HOUSTON — McCarthy Building Cos. Inc. has broken ground on Phase II of the campus expansion of the Museum of Fine Arts in Houston. Phase II includes the construction of the Nancy and Rich Kinder Building, a 243,632-square-foot gallery for modern and contemporary art. The building will also feature a 200-seat theater, street-level café, restaurant overlooking the sculpture garden and a 115-space underground parking garage. Completion is slated for late 2019.
AMARILLO, TEXAS — NewcrestImage has begun construction on a hotel campus at the intersection of Interstate 40 Frontage Road and South Soucy Road in Amarillo. The project will deliver three hotels totaling approximately 300 rooms. The first property, a 94-room Tru by Hilton hotel, is expected to open in mid-2018. Construction of a Hyatt-branded hotel and Marriott-branded hotel is slated to begin by the end of the year.
SAYRE, OKLA. — CBRE has brokered the sale of Sayre Memorial Hospital, a 54,960-square-foot medical facility located at 911 Hospital Drive near Interstate 40 in the Oklahoma City metro of Sayre. Daniel Morris of CBRE and Allen McMurty of Cushman & Wakefield represented the seller, Sayre Memorial Hospital Authority, in the transaction. Healthcare Properties Transaction Group of Oklahoma LLC purchased the property for an undisclosed price.
HOUSTON — Boyd Commercial has negotiated a 50,400-square-foot lease at Apex Distribution Center, a 410,000-square-foot industrial property located at 5750 Brittmoore Road in Houston. David Boyd, Greg Barra and Wes Williams of Boyd represented the landlord, Crow Holdings, in the transaction. Richard Chen of Richard’s Investments represented the tenant, an affiliate of furniture manufacturer Furinno.com. The new lease brings the property, which houses the former Goya Foods Building, to 86 percent occupancy.
SAN MARCOS, TEXAS — 29th Street Capital (29SC) has acquired The Reserve at West Avenue, a 152-unit, 488-bed student housing community in the San Antonio metro of San Marcos. Located at 109 West Ave., approximately two miles from Texas State University, the property consists of one-, two-, three- and four-bedroom units, each fully furnished, including washers and dryers. Amenities include a pool, 24-hour fitness center, private study rooms and a clubhouse with a game room. 29SC will invest roughly $1 million to the unit interiors and the property’s amenities.
BELLAIRE, TEXAS — SDI Realty Advisors has begun redeveloping Bellaire Town Center, a one-story, 39,000-square-foot retail center in the Houston metro of Bellaire. The project will deliver three buildings and increase the size of the center to 72,000 square feet. Phase I of construction is scheduled for a January 2018 completion and Phase II is scheduled for a fall 2018 completion.
RICHLAND HILLS, TEXAS — Henry S. Miller Brokerage (HSM) has negotiated the sale of the former All About Autos & North Hills Body Shop, a 30,2000-square-foot facility in the Fort Worth suburb of Richland Hills. Situated on three acres at 3925 Booth Callloway Road and built in 1986, the property features 36 service bays. Bill Bledsoe of HSM represented the seller, J&H Associates LP, in the transaction. John Lucas of KW Commercial represented the buyer, Steve’s Auto Repair.
FARMERS BRANCH, TEXAS — Colliers International has arranged the sale of Hutton Court, an industrial property in the Dallas-Fort Worth metro of Farmers Branch. The property, which was 87 percent occupied at the time of sale, features 52,613 square feet of office and warehouse space. Lizzy Blake of Colliers represented the seller, Utah-based Mountain West Industrial LLC. Dallas-based Frontier Equity LLC purchased the asset for an undisclosed price.
HUMBLE, TEXAS — Dallas-based investment firm STRIVE has brokered the sale of a 3,583-square-foot retail freestanding retail property in the northern Houston suburb of Humble. Leased to Taco Cabana, the property is an outparcel to a Super Target retail center. Kyle Rozell and Anthony Pucciarello of STRIVE represented the seller, a California-based private investor, and procured the buyer, a Houston-based private investor.
SHERMAN, TEXAS — The Sherman Economic Development Corp. (SEDCO) and Thea Development LLC have announced plans for Cassini Gateway I, a campus capable of accommodating more than 1 million square feet of data center space. The campus will be housed within Progress Park, a 3,300-acre industrial park in the North Texas city of Sherman. The project is expected to draw capital investment in excess of $1 billion and create approximately 300 construction jobs and 150 engineering and technology jobs over five years.
