DALLAS — Commercial real estate professionals Tanya Little and Angel Benschneider have formed Hart Advisors Group, a full-service real estate advisory company. The new company is based in Dallas. It specializes in commercial property, asset management and business advisory services. Hart will work with owners, institutional clients, venture capital and pension funds, high net-worth individuals and banks that are looking to outsource management of retail, multifamily, office and industrial properties. Prior to forming Hart Advisors Group, Little was the COO of RBC Capital Markets’ Real Estate Mortgage Capital. Benschneider recently managed Texas development operations for The Bourn Group.
GRAND PRAIRIE, TEXAS — Arlington, Texas-based SCM Real Estate has brokered a new lease at Brookhollow Riverside, a Class A office property located in Grand Prairie. Lea+Elliott will occupy 8,200 square feet of the 118,131-square-foot building, which is located 2505 N. State Highway 360. SCM’s Theron Bryant represented the undisclosed landlord. The tenant was represented by Bryan Graham of CB Richard Ellis. Terms of the lease were not disclosed.
PASADENA, TEXAS — El Rincon Guanaco Restaurant has opened a 3,136-square-foot location within Parkview West, a retail property located at the corner of Blueberry Lane and Spencer Highway in Pasadena. Kay Walker of Centro Properties Group provided in-house representation on behalf of the landlord in lease negotiations. Terms of the lease were not disclosed.
CORPUS CHRISTI, TEXAS — Corpus Christi-based NAI Cravey Real Estate Services, together with Boca Raton, Fla.-based NAI Merin Hunter Codman, has brokered a 20,000-square-foot lease at Mission Plaza in Corpus Christi. ZLB BioPlasma, a plasma collection agency, will occupy the space within the 162,000-square-foot shopping center, which is located at 4977 Ayers St. ZLB’s relocation to Mission Plaza more than doubled the size of its original facility. The landlord, as well as the terms of the lease, was not disclosed.
AUSTIN, TEXAS — Governor Rick Perry has signed into law House Bill 873, which expands the state’s incentive program for the production of movies, television shows, commercials and video games in the state of Texas. The legislation allows for flexibility in the amount of incentives the Texas Film Commission can offer entertainment media companies. The bill allows for incentive payments of 5 to 15 percent for film and television projects based on the level of spending in the state, as well as additional incentives of 2.5 to 14.25 percent for project in under-utilized areas. According to the governor’s office, the movie, television and video games have brought more than $1.2 billion to the state in the past 10 years. The bill allows Texas to further compete with New Mexico and Louisiana, which have also increased efforts to attract film and television productions to their respective states.
HOUSTON AND THE WOODLANDS, TEXAS — The Houston office of CB Richard Ellis (CBRE) has arranged two Texas restaurant leases. In Houston, Ruby Tequila’s Mexican Kitchen signed a lease for 6,800 square feet within Commons at Willowbrook, a retail property located at the corner of FM 1960 and Highway 249, across from Willowbrook Mall. CBRE’s Alex Makris, Jazz Hamilton and Matt Keener represented the landlord, Commons at Willowbrook Inc. The tenant was represented by Greg Slusky of The Retail Connection. Makris, Hamilton and Keener were also involved in the leasing of 6,000 square feet of space at Woodlands Plaza, located at 30420 FM 2978 in The Woodlands, by San Miguel de Allende Bar & Grill. The trio represented the landlord, OP1-Reno LP. The tenant was represented by Gabriel Medina of Keller Williams. Terms of both leases were not disclosed.
HURST, TEXAS — Jones Lang LaSalle has been appointed as receiver of the 820 Business Towers located at 301 and 305 Northeast Loop 820 in Hurst. The Class B, two-building office complex totals approximately 100,000 square feet. As receiver, Jones Lang LaSalle is responsible for controlling and directing the use of the asset, which includes conducting due diligence, leasing, managing and marketing the complex for sale, until a resolution is reached between the lender and the borrowers.
MCALLEN, TEXAS — Cadence McShane Construction Co. has completed its second build-to-suit assignment for Virginia-based developer Harwood & Associates. The latest project, McAllen District Office, is a new, four-story Class A office complex located on a 4.5-acre site at 1200 N. Commerce Center in McAllen. The facility comprises 54,300 square feet of office space; 14,270 square feet of warehousing operations; and 11,500 square feet of additional space. Cadence McShane also provided all sitework and exterior landscaping for the office campus. Alliance Architects, Inc. provided architectural services.
HOUSTON — Jamie Mullen of The Woodlands, Texas-based LMI Capital has arranged $4 million in debt for the acquisition of Cedar Branch Apartments in Houston. Located at 1217 Blalock, the 234-unit community features 24 studio, 150 one-bedroom and 60 two-bedroom units. Mullin worked on behalf of the purchaser to secure the financing with one of LMI’s lending sources.
MCKINNEY, TEXAS —The newly expanded Grand Hotel, located at 114 Louisiana in downtown McKinney, has opened. When it first opened in July 2007, the full-service, luxury hotel contained 14 rooms. Its expansion added four stories and 32 additional rooms to the building. The Grand Hotel now features 46 guestrooms, 4 suites, 3 meeting rooms, a 200-seat Grand Ballroom and Rick’s Chophouse, a restaurant that also features outdoor seating. The hotel was developed by Don Day.