ARLINGTON, TEXAS — Arizona-based MC Companies has acquired the management portfolio of Arlington-based Encore Management Co. as part of an effort to increase the company’s Texas presence. The portfolio comprises more than 7,000 units of multifamily housing located across the state of Texas that are currently managed by Encore. As part of the transaction, the portfolio will be brought under the new division MC Residential of Texas; Encore’s, Jackie Jackson, will remain as president of the new division. The rest of Encore’s management and staff will also remain in place.
GEORGETOWN, TEXAS — Groundbreaking has occurred for the first phase of Austin Avenue Professional Plaza, a medical office complex located at 3201 S. Austin Ave. in Georgetown. Phase I will consist of a three-story, 95,000-square-foot building. The project was designed by San Antonio-based Beaty Palmer. The project is already 70 percent pre-leased by a tenant roster that includes Austin Radiological Associates, Clinical Pathology Labs, Gallagher’s Pharmacy, Georgetown Medical Clinic, Urology Associates, Foot Associates of Central Texas, Austin Gastroenterology, Central Texas Surgical Associates, Georgetown ENT and Georgetown Plastic Surgery. Other tenants will include internal medicine, neurosurgery and an urgent care clinic. The building will also contain space for a bank, a café or convenience store and ancillary services. Completion is scheduled for the end of 2009 or the beginning of 2010. The second phase of the project will include the construction of a second 60,000-square-foot building.
FORT WORTH AND DENTON, TEXAS — Irving, Texas-based The LaSalle Group is developing two new locations for its Autumn Leaves senior care brand in Texas. The new facilities will be located at 7100 Dutch Branch Rd. in Fort Worth and on Brinker Road in Denton. They will total approximately 26,000 square feet each and will feature 36 to 38 units, as well as 10,000 square feet of outside space. Amenities will include gardening areas and greenhouses, games rooms, and living rooms. Autumn Leaves specializes in memory care and assisted living services for seniors suffering from Alzheimer’s disease and dementia. The LaSalle Group is developing both projects; a partnership between LaSalle and Silverado Interest is the owner. The project architect for both facilities is Curtis Group Architects and the general contractor is Lake Superior Contracting, which is a wholly owned subsidiary of The LaSalle Group. The Fort Worth facility is under construction and is slated for a June completion. The Denton facility will break ground in March, with completion slated for November.
SAN ANTONIO — CB Richard Ellis (CBRE) has brokered the sale of Petroleum Tower, a two-building office property located at 8626 and 8700 Tesoro Dr. in San Antonio. The property consists of twin eight-story buildings totaling 112,315 and 111,042 square feet, with a 10,931-square-foot atrium connecting them. Property amenities include a restaurant, covered parking and fiber optic cable access. The tenant roster includes Lockheed Martin Corp., CYTO Laboratories, the Internal Revenue Service and AT&T Mobility. CBRE’s Todd Mills led a team of brokers from the firm’s San Antonio and Austin, Texas, offices in completing the sale. The buyer was James Cotter, a local private investor. The acquisition price was not disclosed.
SAN ANTONIO — Addison, Texas-based SRS Real Estate Partners has arranged a 12,500-square-foot retail lease at The Forum Shopping Center, located at the intersection of Interstate 35 and FM 1604 in San Antonio. The space will be occupied by Furniture Factory Warehouse, which currently has six additional locations. Its newest store is scheduled to open in spring. Todd Wallace and Robert O’Farrell of SRS represented the tenant, while Craig Garansuay of UCR represented the landlord.
SUGAR LAND, TEXAS — Fashion retailer Charming Charlie will open a new location within Sugar Land Town Square, a mixed-use project currently being developed by Planned Community Developers Ltd. (PCD) in Sugar Land. The retailer will occupy 6,640 square feet at 16250 City Walk and plans to open in late March. This newest location will bring the total number of Charming Charlie locations in the Houston metropolitan area to nine. The retailer also has locations in San Antonio, Dallas and Austin. Charlie Adams provided in-house representation for PCD in the lease transaction.
FAIRVIEW, TEXAS — Little Rock, Ark.-based Dillard’s has begun construction for a new 200,000-square-foot store located at The Village at Fairview, a mixed-use development located in Fairview that is being developed by Dallas-based MGHerring Group. Dillard’s will serve as one of three co-anchors for the retail component of the project; the other anchors, JCPenney and Macy’s, broke ground during the fourth quarter of 2008. The 1 million-square-foot retail component of The Village at Fairview is scheduled to open in August. Additional tenants include The Container Store, Village Roadshow Gold Coast Cinema and Whole Foods Market. Plans ultimately call for a 200,000-square-foot office building, approximately 675 multifamily units and a 280-room hotel with an adjoining 80,000-square-foot conference center, in addition to the retail space. The Village at Fairview is part of a 3 million-square-foot mixed-use project MGHerring is developing at the corner of U.S. Highway 75 and Stacy Road. The other part of the project, The Village at Allen, opened in October 2008. Once The Village at Fairview is complete, the two projects will function as a single, 400-acre mixed-use center that will contain 2 million square feet of retail space and 1 million square feet of office, residential and hotel …
HURST, TEXAS — Dallas-based Henry S. Miller Brokerage (HSMB) has arranged the sale of Cavender Manor, a 74-unit apartment community located in Hurst. The property was constructed in 1965; it features on-site laundry facilities and a swimming pool. HSMB’s Richard Keeling and John St. Clair represented the seller, San Diego National Bank. The buyer, Texas-based Cavender Manor LLC, was represented by Maurice Benita of the Beverly Hills, Calif., office of Keller Williams. The acquisition price was not disclosed.
GARLAND, TEXAS — Dallas-based TIG Real Estate Services has brokered the sale of a 3,984-square-foot industrial building located at 442 Action St. in Garland. TIG’s Ryan Wolcott and Michael Grant represented the seller, Primo’s Unlimited. The property was acquired by JKT Management LLC for an undisclosed amount.
SEAGOVILLE, TEXAS — A Dallas-based development group has sold the 51,835-square-foot Seagoville Corners shopping center to a Texas-based limited partnership for an undisclosed amount. The 2-year-old center, which is located on North Highway 175 in Seagoville, is populated by Bealls, Dollar Tree, CATO, Sally Beauty and Hibbett Sports. Brad and Gavin Kam of Dallas-based TKG represented the seller, and the buyer was represented by Quine & Associates of Richardson, Texas.