HOUSTON — Exel has leased 191,537 square feet of industrial space at 8705 City Park Loop in Houston. Edward Bane of Houston-based Holt Lunsford Commercial represented the landlord, TA Associates Realty, and Sam Brown of Sam H. Brown, Inc., represented the tenant.
DALLAS — Hutton Communications has renewed its lease for 76,220 square feet of industrial space at 2007 Royal Ln. in Dallas. Ken Wesson and Adam Graham of Lee & Associates' Dallas/Fort Worth office represented the landlord, Cabot Properties and Roy Reis of Mohr Partners represented the tenant.
HOUSTON — O'Connor Capital Partners and Wafra Investment Advisory Group have developed a fund to acquire the 278,209-square-foot Baybrook Village, an open-air center in Houston. The development is anchored by Sports Authority, Ross Dress for Less and Toys R' Us. Other tenants include PetSmart, ULTA, Jos. A. Bank and JoAnn Fabric & Crafts. Blue Gate Partners represented the seller, a family advised by New York City-based Conventry Real Estate Advisors.
HOUSTON — Hoar Construction has commenced construction on the 120,000-square-foot CityCentre Three, a mixed-use property slated to be six stories, located in CityCentre in Houston. Midway Cos. is still developing the property, which was designed by by Munoz & Albin with Kirksey Architects to achieve LEED Silver certification. The exterior will have a courtyard featuring fountains and landscaped seating areas. Construction for the property is expecting to last 12 months.
MURPHY — Love Funding has closed a $9.22 million construction loan for the 75,510-square-foot Orchard Park of Murphy, an assisted living center under development in Murphy. Joshua Hausfeld of Love Funding secured the loan with a a 40-year term through the U.S. Department of Housing and Urban Development (HUD) on behalf of the owners, McFarlin Group and Caddis Partners. The 84-bed community is slated to open in mid-2012.
DUNCANVILLE — W & B Service Co. has acquired 15 acres of land, located at 1200 N. Main St. in Duncanville, to build a 38,000-square-foot facility. W & B received a $200,000 incentive from the Duncanville Community Economic Development Corp. to construct the facility. Monte Anderson of Options Real Estate represented the buyer, while the seller was self-represented.
AUSTIN — Regency Centers has purchased the 187,529-square-foot Tech Ridge Center, located at the intersection of Interstate 35 and Parmer Lane in Austin. Tech Ridge is anchored by an 84,352-square-foot H-E-B and is 93 percent occupied by tenants including Office Depot, PETCO, Subway and Massage Envy. The property also includes a pad site that can accommodate 30,000 square feet of retail space. George Cushing of Jones Lang LaSalle's Houston office represented the seller in the transaction.
HOUSTON — DRA Advisors has purchased 2323 Shepherd Place, a 119,576-square-foot office building in the River Oaks submarket of Houston. The 14-story property is 90.4 percent occupied by professional tenants. Ken Page of Grubb & Ellis represented the seller, Younan Properties, and the buyer was self-represented.
DALLAS — Marcus & Millichap has closed on the $1.8 million sale of a 130-room Econo Lodge, located at 1625 Regal Row in Dallas. Tyler Bean, Michael Yu and Rahul Bijlani of Marcus & Millichap's Houston office represented the seller, a bank, and the buyer, an individual trust.
WINDCREST — Mattress FIRM has executed a lease for a pad site within the approximately 200,000-square-foot Windsor Park Centre, located at the intersection of Interstate 35 and Walzem Road in Windcrest. Mattress FIRM plans to develop a 4,000-square-foot store on the parcel. Whitestone REIT, the landlord, was self-represented by Dan Nixon and Richard Vaughan, and Brian Lent of Highline Real Estate Group's Dallas office represented the tenant. Mattress FIRM is expecting to open for business in the summer of 2012.