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TOPPING OUT

Dallas-Ft. Worth
TOPPING OUT
TOPPING OUT
Texas Health Harris Methodist Hospital Alliance reached the halfway mark in its construction at I-35 and Golden Triangle Boulevard. The hospital is among only a few buildings nationwide to use pre-fab construction opting to build the inside of the hospital at the same time as the exterior. Pre-fabrication is a European technique that saves money and time, says Texas Health Alliance prez Winjie Tang Miao. While the foundation and steel beams go up, they are also building bathrooms, air ducts, and patient rooms in a warehouse.
Winjie Tang Miao
After the majority of the hospital?s construction is complete, THR will work with Real Time Locating System technology to personalize the patient?s experience and preferences during their hospital visit. Scheduled for a fall 2012 completion, the facility is master-planned for 350 beds but is constructing 100 beds in this first phase. The hospital will offer women and infants services, general medicine, general surgery, emergency services, outpatient imaging, and rehabilitation. The hospital recently opened Texas Health Convenient Care Alliance, which offers occupational health and business health services and will eventually offer primary care to the community.

LEASES

Sundance Square inked Five Guys Burgers and Fries (to be operated by Monument Restaurants) to fill a portion of the former Billy Miner?s at 313 Houston St next to Cabo Grande. Sundance started demolition of the Billy Miner?s space to house the burger joint and two or three more retail stores at Houston and 3rd Street in more than 12k SF. Monument also inked another Five Guys deal in the Sam Moon Center at I-35 and Heritage Trace Parkway in Fort Worth. That deal was repped by The Retail Connection?s Brandon Trimble,Andrew Sudderth, and Jim Weir repped the landlord, Sam and Daniel Moon. Edge Realty Partners' Josh Flores and Greg Bracchi repped Five Guys.

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Ozburn-Hessey Logistics leased 99k bottles of beer on the wall. Er, make that 99k SF of industrial space at 3700 Pinnacle Point Dr in Dallas from Garden Ridge. CBRE's Ann Huntington represented the tenant. Ann also repped Loftus & Woolsey in its almost 11k SF industrial space lease at 8607 Ambassador Row in Dallas from LIT Industrial Texas. CBRE's Jake Marks  and John Hendricks represented the landlord.

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AHC-The Healthcare Receivables Management Co leased 61k SF of office space at 3232 Royal Lane in Irving from PSBP Monroe. CBRE's Scott Hobbs represented the tenant. Jeff Paschal  of PS Business Parks represented the landlord.

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International Greenstream leased 48k SF of industrial space at 13950 Senlac Dr in Farmers Branch from The Realty Associates Fund VI. Seth Kelly and Ryan Keiser of CBRE represented the tenant.

 

SALES

Hayman Woods? HWM Zaragosa bought the Villas at Zaragosa, a 216-unit multifamily community in El Paso. Completed in 2008, Hayman Woods plans to start common area improvements as well as a regulation-size sand volleyball court, a poolside grilling/lounge area, upgraded pool furniture, a dog park, playground, and landscaping.

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Chicken Express
Chicken Express purchased the pad site at the northwest quadrant of Teel Parkway and Main Street (FM 720) next a soon-to-be built Braum?s Ice Cream restaurant. Henry S. Miller SVP Daniel Harris represented Teel Crossing in the sale of the almost 49k SF site to Chicken Express, which was represented by Bill Cox of Carey Cox Co. In April 2010, Daniel also secured the deal with Braum?s.

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Tabani Acquisition s purchased a 39k SF retail center at Mustang Crossing at 351-501 FM 548 in Forney from Wells Fargo Bank. Tabani will manage and lease the property, which includes vacant but turnkey tanning, restaurant, ice cream and sandwich shop space. The firm is an aggressive acquirer of value-add properties across the country and CBRE will be listing the outparcel portion (including GameStop, Cash Store, and Starbucks) of this property for sale. CBRE's Jennifer Pierson and Beth Pierson represented the seller. 

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Centric Capital Partners purchased the Freebirds World Burrito property at 1501 William D Tate Ave in Grapevine from The Raio Family Trust. The 32k SF pad and building were purchased for long-term investment purposes. Negotiations were handled by Chad DuBose of the John T. Evans Co. In a separate deal, BlueWave Express Car Wash purchased a one-acre pad site from Centric Capital Partners on Montfort Drive just south of Arapaho Road in Dallas. The transaction was handled by David Hardesty and Scott Sorrell of Hardesty Realty Group.

 

NEW BUSINESS

Henry S. Miller automotive real estate specialist Bill Bledsoe was awarded the for-sale listing assignment for automobile dealership Goodson Acura in Irving, which sits on a 12-plus acre automotive dealership property on the south side of SH 183 near Loop 12. Built in 1986, the site was expanded and updated in 2001; its 73k SF showroom features granite floors and is in move-in ready condition.

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Grubb & Ellis Co SVP Trae Anderson and associate Noreen Mehdi were selected as the leasing agents of 1345 River Bend Dr in the Stemmons submarket and The Offices at Grapevine in Grapevine. The team will represent Optimum Re Insurance Co in leasing the two-story 58k SF 1345 River Bend Dr site. The duo will also represent private owner Dennis Peterson in leasing The Offices at Grapevine, a 10k SF building at 2560 SW Grapevine Pkwy.

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Colliers International Asset Services? Scott McGarity and Kevin Brookmole were awarded the leasing and management of two projects in Richardson: Campbell Square II and Spring Creek Business Center. Both projects total just under 150k SF.

 

FINANCING

 
Hilton DFW Lakes
HFF arranged $43M in financing for the 395-room Hilton DFW Lakes in Grapevine. HFF worked exclusively for the borrower, a JV led by Somera Capital Management along with affiliates of Zelman Development Co, and Quorum Hotels & Resorts to secure the adjustable-rate loan through Cornerstone Real Estate Advisers. The lender was represented in-house by Tom Cross. The HFF team representing the borrower was led by director John Bourret and senior managing directors Dan Peek and Paul Brindley.

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CB Richard Ellis placed $120M of debt for its client, an affiliate of iStar Financial, for a multi-state portfolio occupied by Preferred Freezer Services. The portfolio encompasses 1.3M SF of freezer facility space including seven facilities in seven states across the US. The lender was RBS Securities, a subsidiary of The Royal Bank of Scotland. The portfolio includes facilities in seven cities. CBRE SVP Greg Greene represented the iStar Financial affiliate.

 

PEOPLE ON THE MOVE

Rody Timmons was appointed prez/CEO of Alliance Association Management. He will be responsible for developer and client services, marketing and new business development, maintenance services and the oversight of corporate programs and training. He was formerly the SVP for Associa Co Rampart Properties in St. Petersburg.