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.
Texas
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.
FORT WORTH, TEXAS — Duke Realty Corp.’s construction team has been selected to develop a 50,000-square-foot office building for Galderma, a joint venture between Nestlé and L’Oréal. The new two-story facility will be located on 4.61 acres off Interstate 35 West in North Fort Worth, adjacent to Galderma’s existing headquarters building and distribution center. Galderma purchased the land, which is situated on the Fort Worth section of AllianceTexas, from Hillwood. Construction is expected to begin this month, and completion is scheduled for January 2009.
DALLAS — The U.S. Green Building Council has awarded Southern Methodist University’s (SMU) Embrey Engineering Building with a Leadership in Energy and Environmental Design for New Construction (LEED-NC) Gold level certification. This makes the building, which was built by Turner Construction and designed by Hahnfeld Hoffer Stanford, the only collegiate academic building in Texas to receive this level of certification. The Embrey Engineering Building opened in 2006.
SPRING, TEXAS — Greg Young and Cutt Ableson of Live Oak Capital have arranged $4.7 million in acquisition fixed financing for a 35,321-square-foot retail property in Spring. Located at 6370 Louetta, the property features Pure Fitness as the anchor tenant. Additional retailers include Perfect Tan, Champions Hair and Serenity Day Spa. The center was completed in March 2007. ViewPoint Bank in Houston structured the loan.
THE WOODLAND, TEXAS — Drew Morris of Studley’s Houston office has negotiated the purchase of a two-story building in The Woodlands. Lighting Inc. will occupy 14,000 square feet of retail space in the facility, which is located at 255 Ed English Lane. Lighting Inc. purchased the building from K&B of Walden LLC.
SUGAR LAND, TEXAS — Curtice Commercial Real Estate has completed the framing of the new 30,000-square-foot Founders Bank Plaza. Located at the southeast corner of Sweetwater and Lexington boulevards in the First Colony master-planned development in Sugar Land, the office/banking center will be anchored by Founders Bank. Jim McGregor and Charles Browne of Browne Penland McGregor Stephens Architects designed the building; Crossmark Commercial Construction LC is the general contractor. Founders Bank Plaza, which is scheduled to open in late summer, currently has space between 1,500 and 12,000 square feet for lease.
TEXAS — Atlanta-based GreenbergFarrow is overseeing the rollout of new locations for Carl’s Jr. restaurants in Texas and California. GreenbergFarrow’s development services division is guiding the expansion program for the restaurant, which currently has more than 1,100 restaurants in 14 states and six countries. The firm also will provide architecture, civil engineering and site planning services for the new restaurant locations.
DESOTO, TEXAS — Dan Spika and Mark Hajdu of Henry S. Miller Commercial have represented James McNatt in the sale of a 5.38-acre site in DeSoto. An existing 11,000-square-foot auto showroom is located on the site, which sold to OTCC Properties LLC. The buyer plans to house a new pre-owned car lot on the property.
WACO, TEXAS — Caterpillar Inc. will break ground this month on a more than 500,000-square-foot facility in Waco. Located at 2901 Gateway Blvd., the distribution center will employ between 140 and 180 people upon completion and will provide primary aftermarket parts support to six Caterpillar dealers in North America.