AUSTIN, TEXAS — US Screen Corp. dba SI Screens has signed a lease for a single-story, 22,206-square-foot manufacturing facility located at 2105 Denton Dr. in Austin. The company will use the space to produce projection screens. It has already taken partial occupancy and will complete its relocation at the end of the month pending the completion of tenant improvements. SI Screens is relocating from a 14,777-square-foot facility located at 11110 Metric Blvd., also in Austin. Su Kosub of Grubb & Ellis represented US Screen Corp. in lease negotiations. Daniel Farrar of Stream Realty Partners represented the landlord, PS Business Parks.
BEAUMONT, TEXAS — Construction is under way for a new multi-purpose athletic complex for the Beaumont Independent School District. The facilities will be located on an 85-acre site south of Interstate 10, north of Fannett Road and east of Brooks Road. Construction will consist of a 10,365-seat stadium, a 10,600-square-foot field house and a 27,700-square-foot natatorium building. Completion is slated for 2010. The Houston office of SHW Group is serving as project architect, and the Houston office of Parsons Corp. is serving as program manager. Construction management services are being provided by the Houston office of Turner Construction Co. and Houston-based Hallmark Group.
HOUSTON — Charleston, S.C.-based Greystar Real Estate Partners has completed two new apartment communities in Houston. Northgate Oaks Apartments is located on T.C. Jester Boulevard, and Yorktown Crossing is located in the Highway 6 corridor. Both properties contain 312 units, and feature one- and two-bedroom units ranging in size from 716 to 1,262 square feet. Amenities include resort-style swimming pools and clubhouses with media rooms, fitness centers, cyber cafes and tanning salons. Greystar has opened two additional communities this year in Dallas and Sugar Land, Texas.
HOUSTON — CB Richard Ellis (CBRE) has brokered the sale of Woodlake Collection, a 9,861-square-foot shopping center located in Houston. Situated at 2660 S. Gessner Rd., the retail property was sold out of receivership and had been controlled by the lender. Ryan West and Paula Foster of CBRE represented the selling entity. The buyer is a Houston-based private partnership. The acquisition price was not disclosed.
HOUSTON — XL Parts has selected the Houston office of Cadence McShane Construction Co. for a multi-phase industrial project in Houston. In Phase I, Cadence McShane will build out 12,017 square feet of shell office space within the company's existing 187,620-square-foot industrial center at 15701 Northwest Freeway. Phase II will include the construction of a 101,650-square-foot, build-to-suit industrial facility located on approximately 24 acres at the intersection of Northwest Freeway and Beltway 8. The building will include 30-foot clear ceiling heights, three drive-in doors, two semi-dock doors, 34 standard dock doors and 2,931 square feet of office space. Munson Kennedy Partnership is serving as project architect. Completion is slated for February 2010.
IRVING, TEXAS — MB 35 LLC has completed the renovation of the former Cheyenne Apartments located in Irving. The 103-unit community, which has been renamed Casa del Sol Apartments, was purchased by MB 35 in 2007, with renovations beginning shortly thereafter. The more than $600,000 construction project included energy-efficient upgrades to the plumbing and HVAC systems, the remodeling of all units, a new roof and the installation of 30,000 square feet of radiant barrier in the attic. Occupancy has increased to 99 percent for the property.
HOUSTON — NorthMarq Capital has arranged two loans for a total of $16.56 million. In the first transaction, John Burke of NorthMarq's Houston office secured $10.56 million in first-mortgage financing for Briarwood Apartments, a 351-unit multifamily property located in Houston. The loan includes a 10-year term with a 25-year amortization schedule. The borrower is Briarwood Partners LP and the lender is AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. In the second transaction, Burke secured $6 million in first-mortgage funds for the refinancing of Kirkwood Shopping Center, also in Houston. The property totals 59,504 square feet and is occupied by a tenant roster that includes Davita Dialysis, Charlotte's Saddlery, Starbucks Coffee and Wayne's Carpet. The loan carries a 9-year term with a 20-year amortization schedule. The borrower was an individual investor and the lender was Symetra Life Insurance Co.
SUGAR LAND, TEXAS — Northstar Commercial Partners has acquired a warehouse and distribution center located in Sugar Land for approximately $15.7 million. The property totals 369,364 square feet and is situated on 21.1 acres within Sugar Land Business Park at 1601 Gillingham Lane. The building features 28- to 38-foot clear ceiling heights and more than 5 acres of outside storage/trailer parking. Two tenants currently occupy the property on a short-term basis. Northstar purchased the property from Amegy Bank, N.A. as a distressed asset. The bank also provided the primary financing for the deal. Bob Berry and Jarret Venghaus of Jones Lang LaSalle represented the seller in the transaction.
HOUSTON — Marcus & Millichap has brokered the sale of Streamside Place, a 201-unit apartment community located in Houston. The property was constructed in 1984 and is located at 5335 W. Gulf Bank Rd. Will Balthrope and Tommy Lovell of Marcus & Millichap's Dallas office, along with Jeffrey Fript of the firm's Houston office, represented the seller, a private investor. The trio also represented the buyer, a limited liability company. The acquisition price was not disclosed.
DALLAS — Completion is nearing for Churchill Estates at Lake Highlands, a 175-unit senior housing community located at 8501 Lullwater Dr. in Dallas. Amenities for the community include a wellness center and library, a movie studio, a billiards rooms, a fitness center and an art studio. Dining options include two dining rooms, a bistro and a wine room. The community is currently open to residents, along with some of the amenities; the entire project should be finished by late 2009. Churchill Residential is the developer of Churchill Estates. Galier, Tolson, French Architects designed the project, with KWA Construction serving as general contractor. Faulkner Design Group is the interior designer.