Texas

MCSHANE TO DEVELOP VETERANS AFFAIRS SPECIALTY OUTPATIENT CLINIC

by admin December 17, 2010

CORPUS CHRISTI — McShane Development Co. has been selected by the U.S. Department of Veterans Affairs for the development of its new 32,950-square-foot Corpus Christi Veterans Affairs Specialty Care Outpatient Clinic, located at Bear Lane and South Padre Island Drive within the 100 South Padre Island Business Park in Corpus Christi. The single-story medical facility will enhance services already provided at the existing Corpus Christi Outpatient Clinic at 5283 Old Brownsville Rd. Groundbreaking for the new clinic will take place in spring 2011 with completion slated for May 2012, and it will be designed and constructed to meet LEED Silver standards. The design-build team for the medical facility consists of Cadence McShane Construction Co. and Rees Associates, Inc.

December 17, 2010

NATURE'S BEST TAKES DISTRIBUTION SPACE IN FLOWER MOUND

by admin December 17, 2010

FLOWER MOUND — Nature's Best has leased a 308,000-square-foot distribution center in Lakeside Trade Center at 101 Enterprise Dr. in Flower Mound. The long-term lease at Lakeside Trade Center Building 5 will feature approximately 35,000 square feet of freezer/cooler space. Nature's Best will model the facility after the recent relocation of its main distribution center in Chino, Calif., where the company completed an expansion into a 410,000-square-foot LEED Gold certified building. Nature's Best plans to begin serving retailers throughout Texas from the Flower Mound distribution facility in late spring 2011.

December 17, 2010

Multifamily Texas

PUBLIC-PRIVATE PARTNERSHIP TO PRESERVE AFFORDABLE HOUSING

by admin December 16, 2010

OKLAHOMA CITY, OKLA. — The John D. and Catherine T. MacArthur Foundation is providing a $20 million guaranty in connection with a public-private partnership aimed at the preservation of federally subsidized rental housing in underserved markets nationwide. The partnership's goal is to attract $100 million for non-profit developers working to preserve and renovate approximately 20 rental properties nationwide serving more than 2,000 low-income families and seniors. As part of the public-private partnership, The National Affordable Housing Trust (NAHT) and Cornerstone Real Estate Advisors jointly closed an investment fund through the federal Low-Income Housing Tax Credit. Investors in the fund include JPMorgan Chase, Massachusetts Mutual Life Insurance Co., MetLife and UnitedBank. As part of the program, the 100-unit Southwoods Apartments in Oklahoma City will be renovated and managed by Volunteers of America. In addition to energy efficiency upgrades, a new wireless emergency call system will be installed to ensure the safety of the building's senior residents. Other residential properties receiving upgrades through the partnership include Nicollet Towers in Minneapolis, Millard Manor in Omaha, Neb., and Renaissance Senior Apartments in Toledo, Ohio.

December 16, 2010

Multifamily Texas

NORTHMARQ ARRANGES $10.1 MILLION MORTGAGE FOR CREEKVIEW APARTMENTS

by admin December 16, 2010

DALLAS — Greg Duvall of NorthMarq Capital's Kansas City office has arranged first mortgage financing of $10.1 million for Creekview Apartments, located at 14255 Preston Rd. in Dallas. The 240-unit apartment complex was serviced through NorthMarq's Seller-Servicer relationship with Freddie Mac. The deal was a refinancing of an existing Freddie Mac loan.

December 16, 2010

Industrial Texas

$6.5 MILLION MORTGAGE ARRANGED FOR ASHLEY FURNITURE DISTRIBUTION FACILITY

by admin December 16, 2010

NEW BRAUNFELS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged permanent financing for a 217,500-square-foot warehouse and distribution facility for Ashley Furniture in New Braunfels. A $6.53 million permanent fixed-rate mortgage was arranged on behalf of a partnership controlled by the principals of Hill County Furniture Partners, an Ashley Furniture franchisee. Hill County Furniture Partners occupies 100 percent of the facility, which supports retail stores throughout central and south Texas. MCA's Scott Lynn and Sunny Sajnani placed the 20-year mortgage with an Oklahoma bank, where it is guaranteed under the United States Department of Agriculture (USDA) Rural Development Business and Industry Loan Program. Greg O'Donnell of Business Finance & Development worked with MCA to help secure the USDA loan guarantee.

December 16, 2010

Hospitality Texas

XE HOSPITALITY PURCHASES LAND FOR HILTON GARDEN INN

by admin December 15, 2010

SAN ANTONIO — Houston-based XE Hospitality, represented by JJ Williams and Jason Brumm of Grubb & Ellis, has purchased 3 acres of land in northwest San Antonio from Thomas Enterprises. The company intends to use the land to develop a Hilton Garden Inn. The hotel calls for 130 rooms and 3,000 square feet of meeting space and is expected to be completed in the third quarter of 2012. It is located in The Rim, a master-planned, 2 million-square-foot, mixed-use center developed by Thomas Enterprises at the intersection of Interstate 10 and La Cantera Parkway.

December 15, 2010

Industrial Texas

SPORT SUPPLY GROUP INKS 137,000 SF OFFICE/WAREHOUSE RENEWAL

by admin December 15, 2010

FARMERS BRANCH — Sport Supply Group has signed a long-term renewal for a 137,670-square-foot office/warehouse space in Valwood Industrial Park in Farmers Branch. Sport Supply Group was represented by David Wetherington and Bill De La Chapelle of Transwestern's Dallas office, while Brian Pafford of Bradford Commercial Real Estate Services represented the Chicago-based asset manager for the property. Sport Supply Group was given a tenant allowance that will be applied to cosmetic upgrades to its 35,000-square-foot office space.

December 15, 2010

Industrial Texas

LUBBOCK TO WELCOME HIGH-VOLUME SOLID STATE BATTERY FACILITY

by admin December 15, 2010

LUBBOCK — Cymbet Corp. and X-FAB Texas have reached an agreement to open the world's highest volume solid state battery (SSB) production facility in Lubbock. Cymbet provides solid-state energy storage solutions for microelectronic systems, and X-FAB provides expertise in advanced analog and mixed-signal process technologies. The new Cymbet facility will be integrated with X-FAB's Lubbock facility, and is projected to add 77 new jobs during the next 5 years. Production will begin in the second quarter of 2011.

December 15, 2010

Office Texas

CAMERON INTERNATIONAL RENEWS 75,000 SF OF OFFICE SPACE IN HOUSTON

by admin December 14, 2010

HOUSTON — Cameron International Co., which provides flow equipment products, systems and services to the oil, gas and process industries, has signed a 75,467-square-foot office space lease renewal with an extended 10-year term at Park Towers South in Houston. Located at 1333 W. Loop South in Houston's Post Oak Park submarket, the office space serves as Cameron's headquarters. Charles Gordon and Michael Sieger of CB Richard Ellis represented Cameron, while Steven Seltzer of TPMC Realty Corp. represented the landlord, Post Oak Realty Investment Partners, LP.

December 14, 2010

Mixed-Use Texas

HOUSTON PAVILIONS TO WELCOME SCOTT GERTNER'S

by admin December 14, 2010

HOUSTON — Houston Pavilions, a mixed-use development in downtown Houston, has announced that an entertainment venue with a Houston past will reopen its doors there. Scott Gertner's Skybar closed its doors this past July and will be reinvented as Scott Gertner's at Houston Pavilions, opening in March 2011. The venue will complement the existing tenants including the House of Blues, Lucky Strike Lanes & Lounge and Pete's Dueling Piano Bar. Scott Gertner's at Houston Pavilion will be designed as a bi-level venue with approximately 8,200 square feet of space in the main area and a 3,500-square-foot rooftop deck.

December 14, 2010

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