LA PORTE, TEXAS — Two land parcels have been sold within Phase II of Bayport North Industrial Park in La Porte. In the first transaction, SBS Fairmont Parkway Ltd. acquired a 5.52-acre site located in Reserve B at the corner of Fair Drive and Fairmont Parkway. In the second transaction, Bayport North LLC acquired a 5-acre site, also located in Reserve B, on Fair Drive. The buyer in the first transaction was represented by Will Stacy of The Simpkins Group and Larry Gray of The Arledge Group. The buyer in the second transaction was represented by John Clark of NAI Houston. The seller in both transactions, North Bayport Industrial Park II Ltd., was represented by B. Kelley Parker III, John Littman and Coe Parker of Cushman & Wakefield. The acquisition prices, as well as future development plans, were not disclosed.
HOUSTON — Geodis Wilson Projects USA Inc. has leased 61,780 square feet of space in Port One North from Duke Realty Corp. The company will occupy 39 percent of the 158,940-square-foot warehouse/distribution building, which is located at 8210 Humble-Westfield Rd. in Houston. The cross-docked facility features 28-foot clear ceiling heights, 42 dock doors and two drive-in doors. Patrick Rollins of CB Richard Ellis represented Geodis Wilson in the transaction; Cory Driskill providing in-house representation for Duke.
HOUSTON — Groundbreaking has occurred for a build-to-suit office building for Arch-Con Corp., a Houston-based general contractor. The three-story, 21,000-square-foot building is located on West Gray Street in Houston’s River Oaks submarket. The project was designed by locally based Ziegler Cooper Architects. The construction timetable was not released.
HOUSTON — Studio Movie Grill, a dine-in movie theater concept, has opened a new location within CITYCENTRE, Houston-based Midway Companies’ $500 million mixed-use project located in Houston. The 40,000-square-foot venue will feature eight screens with tableside dining and a full-service bar. The new location is the chain’s first all-digital theater, and it includes a state-of-the-art Dolby Digital sound system. Studio Movie Grill currently operates six other Texas locations in Addison, Arlington, Copperfield, Dallas-Royal, Lewisville and Plano. It plans to expand out of the state in 2009.
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.