HOUSTON — Southwestern Energy Co. has signed a lease for approximately 101,000 square feet at One Commerce Green, an office building located at 515 W. Greens Rd. in Houston. Lispah Hogan of Newmark Knight Frank represented the tenant in lease negotiations. Moody Rambin Interests represented the landlord, Parkway Properties LP. Terms of the lease were not disclosed.
DEER PARK, TEXAS — CB Richard Ellis (CBRE) has arranged the sale of a freestanding 5,860-square-foot retail building located at 1601 Center St. in Deer Park. Matt Keener, Russell Janicek and Mark Raines of CBRE represented the buyer, IBERIABANK FSB, a subsdiary of IBERIABANK Corp. Rod Scarborough of Rod Scarborough Properties represented the seller, Wells Fargo.
DALLAS AND MAGNOLIA, TEXAS — Marcus & Millichap has brokered two Texas retail sales. In the first transaction, Philip Levy and Jason Vitorino of Marcus & Millichap's Dallas office represented a private partnership in the sale of a Chase Bank ground lease in Dallas. The 1.12-acre lot is located at 15202 Montfort Drive and contains a 4,282 net leased bank branch building. The buyer's name was not released. The second transaction involved the sale of a 2,867-square-foot Jack in the Box located at 6734 FM 1488 in Magnolia. The property is situated on 0.97 acres and was constructed in 2001. Edward Benton and Todd Carlson of Marcus & Millichap's Houston office represented the seller, a private investor. Drew Wetherholt of Marcus & Millichap's Ontario, Calif., office represented the buyer, also a private investor. The property traded for $1.7 million.
TEXAS — Chicago-based Harrison Street Real Estate Capital has acquired a nine-property self-storage portfolio located in Texas. The portfolio totals 536,000 square feet and 5,300 units. Five of the properties are located in the Houston area, and the remaining four properties are located in Austin, Dallas, Plano and San Antonio. Harrison Street plans to rebrand each of the facilities as Morningstar Mini-Storage. They will be managed by one of the company's affiliates, Matthews, N.C.-based Morningstar Properties LLC. With this acquisition, Harrison Street increased the size of its self-storage portfolio to 74 properties in 16 states totaling 47,000 units.
PLANO, TEXAS — Telecommunications company Huawei Technologies has signed a lease for 103,331 square feet of office space at Legacy Place II in Plano. The company plans to use the space as its North American sales and marketing headquarters. Approximately 400 employees will be relocated to the new building from its previous Plano and Richardson, Texas, offices. Huawei also plans to expand to as many as 600 employees at the new office by 2012. The company's Plano research and development facility will not be affected. Sandie Matejek and Shannon Brown of Jones Lang LaSalle represented the landlord, institutional investors advised by JPMorgan Asset Management. John Shaunfield and Kyle Jett of Newmark Knight Frank represented Huawei Technologies. Legacy Place II is a six-story office building situated within the Legacy master-planned development at 5700 Tennyson Parkway. This lease bring occupancy up to 75 percent.
LEAGUE CITY, TEXAS — Charlotte, N.C.-based Grandbridge Real Estate Capital has arranged $8.54 million in first-mortgage financing for Anchorage Apartments in League City. The property contains 264 units as well as a navigational easement leading to Galveston Bay. Grandbridge's Cutt Ableson secured the financing, which consists of a 10-year term with a 30-year amortization schedule and an interest rate in the mid-5 percent range. The borrower is an entity sponsored by Dallas-based Urban Southwest Capital and the lender was Fannie Mae.
FORT WORTH, TEXAS — A new Kroger Marketplace will open this quarter at Alliance Town Center in Fort Worth. The 123,000-square-foot supermarket will be situated at the corner of Heritage Trace Parkway and Riverside Drive. It will feature expanded grocery and deli sections, a fuel center, a Nature's Market natural foods section, a drive-through pharmacy, a Fred Meyer Jeweler store and a home furnishing section featuring Ashley furniture. The new Kroger Marketplace is the fourth in Texas and the first in Tarrant County. Alliance Town Center is a 300-acre mixed-use development that is part of the AllianceTexas master-planned development, which is being developed jointly by Trademark Property Co. and Hillwood.
CLEAR LAKE, TEXAS — Hendricks & Partners (H&P) has brokered the sale of The Retreat of Clear Lake, a 232-unit multifamily community located at 16200 Space Center Blvd. in Clear Lake. Jim Hearn of the Houston office, along with Tom Warren of the firm's Dallas office, represented the seller, Village Green Associates LP, a Texas limited partnership of New York City. The buyer, Centennial Colo.-based Interurban Clear Lake LLP, assumed an existing Freddie Mac loan at closing. The buyer plans to continue a capital improvements program started by the previous owner.
AMARILLO, TEXAS — Houston-based Weingarten Realty Investors has disposed of Wolflin Village, a 159,502-square-foot community retail center located in Amarillo. Situated on approximately 10 acres at the intersection of Wolflin Avenue and Georgia Street, the property is currently 92 percent leased to a tenant roster that includes Office Depot, Talbots, Starbucks Coffee, GNC and Cold Stone Creamery. Weingarten was represented by Doug Hazelbaker, Jim Batjer and Ryan Shore of Holliday Fenoglio Fowler. Dunhill Partners was the buyer and purchased the property for an undisclosed amount free and clear of debt.
MISSOURI CITY, TEXAS — Lufkin Automation has acquired a 6.2-acre site in Missouri City's Lakeview Business Park for the construction of a new headquarters building. The $4 million project will consist of a 40,000-square-foot building. Construction is set to begin in early 2010. Lufkin will be relocating from its current facility on Beltway 8 in Houston. Economic incentives are being provided by the City of Missouri City. Lakeview Business Park is a 157-acre development owned by Trammell Crow Co.