development2

C:UsersMark-6600Dropbox (Children's Design)_Primrose Active

Primrose Schools to Anchor Development in Metro Dallas

by Haisten Willis June 26, 2015

FRISCO, TEXAS — VCM Development has sold a 119,868-square-foot site in Frisco to Primrose Schools. The site is located at the northeast corner of Main Street and Teel Parkway in west Frisco. Primrose will anchor VCM Development’s Teel Crossing I shopping center. Vaughn Miller of VCM Development Group represented the seller, and David Shelton of CBRE / UCR represented Primrose. VCM is developing a 20,020-square-foot retail center adjacent to Primrose on the tract, which the VCM Commercial Real Fund acquired in 2014. BB&T provided $3.8 million of construction financing for the development. VCM Development Group LLC is a Dallas-based diversified real estate investment and development company, founded in 2013 by Vaughn Miller, oldest surviving son of Dallas real estate legend Vance C. Miller and grandson of Henry S. Miller Jr.

June 26, 2015

New Audi Dealership to Open in Metro Dallas

by Haisten Willis June 25, 2015

MCKINNEY, TEXAS —Sewell Automotive Cos. has purchased 10.5 acres to build an Audi dealership at Craig Ranch at the northwest quadrant of SH 121 and Stacy Road in McKinney. The new dealership will span 65,000 square feet, which includes a separate certified pre-owned vehicle building, and will employ 100 people. Brian Murphy with Edge Real Estate represented Sewell Automotive Cos., and Tey Tiner and W. Thurston Witt, Jr. of CBRE | UCR represented Craig Ranch.

June 25, 2015

Restaurant Retail Texas

More Retail, Restaurants Announced for River Oaks District in Houston

by Haisten Willis June 25, 2015

HOUSTON — San Diego-based developer OliverMcMillan has arranged the lease of additional boutiques and restaurants joining River Oaks District. Stella McCartney, Van Cleef & Arpels, Vince, Vilebrequin, Planet Blue, St. Nicola, Davidoff and Steak 44 have signed agreements to operate locations at the open-air shopping dining and entertainment destination. Previously announced River Oaks District tenants include Akris, American Food and Beverage (AF+B), Anne Fontaine, BONOBOS, Brunello Cucinelli, Canali, Cartier, Chopard, Patek Philippe at deBoulle, Dior, Diptyque, Dolce & Gabbana, Equinox, Etro, Giuseppe Zanotti, Hermès, INTERMIX, iPic Theaters, John Lobb, Kiton, Le Colonial, L’Occitane, Moncler, Roberto Cavalli, Taverna, Thirteen Pies, Tom Ford, and Toulouse Café and Bar. River Oaks District is expected to open this fall.

June 25, 2015

Mixed-Use Retail Texas

Victory Real Estate Begins Construction on Mixed-Use Development in Metro Dallas

by Haisten Willis June 24, 2015

FLOWER MOUND, TEXAS — Victory Real Estate Group has begun construction on a seven-acre tract of land located at the northeast corner of FM 3040 and Morriss Road. Located in Flower Mound, Victory at FM 3040 will be a mixed-use retail development comprising two pad sites and 37,600 square feet of retail space. Construction will be completed in the near future. The center is currently 50 percent pre-leased. The acre site was the only remaining undeveloped corner and will have the only street facing retail on all four corners in Flower Mound.

June 24, 2015

Office Texas

Mattress Firm Announces New Corporate Campus in Houston

by Haisten Willis June 22, 2015

HOUSTON — Houston-based Mattress Firm Inc. plans to consolidate the company’s two Houston offices into one corporate campus with more than 350 employees. The company will move into a 130,000-square-foot property at 10201 S. Main St. in June 2016, providing more space and growth opportunities for the specialty bedding retailer. The new corporate campus will include an on-site cafeteria, meeting spaces and conference centers. The property is in close proximity to several of the area’s retail, dining and entertainment destinations. The campus will also provide access to Loop 610, US 59, SH 288 and US 90. Future plans for the campus may include an on-site gym, wellness center, walking trails and sleep centers. The new Mattress Firm headquarters will occupy the entire building, currently leased by Stage Stores Corporate.

June 22, 2015

Retail Texas

MYCON Completes $2.3M Renovation of Cinemark in Metro Dallas

by Haisten Willis June 19, 2015

GRAND PRAIRIE, TEXAS — MYCON General Contractors has completed a $2.3 million renovation of the Cinemark movie theater located at 220 E. Westchester Parkway in Grand Prairie. The 43,059-square-foot renovation included installing electric recliners, renovating the corridors, restrooms, lobby, game room and back-of-house operations, creating an interior ticket office and concession area with new casework, high-end finishes and food service equipment, updating the façade and installing a 60-foot electric signage tower. In addition to MYCON General Contractors, the project team included TK Architects for design, structural and mechanical engineering.

June 19, 2015

Hospitality Midwest Ohio

Kaufman Plans Redevelopment of Top 24 Floors of LeVeque Tower

by Katie Sloan June 19, 2015

COLUMBUS, OHIO — Kaufman Development plans to redevelop 78 residential units in the top 24 floors of LeVeque Tower in Columbus. Tower 10, a local investment group principally owned by Don Casto and Robert Meyers, purchased the 46-story building in 2011 and began immediate renovation work on the lower floors and exterior including facility upgrades, a lobby redesign and streetscape improvements. Kaufman’s residential units will include marble flooring, updated appliance packages, stone and quartz countertops, spa-like bathrooms, high-efficiency home technology and large closets with extensive shelving. Residents will also have access to a full floor of storage. The rental units will offer one-bedroom options ranging from 750 to 1,150 square feet, and two bedroom options ranging from 1,250 to 2,400 square feet. The condominiums will include both flat and duplex units. Occupancy is set to begin in the spring-summer season of 2016

June 19, 2015

Aberdeen-NJ-Hudson-Ridge-Age-Restricted-Building

Multifamily New Jersey Northeast Seniors Housing

RPM to Develop Apartments and Age-Restricted Housing in Aberdeen, N.J.

by Jaime Lackey June 18, 2015

ABERDEEN TOWNSHIP, N.J. — RPM Development Group will develop a three-building affordable housing project that will include rental units for seniors and people of all ages, as well as a new senior community center, in Aberdeen Township. The project, which will feature two residential buildings, will be located on 14 acres on Church Street formerly occupied by South River Metals Corp. Hudson Ridge Senior Residence at Aberdeen will offer 67 one-bedroom and eight two-bedroom rental units of age-restricted housing for those 55 years or older. The second residential building, Hudson Ridge Residence at Aberdeen, will provide 70 one-, two- and three-bedroom rental units that will not have age restrictions. Preference on the rentals will be given to households that were impacted by Hurricane Sandy. Combined cost for constructing the two residential buildings will be $44 million. The site plan also calls for a separate 2,500-square-foot senior community center available for use by all residents of Aberdeen. Site work is anticipated to begin in the fall, with buildout expected to take two years. The project, which will strive for LEED certification, will be constructed with government assistance, including Community Development Block Grant (CDBG) Disaster Relief funding, along with 4 percent low-income housing …

June 18, 2015

Retail Texas

Trivanta, a Net-Leased Property Sales Firm, Launches in Dallas

by Haisten Willis June 17, 2015

DALLAS — Three retail real estate industry veterans have launched Trivanta, a real estate advisory firm specializing in the disposition of net-leased properties. Bob Moorhead, Joe Caputo and Mark Wheeler have joined forces as managing partners, with a collective 60 years of industry experience and sales transactions valued at over $2.4 billion. Trivanta, headquartered in Dallas, specializes in seller representation and works with build-to-suit developers, existing owners of net-leased properties and tenants that want to sell their real estate and lease it back on a long-term basis. Assignments range from marketing single assets to large portfolios nationwide. Moorhead and Caputo came together in 2011 at EXP Realty Advisors, where they built their team and marketing platform. In 2014, the pair closed more than 100 transactions. Prior to Trivanta, Wheeler founded Retail Resource Group, a full-service tenant outsource real estate solution.

June 17, 2015

Multifamily Texas

Construction Begins on Phase II of Willow Bend Commons in Metro Dallas

by Haisten Willis June 17, 2015

PLANO, TEXAS — Dallas-based real estate developers Roger Gault of Gault Co. and Robert Gunby with RTG Capital LLC, along with Shane Shoulders, have broken ground on Phase II of Willow Bend Commons located at 1855 Dallas Parkway in Plano. The 6,000-square-foot retail building is 70 percent pre-leased. Completion is planned for October of this year. The partners purchased 5.2 acres from Costco for the development, which is on the west side of the tollway, south of Park. Phase I is a 14,000-square-foot retail center that was 100 percent leased before construction finished at the end of 2014. The first tenants opened for business in late February.

June 17, 2015

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