SEABROOK, TEXAS — David Lee of Transwestern Houston has brokered the sale of a 35-acre tract of undeveloped land in Seabrook to Philadelphia-based customized logistics solutions company XTL, Inc. The buyer plans to construct a 300,000-square-foot to 400,000-square-foot robotic warehouse and distribution center on the site, which is located within the master-planned Bayport complex.
Texas
THE WOODLANDS, TEXAS — VillaSport Athletic Club and Spa will begin construction in early 2008 in The Woodlands. The 87,000-square-foot project, which will sit on 12.4 acres on Technology Forest Drive, will feature an outdoor kid’s pool complex; an outdoor 25-yard, five-lane adult lap pool with adjoining hot tub; a poolside VillaCafé; and an 18,000-square-foot air-conditioned facility for year-round indoor soccer and other sports. Opening is planned for late 2008.
FRISCO, TEXAS — North Texas Enterprise Center for Medical Technology (NTEC) will break ground on a 35-acre medical technology park in Frisco. The park, located at 6170 Research Rd., will be the largest medical technology park in Texas. Phase I will include a two-story, 50,000-square-foot building that will offer office and lab space to as many as 35 medical device and technology-based businesses. Frisco Economic Development Corp. has passed an $11 million bond issue to help fund Phase I. Project partners include Farmington Hills, Mich.-based contractor The Sinacola Companies and Dallas-based architecture firm Croft Architectural Consortium.
TEXAS AND NEW MEXICO — Centerline Holding Co. has provided $72 million in financing for San Francisco-based The Reliant Group and a group of non-profit partners for the acquisition of a 20-property multifamily portfolio in Texas and New Mexico. Centerline provided $25.3 million in tax credit equity and $46.9 million in tax-exempt bond financing. An additional $24 million was provided by other sources. Plans include a complete renovation to the interior and exterior of the properties, which are slated for completion late 2008.
AUSTIN, TEXAS — Stream Realty Partners has acquired a 97,594-square-foot office property in Austin. Located at 8100 Cameron Rd., the property features two, two-story buildings. The buyer was represented in-house by Derek Land, and Walter Saad and Cathy Nabours of CBRE private client group represented the undisclosed seller. The buyer plans to renovate the lobby and common areas. The acquisition price was undisclosed.
MONTGOMERY COUNTY, TEXAS — A new urban village is being planned at the intersection of Interstate 45 and FM 3083/Carter Moore Parkway in Montgomery County. The 147-acre property, which is located midway between Lake Conroe and the Lone Star Executive Airport, will comprise retail, restaurants, offices, medical facilities, a hotel, luxury rental apartments and brownstone townhomes. Madeley Interests, the owner, has engaged Roger Galatas Interests as real estate advisor to create a land use plan and marketing strategy for the property.
ROUND ROCK, TEXAS — NorthMarq Capital recently arranged approximately $8.11 million in joint venture/equity capital for Sunrise Apartments, a 384-unit multifamily community located on Sunrise Boulevard north of Old Settler’s Boulevard in Round Rock. NorthMarq arranged the joint venture and equity placement for the borrower, a national apartment development company, through its relationship with Arsenal Real Estate Funds.
SUGAR LAND, TEXAS — Marcus & Millichap has facilitated the $9.6 million sale of Sugar Land Shopping Center in Sugar Land. Located at 3410 Highway 6 South, the 102,937-square-foot shopping center is situated on 8.43 acres. Tenants of the 100 percent occupied plaza include Big Lots, DuFour Dance and Incredible Pizza. Don Stringham and Charles Lucenay of Marcus & Millichap’s Houston office secured and represented the buyer, a Houston-based LLC, in the transaction. Jerry Goldstein, also of Marcus & Millichap’s Houston office, marketed the property on behalf of a Houston-based developer.
DALLAS — ProLogis has acquired 88 acres of land for a new industrial park in East Dallas. The first phase of the park, to be located near Interstate 30 at the northeast corner of South Buckner Boulevard and Eastpoint Drive, is slated to begin construction in the first half 2008. Phase I will comprise the construction of a 390,000-square-foot distribution facility. Upon completion, the park will consist of six buildings totaling 1.6 million square feet of distribution space. ProLogis acquired the land from Buckner International for an undisclosed amount. Pax Glenn of Glenn Commercial Real Estate represented the buyer in the transaction, and Mike Wagner of the Baptist Foundation of Texas represented the seller.
FORT WORTH AND CROWLEY, TEXAS — Tabani Group has purchased two neighborhood shopping centers, Golden Beach Marketplace in Fort Worth and The Shoppes at Deer Creek in Crowley, from Weingarten Realty Investors. The 93,430-square-foot Golden Beach Marketplace is located at the southeast corner of Golden Triangle Boulevard and North Beach Street and is the only grocery-anchored shopping center serving the northeast Fort Worth suburb. Its other major tenants include Blockbuster Entertainment, Pizza Hut and Sonic. The 87,571-square-foot Shoppes at Deer Creek is located on the northwest corner of FM 1187 and FM 731/South Crowley Road. It is 85.3 percent leased to 15 tenants, including Blockbuster Entertainment, Nationwide Insurance, Planet Beach and Pizza Hut. Tom Salanty of the capital markets group of Cushman & Wakefield of Texas represented the seller in the transaction. The sale price was undisclosed.