development2

Moviehouse & Eatery Purchases Land at Craig Ranch in Metro Dallas

by Haisten Willis April 14, 2015

MCKINNEY, TEXAS — Moviehouse & Eatery has purchased 6.8 acres at Craig Ranch in McKinney. The land is located at Custer Road and U.S. Highway 121. Moviehouse will build a 40,000-square-foot, 10-screen movie theater at the property. The new theater is set to open in May 2016. This will be Moviehouse Eatery’s third location in metro Dallas. Tey Tiner and W. Thurston Witt Jr. of CBRE | UCR represented Craig Ranch in the land sale. Jason Middlebrook of Trulan Property Advisors represented Moviehouse & Eatery.

April 14, 2015

Hunt Entities Secures Financing, Project Development and Construction of Apartments in El Paso

by Haisten Willis April 13, 2015

EL PASO, TEXAS — Hunt Cos. has secured financing, project development and construction for 1,590 units across 13 properties in the city of El Paso. The project is Phase I of a rental assistance demonstration project. In December 2013, the Department of Housing and Urban Development approved The Housing Authority of the City of El Paso’s (HACEP) application to convert 6,100 units through the rental assistance demonstration initiative (RAD). RAD allows public housing agencies to leverage public and private debt and equity in order to rehabilitate public housing. HACEP selected Hunt Cos. as its development partner for Phase I of the project in 2014. The partnership will revitalize the properties over the next two years. Hunt Development Group will act as the development manager; Moss Construction will be the project’s master subcontractor; Hunt Mortgage Group provided the debt through a Freddie Mac tax-exempt loan direct purchase program; and Hunt Capital Partners secured the tax credit equity from Aetna, MetLife and USAA. The project represents a $250 million initial public/private investment, which could grow to a total of $1 billion over the next five years.

April 13, 2015

Retail Texas

Tyler’s Leases 17,274 SF for First Fort Worth Location

by Haisten Willis April 10, 2015

Fort Worth, Texas —Tyler’s will open a 17,274-square-foot store at the Trademark Property Co.’s WestBend mixed-use development in Fort Worth’s University District. Slated to open in early 2016, the regional retailer will bring athletic, lifestyle and collegiate apparel, footwear, eyewear and accessories to WestBend. It’s the company’s first location in Fort Worth and seventh statewide. Tyler’s will join the line-up of current WestBend tenants, including Zoë’s Kitchen, East Hampton Sandwich Co., and Silver Fox. In addition, The Fresh Market is slated to open this summer, and Grimaldi’s Coal-Brick Oven Pizzeria is slated to open this fall at the development. Upon completion in fall 2015, WestBend will include 280,000 square feet of retail, dining and office space.

April 10, 2015

Industrial Texas

McCarthy Breaks Ground on Houston METRO Harrisburg Overpass

by Haisten Willis April 8, 2015

HOUSTON — McCarthy Building Cos., and the Metropolitan Transit Authority of Harris County (METRO) have broken ground on the METRO Harrisburg Overpass project located in Houston’s East End. The project will be the final piece of METRO’s Green Line, which travels through downtown to the Magnolia Transit Center. The $27 million project will involve construction of a 2,400-linear-foot grade separation at the Houston Belt and Terminal (HBT) and Union Pacific Railroad (UPRR) railroad tracks located west of Hughes Road. It will include a bridge structure with aesthetic architectural features, two 16-foot wide vehicular traffic lanes, a 26-foot LRT guideway located in the center of the bridge structure, and two five-foot wide emergency walkways on each side of the bridge. The overpass is set to be complete in 12 months.

April 8, 2015

Office Texas

Behringer to Relocate to New Office in Metro Dallas

by Haisten Willis April 8, 2015

ADDISON, TEXAS — Behringer is relocating its corporate headquarters to Tollway Center, a 200,000-square-foot, six-story office building in Addison. The investment management firm, currently headquartered at One Addison Circle, has executed a 10-year lease for a new principal place of business located at 14300 Dallas Pkwy. The company expects the move to be completed by the third quarter of 2016. Jeff Staubach and Torrey Littlejohn of JLL represented Behringer, while JLL’s Jubal Smith and Matt Samler negotiated business and economic incentives. Tollway Center, which Cawley Partners is developing, will feature an open-air rooftop terrace, fitness center and indoor cafe. The project began in June 2014 when Cawley Partners identified six acres of land between Belt Line and Spring Valley Road on the west side of the Dallas North Tollway.

April 8, 2015

Georgia Hospitality Southeast

Value Place Opens Second Atlanta Hotel

by Haisten Willis April 6, 2015

ATLANTA — Value Place, an extended-stay hotel brand, has opened its second hotel in Atlanta and ninth hotel in Georgia at 2877 Dresden Drive. The four-story, 124-room hotel is located south of Chamblee Tucker Road inside the I-285 perimeter. The hotel features kitchens with a microwave, cooktop and refrigerator; high-speed Wi-Fi internet; guess laundry; and 24-hour vending. To date, Value Place has opened nearly 200 hotels in 31 states. The brand is targeting markets such as Chicago, Los Angeles, Philadelphia, Boston, Seattle, Miami, Portland, the Twin Cities and Fort Lauderdale for its continued expansion.

April 6, 2015

Retail Texas

Construction Begins on New EECU Credit Union Location in Metro Dallas

by Haisten Willis April 6, 2015

FORT WORTH, TEXAS — Construction has begun on EECU Credit Union’s 14th location in metro Dallas, which will be known as the Heritage Trace branch. Plans call for the 2,800-square-foot building, which will be smaller than other EECU branches, to use new technologies to make the most of the space. The facility will include video conferencing stations for members to chat with specialists as well as a self-service bar where members can complete simple transactions on tablets. The Hillwood development will be located in Alliance Town Center. The credit union expects to complete construction on the branch in August, and will follow with a grand opening. The branch will feature drive-thru banking, an ATM and night depository.

April 6, 2015

Industrial Texas

Stitch Fix to Open Distribution Center in Dallas

by Haisten Willis April 6, 2015

DALLAS — Stitch Fix, an online personal styling service for women, is set to open its third distribution center, which will be located in Dallas. The new distribution center, on Cockrell Hill Road, will open in June 2015 and will help the company serve clients in Texas and the southern United States. Stitch Fix, which is headquartered in San Francisco and also has an office in Austin, employs more than 200 stylists in the Dallas region. The company plans to hire 400 to 500 employees for the 316,000-square-foot facility, with plans to continue to grow the team in 2016. Hugh Scott and Kurt Griffin of JLL represented Stitch Fix in its search for a Dallas distribution hub.

April 6, 2015

Retail Texas

New Whole Foods Market to Open in Houston

by Haisten Willis April 3, 2015

HOUSTON — A Whole Foods Market is set to open April 8 at 1407 S. Voss Road in Houston. The new store will replace a current market located at 6401 Woodway and will double the store footprint serving the immediate area. Arch-Con Construction was the general contractor for the site and for the new 46,532-square-foot Whole Foods shell built on the former Randalls site. The store will be the anchor tenant for developer Regency Center’s existing Woodway Collection retail center. The building also includes 4,000 square feet of small shop space attached to the Whole Foods. Langford Market and Lilly Rain are the small shop tenants. Store features include a high-roof entry with glass and aluminum shutters, stone and IPE wood siding and an outdoor beer garden and music area. It is Arch-Con’s second Whole Foods Market.

April 3, 2015

Industrial Texas

Ridge Development to Build Rail-Serviced Industrial Park in Fort Worth

by Haisten Willis April 1, 2015

FORT WORTH, TEXAS — Ridge Development plans to construct a two-building industrial park on 47 acres in north Fort Worth. A joint venture between Ridge Development and LaSalle Investment Management will own the development, known as Railhead Industrial Park. Construction on the project is expected to begin in the second quarter of 2015. The first structure is a speculative building totaling 299,000 square feet, which should be finished by the end of this year. The second building is being marketed as a build-to-suit potentially spanning 343,000 square feet. Railhead Industrial Park has the ability to provide service from the BNSF Railway and has additional capacity for secondary service from the Union Pacific Railroad. The first building is planned for the southeast corner of North Main Street and East Industrial Road and will offer flexibility for single- or multi-tenant usage with storage and distribution space from 75,000 square feet to 299,000 square feet.

April 1, 2015

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