TEXAS AND OKLAHOMA — Conn's, a Dallas-based specialty electronics, appliance and furniture retailer, has plans to close five stores, located in Dallas (two), Houston, San Antonio and Edmond, Okla. After the closings, Conn's will have 64 total stores.
GRAND PRAIRIE — Bradford Commercial Real Estate Services has arranged a lease of a 92,500-square-foot industrial building, located at 1170-80 109th St. in Grand Prairie. Michael Spain of Bradford's Grand Prairie office and Jim Ferris of the firm's Dallas office represented the landlord, GP 1170 LLC, in the lease transaction. Lissa Cooke of Dallas-based Cooke Swaney & Cooke represented the tenant, NW Sign Industries.
DALLAS — NorthMarq Capital's Dallas office has arranged $136.36 million in permanent financing for the Diamond Student Housing Portfolio, a 1,852-unit collection of student housing properties near major university campuses in Texas Georgia, Alabama, Mississippi and Kansas. Stephen Whitehead of NorthMarq's Dallas office arranged the 5-year loan thorough Freddie Mac on behalf of the borrower, Diamond Realty Investments and Real Estate Capital Partners.
HOUSTON — McShane Healthcare Solutions has plans to develop a new 35,240-square-foot sports medicine and training facility, located in the Houston Amateur Sports Park at 12211 Kirby Dr. in Houston. The new facility will be built on behalf of Competitive Edge Sports (CES) and will include the Methodist Center for Sports Medicine and the new CES Performance facility. The Houston Dynamo, a Major League Soccer (MLS) team, plans to use the 5,125 square feet of the facility for training. The Methodist Center will be approximately 7,000 square feet and house the physicians for the Houston Texans, Houston Astros and Houston Dynamo. CES will lease 18,505 square feet of the facility. Houston-based Seeberger Architecture will provide architectural services and Cadence McShane Construction Co. will provide design/build construction services for the facility, which is slated for completion in July 2012.
HOUSTON — Noble Energy has signed a long-term lease to fully occupy a 497,000-square-foot office building, located at 20555 State Hwy. 249 in Houston. Noble Energy will consolidate its other Houston locations into the new building. The building is undergoing capital improvements to achieve LEED and Energy Star designations, and Kirksey Architecture is designing the renovations. Jim Arket and Mona Williams of Grubb & Ellis' Houston office represented the tenant in the lease transaction. A joint venture between Trammell Crow Co. and Principal Real Estate Investors own the building.
MIDLAND — Gordon Cornerstone Partners, an entity of Houston-based Gordon Partners, has purchased the 100,000-square-foot Cornerstone Shopping Center, located at the corner of Loop 250 and Midland Drive in Midland, from KB Cornerstone Group. The property is 92 percent leased to tenants including Gold's Gym, AT&T, Pizza Hut, One Main Financial, My Community Credit Union and Chito's Mexican Restaurant. The buyer was self-represented by Scott Gordon and Matthew Gordon.
AUSTIN — HFF has secured $5.1 million in first lien financing to refinance the 34,051-square-foot Southcross Plaza, a retail center located at 3601 W. William Cannon Dr. in Austin. The property features tenants such as State Farm Insurance, Thundercloud Subs and Texas State Optical. Travis Anderson of HFF's Dallas office led the team to arrange the 5-year loan through First National Bank & Trust of McAlester on behalf of the borrower, Cencor Realty Services.
TEXAS — Arbor Commercial Funding has secured $46.5 million in Fannie Mae loans through the Fannie Mae DUS Loan, Fannie Mae DUS Multifamily Affordable Housing and Fannie Mae DUS ARM 7-6 programs for six multifamily developments in Texas. These deals include $16.97 million in a 10-year loan for the 312-unit Red Oak Town Village Apartments in Red Oak; $8.01 million in a 10-year loan for the 228-unit South Lake Villas Apartments in Houston; $8 million in a 7-year loan for the 288-unit Madera Brookside complex in Arlington; $7.83 million in a 10-year loan for the 325-unit Anderson Springs Apartments in Austin; $3.5 million in a 7-year loan for the 100-unit Broadmoor Villa Apartments in Irving; and $2.19 million in a 10-year loan for the 72-unit Creekside Estates in Lufkin. Jay Porterfield of Arbor's Plano office originated the loans, all of which had a 30-year amortization schedule.
COLLEGE STATION AND LAREDO — CBL & Associates has plans for multi-million renovations of the 775,000-square-foot Post Oak Mall, located at 1500 Harvey Rd. in College Station, and Mall del Norte, 5300 San Dario Ave. in Laredo. Post Oak Mall will receive new flooring, upgraded entrances, soft seating, new food court design and updated lighting. Mall del Norte will receive upgrades that were started in 2007.
MIDLAND — Marcus & Millichap has secured the sale of a 68-room Comfort Inn, located at 902 Interstate 20 W. in Midland, for $5.3 million. Tyler Bean, Michael Yu and Rahul Bijlani of Marcus & Millichap's Houston office represented the seller, a limited liability company, in the transaction.