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.
HOUSTON — The 22-unit Avondale Apartments and its neighboring 12-unit Helena Apartments, located at 109 Avondale St. and 3001 Helena St. in Houston respectively, have sold. The assets combined for a list price of $1.1 million. Sheri Carey of Marcus & Millichap represented the seller, a private investor, while Juan Cuevas of Marcus & Millichap represented the buyer, a limited liability company.
HOUSTON — Landmark Houston Hospitality Group (LH2G) is revitalizing Scouts Square, a redevelopment of the former headquarters of the Boy Scouts of America building. Landmark will add an additional floor to the existing building as well as a full renovation and an outdoor area with a large patio and gardens. Phase I of the project, which broke ground earlier this year, will consist of 50,000 square feet of retail and office space with a seven-story parking garage. Anchor tenants will include the Moroccan themed Moor's Restaurant & Hooka Bar and Black Finn Saloon. Meanwhile, Phase II will consist of first floor retail, apartments and additional parking with a construction date slated for early 2012.
SUGAR LAND — Sugar Land Physician Partners has purchased 4.2 acres of land at the northwest corner of First Colony Boulevard and Highway 59 at 16906 Southwest Fwy. in Sugar Land from Sugar Land Properties, Inc. Construction will soon commence on a 42,022-square-foot brick veneer hospital that will be leased to Sugar Land Surgical Hospital. The hospital, scheduled for a late 2012 opening, will include four surgery suites, two procedure rooms and six patient rooms. In addition, a two-story, 30,000-square-foot medical office building will be constructed adjacent to the hospital. Browne McGregor Architects is serving as the project architect, while Mission Constructors is the contractor. Don Janssen of Planned Community Developers represented Sugar Land Properties, Inc., in its 4.2-acre sale to Sugar Land Physician Partners, which was represented by Kolbe Curtice of Colliers International.