KINGWOOD — The Kingwood Diagnostic & Rehabilitation Center, a two-story, 40,733-square-foot medical office building located near Kingwood Medical Center has opened. Located at 22751 N. Professional Dr. in Kingwood, the $9 million project was developed through a joint venture between Rowland Cos. and Ensemble Real Estate Services on behalf of the owner, BRB/E Building One LLC. The building is more than 90 percent leased to 11 individual practices, nine of which are part of Diagnostic Affiliates of Northeast Houston.
OKLAHOMA CITY, OKLA. — Omaha, Neb.-based Haley Communities has purchased Stoneleigh on May Apartments, a 244-unit Class A complex, for $19.7 million. Located at 14300 N. May Ave., the property is situated in the Quail Springs area of Oklahoma City and features a fitness center, a clubhouse, a swimming pool and meeting areas. Andy Burnett and David Burnett of Sperry Van Ness/William T. Strange & Associates facilitated the sale. The transaction marks Oklahoma's largest multifamily transaction this year.
BROOKSHIRE — Room To Go has opened a 1 million-square-foot distribution and showcase facility along Interstate 10 in Brookshire, northwest of Houston. The 22.6-acre building was completed by Bob Moore Construction — its third project for Rooms To Go. Bob Moore Construction has also completed an 851,000-square-foot distribution center in Arlington for Rooms To Go as well as a 34,888-square-foot showroom in Fort Worth. MacGregor Associates Architects was the architect of record for the Brookshire project.
FLOWER MOUND — River Walk Medical Park I, a three-story, 84,000-square-foot medical office building, will break ground this month in The River Walk at Central Park development in Flower Mound. Expected to open in fall 2011, it will connect to the existing Texas Health Presbyterian Hospital on all three levels. River Walk Medical Park I will include a radiation and medical oncology center as well as the following specialties: urology, cardiology, general surgery, colorectal, orthopedics and OB/GYN.
HOUSTON, TEXAS — Alliance Residential Co. has acquired Gramercy Park Condominiums, a multifamily property located in the Texas Medical Center area of Houston. Alliance acquired the 224-unit project out of bankruptcy in a Section 363 auction sale. The community offers one-, two- and three-bedroom floorplans ranging in size from 781 to 1,529 square feet. The two-building, project, which was completed in 2006, will be renamed Broadstone Gramercy. Alliance also plans to complete construction on the unfinished northern building.
HOUSTON — Reliant Hospital Partners plans to construct a new healthcare facility in Houston. The $25 million project, which is known as Reliant Rehabilitation Hospital-Houston Northwest, will be located at the intersection of State Highway 249 and Chasewood Park Drive within the new Vintage Park development. The building will total approximately 65,000 square feet over three floors. It will contain 60 beds and will open in early 2012. Reliant is partnering with The Cirrus Group to develop the project.
IRVING — Marcus & Millichap has completed the sale of Chivas West, a lender-owned apartment property located in Irving. The community is situated at 1701 N. Britain Road. It contains 72 units in a mix of one- through three-bedroom residences. It was renovated this year and was 94 percent occupied at the time of the sale. Miachel Ware and Will Jarnagin of Marcus & Millichap's Dallas office represented the seller.. Nick Fluellen, also off Marcus & Millichap's Dallas office, represented the buyer, a private investor from Flower Mound.
FORT WORTH — Next week will see the opening of the new Crowne Plaza Fort Worth South. The hotel, which is located at the intersection of Interstate 35W and Altamesa East Boulevard in Fort Worth, was converted from the Radisson flag. It features 247 guest rooms, more than 14,000 square feet of meeting space, an indoor pool and jacuzzi, a fitness center, a restaurant and a lobby bar. It is owned by Chhatrala Hotel Group under a license agreement with InterContiniental Hotels Group. The operator is Shiva Management.
HOUSTON, TEXAS — Alliance Residential Co. has acquired Gramercy Park Condominiums, a multifamily property located in the Texas Medical Center area of Houston. Alliance acquired the 224-unit project out of bankruptcy in a Section 363 auction sale. The community offers one-, two- and three-bedroom floorplans ranging in size from 781 to 1,529 square feet. The two-building, project, which was completed in 2006, will be renamed Broadstone Gramercy. Alliance also plans to complete construction on the unfinished northern building.
DALLAS — Cumulus Media Inc. has leased 20,248 square feet of office space at Victory Park. The company four Dallas-Ft. Worth radio stations will be relocating to the property, which is owned by Victory Park UST Joint Venture I. Victory Park offers two five-story Class A office buildings totaling 185,000 square feet. Jeff Ellerman and Phil Puckett of CB Richard Ellis represented Cumulus; Bill Brokaw of Cousins Properties represented Victory Park UST Joint Venture I in the transaction. Terms of the lease were not released.