HOUSTON — Sandvik has signed a lease for 80,000 square feet of flex space located within Cole Creek Business Park at 8618 W. Little York Rd. in Houston. The company will consolidate two of its existing locations into the new facility, which will house the company’s Material Technology Tube Products Southeast regional sales office and warehouse. The new lease represents an approximately 30,000-square-foot expansion from the division’s former locations. Faron Wiley of CB Richard Ellis represented the landlord, Cole Creek Industrial Associates LP. The tenant was represented by Blake Kendrick of Stream Realty Partners. Cole Creek Business Park is a 90-acre, master-planned business park that contains more than 1 million square feet of single- and multi-tenant industrial space. Cole Creek Industrial Associates is a partnership between ING Clarion Partners and Dallas-based Trammell Crow Co.
PLANO, TEXAS — Plano Independent School District has awarded Cadence McShane Construction Co. the comprehensive construction assignment for Douglas Otto Middle School in Plano. The new 153,400-square-foot educational facility, which will be located on a 22.77-acre site at 6600 Alma Dr., will feature 63 classrooms, eight science labs, a music room, a 500-seat competition gymnasium, cafeteria, library, practice gymnasium, administration facilities and dedicated space for special education and guidance counseling. The assignment also includes construction of two football fields, four fenced tennis courts and a 133-stall surface parking lot. Dallas-based PBK Architects are providing architectural services.
SEABROOK, TEXAS — Seatree Properties, Ltd., has secured a $5.8 million loan from Freddie Mac to completely pay off the existing loan on Seatree Apartments in Seabrook. Whitaker Johnson with the Dallas office of Holliday Fenoglio Fowler arranged the refinancing for the 220-unit apartment community on behalf of Seatree Properties. Located approximately 20 miles southwest of downtown Houston at 2800 Nasa Parkway, the garden-style complex was renovated in 2006 and offers five floor plans. The borrower is an affiliate of Hall Financial Group, Ltd.
CARROLLTON, TEXAS — Ken Wesson of Lee & Associates, DFW has represented Metal Link, Inc. in an industrial lease transaction for 68,000 square feet at 13950 Senlac in Carrollton. Scott Moore with Holt Lunsford Commercial’s Dallas office represented the landlord, The Realty Associates Fund IV, LP.
DALLAS — Manhattan Beach, Calif.-based Main Street Partners & Associates has acquired Ridgegate Apartments for $6.05 million. The Class C multifamily community is located at 9737 Forest Lane in Dallas and contains 270 units. The undisclosed seller was represented by Sam Pettigrew of locally based The Cantrell Company. Acquisition financing was provided by Fannie Mae. Main Street Partners retained JBlue Real Estate Services to manage the property, as well as oversee its planned renovation.
HOUSTON — NAI Houston has brokered the purchase of a newly constructed, 20,700-square-foot industrial property located at 7310 West Rd. in Houston. NAI’s Chris Caudill and Jon Michael of represented the buyer, Limin Properties, Ltd. The seller, A.E.N. West Rail Center LP, was represented by Steve Adkisson of The National Realty Group. The acquisition price was not disclosed.
HOUSTON — Longview, Texas-based Deason Financial Group has arranged $2.2 million in bridge financing for the acquisition of a 164-unit, Class C multifamily community located in Houston. The property is situated on 4.1 acres and had recently been put under foreclosure. The borrower is an out-of-state party satisfying a 1031 exchange. The Texas-based lender provided financing with a 24-month term and interest-only payments. The loan has a draw feature for improvements to the property, and loan take-out will come from permanent agency financing.
HOUSTON — Houston-based Hines has expanded its HinesGO sustainability program to the more than 120 million square feet of office space that the company manages all over the world. The program was originally meant to encourage sustainability at Hines’ own 230 offices, but it will now be adapted for the company’s 650-building office portfolio. HinesGo is modeled after the LEED program, in that it awards points for identifying and implementing no-cost and low-cost alternatives to operating an office, with the ultimate goal of being designated a Green Office. Categories include energy efficiency, people and atmosphere, travel and commuting, reuse and recycle, cleaning, remodeling and construction, and LEED. The program scores buildings on a 100-point scale, with 70 points or above earning the Green Office designation.
THE WOODLANDS, TEXAS — Overland Park, Kan.-based Henzlik-Oliver Real Estate Cos. has acquired a 63,000-square-foot portion of Wood Winds Shopping Center, located at 425 Sawdust Rd. in The Woodlands. The parcel is currently leased to Big Lots for one of its retail locations and HEB, which maintains offices in the space. The seller, as well as the sale price, was not disclosed.
HOUSTON — The Woodlands, Texas-based LMI Capital has arranged $3.7 million in permanent acquisition financing for Forest Pointe Apartments, a 27-unit multifamily property located in Houston. Brandon Brown of LMI arranged the fixed-rate loan on behalf of the undisclosed borrower. The lender was one of LMI’s lending sources.