FORT WORTH, TEXAS — Arlington, Texas-based Bob Moore Construction has completed two new buildings at Mercantile Center, an approximately 1,300-acre business park located in Fort Worth. Mercantile Distribution Center 16 is a 136,900-square-foot facility with 28 dock doors, and Mercantile Distribution Center 17 is a 182,400-square-foot facility with 31 dock doors. Both buildings feature 50-foot by 50-foot typical bay spacing and a 50-foot by 60-foot loading zone along the dock doors. Each building also includes skylights and ESFR sprinkler systems. The project was designed by Dallas-based Hardy McCullah/MLM Architects. Mercantile Center is owned by Fort Worth-based Mercantile Partners LP.
HOUSTON — Dallas-based Faulkner Design Group has completed the interior design and planning for The Village at Gleannloch, a continuing care retirement community located at the intersection of Spring Cypress Road and Interstate 249 in Houston. The project will include more than 130 independent living apartments and cottages, as well as 80 units for assisted living, skilled care and memory support specialization. Amenities for the project include a fitness center, an arts studio, a salon and spa, a 100-seat chapel, outdoor patio areas, a swimming pool, a library and business center, and a café. The senior housing facility is one component of the Gleannloch Farms master-planned community. Other components include a variety of residential housing options, a lakeside aquatic and athletic complex, an equestrian center, a championship golf course, hiking and biking trails, and schools.
AUSTIN, TEXAS — Marcus & Millichap has negotiated the sale of 605 Brazos, an 8,614-square-foot office building located in the central business district of Austin. Greg Gaynor of Marcus & Millichap’s Austin office represented the undisclosed seller in the transaction. The property was acquired by a local company for an undisclosed amount.
GRANBURY, TEXAS — Commercial Mortgage Connection (CMC) has secured a $4 million acquisition loan for a 21,000-square-foot medical office building located at 805 Hill Blvd. in Granbury. The fully occupied property is situated within the Avalon Medical Park office complex. Terms of the financing include a 5-year term with a 25-year amortization schedule, a 5.75 percent interest rate and an 80 percent loan-to-value ratio. Bill Jackson of CMC arranged the loan on behalf of Avalon Medical Partners LP with a large commercial bank. Chris Cantwell of Fidelity National Title of Fort Worth assisted with the closing.
AUSTIN, TEXAS — Capmark Finance has originated a total of $6 million in fixed-rate, non-recourse financing for four Austin multifamily properties. The apartment communities total 235 units and are all located within approximately 1 mile of each other in the West Campus neighborhood of the University of Texas. They consist of Penthouse Apartments, 24 Flats, Park Plaza Apartments and The Willows. The loans have a 25-year amortization schedule and a 5-year term. Brant Smith and Andy Hill of Capmark’s Houston office originated the financing. The borrower for Penthouse Apartments and 24 Flats was Triple Play Properties, Ltd.; the borrower for The Willows was Bouldin Willows Apartments LP; and the borrower for Park Place was WinfloPark LP. All of the companies are affiliated of the Austin-based owner of the apartment communities. The lender was Freddie Mac.
CARROLLTON, TEXAS — Dallas-based Henry S. Miller Commercial (HSMC) has brokered the lease of 13,500 square feet of industrial space at 1225 Capital Dr. in Carrollton. Chris Armstrong of HSMC represented the tenant, AlphaSIGN Centre, which will be relocating from its old headquarters in Dallas to the new office and warehouse building. The landlord, Cabbot Properties, provided in-house representation. Terms of the lease were not disclosed.
DALLAS AND DONNA, TEXAS — Marcus & Millichap has completed two Texas sales. In Dallas, the firm brokered the sale of the 63-unit Oak Glen Apartments. The community is situated north of Interstate 20, between interstates 35 and 45, and is also located near a DART Rail Station. John Barker of Marcus & Millichap’s Dallas office listed the property on behalf of the seller, a Texas-based limited partnership. Jeffrey Miller of the firm’s Encino, Calif., headquarters office represented the buyer, a California-based corporation. The acquisition price was not disclosed. Additionally, Chad Knibbe of Marcus & Millichap’s San Antonio office represented the seller in the disposition of a 5,4000-square-foot, net-leased Auto Zone located at 802 Hooks Ave. in Donna. Situated on approximately a half-acre, the Auto Zone was constructed in 1998. The acquisition price was not disclosed, but the property listed for approximately $1 million.
DALLAS — Addison, Texas-based MedCapital Group has provided $8.58 million in non-recourse financing for the acquisition and renovation of a 75,000-square-foot, inpatient behavioral health center located in North Texas. The borrower is a national behavioral healthcare developer and management company. Terms of the financing were not disclosed.
TERRELL, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has secured $3.5 million for the refinancing of Towne West Shopping Center, a 113,348-square-foot retail property located at the intersection of Interstate 20 and U.S. Highway 80 in Terrell. The property is 99 percent leased to a tenant roster that includes Payless Shoe Source, Zip Cash, Radio Shack, Subway, Big Lots, World Acceptance, Aaron’s Rental, Bealle’s Department Store, Robinson Furniture and Family Dollar. Todd McNeill of MCA originated the financing on behalf of O.R.D.A. Corp. with Viewpoint Bank. Terms of the financing include a 6.75 percent fixed interest rate and a 5-year term.
LEAGUE CITY, TEXAS — Englewood, Colo.-based Deerwood Development Group has received approval for the development of RiverBend on Clear Creek, a 68-acre mixed-use development located near the intersection of Interstate 45 and FM 518 in the Houston suburb of League City. The waterfront project, which is located near a wetland on the south shore of Clear Creek, has been approved for the construction of 320,000 square feet of commercial office and medical space; 50,000 square feet of retail space; a 142-room hotel and convention center; 16,000 square feet of restaurant space; and 750 multifamily residential units that include apartments, townhomes, condominiums, and lofts above the retail and office space. RiverBend on Clear Creek will also feature an 80-slip, public/private marina, as well as nature trails that pass through the undisturbed wetlands on the property. Deerwood has selected Texcor Construction Services to perform mass grading on the site, which the company began in July.