DALLAS — Arbor Commercial Financing. wholly owned subsidiary of Arbor Commercial Mortgage, has funded a $1.93 million loan under the Fannie Mae DUS Multifamily Affordable Housing product line for Lake June Village Apartments, a 64-unit complex in Dallas. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6 percent. The loan was originated by John Kelly of Arbor's Boston office.
SUGARLAND, TEXAS — Sugarland-based Curtice Commercial Real Estate has joined Colliers International. Through the joint venture, the team plans to expand their services with an office in Fort Bend County, Texas. Kolbe Curtice, president of Curtice Commercial, will act as the managing director of the Fort Bend office. This expansion is part of Colliers International's global strategy to invest in and grow its platform. The firm has increased its global coverage from 290 offices to more than 480 offices worldwide.
ROANOKE, TEXAS — LEGO Systems Inc. has expanded its North American distribution center at the Alliance Global Logistics Hub with a new 560,000-square-foot location in the Alliance Gateway 60 building, a 756,000-square-foot building located at 300 Freedom Drive in Roanoke. The company currently occupies a 402,500-square-foot location in the Alliance Gateway 62 building, both of which are in the Roanoke section of the Alliance Global Logistics Hub, part of the 1,700-acre AllianceTexas development. Dan Cook of Cushman & Wakefield of Texas represented the manager of the LEGO distribution center, Exel Inc. The owner, Hillwood, was represented in-house.
HOUSTON — The Houston and Dallas offices of Holliday Fenoglio Fowler (HFF) have arranged a financial joint venture for Southwest Science Center, a 34,277-square-foot facility in Houston. Located at 4150 Interwood South Parkway, the building is fully leased to the General Services Administration, and serves as a state-of-the art forensics laboratory that was developed and constructed for U.S. Customs & Border Protection. HFF's Dan Miller, Mona Carlton and Trent Agnew represented the owner, Austin, Texas-based Live Oak Gottesman Company. Under the agreement, a private real estate group entered into a joint venture with the owner and assumed existing debt.
GARLAND, TEXAS — Allied Insulation & Supply has relocated its headquarters with the lease of 40,000 square feet of office/warehouse space in Garland. Located at 850 South Jupiter Road, the space is located within the 170,731-square-foot Jupiter Distribution Center, which also houses a distribution center for Petco. Michael Herzstein and Pete Richardson of Henry S. Miller represented Allied Insulation, while Michael Peinado of Lincoln Property Company represented the owner.
HOUSTON — Bonner Investment Properties has purchased a 48,000-square-foot building at 7905 Blankenship in Houston. The seller, Antoine Investment, was represented by Joe MacDougall of Joe MacDougall & Co. Chris Kugle, John Ferruzzo and Dustin Gillioz of NAI Houston represented the buyer.
BAYTOWN, TEXAS — Arch-Con Construction has completed construction of a Candlewood Suites for Palms LLC. The 61,000-square-foot, 96-room extended-stay hotel is located at 1020 Maxey Drive in Baytown. The hotel offers amenities such as a business center, a laundry room and a gazebo, and each room comes equipped with a kitchenette complete with a refrigerator, a microwave and a dishwasher.
LEWISVILLE, TEXAS — Pet retailer PetSmart has leased 35,106 square feet of space, occupying a former Linens 'n Things space within Vista Ridge Village, a 373,437-square-foot center in Lewisville. Steve Lieberman and David Fazio of The Retail Connection, along with Craig Wielansky of L3 Corp., represented the tenant, while Jennifer Reynolds of JenCo Realty represented the landlord, PO'B Montgomery. Terms of the lease were not released.
SUGAR LAND, TEXAS — Opening Day Partners and the Sugar Land City Council will bring a $30 million minor league baseball stadium to Sugar Land, and it will open just in time for the 2012 season. In a Letter of Intent, Opening Day says it will sign a 20-year lease on the stadium with a 10-year renewal option. While a site has yet to be selected, potential locations include the interchange of U.S. Highway 59 and University Boulevard. In the offseason, the stadium will be used for concerts and other events. Funding for the project will come from sales tax revenues and a $5 million investment from Opening Day.
CORPUS CHRISTI, TEXAS — Trademark Property is brining three new tenants to La Palmera, the $50 million renovation of Padre Staples Mall located on South Padre Island Drive in Corpus Christi. A 2,480-square-foot Coach and a 3,635-square-foot Zumiez will open this summer. A 1,000-square-foot Aveda retail store is also on tap for summer (the 15,533-square-foot Aveda Institute Corpus Christi will open this fall).
