HOUSTON — The Shaw Group Inc. has renewed and expanded a lease for 312,564 square feet of office space at 1430 Enclave Pkwy. in Houston. The tenant expanded its lease by more than 106,516 square feet at the six-story, Class A office building, which is located within the Enclave Office Park. Eric Anderson and David Baker of Transwestern represented the landlord, Piedmont Office Realty Trust, in the negotiations. Bill Bosack and Wendi Little of GFM Real Estate represented the tenant.
HOUSTON — The Houston office of Holliday Fenoglio Fowler (HFF) has closed the sale of 675 Bering Dr., a 135,680-square-foot office building in Houston. The transaction included a six-level, 386-space parking garage. Dan Miller and Marty Hogan of HFF led the investment sales team on behalf of the seller, Goddar Investment Group. Griffin Partners 675 Bering LP acquired the property for an undisclosed amount. The eight-story office building is 70.2 percent leased to tenants such as First Investors, Foster & Associates and Café Express.
IRVING, TEXAS — Twinrose Development Co., on behalf of Twinrose Regent, has begun construction on two industrial buildings at Dallas/Fort Worth International Airport’s International Commerce Park in Irving. Twinrose Regent I, which is located at 2611 Regent Blvd., will comprise 265,500 square feet and feature a 30-foot clear height. Located at 2555 Regent Blvd., Twinrose Regent II will consist of 60,000 square feet and have a 24-foot clear height. The two buildings are scheduled for occupancy in December. Hillcrest Bank provided the construction loan for the Twinrose Regent project; Halff Associates is providing architectural services; and Bob Moore Construction is the general contractor.
DALLAS — Thompson National Properties has acquired Oakwood Tower and One Lee Park West in Dallas on behalf of the Bruin Fund. The two Class B, value-added office properties, which are located in the Uptown/Turtle Creek submarket, total 118,370 square feet. Cohen Financial arranged the financing with Grandbridge Real Estate Capital.
DENTON, TEXAS — SCI Real Estate Investments has acquired Denton Towne Crossing, a 36,780-square-foot retail center in Denton, from Weber & Co. Tenants at the center, which is located at the intersection of Loop 288 and Brinker Road, include Verizon Wireless, Men’s Warehouse, Supercuts, Payless ShoeSource, Pei Wei restaurant and McAlister’s Deli. The property is shadow-anchored by Target and The Home Depot. SCI was represented in-house by Scott Derrick and Phillip Duke. Ken Shulman of The Staubach Company represented Weber & Co.
SAN MARCOS, TEXAS — Nelson Investments has sold a 33,600-square-foot Class B office property to 4115 Medical Ltd. The property is located within Centerpoint Business Park at 101 Centerpoint Rd. in San Marcos. Jason Brumm and JJ Williams with Grubb & Ellis represented the buyer in the transaction.
MIDLAND AND LUBBOCK, TEXAS — The Houston office of Live Oak Capital has arranged $43.16 million in permanent loans on four apartment complexes located in Midland and Lubbock. Live Oak’s Jonathan Gilfillan worked on behalf of Haley Associates LP to secure four permanent loans with Column Guaranteed. The communities, which comprise a total of 1,054 units, include Willow Hill Apartments and Meridian Apartments in Lubbock and Polo Park Apartments and Windtree Apartments in Midland.
DENTON, TEXAS — Stratford Group has sold 185 acres in Denton to ALDI Corp. for approximately $3.97 million. Tom Smolik of TIG Real Estate Services represented ALDI Corp. in the sale. The buyer plans to construct a 500,000-square-foot distribution center on the site, which is located near the Denton Municipal Airport.
KATY, TEXAS — Formation Development Group has broken ground on The Sienna at Cinco Ranch, a luxury senior living project in the Cinco Ranch master-planned community in Katy. The development, which will be complete in the third quarter of 2009, will offer 126 independent living and 32 assisted living rental apartments. The Sienna at Cinco Ranch will feature amenities such as concierge services, multiple dining venues, a wine bar and a terrace club activities room. The project is located at 24001 Cinco Village Center Blvd. next to LaCenterra, a new Main Street-style retail center in Cinco Ranch. Spawglass Construction Corp. of Houston is the general contractor for the project, and architectural services are being provided by Three Architecture of Dallas. The Sienna will be managed by The Arbor Company. Guaranty Bank is providing project debt financing.
AUSTIN, TEXAS — Construction is underway on Midtown Commons at Crestview Station, a mixed-use, transit-oriented development (TOD) located in the northwest quadrant of Lamar and Airport boulevards in Austin. The 73-acre site, which will comprise office, retail and a variety of Class A luxury residential units, will be directly adjacent to a Cap Metro commuter rail station that opens this fall. The project’s first phase will be oriented around the transit station and will include 316 residential units, 30,300 square feet of retail space and 30,300 square feet of office space. Additional phases will follow in the near term. Midtown Commons at Crestview Station has received a 3-star rating from ENERGY STAR, a program of the U.S. Environmental Protection Agency and the U.S. Department of Energy. USAA Real Estate Co. is the capital partner on the project. High Street Residential, Trammell Crow Co.’s wholly owned subsidiary, is the developer.