FRISCO, TEXAS — Courtyard by Marriott will construct the first of its new mid-rise prototype hotels at Frisco Market Center, an 88-acre, master-planned development located in the Dallas suburb of Frisco. The 150-unit hotel will be located along Main Street facing the Dallas North Tollway. The new concept is known as Go Marriott, and will include a lobby with a front desk in pods rather than a long desk, environmentally friendly operations, a GoBoard touch-screen information system, wireless technology, hi-definition televisions and three food service options. The hotel also will include 5,000 square feet of meeting space, a pool, an exercise area and a connection to the Frisco Market Center trail system. Groundbreaking is scheduled to occur later this year, with completion expected in late 2009.
DALLAS — Germany-based KanAm Grund (KAG) has acquired Denbury Park II, a 102,600-square-foot, Class A office building located within Legacy Business Park in Dallas. The facility was constructed this year as a build-to-suit for Denbury Resources, which occupies the entire building on a long-term basis. It is also LEED-certified by the U.S. Green Building Council. The seller, Koll Development Co., was represented by the Dallas office of Holliday Fenoglio Fowler. KAG was assisted by Manish Bhatia and Gregory Moore of KAG’s U.S. subsidiary, KanAm Grund America LP. KAG acquired the property on behalf of its KanAm US-grundinvest Fonds.
BOERNE, TEXAS — Roy Maas’ Youth Alternatives has broken ground for the Art and Barbara Burdick Community Center, located at 121 Old San Antonio Rd. in Boerne. The 7,000-square-foot facility will serve at-risk children attending the new MeadowLand Charter School, which opens in August. It provides office space, as well as a room that can seat up to 350 people and can be partitioned into two smaller meeting rooms, as well as a kitchen and cafeteria space. The community center also will be available to other Boerne-area community groups.
HOUSTON — Houston-based PinPoint Commercial has commenced development of Phase II of Satsuma Station Industrial Park, a 115-acre, master-planned industrial project located near the intersection of Highway 290 and FM 1960 in Houston. Phase II will consist of the construction of Satsuma Distribution Center, a 315,000-square-foot speculative facility. It will feature 30-foot clear ceiling heights, approximately 70 doors and will be divisible from 30,000 square feet. The project also is applying for LEED-Silver certification from the U.S. Green Building Council. Construction will commence in August, with completion scheduled for the first quarter of 2009. Additionally, PinPoint has partnered with Dallas-based Phoenix Capital to master-plan the remaining acreage of the park. At full build-out, Satsuma Station Industrial Park will contain 1 million square feet of industrial development. CB Richard Ellis will market the property.
HOUSTON — Studley has represented the law firm Hogan & Hartson (H&H) in the leasing of the entire 43rd floor of the Bank of America Center, a 56-story, 1.2 million-square-foot office tower located at 711 Louisiana St. in Houston. H&H will occupy 17,519 square feet, which is double the size of its previous located at Pennzoil Place in Houston. Rick Rome and Nicole Miller of Studley’s Washington, D.C. office, along with Kevin Hodges of the firm’s Houston office, represented H&H. John Spafford of Houston-based PM Realty Group represented the landlord, an affiliate of GE Pension Trust.
CARROLLTON, TEXAS — Marcus & Millichap has completed the sale of Carrollton Shopping Center, a 14,950-square-foot retail property located at the corner of Old Denton Road and President George Bush Turnpike in Carrollton. The property is shadow-anchored by a Wal-Mart Supercenter. Gavin Kam and Brad Kam of the Dallas office of Marcus & Millichap represented the seller, a Michigan-based developer. The pair also procured the buyer, a Colorado-based development company. The acquisition price was not disclosed.
HOUSTON — NAI Houston has brokered the purchase of a newly constructed, 35,200-square-foot warehouse/office building located at 7108 and 7100 West Little York in Houston. Travis Land and John Ferruzzo of NAI Houston represented the buyer, ABCO Subsea Associates. The seller, 168 Coreig I, was represented by Stephen Schneidau, Beau Kaleel and Jim Foreman of Cushman & Wakefield. The purchase price was not disclosed.
AUSTIN, TEXAS — ING Clarion Partners has acquired Southpark Commerce Center III, a three-building, 470,886-square-foot industrial property located at 4801 Freidrich Lane in Austin, from Endeavor Real Estate Group. Two buildings on the 31-acre property were completed in 2002, and are fully leased to a tenant roster that includes Axcess Technologies and Calendar Club. The third building was completed in January and is fully occupied by multiple tenants. Jim Batjer, Barry Brown, and Robby Rieke of Holliday Fenoglio Fowler marketed the property on behalf of the seller. The acquisition price was not disclosed.
WAXAHACHIE, TEXAS — Marcus & Millichap has arranged the sale of The Marketplace at Waxahachie, a 100,044-square-foot shopping center located at 791 N. Highway 77 in Waxahachie. Situated on 11.4 acres, the building is anchored by Bealls, Hastings, Dollar Tree and Sleep Experts. Additional tenants include Cotton Patch Café and Double Dave’s Pizza. Samueal Herskovits and Gavin Kam of Marcus & Millichap’s Dallas office represented the undisclosed seller. The buyer also was not disclosed.
FORT WORTH, TEXAS — Dallas-based Henry S. Miller Commercial (HSMC) has brokered the sale of a 29,200-square-foot retail property located at 821-825 W. Vickery Blvd. in Fort Worth. The property was acquired by Stage West Theatre dba Allied Theatre Group. The theatre company previously had occupied 9,000 square feet within 821 W. Vickery Blvd. more than 20 years ago. Stage West Theatre will renovate the theater seating and dining area of the new property, now that it has control over the whole building. HSMC represented the Fort Worth-based seller, Marshall Robinson. The acquisition price was not disclosed.