Texas

BREMNERDUKE BEGINS ORTHOPEDIC AND SPINE HOSPITAL

by admin March 24, 2009

ARLINGTON, TEXAS — BremnerDuke Healthcare, a division of Indianapolis-based Duke Realty Corp., has commenced development of Baylor Orthopedic & Spine Hospital of Arlington (BOSHA), a 55,129-square-foot medical facility located at 721 W. Highlander Blvd. in Arlington. Situated on 4.4 acres, the two-story facility features a 24-bed inpatient surgical center, six operating rooms, a 24-hour emergency department, diagnostic imaging equipment and administrative offices. The facility is being developed by BremnerDuke in conjunction with Arlington Orthopedic Associates. It will be owned by BremnerDuke Healthcare Real Estate and AOA Arlington Development LP, and will be leased to BOSHA. The general contractor is Dallas-based Hill & Wilkinson and the project architect is locally based Ascension Group Architects. Completion is scheduled for the first quarter of 2010. BOSHA is owned by a joint venture between Baylor Health Care System, United Surgical Partners International and Arlington Orthopedic Associates.

March 24, 2009

NEW BUILDING BREAKS GROUND AT BROOKHAVEN COLLEGE

by admin March 24, 2009

FARMERS BRANCH, TEXAS — Groundbreaking has occurred for the new Workforce and Continuing Education Building at Brookhaven College in Farmers Branch. The $6 million project, which was designed by Dallas-based SHW Group, consists of a 28,500-square-foot education facility. It will feature more than 15 classrooms, a computer lab, four multipurpose rooms, two conference rooms, a lobby area, break stations, offices, and outdoor patios and gardens. The building will also contain sustainable elements, including the use of local construction materials, low VOC paints and sealants, a reflective rooms and north-facing glass windows. Completion is scheduled for January 2010.

March 24, 2009

Office Texas

GRUBB & ELLIS SECURES 145,000-SQUARE-FOOT INDUSTRIAL LEASE

by admin March 23, 2009

HOUSTON — John Nicholson and Doug Nicholson of Grubb & Ellis’ Houston office have secured an approximately 145,000-square-foot lease at Portwall Distribution Center in Houston on behalf of Cadeco Industries Inc. The warehouse space, located at 530-542 Portwall St., is split between two single-story buildings. The first comprises 81,000 square feet; the second has 62,820 square feet. Houston-based Warehouse Associates owns the 7-acre property and represented itself in the lease transaction.

March 23, 2009

Multifamily Texas

AVANT CAPITAL PARTNERS CLOSES $4.58M BRIDGE LOAN

by admin March 23, 2009

OKLAHOMA CITY — New York City-based Avant Capital Partners recently closed an approximately $4.58 million bridge loan for the acquisition and renovation of a 209-unit apartment complex in Oklahoma City. Avant secured the interest-only loan through its relationship with a community bank at 5.25 percent. The loan, which was based upon 70 percent loan-to-cost, is convertible to permanent financing upon completion of the renovation and lease-up. The undisclosed sponsors are multifamily investors with a strong operational presence in the Oklahoma City market.

March 23, 2009

Hospitality Texas

HOLIDAY INN EXPRESS OPENS

by admin March 23, 2009

SEALY, TEXAS — The grand opening has been held for the new Holiday Inn Express Hotel & Suites, located at 2370 Highway 36 South in Sealy. The hotel, which contains 70 rooms, is a new prototype hotel for the Holiday Inn brand. Amenities include an outdoor swimming pool, a fitness center and wireless Internet access. The hotel is owned by Al, Jay and Pat Patel. Holiday Inn is franchised by Atlanta-based InterContinental Hotels Group.

March 23, 2009

Hospitality Texas

ELEMENT HOTEL OPENS AT VINTAGE PARK

by admin March 20, 2009

HOUSTON — White Plains, N.Y.-based Starwood Hotels & Resorts has held the grand opening for Element Houston Vintage Park, a 123-room hotel located in Houston. The hotel gives guests the ability to customize their rooms with multi-purpose, modular furniture, swiveling flat-screen televisions, large desks with open shelving and custom-designed closets. Rooms also feature fully equipped kitchens. Hotel amenities include a lobby with a multi-story window wall, an outdoor fire pit and barbecue, free wireless Internet access, a fitness center, a pool, a technology center with a library and 456 square feet of meeting space. The project is seeking LEED certification. It is situated within Vintage Park, an 84-acre lifestyle center located at the intersection of Louetta Road and State Highway 249. It is also the first Element hotel to open in Texas. It is owned by Condor Hospitality and managed by Louisiana-based InterMountain Management. The general contractor for the build was Dallas-based Benchmark Development Corp.

March 20, 2009

Multifamily Texas

CONSTRUCTION BEGINS FOR FST AVE LOFTS

by admin March 20, 2009

EL PASO, TEXAS — Construction has begun for Fst Ave Lofts, a $3 million residential project located at 300 S. Florence St. in El Paso. The project comprises nine for-sale loft condominiums, as well as approximately 6,000 square feet of ground-floor retail and commercial space. Community amenities include a rooftop terrace, private parking, building security and resident storage space. Completion is scheduled for the end of summer or fall of this year. The project is owned and is being developed by The El Paso Project LLC. Wright & Dalbin Architects is serving as project architect, with Cumbre Builders providing general contracting services. The El Paso Project has committed to redevelop the downtown El Paso area and create a vibrant, pedestrian-friendly urban environment.

March 20, 2009

Retail Texas

FIRST RETAILERS OPEN AT PARK LANE

by admin March 20, 2009

DALLAS — The first retail stores are set to up at Park Lane, Dallas-based Harvest Partners’ $750 million mixed-use project current under construction in Dallas. On March 19, Nordstrom Rack will open a 36,000-square-foot location, followed by a 72,000-square-fooy Dick’s Sporting Goods and a 7,000-square-foot Lane Bryant/Cacique on April 3. Finally, a 20,000-square-foot The Children’s Place will open its doors on April 24. Park Lane will host the Dallas flagship locations for each of the retailers. Park Lane will celebrate its grand opening in the fall. Upon completion, the 33.5-acre project will contain 2.8 million square feet of retail, restaurants, entertainment, offices, hotels and housing.

March 20, 2009

Seniors Housing Texas

CANTEX SENIOR COMMUNITIES TO DEVELOP HEALTH SERVICE FACILITY

by admin March 19, 2009

SOUTHLAKE, TEXAS — Carrollton, Texas-based Cantex Senior Communities has acquired approximately 5.6 acres of land within Stonebridge Office Park in Southlake for the development of The Carlyle at Stonebridge Park, a high-end residential health service facility. Cantex Senior Communities, which was founded in 1978, currently owns and operates 18 senior communities in Texas. Stonebridge Office Park is an upscale medical, office and retail development located along Southlake Boulevard just west of the intersection of Davis Boulevard in Southlake. Colleyville, Texas-based Realty Capital Corp. sold the property.

March 19, 2009

Civic Texas

LONE STAR COLLEGE ACQUIRES TWO OFFICE BUILDINGS FOR NURSING PROGRAM

by admin March 19, 2009

HOUSTON — The North Harris campus of Lone Star College has acquired two office buildings located near Houston Northwest Medical Center in Houston. The buildings will be used to expand the college’s nursing program. Additions will include a nursing lab, a computer lab, a library and a student study area. A simulation lab is also being planned. The college and the medical center have a 23-year history of working together, with students rotating through the medical center. Construction is tentatively scheduled to begin in October, with completion anticipated in May 2010.

March 19, 2009

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