HOUSTON — Dallas-based Scott & Reid General Contractors plans to renovate Museum Medical Tower, a 177,476-square-foot medical office tower located at 1213 Hermann Drive on the north side of the Texas Medical Center in Houston. The $10 million renovation plan includes upgrading the building’s façade, main entrance, roof and landscaping. The overhaul will also deliver systems upgrades and three new suites ranging from 1,700 to 2,244 square feet in size.
PLANO, TEXAS — Marriott International has opened the Renaissance Dallas at Plano Legacy West Hotel, a 304-room hospitality asset located within the $3 billion Legacy West development in Plano. Developed by Plano-based Sam Moon Group, the hotel features an on-site Asian fusion restaurant, an indoor/outdoor lobby bar, pool, fitness center and luxury spa and 26,000 square feet of meeting space.
HOUSTON — JLL has negotiated a 140,695-square-foot industrial lease in Houston on behalf of LSI Industries, an Ohio-based manufacturer of LED lighting solutions. The company will operate out of a 264,461-square-foot building located at 14902 Sommermeyer Road in Prologis Park — West by Northwest. Jeff Venghaus of JLL represented LSI Industries in the lease negotiations.
IRVING, TEXAS — C-III Asset Management, a subsidiary of investment firm C-III Capital Partners, has extended its 57,000-square-foot office lease within The Towers at Williams Square, a four-building development located at 5221 N. O’Connor Blvd. in Irving. The company’s footprint within the Class A property will cover two floors. Tom Lynn and Zach Stevens of NAI Robert Lynn represented C-III in the lease negotiations. Bill Brokaw of Hillwood represented the landlord.
MOORE, OKLA. — BMC Capital has secured a $2 million loan for the acquisition of an 80-unit multifamily property in Moore, a southern suburb of Oklahoma City. Clayton Wells of BMC arranged the 10-year loan, which features a 4.1 percent interest rate, and 30-year amortization schedule, on behalf of the undisclosed borrower.
DALLAS AND FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of two apartment communities totaling 1,020 units in the Dallas-Fort Worth area. The 536-unit Arborstone was built in 1985 and is located at 6500 S. Cockrell Hill Road in Dallas, and the 484-unit Meadow Ridge was built in 1981 and is located at 3001 W. Normandale St. in Fort Worth. Both properties will undergo multimillion-dollar renovations. Al Silva, Ford Braly and Mark McCoy of Marcus & Millichap represented the sellers in both transactions. An out-of-state investment firm purchased Arborstone and a Lubbock-based investment firm purchased Meadow Ridge.
OKLAHOMA CITY — Sealy & Co., a Louisiana-based industrial investment firm, has acquired a 17-building, 1.2 million-square-foot industrial park in Oklahoma City. The transaction comes as part of the company’s acquisition of an undisclosed, private REIT. The buildings are situated in Oklahoma City’s Southwest submarket near Will Rogers World Airport and Interstates 44 and 40.
HOUSTON — Colliers has negotiated the sale of two single-tenant industrial properties totaling 26,925 square feet in Houston. The properties are located at 3730 Dacoma St. and 6942 Signat Drive. Jason Tangen of Colliers represented the buyer, RAH Santa Fe LLC, in the transaction. Lee & Associates represented the seller, New Mexico-based Turnaround Properties LLC.
AUSTIN, TEXAS — AMC Theatres and publicly traded retail REIT Seritage Growth Properties will develop AMC Tech Ridge 10, a 10-screen, 45,000-square-foot movie theatre in Austin. The theater will feature more than 1,000 AMC Signature Recliners and a MacGuffin’s adult beverage concept. Construction on the theater, which is scheduled to open in 2019, will begin later this year.
HOUSTON — Arch-Con Corp. has completed construction of the Northwest Alliance Ministries (NAM) Harrell Family Opportunity Center, a 32,000-square-foot community center in Houston that will provide space for hosting career fairs, conferences and job training sessions. The two-story property features meeting rooms that can accommodate more than 300 people, a food preparation area and a new computer lab. NAM is a nonprofit social work agency that serviced 114,000 people in Houston last year.
