HOUSTON — Duke Realty Corp. has leased 80,200 square feet in Westland II, a warehouse and distribution building, to Berlin Packaging LLC, which will expand and relocate there in June. With Berlin Packaging's lease, Westland II, a 300,000-square-foot, cross-dock industrial building, will be more than 73 percent leased. Westland II is Duke Realty's second building within Westland Business Park, located just south of Highway 290 at the West Road/Eldridge Parkway exit, approximately 2 miles west of the Sam Houston Tollway. Duke Realty began development of the speculative building in this past October when another tenant outgrew its space in Westland I. Jeff Venghaus of Jones Lang LaSalle's Houston office and Chris Watts of its Chicago office represented Berlin Packaging, while Cory Driskill represented Duke Realty in-house.
DALLAS — Durham, N.C.-based Rosemont Realty has acquired two Class A high-rise office buildings in Dallas — Eighty-Eighty Central and 9400 North Central Expressway. Eighty-Eighty Central is a 17-story, 290,921-square-foot Class A office building located in the heart of the Dallas North Central Expressway, while 9400 North Central Expressway is a 16-story Class A office tower situated on more than 5 acres on Central Expressway, between Park and Walnut Hill lanes. Los Angeles-based Younan Properties sold the two office buildings.
HOUSTON — Northchase Plaza I, a 12,560-square-foot retail property located at 13626 Veterans Memorial Dr. in Houston, has changed hands. James Bell of Marcus & Millichap's Houston office represented the seller, which listed the property at $1.8 million. Meanwhile, Justin Miller, also of Marcus & Millichap's Houston office, represented the buyer. The property was built in 2004 and sits on 43,650 square feet of land.
HOUSTON — De La Vega Capital has acquired Gulfgate Square in Houston for an undisclosed price. Situated on a 7.4-acre site at 6800 Gulf Freeway, the 78,690-square-foot shopping center is occupied by Office Depot, Conn's, Radio Shack, Subway, Whataburger and IHOP. Rusty Tamlyn and Trent Agnew of Holliday Fenoglio Fowler represented the seller, Moody Rambin Interests, in the transaction.
COLLEGE STATION — NorthMarq Capital has arranged $2.55 million in first mortgage financing for Meridian Apartments in College Station. Located at 309 Redmond Dr., the property offers 109 apartment units. Welsey Okten of NorthMarq's Dallas Regional office arranged the financing for the borrower, an international client, through NorthMarq's relationship with North American Savings Bank.
HOUSTON — Shawn Lokhandwala has signed a lease for 5,000 square feet of office/warehouse space in Houston. The tenant plans to use the space, which is lcoated at 18128 Kieth Harrow, for an entertainment-related business. Gloria Parrino of Betz Commercial Brokerage represented the landlord, JAG Properties, in the transaction. Terms of the lease were not released.
LA PORTE — Meritex has acquired a two-building, warehouse portfolio in La Porte. 3Ds Porte LLC sold the 313,000-square-foot portfolio for an undisclosed price. The Class A properties range in size from 115,000 to 198,000 square feet. Additionally, Meritex acquired the rights to purchase a 13-acre land parcel located between the two buildings. The land parcel is capable of supporting an additional 150,000 square feet of warehouse development. The portfolio, which is 100 percent occupied, will be managed by Meritex. Terms of the transaction were not released.
DEER PARK — Boston Capital has invested in the construction of Providence Town Square Apartments in Deer Park. The planned 118-unit senior housing property will feature a 10,560-square-foot, three-level common area with an outdoor lap pool, a community room, a media room, a business center and an exercise room. The general partner is Providence Town Square Housing and the general contractor is Houston-based Blazer Building.
FRISCO — Costco Wholesale, an international chain of membership warehouses, will anchor the Frisco Trails Shopping Center in Frisco with a 148,000-square-foot store. Located at the southeast corner of the Dallas North Tollway and Eldorado Parkway, Frisco Trails Shopping Center is being developed by Cencor Realty Services. The center features a shadow anchor, The Home Depot, and space for an additional anchor, as well as six available pad sites for freestanding retail and restaurant uses. Costco Wholesale broke ground in early April at Frisco Trails, with a completion date set for late September. The shopping center is leased by Cencor's brokerage affiliate, The Weitzman Group.
DEER PARK — Boston Capital has invested in the construction of Providence Town Square Apartments, a to-be-built, 188-unit multifamily development for seniors located in Deer Park. Located on 6.8 acres, Providence Town Square Apartments will offer 133 one-bedroom and 55 two-bedroom units, featuring nine-foot ceilings, ceiling fans, emergency call systems, dishwashers, washer/dryer hook-ups and patios or balconies. The property will be available to seniors ages 55 and older that qualify for affordable living. Providence Town Square Housing, Ltd. is the general partner and Blazer Building is the general contractor. To date, Boston Capital has invested in more than 20,600 units of affordable housing in Texas.