FORT WORTH, TEXAS — Westwood Contractors is scheduled to break ground on a 30,000-square-foot addition to Buxton’s corporate headquarters in Fort Worth. The addition will occupy part of a 3.5-acre tract of land and is being designed by Gideon Toal, a Fort Worth-based architecture firm. The existing 20,000-square-foot facility is located in the Mercantile Center off of Meacham Boulevard. The new wing will feature private conversation rooms, a media presentation room and amphitheater, and a kitchen and outdoor dining spaces. Completion is slated for summer 2008.
Texas
HOUSTON — Shorenstein Properties recently acquired 2000 West Loop South, 356,700-square-foot office building located in the Galleria submarket of Houston. The 21-story property, which was built in 1970, is 98 percent occupied by tenants including United Healthcare, Live Nation and AM/FM Operating. The transaction also included a five-level, 1,299-space parking structure. Holliday Fenoglio Fowler represented the sellers, a group of tenant-in-common investors and Houston-based Means Knaus Partners.
TULSA, OKLA. — St. Louis-based Tulsa Retail Center LLC has sold a 123,774-square-foot retail center in Tulsa for $13.85 million. The property is located on 11.52 acres of land at 9121 E. 71st St., adjacent to Woodland Hills Mall, a 1.2 million-square-foot retail center. The center is 100 percent occupied and tenants include Linens ‘N Things and Golf Galaxy, as well as a freestanding NNN-leased Circuit City. Jason Little of Sperry Van Ness’ Oklahoma City office represented Tulsa Retail Center LLC, while Tom Kallenback of Tom Kallenback Real Estate Investments represented the undisclosed buyer.
HOUSTON — Marcus & Millichap has negotiated the sale of Chez Orleans Apartments, a 23-unit multifamily community located at 7065 Bellfort in Houston. The property was built in 1864 and spans a total of 21,120 square feet. Robert Su and Gannon Baird of Marcus & Millichap’s Houston office represented the buyer and secured the seller in the transaction. A Texas-based investor acquired the property.
DENTON, TEXAS — Granite Properties is currently developing Phase I of Granite Point Business Park, a planned 1 million-square-foot industrial development located at the southwest corner of Interstate 35 East and 35 West in Denton. The first phase of the project comprises a 145,000-square-foot building and 152,200-square-foot building. Amenities will include 24-foot clear height, ESFR sprinklers, rear loading and office space.
HOUSTON — Marcus & Millichap has handled the sale of Richmond Office Building, a 53,140-square-foot office building in Houston. The property, which was built in 1982, is situated on 2.34 acres of land at 11222 Richmond. Brent Smith and Lucas Daniels of Marcus & Millichap’s Houston office represented the seller, a Houston-based private investor. Smith and Daniels also secured and represented the buyer, a Houston-based LLC.
HOUSTON — BMC Capital recently provided $1.7 million in financing for the acquisition of 4240 Highway 6 Retail, a retail property in Houston. The six-unit multi-tenant development is located at 4240 Highway 6. Keith van Arsdale of BMC Capital’s Houston office arranged the fixed-rate loan.
DALLAS — Post Properties has broken ground on Post Frisco Bridges, a new 5-acre mixed-use development located off of the Dallas North Tollway in Dallas. Phase I of the project, which is positioned within the Champion Partners’ master-planned Sierra Frisco development, will feature 269 luxury apartment units and approximately 29,000 square feet of retail space. The residential portion will house one- and two-bedroom units with amenities including a pool, an outdoor fireplace, a fitness center, an Internet café and two landscaped courtyards. The first units will be available in the fourth quarter of 2008.
KELLER, TEXAS — Staubach Retail recently negotiated the disposition of Stone Glen Village, an approximately 27,000-square-foot retail center in Keller. The development, which is located at FM 1709 and Bourland, comprises retail shops and restaurants. Lynn Dowdle of Staubach Retail represented the seller, Keller/1709 Retail.
HOUSTON — Marcus & Millichap has handled the sale of Jones Road Professional Building, a 12,175-square-foot office building in Houston. The property, which was built in 1992, is situated on 1.09 acres at 12850 Jones Rd. Brent Smith and Tanner McGraw of Marcus & Millichap’s Houston office represented the seller, a Texas-based limited partnership. An Oregon-based private investor acquired the asset.