FRIENDSWOOD, TEXAS — CHASE Bank has broken ground in Friendswood on a new location, its third branch in the city. Located at 255 W. Parkwood Ave., the new store will span 4,200 square feet and will house nine workers. Delivery is slated for this fall. Armed with a $15,000 economic incentive grant, HomeTown Bank is developing a 7,864-square-foot branch in the Friendswood Village Shopping Center. The $1.6 million property, located at 600 S. Friendswood Drive in Friendswood, will be built on 0.96 acres of land. When complete, the bank will occupy 4,779 square feet and lease the remainder of the building to another party.
Texas
AUSTIN, TEXAS — Los Angeles-based Post Investment Group has purchased the 370-unit University Heights apartment complex from GCCFC 2005-GG5 for an undisclosed amount. The property, located at 2000 and 2101 Burton Drive in Austin, features a business center, a fitness center, two pools and sports courts. New York-based Hudson Realty Capital provided funding for the purchase. Hendricks & Partners' Ellen Muskin and George Deuillet, III, represented the seller.
LA PORTE, TEXAS — The joint venture between ML Realty Partners and National Property Holdings has tapped Colliers International to lease and market Port Crossing Commerce Center, a 300-acre logistics park being constructed in La Porte. Planned buildings will eventually encompass 4 million square feet of new warehouse space. The site is designated as a foreign trade zone and features rail access. Colliers International's Michael J. Taetz, Gary A. Mabray and Jason Dillee are handling the project.
LUBBOCK, TEXAS — Marcus & Millichap has brokered the sale of the 124-unit Lubbock Square apartment complex in Lubbock between a court-appointed receiver and an undisclosed buyer. The property, which was built in the mid-'70s, is composed of 15 buildings spread across 5.44 acres of land. The firm's Tommy Lovell arranged the transaction.
DALLAS AND GRAND PRAIRIE, TEXAS — Leo A Daly will design Grand Prairie Clinic and Maple Family Center Replacement for the Parkland Health & Hospital System in Grand Prairie and Dallas, respectively. The freestanding Grand Prairie clinic will span 35,000 square feet and will be built on the site of a former police station. The 60,000-square-foot Dallas project will include space for primary and preventative care services as well as office space for physicians.
CORPUS CHRISTI, TEXAS — A&W has purchased the former Wilcox Furniture store from the Wilcox family for an undisclosed price. Located at 5933 S. Padre Island Drive in Corpus Christi, the property includes a 30,000-square-foot retail building and a 14,000-square-foot warehouse. Wilcox Furniture relocated from the site in 2007. Transwestern represented the buyer, and NAI Cravey's Lynann Pinkham represented the seller.
MCKINNEY, TEXAS — KDC will develop and market the 160-acre corporate district of the 250-acre Craig Ranch employment district. Valued at $364 million, the corporate district is located on State Highway 121 near the North Texas Tollway in McKinney. The firm is targeting tenants looking for a build-to-suit space for either new corporate headquarters or a relocation. Craig Ranch also contains a 90-acre medical district; 45 percent of that space has already been reserved by The Cooper Fitness Center & Spa, Cooper Clinic, The Hospital at Craig Ranch and Tuscarora.
HOUSTON — Skanska USA Building will start construction in August on a $42 million expansion for Harris County Hospital District at Holly Hall Hospital in Houston. The firm will build a 52,000-square-foot, five-story building that will house radiation therapy and diagnostic imaging services. Delivery is slated for July 2012.
DALLAS — USAA Real Estate Co. has purchased The Mondrian at CityPlace, a mixed-use property in Dallas, from ZOM Cityplace for an undisclosed amount. The 5-year-old, transit-oriented development, which is located at 3000 Blackburn St., contains 218 apartment units and 19,497 square feet of retail space. The street-level retail space is populated by Med-Health, Toscana Pizza, The Cupcake Factory and others. Apartment amenities include a wireless cyber café and a resort-style pool.
LAKEWAY, TEXAS — Walker & Dunlop has secured a $167 million construction loan for the planned 270,427-square-foot Lakeway Regional Medical Center in Lakeway. The HUD loan was underwritten at a 90 percent loan-to-cost rate and carries a 25-year amortization schedule. When complete, the property will feature a 52,071-square-foot parking garage, emergency rooms, diagnostic imaging areas and space for a full array of healthcare services.