Dallas developed the property.
PLANO — Intuit, the provider of services such as QuickBooks, Quicken and TurboTax, has renewed its 166,235-square-foot office lease at The Campus at Legacy located at 5601 Headquarters Dr. in Plano. Scott Collier and Steve Thelen of Jones Lang LaSalle represented Intuit. Piedmont Operating Partnership owns The Campus at Legacy, which Intuit has resided in since its opening in 2000.
FORNEY — The Regional Transportation Council has voted unanimously to allocate $9 million of a $78 million Kaufman County transportation package for the construction of the new Forney Parkway. These funds, together with the approval of the City of Forney and owners of the adjacent property Meadow Ridge Farms, complete the public funding portion of the public/private partnership. The Forney Parkway will be a multi-lane thoroughfare connecting FM 548 on the north to FM 1641 on the south. The 2.2-mile road will feature an above-grade, eight-lane interchange spanning S.H. 80 and the adjacent Union Pacific rail line.