IRVING, TEXAS — NYLO Hotels LLC recently broke ground on its third property, a 200-room hotel in Irving’s Las Colinas mixed-use community. NYLO Las Colinas will be an upscale, loft-style hotel featuring a 3,000-square-foot ballroom; an outdoor courtyard; a full-service restaurant; a high-energy bar; meeting space; a business center; a high-tech gym; a game room; a library; and a boutique shop. ORIX Real Estate Capital of Chicago provided financing, and Key Construction Texas LLC is the general contractor.
Texas
LUBBOCK, TEXAS — Texas Tech University has opened the Mark and Becky Lanier Professional Development Center at the School of Law. The 34,560-square-foot facility, which was designed by Dallas-based SHW Group, features the 130-seat Donald Hunt courtroom; a 300-seat auditorium/classroom; space for the Office of Academic Success Programs, Career Services, Alumni Development and student organizations; and a practice courtroom. Houston-based Vaughn Construction served as general contractor for the $13.6 million project.
LEWISVILLE, TEXAS — Majestic Realty Co. is nearing completion on three speculative buildings that total 1.35 million square feet at Majestic Airport Center DFW in Lewisville. The Class A industrial facilities comprise Building 1, which spans 130,000 square feet; Building 2, which totals 194,000 square feet; and Building 3, which is the largest speculative industrial building to date in the Dallas/Fort Worth area at 1.02 million square feet. Majestic Airport Center DFW, a joint venture between Majestic Realty Co. and Northwestern Mutual, is a seven-building, master-planned industrial park that will offer 3 million square feet of Class A industrial space upon completion.
SAN ANTONIO — West Palm Beach, Fla.-based Sterling Organization has acquired Ingram Hills Shopping Center, an 80,307-square-foot retail property in San Antonio. Verde Ingram Hills LP sold the infill, grocery-anchored center, which is located on the southwest corner of Ingram and Callaghan roads on the northwest side of town, for $5.35 million. La Fiesta Supermarket anchors Ingram Hills, and additional tenants include Chase Bank, Blockbuster, Dollar General and Payless ShoeSource.
HOUSTON — Andrew Sowell, Clay Peeples and Bo Pettit of Houston-based Boyd Commercial have negotiated the sale of a freestanding, tiltwall, office/warehouse facility in Houston. Luber Brothers Inc. purchased the 21,500-square-foot, 2.5-acre property, which is located at 15375 Vantage Pkwy. East, from Turnkey Building & Design.
WICHITA FALLS, TEXAS — The Hartford, Mass., office of Tremont Realty Capital has arranged financing for the refinance of an apartment complex in Wichita Falls. The 2-year, $3.4 million bridge loan was funded through a regional bank. The property, Summit Apartments, comprises 149 units.
NEW BRAUNFELS, TEXAS — Greg Marberry of CB Richard Ellis (CBRE) has represented Cleveland, Ohio-based Weston Inc. in the purchase of the Moll Building in New Braunfels. The facility, which is located at 710 FM 306, spans 102,940 square feet. Weston has leased the property to EH Systems.
MCALLEN, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged a $5.7 million fixed-rate mortgage for The District Plaza in McAllen Milestone Therapy and Blue Aquarium Restaurant anchor the 46,000-square-foot shopping center. The mortgage was arranged on behalf of a partnership sponsored by Tony Domit.
HOUSTON — Doug Bates of Henry S. Miller Commercial has represented Louisiana-based investor Robert Leavines in the sale of 2.47 acres at the 12900 block of FM 529 in Houston. A local commercial real estate developer, 12926 FM 529 LLC, purchased the site. The buyer plans to develop a single-tenant or multi-tenant office/warehouse building on the tract. Steve Kuper and Mark Ward of National Realty Group represented the buyer.
FORT BEND COUNTY, TEXAS — Hillwood recently sold 62 acres in its 3,827-acre Sienna South community in Fort Bend County to the Fort Bend Independent School District. The site will be used for the development of a high school and an elementary school. Construction on the high school is planned to begin this summer, and completion is expected in August 2010. Johnson Development Corp. is assisting Hillwood by providing the necessary infrastructure, including roads and utilities, to serve the schools.