SAN ANTONIO — The first development parcel of the planned 2,400-home, 610-acre Luckey Ranch project, located at Loop 1604 North and Highway 90 in San Antonio, has sold. The Kalikow Group, on behalf of KEP Luckey Ranch Global Associates, sold the 93-acre parcel to LGI Homes and GTIS Partners for an undisclosed amount. The Luckey Ranch site consists of 539 acres slated for residential development as well as 71 acres zoned for commercial use.
Texas
ARLINGTON — Assured Self Storage has acquired 4.49 acres of land at the northeast corner of U.S. Highway 287 and Turner Warnell Road in Arlington for the construction of a third Assured Self Storage in Arlington. Shawn Valk of Assured Realty represented the self storage company in the acquisition, and Pete Richardson and Andrew Richardson of Henry S. Miller Brokerage represented the seller, Bill Rose of Rose Investments. It will be Assured Self Storage's 23rd location in the Dallas-Fort Worth metroplex.
CEDAR HILL AND AUSTIN — Toys R Us leased 34,521 square feet of retail space at 1382 S FM 362 in Cedar Hill from KRG Cedar Hill Plaza LP. David Copeland and Jeff Kittleson of CB Richard Ellis (CBRE) represented the landlord in the transaction. In addition, World Wide Technology has renewed its 68,040-square-foot industrial lease at 4616 W. Howard Ln. in Austin from NorthTech 5 & 6, Ltd. Ryan Keiser of CBRE represented the tenant in the transaction.
FORT WORTH — Westover Village, a 114,000-square-foot shopping center located at the southeast corner of SH 183 and Green Oaks Road in Fort Worth, has been sold to ArrowRock Westover Village LP, an investment fund owned and managed by St. Louis-based Summit Realty Ventures, for an undisclosed amount. Amegy Bank of Texas sold the property, which includes national tenants such as Petco, Party City, Half Price Books, JPMorgan Chase, Arby's and McDonald's, in an all-cash transaction. Read King represented the buyer and Holliday Fenoglio Fowler represented the seller. UCR ChainLinks Retail Advisors will market and lease the property for the new owner.
OKLAHOMA CITY, OKLA. — CBL & Associates Properties has formed a joint venture with Horizon Group Properties to develop The Outlet Shoppes at Oklahoma City, located on 65 acres at the intersection of Interstate 40 and Council Road in Oklahoma City. The 350,000-square-foot retail project is currently under construction and is expected to be completed in late summer 2011. Horizon is responsible for the leasing and management of the property, which is already 80 percent leased with tenants such as Saks Fifth Avenue Off 5th, Nike, Tommy Hilfiger, Banana Republic, J. Crew, Brooks Brothers, Coach and Guess. U.S. Bank committed a $48.9 million construction loan to the project with an initial term of 3 years with two 1-year extension options.
CORPUS CHRISTI — Clarkwood Industrial Park LLC has sold the former Celanese Technical Center to Double T&C Properties for an undisclosed amount in Corpus Christi. Located between Clarkwood Road and Rand Morgan, the property includes more than 200,000 square feet of office, warehouse and laboratory space in 11 buildings on more than 100 acres. Josh Gaines of NAI Cravey Real Estate Services represented the seller.
THE WOODLANDS — USAA Real Estate Co. has sold Boardwalk at Town Center to MEPT, a real estate equity fund that was advised by Kennedy Associates, for an undisclosed price. Located on Riva Row in The Woodlands, Boardwalk at Town Center was developed by USAA, in partnership with Houston-based Cambridge Development Group, from 2005 to 2008. The property consists of 450 premium apartments, and it will continue to be managed by Greystar Real Estate Partners. Will Balthrope and Ryan Epstein of Balthrope Group of Institutional Property Advisors, a Marcus & Millichap company, represented USAA in the transaction.
SAN ANTONIO — NorthMarq's Houston office has arranged first mortgage financing of $7.7 million for Cenzio Apartments, a 150-unit multifamily property located at 33 Lynn Batts in San Antonio. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its seller-servicer relationship with Freddie Mac.
LEVELLAND — South Plains College has broken ground on a new student residence hall on J.V. Morton Drive in Levelland. The $7 million project should be completed by fall 2011, with students moving in at the beginning of the spring 2012 semester. The two-story, 104-bed facility will feature a main common area with additional common areas on each of the four wings. This is the first new residence hall built on the South Plains College campus since 1981.
HOUSTON — EnerVest, a Houston-based oil and gas company, has expanded by 36,721 square feet and renewed its headquarters lease for a total of 117,316 square feet in First City Tower, located at 1001 Fannin in downtown Houston. Chip Colvill and Michael Anderson of Colvill Office Properties represented the landlord, FC Tower Property Partners, an affiliate of JMB Realty of Chicago. Meanwhile, Tim Relyea of Cushman & Wakefield of Houston represented EnerVest. First City Tower is a 1.3 million-square-foot, 49-story office building bounded by Fannin, McKinney, San Jacinto and Lamar streets in Houston's central business district.