HOUSTON — The Westin Memorial City is officially opening this week on March 24. Bounded by Interstate 10 and Gessner Road in Houston, the 570,000-square-foot hotel features 267 guest rooms including 25 suites; more than 30,000 square feet of meeting and banquet space; and an 18th floor infinity pool with panoramic views of Houston's skyline. The hotel also features the Trattoria II Mulino restaurant from the creators of II Mulino New York in New York's West Village. The Westin Houston Memorial City is the Westin brand's third property in Houston and is part of the Memorial City Complex featuring three Starwood brands, which include the Four Points Houston Memorial City and the Sheraton Houston West.
DESOTO — DeSoto Economic Development Corp. has acquired 18.74 acres located at the southwest corner of East Danieldale Road and Kestrel Avenue in DeSoto. The land will be used for development of a new heliport, suitable only for use by helicopters. According the city's plans, the heliport will service privately and commercial-owned helicopters. Initial construction and opening date are to be determined. Daniel Harris of Henry S. Miller Brokerage represented DeSoto Economic Corp. in the transaction. Representing the land's previous owner, Mahan Investment, was Jim Struble of NAI Robert Lynn.
HOUSTON — A two-story, 31,926-square-foot office building located at 1075 Kingwood Dr. in Houston has sold for an undisclosed amount. Brookfield Real Estate Opportunity Fund, a division of Brookfield Asset Management, sold the property Eminent Realty Development Group. The office property sits on a 3.86-acre site at the entrance to the Kingwood master-planned community close to Highway 59 and the George Bush Intercontinental Airport in northeast Houston. Renovated in 2008, the property is 91 percent leased to tenants including JPMorgan Chase, McDowell Owens and Compass Anesthesia. Dan Miller and Trent Agnew of Holliday Fenoglio Fowler (HFF) represented Brookfield in the transaction.
DALLAS AND SAN ANTONIO — Dallas-based Peloton Commercial Real Estate and San Antonio-based Cambridge Realty Group (CRG) have merged under Peloton Commercial Real Estate. During the next 60 days, CRG will transition to the Peloton brand, becoming Peloton Commercial Real Estate San Antonio. The merger will integrate property management services and allow Peloton, which provides services for more than 24 million square feet of commercial real estate in Texas, broader trend analysis.
HOUSTON — Houston-based Transwestern, a privately held commercial real estate firm active in the real estate service, development and investment management businesses, has been awarded a 2011 Energy Star Sustained Excellence Award for its commitment to operate buildings efficiently. It is the sixth consecutive such award for Transwestern, the first third-party commercial real estate services provider to be both an Energy Star Partner of the Year and a Sustained Excellence recipient.
FRISCO — Holliday Fenoglio Fowler (HFF) has arranged $22.3 million in financing for La Valencia at Starwood, a 270-unit multifamily community located at 6805 Lebanon Rd. along Dallas North Tollway within the Starwood master-planned development in Frisco. Completed in 2009, the property was awarded the Green Multifamily Project of the Year from the National Association of Home Builders. La Valencia at Starwood is 95 percent leased and has one-, two- and three-bedroom units ranging from 744 to 1,450 square feet. Community amenities include a business center, a resort-style pool, a fitness center and a gated entry. Kevin MacKenzie led the HFF team representing the borrower.
KATY AND HOUSTON — Tan Duc Construction Co. Ltd. has sold 21.6 acres of land, located on Clay Road in Katy, to Bear Creek RV L.P. Jearald Dyer of Grubb & Ellis represented Tan Duc in the transaction, while Paul Grohman of Gromax Development LLC represented Bear Creek RV. In addition, Marhaba Partners L.P. sold 5.6 acres of land at Spring Trace, located at the intersection of Beltway 8 and Lake Houston Parkway in Houston, to the Texas Bay Area Credit Union. Matthew Herring and Bill Heavin of Grubb & Ellis represented Marhaba Partners, while Gregory S. Williams of Qualified Properties represented the Texas Bay Area Credit Union.
PITTSBURG, TEXAS — Philadelphia-based Binswanger has been named the exclusive agent by Pilgrim's Pride Corp. for the sale of a five-story, 175,000-square-foot corporate headquarters building on approximately 53 acres located at 4845 U.S. Hwy. 271 in Pittsburg. Amenities include six meeting rooms wired for video and conferencing, and one meeting room designed to accommodate 265 people. The property is located close to Interstate 30, which provides access to the Dallas/Fort Worth International Airport.
FRISCO — Holliday Fenoglio Fowler (HFF) has arranged a $43.1 million refinancing for a three-property, 375,694-square-foot office portfolio within the Hall Office Park in Frisco. HFF worked exclusively on behalf of the borrower, Hall Financial Group, to secure a 10-year, fixed-rate loan through Deutsche Bank Securities, Inc. Situated within Hall Office Park, the three properties are located at 2600 Network Blvd., and 3000 and 3211 Internet Blvd. Whitaker Johnson and Steve Heldenfels led the HFF team that represented Hall Financial Group.
HOUSTON — Francois Le of Marcus & Millichap has facilitated the sale of a 3,500-square-foot AT&T Wireless store located at 6900 Southwest Fwy. in Houston. Le represented the seller, a limited liability company, and Ryan Gonzalez and Kevin King of Marcus & Millichap represented the buyer, also a limited liability company. The retail property is situated on 16,983 square feet of land and was listed for $1.1 million.