CEDAR HILL, TEXAS — The MGHerring Group has finalized and released the roster of tenants for its near-complete Uptown Village at Cedar Hill project located in Cedar Hill. The 725,000-square-foot shopping center, which is located at FM 1382 and Highway 67 adjacent to Uptown Boulevard and Pleasant Run Road, is scheduled to open March 12. The center will be anchored by Dillard’s, Dick’s Sporting Goods (scheduled to open in August) and Barnes & Noble; it also will feature other retailers such as Chico’s, Coldwater Creek, Victoria’s Secret, Bath & Body Works, Hollister, American Eagle, Buckle, Aeropostale, Finish Line, Champs, Foot Locker, Lady Foot Locker, Ulta, Aveda Spa, Icing by Claire’s, Francesca’s Collections, Solstice, Italia Express, Maui Wowi, Great American Cookie and Candy World. Ann Taylor Loft, Lane Bryant, Jos. A. Bank and Razzoo’s Cajun Café will be among the retailers opening in late spring and summer of 2008.
Texas
ROCKWALL, TEXAS — St. Paul, Minn.-based North American Composites Company (NAC) has been selected by The Rockwall Economic Development Corporation (REDC) to construct a new 26,500-square-foot distribution facility in the Rockwall Technology Park in Rockwall. Construction will begin this spring on the building, which is located on approximately 3.63 acres at the intersection of Observation Trail and Technology Way. The project is estimated to cost $2.2 million upon completion.
HOUSTON — LMI Capital, a financial advisory company based in The Woodlands, Texas, has arranged approximately $7.59 million in fixed-rate debt for the acquisition of the 425-unit Bellfort South West III Apartments located 6400 W. Bellfort St. in Houston. The borrower was Cypress Club Investors LP. Brandon Brown of LMI secured the permanent financing through one of LMI Capital’s portfoliolending sources.
HOUSTON — PM Realty Group (PMRG) has broken ground on the Rice Village Apartment complex located at 2410 Shakespeare St. in Houston. Upon completion, the four-story, 118,900-square-foot development will provide housing for Rice University graduate students. The property comprises 137 units with various one-and two-bedroom floor plans, and offers amenities such as a lobby, offices, a TV room, and a laundry room and interior storage for up to 100 bicycles. The complex is scheduled for completion in February 2009.
GRAND PRAIRIE, TEXAS — Dallas-based Henry S. Miller Commercial has brokered a lease on behalf of Louisville Ladder for an industrial space located at 823 Heinz Way in Grand Prairie. Louisville Ladder plans to use the 65,522-square-foot facility, owned by First Industrial and located in the Parkway Distribution Center, as a new regional distribution center. Brett Owens of Henry S. Miller Commercial represented the tenant in the transaction, and Brock Wilson, also of Henry S. Miller Commercial, represented the landlord.
HOUSTON — Two commercial real estate firms, Houston-based AmREIT and Atlanta-based Songy Partners LLC, have begun construction on a hotel located at the corner of Westheimer Road and Yorktown Street in Houston’s Galleria district. The project, which will be a 153-room Starwood Aloft Hotel built on 3.2 acres, is part of a complete redevelopment on the site that also includes the renovation of 135,000-square-foot office building located at 5433 Westheimer Rd. The office building renovation will begin sometime in 2008. JE Dunn Construction Co. is the contractor for the project. Fruchtman Associates Architects worked with Starwood on the hotel’s architecture, and Ziegler Cooper is the architect for the master planning and the office renovation.
DALLAS — Hendricks & Partners has finalized the sale of Park Dale Garden, an apartment complex located at 9701 Dale Crest in Dallas. Torrance, Calif.-based Windsor Exchange Corp. purchased the 224-unit property, which was built in 1974, from New York, N.Y.-based Park Dale Gardens National Corp. for an undisclosed amount. Tom Warren and Christopher Thomson of Hendricks & Partners’ Dallas office, and Ed Cummins and Jim Hearn of the company’s Houston office, represented the seller in the transaction. Copelan Group represented the buyer.
AUSTIN, TEXAS — Hines, a commercial real estate development firm, is developing a new museum facility for The Austin Museum of Art (AMOA) located at Fourth and Guadalupe Streets in downtown Austin. The museum, which will be a three-story, 40,000-square-foot facility, is one piece of a two-part project by Hines. The museum development also will feature a 30-story, 425,000-square-foot office building located one block South of Republic Square called Museum Tower, which will be the first LEED-certified project in downtown Austin. Pelli Clarke Pelli will serve as architect for both projects.
SUGAR LAND, TEXAS — Live Oak Capital Ltd., a commercial real estate mortgage banking firm, has arranged fixed financing on behalf of Fidelis Realty Partners Ltd. for the Frost Bank building located at 8410 Highway 90A in Sugar Land. The 1.74 acre site includes a 17,575-square-foot office building and an 815-square-foot motor bank. Financing was arranged through ViewPoint Bank in Houston, which structured a 75 percent loan-to-acquisition cost with a 10-year term, 30-year amortization and a fixed interest rate of 6.5 percent.
SAN ANTONIO — Denver-based ProLogis has begun construction on two industrial facilities located in City Park East Distribution Center at 8555 – 8569 N.E. Loop 410 in San Antonio. One 52,000-square-foot site is being built for Gulf Coast Paper Co., while another 101,000-square-foot site under construction is currently available for lease. Both buildings are scheduled for completion late this year. City Park East Distribution Center is a four-building, master-planned industrial park totaling 252,900 square feet.