Texas

STARPOINT COMMERCIAL ACQUIRES THE TOWER COMPLEX

by admin March 26, 2009

FORT WORTH, TEXAS — Beverly Hills, Calif.-based StarPoint Commercial Properties has acquired the commercial component of The Tower Complex, located at 500 Throckmorton St. in downtown Fort Worth. Included in the sale was two levels of retail and Class A office space at the base of The Tower that total approximately 73,000 square feet, as well as 109,000 square feet of retail and office space located in the Annex, which is situated directly across the street from The Tower. Notable tenants include Capital One, Chesapeake Energy, Cantina Laredo and Texas Capital Bank. The Tower also contains 295 residential condominiums over 37 floors that were not included in the sale. StarPoint Commercial Properties provided in-house representation in the transaction. Tom Salanty with the Dallas office of Cushman & Wakefield represented the seller, TLC Green Property Associates. The acquisition price was not disclosed.

March 26, 2009

DUNHILL PARTNERS SELLS SHOPPING CENTER, PURCHASES ANOTHER

by admin March 26, 2009

SAN MARCOS AND LEAGUE CITY, TEXAS — Dallas-based Dunhill Partners has disposed of San Mar Plaza, a 185,092-square-foot community shopping center located in San Marcos. The property was 100 percent occupied at the time of closing by a tenant roster that is anchored by Hobby Lobby, Tractor Supply and Hastings Entertainment. Additional tenants include Dollar General, Payless ShoeSource and Verizon Wireless. The property was acquired by San Francisco-based Ratel Value Fund I. In addition, Dunhill Partners has acquired South Shore Marketplace, a 32,013-square-foot community shopping center located in League City. Tenants at the property include Subway, AT&T, Century 21 and Chase Bank. The center is shadow-anchored by a Kroger. The seller was Jacksonville, Fla.-based Regency Centers. The acquisition prices in both transactions were undisclosed.

March 26, 2009

Hospitality Texas

LAND PURCHASED FOR FUTURE SLEEP INN

by admin March 26, 2009

DALLAS — Coppell Beer & Wine Inc. has acquired a 1.45-acre land parcel, located at 3203 Kirnwood St. in Dallas, for the construction of a new Sleep Inn & Suites hotel. The site is situated near a Walmart Supercenter and Wheatland Marketplace, a fully occupied retail center. Randall Chrisman of The Chrisman Company represented the buyer. Thad Beckner of locally based Henry S. Miller Brokerage represented the seller, Newcastle Plaza Associates LP. The construction timetable was not released.

March 26, 2009

Retail Texas

INLAND WESTERN REIT SECURES $9.2 MILLION FOR RETAIL PURCHASE

by admin March 25, 2009

SOUTHLAKE, TEXAS — Inland Western REIT has secured $9.2 million in financing for the acquisition of Block 22 of Southlake Town Square, located in the Dallas/Fort Worth suburb of Southlake. Block 22 is a 35,436-square-foot retail property situated on approximately 4 acres at 1256 Main St. It was 96 percent leased at the time of closing to a tenant roster that includes Charles Schwab, FedEx Office and AT&T. Block 22 is the most recent expansion of the 807,000-square-foot Southlake Town Square mixed-use development. Kevin MacKenzie with the Dallas office of Holliday Fenoglio Fowler (HFF) arranged the financing on behalf of Inland through American Bank of Texas. Last month, HFF also originated a $13.97 million loan between the lender and the borrower for Preston Trail Village, a retail property located in Dallas’ Far North submarket.

March 25, 2009

Retail Texas

JONNI INVESTMENT ACQUIRES RETAIL CENTER

by admin March 25, 2009

SAGINAW, TEXAS — Jonni Investment Co. has acquired a 10,500-square-foot neighborhood retail center located at the intersection of Saginaw Boulevard and Cambridge Drive in Saginaw. The property is occupied by tenants such as Subway, Little Caesars Pizza, MetroPCS and Access Dental. Eddie Liebman of The Weitzman Group handled negotiations between the seller, Saginaw Investments, and the buyer. The acquisition price was not disclosed.

March 25, 2009

Multifamily Texas

M.J. SPOOR ARRANGES $5.8 MILLION FANNIE MAE LOAN

by admin March 25, 2009

PASADENA, TEXAS — Houston-based M.J. Spoor & Co. has arranged $5.8 million in fixed-rate, permanent financing for Maple Trail Apartment & Townhomes, a 202-unit multifamily community located in Pasadena. The lender in the transaction was Fannie Mae. The borrower and the terms of the loan were not disclosed.

March 25, 2009

Industrial Texas

JV COMPLETES $120 MILLION RAIL TERMINAL

by admin March 24, 2009

SAN ANTONIO — A joint venture between Chicago-based First Industrial Realty Trust and San Antonio-based 4M Properties has completed a $120 million Rail Intermodal Terminal for the Union Pacific Railroad in San Antonio. The facility is located on Interstate 35 and has access to the Union Pacific’s East-West and North-South lines. It is capable of handling up to 250,000 container lifts annually. Future plans call for the construction of a business park adjacent to the terminal.

March 24, 2009

Healthcare Texas

BREMNERDUKE BEGINS ORTHOPEDIC AND SPINE HOSPITAL

by admin March 24, 2009

ARLINGTON, TEXAS — BremnerDuke Healthcare, a division of Indianapolis-based Duke Realty Corp., has commenced development of Baylor Orthopedic & Spine Hospital of Arlington (BOSHA), a 55,129-square-foot medical facility located at 721 W. Highlander Blvd. in Arlington. Situated on 4.4 acres, the two-story facility features a 24-bed inpatient surgical center, six operating rooms, a 24-hour emergency department, diagnostic imaging equipment and administrative offices. The facility is being developed by BremnerDuke in conjunction with Arlington Orthopedic Associates. It will be owned by BremnerDuke Healthcare Real Estate and AOA Arlington Development LP, and will be leased to BOSHA. The general contractor is Dallas-based Hill & Wilkinson and the project architect is locally based Ascension Group Architects. Completion is scheduled for the first quarter of 2010. BOSHA is owned by a joint venture between Baylor Health Care System, United Surgical Partners International and Arlington Orthopedic Associates.

March 24, 2009

Civic Texas

NEW BUILDING BREAKS GROUND AT BROOKHAVEN COLLEGE

by admin March 24, 2009

FARMERS BRANCH, TEXAS — Groundbreaking has occurred for the new Workforce and Continuing Education Building at Brookhaven College in Farmers Branch. The $6 million project, which was designed by Dallas-based SHW Group, consists of a 28,500-square-foot education facility. It will feature more than 15 classrooms, a computer lab, four multipurpose rooms, two conference rooms, a lobby area, break stations, offices, and outdoor patios and gardens. The building will also contain sustainable elements, including the use of local construction materials, low VOC paints and sealants, a reflective rooms and north-facing glass windows. Completion is scheduled for January 2010.

March 24, 2009

Office Texas

GRUBB & ELLIS SECURES 145,000-SQUARE-FOOT INDUSTRIAL LEASE

by admin March 23, 2009

HOUSTON — John Nicholson and Doug Nicholson of Grubb & Ellis’ Houston office have secured an approximately 145,000-square-foot lease at Portwall Distribution Center in Houston on behalf of Cadeco Industries Inc. The warehouse space, located at 530-542 Portwall St., is split between two single-story buildings. The first comprises 81,000 square feet; the second has 62,820 square feet. Houston-based Warehouse Associates owns the 7-acre property and represented itself in the lease transaction.

March 23, 2009

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