HOUSTON — Chicago-based Brennan Investment Group LLC has acquired a five-building, 135,571-square-foot industrial park in northwest Houston. The buildings offer a mix of office and warehouse space and were collectively 84 percent leased at the time of sale. Other terms of sale were not released.
CARROLLTON, TEXAS — NAI Robert Lynn has secured a 43,839-square-foot industrial lease at 2045 Westgate Drive in the Dallas metro of Carrollton on behalf of Snap Drape Brands LLC, a provider of linens and draperies. Built in 1999, the building offers about 134,000 square feet of net rentable space. Cole Horowitz and Mark Miller of NAI Robert Lynn represented the tenant in the lease negotiations.
MCKINNEY, TEXAS — Moss Construction will relocate its office headquarters from El Paso to a 10,000-square-foot space at 6950 TPC Drive in the Dallas metro of McKinney. The company, which currently employs about 600 people throughout Florida, Hawaii and Texas, expects to expand its employee base following the move.
DALLAS — The Drever, a 52-story mixed-use property in downtown Dallas, will undergo a redevelopment project valued at approximately $380 million, according to the Dallas Business Journal. The outlet also reports that developer Drever Capital Management recently landed a $67 million bridge loan through Starwood Property Trust, enabling it to move forward with the redevelopment. The project will convert the 1.5 million-square-foot building into a development comprising a 324-unit high-rise apartment tower, a 218-room Thompson hotel and undisclosed amounts of office and retail space. Dallas-based Merriman Anderson is providing architectural and design services for the project and Andres Construction is serving as general contractor. The project is expected to be complete by the end of 2018.
EL PASO, TEXAS — Paul Foster, the owner of the Plaza Hotel in El Paso, will invest approximately $78 million in renovations of the vacant property, which was built in 1930 and is a historic landmark. Foster’s team plans to convert the building into a boutique hotel with a minimum of 100 rooms, as well as 6,500 square feet of restaurant and bar space and 7,600 square feet of meeting space. Construction is expected to begin in early 2018.
SAN ANTONIO — Bob Moore Construction has competed construction of a 100,000-square-foot call center for General Motors (GM) Financial in San Antonio. The two–story property is GM Financial’s fifth call center in North America. The building features amenities such as a commercial cafeteria, arcade room and a gym with locker facilities. Designed by San Antonio-based RVK Architects, the project is expected to create up to 700 new jobs.
DALLAS — Stream Realty Partners has negotiated a pair of restaurant leases at Trammell Crow Center in Uptown Dallas. Urban market chain Royal Blue Grocery signed a lease for a 3,300-square-foot store and a 2,000-square-foot kitchen, and restaurant operator NL Group Inc. signed a lease for 3,100-square-foot space capable of accommodating up to 80 patrons. Trammell Crow Center, a 1.2 million-square-foot office tower located at 2001 Ross Ave. near Klyde Warren Park, is currently undergoing a redevelopment of its lobby, plaza and lower exterior.
HOUSTON — Quantum Energy Partners has signed a 32,000-square-foot office lease on the top floor of Capitol Tower, a 35-story, Class A office property under construction in downtown Houston. Cushman & Wakefield represented Quantum Energy in the lease negotiations and CBRE represented the landlord, Skanska. With this signing, Capitol Tower, construction of which is expected to be complete in 2019, is now 33 percent preleased.
CONROE, TEXAS — Falcon Steel America (FSA), a metro Fort Worth-based producer of steel structures, has acquired a 226,000-square-foot manufacturing facility. The property is situated on 25 acres at 3575 Pollok Drive in Conroe, about 40 miles north of Houston. The company expects to hire 150 new employees to work at the plant, approximately doubling its manufacturing capacity.
HOUSTON — NAI Partners has negotiated a 101,460-square-foot industrial lease at 971 N. Sam Houston Parkway E. in Houston on behalf of Air General Inc., an air and water cargo handling firm. John Ferruzzo and Nick Peterson of NAI Partners represented the tenant in the lease negotiations. Blake Warren and Justin Robinson of Stream Realty Partners represented the landlord, Teachers Insurance and Annuity Association of America.
