Texas

MERCANTILE PLACE ON MAIN HOLDS GRAND OPENING

by admin April 22, 2009

DALLAS — The grand opening has been held for Mercantile Place on Main, a multifamily redevelopment project located in Dallas. The project is owned by Forest City Residential Group, a subsidiary of Forest City Enterprises. It consists of the redevelopment of the Mercantile Block, which encompassed nine buildings in downtown Dallas. The site, now christened Mercantile Place on Main, consists of three high-rise residential towers. The Mercantile National Bank Building was redeveloped into The Merc, a 31-story residential tower that opened to residents in March 2008. The second tower is The Element, a 15-story tower that opened in January 2009. The final building is The Wilson, a former office building and department store that now contains 143 luxury loft apartments. Each building features one- and two-bedroom units, as well as penthouses. Community amenities include a 1,750-square-foot fitness center, a private screening rooms, a sports lounge with a gaming room, and the Cabana Lounge. An elevated pool area features a swimming pool, a spa deck, a sun deck with an outdoor kitchen/grilling area, bar-style seating, tables and chairs situated within groves of trees, gardens and wood decks. In addition, a French restaurant named Jean Michel’s will open this fall at the …

April 22, 2009

HILL COUNTRY GALLERIA POSTED FOR FORECLOSURE

by admin April 22, 2009

BEE CAVE, TEXAS — Hill Country Galleria, a 1.3 million-square-foot lifestyle center located at the intersection of FM 620 and Texas Highway 71 in Bee Cave, has been posted for foreclosure. The property is set to go to auction on May 5. Originally completed in 2007, the retail center is more than 70 percent leased; according to Opus West, it maintains a positive cash flow and has met all of its debt obligations. Trouble arose when Opus was unable to refinance the property’s existing construction loan, which was financed through 10 separate lenders. Opus has stated that it is seeking to resolve the situation before the foreclosure auction and maintain control of the property. Situated on 152 acres, Hill Country Galleria features a retail component that is anchored by Dillard’s, Cinemark Theatre, Barnes & Noble and Dick’s Sporting Goods. The project also contains office and residential components. Normal day-to-day operations at the property will not be interrupted.

April 22, 2009

Office Texas

HALL RENEWS FIVE LEASES AT HALL OFFICE PARK

by admin April 22, 2009

FRISCO, TEXAS — Hall Financial Group has renewed five leases at Hall Office Park, the company’s 162-acre office campus located in Frisco. IGPS Co. renewed and expanded its lease to 5,736 square feet at 6801 Gaylord Pkwy. Boyer Group renewed its lease for 3,335 square feet at 2601 Network Blvd. LifePath Systems renewed its leased for 2,561 square feet at 2611 Internet Blvd. NAPCO renewed its lease for 2,450 square feet at 2801 Network Blvd. Finally, Crown Energy renewed its lease for 1,521 square feet at 2591 Dallas Pkwy. Jean Farris and Tammy Lomonaco provided in-house representation for Hall Financial Group in each of the transactions.

April 22, 2009

Industrial Texas

BOB MOORE COMPLETES 1.16 MILLION-SQUARE-FOOT BUSINESS PARK

by admin April 21, 2009

ARLINGTON, TEXAS — Bob Moore Construction has completed Pioneer 360 Business Center, a 1.16 million-square-foot business park located along State Highway 360 in Arlington. The 70-acre property contains three buildings. Buildings A and B total 194,845 and 152,800 square feet, respectively. They are designed for warehouse, office, showroom and flex tech users requiring rear-loading capability. The buildings feature 24-foot clear ceiling heights and a combined 86 loading dock bays. Building C is an 815,820-square-foot, cross-docked distribution facility. It features 32-foot clear ceiling heights, more than 100 trailer storage spaces and 158 loading dock bays. The project is applying for the Gold level of LEED – Core & Shell certification, and is one of the first industrial projects in the state to register for the designation. The developer of Pioneer 360 Business Center is Flaherty Development, and the project architect was Alliance Architects.

April 21, 2009

Restaurant Texas

MARCUS & MILLICHAP BROKERS SALE OF BURGER KING

by admin April 21, 2009

HOUSTON — Marcus & Millichap has brokered the sale of a 3,390-square-foot, freestanding Burger King located in Houston. The property, which was built in 1990, is situated on 1.24 acres at 7801 Highway 6 North. Ed Benton and Monte Lowery of Marcus & Millichap’s Houston office represented the seller, a limited liability company. The buyer, a California-based private investor, was represented by Stephen Sauter of Marcus & Millichap’s Palo Alto, Calif., office. The acquisition price was not disclosed.

April 21, 2009

Restaurant Texas

FIVE GUYS TO OPEN THREE NEW RESTAURANTS

by admin April 21, 2009

HARKER HEIGHTS, AUSTIN AND SAN ANTONIO, TEXAS — Five Guys Burgers & Fries has signed leases for three new restaurants in Texas. The locations consists of a 2,605-square-foot space within Market Heights Shopping Center in Harker Heights; a 2,497-square-foot restaurant located at 3208 Guadalupe in Austin; and a 2,208-square-foot location within Quarry Village Shopping Center in San Antonio. All three restaurants are scheduled to open this summer. Mike Minicucci, Robert O’Farrell, and Todd Wallace of SRS Real Estate Partners represented Five Guys in lease negotiations. Jennifer Hargis of Reata represented the landlord of Quarry Village and Megan Kneipp of Direct Development represented the landlord of Market Heights. Terms of the leases were not disclosed.

April 21, 2009

Office Texas

MILLERCOORS EXPANDS AT HALL OFFICE PARK

by admin April 20, 2009

FRISCO, TEXAS — MillerCoors has signed a 5-year lease extension and expansion for 25,271 square feet of office space within Hall Office Park in Frisco. The company originally signed a lease in 2006 for 12,357 square feet at 2600 Network Blvd. The office is used as MillerCoors’ Southwest Region sales office. Jean Farris provided in-house representation for the landlord, Hall Financial Group. The tenant was represented by Bo Estes of Grubb & Ellis. Hall Office Park is a 162-acre office campus that is master-planned for 3 million square feet of Class A office space. It currently has space available in 15 different buildings.

April 20, 2009

Office Texas

NAI HOUSTON ARRANGES 27,480-SQUARE-FOOT OFFICE LEASE

by admin April 20, 2009

HOUSTON — NAI Houston has arranged a lease for a 27,480-square-foot office building in Houston. Acosta Sales & Marketing Co. will occupy Building 5 at 5050 Westway. NAI’s Griff Bandy and Dan Boyles, along with Bill Knight of GVA-Atlanta, represented the tenant. The landlord, Panattoni Development Co., was represented in-house by Justin Bennett and by John Pruitt, Kristin Rabal and Jessica Ochoa of CB Richard Ellis. Terms of the lease were not disclosed.

April 20, 2009

Office Texas

GRUBB & ELLIS TO LEASE MERCER CROSSING, MANAGE TESORO HQ

by admin April 20, 2009

DALLAS AND SAN ANTONIO — The Dallas office of Grubb & Ellis has been selected as leasing agent for the office component of Mercer Crossing, a 1,200-acre mixed-use development located in Dallas. The assignment consists of 1.8 million square feet of Class A office space in three separate office parks. Fenton Centre is located at 1501-1507 LBJ Freeway and comprises two seven-story office buildings. Browning Place is located at 1601-1607 LBJ Freeway and consists of three eight-story office buildings. Hickory Center consists of one eight-story building and two four-story buildings. Grubb & Ellis’ leasing team for the project includes Kathy Permenter, Russ Johnson and Heather Shover. The office component of Mercer Crossing is currently 63.5 percent leased. In addition, Grubb & Ellis’ San Antonio office has been awarded the management assignment for Tesoro Corporation’s new 618,000-square-foot corporate headquarters, located within Ridgewood Park in San Antonio. Situated on 15 acres, the campus includes a 14-story tower and a 6-story mid-rise building, both of which are connected by a main lobby, as well as a 2,400-space parking garage. The management team consists of Eric Forshee, Baryn Mieure, Kris Weideman and Mark Upton. Tesoro will take occupancy of the property in June.

April 20, 2009

Industrial Texas

NAI HOUSTON BROKERS PURCHASE OF 50,740-SQUARE-FOOT INDUSTRIAL BUILDING

by admin April 17, 2009

HOUSTON — NAI Houston has brokered the purchase of a newly constructed, 50,740-square-foot industrial building located at 8550 Telephone Rd. in Houston. NAI’s Chris Caudill and Joel Michael represented the buyer, Metal Works Properties. The seller, Cerda Corp., was represented by Stuart Rosen of Greater Houston Commercial Properties. The acquisition price was not disclosed.

April 17, 2009

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