Texas

DALLAS — Construction will begin next month for a $5 million renovation to One McKinney Plaza, a 15-story, 256,543-square-foot office building located at 3232 McKinney Ave. in Dallas. Construction will consist of the conversion of the building's two-story annex into retail and restaurant use. Construction is expected to take 8 months to complete. Gaedeke Group is the owner of One McKinney Plaza. The project architect is Dallas-based BOKA Powell, and the general contractor is Austin Commercial. In a separate initiative, Gardeke Group is also seeking LEED for Existing Buildings certification for the building, which is already Energy Star rated.

FacebookTwitterLinkedinEmail

HOUSTON — The Houston office of NorthMarq has arranged $8.2 million in first-mortgage financing for Brickhaven Apartments, a 780-unit multifamily property located in Houston. The property had previously been foreclosed on; occupancy was 60 percent at the time of closing. The loan includes a 3-year term with interest-only payments. Jim Adams and Andrew Hill of NorthMarq arranged the loan on behalf of the borrower, Pryzant Management, through a regional bank.

FacebookTwitterLinkedinEmail

HOUSTON — Holliday Fenoglio Fowler (HFF) has secured $4.2 million for the refinancing of Oceaneering Office Building II, a 63,000-square-foot office property located in Houston. The building is situated at 16665 Space Center Blvd., across from Johnson Space Center. It was fully occupied by Oceaneering International at the time of closing. The loan, which was arranged by Susan Hill of HFF's Houston office, carries a 7-year term and a fixed interest rate. The borrower is Cole Space Center Ltd., and the lender was Sentinel Asset Management.

FacebookTwitterLinkedinEmail

EL PASO, TEXAS — A movie theater will join the tenant roster at Freedom Crossing, a $100 million retail center currently under development at Fort Bliss in El Paso. Southern Theatres will open The Grand Theatre, a 10-screen venue that will feature more than 1,700 seats and expansion capability. The grand opening is slated for this fall. Freedom Crossing is being developed as a public-private partnership between The Army & Air Force Exchange Service and ServiceStar Development Co. In addition to the theater, the 455,875-square-foot theater will be anchored by expanded versions of the base's Post Exchange and Commissary. Other retail offerings for the open-air center will include apparel, jewelry, sporting goods and restaurants.

FacebookTwitterLinkedinEmail

SUNNYVALE, TEXAS — Marcus & Millichap has brokered the sale of a 136,751-square-foot FedEx freight facility located in Sunnyvale. The industrial property is situated on more than 30 acres at 301 Clay Road. It features 11,761 square feet of office space, 9,640 square feet of shop space, a guard shack, a 2,000-square-foot fuel island and expansion capability up to 20,860 square feet. Alvin Mansour of Marcus & Millichap's San Diego office represented the seller, a Washington-based developer. Ben Sgambati and Alan Cafiero of Marcus & Millichap's New Jersey office represented the buyer, a New York-based investor. Will Jarnagin of Marcus & Millichap's Dallas office provided local representation.

FacebookTwitterLinkedinEmail

CARROLLTON, TEXAS — Construction is complete for a 29,808-square-foot office building located at 4320 Marsh Ridge Road in Carollton. The building's owner, Wholesale Payment Solutions, plans to occupy approximately 8,000 square feet of space and lease the remaining space. The project architect was Seitz Architecture, and the general contractor was Christopher Builders. The leasing team is Eric Rutledge and Abbey Barnett of Cushman & Wakefield of Texas.

FacebookTwitterLinkedinEmail

DALLAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged a $65 million loan for the refinancing of 1700 Pacific, a 49-story, Class A office tower located in Dallas. 1700 Pacific contains 1.34 million square feet of space and is occupied by tenants that include Akin Gump Strauss Hauer and Pension Worldwide. Retail tenants at the tower include Starbucks Coffee, Camille's, Subway, Café Solace and Elevation Fitness Club. HFF's Steve Heldenfels and Whitaker Johnson secured the loan on behalf of Berkeley Investments. The loan carries a 5-year term, a fixed interest rate and was provided by ING Investment Management.

FacebookTwitterLinkedinEmail

KATY, TEXAS — Marcus & Millichap has brokered the sale of Times Square Plaza, a 12,576-square-foot retail center located in Katy. Located at 400 W. Grand Parkway South, the center is fully occupied by four tenants, including Charming Charlie's. The property was built in 2006. Todd Carlson of Marcus & Millichap's Houston office represented the seller, a Houston-based partnership. The buyer was undisclosed. The acquisition price was not released, but the property listed for $3.5 million.

FacebookTwitterLinkedinEmail