Texas

ARA SECURES SALE OF SUMMERCREEK APTS.

by admin September 11, 2012

SAN ANTONIO — ARA has brokered the sale of the 180-unit Summercreek Apartments, located at 11851 Belair Drive in San Antonio. The apartment is currently 93 percent occupied and features two swimming pools with a waterfall, a fitness center, sports court, playground and a barbecue area. Casey Fry of ARA's San Antonio office represented the seller, New Jersey-based Wilshire Enterprises, in the transaction. Santa Ana, Calif.-based SGI Partners is the buyer, and Summercreek is the company's first Texas property.

September 11, 2012

HFF ARRANGES EQUITY, LOAN FOR INDUSTRIAL PORTFOLIO

by admin September 11, 2012

AUSTIN — HFF has secured joint venture financing between Live Oak-Gottesman LLC and KFG Investment Co. for a 204,000-square-foot industrial portfolio, located near the section of Interstate 35 and West Howard Lane within Tech Ridge, a 1,000-acre business park in Austin. The portfolio consists of three Class A industrial properties 94 percent leased to six tenants including NCS Pearson, Ultra Clean Technology, Dynamic Manufacturing, Anixter and Finisar Corp. Randy Baird, Jud Clements and Robby Rieke of HFF arranged the equity through Principal Real Estate Investors on behalf of the borrowers, Live Oak-Gottesman and KFG Investment Co. Additionally, Mona Carlton of HFF arranged debt financing for one of the properties.

September 11, 2012

Civic Texas

S&P COMPLETES $14M HIGH SCHOOL FACILITY

by admin September 10, 2012

BELLAIRE — Satterfield & Pontikes Construction has recently finished the 78,000-square-foot Jack T. Trotter Academics & Sciences Building, a $14 million high-tech facility on Episcopal High School's campus in Bellaire. The facility offers wireless white boards, touch-screen computers, a two-story lobby, classrooms, science and language labs, performing arts and administrative areas. Jackson & Ryan Architects designed the facility.

September 10, 2012

Industrial Texas

375,000 SF INDUSTRIAL FACILITY SELLS

by admin September 10, 2012

PARIS — A 375,000-square-foot industrial facility, located on 89 acres at 2020 19th St. NW in Paris, has recently sold. Bob Chodos, Chris Cummings and Allen Gump of Colliers International represented the seller, Sara Lee Diversified LLC, in the transaction. The buyer was NWC-Paris LLC.

September 10, 2012

Civic Texas

CADENCE MCSHANE DELIVERS ELEMENTARY SCHOOL

by admin September 10, 2012

SEAGOVILLE — Cadence McShane Construction Co. has completed the development of the 106,462-square-foot Seagoville North Elementary School, located at 1900 Seagoville Road in Seagoville. The school is within the Dallas Independent School District and will serve approximately 810 pre-kindergarten through fifth-grade students. The school will feature 39 classrooms, science labs, computer labs, a media center, multipurpose room, kitchen, cafeteria, library and gymnasium space. PageSoutherlandPage designed the school to meet the Collaborative for High Performance School Design Guidelines. The school is part of the 2008 Dallas ISD Bond Program, a $1.35 billion capital improvement plan.

September 10, 2012

Office Texas

JPMORGANCHASE TOWER SIGNS SEVERAL LEASES

by admin September 10, 2012

HOUSTON — The 1.7 million-square-foot JPMorganChase Tower, a 75-story office tower located at 600 Travis St. in downtown Houston, has experienced a frenzy of leasing activity. The tower is now more than 96 percent leased, thanks to leases totaling more than 145,000 square feet. Linn Energy has expanded its lease by 58,944 square feet, which brings the total to 175,000 square feet. Trey Strake and Chris Oliver of Cushman & Wakefield represented the tenant in lease negotiations. Hines is the property manager of JPMorganChase Tower. Other leasing activity includes Breitburn Energy Partners expanding its lease by 22,561 square feet for a total of 66,045 square feet; Indigo Minerals and M2 Midstream renewed leases for 21,900 square feet; Denham Capital Management renewed its lease for 13,191 square feet; Crest Investment Co. renewed its lease for 11,493 square feet; KKR has expanded its lease by 9,286 square feet for a total of 23,291 square feet; McMurrey Investment Advisors signed a lease for 5,281 square feet; and KeyBank National Association signed a lease for 2,533 square feet.

September 10, 2012

Multifamily Texas

LMI ARRANGES TWO MULTIFAMILY LOANS

by admin September 10, 2012

BEDFORD AND FORT WORTH — LMI Capital has arranged $7 million in loans for two multifamily properties: Cottages of Bedford Apartments at 2000 Park Place Blvd. in Bedford and Travis Gardens Apartments at 2901 Travis Ave. in Fort Worth. Chris Pollard of LMI Capital arranged $5 million in acquisition financing with a 10-year term through Fannie Mae for Cottages of Bedford. Pollard also arranged a $2 million loan with a 10-year term for the borrower to pay off existing debt for Travis Gardens.

September 10, 2012

Office Texas

ARPT PURCHASES WESTERN PLACE I & II FOR $34M

by admin September 7, 2012

FORT WORTH — American Recovery Property Trust (ARPT) has acquired Western Place I & II, a 425,000-square-foot office complex in Fort Worth, for $34 million. The complex consists of two 10-story buildings and features tenants such as Lockheed Martin, BAE Information Systems, APEX Capital Corp. and Computer Science Corp. The transaction was ARPT's first real estate acquisition.

September 7, 2012

Retail Texas

QUIKTRIP BEING BUILT IN RIVER OAKS

by admin September 7, 2012

RIVER OAKS — QuikTrip is developing a new Generation III store in River Oaks. The store will employ approximately 15 to 18 people and will feature a made-to-order barista, which serves specialty coffees, ice cream and smoothies. Construction of the QuikTrip includes demolishing the Caravan Inn, which is located on the site. The River Oaks Economic Development Corp. and River Oaks City Council recently approved a $300,000 incentive package for the new store, which is slated for a March 2013 opening.

September 7, 2012

Office Texas

HFF CLOSES SALE, FINANCING FOR HOUSTON OFFICE PORTFOLIO

by admin September 7, 2012

HOUSTON — HFF has arranged the sale of a three-building office portfolio totaling 566,308 square feet, located at the intersection of Interstate 10 and Dairy Ashford Road in Houston's Energy Corridor. The three eight-story office buildings are 93.6 percent leased. Robert Williamson and H. Dan Miller of HFF represented the sellers, Falcon Southwest and CarVal Investors, in the transaction. Susan Hill of HFF arranged the acquisition financing through JPMorgan Chase Bank on behalf of the buyer, Beacon Investment Properties.

September 7, 2012

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