HOUSTON – Suhm Spring Works, a manufacturer serving the oil and gas, petrochemical, heavy equipment, nuclear, aerospace and defense industries, has purchased 12.5 acres in the 486-acre Interwood Business Park, located at Beltway 8 and John F. Kennedy Boulevard in Houston. Suhm will consolidate its Houston operations on the site, including its headquarters operation. The company plans a 117,000-square-foot headquarters as well as a primary manufacturing and distribution center on the property, located at the intersection of Heathrow Forest Parkway and FM 525. Construction is set to begin late this year with completion slated for 2012. Phil Arnett of Phil Arnett Commercial Real Estate Services represented Suhm in the transaction. Wolff Cos. sold the land.
WAXAHACIE – Waxahachie Crossing shopping center, located near U.S. routes 287 and 77 in Waxahachie, has traded for $15.5 million. The 96,983-square-foot retail property is anchored by Best Buy, Ross Dress for Less and PetSmart. Built in 2009, its shadow anchors include JCPenney and The Home Depot. Craig Fuller and Scott Wiles of Marcus & Millichap’s Cleveland office and Erin Patton of the firm’s Columbus, Ohio office brokered the transaction. Jason Vitorino of the firm’s Dallas office also provided representation.
HOUSTON — Moran Shipping Agencies, a ship husbandry services company, has broken ground on its new three-story, 25,000-square-foot build-to-suit office building along Ronan Road in the Greenspoint district of Houston. Moran Shipping was founded in Rhode Island in 1937 and opened its Houston office in 1974. Levinson Alcoser Associates is serving as the project architect, while SpawMaxwell is serving as the general contractor.
DALLAS — McCallum Meadows, a 297-unit multifamily property located at 7760 McCallum Blvd. in Dallas, has traded. Built in 1988, McCallum Meadows includes 11 studio units, 283 one-bedrooms units and three two-bedroom units. Peter Hartnett and George Deuillet III of Hendricks & Partners represented the seller, Newport News, Va.-based Texas McCallum Meadows Partners Ltd. Saratoga, Calif.-based MMeadows Apts LLC purchased the property.
HOUSTON — The Pathway, a 144-unit multifamily community located at 2901 Elmside Dr. in west Houston, has changed hands. Craig LaFollette, Todd Stewart, Todd Matrix, Tre Banks and Chris Curry of Holliday Fengolio Fowler (HFF) marketed the property on behalf of the seller, The Milestone Group, an integrated real estate investment and management platform. Charleston, S.C.-based Hudson Capital Investments, a multifamily investment firm, purchased the property.
HOUSTON — West Oaks Mall, a 1 million-square-foot enclosed regional mall that is bounded by Highway 6, Westheimer Road and Richmond Avenue in west Houston, has reached an agreement with Regal Entertainment Group to bring a 14-screen multiplex Edwards Theatre to the property. As the entertainment anchor for the redevelopment of the mall, Edwards Theatre will reposition the mall's west wing by creating the setting for a new interactive pedestrian plaza surrounded by three new restaurants with outdoor café seating. Construction of Edwards Theatre will begin this spring with a projected opening set for fall 2012. West Oaks Mall is owned by a joint venture between New York-based Square Mile Capital Management and Los Angeles-based Pacific Retail Capital Partners. It sits on nearly 92 acres, including several perimeter retail and restaurant buildings, and is anchored by Dillard's, Macy's and Sears.
ROUND ROCK — Round Rock Honda and Round Rock Toyota, both part of Bloomfield Hills, Mich.-based Penske Automotive Group, have signed a long-term lease at Crystal Park II, located at 106 Old Settlers Blvd. in Round Rock, a suburb of Austin. The 71,150-square-foot Suite 100 in Building E will be used as a vehicle maintenance facility. Greg Johnson and Luke Wheeler of Transwestern's Austin office represented the owner, KBS Real Estate Investment Trust I, in the lease transaction, which brings the property to 92 percent occupied. Crystal Park II is a two-building, 242,452-square-foot Class A industrial property that is situated close to Interstate 35.
SAN ANTONIO — Noah's Ark Development has completed Phase I of its newest self-storage facility, Noah's Ark RV and Self Storage, located at 8465 IH-10 East near the intersection of FM 1516 in San Antonio. The property includes 268 non-temperature and temperature-controlled conventional storage units ranging in size from 25 to 300 square feet. Noah's Ark RV and Self Storage also includes 37 open parking spaces, 90 canopied spaces and 24 fully enclosed RV and boat storage units ranging in size from 360 to 540 square feet. The industrial storage property totals 36,875 square feet.
SAN ANTONIO — SHW Group, an educational architecture and engineering firm, has completed Rolling Meadows Elementary School in the Judson Independent School District, located in close proximity to Interstate 35 in San Antonio. The $14 million, 113,000-square-foot campus is the district's first sustainable designed school. Features include vented roofs designed for future rainwater collection, regionally selected construction materials, and gardens and ponds designed to educate students on the importance of the environment. The building is situated on an east/west axis for less solar heat gain and lower cooling costs; and the majority of the glass windows face north and south for optimum daylight exposure. Academically, the school is organized in a series of pods that feature six to eight classrooms clustered around a flex space used for informal gatherings and group learning opportunities. The facility currently serves 500 students but has a capacity to serve 750 students. The district expects that capacity to be reached within 2 years based on current enrollment and significant population growth in the area.
DALLAS — Net Lease Capital Advisors has acquired two Dallas medical office buildings, Northpoint I and Northpoint II, from an affiliate of Dallas-based Caddis Partners for a price exceeding $20 million. Texas Health Resources (THR), a 24-hospital conglomerate and the largest health system in the Dallas-Fort Worth area, occupies both buildings. The buildings are used for the practice management support services for THR's 700-provider physicians group, Texas Health Physicians Group. Caddis Partners will continue to provide management services for the assets. Net Lease Capital Advisors is a specialized net lease investment and advisory firm based outside of Boston.