LUBBOCK, TEXAS — Asset Plus Cos. has broken ground on the 562-bed 25Twenty student housing complex on a 3.6-acre site on the campus of Texas Tech University. The four-story property will sit adjacent to Jones AT&T Stadium. The property includes two courtyards that will feature a pool, an outdoor BBQ kitchen, a hammock area and a competition horseshoe pit. Additional amenities will include an Internet café, a business center, a theater with stadium seating, an exercise facility and tanning room, and a 9,600-square-foot clubhouse. Units will range from 571 square feet to 1,704 square feet.
LUBBOCK, TEXAS — Collegiate Construction will soon break ground on the 218-unit Retreat Lubbock at a site minutes away from Texas Tech University in Lubbock. The property is comprised of two- to five-bedroom cottages that contain a private bathroom for each bedroom. Wells Fargo Bank is providing construction debt for the $42 million project. A joint venture between Landmark Properties and Harrison Street Real Estate Capital is developing The Retreat. A fall 2011 delivery is expected.
HOUSTON — GRA-Gulf Coast Construction has broken ground on a 115,000-square-foot manufacturing facility for the wooden pallet manufacturer Neopal in Houston. The property will be located on 13 acres at the intersection of Vickery and Aldine Bender. Chris Caudill and Joel Michael of NAI Houston represented the tenant in negotiations.
HOUSTON — Marcus & Millichap has represented two private parties in the sale of the 7,232-square-foot REO: Jones Road Office Building for an undisclosed amount. The property, which was built in 1984, is located at 11850 Jones Road in Houston. The firm's Justin Miller and Nathan Pealer brokered the sale.
HOUSTON — Walton Roofing has purchased a 29,687-square-foot office and industrial property from Airgas for an undisclosed price. The property is located at 8350 Mosley Road in Houston. Chris Caudill and Joel Michael of NAI Houston represented the buyer. Holt Lunsford Commercial's Troy Collins represented Airgas.
DALLAS — NorthMarq Capital has arranged a $4 million loan for the 50,964-square-foot Lakewood Village shopping center in Dallas. Tenants at the property include IHOP and Sherwin Williams. Sun Life of Canada financed the 5-year loan, which carries a 20-year amortization schedule.
PLANO — Cadence McShane Construction Co. will soon start work on a 44,375-square-foot renovation and construction at Plano Senior High School. The Plano project, which was designed by WRA Architects, will deliver in August 2011. Cadence McShane will first demolish eight classrooms and convert the 9,375 square feet of space into four chemistry labs. The firm will also construct a two-story art classroom spanning 20,885 square feet and a pedestrian bridge to connect the new building to the existing campus. A 12,305-square-foot addition to the fine arts building and a 2,000-square-foot addition to the athletics building will also be built.
PFLUGERVILLE AND ROSENBERG, TEXAS — NewQuest Properties has leased more than 50,000 square feet of retail space in two Texas transactions. Represented by Heather Nguyen and Cullen Kappler, NewQuest leased 35,510 square feet to Panda Express. The space is located at the Stone Hill Town Center in Pflugerville. Site Source Real Estate Services' Lauren Banner represented the tenant. NewQuest, represented by Eric Walker and Anderson Smith, also leased 18,000 square feet to Goodwill. The property is located at Brazos Town Center in Rosenberg. Goodwill was represented by Barkley Wedemeyer of Wedemeyer
HOUSTON — A Houston-based developer has sold the 14,112-square-foot La Michoacana Meat Market to a private buyer for an undisclosed price. The property is located on a 73,436-square-foot parcel on Elton Road in Houston. Todd Carlson of Marcus & Millichap represented the seller.
HOUSTON — Mody Interests has sold a 12,157-square-foot retail building to Roade Properties for an undisclosed amount. The property, which is located on 25,001 square feet of land at 3012 Hillcroft in Houston, will be used as a meat market. Anastacio Sanchez of Sun Realty Texas represented the buyer. Moody Rambin Interests represented the seller.