COPPELL — Samsung Electronics will lease an additional 130,000 square feet at Point West VII, supplementing the 261,025 square feet it leased in the building in late 2009. Build-out of the space is underway. Located at 240 Dividend Dr. in Coppell, Point West VII is Samsung Mobile's largest cell phone distribution facility in the U.S. Dave Anderson and Pat O'Keefe of CB Richard Ellis represented Samsung, while Duke Realty's Randy Wood represented Duke, the landlord.
DALLAS — One McKinney Plaza, a 15-story, 256,543-square-foot office building at 3232 McKinney Ave. in uptown Dallas, has earned its LEED for Existing Buildings (LEED-EB) certification from the U.S. Green Building Council. The owner, Gaedeke Group, has spent 1 year and $5 million in renovating the office building. The renovations included the replacement of 42 toilets with a high-efficiency design, decreasing the gallons per flush by 40 percent. The LEED-EB Operations & Maintenance rating system focuses on a building's physical systems and how it's occupied and operated by its managers.
HOUSTON — Institutional Property Advisors' (IPA) Balthrope Group has brokered the sale of AMLI City Vista, a 385,358-square-foot, mid-rise, luxury apartment complex located one mile west of downtown Houston. Koontz McCombs sold the multifamily property to AMLI Residential for an undisclosed price. Will Balthrope and Ryan Epstein of IPA's Balthrope Group were involved in the transaction.
DALLAS — The Neiman Marcus Group has expanded and extended its distribution lease in Pinnacle Park from 292,000 to 470,250 square feet of industrial space at 4121 Pinnacle Point Dr. in Dallas. The space will be utilized for Neiman Marcus' Last Call division. Corbin Crews of CB Richard Ellis represented the landlord, TR Pinnacle Corp., in the 10-year lease.
KELLER — Stephen Whitehead of NorthMarq Capital's Dallas office has arranged permanent financing of $10.95 million for Grand Estates at Keller, a 160-unit multifamily property located at 500 N. Tarrant Pkwy in Keller. Constructed in 2006, the property was 96 percent occupied at the time of financing, which was based on a 10-year term with a 30-year amortization schedule. Financing was arranged for the borrower through NorthMarq's affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.
EL PASO — CB Richard Ellis (CBRE) has opened an El Paso branch, headed by Christian Perez Giese. The office will be staffed by seven commercial real estate professionals including Rex Maingot, Anthony Mash, Chad McCleskey, Rebecca Rojas, Ivan Holguin Fernandez and Luz Moreno, formerly of Team NAFTA in El Paso. CBRE has also opened an office in Cd. Juarez, Mexico. Both offices will focus on serving local and multinational companies doing business in the border region with the acquisition, disposition and leasing of industrial property.
HOUSTON — Duke Realty Corp.'s Houston office has begun construction on Westland II, a 300,000-square-foot bulk industrial building in Westland Business Park in Houston. RAM Chemical & Supply, a pool and spa chemicals and supplies provider, will occupy 139,600 square feet. Westland II will have a clear height of 28 feet and feature 80 dock doors. Construction is expected to be completed in April 2011. Jim Thompson of Grubb & Ellis represented RAM Chemical & Supply in its lease transaction, while Cory Driskill of Duke Realty represented Duke.
HOUSTON — The Dallas and Houston offices of Holliday Fenoglio Fowler (HFF) have arranged a $19.4 million refinancing for Wynhaven at Willowbrook, a 372-unit, Class A multifamily community located at 9611 Grant St. in northwest Houston. Working on behalf of Trammell Crow Residential, HFF secured the 10-year, fixed-rate loan through Freddie Mac and will service the securitized loan through its Freddie Mac Program Plus Seller/Servicer program. Wynhaven at Willowbrook was completed in 2008 and features one- and two-bedroom units averaging 1,175 square feet each. Amenities include a resort-style lap/beach pool, resident café, club room, barbecue and picnic area, and gated access.
LEWISVILLE — Huffines Communities has begun development of Phase I of its master planned community Hebron 121 Station in Lewisville. The 90-acre, infill, mixed-use development is located near Vista Ridge Mall at the intersection of Interstate 35 East and State Highway 121, adjacent to the new Denton County Transit Authority (DCTA) Hebron rail and bus station. The initial phase includes 234 multifamily residences and is expected to be completed in late spring 2011. The $3 million development will ultimately include 1,755 multifamily units and 250,000 square feet of retail and office space.
RICHARDSON — Champion, along with investment partner Fidelity Real Estate Group, has acquired a nine-story, 234,000-square-foot Class A office building at 2600 N. Central Expressway in Richardson, known as One Telecom. It previously housed Southwestern Bell and AT&T. Renovations are planned and Peloton Commercial Real Estate has been hired as the building's leasing representative.