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Rendering of a $16 million, 60,000-square-foot medical office facility in Waco.
WACO — Johnson Development has plans to develop a $16 million, 60,000-square-foot medical office facility on the campus of Providence Healthcare Network in Waco. The two-story facility will house family practice physicians, pediatricians and pediatric sub-specialists. The facility will also have capabilities for physical, speech and occupational therapy, imaging, lab and retail pharmacy space. Johnson Development expects to break ground on the facility this fall and to deliver by fall 2013.
LAS CASCADAS IN DALLAS SELLS
Las Cascadas, an apartment complex located at 9350 Skillman St. in northeast Dallas.
DALLAS — Marcus & Millichap has arranged the sale of the 798-unit Las Cascadas, a 599,160-square-foot apartment complex located at 9350 Skillman St. in northeast Dallas. Norman Eastwood and Tommy Lovell III of Marcus & Millichap's Dallas office represented the seller, a partnership based in California, in the transaction. Marcus & Millichap represented the buyer, a local partnership. The community features a swimming pool, sundeck, fitness center, picnic areas, playground and a sports court.
VILLAGE AT FAIRVIEW, ALLEN ADD NEW TENANTS
The Village at Allen
FAIRVIEW AND ALLEN — The Village at Fairview and The Village at Allen, two joint mixed-use developments, have added new tenants. Together, The Village at Fairview and The Village at Allen span more than 3 million square feet, making it the biggest mixed-use development in Texas. The properties are located at the intersection of U.S. 75 and Stacy Road in Fairview and Allen. ULTA Beauty will open a 10,700-square-foot store at The Village at Fairview, Texas Land & Cattle Steak House will open an 8,500-square-foot restaurant at The Village at Fairview and Havertys will open a 50,750-square-foot store at The Village at Allen. Princeton Partners represented the owner, The MGHerring Group, in the Havertys transaction. The MGHerring Group was self-represented in the ULTA and Texas Land & Cattle transactions.
BEECH STREET CLOSES $5.8M FANNIE MAE LOANS
DALLAS — Beech Street Capital has originated $5.8 million in Fannie Mae DUS loans to refinance a two-property apartment portfolio in the Dallas MSA. The properties include Valley Creek and Living Oaks, which total 250 units combined. Larry Sneathern of Beech Street's Dallas office arranged the five-year loans with three years of interest-only payments.
SHADOW CREEK PHASE I FULLY LEASED
PEARLAND — Hatch Mott MacDonald Group Inc. has leased 19,523 square feet at Phase I of the Shadow Creek Business Center, an office property located at 11233 Shadow Creek Parkway in Pearland. The transaction brings the office property to full occupancy. Derek Beck of Moody Rambin represented the building owner, ZT Group Business Center One (Pearland), in the lease transaction. Ryan Fassett of Moody Rambin represented the tenant. Additionally, pre-leasing for Phase II is under way. Construction of Phase II is expected to last 12 to 18 months.