WICHITA FALLS, TEXAS — The Hartford, Mass., office of Tremont Realty Capital has arranged financing for the refinance of an apartment complex in Wichita Falls. The 2-year, $3.4 million bridge loan was funded through a regional bank. The property, Summit Apartments, comprises 149 units.
Texas
NEW BRAUNFELS, TEXAS — Greg Marberry of CB Richard Ellis (CBRE) has represented Cleveland, Ohio-based Weston Inc. in the purchase of the Moll Building in New Braunfels. The facility, which is located at 710 FM 306, spans 102,940 square feet. Weston has leased the property to EH Systems.
MCALLEN, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged a $5.7 million fixed-rate mortgage for The District Plaza in McAllen Milestone Therapy and Blue Aquarium Restaurant anchor the 46,000-square-foot shopping center. The mortgage was arranged on behalf of a partnership sponsored by Tony Domit.
HOUSTON — Doug Bates of Henry S. Miller Commercial has represented Louisiana-based investor Robert Leavines in the sale of 2.47 acres at the 12900 block of FM 529 in Houston. A local commercial real estate developer, 12926 FM 529 LLC, purchased the site. The buyer plans to develop a single-tenant or multi-tenant office/warehouse building on the tract. Steve Kuper and Mark Ward of National Realty Group represented the buyer.
FORT BEND COUNTY, TEXAS — Hillwood recently sold 62 acres in its 3,827-acre Sienna South community in Fort Bend County to the Fort Bend Independent School District. The site will be used for the development of a high school and an elementary school. Construction on the high school is planned to begin this summer, and completion is expected in August 2010. Johnson Development Corp. is assisting Hillwood by providing the necessary infrastructure, including roads and utilities, to serve the schools.
FORT WORTH, TEXAS — Chesapeake Energy Corp. has agreed to purchase the Pier 1 Imports building in downtown Fort Worth. The 460,000-square-foot office building sits on 14.7 acres near the banks of the Trinity River. Chesapeake will use the facility to accommodate further growth of its Barnett Shale district headquarters and its North Texas employees.
STEPHENVILLE, TEXAS — Marcus & Millichap has closed the sale of Stephenville Retail Center in Stephenville. Gavin Kam and Brad Kam of the firm's Dallas office marketed the property on behalf of the seller, Dallas-based developer Randy Box with Croesus Capital Partners LLC. Richard Ringer and David Levy of Marcus & Millichap's West Los Angeles office represented the buyer, a California-based limited liability company. The 100 percent leased center, which includes tenants such as Cold Stone Creamery, AT&T Wireless, GameStop and Wing Stop, is located on Washington Street.
THE WOODLANDS, TEXAS — The Woodlands Development Company (TWDC) is developing 4 Waterway Square, a 216,000-square-foot, Class A office building in The Waterway Square District of The Woodlands Town Center. Located at the intersection of Waterway Square Place and Woodloch Forest Drive in The Woodlands, the new nine-story building will begin construction soon, Elkus-Manfredi of Boston designed 4 Waterway Square; Harvey Builders of Houston is the general contractor. Gensler Houston is the architect of record for the building, which will include an adjacent 1,900-space Waterway Square garage. Both 4 Waterway Square and the garage are expected to be complete in the summer of 2009.
FORT WORTH, TEXAS — Sheelin McSharry Texas LP, an affiliated of Dallas-based Defeaseit, has closed on the purchase of 1,170 acres in North Fort Worth. The land, which is bordered by Peden Road on the north, Bonds Ranch Road on the south and Boat Club Road on the west, will be used for residential and commercial development.
MAGNOLIA, TEXAS — Target has signed on to anchor Westwood Village, a 308,542-square-foot shopping center being developed by Regency Centers in Magnolia. The retailer will open a 126,874-square-foot store. Ross Dress For Less, Gold’s Gym, PetSmart and Famous Footwear also have signed leases at the center. Chili’s Grill and Chik-fil-A have leased retail space on the out parcels. The property, which is located at FM 2978 and FM 1488, is scheduled to open in July.