DALLAS — KDC and Invesco Real Estate have begun construction on a 12-story, 150,000-square-foot office building in Uptown Dallas. The planned Class A office building will be located at 1920 McKinney Ave. and will feature six stories of office space on top of a six-story parking structure. The ground floor will have 8,500 square feet of retail and restaurant space. The building is scheduled for completion in early 2016.
Texas
HOUSTON — Wood Partners hosted a grand opening event for Alta City West, a 133-unit apartment complex in Houston. The 119,000-square-foot complex sits on three acres at 9233 Westheimer Road and is currently 29 percent leased. Good, Fulton & Farrell designed the building. Alta City West includes five studios a mix of studio, one- and two-bedroom units, and 188 parking spaces. Amenities include a clubhouse, gym, outdoor kitchen areas and a pool. The complex is located close to major local employers including Phillips 66, Chevron, Halliburton, BP, Shell and Exxon.
KATY, TEXAS — Q10 | Kinghorn, Driver, Hough & Co. has arranged a $4.5 million loan for the refinancing of the Entrust Office Building in Katy, a suburb of Houston. The 32,382-square-foot building, located near the Grand Parkway and Westpark Tollway, is the result of a collaboration between The Mission Cos. and Entrust Inc. Thrivent Financial provided the 10-year loan, which includes a 25-year amortization schedule. Ray Driver III and Dave Holland of Kinghorn worked to arrange the transaction.
HOUSTON — HFF has arranged both the sale and financing for 8 West Centre, a new Class A office building on the Houston Tollway in Houston. HFF marketed the property on behalf of the seller, Core Real Estate. Azrieli Group, a real estate investment company based in Tel Aviv, purchased the asset for an undisclosed price. HFF assisted Azrieli in securing a five-year, fixed-rate acquisition loan through Aegon USA Realty Advisors LLC. Completed in 2013, 8 West Centre is a 227,045-square-foot, four-story property with a 938-space parking garage. The LEED Silver designated building is fully leased to two tenants, Cameron International Corp. and Helix Energy Solutions. The property sits on nine acres at 3505 W. Sam Houston Parkway North inside the Beltway 8 loop road. The HFF team representing the seller included Dan Miller, Rusty Tamlyn, Mark West and Trent Agnew. HFF’s debt placement team included Matt Kafka and Wally Reid.
DALLAS — Marcus & Millichap has arranged the sale of 18170 Hillcrest Road, a 12,654-square-foot office property in Dallas. Ron Hebert of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a partnership. An outside broker represented the buyer, an owner-user. The property was built in 2001 on 1.2 acres at the northeast corner of Hillcrest Road and Frankford Road. The building includes a loading dock and a separate 1.6-acre parcel of undeveloped land.
PLANO, TEXAS — Jones Lang LaSalle will provide management services for Toyota’s planned new North American headquarters in Plano, a suburb of Dallas. Toyota has also hired developer KDC and design firm Corgan for the project. JLL previously assisted Toyota in analyzing potential sites before the company chose Plano. Toyota plans to move into its new headquarters at the southwest corner of State Highway 121 and Legacy Drive in either late 2016 or early 2017. The headquarters is expected to employ 4,000 workers in a 1 million-square-foot property.
HOUSTON — Houston-based Baker Katz has negotiated 9,000 square feet of leases for Nothing Bundt Cakes in the Houston area. Lunden McGill of Baker Katz negotiated the leasing of the five locations with a number of different brokers. Each location is about 1,800 square feet. Nothing Bundt Cakes is known for its desserts, with locations throughout the country.
PLANO, TEXAS — HFF has arranged financing for The Preserve at Arbor Hills in Plano. HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to secure the seven-year loan through Northwestern Mutual. Loan proceeds were used to acquire the property. The Preserve at Arbor Hills is located at 7001 W. Parker Road next to the Arbor Hills Nature Preserve and 21 miles north of downtown Dallas. The property is 97 percent leased and includes 330 one-, two- and three-bedroom units averaging 1,006 square feet. The complex was built in 1998. Amenities include a pool, spa, gym, picnic areas, business center and coffee bar. John Brownlee led the HFF team representing the borrower.
HOUSTON — Boyd Commercial/CORFAC International has completed a trio of transactions for Jetco Delivery Inc., a trucking and logistics company. The transactions include the acquisition of a new property, sale of an existing property and lease of a third property. Bo Pettit and David Boyd of Boyd Commercial arranged the transactions for Jetco, which has been on an extended search for the right place to expand and consolidate their business. Upon completion, the company’s new headquarters, located at 3010 Aldine Bender drive in Houston, will have 30,000 square feet of office, warehouse and truck maintenance space.
COPPERAS COVE, TEXAS — Dougherty Mortgage LLC has arranged a $1.5 million Fannie Mae loan for the refinancing of Brookview Village, a 96-unit multifamily affordable housing property in Copperas Cove, near Fort Hood in central Texas. The complex offers one- and two-bedroom floor plans for seniors aged 55 or older. Dougherty’s Austin office arranged the 15-year loan with a 30-year amortization schedule for the borrower, Copperas Cove Brookview Village Apartments LP.