HOUSTON — King & Spalding has renewed its lease for 116,732 square feet of space at 1100 Louisiana, a 55-story office building in downtown Houston. Hines is the landlord of the 98 percent-leased property. Tim Relyea of Cushman & Wakefield of Texas represented the law firm, which has been a tenant in the building since 1995. Additionally, oil and gas energy company Vitol Inc. has renewed and expanded its lease at the building. The company, which has been a tenant since 1997, now will occupy 43,000 square feet. Trey Strake and Chris Oliver of Cushman & Wakefield of Texas, Inc. represented Vitol in lease negotiations. Chrissy Wilson, Paula Bruns and Mark Janssen of Hines represented the landlord in both transactions.
BROWNSVILLE, TEXAS — The Woodlands, Texas-based LMI Capital has arranged $3.3 million in debt for the refinance of Los Cedros Apartments, a 135-unit multifamily project in Brownsville. Chris Pollard of LMI Capital worked on behalf of LCBT, LTD to secure the 10-year, fixed-rate loan, which was funded through one of LMI Capital's Fannie Mae lending sources.
DALLAS — The grand opening has been held for the new Aloft Downtown Dallas, a 193-room hotel located at 1033 Young St. in Dallas. The project consisted of the adaptive re-use of an eight-story, former railroad freight depot that was constructed in 1924 and used by the Santa Fe Railroad. The hotel project was designed by One Group Design and is seeking LEED certification. It is owned by a joint venture between locally based companies Hamilton Properties Corp. and Sava Holdings under a licensing agreement with Starwood Hotels & Resorts.
DALLAS — Parkland Health & Hospital Systems has signed a lease for 67,000 square feet at 8435 Stemmons, an 11-story, Class A office building located in Dallas. The company is using the space as a temporary location while its new campus is under construction. The transaction was negotiated by Red River Asset Management. Parkland is the second tenant at the 229,605-square-foot office building. Earlier this year, Telx signed a lease for 25,000 square feet. The two leases bring occupancy to 45 percent. Red River's leasing plan for the property, which is owned by Lakewood, N.J.-based Diversified Capital, is to reposition the fourth floor as ready-to-occupy office suites and land a two-floor anchor tenant, which will have the option of naming rights to the building.
HOUSTON — Arbor Commercial Funding has secured $7.5 million in Fannie Mae DUS financing for Green Oaks Village, a 380-unit multifamily community located in Houston. The loan carries a 10-year term with a 25-year amortization schedule and a 6.34 percent interest rate. Matt Norman of Arbor's Dallas office originated the financing. The funds will be used by the undisclosed borrower to refinance a short-term, acquisition/construction loan.
LEWISVILLE AND HOUSTON, TEXAS — Stan Johnson Co. (SJC) has brokered two retail sales and one industrial sale in Texas. First, a private investor purchased a 46,998-square-foot retail store located in Lewisville that is currently leased to Haverty's Furniture. Gill Warner, Rod Pickney and Chad Byerly of SJC represented the seller, another private investor. Barry Wolfe of Marcus & Millichap represented the buyer. The property traded for $3 million. In the second deal, a private investor purchased an industrial property located in Houston that is currently leased to Carrier Sales & Distribution for $2.7 million. Warner, Pickney and Byerly represented the seller, a developer. William Janis represented the buyer. Finally, an individual investor purchased a 7,000-square-foot retail property located at 9670 N. Sam Houston Pkwy. in Houston that is currently leased to Sherwin-Williams. SJC's Jim Gibson represented the seller, a local retail developer. Donald E. Dennis Inc. represented the buyer, an individual investor participating in a 1031 exchange.
DENTON, TEXAS — Henry S. Miller Brokerage (HSMB) has completed the purchase of a 16,000-square-foot flex property located in Denton. The property consists of two office and warehouse buildings situated on 1.6 acres at 3412 Schuyler Rd. One building totals 10,000 square feet and the other totals 6,000 square feet. HSMB's Dan Spika represented the buyer, Jim/Heritage LP. Don Frazier of Frazier Commercial represented the seller, The Estate of Martha Parker. The acquisition price was not disclosed.
HOUSTON — CB Richard Ellis (CBRE) has arranged a lease renewal on behalf of apparel retailer Marshalls in Houston. The company renewed its lease for 27,000 square feet at The Commons at Willowbrook, a shopping center located at 7700 FM 1960 West in Houston. Matt Keener and Alex Makris of CBRE represented the landlord, The Commons at Willowbrook, Inc. Terms of the lease were not disclosed.
DALLAS — The Weitzman Group has brokered the sale of the Inwood Plaza office building, located in Dallas. Situated at 12240 Inwood Rd., the property totals five stories and 34,663 square feet. The building has been recently renovated. Bill Knoprick and Jonathan Diamond of Weitzman represented the seller, a limited partnership. The buyer was locally based Lutador LLC. Weitzman will continue to serve as leasing agent for the building.
PLANO, TEXAS — Cadence McShane Construction Co. has been selected for an 84,299-square-foot expansion and renovation project at Plano East Senior High School in Plano. The project includes the construction of a new two-story, 54,194-square-foot science wing that will feature 16 labs, one prep room, one chemical storage room and a modern lab safety system. In addition, Cadence McShane will be renovating 29,324 square feet, comprising the school's cafeteria, kitchen, culinary arts space and administrative areas. Completion is slated for August 2010. WRA Architects is providing design services. Plano East Senior High is situated at 3000 Los Rios Blvd. and currently totals 471,538 square feet.