CEDAR PARK, TEXAS — Ryland Homes Austin plans to build its newest community, The Reserve at Twin Creeks, in Cedar Park, near Austin. The 760-acre, master-planned community will consist of 76 homes and 50 condominiums in three neighborhoods — The Crossings, The Bluffs and Sunset Ridge Condominiums. The development is adjacent to the Balcones Canyonlands Conservation Preserve. Resident amenities will include a private clubhouse with upscale dining, tennis courts, a recreation center, water park and two swimming pools.
HOUSTON — Levey Group, an industrial development company, has executed a 150,000-square-foot office/warehouse lease with Crane Worldwide Logistics at 6501 Navigation in Houston. The 21.6-acre industrial complex is located east of downtown Houston near the ship channel. Jim Foreman and Beau Kaleel of Cushman & Wakefield represented Levey Group in the transaction. Ed Frantz and Kevin Kushner of CBRE represented Crane Worldwide Logistics.
FORT WORTH, TEXAS — Marcus & Millichap has secured the sale of the 33-unit Las Brisas, an apartment complex located at 6414 Brentwood Stair Road in Fort Worth. The property was built in 1969 and underwent significant renovations in 1993. William Jarnagin, Michael Ware and Stephen Crittenden of Marcus & Millichap's Dallas office represented the seller, a private investor, in the transaction.
HOUSTON — CBRE has been retained to market 919 Milam, an historic 24-story office tower located in Houston's CBD. The office building spans 543,259 square feet and is 94 percent leased to energy-based tenants. The property is LEED Silver certified and is Energy Star rated. The office building is situated at the center of the downtown Houston pedestrian tunnel system, and it features four levels of parking, a food court, new tenant conference center, full-service banking and 24-hour security. The property has undergone $19.3 million worth of renovations since 2006, including more than $3.2 million invested by the current owner, Fort Worth-based M-M Properties. Jared Chua, Bernard Branca, John Alvarado, Russell Ingrum and Gary Carr of CBRE will market 919 Milam on behalf of the owner.
KILLEEN, TEXAS — Skanska has signed a contract with Texas A&M University-Central Texas to construct a $23.8 million, four-story facility on its new Killeen campus. The project is Phase II of the new master-planned campus, which will house the campus library, counseling center, career services, school of education, social work program, instructional technology, teachers' offices, classrooms and laboratory space. Good Fulton & Farrell Architects is the project's architect. Construction is under way on the building and its completion is expected in March 2014.
DALLAS — Billingsley Co. has begun construction of the new 300,000-square-foot Bush Beltline Distribution Center, located at the intersection of Belt Line Road and George Bush Turnpike 190 in Dallas. The distribution center will include 32-foot clear heights, cross docks and 135-foot truck courts. The building was 86 percent leased before the ground breaking. Mattress Firm has secured a lease for 153,000 square feet in the center. The landlord, Billingsley Co., was self-represented by Marijke Lantz and Carter Crow. Damian Rivera and Graham Horton of Stream Realty Partners represented Mattress Firm. The property is slated for a July 2013 completion.
DALLAS — Hammond Hanlon Camp LLC, a healthcare investment banking firm, has advised SRP Medical and Forest Park Medical Center on the $26.75 million sale of Forest Park Pavilion, a 69,000-square-foot medical office building in Dallas. Healthcare Trust of America, a publicly traded REIT, has purchased the property, which is fully leased to Forest Park Medical Center and third-party physicians. Forest Park Pavilion is part of the Forest Park Medical Center campus.
KYLE, TEXAS — Block Funds has acquired The Settlement, a 396-unit luxury multifamily community located in Kyle, which is just south of Austin. The property was delivered in January 2012. Block Multifamily Group, a division of Block Real Estate Services, will manage the property.
GARLAND, TEXAS — Westmount Realty Capital has purchased a 341,840-square-foot manufacturing distribution facility in Garland. The distribution facility is fully leased to Apex Tool Group, which recently signed a new 20-year net lease. Apex Tool Group builds hand, power and electric tools, most notably the Sears Craftman brand. Other brands include Crescent, Armstrong, Allen and Kobalt. Apex is owned by a joint venture between Danaher Corp. and Cooper Industries. Westmount will invest approximately $1.5 million in interior and exterior building improvements, including new finishes throughout. Lee and Associates represented the seller in the transaction. Additionally, NorthMarq Capital arranged acquisition financing.
AUSTIN, TEXAS — ARA has secured the sale of the 309-unit Avanti Hills, an apartment community formerly known as Alexan Galleria, located at 12601 Bee Cave Parkway in Austin. The property is 96 percent occupied and features two resort-style swimming pools, remote-control limited entry gates, a fitness center and landscaping. Patton Jones of ARA's Austin office represented the seller, an undisclosed Fortune 500 bank, in the transaction. The buyer was an undisclosed private investor based in Austin.