FLOWER MOUND, TEXAS — The Flower Mound Town Council has approved Continuum Health Services' plans to develop a new inpatient rehabilitation hospital in Flower Mound. Continuum Rehabilitation Hospital will be built within an existing 55,280-square-foot building located at 3100 Peters Colony Road. The hospital will include 42 private beds, concierge, a spa, and wellness and restaurant services. The building will also contain a dedicated gym featuring state-of-the-art equipment, aquatic therapy, and hot and cold emersion baths. The construction timetable was not released. The new hospital is one of several new projects in Flower Mound. Medical Center of Lewisville recently opened a 24-hour emergency room and imaging center, and Texas Health Presbyterian Hospital's Flower Mound campus is expected to open this spring.
HOUSTON — NAI Houston has brokered the sale of 5521 Armour Drive, a 23,000-square-foot industrial building located in Houston. Travis Land and Michael Keegan of NAI represented the seller, Tire Source. Dan Nip of PMI Inc. represented the undisclosed buyer. The acquisition price was also undisclosed.
ALLEN AND FAIRVIEW, TEXAS — Cadence McShane Construction Co. has completed a multi-phase construction assignment at The Village at Allen and The Village at Fairview on behalf of developer The MGHerring Group. Over the course of five phases of construction, Cadence McShane built 12 retail buildings and two parking structures totaling more than 592,000 square feet and more than 900 parking spaces. The project architects were Architecture+, Alliance Architects and JPRA Architects. The Village at Allen and The Village at Fairview are the two components of a 3 million-square-foot mixed-use project located at the corner of U.S. Highway 75 and Stacy Road on the border of the cities of Allen and Fairview.
DALLAS — Dallas-based Westmount Realty Capital has disposed of an approximately 3.9-acre land parcel situated within its Westmount Health Campus in Dallas. Forest Park Realty Partners III purchased the site for the further expansion of its Forest Park Medical Center. The first phase of Forest Park Medical Center was completed in March and consists of a 66,000-square-foot specialty hospital. Forest Park Realty Partners purchased 6.9 acres of adjacent land in August. With this most recent transaction, only 5.5 acres remain of the 27-acre land parcel Westmount purchased in 2006 for the creation of a healthcare campus.
PLANO, TEXAS — Equity Based Services (EBS) has acquired Advantage Self Storage, a 554-unit, 71,435-square-foot self-storage property located at 3900 McDermott Road in Plano. As part of the transaction, EBS assumed the property's debt, which consists of a non-recourse loan through Bank of America that carries a 5.6 percent fixed interest rate with interest-only payments through 2012 and a 30-year amortization thereafter. It also carries a 72 percent loan-to-value-ratio. Angelo Tomasello of Locke Acquisition Group arranged the transaction. With this most recent purchased, EBS has 64 self-storage facilities in its portfolio and expects to double that number over the next year.
DALLAS — Healthcare Trust of America (HTA) has acquired a long-term acute care hospital in Dallas for approximately $27.35 million. The four-story property totals approximately 52,300 square feet and contains 60 beds. It is currently being leased on a long-term basis by Dallas LPACH LLC, a subsidiary of St. Louis-based RehabCare. The seller is Gulf States Health Services, which developed the property 2 years ago in a partnership with a local physicians group. HTA also recently closed on a portfolio acquisition in Texas. It acquired a three-building medical office portfolio that includes properties located in San Angelo and Corsicana, Texas. The third property is located in Fort Wayne, Ind. The portfolio traded for approximately $20.5 million and was sold by Atlee Development.
COPPELL, TEXAS — Samsung Telecommunications America has signed a lease for 261,025 square feet of industrial space at Point West VII in Coppell. The company plans to use the space for light manufacturing and distribution of its cell phones. The facility will become its largest cell phone distribution facility in the United States. Dave Anderson and Pat O'Keefe of CB Richard Ellis represented Samsung in lease negotiations. The landlord, Duke Realty Corp., was represented in-house by Randy Wood. Point West VII is a 756,577-square-foot industrial building located at 240 Dividend Dr. in Coppell. It features 32-foot minimum clear ceiling heights, 50-foot by 50-foot column spacing, 60-foot staging bays and a 180-foot truck court. Samsung's lease brings it to 83 percent occupancy.
ROSENBERG, TEXAS — The grand opening has been held for the new Kroger Marketplace located within Brazos Town Center in Rosenberg. The 123,000-square-foot grocery store is twice the size of a regular Kroger. In addition to Kroger's usual store sections, the Marketplace contains a general merchandise section containing outdoor living products, electronics, home goods and toys. It also contains a Fred Meyer Jewelers and a home furnishing section featuring Ashley Furniture. Brazos Town Center is a 550-acre, master-planned community that is being developed by NewQuest Properties at the intersection of U.S. Highway 59 and Reading Road. It features 220 acres of retail space, approximately 940 multifamily units and a medical/professional office park.
KATY, TEXAS — The grand opening has been held for Solana at Cinco Ranch, a $37 million senior housing community located at 24001 Cinco Ranch Center Blvd. in Katy. The luxury rental community contains 126 independent living units and 32 assisted living units, with monthly rents starting at $2,795. Community amenities include a heated saltwater pool, a restaurant, a wine bar, a library, a theater, a game room, outdoor courtyards and a wellness center. The project was more than 30 percent leased at the time of the opening. Solana at Cinco Ranch was developed by Alpharetta, Ga.-based Formation Development Group and will be managed by Atlanta-based The Arbor Company. The project architect was Dallas-based Three Architects and the interior designer was StudioSix5.
DALLAS — Bob Moore Construction has completed a new multi-building complex in Dallas for Around The Clock (ATC) Freightliner Group. The 200,308-square-foot project is situated on more than 24 acres along Interstate 20 at 4200 Port Blvd. It consists of two buildings. Building A is a 183,088-square-foot facility that houses retail space, a service area, parts sales and warehousing, training facilities and administrative offices. Building B totals 17,220 square feet and contains the truck sales department. The site also features extra wide driving lanes, several hundred trucks parking spaces, more than 30 trailer parking spaces and a pet park with 10 kennels for drivers' pets. The project architect was Oklahoma City-based Fitzgerald & Associates.