AUSTIN, TEXAS — Structura Inc. has completed the renovation of the Perry Brooks Building, a 12-story office tower located in downtown Austin. The lobby of the building was redesigned and now includes granite walls and floors, chrome railings and window trims, modern fixtures and abundant natural light. The building envelope was also renovated and now includes interlocking metal panels that cover the upper levels and are 30 percent more energy efficient. The project plans to seek the EPA's Energy Star certification for the project. L.M. Holder & Associates was the project architect. Transwestern's Austin office is leasing the property.
HOUSTON — KDC has leased a total of 40,600 square feet of industrial space at Ellington Trade Center, the company's 50-acre, 513,000-square-foot industrial park located at 12554 Highway 3 in Houston. Goodman Distribution Inc. signed a lease for 25,300 square feet and the Houston Chronicle signed a lease for 15,300 square feet. John Ferruzzo, Griff Bandy and Jon Michael of NAI Houston represented KDC in lease negotiations. Valerie Palmquist of Transwestern represented the Houston Chronicle, and Shirley Laymance of Mohr Partners represented Goodman Distribution. Terms of the leases were not disclosed.
GRAND PRAIRIE AND DESOTO, TEXAS — Dallas-based Bradford Companies/CORFAC International has brokered two Texas industrial leases. In Grand Prairie, APT Transportation signed a lease for 20,007 square feet of warehouse/distribution space at 1336 W. North Carrier Parkway. Bradford's Jason Miller and Brian Pafford represented the tenant. The landlord was Hesco Southwest Inc. In DeSoto, Optimum Packaging signed a lease for 10,000 square feet of light industrial space within Falcon Centre at 1701 Falcon Drive. Pafford, along with Bradford's Michael Spain, represented the landlord, Owens Brothers Enterprises. VIP Realty represented the tenant. Terms of both leases were not disclosed.
EL PASO, TEXAS — San Antonio-based K Partners Hospitality Group has held the grand opening for the new Fairfield Inn & Suites located at 7514 Remcon Circle in El Paso. The 95-room hotel is part of a 5-acre hotel complex that also includes a 103-room Springhill Suites that opened in August. The Fairfield Inn & Suites features an indoor swimming pool with a whirlpool, 600 square feet of meeting space, an executive boardroom, a business library and work areas. It marks the 20th hotel in K Partners' portfolio to open.
ARLINGTON, TEXAS — SCM Real Estate has brokered the sale of a 4,425-square-foot commercial building located at 2005 E. Lamar Blvd. within Governor's Row in Arlington. Beaux Riley of SCM arranged the sale between the buyer, Hinckley Properties, and the undisclosed seller. This transaction marks the fifth building at Governor's Row that SCM has sold. Five buildings are still available for sale at the business campus.
SAN ANTONIO — Denver-based ProLogis has leased the last building at its Eisenhauer 35 Distribution Center in San Antonio, bringing the industrial park to full occupancy. Texas-based Millennium Distribution signed a lease for 52,800 square feet at Building Seven. Additionally, Las Vegas L.A. Express signed a lease for the remaining 44,000 square feet in the building. Eisenhauer 35 consists of seven buildings totaling 835,000 square feet of distribution space. Other tenants at the park include Kimberly-Clark, Tire Centers, GE Supply Co., Children's Hunger Fund, T.A.S. Air Cargo, Applied Indsutrial Technologies and Impact Floors of Texas.
Historically, hotel rooms in San Antonio have either been in the central business district (CBD) or near the airport and “loop land.” In the 1980s and ’90s, there were two top golf resort properties built — Hyatt Hill Country Golf Resort near Sea World and Westin La Cantera Golf Resort near Six Flags Fiesta Texas — that attracted a new set of business. Additionally, the highway-located budget properties began posting strong numbers. In more recent years, hotel chains have recognized the need to cater to a mid-to-upscale market of tourists and small business road warriors who were unable to find hotel rooms during special events (such as The Final Four) for large conventions or during the busy summer months. Mid-upscale properties, including Marriott, Intercontinental Hotels, Hilton, Starwood, Sheraton, Hyatt, Doubletree, Drury, as well as boutique CBD/River Walk properties such as The Valencia, Watermark Hotel & Spa and Hotel Contessa, were developed and changed the entire complexion of the hospitality market in San Antonio. This year, there have been three major developments that are impacting the hospitality market in San Antonio: • The completion of a 1,000-room Hyatt Regency hotel/condo project adjacent to the Convention Center on the River Walk • …
ARLINGTON, TEXAS — The University of Texas System Board of Regents has finalized the design for the new special events center for the University of Texas – Arlington (UTA). Designed by HKS Inc., the $78 million project will consist of a 218,000-square-foot arena with seating for up to 6,500 people. The building will serve as the home of UTA's basketball and volleyball teams as well as host commencement ceremonies and other community events. The project is applying for LEED-Silver certification, with sustainable features that include almost building-height, low-e glazed exterior windows to let natural light in, a reflective roof, a low-use water system, and the use of regional construction materials and native landscaping. Groundbreaking is scheduled for 2010 and completion is expected in early 2012. The center is part of an effort to establish the university's east campus. The event center will open onto a new pedestrian mall that will be built on what is now Second Street, between Center and Pecan streets. Additionally, a four-story, mixed-use residence hall and parking garage will be built immediately north of the events center.
HOUSTON — Marcus & Millichap Capital Corp. has arranged $22.7 million in construction financing for Clearpointe Residences, a multifamily project currently under development in Houston. The construction-to-permanent loan carries a non-recourse feature, a 40-year term, a 5.8 percent interest rate and a 90-percent loan-to-cost ratio. Peter Dunn of Marcus & Millichap's Houston office arranged the financing. The borrower was not disclosed.
CARROLLTON, TEXAS — NorthMarq Capital has secured $6.88 million in first-mortgage financing for the Crosby Industrial Building located in Carrollton. The multi-tenant property totals 219,780 square feet. The loan includes a 3-year term, a 25-year amortization schedule and a 74 percent loan-to-value ratio. John Stewart of NorthMarq's Dallas office arranged the loan on behalf of Sean Porter with Seaport Interests. The lender was Wells Fargo.