development2

Topping Out Ceremony Held for Three Hughes Landing, Embassy Suites The Woodlands/Hughes Landing

by Haisten Willis May 8, 2015

THE WOODLANDS, TEXAS — A topping out ceremony was recently held for Three Hughes Landing and the Embassy Suites The Woodlands/Hughes Landing. The two properties represent the newest additions to Hughes Landing in The Woodlands, a 66-acre mixed-use development offering views of 200-acre Lake Woodlands. Three Hughes Landing is a 12-story, 321,000-square-foot Class A office building designed for LEED Silver certification. The nine-story, 205-key Embassy Suites is an all-suite, full-service hotel for both business and leisure travelers. One Hughes Landing, a 197,719-square-foot, eight-story, Class A office building, opened September 2013. Two Hughes Landing, a 197,714-square-foot, eight-story, Class A office building, opened in May 2014.

May 8, 2015

Texas

Thrive Launches $50M Debt Fund Serving Texas Investments

by Haisten Willis May 7, 2015

AUSTIN, TEXAS — Thrive FP, an Austin-based commercial real estate investment and lending firm, is launching a new, $50 million fund as part of an effort to boost its private lending business throughout Texas. Thrive FP created the subsidiary Thrive Lending Fund LLC to manage and oversee its private lending and debt business. Justin Brogna, a banking industry executive with 19 years of experience, will run the operations. Since its inception in 2007, Thrive FP and its affiliates have invested over $100 million in debt and equity with over $350 million of real estate purchased. Thrive and its affiliates hold interests in over 4,000 apartment units that are valued at over $225 million and have lent more than $65 million in private money loans.

May 7, 2015

Industrial Texas

Ridgeline to Develop 453,600 SF Distribution Center in Dallas

by Haisten Willis May 4, 2015

DALLAS — Ridgeline Property Group (RPG) and its capital partner Stockbridge Capital Group have purchased a 29.5-acre parcel in the South Dallas industrial submarket. The property will serve as the site of a 453,600-square-foot distribution facility. Construction on Eagle Park 20\35, named for its location at the intersection of Interstates 20 and 35, will begin in June and is scheduled to be completed in the first quarter of 2016. RPG and Stockbridge Capital Group purchased the site, which is located within the Eagle Business and Industrial Park at Centre Park Drive, from Danieldale/35E No. 2 Ltd. Kurt Griffin and Nathan Orbin of JLL represented the buyer and seller in the transaction. Eagle Park 20\35 will feature 32-foot ceiling heights, 185-foot dual truck courts and abundant trailer storage. The 400-acre Eagle Business and Industrial Park is home to tenants including Solar Turbines, Kohl’s, Sam’s Club and Kauffman Tire. The business park also offers access to air travel from Dallas Executive Airport.

May 4, 2015

Office Texas

Newcor Commercial Real Estate Relocates Headquarters in Metro Houston

by Haisten Willis May 1, 2015

THE WOODLANDS — Newcor Commercial Real Estate has relocated its headquarters to Grogan’s Mill in The Woodlands. Rob Banzhaf and Ryan Dierker of Newcor Commercial Real Estate represented the company in negotiating the lease of the 2,415-square-foot office space located in 10200 Grogans Mill Road. Michelle Ellis-Felder with Rosemont Realty represented the landlord, BIG Woodstead Grogan TIC LLC. The company’s previous headquarters was also located in The Woodlands.

May 1, 2015

Multifamily Student Housing Texas

City of Waco Approves ACC Project Near Baylor University

by Haisten Willis April 30, 2015

WACO, TEXAS — Waco City Council has unanimously approved the zoning and design of a 702-bed student housing project in the former Speight Avenue H-E-B grocery location near Baylor University in Waco. The five-story, $40 million project, which American Campus Communities is developing, would join two other nearby complexes of the same size, the View on 10th and a proposed complex, Park7, according to the Waco Tribune. The City Plan Commission recommended and approved the project, which ACC will own, by a 7-3 vote.

April 30, 2015

Industrial Texas

Harlingen Airport in Rio Grande Valley Designated as Shovel-Ready Site

by Haisten Willis April 29, 2015

HARLINGEN, TEXAS — The Harlingen Aerotropolis at Valley International Airport has been designated as a Certified Site by McCallum-Sweeney Consultants, a selection and economic development consulting firm. American Electric Power hired McCallum-Sweeny Consulting Services to help develop and manage the process. After the applicant completes certification requirements, McCallum-Sweeney certifies that the property is ready for development, enhancing the marketability of the site. Harlingen Aerotropolis at Valley International Airport (formerly Harlingen Industrial Airpark) includes 479.5 acres.

April 29, 2015

Multifamily Texas

Huffines Breaks Ground on Apartment Community in Metro Dallas

by Haisten Willis April 28, 2015

ROWLETT, TEXAS — Huffines Communities has broken ground on a 650-unit apartment community in Rowlett. Harmony Hill, which will open in two phases, is located at the intersection of Merritt Road and the President George Bush Turnpike. Pre-leasing for the 326 apartments in Harmony Hill’s Phase I will begin in spring 2016. Harmony Hill will include one- and two-bedroom apartment homes in multiple floor plans ranging from 560 to 1,263 square feet. Planned amenities include a 7,000-square-foot clubhouse with a fitness center, business center, swimming pool and pavilion. JHP Architecture / Urban Design designed the buildings and Moore Design Group developed the interior design.

April 28, 2015

Hospitality Texas

Home2 Suites by Hilton Opens New Location in Austin

by Haisten Willis April 28, 2015

AUSTIN, TEXAS — Home2 Suites by Hilton Austin North/Near the Domain is now open. The mid-tier, all-suite hotel brand is designed for business travelers and extended stay guests. Home2 Suites now has nearly 200 hotels in its property pipeline, with another 30 locations scheduled to open by the end of this year. Home2 Suites’ portfolio expansion into Austin, which brings 135 new hotel rooms to the state of Texas, comes on the heels of a major spike in demand for the extended-stay hotel product. Esperanza Hospitality LLC owns Home2 Suites Austin North/Near the Domain, which is located at 2800 Esperanza Crossing.

April 28, 2015

Retail Texas

Cencor Breaks Ground on Retail Development in Metro Houston

by Haisten Willis April 27, 2015

CLUTE, TEXAS — Cencor Realty Services has broken ground on Woodshore Marketplace, a 140,000-square-foot shopping center at the southeast corner of Oyster Creek Drive and Dixie Drive within the master-planned Woodshore community near Houston. A 123,000-square-foot Kroger Marketplace will anchor Woodshore Marketplace. The Kroger Marketplace is projected to open in December. In addition to the Kroger, Woodshore Marketplace will also include 16,450 square feet of in-line space, along with three pad sites for freestanding concepts. Steve Chandler of Cencor is directing development of the community center. Woodshore Marketplace is set for completion in later this year.

April 27, 2015

Multifamily Student Housing Texas

Balfour Beatty Begins Third Phase of Housing Development at Tarleton State

by Haisten Willis April 27, 2015

STEPHENVILLE, TEXAS — Balfour Beatty has reached financial close on a new, $76 million phase of development for a student housing project at Tarleton State University, a member of the Texas A&M University System. In this third phase of the partnership, the Balfour Beatty team will deliver more than 1,000 student housing beds at the University’s Stephenville campus, as well as academic space for the ROTC program and shell space for a university-operated health clinic. Balfour Beatty Campus Solutions, a developer and operator of infrastructure projects for the university market, will serve as the lead developer on the project, which is scheduled to break ground later this month and open in August 2016. Dallas-based Balfour Beatty Construction will continue as the construction partner on the project. Designed by BOKA Powell Architects, a new 616-bed housing facility will be located adjacent to the football stadium, and will include two four-story structures with both four- and two-bedroom units in a modified suite configuration that will include private bedrooms, semi-private baths, a living room and kitchenette. Balfour Beatty will also renovate and expand Traditions Hall, an existing 180-bed student housing facility that will grow to 446 beds configured in double and single semi-suite …

April 27, 2015

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