COLLEYVILLE, TEXAS — The grand opening has been held for Main Street Chop & Fish House, a new steak and seafood restaurant located in Colleyville. The restaurant is situated on the second floor of 62 Main St. within The Village at Colleyville mixed-use development. It features a bar, a private dining room and tall windows that overlook the Main Street-style project. The Village at Colleyville. It includes two- and three-story buildings containing a mix of retail, restaurant, office and residential uses.
FORNEY, TEXAS — The Dallas office of Henry S. Miller Brokerage (HSMB) has negotiated the purchase of approximately 276 acres of land located at 8975 FM 740 in Forney. The property fronts Interstate 20. Upon its purchase, a portion of the property was converted into Cousins Paintball Park. The remaining acreage will be held for future investment purchases. Ben Chien of HSMB represented the buyer, 8975 Farm to Market Rd Property LLC; Manju Menon of Texas Commercial Real Estate Services represented the undisclosed sellers. The acquisition price was not disclosed.
HOUSTON — CB Richard Ellis (CBRE) has completed the sale of a 13,500-square-foot industrial property located at 2701 Appelt Dr. in Houston. Glynn Mireles and Billy Gold of CBRE represented the seller, Rolling Creek Ltd., while Michael Palmer and John Simons, also of CBRE, represented the buyer, STL Interest. The acquisition price was not disclosed.
IRVING, TEXAS — Santa Ana, Calif.-based Grubb & Ellis Realty Investors has disposed of Royal Ridge Tech, an approximately 44,000-square-foot office property located in Irving. The single-story structure is situated on approximately 3.6 acres of land at 8333 Royal Ridge Parkway. Grubb & Ellis, which sold the property on behalf of tenant-in-commone investors, was represented by Kacy Jones, Byron McCoy and Sean Dalton of Holt Lunsford Commercial. The buyer, Texas-based TXVT Development, was represented by Nora Hogan and Robert Deptula of Houston-based Transwestern. The sale was part of a two-property 1031 exchange that also included Beltline, a nearby office property that totals approximately 40,000 square feet.
ABILENE, TEXAS — Marcus & Millichap has completed the sale of the Hampton Inn & Suites Abilene I-20, a 72-room hotel located in Abilene. Michael Yu and Rahul Bijlani of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. The duo also represented the buyer, another undisclosed private investor. The acquisition price was not released.
ARLINGTON, TEXAS — SCM Real Estate Services has brokered the sale of an approximately 4.3-acre development site, located at 721 W. Highlander Blvd. in Arlington, for the construction of a new specialty surgery center. The facility will be named Baylor Orthopedic & Spine Hospital of Arlington; it will total two stories and 57,000 square feet. The site is located adjacent to USMD Hospital. Gary Walker and Renee Efimoff of SCM Real Estate represented the buyer, Arlington Orthopedic Associates, in the land transaction. Michael Bailey of Windstar Development represented the seller. The project’s investment and management team includes Arlington Orthopedic Associates, United Surgical Partners and Baylor Healthcare System. The project is being developed by BremnerDuke Healthcare Real Estate.
ALLEN, TEXAS — Cadence McShane Construction Co. has been selected to build a 360,000-square-foot mixed-use project at The Village at Allen, located at the corner of U.S. Highway 75 and Stacy Road in Allen. The project will comprise a three-level parking deck, as well as 45,978 square feet of ground-floor entertainment and retail space. Architecture+ is providing design services, and completion is scheduled for September. The Village at Allen is part of a 3 million-square-foot mixed-use project currently being developed in Allen and Fairview, Texas, by MGHerring Group. The Village at Allen held its grand opening in October 2008. The Village at Fairview, which is the other half of the project, is currently under construction.
BEAUMONT, TEXAS — The Houston office of Grubb & Ellis has arranged two leases on behalf of ENGlobal Corp. in Beaumont. The first lease is for a new 52,518-square-foot office building located at 3155 Executive Blvd. within Executive Business Plaza. The building was constructed as a build-to-suit by Clay Development & Construction, and will be used for ENGlobal’s engineering and administrative operations. It replaces a building located on the same site that was destroyed by Hurricane Rita in 2005. ENGlobal is currently moving into the building. The second lease is for 80,808 square feet of industrial space located at 225 Portwall St. in Portwall Distribution Center II. The company is expanding its fabrication operations into the new space from a previous nearby location that totaled 62,641 square feet. ENGlobal will relocate to the space in March. Grubb & Ellis’ Robert Bantly and Scott Fikes represented ENGlobal in both transactions. The landlord in the second transaction, The Carson Companies, was represented in-house.
TULSA, OKLA. — KeyBank Real Estate Co. had secured $11.3 million in Fannie Mae financing for two multifamily properties located in Tulsa. In the first transaction, KeyBank arranged $8 million for the refinancing of Pomeroy Park Apartments, a 230-unit, Class B property. The borrower was Pomeroy Park Apartments LLC. In the second transaction, KeyBank arranged $3.3 million for the refinancing of Southern Hills Villa, a 107-unit, Class B property. The borrower was Southern Hills Villa LLC. Both properties were acquired out of distress several years ago and subsequently underwent substantial capital improvements. Terms of the loans were not disclosed.
SUGAR LAND, TEXAS — HE Capital will complete a $4 million renovation plan at 14141 Southwest Freeway, a 515,000-square-foot, Class A office building located in Sugar Land. Improvements will be made to the building’s front entrance, lobby and elevators. HE is also renaming the property The Lake Corporate Center to reflect the 6-acre Sugarcreek Lake that is located adjacent to the campus. Construction is expected to commence in spring. Goulas & Associates will be serving as project architect, with Smith Commercial providing general contracting services. The Lake Corporate Center is currently 100 percent occupied by Unocal/Chevron but will be vacant in April 2010 when the tenant relocates to the Houston central business district upon the expiration of its lease. Chip Colvill and Michael Anderson of Colvill Office Properties have been retained by HE Capital to market the property. The Lake Corporate Center is situated on an 8.9-acre, landscaped campus. It features a teleconference facility with hi-definition audio-visual equipment, a recreation room, fitness facilities, a 216-seat auditorium and a 50-seat cafeteria.