PLANO, TEXAS — Foxworth Galbraith Lumber Co. has leased 22,709 square feet of office space in Preston Park Financial Center located at 4965 Preston Park Blvd. in Plano. Clint Madison and Rodney Helm with Cushman & Wakefield represented the landlord, Griffin Partners. Janice Peters of Hudson Peters Commercial represented Foxworth Galbraith Lumber Co.
BURLESON, TEXAS — Construction has begun on the Mustang Creek Estates of Burleson seniors housing project located at 1155 NW John Jones Drive in Burleson. The $7 million, 42,000-square-foot assisted living and memory care community will include six specially designed homes, housing up to 15 seniors each. The homes will include an open kitchen, personal assisted care and daily activities. The community will house 90 residents and will open in summer 2016. The community will sit on just over seven acres southwest of Burleson Church of Christ. Joseph E. Helmberger of Kimley-Horn designed the community.
HOUSTON AND STAFFORD, TEXAS — RealtyMogul.com has raised $1.2 million in equity for Brennan Investment Group to acquire a two-property, 132,997-square-foot flex industrial portfolio in Houston and Stafford. This is the third transaction between RealtyMogul.com and Brennan Investment Group. The buildings are located at 12705 Kirkwood Center and 8600-8850 Jameel Road. Both are grade-level industrial buildings, with a mix of office and warehouse space. At the time of closing the portfolio was 94 percent occupied by 36 tenants.
EL PASO, TEXAS — The Camino Real Regional Mobility Authority has awarded a $61 million transit contract to Paso del Norte Trackworks, a joint venture of Granite Construction Co. and RailWorks Track Systems Inc. The joint-venture team will be responsible for the construction of a new electric streetcar system linking the Mexican border, El Paso downtown business district, local hospitals, residential districts and the University of Texas El Paso. The work includes 4.8 miles of track, 27 streetcar stops, related street improvements, underground drainage, water and sewer improvements, two bridge modifications and a vehicle maintenance and storage facility near the existing Sun Metro Downtown Transfer Center. The Texas Department of Transportation is funding the project. Construction is scheduled to begin in December and will take approximately two years to complete.
GRAND PRAIRIE, TEXAS — Lee & Associates has completed a lease transaction for 14,475 square feet of space located at 2618 W. Highway 303 in Grand Prairie. Robert Miller of Lee & Associates represented the tenant, Oakcroft Associates Inc. dba Roofmaster. Luke Davis of Stream Realty Partners represented the landlord.
MCKINNEY, TEXAS — Robert Faust Mortgage Company recently arranged $3,813,000 in equity for the proposed Wilmeth Ridge project in McKinney. The proposed residential development will be 124 acres located at the northeast corner of Wilmeth and Ridge roads. There will be 291 lots constructed in two phases. Grand Homes and Shaddock Homes are buying all the lots in Phase I. The developer Wynne Jackson has developed over 10,000 residential lots.
CARROLLTON, TEXAS — NewQuest Properties is set to expand the 154,863-square-foot Carrollton Town Center, where a $7 million redevelopment is attracting the first stores in Texas for several Asian brands. NewQuest bought the shopping center at 2540 Old Denton Road in spring 2014 and began redevelopment in June of the same year. The Houston-based developer has acquired 4.7 acres across the street for a second phase. Engineering work has begun for the shopping center’s expansion at the intersection of President George Bush Turnpike and Old Denton Road. New tenants include California-based 99 Ranch Market, a specialty grocer catering to the Asian-American community, Gen Korean BBQ House and Kula, a revolving sushi bar which will total 3,111 square feet.
FORT WORTH, TEXAS — Anthracite Realty Partners and Bennett Benner Partners have selected Balfour Beatty Construction to provide construction services for a high-rise in downtown Fort Worth. Balfour Beatty is engaged in shaping the project’s final scope and contract, which includes the core, shell and interior finish-out of the 25-story, 323,415-square-foot Class A commercial office tower at 640 Taylor St., which will be known as 640 Taylor. The mixed-use tower will include ground-floor retail shops, a 12th-floor lobby and conference center and an eatery featuring a 3,400-square-foot dining deck overlooking Sundance Square and Burnett Park. Adjacent to the eatery will be a 3,200-square-foot roof garden. Scheduled for completion in December 2017, 640 Taylor will be the seventh tallest building in Fort Worth and the first one to exceed 200 feet since 2009. The project will include 900 new parking spaces.
EL PASO, TEXAS — Freedom Crossing at Fort Bliss, the first open-air shopping center on a military installation, will be opening a Cabela’s seasonal store in time for holiday shopping. The 10,000-square-foot store will also include access to the full spectrum of Cabela’s products in-store via Cabelas.com. The Freedom Crossing Cabela’s location will offer soft goods, shoes, hunting gear, outdoors equipment and gifts. In addition to Freedom Crossing at Fort Bliss, Cabela’s will open seasonal locations this year with The Army & Air Force Exchange Service (AAFES) at Fort Hood, Texas and Fort Leonard Wood, Mo.
HOUSTON — Marcus & Millichap has arranged the sale of Devon Office Park, a 26,735-square-foot building located in Houston. Derek Hargrove and Justin Miller of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a Houston-based private investor. Juan Cuevas, a senior associate in Marcus & Millichap’s Houston office, secured the buyer, an out-of-state private investor utilizing a 1031 tax-deferred exchange. Devon Office Park is located at 17300 El Camino Real in Houston.