HOUSTON — Hines REIT has acquired Williams Tower, a 64-story office building located at 2800 Post Oak Blvd. in Uptown Houston. Amenities at the 1.5-million-square-foot tower include a retail bank and ATM in the lobby; a conference center; a lobby-level art gallery; a sundry shop; a drycleaners; a deli; and a coffee bar. Transcontinental Gas Pipe Line Corp., Black Box Network Services; Hines and Hines REIT (corporate headquarters); Rowan Cos.; Van Kampen Investments; Citicorp North America; CBRE Melody of Texas; Wachovia Bank; and Williams Field Services Co. are a few of the major tenants at the 94 percent-leased building. Cushman & Wakefield represented the seller, Transco Tower Ltd., in the transaction, which also included an undivided interest in the adjacent 2.8-acre Waterwall Park and another 2.3-acre undeveloped land parcel across the street. Hines developed Williams Tower, and has managed and leased the building since its completion in 1982.
HOUSTON — First Industrial Realty Trust has sold a 191,537-square-foot industrial building to TA Associates Realty. The facility is located at 8705 City Park Loop East in Houston. Doug Nicholson and John Nicholson of Grubb & Ellis Co. represented the seller.
CORPUS CHRISTI, TEXAS — Josh Gaines of NAI Cravey Real Estate Services has represented both the buyer and the seller in a two-building transaction in Corpus Christi. The sale included a 12,500-square-foot office/warehouse building and a 10,250-square-foot retail building located on 5.35 acres at 585 South Padre Island Dr. RSC Equipment Rentals currently occupies the space. Both the buyer and the seller were private investors.
DALLAS — Trammell Crow Company (TCC) has broken ground on an 887,810-square-foot speculative industrial facility in Dallas. Located at the crossroads of Interstates 20 and 35, the building is expected to be complete by the fourth quarter of this year. The facility, which is Phase II of a 100-acre distribution park, sits on 55 acres. CB Richard Ellis is handling the leasing and marketing of the property.
FORT WORTH, TEXAS, AND RALEIGH, N.C. — Capmark Finance has originated $42.1 million in fixed-rate, permanent financing for the acquisition of two multifamily properties. The first, Enclave on Golden Triangle, spans 273 units at 5001 Golden Triangle Blvd. in Fort Worth. The property, which was built in 2007, comprises 29 two-story buildings. The second property, Six Forks Station, is located in Raleigh. Grubb & Ellis Investors was the borrower in both transactions.
ROUND ROCK, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged a $2.37 million fixed-rate loan for the acquisition of the Center at Cat Hollow. The 10,869-square-foot retail center is located at 16420 N. FM 620 in Round Rock. A pad site also was included in the sale.
HOUSTON — Shorenstein Properties LLC has purchased 5 Post Oak Park, a 28-story, Class A office tower in Houston. Located at 4400 Post Oak Pkwy. in the Galleria submarket, the 567,396-square-foot building is 93 percent leased to tenants such as Amegy Bank, UBS and Willbros USA. A partnership between GE Asset Management Inc. and Crescent Real Estate Equities LP sold the property, which also includes an adjacent 1,673-space parking structure. Shorenstein Properties made the purchase on behalf of its ninth investment fund, Shorenstein Realty Investors Nine, LP. The Houston office of Holliday Fenoglio Fowler represented the seller in the transaction.
HIGHLAND VILLAGE, TEXAS — The Shoppes at Highland Village, which opened last September, has added seven new tenants to its lineup. Ben & Jerry’s, WIK Candle and Blue Goose Cantina will join The Shoppes at Highland Village this summer, and Adventure Kids Playcare, Giada, Apricot Lane Boutique and Island Fashions recently have opened their doors at the upscale lifestyle center. Barnes & Noble and AMC Theaters anchor the 352,000-square-foot center, which is located at the northwest corner of FM 2499 and FM 407. Regency Centers is the property owner and developer.
HOUSTON — John Ferruzzo, Chris Caudill and Joel Michael of NAI Houston have represented ProLogis in the sale of a 9.54-acre land tract in Hobby Business Park in Houston. DSDY Real Estate LLC purchased the property, which sits on Telephone Road. Doyle Toups of Grubb & Ellis represented the buyer.
MANSFIELD, TEXAS — San Antonio-based K Partners Hospitality Group has broken ground on two hotels in the heart of Mansfield. The 83-room Fairfield Inn & Suites will feature an indoor pool, a whirlpool, a boardroom and a fitness center. The 88-room Hampton Inn & Suites will offer an outdoor pool and spa, 1,500 square feet of meeting space with a boardroom, and a fitness center.