SPRING, TEXAS — Stan Johnson Co. (SJC) has completed the sale of a 13,013-square-foot, freestanding CVS/pharmacy, located in Spring. The building is situated on 1.82 acres at 8754 Spring Cypress Rd. Hunter Jaggard and Daniel Herrold of SJC’s Houston office represented the seller, Houston-based Gulf Coast Commercial Group. Steve Weiss of Baltimore-based Colliers Pinkard represented the buyer, a Maryland-based individual investor. The acquisition price was not disclosed.
DALLAS — Corgan Associates has been selected as the architect of record for the renovation of Dallas’ Love Field airport. The Love Field Modernization Program will begin with the demolition and consolidation of the airport’s three original concourses into one central concourse. The check-in and baggage claim areas will be redesigned and the main lobby space will be renovated. The number of airport concession areas will be more than doubled. The project plans to pursue LEED certification. Demolition work will begin in the fall, with Phase I construction scheduled for a 2012 completion. The project will wrap up by fall 2014. Corgan Associates has been involved in several renovation projects for the airport and was part of the original design team when it was constructed in 1956.
SAN ANTONIO — Starwood Hotels & Resorts Worldwide has opened the Four Points by Sheraton San Antonio Northwest. The six-story, 130-room hotel is owned by Galo Properties and managed by DePalma Hotels. Four Points is the first of three prototype hotels to open in North America as part of the rejuvenation campaign. The hotel features a fitness center, a heated outdoor swimming pool and 1,400 square feet of meeting space. The hotel anchors Promenade Place, a 12-acre lifestyle center, and is situated across from the University of Texas – San Antonio.
NORTH ARLINGTON, TEXAS — Daired’s Salon & Day Spa has acquired a two-story, 14,700-square-foot retail building located at 915 Skyline Dr. in North Arlington. The buyer plans to open a new location for its business this fall. Theron Bryant of SCM represented the undisclosed seller. Steve Chilton of Chilton Development represented the buyer. The acquisition price was not released.
HOUSTON — The Woodlands, Texas-based LMI Capital has secured a $7.5 million loan for the refinancing of a 380-unit multifamily project located in Houston. The loan, which was secured through the Fannie Mae DUS program by LMI’s Jami Mullin, carries a 10-year term, non-recourse. The parties involved were not disclosed.
SAN ANTONIO — Los Angeles-based Investment Real Estate Associates (IREA) has completed the sale of a 9,180-square-foot Family Dollar retail building, located in San Antonio. The building, which was constructed this year, is situated at 1826 Rigsby Ave. Clark Everitt and William Everitt, both of IREA, represented the seller, TI Rigsby LP, as well as the buyer, a private individual. The property traded for approximately $1 million.
IRVING, TEXAS — Cadence McShane Construction Co. has completed Northlake College – South Campus, a satellite campus for the Dallas County Community College District that is located in Irving. The two-story, 33,278-square-foot facility is situated on 11.72 acres at 1801 W. Shady Grove Rd. It features 15 classrooms, three computer labs, a science lab, a library, administrative areas, study lounges, a multi-purpose room, catering facilities, a GED testing suite, a law enforcement office, vending areas and a 225-space parking lot. The project architect was F&S Partners. Dallas County Community College District currently operates a network of seven colleges with more than 89,000 students.
HOUSTON — Several projects are complete or under way at Park 10, Wolff Companies’ 550-acre master-planned community located in the West Houston Energy Corridor. Along Park Row Boulevard, construction is advancing for four office projects. Woodcreek Development is working on The Reserve at Park 10, a 150,000-square-foot, Class A office building. Yancy Hausman recently completed a two-story, 32,000-square-foot headquarters building for Epic Energy. The National Association of Corrosion Engineers has also completed a two-story, 18,000-square-foot building on its existing campus. Finally, construction is under way for a new 66,000-square-foot building on Sercel’s 27-acre campus. Another project currently in the construction stage is a new $5.3 million fire station for the city of Houston. It is scheduled for completion in February 2010. Dallas-based Western International is also finalizing plans for the development of a 120-room Residence Inn by Marriott, which will be located at the corner of Barker-Cypress Road and Park Row. It will be situated near the new Medical Center – West, a 170-acre campus that will be the home to the west campuses of Texas Children’s Hospital and The Methodist Hospital. The $500 million first phase of the medical center is scheduled for completion in 2010. Finally, Moody National …
DALLAS — Baton Rouge, La.-based MAPP Construction has completed the renovation of Ernst & Young’s Dallas offices. Construction consisted of the renovation of five floors and 141,749 square feet within the One Victory Park building at Victory Park. MAPP added administrative areas, conference rooms and Intermediate Distribution Frame rooms with security mesh above and below the floor. The project also is applying for LEED-Silver certification. Sustainable components include an indoor air-quality plan, the use of low-VOC paints and materials, and a recycling program for construction materials.
HOUSTON — Charlotte, N.C.-based Grandbridge Real Estate Capital LLC has arranged two permanent fixed-rate loans to refinance an office park in Houston. Harwin Business Center, which was built in the early 1970s, features 221,954 square feet of office space in multiple buildings at 7540-7596 Harwin Dr. Grandbridge arranged the financing on behalf of VIP Investment No. 5. A correspondent life insurance company structured both 5-year loans at a 6-percent interest rate with 25-year amortizations.