HOUSTON — Advanced Platinum Solutions has signed a lease for 110,000 square feet of warehouse/distribution space at 10735 W. Little York in Northwest Houston. The long-term lease is at West Little York Distribution Center, which is owned and managed by Liberty Property Trust. The tenant, which provides warranty and repair services for Hewlett Packard in the U.S., has moved into its new location. Troy Collins with Holt Lunsford represented Advanced Platinum Solutions in the transaction.
SAN ANTONIO, TEXAS — Centurion Storage at O’Connor and Centurion Storage at Encino, two self-storage facilities in Northwest San Antonio totaling nearly 190,000 square feet, recently sold to a limited liability company. Located at 17402 O’Connor Rd., Centurion Storage at O’Connor spans 80,087 square feet; the 109,575-square-foot Centurion Storage at Encino sits at 21703 Encino Commons. Mark Villanueva of Marcus & Millichap’s Austin, Texas, office had the exclusive listing to market the properties on behalf of the seller, a limited liability company. Villanueva also secured the buyer.
DALLAS — A partnership formed by Dallas/Fort Worth-based Realty Capital Partners (RCP) has invested $4.9 million for the development of an inpatient rehabilitation facility in North Dallas. The 60-room facility will be located on 2.4 acres near the intersection of U.S. Highway 75 and Northaven Road. The developer, The Cirrus Group, has signed a 25-year lease with Reliant Rehabilitation Hospital Dallas to occupy the entire 64,500-square-foot building. The Cirrus Group has selected Perkins+Will as the project architect; Hill & Wilkinson is the general contractor. Demolition of the existing building is under way, and construction is expected to take 11 months.
HOUSTON — American Realty Capital Trust expects to acquire a Houston freight facility net leased to FedEx Freight this month for approximately $30.9 million. The building totals 152,640 square feet and is located in the Satsuma Station Industrial Park. The primary lease term is 15 years and provides for up to two successive 5-year extensions. The seller is PinPoint Commercial. The first-mortgage loan will be financed by a major European bank, which will represent about 50 percent of the total purchase price, with American Realty providing the remaining capital.
MCKINNEY, TEXAS — The McKinney City Council has started construction for a new $21 million, 45,000-square-foot municipal office building. The new building will replace the Collin County courthouse building, located at 210 S. McDonald St., and anchor a future city hall civic center complex. The building will house the McKinney staff offices and will be contain energy-efficient features.
FRISCO, TEXAS — Post Properties has opened Post Sierra at Frisco Bridges. The 36-acre, $250 million development offers luxury apartments as well as 30,000 square feet of retail space. Thirty-four of the 269 apartments are available for move-in as well as community amenities. Completion of the complex will be later this year, and rent ranges from about $750 to $1,640 per month. The complex offers features such as granite countertops, stainless steel appliances, wood shaker-style cabinetry, simulated wood plank flooring, ceramic tile flooring and backsplashes.
SAN ANTONIO — The Kalikow Group, on behalf of KEP Luckey Ranch Global LP, is investing in a joint venture to develop a master-planned community in the San Antonio area. Luckey Ranch Global Associates Joint Venture owns 610 acres of land located at the intersection of Loop 1604N and Highway 90 in the city’s Donut Hole area. The joint venture plans to develop 71 of those acres for commercial use, along with 2,400 single-family homes. Last year, approximately 50 percent of new home development and 30 percent of new retail development in San Antonio took place in the Donut Hole area. The development timetable for the project was not released.
TEMPLE, TEXAS — Sacramento, Calif.-based Panattoni Construction, in conjunction with Atlanta-based GRIFFCO Design/Build, has signed a contract with retailer H-E-B to construct a new 457,000-square-foot warehouse/distribution facility in Temple. The new facility will be located at 4750 Wendland Rd. It will feature a three-story office space, in addition to the distribution component. The project architect is Atlanta-based Appleby + Lacetti Architects. The groundbreaking has already occurred, and completion is slated for May 2010.
LEWISVILLE AND SAN ANGELO, TEXAS — Marcus & Millichap has brokered the sale of two Texas properties. The first is Huntington Circle, a 126-unit, Class B apartment property located at 409 West Round Grove Rd. in Lewisville. It includes a new roof and a mix of one-, two- and three-bedroom units. John Barker from Marcus & Millichap represented the seller, a private investor, and the buyer, a limited liability company. The second property is Sherwood Way Shopping Center, a 30,247-square-foot strip center located at 3329 Sherwood Way in San Angelo. The center is shadow-anchored by H-E-B and occupancy was 92 percent at the time of closing. The buyer, a private investor, was represented by Chad Knibbe from National Retail Group of Marcus & Millichap.
DALLAS, TEXAS, AND OAK BROOK, ILL. — Oak Brook, Ill.-based Inland Western Retail Real Estate Trust, a REIT sponsored by The Inland Real Estate Group of Companies, has selected the Dallas office of Holliday Fenoglio Fowler (HFF) to assist the company in the refinancing of its maturing debt for retail properties located across the country. HFF has been working with Inland since the fourth quarter of 2008 and has already closed 10 loan transactions for a total of approximately $120 million. Assets already refinanced include Preston Trail Village in Dallas, Texas; Southlake Town Square Block 22 in Southlake, Texas; The Shops at Park Place in Plano, Texas; The Village Shoppes at Simonton in Lawrenceville, Ga.; Shoppes of New Hope in Dallas, Ga.; and Hickory Ridge in Hickory, N.C. HFF currently has secured approximately $75 million in committed financing, which is expected to close in the next 30 to 60 days, and $300 million in debt is in various stages of negotiations for refinancing and long-term extensions.
