Texas

TEXAS CAPITAL BANK BUILDING TOPS OUT IN UPTOWN

by admin April 16, 2008

DALLAS — The new Texas Capital Bank Building located at 2000 McKinney in Dallas’ Uptown district recently topped out. The 20-story office tower is part of a $120 million project that also features a five-story residential/retail building. Texas Capital Bank will occupy 100,000 square feet when the 445,0000-square-foot office tower opens this fall. The residential building will open in 2009. A Woodall Rodgers Park is being planned for the adjacent 5.2 acres. Lincoln Property Co. and Corrigan Properties are the owners and project developers. The Beck Group is building the project, and HKS Inc. is the architect.

April 16, 2008

HENDRICKS & PARTNERS NEGOTIATES SALE OF APARTMENT COMMUNITY

by admin April 16, 2008

KELLER, TEXAS — Richmond, Va.-based 5001 Enclave LLC has acquired the 273-unit Enclave on Golden Triangle apartment community in Keller. Located at 5001 Golden Triangle Blvd., the property features two-story, garden-style buildings on 16.7 acres. Amenities include direct access garages, a cyber caf, a two-story fitness center, a sport court and a resort-style swimming pool. Westlake, Texas-based Enclave on Golden Triangle Investors LP sold the community. Jim Hearn and Ed Cummins of the Houston office of Hendricks & Partners, and Tom Warren and Christopher Thomson of the Dallas office, represented the seller in the transaction.

April 16, 2008

Mixed-Use Texas

LODGEWORKS TO DEVELOP BOUTIQUE HOTEL AT MARKET STREET-THE WOODLANDS

by admin April 15, 2008

SPRING, TEXAS — LodgeWorks will develop an AVIA hotel at Market Street-The Woodlands, a mixed-use center located at 9595 Six Pines Dr. in Spring. The 70-room hotel will feature a wine bar, a coffee bar, in-room flat-screen televisions and iPod connections, a terrace with a pool and 2,240 square feet of event space. The hotel will be completed, along with 24,000 square feet of additional retail, in fall 2009. The property, which will be AVIA’s fourth hotel nationwide, is being developed along with equity partner Open Hospitality Partners.

April 15, 2008

Multifamily Texas

ARA FINALIZES SALE OF BISHOP’S SQUARE APARTMENTS

by admin April 15, 2008

SAN MARCOS, TEXAS — Apartment Realty Advisors’ (ARA) National Student Housing Group has completed the sale of Bishop’s Square Apartments, a residential complex located in San Marcos near Texas State University. Chicago-based Campus Acquisitions purchased the property from Austin-Texas-based Falcon Southwest for an undisclosed amount. Built in 2002, the 134-unit property comprises 16 buildings featuring 27 one-bedroom units, 33 two-bedroom units and 74 three-bedroom units. Patton Jones and Chris Bancroft of ARA represented the seller in the transaction.

April 15, 2008

Seniors Housing Texas

PRS TO ADD RESIDENTIAL HIGH RISE TO TRINITY TERRACE SENIOR FACILITY

by admin April 15, 2008

FORT WORTH, TEXAS — Pacific Retirement Services Inc. (PRS) will develop a new high-rise residential building within Trinity Terrace, a senior living facility located at 1600 Texas Street in Fort Worth. The building, called River Tower, will offer penthouses, apartment homes and brownstone-style patio homes offering underground parking. The property’s amenities will include a penthouse view dining room and a health care center, which will provide nursing and rehabilitation care in all private suites. Portland, Ore.-based Ankrom Moisan Associated Architects will provide architectural services for the project.

April 15, 2008

Office Texas

BOB MOORE CONSTRUCTION COMPLETES SECOND PHASE OF FIRST GARLAND BUSINESS CEN

by admin April 14, 2008

GARLAND, TEXAS — Bob Moore Construction has completed construction on the second phase of First Garland Business Center, an office property located at 3901 W. Miller Rd. in Garland. The 435,180-square-foot building, which was developed by First Industrial Trust, is now available for lease at a minimum of 100,000-square-foot units. Hardy McCullah/MLM Architects provided architectural services for the project. Bob Moore Construction also provided construction services for the first phase, a 509,000-square-foot property that was completed in 2001.

April 14, 2008

Industrial Texas

CUSHMAN & WAKEFIELD OF TEXAS INC. BROKERS 120,000-SQUARE-FOOT WAREHOUSE LEA

by admin April 14, 2008

HOUSTON — Cushman & Wakefield of Texas Inc. has brokered a lease on behalf of Iron Mountain Information Management Inc. for an industrial space located at 4013 W. 11th St. in Houston. AN/WRI Partnership Ltd. is the landord of the 120,000-square-foot warehouse, which is located within the West Loop Business Park Commercial Park. James Foreman and Louis Kaleel of Cushman & Wakefield of Texas Inc.’s Houston office represented the tenant in the transaction, while Mary Jo Giammalva of Weingarten Realty represented the landlord.

April 14, 2008

Retail Texas

BURLESON PARTNERS TO ADD PREMIERE CINEMAS 12 AS ANCHOR FOR RETAIL CENTER

by admin April 14, 2008

BURLESON, TEXAS — Burleson Partners has announced the Premiere Cinemas Corp. will open a 42,000-square-foot anchor cinema at its Burleson Commons property located at State Highway 174/Wilshire Boulevard and FM 731 in Burleson. Premiere Cinemas 12 will open the new location this summer at the 37-acre retail center, which was completed in February. The theater will feature stadium seating for 1,400 patrons.

April 14, 2008

Industrial Texas

GRUBB & ELLIS CO. COMPLETES SALE OF 50,200-SQUARE-FOOT INDUSTRIAL BUILDING

by admin April 14, 2008

HOUSTON — Grubb & Ellis Co. has finalized the sale of an industrial building located at 5601 Braxton Dr. in Houston. Eclectic Design LP purchased the 50,200-square-foot property from R & G Leasing Co. for an undisclosed amount. Doug and John Nicholson of Grubb & Ellis Co. represented the seller in the transaction.

April 14, 2008

Multifamily Texas

CBRE BROKERS SALE OF STUDENT HOUSING PROPERTIES

by admin April 11, 2008

WACO AND SAN ANTONIO, TEXAS — CB Richard Ellis (CBRE) Detroit multi-housing group has closed the sale of two Texas student housing properties to White Plains, N.Y.-based Woodlark Capital LLC. Champaign, Ill.-based Royal Properties sold the properties for an estimated $60 million. The Outpost, a 543-bed apartment complex in Waco, comprises six buildings totaling 224,577 square feet. The 12.51-acre property is located off Interstate 35 near Baylor University. The Reserve is a 753-bed complex that spans eight buildings. The 288,168-square-foot property sits on 33 acres near the University of Texas-Austin campus in San Antonio. Rob Stone of CBRE Detroit represented both the buyer and the seller.

April 11, 2008

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