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.
DALLAS — Dallas-based TIG Real Estate Services has brokered a long-term lease for a 419,626-square-foot industrial building located at 8901 Forney Rd. in Dallas. The building features 28-foot clear ceiling heights, rail access and dock-high loading. It is located within the approximately 200-acre Eastpoint Business Park. TIG’s Tom Smolik and Michael Grant represented the landlord, Easpoint Business Center. The tenant, Shippers Warehouse, was represented by Al Leon and Trip Leon of Leon Brothers Real Estate. Shippers Warehouse will use the facility as its headquarters.
HOUSTON — Jacksonville, Fla.-based Regency Centers has leased 24,772 square feet of space at Weslayan Plaza, a 355,761-square-foot shopping center located at 5586 Weslayan St. in Houston, to Spec’s Liquor & Finer Foods. The retailer, a Houston-area chain that sells alcohol, cigars and gourmet food, will lease the space formerly occupied by Linens ‘N Things. Weslayan Plaza is anchored by a 51,960-square-foot Randall’s supermarket; additional tenants include Ross Dress For Less, Michael’s, Chuck E. Cheese, Office Max and Walgreens. Terms of the lease were not disclosed.
HOUSTON — The Houston office of CB Richard Ellis (CBRE) has brokered a build-to-suit lease agreement in Houston. A.E.N. Farrell LP dba TNRG has agreed to construct an approximately 98,850-square-foot flex warehouse facility at the northwest corner of Aldone Westfield and Farrell roads for Chicago-based LKW Best Automotive Corp. CBRE’s Bill Rudolf represented the tenant; Steve Adkisson and Jim Nelson of TNRG provided in-house representation for the landlord. The construction timetable was not released.
HOUSTON — Houston-based Transwestern has leased 65,371 square feet of industrial space at Park 288 in Houston. Sharps Compliance Corp. will occupy 65,371 square feet of industrial space at the center, a two-phase, 567,675-square-foot industrial complex located at the intersection of Reed Road and Highway 288. Phase I of Park 288, which was developed by Transwestern, comprises three warehouse/office buildings that total 268,425 square feet. Transwestern is currently marketing land for the second phase of construction. Park 288 totals approximately 50 acres.
SAN ANTONIO — The Environmental Protection Agency has awarded Energy Star certification for Fountainhead Business Park II, a three-story office building located at 4545 Horizon Hill Rd. in San Antonio. The project is part of a two-building office campus that is managed by Grubb & Ellis Realty Investors on behalf of one of its private client investors. The building is situated on 12.4 acres; it includes approximately 89,000 square feet of rentable space and 1,100 parking spaces. It is currently fully occupied by Boston-based Genzyme Corp.
SAN ANTONIO — The San Antonio office of Skanska USA Building has completed construction for Methodist Stone Oak Hospital, a new medical facility located on Sonterra Boulevard in San Antonio’s Northwest submarket. The hospital, which was designed by HOK Architects, includes 132 beds and is master-planned for as many as 350 beds. The design of the hospital includes an outpatient service mall entrance that provides easy access to various portals of care, including women’s services, admissions, treatment and testing, cardiology and outpatient surgery. The design also provides for easier overall navigation, specially designed waiting rooms and patient rooms that allow nurses to view patient rooms from their stations. Last fall, Skanska completed construction of a five-story, 120,000-square-foot office building at Methodist Stone Oak Hospital. The first floor of the building houses 25 to 30 administrative offices, two conference rooms, a chapel and a dining area. The remaining four floors are currently shell space and will be eventually finished for doctors’ offices.
MANSFIELD, TEXAS — Evansville, Ind.-based Brake Supply Co. has acquired a 78,000-square-foot warehouse located in Mansfield. The facility, which is situated on 8.5 acres within the 1187 Business Park at 2115 FM 1187, will be used by the company as a new operations and distributions facility for the Dallas/Fort Worth Metroplex. Brake Supply Co. was represented by Jim Hazard and Todd Hawpe of Dallas-based Henry S. Miller Brokerage. The seller, California-based Robhanna & Waltco, was represented by Jeff Givens and Amy Baker of Fort Worth-based NAI Huff Partners. The property is part of a larger parcel that was divided for the sale. A 64,170-square-foot building and 13.86 acres of land still remain for sale.
HOUSTON — Holliday Fenoglio Fowler (HFF) has arranged an $8.8 million loan for the Concourse at Westway, a two-story, 129,724-square-foot office building located on the West Sam Houston Tollway in Houston. The Class A, multi-tenant facility was constructed in 1999. It is currently fully occupied by five tenants, including Stewart Title Co. Eagle Energy Partners and Nextel of Texas. It is located within the 150-acre Westway Park mixed-use development. Todd Sugimoto of HFF’s Los Angeles office and Jeff Knowles of the firm’s Houston office originated the financing on behalf of Guggenheim Real Estate. Terms of the loan include a 3-year term with a floating interest rate. Proceeds will be used to replace an existing loan that matured in December 2008.