EL PASO, TEXAS — CBRE El Paso has brokered a 72,000-square-foot lease renewal at 1450 Pullman Drive in El Paso. Anthony Mash of CBRE El Paso represented the tenant, Robert Bosch LLC, in the transaction. William Caparis, also of CBRE El Paso, represented the landlord, IndCor Properties.
HOUSTON — Denver-based Simpson Housing Novare Group, Batson-Cook Development Co. and Houston-based developer Peter W. Dienna have closed on the land purchase and financing for SkyHouse Houston, a luxury high-rise apartment community. The 24-story, 336-unit community will take up an entire city block at 1625 Main St. in Houston's Central Business District. JPMorgan Chase Bank is providing construction financing, and Simpson Housing, NGI Investments and Batson-Cook are providing equity. Robert LaChappelle, Jonathan Rice and Paul Berry of CBRE arranged the financing. David Cook and Jeff Peden of Cushman & Wakefield brokered the land sale. The City of Houston awarded the project a $15,000-per-bed tax abatement. The construction of the high-rise will bring about 500 jobs to the area. The building is expected to be Energy Star-rated and will feature views, high-end finishes and a “SkyHouse” on the top floor, which will include a fitness center, pool, grilling area and clubroom. Smallwood, Reynolds, Stewart, Stewart will provide architectural services for the project.
AUSTIN, TEXAS — CBRE has arranged the sale of the 50,132-square-foot West End Center, a mixed-use retail and office project located at 1214 W. 6th St. in Austin. The two-story development is 94 percent leased to Julian Gold, ArtWorks Gallery and House + Earth. Walter Saad and Cathy Nabours of CBRE's Private Capital Group, along with Eric DeJernett and Bryan McMurrey of the firm's Retail Service Group, represented the seller, Whit Hanks Properties, in the transaction. AWS Village Inc. purchased West End Center, which will be renamed West Side Village. Dallas-based Cheng Investments will handle the property's leasing and CBRE will handle property management.
ARLINGTON, TEXAS — Skyline DFW Exhibits & Events has subleased 47,675 square feet of industrial space for the duration of Western-BRW Paper Co. Inc.'s term. The industrial space is located in the Arlington Corporate Center III, located at 3709 E. Randol Mill Road in Arlington. ProLogis developed the industrial building in 2001. Jim Ferris of Dallas-based Bradford Commercial Real Estate Services represented the landlord in the lease transaction. Jim Hazard, Brad Struck and Bill de la Chappelle of Transwestern Dallas represented the sublessor.
THE WOODLANDS, TEXAS — First Victoria National Bank has purchased a 1.24-acre site in the future Creekside Park Village Center in The Woodlands. The new bank branch will be located at the northeast corner of Creekside Forest Drive and Kuykendahl Road in The Woodlands. The bank will feature two drive thru lanes, a deposit-enabled ATM, two conference centers with video phones and a V-Souce Center, a club-style business center with fax machines, copiers, computers and WiFi. Construction is slated to begin in early 2014. Felix Zamilkovsky of New Regional Planning represented First Victoria National Bank in the land sale. Todd Edmonds of Colliers International represented the seller, The Woodlands Development Co., a subsidiary of The Howard Hughes Corp.
LEWISVILLE, TEXAS — NorthMarq Capital has secured construction financing for Phase II of Crest Manor, a 288-unit multifamily community located at 940 W. Round Grove Road in Lewisville. Paul Brighton of NorthMarq arranged the financing through a national bank on behalf of the borrower, a developer. Phase II will complete the multifamily component of Crest Manor.
AUSTIN, TEXAS — An affiliate of Hyatt Hotels Corp. has acquired the 189-room Driskill Hotel in Austin for $85 million from an investment fund managed by Lowe Enterprises Investors. The hotel will keep its name but be managed under the Hyatt Hotels & Resorts umbrella. The buyer will also invest approximately $8 million for renovations to the hotel. The Driskill Hotel was built in 1886 and was designated a national historic landmark in 1969. Jones Lang LaSalle's Hotels & Hospitality Group represented the seller in the transaction.
SAN ANTONIO — Woodbine Development Corp. will manage the development of the Kimpton Hotel, a 146-room luxury boutique hotel that will be located in downtown San Antonio. The hotel will be part of Pearl, a 22-acre mixed-use development surrounding the historic Pearl Brewery site. The hotel will occupy the former brewhouse, a 119-year-old structure. The hotel will feature two restaurants, a roof-top pool, venue space facing the river and a cocktail bar. New York City-based Roman & Williams Buildings and Interiors is part of the design team, along with Dallas-based three: living architecture, the architect of record. Kimpton Hotels & Restaurants will operate the hotel and its associated restaurants. The hotel is slated for a fall 2014 opening.
FORT WORTH, TEXAS — Dallas-based Inland American Communities, a subsidiary of Inland American Real Estate Trust Inc., has purchased The VUE, a 118-bed, mixed-use student housing property located on the campus of Texas Christian University (TCU) in Fort Worth. The property opened in August 2012 at full occupancy. The four-story mid-rise community features 6,000 square feet of retail space currently under construction. The retailers are expected to open this spring. CBRE's National Student Housing Group assisted in the transaction. The VUE will be rebranded as a University House community.
VICTORIA, TEXAS — Marcus & Millichap has arranged the sale of the 82-room Candlewood Suites Victoria, located at 7103 Navarro St. in Victoria. The hotel is located in the Eagle Ford Shale play, the largest oil/gas find in the history of Texas. Michael Yu, Rahul Bijlani and Eric Guerrero of Marcus & Millichap's National Hospitality Group in Houston represented the seller, a hotel developer based in southeast Texas. The buyer, a West Coast-based hotel investor, purchased the property at 98 percent of its list price.