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.
Texas
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.
DALLAS — Marcus & Millichap has brokered the sale of the 98-unit Lakewood Colony apartment complex between two private parties for an undisclosed amount. The property is located on a 4.95-acre site near the intersection of Garland and Gaston avenues in Dallas. The buyer is planning to renovate Lakewood Colony. The firm's Nick Fluellen, who is based in Marcus & Millichap's Dallas office, represented both parties in the transaction.
AUSTIN, TEXAS — An Austin-based investment partnership has purchased the 69,336-square-foot Rivertowne Mall from a private party for an undisclosed amount. The property is located on 5.58 acres at 2003-2017 Riverside Drive in Austin. The buyer is planning to redevelop the project into traditional retail space. Walter Saad, Cathy Nabours and Eric DeJernett of CB Richard Ellis' Austin office represented the seller.
HOUSTON — Wholesale Roofing Supply has purchased a 40,055-square-foot warehouse from Bowie Sims Prange for an undisclosed amount. The property is located at 1310 Richey Road in Houston. CB Richard Ellis' Glynn Mireles represented the buyer. The seller had in-house representation.
MCKINNEY, TEXAS — The Cirrus Group and its joint development partner McFarlin Group have broken ground on Orchard Park of McKinney, a senior assisted living facility, which specializes in tenants living with Alzheimer's disease and dementia. The development will be located at 3392 Medical Center Drive in McKinney and is scheduled to open in early 2011. Upon completion, Orchard Park of McKinney will contain 67 apartment-style assisted living residences and 30 memory care residences. Good Neighbor Care Centers will be assisting with daily operations.
HOUSTON — The Houston office of Holliday Fenoglio Fowler (HFF) has closed the sale of The Commons at Presidio Square, a 189,340-square-foot shopping center located at the intersection of Highway 6 and Bellaire Boulevard in Houston. The shopping center, which sits on 22.5 acres, is anchored by H-E-B and is currently 89.9 percent leased with major tenants such as RadioShack, IHOP and JPMorgan Chase. HFF's Rusty Tamlyn and Trent Agnew lead the investment sales team on behalf of the seller, Camden Securities. Canadian-based North American Development Group purchased the property and assumed the in-place financing.