DEER PARK, TEXAS — The City of Deer Park has purchased almost 8.72 acres of land at 6406 Highway 225, near the intersection of Luella Avenue and Pasadena Freeway, in Deer Park. The City will use the land for an expansion of the fire department’s training facilities. The current training site is located adjacent to the newly purchased site. Bobby Grisham of Grisham Associates represented the City; Doug Bates and Joel Hill of Henry S. Miller Brokerage LLC represented the seller, Monarca Corporation of Seabrook Texas.
Texas
GRAND PRAIRIE, TEXAS — Dallas-based Henry S. Miller Brokerage (HSMB) has arranged the sale of a 2-acre land parcel, located at 3110 Roy Orr Blvd. in Grand Prairie. The property currently contains a 2,500-square-foot retail building leased as a Supreme Golf. The property was acquired by TSS Real Estate Holdings, which plans to use the site for future development, which could possibly include a service station or fast food restaurant. The seller was Edwin Peterman, the owner of Supreme Golf. HSMB’s Pete Richardson and Andrew Richardson negotiated the transaction. The acquisition price was not disclosed.
HOUSTON — Phoenix-based Northborough Corporate LLP has selected Houston-based Moody Rambin Interests as the exclusive leasing agent for one of its Houston office properties. Moody Rambin will oversee leasing of 12700 Northborough Drive, a vacant six-story building located in the city’s Greenspoint submarket that contains 120,733 square feet of space. Moody Rambin’s Terri Torregrossa and Mark Preston will oversee the assignment.
HOUSTON — Matthew Deal and Mark Sikes, formerly of Lewis Realty Advisors have launched a new firm, Deal • Sikes & Associates. Headquartered in Houston, the new company will focus on real estate valuation and counseling. The firm provides expert opinions of market property values in court proceedings, and it also provides valuation and counseling services to clients for traditional appraisal project, including, lending, tax estate planning, ad valorem tax, bankruptcy, foreclosure and other services. Due to the current economy, the firm will also provide counseling to clients wishing to acquire property and to lenders seeking advice for asset management and property disposition. The new company will be located at 3901 Bellaire Blvd.
HOUSTON — The Lone Star College System has acquired a significant portion of the Hewlett Packard North Campus, located at the intersection of State Highway 249 and Louetta Road in northwest Houston. The college purchased eight major buildings totaling 1.2 million square feet, as well as parking garages and other support structures for the buildings. The campus had previously housed Compaq’s world headquarters. The purchase will provide the college with space for a new University Center for north Harris County, an instructional satellite campus, a Corporate College conference and training facility, and College System administration and support space. Classes will be held at the location starting in spring 2010. The new campus is more than double the size of school’s largest campus, Lone Star College – CyFair, which is located in Cypress, Texas. Terms of the deal were not released.
HOUSTON — Buffalo Wild Wings Bar & Grill has leased space at Greenway Commons in Houston for a new restaurant. It will occupy 5,800 square feet at the center, which is located at the corner of Weslayan Street and Richmond Avenue, near Greenway Plaza. Alex Makris and Jazz Hamilton of CB Richard Ellis represented the landlord, Dallas-based Trammell Crow Co. The tenant was represented by Matt Keener, Russell Janicek and Mark Raines, also of CB Richard Ellis. The restaurant’s opening date was not released.
FRISCO, TEXAS — Two new leases have been signed at Frisco Square, an urban master-planned development located at the intersection of Main Street and the Dallas North Tollway in Frisco. First, Frisco Exploration has signed a lease for 4,600 square feet of office space at 6136 Frisco Square Blvd. Jeff Eckert and James Esquivel of Jones Lang LaSalle — leasing agents for the project’s office component — represented Frisco Square in negotiations. Additionally, Healthy Massage has signed a lease for 1,000 square feet of space within the project’s retail component. Interior build-out for the space, which will be operated by Sandi Li of Plano, Texas, has already commenced. Casi Fricks of Frisco Square provided in-house landlord representation, while Sunny Hollister represented the tenant. Frisco Square is located directly across from Pizza Hut Park. It features retail, office, residential and park space, in addition to Frisco City Hall and a library.
DALLAS — Commercial real estate professionals Tanya Little and Angel Benschneider have formed Hart Advisors Group, a full-service real estate advisory company. The new company is based in Dallas. It specializes in commercial property, asset management and business advisory services. Hart will work with owners, institutional clients, venture capital and pension funds, high net-worth individuals and banks that are looking to outsource management of retail, multifamily, office and industrial properties. Prior to forming Hart Advisors Group, Little was the COO of RBC Capital Markets’ Real Estate Mortgage Capital. Benschneider recently managed Texas development operations for The Bourn Group.
GRAND PRAIRIE, TEXAS — Arlington, Texas-based SCM Real Estate has brokered a new lease at Brookhollow Riverside, a Class A office property located in Grand Prairie. Lea+Elliott will occupy 8,200 square feet of the 118,131-square-foot building, which is located 2505 N. State Highway 360. SCM’s Theron Bryant represented the undisclosed landlord. The tenant was represented by Bryan Graham of CB Richard Ellis. Terms of the lease were not disclosed.
PASADENA, TEXAS — El Rincon Guanaco Restaurant has opened a 3,136-square-foot location within Parkview West, a retail property located at the corner of Blueberry Lane and Spencer Highway in Pasadena. Kay Walker of Centro Properties Group provided in-house representation on behalf of the landlord in lease negotiations. Terms of the lease were not disclosed.