MURPHY, TEXAS — Cadence McShane Construction Co. is gearing up to break ground on the 282,000-square-foot McMillen High School for the Plano Independent School District. The $37 million property will be located on 103 acres at 750 N. Murphy Road in Murphy. McMillen High School will encompass band and music spaces, 10 science labs, a gym, a library, a full-service cafeteria and classrooms. SHW Group designed the project. McMillen High School will be open in time for the 2011-2012 school year.
HOUSTON — Ozburn Hessey Logistics has signed a 75,000 square-foot lease with Panattoni Development Co. for space in its 486,720-square-foot Airtex Industrial Center. The property is located at 14810 North Freeway in Houston. Ryan Fuselier and John Talhelm of Jones Lang LaSalle represented the tenant. Panattoni was represented by Walker Barnett and Gary Mabray of Colliers International. Barnett and Mabray also represented Panattoni in its 54,000-square-foot lease to Velocity Express. Stephen Hemphill of Dallas-based Mohr Partners represented Velocity.
BONHAM, TEXAS — Clay Meadows of CAM Capital Co. has secured a $3.17 million loan for Red River Regional Hospital. The 25-bed property is located in Bonham. Synergy Bank funded the 25-year loan, which carries an 80 percent loan guarantee from the USDA.
SAN ANTONIO — CB Richard Ellis (CBRE) has brokered the sale of Cielo Hills, a 101-unit multifamily community located at 2819 SE Military Drive in San Antonio. The property includes one- to four-bedroom units that average 900 square feet in size. The property was foreclosed on by its original lender in 2009, and has since been managed by Greystar, which has completed capital improvements to it. Steve Monroe of CBRE's San Antonio office represented the seller, Cielo Hills SA LLC. The buyer is locally based Aristocrat Developers. The acquisition price was not disclosed.
CORPUS CHRISTI, TEXAS — Brunkenhoefer Law Firm has disposed of its office building located in downtown Corpus Christi. The property is a two-story, approximately 7,700-square-foot building. The firm will be relocating to 606 North Carancahua, also in Corpus Christi. Matthew Cravey of NAI Cravey Real Estate Services represented the seller. George Clower of The Clower Company represented the buyer, Channing Slusher, Trustee. The acquisition price was not disclosed.
CUERO, TEXAS — A new Best Western hotel has opened in Cuero. The Best Western Park Heights Inn and Suites is located at 308 Park Heights Drive. It contains 52 guestrooms, including 23 suites. Amenities include an outdoor swimming pool, a fitness center, a 24-hour business center and meeting space for up to 15 people. The hotel is owned by Dipak Patel under a licensing agreement with Best Western International.
SAN ANTONIO — Construction has topped out for the Embassy Suites San Antonio Downtown – Riverwalk, a 285-suite hotel located at 125 E. Houston St. in San Antonio. The hotel will feature Luke, a brasserie restaurant operated by John Besh, as well as an environmentally friendly design and a cascading water element that will run from the lobby to the outdoor patio and into the San Antonio River. Completion is slated for August. Sam Friedman of Blanco Rio, Ltd. is the owner of the hotel, and Natchitoches, La.-based Dimension Development will be the operator. The general contractor is Zachry Construction. The new hotel marks the third Embassy Suites in San Antonio.
HOUSTON — Grubb & Ellis has brokered the sale of a 37,000-square-foot office building located at 8440 Westpark in Houston. Doug Nicholson and John Nicholson of Grubb & Ellis represented the seller, 8440 Westpark LLC. Stephen Schneidau of Cushman & Wakefield represented the buyer, KIPP Inc. The acquisition price was not disclosed.
SAN ANTONIO — The grand opening will be held tomorrow for the new Acuity Hospital of South Texas in San Antonio. The long-term acute care hospital moved from its original location at South Texas Medical Center to a new facility located downtown at 718 Lexington Ave. The new building rises three stories and totals 34,000 square feet. It contains 30 private rooms, a six-bed High Observation Unit, radiology and laboratory facilities and a clinical pharmacy. Austin, Texas-based AcuityHealthcare is the owner of the hospital. Houston-based Professional Construction Services served as the construction management firm for the project, and construction financing was provided by SNB Bank.
PFLUGERVILLE AND WILLIS, TEXAS — Ross Dress for Less will hold the grand opening for its newest location in the coming weeks. The apparel retailer will join the tenant roster at Stone Hill Town Center, a 196-acre, master-planned development in Pflugerville that is owned by NewQuest Properties. Other retailers opening at the center this year include Office Depot and 24 Hour Fitness. In addition to 1 million square feet of retail space, Stone Hill Town Center will contain 325 multifamily units, a hotel and professional office space. In addition, a new Kroger Marketplace has been announced for Sam Houston Town Center, a NewQuest retail development located in Willis. The 123,000-square-foot grocery store will anchor the retail center, which is located at the interchange of Interstate 45 and FM 1097. Sam Hill Town Center will also include 25,000 square feet of small-shop retail space and six pad sites. Groundbreaking for The Kroger Marketplace will occur in March, with the grand opening planned for 2011.
