HOUSTON — Houston-based Transwestern has leased the top two floors of 1800 West Loop South, a 399,777-square-foot office tower located in Houston’s Uptown Galleria submarket. Advertising agency Fogarty Klein Monroe will use the space, which totals 39,506 square feet, as its Houston office. The lease brings occupancy in the tower up to 95 percent. Michelle Wogan and Monte Calvert of Transwestern represented the landlord, 1800 West Loop South Ltd. Kevin Gardner of CresaPartners’ Houston office represented Fogarty Klein Monroe. The tenant is working with the Houston office of architect PageSoutherlandPage to design the office’s interior.
ALLEN, TEXAS — The Woodlands Grill has held the grand opening for its fourth location at 932 Garden Park Dr. in Allen. The new restaurant is situated within Watters Creek at Montgomery Farm, a 1.15 million-square-foot, mixed-use development. The restaurant seats 220, and also contains an outdoor dining patio and a semi-private dining area for special events. The design of the restaurant is inspired by Frank Lloyd Wright’s famous Fallingwater House.
KATY, TEXAS — Houston-based Live Oak Capital has structured acquisition and development financing for The Providence at Grand Parkway Apartments, a 250-unit, independent living, senior community located at 22801 Franz Rd. in Katy. The age-restricted community will feature 36 bungalow-style units averaging 886 square feet, in addition to the other apartment units. Property amenities include a 10,000-square-foot amenities center that features a central dining room, a game room, a coffee bar, a fitness center, a theater, a business center, a library, a salon, a spiritual center and a sundries store. Other amenities include a swimming pool, a 2-acre lake and walking paths. Jim Kirkpatrick and Tip Strickland of Live Oak Capital secured a $16.2 million senior loan through Charlotte, N.C.-based Bank of America and $4.5 million in equity through Washington, D.C.-based Perseus Realty Partners. The financing includes 95 percent loan-to-value ratio. The borrower is Providence Grand Parkway, Ltd., an entity led by the project’s developer, Houston-based Blazer Building. The project is being designed by Houston-based Mucasey & Associates. Construction is slated to begin this month.
COPPELL, TEXAS — Dallas-based United Commercial Realty/Chain Links (UCR) has arranged a lease in Coppell. Arizona-based Sprouts Farmers Market will occupy 28,673 square feet of anchor space formerly tenanted by grocer Albertson’s at a shopping center located at the corner of Sand Lake and Denton Tap roads in Coppell. Jean Smith and Karla Smith of UCR represented the tenant in lease negotiations. Christopher Gibbons and John Zikos of Dallas-based Venture Commercial Real Estate represented the undisclosed landlord. Terms of the lease were not released.
HARLINGEN, TEXAS — San Antonio-based Pocket Communications has signed a lease for an 18,000-square-foot building located at 6906 West Expressway 83 in Harlingen. The new location will serve as the company’s flagship customer service center. Pocket currently operates a retail store and a small customer service center at 2617 South 77 Sunshine Strip in San Antonio. The 80 people employed at the location will relocate to the new center; Pocket plans to employ 260 people at the new location by 2012. Terms of the lease were not disclosed.
GRAND PRAIRIE, TEXAS — Fort Worth, Texas-based NAI Huff Partners has negotiated an 8,050-square-foot industrial lease on behalf of Speedy Metals of DFW. The tenants, which was represented by Frank Jester of NAI Huff Partners, will be occupying space at 801 S. Great Southwest Pkwy. in Grand Prairie. The landlord was First Industrial LP. Terms of the lease were not disclosed.
BEAUMONT, SAN ANTONIO AND BELTON, TEXAS — San Rafael, Calif.-based The Silver Group has brokered three Texas 1031 exchanges. In Beaumont, the company completed the sale of a 98,000-square-foot Academy Sports + Outdoor superstore. The private, East Coast-based buyer acquired the property for $9.3 million. The Silver Group represented the both parties in the transaction. In San Antonio, The Silver Group completed the sale of an IHOP restaurant located in northwest San Antonio. The restaurant has 20 years remaining on its corporate lease. The buyer was a California-based investor. In Belton, The Silver Group represented a California-based duck club in the 1031 purchase of a newly constructed Jack In the Box restaurant. The property is located next to a new Walgreens and across the street from Wal-Mart, HEB Grocery and 1st National Bank. It has a 20-year lease for the location. The acquisition prices in all three transactions were not disclosed.
CONROE, TEXAS — Houston-based NAI Houston has completed the sale of 10.8 acres of land located at the southeast corner of FM 2854 and Highway 105 in Conroe. Travis Land and John Ferruzzo of NAI represented the private sellers, Geral W. Faus and Susan Faus. The undisclosed buyer was represented by Chris Hutcheson of Houston-based McAlister Co. The acquisition price and future development plans were not released.
GRAND PRAIRIE, TEXAS — Fort Worth, Texas-based NAI Huff Partners has negotiated an 8,050-square-foot industrial lease on behalf of Speedy Metals of DFW. The tenants, which was represented by Frank Jester of NAI Huff Partners, will be occupying space at 801 S. Great Southwest Pkwy. in Grand Prairie. The landlord was First Industrial LP. Terms of the lease were not disclosed.
SAN ANTONIO — Newport Beach, Calif.-based Buchanan Street Partners has sold Nowlin Tower, a 13-story, Class A office building located in San Antonio, for $38.5 million. Situated on 3.3 acres, the property comprises the 236,400-square-foot office building and an adjoining five-level parking garage. It also features a full-service bank with a 24-hour ATM, as well as postal and courier services. The property had recently undergone significant capital improvements, including a roof replacement, parking garage upgrades, HVAC upgrades, a remodeling of the building’s restrooms and the addition of a canopy to the main entrance. The property was acquired by SWBC, which had leased space at the tower as its headquarters for the past 15 years.