Texas

SCM NEGOTIATES ACQUISITION OF 3217 CALIFORNIA AND CONDO SALE

by admin October 12, 2009

FOREST HILL, TEXAS — SCM Real Estate has completed the acquisition of 3217 California Pkwy., a single-story, 21,875-square-foot bank branch building located in Forect Hills. SCM's Theron Bryant represented the local buyer, Texas Stockyards Llano. Bryan Graham of CB Richard Ellis represented the out-of-state seller, BREOF BNK2 Texas LP. Subsequently, Bryant represented the new owner in the sale of a 10,600-square-foot condo interest in the property to the City of Forest Hill. The City plans to construct a new city hall that will contain a larger council chamber, additional offices and drive-thru lanes for water department customers. The city's police and fire departments are considering space at the new facility as well. Chase Bank will remain a tenant at the building, occupying 11,275 square feet.

October 12, 2009

THE SHOPS AT STONE PARK OPENS

by admin October 9, 2009

HOUSTON — The grand opening has been held for The Shops at Stone Park, a new retail center located at the intersection of Beltway 8 and Wallisville Road in Houston. The 259,000-square-foot power center was developed by a joint venture between NewQuest Properties and Ley-Wilson Properties. Tenants include JC Penney, Best Buy, Marshalls, Rack Room Shoes, Party City, Dress Barn, rue 21 and Mattress Giant. Chick Fil-A and Staples are scheduled to open in February 2010. Occupancy is currently 91 percent. The Shops at Stone Park is the third major project at the intersection that the joint venture has constructed, bringing the total amount of retail space built to approximately 700,000 square feet.

October 9, 2009

Civic Texas

MCCARTHY BEGINS CONSTRUCTION FOR $47 MILLION WATER TREATMENT PLANT

by admin October 9, 2009

FORT WORTH, TEXAS — McCarthy Building Cos. has commenced construction for a $47 million water treatment plant in Fort Worth. The Fort Worth Westside Water Treatment Plant will initially be able to treat up to 12 million gallons of water per day and will have future expansion capability. The project will include the construction of an ozone contact basin, flocculation and sedimentation basins, filters and a membrane facility, an operations building, wash water recovery basins, a recycle pump station, a 2.5 million-gallon storage tank, a high-service pump station, an ozone chemical building and an electrical building. Completion of the project is scheduled for January 2012.

October 9, 2009

Industrial Texas

GRUBB & ELLIS COMPLETES 50,000-SQUARE-FOOT INDUSTRIAL SALE

by admin October 9, 2009

DALLAS — The Dallas office of Grubb & Ellis has completed the sale of a 50,000-square-foot industrial building located at 2607 Vinson St. in Dallas. Grubb & Ellis' Gary Lindsey represented the buyer, Federal Resources Inc., as well as the undisclosed seller in the transaction. The sale price was not disclosed.

October 9, 2009

Multifamily Texas

HENDRICKS & PARTNERS BROKERS SALE OF WINDSOR VILLAGE

by admin October 8, 2009

SAN ANTONIO — Hendricks & Partners (H&P) has brokered the sale of Windsor Village, a 124-unit multifamily community located at 5341 Gawain Dr. in San Antonio. Scott Weems of H&P's San Antonio office and Ellen Muskin of the firm's Austin, Texas, office represented the seller, Santa Rosa, Calif.-based SA Windsor Village Apartments LP. The buyer was Boerne, Texas-based Calton Investments. The acquisition price was undisclosed.

October 8, 2009

Multifamily Texas

AVANT CAPITAL ARRANGES $2.85 MILLION BRIDGE LOAN

by admin October 8, 2009

DALLAS — New York City-based Avant Capital has arranged a $2.85 million bridge loan for the acquisition and renovation of a 304-unit apartment community located in Dallas. The loan carries a 2-year term with interest-only payments, a 7 percent interest rate, a 2-year extension option and a 70 percent loan-to-value ratio. The lender is a local bank and the borrowers are multifamily investors with a strong Dallas-Fort Worth presence.

October 8, 2009

Retail Texas

CHASE BANK BRANCH SELLS FOR $1.77 MILLION

by admin October 8, 2009

ALLEN, TEXAS — A Chase Bank branch property located in Allen has sold for $1.77 million. The 4,400-square-foot building was built in 2006 and is located at 1204 Angel Pkwy. Chris Thompson of Los Angeles-based Investment Real Estate Associates represented the buyer, a family trust. Ryan Butler and Brad Moulder of Stan Johnson Co. represented the seller, NEC Angel/Exchange, LTD.

October 8, 2009

Office Texas

EXCO RESOURCES EXPANDS LEASE AT LAKESIDE SQUARE

by admin October 7, 2009

DALLAS — Dallas-based oil and natural gas company EXCO Resources has leased an additional 30,450 square feet at Lakeside Square in Dallas. The company now occupies more than 152,600 square feet at the Class A building, which is located at 12377 Merit Dr. Celeste Fowden and Burson Holman of CB Richard Ellis negotiated the transaction between EXCO and the landlord, Younan Properties.

October 7, 2009

Office Texas

JONES LANG LASALLE ARRANGES FOUR LEASES AT 550 NORTH BAILEY

by admin October 7, 2009

FORT WORTH, TEXAS — Jones Lang LaSalle (JLL) has arranged four leases totaling 47,005 square feet at 550 North Bailey Avenue, a seven-story, 122,828-square-foot office building located in Fort Worth. Engineering firm Dunaway Associates signed a lease for 30,304 square feet; law firm Cotten Schmidt signed a lease for 12,406 square feet; energy firm GSE Consulting signed a lease for 3,040 square feet; and financial services firm Sandlin Capital signed a lease for 1,255 square feet. All of the tenants will take occupancy in the fourth quarter. Whit Kelly of JLL represented the landlord, locally based Goff Capital. Pat McDowell of JLL represented Cotten Schmidt, and David Walters and Ryan Matthews, also of JLL, represented Dunaway Associates. The four leases bring the building to 60 percent occupancy.

October 7, 2009

Industrial Texas

BRADFORD COMMERCIAL COMPLETES TWO INDUSTRIAL LEASES

by admin October 7, 2009

RICHARDSON AND GRAPEVINE, TEXAS — Dallas-based Bradford Commercial Real Estate Services has completed two Texas industrial leases totaling 31,250 square feet. In the first transaction, Eclipse Electronic Systems renewed its lease for 21,500 square feet of flex space at 1551 Glenville Dr. in Richardson. Sharon Friedberg of Bradford represented the tenant, and Maverick Commercial represented the landlord, Richardson Technology Properties I LP. In the second transaction, Mountain Movers Transportation & Logistics signed a new lease for 9,750 square feet of distribution space at 753 Port America Place in Grapevine. Todd Lambeth and Joe Santaularia of Bradford represented the landlord, AMB Property Corp. Gil Stoube of Lincoln Property Co. represented the tenant. Terms of the leases were not disclosed.

October 7, 2009

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