REBusinessOnline.com

August 06, 2012

JV BREAKS GROUND ON $40.5M RED RIVER ARMY DEPOT
TEXARKANA — A joint venture between McCarthy Building Cos. and GCC Enterprises has started construction on the $40.5 million Red River Army Depot, a 230,000-square-foot vehicle assembly building located in Texarkana. Upon completion, which is slated for April 2014, the facility will be responsible for the overhaul, repair and return of the Army's combat and support vehicles. The facility will include a high-bay maintenance facility, interior offices and a cafeteria. The building was designed to achieve LEED Silver certification.


WEEKS ROBINSON, AVERA TO BUILD INDUSTRIAL PARK
HOUSTON — Atlanta-based Weeks Robinson Properties and Houston-based Avera Cos. plan to develop the 562,000-square-foot Rampart Corporate Center, an industrial park located on a 40-acre site at West Little York and Holliston roads in Houston's northwest industrial submarket. The industrial park will consist of a 131,000-square-foot rear-load building, which is slated for an October 2012 delivery. Restoration Hardware has pre-leased 70,500 square feet in the facility, known as Building 100. The other two buildings include a 300,000-square-foot cross-dock facility and a 132,000-square-foot front-load facility. Powers Brown Architecture is designing the industrial park and Angler Construction is the contractor for Building 100. Faron Wiley of CBRE Group is handling the park's leasing and Carl Mullis and Billy Gold of CBRE Group represented Restoration Hardware in its lease transaction.


NYLO DALLAS SOUTH SIDE HOTEL NEARS COMPLETION
NYLO Dallas South Side Hotel, located at 1325 S. Lamar at Belleview in Dallas. DALLAS — The 101-year-old Dallas Coffin Co. Building has been converted to a five-story, 76-room boutique hotel known as NYLO Dallas South Side Hotel, located at 1325 S. Lamar at Belleview in Dallas. The hotel is set to open in mid-August 2012 and will be NYLO's third hotel in the Dallas/Fort Worth market. The hotel will feature SODA Bar, a glass-enclosed bar and lounge featuring an infinity pool and panoramic views of Dallas. The hotel will also include a bistro in the lobby, 950 square feet of meeting space and 4,500 square feet of rooftop terrace space for special events or corporate gatherings.


CADENCE MCSHANE TO CONSTRUCT 261,630 SF PROPERTY
Port Crossing — Building A3, a 261,630-square-foot distribution facility in La Porte. LA PORTE — Developers ML Realty Partners and National Property Holdings have selected Cadence McShane Construction Co. to build Port Crossing — Building A3, a 261,630-square-foot distribution facility located at 1902 S. 16th St. in La Porte. The facility is located within the 300-acre Port Crossing Commerce Center, a commercial/industrial park. The facility will feature staging bays, 47 dock-high loading doors, 16 rail-served doors, two grade-level ramps and 68 designated trailer parking spaces, a textured tiltwall panel exterior, ESFR sprinkler system, build-to-suit offices and 21 employee/visitor parking spaces. Houston-based Munson Kennedy Partnership is providing architectural services for the project.


SUMMIT PURCHASES RESIDENCE INN FOR $15.5M
ARLINGTON — Summit Hotel Properties has bought a 96-room Residence Inn by Marriott, located in Arlington, for $15.5 million. The purchase is Summit's 12th hotel acquisition since its initial public offering (IPO) in February 2011.

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