PEARLAND — Houston-based Kelsey-Seybold has been chosen to build a 170,000-square-foot office building on an 18-acre site on the corner of Kirby Drive and Shadow Creek Parkway in Shadow Creek Ranch, a submarket of Pearland. The healthcare organization worked with the Pearland Economic Development Corp. for the building's development. The four-story building is being designed by Houston-based Powers Brown Architecture and will be constructed by E.E. Reed Construction. The new facility will serve as Kelsey-Seybold's administrative offices and is slated for completion in 18 months.
DENTON — The University of North Texas has acquired the 117,000-square-foot Woodhill Square, a multi-building office complex located at the intersection of Dallas Drive and Teasley Lane in Denton. The school will occupy approximately 30,000 square feet, and eventually the school will occupy the complex in phases. Teri Dorazil of CBRE's Dallas office represented the buyer in the transaction. The undisclosed seller was self-represented.
BASTROP — Plano-based Rent-A-Center has opened a 6,000-square-foot showroom, located at 67 Loop 150 W. in Bastrop. The new store marks the business' 281st location in Texas. San Antonio-based GLM Construction built the store, which was designed by Dallas-based Dimension Group.
HOUSTON AND OKLAHOMA CITY — Chicago-based Harrison Street Real Estate Capital has acquired an eight-property senior housing portfolio, with properties in Texas and Oklahoma, from E-Quest Management for $125 million in an off-market transaction. Harrison Street's partners, Houston-based Bridgewood Property Co., will manage the portfolio, which includes Village on the Park – Houston; Village on the Park – Friendswood; Village on the Park – Oklahoma City; Carriage Inn – Conroe; Carriage Inn – Bryan; Carriage Inn – Lake Jackson; Carriage Inn – Huntsville and Carriage Inn – Katy.
TEXAS — Murfreesboro, Tenn.-based National Health Investors has completed a $49.8 million sale-leaseback transaction with Legend Healthcare for four skilled nursing facilities in Texas, which are leased to Legend for 15 years. Legend has the option to purchase the facilities after 7 years.
HOUSTON — Los Angeles-based Pacific Retail Capital Partners has committed $24 million for the redevelopment of its 1.07 million-square-foot West Oaks Mall, located at 1000 West Oaks Mall in Houston. The redevelopment includes a new grand entrance, lighting and furniture upgrades, a new pedestrian plaza, the addition of a 14-screen Edwards Theatre and several new restaurants. The redevelopment is slated for a fall 2012 completion.
DEL RIO — McShane Construction has commenced construction on the 48-unit Las Brisas Manor Senior, an independent living facility, on behalf of the developer, The Paces Foundation. The 60,229-square-foot property will feature a brick exterior and individual porches and balconies. Martin Riley Associates – Architects is designing the facility to achieve Green Built Texas designation. Funding for the project came from the Texas Department of Housing and Community Affairs through its HOME Investment Partnerships Program. The facility is slated for a June 2012 completion.
WINDCREST — Whitestone REIT has signed SKECHERS USA to a 10,000-square-foot lease for a new outlet store inside the Windsor Park Centre, a shopping center located at 8610 Fourwinds Dr. in Windcrest. Other tenants in the center include The University of Phoenix, Michaels, Cavender's Boot City, Office Depot and PetSmart. Ross Dress for Less and Mattress FIRM are expected to be open for business in the center during 2012. Whitestone REIT was self-represented by Dan Nixon and Richard Vaughan in the lease transaction. Leslie Mayer of Cushman & Wakefield's Los Angeles office and Gene Williams of The Weitzman Group's San Antonio office represented the tenant.
FORT WORTH — Global Income Trust has purchased the 164,000-square-foot Heritage Commons IV, a Class A office building located in Fort Worth in the AllianceTexas master planned development, for $31 million. The property is fully leased to Mercedes-Benz Financial Services USA. Global Income Trust is sponsored by CNL Financial Group.
RICHARDSON — Franklin Street Properties Corp. has purchased the 122,300-square-foot AT&T Services Building, an office building located at 1410 Renner Rd. in Richardson. The property is fully leased to AT&T Services through 2018 and is a part of the Richardson Telecom Corridor. The property also has two subtenants — Stewart Title of North Texas and The Dallas Morning News, owned by A.H. Belo. Gary Carr, Eric Mackey and Russell Ingrum of CBRE's Dallas office represented the seller, LBA Realty, in the transaction.