May 29, 2014 | ISSUE 430
Texas Real Estate Business E-Newsletter
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Cadence McShane Completes

Golden Triangle Mall Renovation 

The project included upgrades to Golden Triangle Mall's main entryway, as well as flooring, skylights, seating areas, parking areas and landscaping.

DENTON, TEXAS -- Cadence McShane Construction Co. has completed the renovation and expansion of Golden Triangle Mall in the Dallas/Fort Worth suburb of Denton. The project included upgrades to the 765,000-square-foot property's flooring, skylights, seating areas, main entryway, parking areas and landscaping, as well as the addition of an outdoor courtyard and 8,009-square-foot food court. Located at the interchange of I-35 and Loop 288, Golden Triangle Mall houses anchors Dillard's, Macy's, JC Penney and Sears, as well as more than 70 specialty stores. GTM Development Ltd., a joint venture between Cencor Realty Services and The MGHerring Group, acquired the property in 2011 and hired Cadence McShane for the project. C.M. Architecture P.A. provided architecture services for the renovation, and Brockette/Davis/Drake Inc. served as civil engineer.

 

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HFF Arranges Sale, Financing

for 308-Unit Apartment Complex

Alliance Residential Co. has acquired The Retreat at City Park and will rebrand the property, which is located at 1640 E. T.C. Jester Blvd., as City Park.

HOUSTON -- HFF has brokered the sale of a 308-unit multifamily property in Houston formerly known as The Retreat at City Park. Alliance Residential Co. acquired the Class A property and has rebranded it City Park. Completed in 2003, the community is located at 1640 E. T.C. Jester Blvd. and offers one- to three-bedroom apartments averaging 836 square feet in size. The asset was fully occupied at the time of the sale. Todd Marix, Todd Stewart, Chris Curry and Tre Banks of HFF represented the seller, San Antonio-based Fulton Property Group LLC, in the transaction. Colby Mueck led HFF's debt placement team in arranging acquisition financing for the buyer.

 

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Wasa Properties Acquires 103,033 SF Shopping Center in Richardson

Tom Thumb anchors Arapaho Village Shopping Center, which also houses Tuesday Morning, Hallmark, Papa John's, The UPS Store, State Farm and H&R Block.

RICHARDSON, TEXAS -- Wasa Properties has acquired Arapaho Village Shopping Center, a 103,033-square-foot shopping center in the Dallas/Fort Worth suburb of Richardson. Located at 819 W. Arapaho Road, the property is home to anchor Tom Thumb, as well as Tuesday Morning, Hallmark, Papa John's, The UPS Store, State Farm and H&R Block. CW Capital sold the asset. New York-based Wasa Properties purchased the center through Auction.com.

 

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Panattoni Development Co. Breaks Ground on 135,000 SF Office Building

The speculative project is located within the Beltway 8 Corporate Centre complex, located on Beltway 8 just north of Clay Road in northwest Houston.

HOUSTON -- Panattoni Development Co. has broken ground on a 135,000-square-foot speculative office building at its Beltway 8 Corporate Centre complex in northwest Houston. The Class A structure will feature a two-story lobby. Beltway 8 Corporate Centre, located on Beltway 8 just north of Clay Road, currently consists of eight buildings that are more than 99 percent occupied. Arch-Con is the design-builder on the new project, while Powers Brown provides further project design services.

 

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Long View Equity Completes

24,000 SF Office Complex in Austin 

The two-building complex, which offers floorplates as small as 1,250 square feet, is located in proximity to Cedar Park Regional Medical Center.

AUSTIN, TEXAS -- Developer Long View Equity Partners Ltd. has completed a new two-building, 24,000-square-foot office complex in Austin. Located near the Cedar Park Regional Medical Center, the facilities offer space to professional and medical office tenants in floorplates as small as 1,250 square feet. Brian Novy of The Brian Novy Co. is handling leasing for the property. Locally based Cornerstone Architects designed the complex, and Sun Builders Co. of Houston served as general contractor.

 

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Transwestern Brokers 116-Unit

Student Housing Property Sale

Casa del Sol Apartments is located adjacent to the Texas A&M University campus and offers one- and two-bedroom residences.

COLLEGE STATION, TEXAS -- Transwestern has brokered the sale of Casa del Sol Apartments, a 116-unit student housing property in College Station. Located adjacent to the Texas A&M University campus, the complex offers one- and two-bedroom residences, as well as a laundry facility and swimming pool. Jeff Rogers and Chris Stutzman of Transwestern represented the seller, Tennessee-based real estate investment company Colorado Holdings & Management, in the transaction. A Dallas-based investment and development firm acquired the property.

 

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Q10 | KDH Arranges $8.3M Loan

for Houston Flex Property Acquisition 

Archer Well Co., a service and materials provider in the oil and gas industries, fully occupies the facility, which is located in northwest Houston.

HOUSTON -- Q10 | Kinghorn, Driver, Hough & Co. (Q10 | KDH) has arranged an $8.3 million loan on behalf of an unnamed buyer for the acquisition of a 112,000-square-foot flex property in northwest Houston. Archer Well Co., a service and materials provider in the oil and gas industries, fully occupies the facility. Ray Driver III, Matt Franke and Travis Fite of Q10 | KDH closed the non-recourse loan within 44 days.

 

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Thoughts From RECon: Top 5 Ways Shopping Centers are Changing

The Westfield Group has embraced pop-up shops, which not only add a refreshingly new mix of merchandise to a center, but also temporarily absorb vacancies. Westfield San Francisco Centre introduced three digital pop-up shops this past November, including Sony, TOMS and Rebecca Minkoff.

LAS VEGAS -- Competition among retailers may be fiercer today than ever before when it comes attracting a consumer's dollars. Although the recession might be solidly behind us, the average shopper has access to a plethora of online and brick-and-mortar retailers, as RECon panelists and attendees pointed out during this year's show, which took place May 18 to 20 at the Las Vegas Convention Center.  

 

Many popular retailers are once again in growth mode. Shopping center owners are vying for their attention -- and for good reason. More outposts means the consumer has more conveniently located shopping centers with comparable tenants from which to choose. It may also mean your center is out of luck if you fail to recruit the top talent in retail.

 

The top talent in retail, meanwhile, is looking to wine and dine its prospective shoppers -- both figuratively and literally. This strategy often begins before a tenant has even committed to a space, leaving the responsibility for a fun, friendly and entertaining atmosphere to fall directly on the shoulders of the center's operator.

 

Follow the link to read about five key strategies outlined by RECon panelists and attendees that detail how a center can remain competitive for both key tenants and shoppers. These strategies also highlight just how many changes the average American shopping center is likely to face as leases expire, new concepts roll out and the fickle consumer becomes no less predictable.

 

Click here to read the rest of Nellie Day's article. 

 

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HARLINGEN EDC
NAFTA 20th Anniversary Overview


June 3
University Center (2424 Boxwood St.), Room 136
Harlingen
Click here for more info


CCIM HOUSTON/GULF COAST
Chapter Luncheon


June 12
Maggiano's (2019 Post Oak Blvd.)
Houston
Click here for more info


CREW DALLAS
Monthly Luncheon


June 18
Park City Club
Dallas
Click here for more info

Have an event that you would like to share with our
readers? Send an email with the details to texas@francemediainc.com


Contact Us

John McCurdy, Editor
Texas Real Estate Business
France Media, Inc.
404-832-8262
404-832-8260

jmccurdy@francemediainc.com

www.REBusinessOnline.com

 



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