AUSTIN, TEXAS — Hilton Hotels Corp. has chosen Austin as a future location for its freshly-unveiled Denizen Hotels brand. Other locations include Abu Dhabi, Buenos Aires, Cancun, Istanbul, Jerusalem, Los Cabos and Mumbai. The chain of hotels is being touted as a global lifestyle brand that is targeted toward corporate and leisure guests. Initial plans for the hotel chain, such as features or size specifications of the properties, are not being released.
DALLAS — Dallas-based Faulkner Design Group has completed design work on The Heights at Park Lane Place, the residential component of the 2.4 million-square-foot mixed-use project. The Heights encompasses three residential buildings, boasting more than 320 residences. Faulkner designed the lobbies, common areas and units in the buildings as well as two aqua lounges. The 33.5-acre Park Lane Place will feature more than 700,000 square feet of retail, restaurant and entertainment space.
DALLAS — Dallas-based Cypress Equities and SRS Real Estate Partners have banded together to create a managed services division, with the goal of assisting owners of underperforming assets. The new division will offer services including asset valuations and management, disposition counseling, construction management, tenant coordination and leasing management.
FAIRVIEW, TEXAS — Construction is set to begin for the new Fairview Town Hall for the city of Fairview. The project, consisting of a 24,000-square-foot facility, will be located on 5 acres within The Village at Fairview, one component of Dallas-based MGHerring Group’s mixed-use project located at U.S. Highway 75 and Stacy Road. The new town hall will house Fairview’s operations department, as well as the new police station. The current town hall, located at 500 S. Highway 5, will remain in use as a fire station and public works department. Construction will begin in May, with completion scheduled for spring 2010. The project is being designed by Garland, Texas-based Ron Hobbs Architects. In addition, MGHerring Group has donated a 1.4-acre land parcel within The Village Fairview for the construction of the new Collin County headquarters of the Circle Ten Council of the Boy Scouts of America. The two-story, 13,240-square-foot building will include a Scout Shop retail store, meeting rooms and office space. Completion of the project is scheduled for early 2010 and will coincide with the 100th anniversary of the Boy Scouts of America. The Village at Fairview is being developed concurrently with The Village at Allen by MGHerring …
LA PORTE, TEXAS — Two land parcels have been sold within Phase II of Bayport North Industrial Park in La Porte. In the first transaction, SBS Fairmont Parkway Ltd. acquired a 5.52-acre site located in Reserve B at the corner of Fair Drive and Fairmont Parkway. In the second transaction, Bayport North LLC acquired a 5-acre site, also located in Reserve B, on Fair Drive. The buyer in the first transaction was represented by Will Stacy of The Simpkins Group and Larry Gray of The Arledge Group. The buyer in the second transaction was represented by John Clark of NAI Houston. The seller in both transactions, North Bayport Industrial Park II Ltd., was represented by B. Kelley Parker III, John Littman and Coe Parker of Cushman & Wakefield. The acquisition prices, as well as future development plans, were not disclosed.
HOUSTON — Geodis Wilson Projects USA Inc. has leased 61,780 square feet of space in Port One North from Duke Realty Corp. The company will occupy 39 percent of the 158,940-square-foot warehouse/distribution building, which is located at 8210 Humble-Westfield Rd. in Houston. The cross-docked facility features 28-foot clear ceiling heights, 42 dock doors and two drive-in doors. Patrick Rollins of CB Richard Ellis represented Geodis Wilson in the transaction; Cory Driskill providing in-house representation for Duke.
HOUSTON — Groundbreaking has occurred for a build-to-suit office building for Arch-Con Corp., a Houston-based general contractor. The three-story, 21,000-square-foot building is located on West Gray Street in Houston’s River Oaks submarket. The project was designed by locally based Ziegler Cooper Architects. The construction timetable was not released.
HOUSTON — Studio Movie Grill, a dine-in movie theater concept, has opened a new location within CITYCENTRE, Houston-based Midway Companies’ $500 million mixed-use project located in Houston. The 40,000-square-foot venue will feature eight screens with tableside dining and a full-service bar. The new location is the chain’s first all-digital theater, and it includes a state-of-the-art Dolby Digital sound system. Studio Movie Grill currently operates six other Texas locations in Addison, Arlington, Copperfield, Dallas-Royal, Lewisville and Plano. It plans to expand out of the state in 2009.
HOUSTON — Michigan-based Commercial Mortgage Capital (CMC) has arranged a $7 million loan for the refinancing of an approximately 125,000-square-foot retail center located in Houston. CMC’s Aaron Klein originated the loan through one of the company’s correspondent lenders. It carries a 7 percent fixed interest rate. The borrower was not disclosed.
AUSTIN, TEXAS — Capmark Finance has arranged $39 million in construction financing for The Offices at East Avenue, a 215,000-square-foot office project located in Austin. The project is the first phase of the 2.8 million-square-foot, mixed-use redevelopment of the former Concordia University campus. Current plans for the site call for office, retail, multifamily and hotel space in a pedestrian-friendly environment. Scott Bryant of Capmarks’ Austin office originated the loan on behalf of East Avenue Office Holdings LP. The lenders were U.S. Bank and Texas Capital.