DALLAS — Trammell Crow Company (TCC) has broken ground on an 887,810-square-foot speculative industrial facility in Dallas. Located at the crossroads of Interstates 20 and 35, the building is expected to be complete by the fourth quarter of this year. The facility, which is Phase II of a 100-acre distribution park, sits on 55 acres. CB Richard Ellis is handling the leasing and marketing of the property.
FORT WORTH, TEXAS, AND RALEIGH, N.C. — Capmark Finance has originated $42.1 million in fixed-rate, permanent financing for the acquisition of two multifamily properties. The first, Enclave on Golden Triangle, spans 273 units at 5001 Golden Triangle Blvd. in Fort Worth. The property, which was built in 2007, comprises 29 two-story buildings. The second property, Six Forks Station, is located in Raleigh. Grubb & Ellis Investors was the borrower in both transactions.
ROUND ROCK, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged a $2.37 million fixed-rate loan for the acquisition of the Center at Cat Hollow. The 10,869-square-foot retail center is located at 16420 N. FM 620 in Round Rock. A pad site also was included in the sale.
HOUSTON — Shorenstein Properties LLC has purchased 5 Post Oak Park, a 28-story, Class A office tower in Houston. Located at 4400 Post Oak Pkwy. in the Galleria submarket, the 567,396-square-foot building is 93 percent leased to tenants such as Amegy Bank, UBS and Willbros USA. A partnership between GE Asset Management Inc. and Crescent Real Estate Equities LP sold the property, which also includes an adjacent 1,673-space parking structure. Shorenstein Properties made the purchase on behalf of its ninth investment fund, Shorenstein Realty Investors Nine, LP. The Houston office of Holliday Fenoglio Fowler represented the seller in the transaction.
HIGHLAND VILLAGE, TEXAS — The Shoppes at Highland Village, which opened last September, has added seven new tenants to its lineup. Ben & Jerry’s, WIK Candle and Blue Goose Cantina will join The Shoppes at Highland Village this summer, and Adventure Kids Playcare, Giada, Apricot Lane Boutique and Island Fashions recently have opened their doors at the upscale lifestyle center. Barnes & Noble and AMC Theaters anchor the 352,000-square-foot center, which is located at the northwest corner of FM 2499 and FM 407. Regency Centers is the property owner and developer.
HOUSTON — John Ferruzzo, Chris Caudill and Joel Michael of NAI Houston have represented ProLogis in the sale of a 9.54-acre land tract in Hobby Business Park in Houston. DSDY Real Estate LLC purchased the property, which sits on Telephone Road. Doyle Toups of Grubb & Ellis represented the buyer.
MANSFIELD, TEXAS — San Antonio-based K Partners Hospitality Group has broken ground on two hotels in the heart of Mansfield. The 83-room Fairfield Inn & Suites will feature an indoor pool, a whirlpool, a boardroom and a fitness center. The 88-room Hampton Inn & Suites will offer an outdoor pool and spa, 1,500 square feet of meeting space with a boardroom, and a fitness center.
IRVING, TEXAS — NYLO Hotels LLC recently broke ground on its third property, a 200-room hotel in Irving’s Las Colinas mixed-use community. NYLO Las Colinas will be an upscale, loft-style hotel featuring a 3,000-square-foot ballroom; an outdoor courtyard; a full-service restaurant; a high-energy bar; meeting space; a business center; a high-tech gym; a game room; a library; and a boutique shop. ORIX Real Estate Capital of Chicago provided financing, and Key Construction Texas LLC is the general contractor.
LUBBOCK, TEXAS — Texas Tech University has opened the Mark and Becky Lanier Professional Development Center at the School of Law. The 34,560-square-foot facility, which was designed by Dallas-based SHW Group, features the 130-seat Donald Hunt courtroom; a 300-seat auditorium/classroom; space for the Office of Academic Success Programs, Career Services, Alumni Development and student organizations; and a practice courtroom. Houston-based Vaughn Construction served as general contractor for the $13.6 million project.
LEWISVILLE, TEXAS — Majestic Realty Co. is nearing completion on three speculative buildings that total 1.35 million square feet at Majestic Airport Center DFW in Lewisville. The Class A industrial facilities comprise Building 1, which spans 130,000 square feet; Building 2, which totals 194,000 square feet; and Building 3, which is the largest speculative industrial building to date in the Dallas/Fort Worth area at 1.02 million square feet. Majestic Airport Center DFW, a joint venture between Majestic Realty Co. and Northwestern Mutual, is a seven-building, master-planned industrial park that will offer 3 million square feet of Class A industrial space upon completion.