Texas

THE JOULE HOTEL BEGINS $78M RENOVATION/EXPANSION

by admin November 22, 2011

DALLAS — The Joule, a luxury hotel located at 1530 Main St. in downtown Dallas, has started a $78 million renovation and expansion. The hotel upgrades will include addition of 31 guest rooms (including two three-story penthouses), a new 8,000-square-foot spa, a 600-square-foot screening room, a 1,350-square-foot recording studio, a second Charlie Palmer restaurant and expanded event spaces. Interior designer Adam Tihany is designing the interior upgrades. Construction is slated for a fall 2012 completion, and the hotel will remain open throughout the renovation.

November 22, 2011

HFF ARRANGES SALE OF 143,410 SF OFFICE BUILDING IN SUGAR LAND

by admin November 22, 2011

SUGAR LAND — HFF has brokered the sale of the 143,410-square-foot Two Sugar Creek Center, a six-story office building located at 77 Sugar Creek Center Blvd. in Austin. The property is 72 percent occupied. Dan Miller, Trent Agnew and Brad Elmore of HFF's Houston office represented the seller's asset manager, National Asset Services, in the transaction. The buyer is a private Boston-based firm.

November 22, 2011

Retail Texas

MARCUS & MILLICHAP BROKERS SALE OF FORT WORTH WALGREENS

by admin November 22, 2011

FORT WORTH — Marcus & Millichap has arranged the sale of a 13,807-square-foot Walgreens, located at 6328 Camp Bowie Blvd. in Fort Worth. Vincent Knipp, Chance Hales and Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, a personal trust, in the transaction. Knipp and Hales also procured the buyer, a partnership.

November 22, 2011

Texas

HENRY S. MILLER BROKERS 114-ACRE INVESTMENT PROPERTY SALE

by admin November 22, 2011

VALLEY VIEW — Local investor Megma has purchased a 114-acre land tract from John Porter Farms. Grant Brodeur of Henry S. Miller Brokerage's Dallas-Fort Worth office represented the buyer in the transaction, and Everette Newland of Denton-based Everette Newland Real Estate represented the seller.

November 22, 2011

Retail Texas

150,000 SQUARE FOOT BASS PRO SHOP OPENS IN HARLINGEN

by admin November 21, 2011

HARLINGEN — Bass Pro Shops Outdoor World has opened a 150,000-square-foot store at Cameron Crossing, a retail development located at U.S. Highway 83 and Ohio in Harlingen. The Harlingen Economic Development Corp. owns the property and leased it to Bass Pro Shops. In addition to the new development, a new street and railroad crossing have been delivered. The railroad crossing is powered by solar panels, making it the first “green” railroad crossing in Texas.

November 21, 2011

Multifamily Texas

WATERTON RESIDENTIAL ACQUIRES FOX HILL APTS. IN AUSTIN

by admin November 21, 2011

AUSTIN — Chicago-based Waterton Residential has acquired the 288-unit Fox Hill Apartments, a Class A multifamily community located at 8800 Hwy. 290 W. in Austin. Waterton purchased the property through its $500 million investment fund, Waterton Residential Property Venture XI. The apartment community features a fitness center, clubhouse, swimming pool with a sundeck, business center, laundry facility, covered parking, detached garages, children's playground and dog park. Waterton was self-represented by Matt Masinter. HFF represented the seller, Houston-based Magill Development, which was also the original developer.

November 21, 2011

Industrial Texas

BINSWANGER ARRANGES ACQUISITION OF MANUFACTURING FACILITY

by admin November 21, 2011

MCKINNEY — Binswanger has brokered the sale of a 70,200-square-foot manufacturing facility, located at 1720 Bray Central Dr. in McKinney. The property features a 1,000-square-foot office, air-conditioned tech rooms and 22-foot ceiling heights. Holmes Davis and Alexis Lambeth of Binswanger's Dallas office represented the buyer, Segars McKinney, in the transaction. Eric Deuillet and Bob Kent of Dallas-based Structure Commercial represented the seller, JPMorgan Chase.

November 21, 2011

Office Texas

LNR PARTNERS SELLS OFFICE BUILDING IN MCALLEN

by admin November 21, 2011

MCALLEN — LNR Partners has sold a 24,708-square-foot office building, located in the Executive Business Center at 801 E. Fern Ave. in McAllen. Rob Chandler of Houston-based Moody Rambin Investment Services represented the seller in the transaction.

November 21, 2011

Retail Texas

M&M BROKERS SALE OF RETAIL PROPERTY IN GRANBURY

by admin November 21, 2011

GRANBURY — Marcus & Millichap has arranged the sale of a 13,514-square-foot retail property, located at 3400 East Hwy. 377 in Granbury, which is currently leased to Dollar General and Fastenal. Philip Levy of Marcus & Millichap's Fort Worth office represented the seller, a developer, in the transaction and secured the buyer, a limited liability company.

November 21, 2011

Seniors Housing Texas

MIXED-USE SENIOR CENTER IN MISSOURI CITY NOW OPEN

by admin November 18, 2011

MISSOURI CITY — Oyster Creek Manor, a new mixed-use development for senior citizens in Missouri City, has opened for business. The property features an Alzheimer's unit, beauty salon, 24-hour nursing staff and a restaurant. A partnership between Houston-based Wallace Bajjali Development Partners and Atlanta-based Outer Marker Properties developed the property and is operating the facility. The facility is located at Hampton Drive and Murphy Road in the Hampton Pointe master-planned community in Missouri City. Westbury, N.Y.-based The Kalikow Group's affiliate, KEP Hampton ALF LLC, owns the property.

November 18, 2011

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