Texas

TRANSWESTERN BROKERS SALE OF STEEPLECHASE SHOPPING CENTER

by admin July 9, 2009

HOUSTON — Houston-based Transwestern has brokered the sale of Steeplechase Shopping Center, a 194,000-square-foot community retail center located in Houston. Situated at the intersection of Jones Road and FM 1960 West in the city’s Northwest submarket, the shopping center is occupied by a tenant roster that includes Palais Royal, 99¢ Only, Anna’s Linens and Capital One Bank. The buyer, Schreer Partnership Interests, plans to redevelop the property and add several national tenants. Rudy Hubbard and Leah Gallagher of Transwestern represented the seller, Weingarten Realty Investors. Leasing of the center will be handled by WPW Management.

July 9, 2009

NHI PURCHASES $55.5 MILLION SENIOR HOUSING PORTFOLIO

by admin July 9, 2009

HOUSTON, SAN ANTONIO AND PARIS, TEXAS — National Health Investors, Inc. (NHI) has purchased four skilled nursing facilities for $55.5 million in a sale/leaseback transaction with affiliates of Legend Healthcare. The portfolio consists of 595 beds. Two of the properties are located in Houston, and the other properties are located in San Antonio and Paris. NHI purchased three of the four nursing facilities in June for $39.7 million, and will purchase the final one no later than August for $15.8 million. The four facilities are being leased to Legend for 15 years at an initial lease rate of 10 percent plus annual increases. Legend has the option after 7 years to re-purchase them.

July 9, 2009

Industrial Texas

CBRE COMPLETES THREE LEASES

by admin July 9, 2009

HOUSTON AND HUMBLE, TEXAS — CB Richard Ellis (CBRE) has completed three leases in the Houston metro area. First, Houston-based Greenstar Recycling signed a lease for 18,900 square feet of warehouse space at 4789 Eastpark Dr., located in northeast Houston. Patrick Rollins of CBRE represented the tenant. The landlord, First Industrial Realty Trust, was represented by Blake Gibson of Colliers International. In addition, Stoneland Global Logistics signed a lease for 10,140 square feet of warehouse space within Kenswick Airfreight & Logistics Centre, located at 19051 Kenswick Dr. in the northern suburb of Humble. Rollins represented the landlord, LIT Industrial Texas LP. Tiffany Sebastian of ReMax NW represented the tenant. Finally, LandAmerica Charter Title Co. renewed its lease for 17,579 square feet of office space at the Whitney Bank Building, located at 4265 San Felipe St. in Houston’s Post Oak Park submarket. CBRE’s Kristen Rabel, Steve Rocher and Louann Orlando represented the landlord, BMS Management.

July 9, 2009

Multifamily Texas

STONELEIGH ON KENSWICK COMPLETE

by admin July 8, 2009

HUMBLE, TEXAS — Construction is complete for Stoneleigh on Kenswick Apartments, a 318-unit, Class A multifamily community located in Humble. Developed by a joint venture between Passco Companies Development LLC and Seneca Investments, the property is situated on 15 acres at 19800 Kenswick Dr. Amenities include a clubhouse with a media center, a cyber café with wireless Internet access, a resort-style swimming pool, a fitness center, and outdoor picnic and barbecue areas. Stoneleigh at Kenswick also is situated adjacent to a 275-acre nature preserve. The owners plan to stabilize the property over the next year and possibly sell it, depending on market conditions. The grand opening ceremony will be held at the end of the month.

July 8, 2009

Office Texas

WHITE ROCK DISPOSES OF 170,823-SQUARE-FOOT OFFICE BUILDING

by admin July 8, 2009

HOUSTON — Dallas-based White Rock Commercial has disposed of West Pointe Center, a Class A office property the company recently constructed in Houston. The three-story, 170,823-square-foot building is located at 9420 W. Sam Houston Pkwy. Wade Bowlin and Doug Little of Houston-based PM Realty Group represented White Rock in the sale. The undisclosed buyer was represented by Bob Parsley and Bill Byrd of Colliers International. The sale price was not released.

July 8, 2009

Hospitality Texas

MUMFORD BROKERS SALE OF 98-ROOM HOTEL

by admin July 8, 2009

KERRVILLE, TEXAS — Mumford Co. has brokered the sale of the Whitten Inn, located in Kerrville. The 98-room hotel is situates on Interstate 10 just outside of San Antonio. The buyer, Amer Host Inc., plans to extensively renovate the property and will seek franchise options following the summer travel season. The seller was Roarke-Whitten 3, Ltd. Acquisition financing was provided by a local bank.

July 8, 2009

Multifamily Texas

GABLES AUGUSTA SELLS

by admin July 7, 2009

HOUSTON — California-based Francis Property Management has acquired Gables Augusta, a 312-unit multifamily property located in Houston. The property is situated at 2660 Augusta Dr. within the city’s Galleria submarket. Constructed in 2004, it features loft-style residences in a four-story complex. Craig LaFollette, Todd Stewart, Todd Marix, Tre Banks and Chris Curry, all of CB Richard Ellis, represented the seller, Gables Residential, in the transaction. International Realty Concepts represented Francis Property Management. The acquisition price was not disclosed.

July 7, 2009

Civic Texas

CONCORDE CAREER COLLEGES TO OPEN NEW CAMPUS

by admin July 7, 2009

SAN ANTONIO — Concorde Career Colleges will soon open its second Texas campus in San Antonio. The new school will total 39,855 square feet and will be located within Corporate Square Garden at 4803 NW Loop 410. Concorde will occupy the facility beginning in November for a 15-year term. Future plans also call for the campus to expand by 4,000 to 8,000 square feet within its first year of operation. J.J. Williams, Jason Brumm and Maggie Nigro of Grubb & Ellis, along with Jeff Woolf of Cushman & Wakefield, represented Concorde in lease negotiations. The landlord, KBS Realty Advisors, was represented by Lindsey Tucker and Kelly Ralston of Transwestern. Concorde Career Colleges owns and operates 12 proprietary, postsecondary schools nationwide that specialize in healthcare vocational training. Its other Texas location is in Arlington.

July 7, 2009

Texas

NAI HOUSTON ARRANGES 4,000-SQUARE-FOOT SALE

by admin July 7, 2009

HOUSTON — NAI Houston has arranged the sale of a 4,000-square-foot commercial building, located at 3990 Barker Cypress Rd. in Houston. NAI’s Travis Land and Stephen Tou represented the seller, BLC Real Estate. The property was acquired for an undisclosed amount from Hankhuu Inc.

July 7, 2009

Office Texas

NRG TEXAS LEASES APPROXIMATELY 240,000 SQUARE FEET AT HOUSTON PAVILIONS

by admin July 6, 2009

HOUSTON — NRG Texas, along with its retail division Reliant Energy, has leased approximately 240,000 square feet of office space at Pavilions Tower, the office component of the Houston Pavilions mixed-use development, located in downtown Houston. With this most recent lease, the nine-story, Class A office tower component of the project is completely leased. NRG will take occupancy in March 2011. Eric Anderson and Greg Tilton of Transwestern represented the landlord, Houston Pavilions LP, in lease negotiations. George Strake III and Christopher Oliver of Cushman & Wakefield of Texas represented the tenant. Houston Pavilions also contains 320,000 square feet of retail, restaurant and entertainment space on three lower levels, as well as a 1,600-space parking garage. The second and third levels of the retail component are connected by “Sky Rings”, pedestrian bridges that span Fannin and San Jacinto streets.

July 6, 2009

Newer Posts

Older Posts