Texas

SHELL SIGNS LARGEST 2011 OFFICE LEASE IN WORLD

by admin December 6, 2011

HOUSTON — Shell has renewed a 15-year lease for 804,491 square feet in One Shell Plaza and 471,934 square feet in Two Shell Plaza in Houston, a combined 1.22 million square feet of office space, the largest office lease transaction in the world in 2011. Tim Relyea and Joe Peddie of Cushman & Wakefield's Houston office represented Shell in the lease transaction. Hines, the buildings' owner, was self-represented by Charles Elder and Chrissy Wilson. As part of the lease agreement, Hines will make capital improvements to the property, including mechanical and electrical upgrades and redesigned outdoor plaza areas.

December 6, 2011

CADENCE MCSHANE DELIVERS 282,000 SQUARE FOOT HIGH SCHOOL

by admin December 6, 2011

MURPHY — Cadence McShane has finished the $37 million construction of the 282,000-square-foot C.A. McMillen High School, located at 750 N. Murphy Rd. in Murphy, on behalf of the Plano Independent School District. The construction included building 67 instructional spaces, 10 science laboratories, music spaces, a library, a cafeteria/kitchen and a new surface parking lot. Plano-based SHW Group provided architectural services for the project.

December 6, 2011

Civic Texas

SHW GROUP TO DESIGN $21 MILLION PROJECT FOR HIGH SCHOOL

by admin December 6, 2011

SAN ANTONIO — Plano-based SHW Group has been awarded a $21 million contract to renovate Brackenridge High School, located at 400 Eagleland Dr. in San Antonio, on behalf of the San Antonio Independent School District. The renovation project includes the addition of 10 science laboratories, broadcast media studios, art classrooms, animation laboratories, classrooms, a career tech center and parking improvements. Construction will begin in summer of 2012 and is slated for a 2014 completion.

December 6, 2011

Retail Texas

M&M BROKERS $2.45 MILLION SALE OF CHASE BANK IN HOUSTON

by admin December 6, 2011

HOUSTON — Marcus & Millichap has brokered the $2.45 million sale of a 3,578-square-foot retail facility leased to Chase Bank, located at 3209 N. Shepherd Dr. in Houston. Justin Miller of Marcus & Millichap's Houston office represented the seller, a Houston-based partnership, in the transaction. Reed Hudson of Stan Johnson Co.'s Houston office represented the buyer, a northeast U.S.-based partnership that was procured in a 1031 exchange. The property is leased to Chase Bank for 20 years.

December 6, 2011

Industrial Texas

85,000-SQUARE-FOOT INDUSTRIAL FACILITY IN DALLAS SELLS

by admin December 6, 2011

DALLAS — Dallas-based Richard E. Colgin Co. has acquired an 85,000-square-foot industrial facility, located at 4111 Mint Way in Dallas' Redbird Industrial Park. Jim Ferris of Bradford Commercial Real Estate's Dallas office represented the buyer in the transaction. Scott Jackson of Farmers Branch-based Hudson Peters Commercial Real Estate represented the seller, ABG Partners.

December 6, 2011

Industrial Texas

LEE & ASSOCIATES BROKERS SALE OF INDUSTRIAL FACILITY

by admin December 5, 2011

GARLAND — Lee & Associates has brokered the sale of a 91,335-square-foot industrial building, located at 315 S. International Rd. in Garland. Nathan Denton and Brett Lewis of Lee & Associates' Dallas/Fort Worth office represented the seller, American National Bank of Texas, in the transaction. George Tanghongs of Lee & Associates' Dallas/Fort Worth office represented the buyer, Ronnie Luong.

December 5, 2011

Retail Texas

C&W ARRANGES SALE OF FORMER CHRYSLER DEALERSHIP

by admin December 5, 2011

HOUSTON — Cushman & Wakefield of Texas Inc. brokered the sale of a 83,000-square-foot former Chrysler dealership, located at 19200 Northwest Fwy. in Houston. James Foreman, Louis Kaleel, David Cook, Jeff Peden and Will Condrey of Cushman & Wakefield's Houston office represented the seller, CP Inver Grove III RE Holdco LLC, in the transaction. Phil Arnett of Houston-based D Philip Arnett Inc. represented the buyer, Emerson Electric Co.

December 5, 2011

Retail Texas

BETZ ACQUIRES SHOPS AT THE BAY IN WEBSTER

by admin December 5, 2011

WEBSTER — The BETZ Companies has acquired the 20,250-square-foot Shops at the Bay, a shopping center located at 300 & 304 W. Bay Area Blvd. in Webster. BETZ was self-represented by Ron Dagley in the transaction. Tony Patronella of Read-King Commercial Real Estate represented the seller, Bay Area 4.5 Acres Ltd. Gary Hough of Q10/Kinghorn, Driver, Hough & Co. secured a loan through Cantor Commercial Real Estate Lending on the property. Shops at the Bay includes tenants such as Chipotle Mexican Grill, Mooyah Burgers & Fries, Scottrade, Firehouse Subs, Crickett, Lovett Dental, Miko's Mediterranean Restaurant, Thai Spice Kitchen, RadioShack and Games Plus.

December 5, 2011

Multifamily Texas

WALKER & DUNLOP PROVIDES $21.65 MILLION LOAN FOR LAKESIDE VILLAS

by admin December 5, 2011

GRAND PRAIRIE — Walker & Dunlop has provided $21.65 million in acquisition financing for the 350-unit Lakeside Villas Apartments, a garden-style multifamily property in Grand Prairie. Andrew Tapley led the Walker & Dunlop team in arranging the 10-year loan with a 30-year amortization schedule under the Fannie Mae DUS ERL Loan Program. Dave Susank of Johnson Capital's Irvine, Calif., office originated the loan. The property was 90 percent leased at the time of closing and features a fitness center, business center, conference room, game room, pet park, attached/detached garages, carports and two swimming pools.

December 5, 2011

Office Texas

SM ENERGY CO. LEASES 52,389 SQUARE FEET AT ONE ELDRIDGE PLACE

by admin December 5, 2011

HOUSTON — SM Energy Co. has leased 52,389 square feet of office space at One Eldridge Place, located at 777 N. Eldridge Pkwy. in Houston. The energy firm currently occupies 30,000 square feet at the property and is expected to move into its new space in the second quarter of 2012. Jim Arket and Mona Williams of Grubb & Ellis' Houston office represented the tenant in the lease transaction. John Pruitt of CBRE's Houston office represented the property owner, Behringer Harvard.

December 5, 2011

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