NEW BRAUNFELS, TEXAS — A 14-screen Starplex Cinemas will open late this year at the 400-acre New Braunfels Town Center at Creekside, according to NewQuest Properties. The property will be located in the interchange of Interstate 35 and Loop 306 in New Braunfels. Cinema features include Real D 3-D digital projection, stadium seating and a full concession area.
CORPUS CHRISTI, TEXAS — Trademark Property is nearing the completion of a $50 million renovation to La Palmera, a 40-year-old mall in Corpus Christi. The work includes a 600-seat food court, the upgraded Outdoor Lifestyle Court and a new Center Court. The renovation began in July 2008, and since that time, 19 new leases and 29 lease renewals have been signed. The newest tenants include Ulta, which will occupy a 9,800-square-foot store, and a 700-square-foot Wendy's, which will operate in the food court.
GARLAND, TEXAS — Goodman Distribution has signed a 29,955-square-foot lease with Northwestern Mutual Life Insurance Co. for industrial space in the Gateway East Business Center. The property, the 294,940-square-foot Building II, is located at 4009 Distribution Drive in Garland. The tenant will move into the new space in early May. Stream Realty Partners' Damian Rivera, Seth Koschak and Blake Kendrick represented the tenant. Chris Stout and Susan Singer of Bradford Commercial Real Estate Services represented the landlord.
AUSTIN, TEXAS — Simon Property Group has completed the second phase of development for the 304-acre Domain, an Austin mixed-use project located on property formerly owned by IBM. The phase, known as Domain II, is anchored by Dillard's and Dick's Sporting Goods. The Beck Group of Dallas designed the property's retail and office space and served as general contractor. The first phase, which opened in 2007, is anchored by Neiman Marcus.
IRVING, TEXAS — Marcus & Millichap has brokered the sale of a 7,225-square-foot retail building between two private parties for $1.48 million. The property, located at 444 N. O'Connor Road in Irving, is net-leased to O'Reilly Auto Parts, the third-largest auto parts dealer in the country. William Bennett, Gino Lollio and Andy Gallas of Marcus & Millichap represented the seller. Timothy Speck also helped close the deal.
FRISCO — Behringer Harvard Opportunity REIT I and Fairways Frisco are developing a 12-screen Cinemark movie theater at the Frisco Square mixed-use project in Frisco. The Cinemark property will be located on Frisco Square Boulevard. Features of the theater include a Cinemark XD: Extreme Digital Cinema auditorium, stadium seating and a self-serve concession stand.
TAYLOR, TEXAS — The City of Taylor Park Foundation will hold a ribbon cutting on Saturday for a 74.86-acre park and athletic complex. The park is located at 210 N. Carlos G. Parker Blvd. in Taylor. The property, which was purchased from Williamson County in 2005, features athletic fields, concession areas, restrooms and a nature area.
ARLINGTON, TEXAS — CompUSA Retail has leased 25,000 square feet from Diana Arlington LP. The property is located in the former Bassett Furniture building at 1600 Interstate 20 West. John Mathes and Terry Syler of The Retail Connection and Ed Schmidt of NAI Miami brokered the transaction.
SHERMAN, TEXAS — As part of a company-wide reorganization, The J.M. Smucker Co. will close its coffee plant in Sherman. Smucker's $190 million restructuring includes $90 million in non-cash changes. The plan also includes $150 million in capital investment in a new Orrville, Ohio, facility and upgrades to its Ripon, Wis., plant. A fruit spread plant in Memphis, Tenn., and a coffee plant in Kansas City will also be shuttered.
HOUSTON — DI Distribution has signed a 7,500-square-foot warehouse lease with BCO North Freeway in Houston. The property is located at 6831 Fulton St. Insite Realty Partners' Steve Hazel represented the landlord in the lease. Darren O'Connor of NAI Houston represented the tenant.