HOUSTON — EastGroup Properties has acquired 133 acres of land for the expansion of its World Houston International Business Center, located at 15800 International Plaza Dr. in Houston, for $10 million. The site could potentially house 1.6 million square feet of industrial space.
HURST — Carroll Family Investment has purchased 59,000 square feet of land, located at Precinct Line Road and Airport Freeway in Hurst. Lester Day of Transwestern represented the seller, the Morash Family. The buyer intends to develop the site for a Mexican Inn restaurant.
LA PORTE — The Carson Companies has broken ground on the 276,320-square-foot Sens Road Distribution Center, located on Highway 225 in La Porte. The building is 75 percent preleased to Houston-based Canal Warehousing. Cadence McShane is the general contractor for the project and Architect's Plus is the architect. The project is slated for a first quarter 2012 completion.
SAN ANTONIO — KAI Texas has been selected as the architect for renovations and additions to Sam Houston High School in the San Antonio Independent School District. The school will receive a total of $16.9 million of major renovations funded by a $515 million bond that voters passed in November 2010. Improvements to the school will include creating collaborative learning environments throughout the campus, updating fire, emergency, security, lighting and alarm systems, creating teaching spaces for new educational programs and creating design space. The project is in the planning phase and is slated for a late 2014 completion.
HOUSTON — Polytex Fibers Corp. has renewed a 102,001-square-foot industrial lease at 9550 W. Wingfoot in Houston. Edward Bane of Holt Lunsford Commercial's Houston office represented the landlord, TA Associates Realty. Rand Stephens of Avison Young's Houston office represented the tenant.
FORT WORTH — Hillwood Communities has purchased 52 acres of commercial and residential land at the northeast corner of FM 1709 and Beach Street. Hillwood is planning to begin construction later this year to improve Beach Street and to add a four-lane road to connect Keller Hicks Road and FM1709. Ken Reimer and David Davidson, Jr., of Venture Commercial Real Estate's Dallas office represented both Hillwood and the seller, Realty Capital Golden Beach, in the transaction. Venture will continue to handle leasing for a future retail development on the parcel.
While the San Antonio area has not been immune to the effects of the economic slowdown, the city’s location, business-friendly atmosphere, strong labor force and low cost of living continue to create a thriving environment for warehousing, logistics and manufacturing companies. One of those companies, Caterpillar Inc., recently completed the construction on the 260,000-square-foot first phase of its manufacturing facility in Schertz that will supply components to the company’s assembly plant in nearby Seguin. Also in Schertz, Sysco Corporation is close to completing a 635,000-square-foot distribution facility in an effort to consolidate and expand its operations in Central Texas. These and other new additions continue to make local headlines, but what really had the industrial market buzzing during most of the first half of 2011 was the activity generated by the Eagle Ford Shale oil and gas play. As with many south and central Texas markets, industrial activity in San Antonio’s MSA has been positively affected by the Eagle Ford Shale, a 24-county oil and gas play stretching from the Texas-Mexico border to well east of San Antonio. With its central location along the northern edge of the Eagle Ford Shale, San Antonio has attracted the attention of major energy …
EDINBURG — Monmouth Real Estate Investment Corp. has purchased a 113,871-square-foot industrial building, located at 502 W. Independence Dr. in Edinburg, for $8 million. The property is net-leased to FedEx for 10 years. The building sits on 13.1 acres and was constructed by Kansas City, Mo.-based Jones Development Co. No brokers were involved in the transaction.
FRIENDSWOOD — Texas Gulf Bank has broken ground on a new 4,665-square-foot branch, located at 1005 Friendswood Dr. in Friendswood. The new facility is slated for an early 2012 delivery. Eric Batte and Scott Clanton of McCleary German Architects designed the new facility, and Construction Masters of Houston are in charge of construction. The branch will feature a four-lane motor bank and an outside ATM.
ROANOKE — Holliday Fenoglio Fowler (HFF) has arranged refinancing for the 198,000-square-foot United Supermarkets Distribution Center, located at 200 Freedom Dr. in Roanoke. Mark West and Brandon Chavoya of HFF's Dallas office arranged the financing through Bank of America Merrill Lynch on behalf of the borrower, United Supermarkets. Proceeds of the loan will refinance a construction loan.