COPPELL, TEXAS — ProLogis, an owner, manager and developer of distribution facilities, has leased 61,000 square feet at Freeport Corporate Center in Coppell to Hussmann, a refrigeration and food merchandising equipment manufacturer. The facility, which totals 143,000 square feet overall, is located near the Dallas/Fort Worth International Airport and is now fully occupied. Gary Lindsey and Jim Caldwell of Grubb & Ellis represented the tenant in the transaction.
CARROLLTON, TEXAS — Realty Capital Partners’ (RCP) subsidiary RCP Lakeview Living Ltd. has provided equity capital for the acquisition and development of an independent living facility on 5.83 acres in Carrollton. The unnamed development, which will overlook Josey Ranch Lake, will be adjacent to the Carrollton Senior Center and the Carrollton Public Library. The property will be developed through a joint venture between Zerga Development and The Covenant Group.
ALLEN, TEXAS — Trademark Property Co. has signed 15 new tenants for Watters Creek, a mixed-use development located at the southwest corner of U.S. Highway 75 and Bethany Drive in Allen. The new tenants bring the total number of leases signed to 38 for the project’s first phase, which is scheduled to open in April 2008. The new leases were signed by Cheesecake Factory, Bath & Body Works, DSW, Le Creuset, Gymboree, New York & Company, Sample House, Victoria’s Secret, Strasburg Children, The Boardroom Salon for Men, Celebrity Bakery and Café, Paciugo, Woodlands Grill and Gathering Place, Potbelly and Patsy Grimaldi’s Pizza. Nearly 620,000 square feet of the 1.15 million-square-foot development are complete. Future phases will include additional residential, retail, dining and office space, as well as a lifestyle hotel.
FORT WORTH, TEXAS — Henry S. Miller (HSM) Investment Banking Group has arranged approximately $35 million in financing for the Watercolor at North Beach Street Apartments development in Fort Worth. The 398-unit property, which is being built on 27.23 acres, will be located at North Beach Street just north of North Tarrant Parkway. Insight will manage and market the project, and El Paso, Texas-based C.F. Jordan Construction Co. will be the general contractor. Representing all parties, Roy Norwood, Jr. and Loy Shaw, Jr. of HSM Investment Banking Group arranged a $29.8 million construction loan with Capital One Bank, a $5.5 million equity investment by Fine Line and a third party loan guarantee.
GARLAND, TEXAS — First Industrial Realty Trust has completed construction of an industrial facility located at 3901 W. Miller Rd. in Garland. The 435,000-square-foot property is located at First Garland Business Park and is available for a single or multi-tenant lease. Terry Darrow and EdKepner of First Industrial Realty Trust were development managers for the project, and Bob Moore Construction provided building services.
SAN ANTONIO — Hendricks & Partners has finalized the sale of Bentwood Place, a 121-unit apartment complex located at 1111 Austin Hwy. in San Antonio. San Antonio-based Bentwood Apartments LLC sold the property to Houston-based Chancellor Austin Highway Apartments LP, which plans to redevelop the site into a 360-unit, mid-rise luxury apartment community. Construction is scheduled to begin this summer. The sale price was undisclosed. Scott Weems of Hendricks & Partners’ San Antonio office represented the seller in the transaction.
SAN ANTONIO — Atlanta-based Wakefield Beasley & Associates Architects has designed three retail sites at The Rim, an 800-acre mixed-use center located at the intersection of Interstate 10 and Loop 1604 in San Antonio. The retail properties — Staples, Stonewerks Restaurant and Tejas Lighting — are currently under construction with completion scheduled for mid-year 2008. Dennis Schott of Wakefield Beasley & Associates Architects is serving as project manager. Thomas Enterprises, based in Newnan, Ga., is developing The Rim.
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