RICHARDSON — CapLease Inc. has purchased a 318,000-square-foot office complex in Richardson for $46 million. The two-building, Class A office complex includes tenants such as an AT&T affiliate and MetroPCS Wireless. CapLease is expecting to receive a $20 million first mortgage loan with a 10-year term for the acquisition.
SOUTHLAKE — Cadence McShane Construction Co. has been awarded an expansion/renovation assignment for White's Chapel United Methodist Church, located at 185 S. White's Chapel Blvd. in Southlake. The project includes a two-story, 18,936-square-foot addition, renovation of the church's meeting space, landscaping and expanding the parking lot. Jacobs & Associates is providing architectural services for the assignment, which is slated for a December completion.
DALLAS — Marcus & Millichap has arranged the sale of the 85-unit Lakewood Club, an apartment community located at 200 N. Henderson Ave. in Dallas. Stephen Crittenden, Michael Ware and Will Jarnagin of Marcus & Milliichap's Dallas office represented the seller, an out-of-state private investor, in the transaction. Raymond Choi and John Bainer of Marcus & Millichap's San Diego, Calif., office procured the buyer, a California-based private investor in a 1031 exchange.
HOUSTON — Marriott International has opened a 120-suite Residence Inn, located at 1550 Barker Cypress Road in Houston. Dallas-based Texas Western Hospitality owns and manages the hotel, which goes by the name Residence Inn Houston I-10 West. The hotel features an outdoor swimming pool, a lobby area with HD TVs, a fitness center, breakfast buffet, outdoor fire pit, weeknight social hour and a complimentary business center.
SPRING — Fuddruckers has opened a 3,700-square-foot restaurant, located at 7724 Louetta Road in Spring. Fuddruckers now has 54 stores in Texas. Luby's Inc. is operating the new restaurant, which will feature a produce bar and the Coca-Cola Freestyle system.
BEDFORD — SkyWalker Property Partners has purchased a 70,938-square-foot office building, located at 3301 W. Airport Freeway in Bedford. The property is 57 percent occupied and is in a construction zone. SkyWalker was self-represented by Gary Walker and Shane Benner in the transaction. Tom Strohbehn of Grubb & Ellis represented the seller, a California-based family trust. Renee Efimoff and Justin McCarthy of SCM Real Estate Services will handle leasing responsibilities for the property.
DRIPPING SPRINGS — Marcus & Millichap has arranged the sale of the 11,344-square-foot Prosperity Bank building, located at 721 W. Highway 290 in Dripping Springs. Greg Gaynor of Marcus & Millichap's Austin office and Ron Hebert of the firm's Dallas office represented the seller, a REIT, in the transaction.
HOUSTON — Chartway Federal Credit Union has purchased the former Washington Mutual Bank building, a 3,685-square-foot property located at 4373 FM 1960 Road W in Houston. Marshall Clinkscales of Colliers International represented the buyer in the transaction. Peter Licata of Hunington Properties represented the seller, Forest Chase 4373 FM 1960 LLC.
HOUSTON — Sonesta International Hotels Corp. will rebrand the 485-room former Intercontinental Hotel Houston as The Royal Sonesta Hotel Houston, a Four Diamond, 23-story property located in Houston's Galleria area. The hotel offers 50,000 square feet of meeting space, restaurants, a swimming pool and a 24-hour health club. The hotel is slated to come under Sonesta's management in July.
DALLAS — HFF has secured a $22.7 million loan for the 296,360-square-foot 10000 NCX, a Class A office building located along Interstate 75 between Walnut Hill Lane and Royal Lane in Dallas. Travis Anderson of HFF arranged the three-year loan with a one-year extension through GE Capital Real Estate on behalf of the borrower, a joint venture between CREA Investments and Five Mile Capital Partners. The borrower is planning on using the loan to renovate the restrooms, make improvements to the corridor, update the lobby and add a fitness center.