SAN ANTONIO — Colonnade Centre, a multi-tenant Class A office building in San Antonio has earned a LEED-EB Gold certification from the U.S. Green Building Council. The office property is managed by USAA Real Estate Co. and includes tenants such as MasterCard International and First Fidelity.
DALLAS — Behringer Harvard has acquired Allegro, a 272-unit luxury multifamily community in Addison Circle, a 70-acre mixed-use development in Dallas. Behringer Harvard also acquired a 1.2-acre parcel of land adjacent to Allegro. The luxury multifamily community was completed in 2008 on a 4.6-acre site at 15750 Spectrum Dr. This acquisition brings the portfolio of Behringer Harvard Multifamily REIT I to 32 multifamily communities in 12 states, totaling 9,004 apartment homes.
THE WOODLANDS — Houston-based Baker Katz has acquired the former Hollywood Video building at Grogan's Mill and Sawdust in The Woodlands. Baker Katz plans to renovate and expand the 7,500-square-foot building, and subdivide it and re-lease the spaces to individual tenants. Cathie Mann of Vista represented the seller, while Baker Katz was represented in house.
BEAUMONT — The Houston office of Holliday Fenoglio Fowler (HFF) has arranged acquisition financing for West End Lodge, a 360-unit Class A multifamily community in Beaumont. Cortney Cole of HFF worked on behalf of Venterra Realty to secure a 10-year fixed-rate loan with Freddie Mac. West End Lodge is located at 4215 N. Major Dr. and was completed in 2007. It is 93 percent occupied and has an average unit size of 805 square feet.
BORDEN COUNTY — Houston-based Eagle Ford Oil & Gas Corp. has signed a letter of intent for the acquisition of a 25 percent non-operated working interest in a 5,990-acre lease position in Borden County with plans to drill two wells to test the productivity of the producing zones in the first quarter of 2011. The property has two oil producing formations: the Mississippian Fractured Carbonates and the Wolfberry Formation. The acreage position will support 37 additional locations.
BEAUMONT, SAN ANTONIO AND WACO — Three office buildings, each 100 percent leased to the United States government for use as social security administration facilities, have sold in Texas. Located in Beaumont, San Antonio and Waco, the closed transactions totaled approximately $15 million after an undisclosed buyer assigned the contracts to a real estate investment trust familiar with government-leased property. The Silver Group of Northern California brokered the deals.
GREENVILLE — Dallas-based Langford Property Co. has purchased a 300,000-square-foot distribution facility on 95 acres in Greenville for an undisclosed price. Located at 1001 Ed Rutherford Dr., north of Interstate 30 and west of State Highway 69, the facility is home to tenants that include Rubbermaid, Atrium Door, Rock Tenn Corp. and Lance Foods. New York-based W.P. Carey sold the property to Langford, which has plans to develop or sell the vacant land.
HOUSTON — Park on the Bayou, a 159,563-square-foot office property, has sold. Located at 2500 East T.C. Jester Blvd. in Houston, the five-story building was most recently leased to the Federal Bureau of Investigation (FBI) for more than 16 years. However, it is 100 percent vacant today. ING Clarion Partners, represented by Rusty Tamlyn and Trent Agnew of Holliday Fenoglio Fowler, sold it to Boxer Management Corp. for an undisclosed price.
FORT WORTH — Cook Children's Health Care System has purchased a 2,100-square-foot professional building located at 1129 6th Ave. in Fort Worth, a building that had been leased by Cook for the past 10 years. Functioning as a medical office building for Cook pediatricians, the building sits on a 5,000-square-foot parcel of land.
HOUSTON —Best Saving Supermarket has signed a 42,205-square-foot lease at Lion Square Center, an Asian community center located in Houston's International Management district. Dan Nixon and Rafael Melara represented Whitestone REIT (NYSE: WSR) as the landlord, while Kenneth Li represented Best Saving Supermarket in the lease transaction. Whitestone plans to transform Lion Square Center to an upscale, Asian-themed community center that will include new architectural and landscaping features.