Texas

PLANO DATA SIGNS 116,376 SF LEASE EXPANSION

by admin March 14, 2012

PLANO — Plano Data has expanded its lease by 16,386 square feet for a total 116,376 square feet of office space at Plano Business Park, a 283,559-square-foot office complex located at the intersection of Shiloh Road and Plano Parkway in Plano. Other tenants in the complex include ND SatCom and Enterprise Mobile. George Tanghongs and Brett Lewis of Lee & Associates' Dallas office represented the tenant in the lease transaction. Alan Clark and Paul Tichacek of JSC Realty Services' Dallas office represented the landlord, KBS REIT II.

March 14, 2012

ARC TO ACQUIRE SHOPPING CENTER FOR $22.2M

by admin March 13, 2012

ROWLETT — American Realty Capital — Retail Centers of America has entered into an agreement to purchase the 105,861-square-foot Liberty Crossing Shopping Center, located in Rowlett, for $22.2 million, excluding closing costs. The property is 95 percent leased to 16 tenants, which include Ross Dress for Less, PetSmart and Dollar Tree. In addition, the buyer recently broke escrow and issued shares of common stock to American Realty Capital IV, its sponsor, which purchased $2 million of the company's stock.

March 13, 2012

Healthcare Texas

STROUD TO DEVELOP $12M ASSISTED LIVING FACILITY

by admin March 13, 2012

CARROLLTON — Dallas-based Stroud Properties has plans to develop a neighborhood of seven 8,500-square-foot assisted living residences, located on a 7.5-acre site near the intersection of East Hebron Parkway and Josey Lane in Carrollton. The $12 million project will serve a total of 64 assisted living residents and 48 Alzheimer's and dementia care residents. Each residence in the community will feature 16 bedrooms with private bathrooms, a salon and an enclosed backyard with walking paths and fountains.

March 13, 2012

Hospitality Texas

VALENCIA GROUP BREAKS GROUND ON RETRO HOTEL

by admin March 13, 2012

AUSTIN — Houston-based Valencia Group has broken ground on the 123-room Lone Star Court, an Americana roadside hotel located at the Domain in Austin. The Domain is a mixed-use development that will span approximately 8 million square feet upon completion. The hotel will mix nostalgia and high-tech concepts with amenities such as an outdoor fire pit, a dipping pool reminiscent of swimming holes in Texas' Hill Country, a 1,800-square-foot open air lawn, a 1,600-square-foot outdoor pavilion, 2,000 square feet of interior meeting space, a restaurant and a bar. The new hotel is a throwback to the heyday of the roadside motor court experience. Jim Suggs of Dallas-based RTKL Associates is the lead architect, Lauren Rottet of Houston-based Rottet Studio is the lead designer and Christine Ten Eyck of Austin-based Ten Eyck Landscape Architects is the landscape architect. The hotel is slated for an early 2013 opening.

March 13, 2012

Retail Texas

H MART TO ANCHOR PARKER TOWNE CENTRE

by admin March 13, 2012

PLANO — H Mart has leased 72,267 square feet of anchor space at Parker Towne Centre, a community shopping center located at 3220 K Ave. in Plano. The shopping center will be rebranded as the Super H Mart Towne Centre. Sungju Choi of Carrollton-based Dallas Realty represented the tenant in the lease transaction. The landlord, Dallas/Fort Worth-based Retail Plazas, was self-represented by Cory McCord and Earl Harris of The Weitzman Group's Dallas office.

March 13, 2012

Restaurant Texas

RAZZOO'S CAJUN CAFE NOW OPEN IN GARLAND

by admin March 13, 2012

GARLAND — Addison-based Razzoo's has opened a new 6,500-square-foot Razzoo's Cajun Cafe at the Firewheel Town Center, an open-air shopping center located on the northeast corner of the President George Bush Turnpike and Highway 78 North in Garland that features anchors Macy's, Dillard's and an AMC Movie Theatre. The restaurant is the company's 14th location in Texas. Dallas-based Zero 3 designed the restaurant while Lewisville-based Strong Group served as the contractor. Brian Glaser of The Weitzman Group's Dallas/Fort Worth office represented the tenant in the lease transaction.

March 13, 2012

Multifamily Texas

M&M BROKERS APT. COMPLEX SALE

by admin March 12, 2012

DALLAS — Marcus & Millichap has arranged the sale of the 506-unit Trinity Palms, a 411,884-square-foot apartment complex located at 9690 Forest Lane in Dallas. The complex consists of 64 buildings and has amenities that include a fitness center, swimming pools, a clubhouse and an after-school program area. Al Silva of Marcus & Millichap's Fort Worth office represented the seller, an El Paso-based partnership, and procured the buyer, a private investor based in Texas.

March 12, 2012

Office Texas

LAW OFFICE EXPANDS TO HISTORICAL RICHMOND

by admin March 12, 2012

RICHMOND — The law office of Steven Rocket Rosen has purchased the 6,000-square-foot Morton Street Gallery, a 6,000-square-foot gallery located at 214 Morton St. in Old Town Richmond. The gallery will be repositioned into an office building. Tawnya Dornak of Sugar Land-based ICO Commercial represented the buyer in the transaction. Diana Powers of Richmond-based RE/MAX Plantation represented the undisclosed seller.

March 12, 2012

Office Texas

NEW VICTORY PARK OFFICE TOWER GETS GREEN DESIGN

by admin March 12, 2012

DALLAS — BOKA Powell has created a new design for the 400,000-square-foot Victory Park office tower, a Class A building under construction in the Victory Park mixed-use development in downtown Dallas. BOKA Powell is teaming with KDC for the construction of the 23-story tower, which includes eight stories of parking. The design features 10-foot ceiling heights, high efficiency mechanical and electrical systems, LED lighting systems and an elevator control system that reduces the number of hoistway openings. Construction is expected to begin this fall and is slated for a late 2014 completion. BOKA Powell is working with potential tenants on office layouts and is pursuing LEED certification.

March 12, 2012

Retail Texas

MACE SECURITY SELLS CAR WASH FOR $2.1M

by admin March 9, 2012

ARLINGTON — Mace Security International has disposed of a car wash facility, located in Arlington, for $2.1 million. Mace Security netted approximately $1.57 million after closing costs and paying off the related mortgage debt of $512,000. Mace now owns one car wash facility and leases one in Texas, which the company is seeking to dispose in keeping with its strategic departure from the car wash business.

March 9, 2012

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