HOUSTON — Cadence McShane Construction Co. will soon start work on the 110,160-square-foot Edgewood Elementary School for the Spring Branch Independent School District in Houston. The school will be located at the intersection of Hollister Road and Kempwood Drive. The school will span 38 classrooms, a science lab, a library, a cafeteria, a gym and music rooms. Construction was financed with a $597.1 million bond that has a term of 10 years. Delivery is slated for July 2011.
GRAND PRAIRIE, TEXAS — Consumer Product Services has leased 60,005 square feet of warehouse space from Cobalt Capital Partners in Grand Prairie. The property is located at 1001 Avenue R. Lee & Associates' Conrad Madsen and Greg Nelson represented the tenant. The firm's Donnie Rohde and Mark Graybill represented the landlord.
NEW BRAUNFELS, TEXAS — Cotton Crossing LLC has sold the 118-unit Cotton Crossing apartment complex to I&R Partners for an undisclosed amount. The property is located at 705 Village Way in New Braunfels. Built in 2003, Cotton Crossing contains a pool, a spa and a fitness center. Scott Weems and Will Caruth of Hendricks & Partners' San Antonio office represented the seller.
DALLAS — RCP Central Expressway Office Ltd. has invested $2.65 million in two Dallas office buildings located at 6060 and 6080 Central Expressway. The two properties total 270,499 square feet. The eight-story 6060 building is 82 percent leased, and 6080 is fully leased to Corinthian Colleges. The firm invested in the property at $68 per square foot, which is half of the replacement costs.
DALLAS — Cole Real Estate Investments has acquired the 206,040-square-foot AT&T Regional Headquarters office building from an undisclosed party. The purchase price was listed at $29.4 million. The Class A property, which is fully leased to AT&T, is located in Dallas' Pinnacle Business Park.
HOUSTON — Stanley Leventhal, Et Al, has sold a 4,725-square-foot office property to Alice Hiniker Sharma Marital Trust for an undisclosed amount. The building, located at 4909 Main St. in Houston's Museum District, is divided up into office, warehouse and mezzanine space. Alan Parker Properties of Houston represented the seller. Angela Villagomez of City Life Brokers represented the buyer.
KATY, TEXAS — Cole Real Estate Investments has purchased the 914,195-square-foot Igloo Distribution Facility from a private seller for an undisclosed amount. The Katy facility serves as Igloo's distribution and manufacturing facility, and corporate headquarters.
HUMBLE, TEXAS — Access Self Storage has sold an 85,125-square-foot facility to WEDGE Real Estate Holdings for an undisclosed amount. The property is located at 2115 FM 1960 in Humble. The property, which opened in November 2009, includes 585 storage units. Steve Mellon of Grubb & Ellis and Page Partners' Joshua Jacobs brokered the sale.
LIVINGSTON, TEXAS — Grubb & Ellis Healthcare REIT II has purchased the 30,000-square-foot Livingston Medical Arts Pavilion from McShane Development for an undisclosed amount. Located at 403 Ogletree Drive in Livingston, the property sits on the Memorial Medical Center's 41-acre campus. The pavilion, which was built in 2007, is fully leased. Memorial Health System of East Texas is the primary tenant.
TEXAS — Healthcare REIT has borrowed an $81.9 million loan from Deutsche Bank Berkshire Mortgage for the financing of eight skilled nursing facilities in Texas. The HUD loan is part of the LEAN program and carries a 35-year term. The properties are located in Austin, Baytown, Houston, Pasadena, San Antonio and Webster, Texas.