EL PASO, TEXAS — Following the announcement that it will open a new location in Harker Heights, Texas, at the end of the month, Furniture Factory Warehouse has announced details of its newest location in El Paso. Scheduled to open in the fourth quarter, the new store will be the furniture retailer’s third in the city. It will total 22,872 square feet and will be located in Sunland Shopping Center. Additional tenants at the center include Kmart, Ross Dress For Less and PetSmart. Todd Wallace and Robert O’Farrell of SRS Real Estate Partners represented the tenant in lease negotiations. Dan Meador of Kite Realty represented the undisclosed landlord.
CORPUS CHRISTI, TEXAS — The team of Weldon Dietze, Melissa DeLeon, Terrell Miller and Matthew Cravey of Corpus Christi-based NAI Cravey Real Estate Services have been selected to lease One Shoreline Plaza in Corpus Christi. Located at 800 N. Shoreline Blvd. overlooking Corpus Christi Bay, the two Class A office buildings total 363,302 square feet. The south tower is the state’s tallest building south of San Antonio.
TULSA, OKLA. — San Francisco-based design firm Kaplan McLaughlin Diaz (KMD) has been selected to design a new $56 million justice facility in Tulsa. The building will total 175,000 square feet and will include seven courtrooms with other related facilities. The project will also incorporate sustainable elements including extensive use of daylighting and wind power generators. The construction timetable was not released.
ROUND ROCK, TEXAS — The Corte Company has been selected as the design-builder for a $23.6 million military project located in Round Rock. The new Armed Forces Reserve Center will consist of four separate facilities: a training center, a vehicle maintenance building, an organizational unit storage facility and an unheated storage building. Completion is slated for early 2011.
AMARILLO, TEXAS — The former Howard Johnson hotel located on Interstate 40 in Amarillo has been rebranded as the Magnuson Hotel Amarillo. The hotel features 110 guestrooms; amenities include an outdoor swimming pool, free wireless Internet access and close proximity to Amarillo International Airport and Tradewind Airport. The hotel is owned by Kirit Patel. Spokane, Wash.-based Magnuson Hotels currently represents approximately 1,000 hotels.
DENTON, TEXAS — Stan Johnson Co. (SJC) has completed the sale of a 1.16-acre retail ground lease located in Denton for $1.21 million. The site is leased to Auto Zone. SJC’s Gill Warner, Rod Pickney and Chad Byerly represented the seller, a retail developer. Bruce Simpson of Delphi Business Properties represented the buyer, a family trust.
HOUSTON — The Washington, D.C. office of Love Funding has arranged $5.52 million in acquisition financing for Crystal Falls Apartment Homes, a 165-unit multifamily community located in Houston. Constructed in 1984, Crystal Falls contains nine two- and three-story buildings. Amenities include a pool and hot tub, a clubhouse, an exercise room, a laundry room and gated access. The loan includes a 5.35 percent fixed interest rate and a 25-year amortization schedule. It was originated by Love Funding’s Holly Bray, who utilized the HUD 223(f) program. The borrower was not disclosed.
HARKER HEIGHTS, TEXAS — Furniture Factory Warehouse has opened its first location in Central Texas at Market Heights, located in Harker Heights. The retailer will occupy 20,754 square feet and will join a tenant roster that includes Target, Dick’s Sporting Goods, Bed Bath & Beyond and Cinemark. Todd Wallace and Robert O’Farrell of the Austin office of SRS Real Estate Partners represented the tenant in lease negotiations. Krista Dabney with Direct Development represented the undisclosed landlord. SRS assisted in Furniture Factory Warehouse with two other leases this year in El Paso and San Antonio, Texas.
GRAND PRAIRIE, TEXAS — Henry S. Miller Brokerage (HSMB) has arranged a lease for 10,000 square feet of industrial space at 1171-1175 109th St., located in Grand Prairie. Situated on 2.38 acres, the multi-tenant building is located adjacent to the Union Pacific Railroad. With this most recent lease, the building is fully occupied. HSMB’s Jim Hazard represented the landlord, Gardner Properties. The tenant, Xtra Lite Lighting/Environment Lighting Service, was represented by Michael Stanzel of NAI Robert Lynn. Terms of the lease were not disclosed.
CARROLLTON, TEXAS — Marcus & Millichap has brokered the sale of Corinthians Assisted Living & Memory care, a 56-unit senior housing property located in Carrollton, for $3.25 million. The property is situated at 1029 W. Seminole Trail, approximately 2 blocks from its sister property, Corinthians Retirement Community. The property is sold on behalf of Sunwest Management by the Securities and Exchange Commission, which placed the company under receivership while it investigates fraud allegations. Benjamin Firestone and Jacob Gehl of Marcus & Millichap’s Chicago Downtown office represented the seller as well as the buyer, Oklahoma City-based Esperanza City Living. The SEC receiver retained Marcus & Millichap to sell a number of additional Sunwest assets.