AUSTIN, TEXAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has completed the sale of Southpark 3 and Southpark 4, two Austin industrial properties totaling 176,000 square feet. Located at 4209 and 4129 S. Industrial Dr., the properties are a combined 89 percent leased by a tenant roster that includes The Whitley Printing Company, BlueLinx Corp., Crawford Electric Supply and Austin Tele-Services. An adjacent 4.2-acre land parcel was included in the sale. Jud Clemens and Robby Rieke of HFF represented the seller, an affiliate of General Electric Pension Trust that was advised by Stamford, Conn.-based GE Asset Management. The buyer was Boston-based AEW, which made the purchase on behalf of AEW Value Investors II, the company’s value-added real estate fund. The acquisition price was not disclosed.
Texas
TOMBALL, TEXAS — Development is under way for a 14,000-square-foot outpatient surgery center, located on the campus of Tomball Regional Medical Center in the Houston suburb of Tomball. Developed by Chicago-based Lillibridge, the one-story facility will contain four operating rooms, as well as expansion capability. The building will be owned by a joint venture between Tomball Regional Medical Center and a group of physician owners. Completion is scheduled for April 2009.
HOUSTON — Santa Ana, Calif.-based Grubb & Ellis Realty Investors has acquired Oak Park Office Center III, a two-story, 151,000-square-foot office building located in Houston’s Westchase submarket. Situated on 11.4 acres at 6001 Rogerdale Rd. within the 225-acre Oak Park at Westchase office park, the Class A building is occupied in its entirety by Jacobs Engineering Group, which is subject to a long-term, triple-net lease. It includes 855 parking spaces. The property was developed in 2008 by the Houston office of Myers Crow & Saviers, which is also the seller in the transaction. It was represented by Robert Williamson, Jeff Hollinden and Barbara Guffey of the Houston office of Holliday Fenoglio Fowler (HFF). The seller was also represented by HFF in the 2004 and 2008 sales of Oak Park Office Center I and II. The buyer made the acquisition on behalf of tenant-in-common investors.
GRAND PRAIRIE, TEXAS — The Dallas office of Hendricks & Partners (H&P) has brokered the sale of Meadow Green Apartments, a 100-unit multifamily community located at 3001 Avenue K East in Grand Prairie. The property was originally constructed as a residential condominium project, and is situated on the Great Southwest Golf Course. All of the unit interiors have been recently upgraded. Tom Burns and Jay Gunn of H&P represented the seller, Meadow Real Estate Investors, Ltd., of Portland, Ore., and Las Vegas. The buyer, El Segundo, Calif.-based DMEP Meadow Green, acquired the property for an undisclosed amount.
FORT WORTH, TEXAS — The grand opening has been held for the corporate headquarters of Peregrine Point, located at 13537 Heritage Pkwy. in Fort Worth. Situated within the AllianceTexas industrial development at the southeastern edge of Fort Worth Alliance Airport, the facility will comprise 10,000 square feet of offices in front of two connected aircraft hangars. Peregrine Point, a startup aviation company, operates passenger and cargo flights. It presently owns two planes, a Gulfstream 450 and a Boeing 737-700C. The headquarters was designed by Roanoke, Texas-based RGA Architects and Oklahoma City-based FSB Aviation.
HOUSTON — NAI Houston has brokered the lease of a 30,000-square-foot industrial building located at 2510 Beltway 8 in Houston. John Clark and Darren O’Conor of NAI represented the tenant, Global Tech Motors, in the transaction. The landlord, 2510 Sam Houston Parkway LLC, was represented by Greg Williams of Pasadena, Texas-based Qualified Properties. Terms of the lease were not disclosed.
WYLIE, TEXAS — Dallas-based Henry S. Miller Brokerage (HSMB) has completed the acquisition of a 1.45-acre pad site, located at the intersection of FM 544 and Highway 78 in Wylie. The parcel is located directly across from an Albertson’s, east of a Chili’s and west of a post office. It was subsequently split into a 50,000-square-foot tract and a 13,000-square-foot tract, the latter of which was immediately sold to an adjacent property owner to accommodate a parking lot expansion. Tom Grunnah of HSMB represented the buyer, Dallas-based Wylie Commerce Ltd. The seller, the Unites States Postal Service, was represented by Rick Tiller of the Dallas office of Grubb & Ellis. Future plans for the site were not disclosed.
FORT WORTH, TEXAS — The Dallas-based Department of Veterans Affairs (VA) North Texas Health Care System, along with the Dallas office of BremnerDuke Healthcare Real Estate, have broken ground for a new VA Outpatient Clinic in Fort Worth. Located at 2031 SE Loop 820, the new facility will total 239,256 square feet. Once it opens in 2010, it will be the VA’s largest leased space. It is replacing the existing 48,691-square-foot Fort Worth Outpatient Clinic located at 300 West Rosedale. It is expected that the new VA clinic will handle a workload of 165,238 visitors annually by 2025.
DALLAS — Business law firm Scheef & Stone has relocated its corporate headquarters to Lincoln Plaza, located at 500 North Akard in downtown Dallas. The company will occupy 25,436 square feet on the 27th floor of the tower. Scheef & Stone is relocating from its previous Dallas office within Preston Center, located at 5956 Sherry Lane. The company expects to move to its new location by the end of the month. William Hale of the Dallas office of CB Richard Ellis represented the landlord, The California State Teachers’ Retirement System. The tenant was represented by Bo Bond and Brooke Armstrong of Jones Lang LaSalle. Terms of the lease were not disclosed.
PEARLAND, TEXAS — Chattanooga, Tenn.-based CBL & Associates Properties has held the grand opening for one of the anchors for the retail component of Pearland Town Center, a 1.2 million-square-foot mixed-use center located in the Houston suburb of Pearland. The store, a 140,000-square-foot Dillard’s, will join co-anchor Macy’s in the 718,000-square-foot, open-air lifestyle center. Other tenants include Barnes & Noble, Forever 21, Coach, Pac Sun, Red Robin and Mimi’s Café. The center held its grand opening in July.