Texas

CAPSTAR SELLS BLUFFVIEW TOWERS OFFICE PROPERTY IN DALLAS

by admin April 5, 2011

DALLAS — CAPSTAR Real Estate Advisors, a privately held real estate operating company, along with an institutional partner, has sold Bluffview Towers, a two-building, 196,356-square-foot Class A office complex in Dallas. Commercial Developments International (CDI) purchased the towers, located at 3860 and 3890 Northwest Hwy. The property's East Tower encompasses 126,132 square feet over seven stories and the West Tower totals 70,224 square feet throughout four stories. Renovated in 2009, the property is 96 percent leased to tenants including GSA, Inland American, Sewell, HEB Grocery and Atrium Cos. Holliday Fenoglio Fowler (HFF) marketed the property on behalf of CAPSTAR.

April 5, 2011

ARA BROKERS SALE OF 160-UNIT COMPLEX IN KILLEEN

by admin April 5, 2011

KILLEEN — Atlanta-based ARA, a full-service investment advisory brokerage firm, has arranged the sale of the Arbors of Killeen Apartments in Killeen. Kelly Witherspoon and Jeff Patterson of ARA's secondary markets team in Austin represented the seller, an Arlington-based private investor. Place Properties, an Atlanta-based national investment group, purchased the multifamily property for an undisclosed price. Arbors of Killeen is located at 2801 O.W. Curry Dr. in Killeen. Built in 1996, the 160-unit property offers one-, two- and three-bedroom floor plans averaging 768 square feet.

April 5, 2011

Industrial Texas

92,880-SQUARE-FOOT INDUSTRIAL BUILDING SALE

by admin April 4, 2011

DALLAS — RSW Dallas has sold a 92,880-square-foot industrial building located at 11160 Denton Dr. in Dallas to Rory Sterling, Custom Floor Service. The seller was represented by Nathan Denton, Trey Fricke and Reid Bassinger of Lee & Associates' Dallas/Fort Worth office. Clint Riley of Transwestern's Dallas office represented the buyer. The price of the sale was undisclosed.

April 4, 2011

Texas

DALLAS LAW FIRM REPRESENTS FIRST MEXICAN REAL ESTATE INVESTMENT TRUST

by admin April 4, 2011

DALLAS — The Dallas-based Thompson & Knight law firm represented Fibra Uno, a Mexican REIT. The REIT was launched in March with an initial public offering that raised 3.62 billion pesos, about $300 million U.S. dollars. Guillermo Uribe led the Thompson & Knight team, which included Adrián Gay, Jorge Gonzalez, M. Cecilia Gutierrez-Sansano, Laura Martínez and Cecilia Zaldivar.

April 4, 2011

Civic Texas

UNIVERSITY OF HOUSTON AND TIMEGATE ANNOUNCE PARTNERSHIP

by admin April 4, 2011

FORT BEND COUNTY — A partnership was announced between the University of Houston System and Fort Worth-based video game developer and publisher TimeGate. The agreement includes equipment, facility hosting, training and mentoring for student interns. The university will purchase the motion capture equipment and TimeGate will provide space and commercial talent at its Sugar Land headquarters. This will give students the opportunity to learn real-world experience while still in school.

April 4, 2011

Office Texas

CRIMSON ACQUIRES ASPEN LAKE OFFICE BUILDING IN AUSTIN

by admin April 1, 2011

AUSTIN — Crimson Real Estate Fund, L.P., and its co-investment partner, USAA Real Estate Co., have acquired the Aspen Lake office building located in northwest Austin from Wells Fargo Bank. Aspen Lake is a four-story, 205,000-square-foot Class A office building located near the intersection of U.S. Highway 183 and State Highway 45. Leasing services will be provided by AQUILA Commercial, LLC, under the direction of Crimson Services, LLC, an affiliate of Crimson Real Estate Advisors, L.P. Crimson Services will also provide property management services.

April 1, 2011

Retail Texas

SUNDANCE CINEMAS TO OPEN THEATRE AT HOUSTON'S BAYOU PLACE

by admin April 1, 2011

HOUSTON — Sundance Cinemas, The Cordish Companies and the City of Houston have announced that a lease has been signed for the former Angelika center space at Bayou Place in the theatre district of downtown Houston. Sundance expects extensive refurbishment work to begin immediately on the eight-screen complex with a target opening date set for November. Sundance Cinemas Houston will offer specialized film programming culled from film festivals and the best in general release. The venue will offer drinking and dining, all reserved seating, digital stereo sound and presentation, filmmaker screenings and exclusive events. Sundance Cinemas Houston will be the third of its kind, joining Sundance Cinemas in San Francisco and Madison, Wisc.

April 1, 2011

Industrial Texas

CATERPILLAR OPENS PRECISION MANUFACTURING CENTER IN WACO

by admin April 1, 2011

WACO — Caterpillar Inc., the world's leading manufacturer of construction and mining equipment, has opened a precision manufacturing center for hydrochemical work tool production at its Waco campus. The new facility, which spans 75,000 square feet, began operations earlier this year and will employ approximately 60 people when fully staffed and at full capacity. The facility is the fourth new Caterpillar location to open in Waco since 2005.

April 1, 2011

Retail Texas

CINEMARK AGRESS TO PURCHASE 10 ACRES FOR ITS NEXTGEN CONCEPT

by admin March 31, 2011

FORT WORTH — Cinemark Holdings, Inc., a motion picture exhibitor, has plans to construct a 14-screen, all-digital movie theater that will feature its Cinemark NextGen design concept in Presidio Junction, located eight miles north of downtown Fort Worth. Presidio Junction is a 300-acre master-planned, mixed-use development by LNR Property LLC located at the intersections of Interstate 35 West, SH 287 and North Tarrant Parkway. Cinemark Holdings purchased 10 acres within the property to build the Cinemark NextGen theater, which is scheduled to open in time for the 2012 summer movie season. All of the stadium-seated auditoriums will offer a state-of-the-art viewing environment with wall-to-wall screens, complete digital projection and digital surround sound. Marc Marrocco, Brian Glaser and Herb Weitzman of The Weitzman Group and Jay Jostrand of Graco negotiated the transaction between Cinemark Holdings and LNR Property.

March 31, 2011

Civic Texas

TWO DALLAS SCHOOLS TO UNDERGO RENOVATIONS

by admin March 31, 2011

DALLAS — North Dallas High School and Sam Houston Elementary School, both in the Dallas Independent School District, will undergo renovation projects. North Dallas High School will replace an existing annex building with a new single-story addition that will house science classrooms. The project also involves replacement and upgrades to mechanical and electrical systems, updating existing restrooms and replacement of pneumatic controls on the second and third floors with direct digital controls (DDCs). Meanwhile, Sam Houston Elementary School will replace and upgrade lighting, mechanical and electrical systems, update existing restrooms and replace pneumatic controls with DDCs. Warrior Group, a Dallas-based general contractor, will provide construction management services for both schools. Construction is scheduled to begin in April, with a completion date set for April 2012.

March 31, 2011

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