DALLAS — Dallas-based Stan Johnson Co. has sold a retail property housing Chase Bank, located at 4709 Ross Ave. in Dallas, for $1.8 million to an international investor. Brett Butler of Stan Johnson Co. represented the company, while Tom Roth of Strategic Retail Advisors represented the buyer in the sale.
Texas
PFLUGERVILLE — St. David's HealthCare is working to develop a free-standing emergency care property that will feature 12 treatment beds and lab space. The facility will be located in Pflugerville's Stone Hill Town Center at the intersection of Texas 130 and Texas 45. Delivery is expected in early 2012. St. David's is developing another emergency property in Bee Cave, which will open early next year.
AMARILLO — Ryan Companies US has begun construction on a 115,000-sqaure-foot development facility for Alstom Wind in Amarillo. The 19-acre property, which was designed to achieve LEED certification, is expected to be online next year. The firm will staff the property, which will serve as its North American manufacturing hub, with 275 workers.
LAS COLINAS — Trademark Property Co. has begun a planning and feasibility analysis for FRAM Building Group and Hunt Real Estate Partners concerning a 27-acre tract of land in Las Colinas. FRAM and Hunt are hoping to develop a mixed-use property called North Shore on the land, which is located at the intersection of Las Colinas Boulevard and SH 348. In addition to commercial properties, the project will include a rail station.
BRYAN — Turner Construction Co. has completed a 140,000-square-foot expansion to the Brazos Country Jail. The $45 million project added three detention clusters and capacity for 684 more beds to the Bryan jail. The firm also updated the security system.
HOUSTON — Mustang Engineering has renewed its 248,872-square-foot office lease for space in Ten West Corporate Center II with a private real estate fund. The property, which is located at 17404 Katy Freeway in Houston, was recently purchased by CORE Real Estate and a group advised by Prudential Real Estate Investors. CB Richard Ellis' Steve Hesse and Sanford Criner represented the tenant in the transaction. Joel DeSpain Commercial Real Estate Services' Joel DeSpain represented the landlord.
SAN ANTONIO — Marcus & Millichap has brokered the sale of a 130-unit apartment complex between two undisclosed parties. The 107,952-square-foot Meadow Run, which was built in 1970, is located at 5347 Blanco Road in San Antonio. The firm's Moses Siller and Ryan Eric Epstein represented the seller. Siller also represented the buyer.
HOUSTON — New Tuscany Development has borrowed a $4.8 million loan for the 26,355-square-foot West University Corner. The shopping center, which is anchored by Walgreens, is located near Rice University at 5220 – 5280 Buffalo Speedway in Houston. Nationwide Life Insurance Co. funded the 15-year loan, which retired a maturing CMBS loan. Colby Mueck of Holliday Fenoglio Fowler secured the financing.
COLLEGE STATION — JER Partners has sold the 303-room Hilton College Station to an affiliate of Encore Enterprises for an undisclosed amount. Located at 801 University Drive East, the property includes more than 28,000 square feet of meeting space. The seller has made more than $3 million in improvements to the property since 2004, and the buyer is planning a comprehensive renovation.
SAN ANTONIO — Inland Western REIT has borrowed a $39 million loan from Nationwide Insurance Co. for the Huebner Oaks shopping center. The 287,000-square-foot property is located on 30 acres at 11745 Interstate 10 West in San Antonio. Huebner Oaks is 95 percent leased to tenants including Borders, Ross Dress for Less, Old Navy and Banana Republic. Kevin MacKenzie of Holliday Fenoglio Fowler secured the 5-year loan.