DALLAS AND HOUSTON — CIM Group has purchased a four-property apartment portfolio totaling 820 units from Gables Residential Corp. for an undisclosed amount. Three of the properties — a 334-unit property, a 103-unit property and a 75-unit property — are located in Dallas. Also included in the sale is the 308-unit Memorial Hills complex in Houston. Gables Residential will continue its property management duties.
LEVELLAND, TEXAS — Lubbock, Texas-based Lee Lewis Construction is planning a summer groundbreaking for the $15 million Multi-Event Center. The property will sit on 152 acres in Levelland. Hockley County is developing the 155,585-square-foot project, which will include 17,340 square feet of banquet and meeting space, a 26,220-square-foot exposition hall and an 85,000-square-foot arena.
PLANO, TEXAS — IDI has sold a 283,559-square-foot warehouse to KBS Realty Advisors for an undisclosed amount. The property is located at 3801 E. Plano Parkway in Plano. CB Richard Ellis' Jack Fraker, Josh McArtor, Gary Carr and Russell Ingrum represented the seller.
HOUSTON — Cadence McShane Construction Co. will break ground on the 98,724-square-foot Patterson Elementary School in Houston for the Houston Independent School District. The $13.7 million property, which will be located at 5302 Allendale Road, is set to deliver in May 2011. The LEED Silver-registered school will encompass classrooms, a cafeteria and kitchen, a library and a basketball pavilion. Patterson Elementary School will replace an outdated facility that was built in 1958. Sustaita Architects will design the property.
WACO, TEXAS — Lillibridge and Seavest have completed the 59,000-square-foot Office Building II at Hillcrest Baptist Medical Center in Waco. The three-story property, which houses physician practices and services, is located near the Women's & Children's Center. The two companies developed the 107,000-square-foot Office Building I on the campus last year.
HOUSTON — Cadeco Industries has leased 154,114 square feet of warehouse space from EastGroup Properties in Houston's Lockwood Distribution Center. Located at 1060 Lockwood Drive, the property is close to East Interstate 10 and Loop 610. Grubb & Ellis' Doug Nicholson and John Nicholson represented the tenant. InSite Realty Partners' Rives Nolan represented the landlord.
FAIRVIEW, TEXAS — A 155,000-square-foot Dillard's location has opened as a third anchor MGHerring Group's The Village at Fairview in Fairview. The store opened in conjunction with the property's additional second-phase openings, which included A La Mode, be-dazzled, Buckle, Dallas Cowboys Pro Shop, Flower Pot, Purple Cow, Texas Memories, Toys Unique and Uptown Popcorn, among others. Eight more tenants are opening in March.
PEARLAND, TEXAS — Arch-Con Construction has broken ground on an 86-room Holiday Inn Express in Pearland. The four-story hotel is located at 1101 Highway 288. An opening has been planned for the fall.
HOUSTON — LanMac Holdings has acquired a 32,900-square-foot warehouse from Warren Avenue Holdings for an undisclosed price. The property is located on 2.75 acres at 8242 Warren Road in Houston. Colliers International's Walker Barnett represented the seller. Larry Indermuehle of Indermuehle & Co. represented LanMac Holdings.
HOUSTON — Ashley Furniture has leased 303,000 square feet of warehouse space from Panattoni Development Co. in the first phase of the firm's Airtex Industrial Center. The 486,720-square-foot, Class A property, which was completed last fall, is located at 14810 North Freeway in Houston. Ashley's lease brings the building's occupancy to 88 percent. Airtex also houses Velocity Acquisition I and Ozburn Hessey Logistics. Jeff Venghaus and Ryan Fuselier of Jones Lang LaSalle represented Ashley Furniture in the lease. Gary Mabray, Walker Barnett and Justin Bennett of Colliers Houston represented Panattoni.