RICHARDSON — Tampa, Fla.-based Carter Validus Mission Critical REIT, Inc. has acquired a 20,000-square-foot data center for $28.9 million in Richardson. The property is 100 percent leased by a national health organization. The data center supports technology infrastructure equipment deployment on more than 10,000 square feet of 36-inch raised floor space. There are diverse feeds from two power substations what provide redundant power supporting 1.68 megawatt of critical load power, expandable to 2.25 megawatts.
SAN ANTONIO — Jackson, Miss.-based EastGroup Properties has begun the development of two new industrial buildings in San Antonio. Thousand Oaks I and II will be 109,000 square feet with a combined projected cost of $9.62 million. Thousand Oaks is scheduled to be complete in the first quarter of 2012. The company owns 1.2 million square feet in the north central submarket that is currently 97 percent leased.
DALLAS — Dallas-based Stream Realty has been awarded the exclusive management and leasing provider for DFW Distribution, a 498,800-square-foot distribution center, by Clarion Partners. The distribution center is in the Dallas Fort Worth International Airport submarket located at 171 West Airfield Drive. Cannon Green and Blake Kendrick of Stream Realty will lead the leasing efforts.
Industrial real estate activity is up in the El Paso/Juarez, Mexico metro area, indicating that the recession-driven slump, which had been intensified by reported violence on the border, has not deterred companies from making long-term commitments to the region. The increase in industrial leasing and sales, as well as improved employment statistics and increasing commercial truck crossing data are all positive signs for the future of the local industrial economy. The industrial market in El Paso and Juarez totals 115 million square feet split between two countries and is an intersection of international manufacturing firms, global supply chains and the local economy. During the past 3 years both the global recession and security situation in Mexico have reverberated across the industrial market. However, industrial leasing and sale activity is up on both sides of the border, with Juarez leading the way at 658,000 square feet of net absorption during the first 6 months of the year, and El Paso recording 264,000 square feet. However, El Paso was the first city to start the rebound in 2010 with almost 600,000 square feet of net industrial absorption in the second half of the year. Both markets have seen industrial vacancy levels recede …
TEXAS — Stamentis Family Trust has purchased a 71,800-square-foot office building at 1801 South Beach St. in Fort Worth. Todd Hubbard of NAI Robert Lynn and John Aldrich represented the seller, Secretariat. Maverick Stainless has leased 43,296 square feet of office/warehouse space located at 4525 Production in Dallas. NAI’s Robert Blankenship represented the landlord, Production Property Partners, in this transaction, and Jason Moser of Stream Realty represented the tenant. Altronic has leased 23,944 square feet of office/warehouse space at 2350 Crist Rd. on the Firewheel Commerce Center in Garland. NAI’s Stephen Cooper and Dave Peterson represented Dalfen America, the landlord, and Dan Spika of Henry S. Miller represented the tenant. Farrow Machine & Manufacturing has leased 16,400 square feet of office/warehouse space located at 419 Duncan Perry Rd. in Arlington. Michael Stanzel of NAI represented the landlord, A&R Management and Development, in the transaction. W.O.E. Construction Inc. has leased 15,000 square feet of office/warehouse space at 941 Avenue N in Grand Prairie. Stanzel represented the landlord, Cobalt Industrial REIT II, and Moore Matthews of RW Commercial represented the tenant. Classic Stone & Tile has leased 8,399 square feet of office/warehouse space at 2120 Hutton Dr. in Carrollton. John Lancaster and …
CROSSROADS — Stampede Equities has acquired a 14,710-square-foot retail strip center in Crossroads. Carter Kendall of Henry S. Miller Brokerage arranged the acquisition from previous owner Stillwater National Bank. The retail center is located along U.S. Highway 380 and is 90 percent occupied with tenants like Domino’s Pizza, Cornerstone Dental and January’s Salon.
HOUSTON — Nikooi Group has purchased a 2,144-square-foot retail center from Kapadia Group. The center is located at 9202 Airport Blvd. in Houston. Hossein represented Nikooi Group in-house and Clay Rabel of Colliers International represented Kapadia in the transaction.
FORT WORTH — Regus Group-North Dallas has renewed its lease of 19,764 square feet of office space at the Western Insurance Building in Fort Worth. Chris Wright and Noreen Mehdi of Grubb & Ellis Co. represented Bridgestone Realty, part of The Navika Group of Companies, in the transaction. Western Insurance Building is an 84,831-square-foot Class A office building located at 5601 Bridge St. Wright and Mehdi worked with Bridgestone’s Naveen C. Shah and Chirag Tolia in the transaction.
TEXAS –– Production Resource Group has leased 45,197 square feet of industrial space at 8607-8617 Ambassador Row in Dallas from LIT Industrial Texas. Jake Marks and John Hendricks of CB Richard Ellis (CBRE) represented the landlord and Bob Spletter of NAI Robert Lynn represented the tenant. Other leases include: Total Distribution & Logistics has leased 30,000 square feet of industrial space at 1625 Vantage in Carrollton from CRP-2 Holdings. Corbin Crews of CBRE represented the landlord. LB Hausys America Inc. has leased 42,672 square feet of industrial space at 500 Enterprise Dr. in Flower Mound from Hillwood Investments. CBRE’s Nathan Lawrence represented the landlord in the transaction. Samsung Telecommunications America has leased 20,104 square feet of office space at 2505 North Plano Road in Richardson from Plano Lookout Partners Ltd. Pat O’Keefe and David Liggitt of CBRE represented the tenant. Verizon Wireless Portfolio Mgmt. has leased 4,026 square feet of retail space at 6001 Skillman in Dallas from TC Timbercreek Associates. CBRE’s Jeff Kittleson represented the landlord and Daniel Taylor of CBRE represented the tenant. Smile Workshop-Timber Creek PLLC has leased 3,500 square feet of retail space at 6001 Skillman in Dallas from TC Timbercreek Associates. Scott Head and Jeff …
LUBBOCK –– Austin-based American Campus Communities has begun construction on a $34.8 million student-housing complex near Texas Tech University in Lubbock called The Village at Overton Park. The 612-bed development will include a 7,400-square-foot community center and is located across University Avenue from Jones AT&T Football Stadium. The project is expected to be opening in fall 2012.