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Monthly Archives: October 2012

Embrey Buys 29 acres in San Antonio for New Multi-Family Project

SAN ANTONIO – San Antonio-based apartment developer Embrey Partners, Ltd. has closed on a new urban infill site, located on West Avenue along the Wurzbach Parkway extension in north central San Antonio. Groundbreaking on the 29-acre site will begin in mid-November 2012, with the first apartment residents beginning in early 2014. The 360-unit project will feature floor plans ranging from 613 square feet ... Read More »

Dallas Retail Center Sells for $39.3 Million

DALLAS — Inland Diversified Real Estate Trust purchased the newly constructed Wheatland Town Center, a 206,223-sf shopping center located in Dallas, for $39.3 million. Tenants at the center include Ross Dress for Less, PetSmart and Office Depot, and the property is shadow-anchored by a Target store, which was not acquired. Additional tenants at Wheatland Town Center include Party City, Dollar ... Read More »

Nelson Duffie Buys Industrial Properties

HOUSTON – NDI Industrial Partners, Ltd., a partnership sponsored by Nelson Duffie Interests, Inc., acquired a 417,825 square foot industrial portfolio from Prologis, Inc. This is Nelson Duffie’s second largest industrial acquisition to date. Tom Lynch with CBRE represented the seller and Nelson Duffie represented themselves in the transaction. John T. Fenoglio of CBRE Capital Markets, LLC arranged the acquisition ... Read More »

Huge Grand Parkway Expansion Underway North of Houston

HOUSTON – Deal Sikes & Associates, an eminent domain consulting firm, reported that 600 parcels of private property will be acquired by governmental entities in the $1 billion Grand Parkway expansion project which has just begun in the northern suburbs of Houston. The new road will enhance development opportunities north of Houston. The acquisition of the property for the 37-mile expansion of the ... Read More »

Moody Rambin: New Office Project in Pearland, Texas

By Ralph Bivins PEARLAND, Texas — After leasing up the first phase of Shadow Creek Business Center, an office building in the Houston suburb of Pearland, ZT Group is planning to start a second phase building. Pearland has seen extensive residential and retail construction over the last 10 years, but the submarket has been slow to be recognized as an office location. ... Read More »

Hines Buys Cafe Adobe Site for Houston Apartment Construction

HOUSTON – Hines, one of the largest real estate development firms in the world, has acquired the Cafe Adobe restaurant property on Westheimer Road in Houston for a new apartment project, according to The restaurant’s remaining TexMex eateries will remain open, but the original Cafe Adobe, 2111 Westheimer, one block west of Shepherd Drive, has been purchased by Hines. ... Read More »

Houston’s Buffalo Bayou Named to America’s Great Places

Houston’s Buffalo Bayou, regarded as a park around downtown, has been named one of the Great Places in America by the American Planning Association. The organization’s Great Places in America recognizes unique and exemplary streets, neighborhoods, and public spaces – three essential components of all communities. These authentic places have been shaped by forward thinking planning that showcases diverse architectural ... Read More »

Hines/Oaktree Venture Buys Vegas Buildings for $120 Million

LAS VEGAS — The Houston-based Hines real estate firm and Oaktree Capital Management of Los Angeles had purchase 32 buildings in Las Vegas for $120 million or $109 per sf, according to Real Estate Alert. The buildings are in the Summerlin master-planned community, one of the largest projects in the nation. Located on 13 separate campuses in Summerlin, the institutional-quality ... Read More »

Hanover to Develop Apartments near Houston’s Kirby Drive

HOUSTON — Hanover Co. has acquired old Bissonnet Village apartment complex, which will be torn down and replaced with new multi-family construction. The 4.3-acre site is just west of Kirby Drive, on the north side of Bissonnet in the Inner Loop area of Houston. Stan Creech Properties handled the sale of the property. Hanover will construct 434 units on the ... Read More »

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