DALLAS — Houston-based AmREIT Inc. has taken a $14 million loan for its Uptown Plaza Dallas property, a 34,250-square-foot retail center located at 222 McKinney Ave. in Dallas. The property is fully leased to tenants including Morton's Steakhouse, Salon 2222, Aqua Medical Spa, The CupCakery, Wells Fargo, The Texas Rangers, Pei-Wei, Potbelly, Smashburger and Verizon Wireless. AmREIT's existing $10.4 million loan was refinanced with a 10-year loan with a 30-year amortization schedule. HFF arranged the loan through the Life Insurance Co. of the Southwest, an affiliate of Sentinel Investments.
HOUSTON — HFF has arranged the sale of a four-property industrial portfolio located in Houston, which totals approximately 935,937 square feet. The properties include the six-building, 205,812-square-foot Astro Business Park, which is 93 percent leased and located at 8825-9087 Knight Road; the two-building, 225,475-square-foot Griggs 1 and 2, which is 91 percent leased and located at 5990-6018 Griggs Road; the four-building, 298,081-square-foot McCarty Business Park, which is fully leased and located at 245-279 McCarty Trail; and the four-building, 206,569-square-foot Westpark 1-4, which is 88 percent leased and located at 8710-8798 Westpark Drive. Rusty Tamlyn and Trent Agnew of HFF's Houston office, along with Randy Baird, Jud Clements and Robby Rieke of HFF's Dallas office, represented the sellers, Dallas-based Cobalt Capital Partners, in the sale. The buyer was San Francisco-based Stockbridge Capital Group.
DALLAS — Victory Park UST Joint Venture I (VPUST), has sold The Vista, a six-story, 129-unit apartment community located at 2345 N. Houston St. in Victory Park in Dallas. The amenities include underground parking, views of downtown Dallas, a rooftop infinity pool and an athletic center. The buyer was Vista Dallas Apartment Co., which is owned by institutional investors advised by J.P. Morgan Asset Management. VPUST is the property of Orlando, Fla.-based UST XVI Victory Park. Bill Miller and Roberto Casas of HFF's Dallas office represented the seller in the transaction. Gary Ross, also of HFF's Dallas office, represented J.P. Morgan. The Vista is currently 98 percent occupied.
RICHMOND — Westwood Financial Corp. has purchased the 123,000-square-foot Waterside Marketplace, a Kroger-anchored retail center located at 8011 Grand Parkway in Richmond. The center is 93.8 percent leased to tenants such as Wells Fargo Bank, Great Clips, State Farm, H&R Block, Kumon Learning and II Primo Wings. George Cushing of Jones Lang LaSalle represented the seller, Regency Centers, in the transaction.
CARROLLTON — Hudson Peters Commercial has arranged the sale of a 150,000-square-foot industrial property, located at 1235 W. Trinity Mills Road in Carrollton. Michelle Hudson of Hudson Peters Commercial represented the buyer, Earl Owen Co., in the transaction. Noel Hutcheson of Colliers International represented the seller, Acquiport DFWIP Inc.
NORTH RICHLAND HILLS — Marcus & Millichap has brokered the sale of the 20-unit La Sierra, an apartment community located at 7102 Glenview Drive in North Richland Hills. The community includes a courtyard and swimming pool. Robert Denninger, Nick Fluellen and Brad Hoover of Marcus & Millichap's Dallas office represented the seller and buyer, both limited liability companies, in the transaction.
TEXARKANA — A joint venture between McCarthy Building Cos. and GCC Enterprises has started construction on the $40.5 million Red River Army Depot, a 230,000-square-foot vehicle assembly building located in Texarkana. Upon completion, which is slated for April 2014, the facility will be responsible for the overhaul, repair and return of the Army's combat and support vehicles. The facility will include a high-bay maintenance facility, interior offices and a cafeteria. The building was designed to achieve LEED Silver certification.
HOUSTON — Atlanta-based Weeks Robinson Properties and Houston-based Avera Cos. plan to develop the 562,000-square-foot Rampart Corporate Center, an industrial park located on a 40-acre site at West Little York and Holliston roads in Houston's northwest industrial submarket. The industrial park will consist of a 131,000-square-foot rear-load building, which is slated for an October 2012 delivery. Restoration Hardware has pre-leased 70,500 square feet in the facility, known as Building 100. The other two buildings include a 300,000-square-foot cross-dock facility and a 132,000-square-foot front-load facility. Powers Brown Architecture is designing the industrial park and Angler Construction is the contractor for Building 100. Faron Wiley of CBRE Group is handling the park's leasing and Carl Mullis and Billy Gold of CBRE Group represented Restoration Hardware in its lease transaction.
DALLAS — The 101-year-old Dallas Coffin Co. Building has been converted to a five-story, 76-room boutique hotel known as NYLO Dallas South Side Hotel, located at 1325 S. Lamar at Belleview in Dallas. The hotel is set to open in mid-August 2012 and will be NYLO's third hotel in the Dallas/Fort Worth market. The hotel will feature SODA Bar, a glass-enclosed bar and lounge featuring an infinity pool and panoramic views of Dallas. The hotel will also include a bistro in the lobby, 950 square feet of meeting space and 4,500 square feet of rooftop terrace space for special events or corporate gatherings.
LA PORTE — Developers ML Realty Partners and National Property Holdings have selected Cadence McShane Construction Co. to build Port Crossing — Building A3, a 261,630-square-foot distribution facility located at 1902 S. 16th St. in La Porte. The facility is located within the 300-acre Port Crossing Commerce Center, a commercial/industrial park. The facility will feature staging bays, 47 dock-high loading doors, 16 rail-served doors, two grade-level ramps and 68 designated trailer parking spaces, a textured tiltwall panel exterior, ESFR sprinkler system, build-to-suit offices and 21 employee/visitor parking spaces. Houston-based Munson Kennedy Partnership is providing architectural services for the project.