REBusinessOnline.com

October 29, 2012

MCCARTHY DELIVERS DALLAS CITY PERFORMANCE HALL
DALLAS — McCarthy Building Cos. has completed the 124,000-square-foot Dallas City Performance Hall, a multi-phase theater facility in the Dallas Arts District. The facility includes a 750-seat theater, grand lobby, two star dressing rooms, educational/meeting space and an enclosed garden. A future Phase II will feature two 200-seat theaters, an art gallery, cafe and bookshop. Dallas-based Corgan Associates is the architect of record, and Chicago-based Skidmore, Owings & Merrill is providing design services. The facility is on track to be the first LEED Silver performing arts center in Texas.


25TWENTY IN LUBBOCK PART OF ACC'S $862.8M ACQUISITION
25Twenty in Lubbock. The 562-bed community houses students from Texas Tech University. LUBBOCK — Austin-based American Campus Communities (ACC) has purchased 19 student housing communities across the U.S. totaling 12,049 beds for $862.8 million, including 25Twenty in Lubbock. The 562-bed community houses students from Texas Tech University. ACC's purchase consists of the assumption of $396.2 million of outstanding mortgage debt and $466.6 million in cash. The acquisition is slated to close in the fourth quarter of this year. The portfolio is currently 92.3 percent occupied for the 2012-2013 academic year. ACC is planning on replacing six different third-party managers at the close of the transaction. Affiliates of Kayne Anderson Capital Advisors are the sellers of the portfolio.


VELOCIS PURCHASES TWO AUSTIN RETAIL CENTERS
West Woods Shopping Center AUSTIN — Velocis has purchased West Woods Shopping Center and Springdale Shopping Center, two centers located in Austin totaling more than 350,000 square feet. The shopping centers are valued at approximately $60 million. The 189,340-square-foot West Woods is located at the intersection of Bee Caves Road and Walsh Tarlton Lane. The center is 97 percent leased to Stein Mart, Michael's, Petco and CVS/pharmacy, as well as a variety of local boutique shops. The 163,677-square-foot Springdale Shopping Center is located in northeast Austin near the new Mueller Airport redevelopment. H-E-B anchors the center, whose other tenants include Fashion Outlet, Carousel Pediatrics, Family Dollar and O'Reilly Auto Parts.


M&M ARRANGES COMERICA BANK SALE
Comerica Bank branch in Houston. HOUSTON — Marcus & Millichap has brokered the sale of a Comerica Bank branch in Houston. Alvin Mansour of Marcus & Millichap's The Mansour Group in San Diego represented the seller, a developer, in the transaction. The buyer was a Southern California-based investor.


UPTOWN VILLAGE AT CEDAR HILL ADDS NEW TENANTS
Uptown Village at Cedar Hill CEDAR HILL — Uptown Village at Cedar Hill, a 615,000-square-foot shopping center located at 305 W. FM 1382 in Cedar Hill, has added new tenants to its roster. Recent store openings include Wet Seal, PS from Aeropostale, Crazy8, Kid's Foot Locker and Christopher's Menswear. Journeys and DXL Men's Apparel will open new stores in December as well. In 2013, Kay Jewelers and Massage Envy will open new stores. In addition, The MGHerring Group, owner of Uptown Village, has installed three Electronic Vehicle (EV) charging stations at Uptown Village. Cedar Hill is currently the only city with EV charging stations between Dallas and Houston.

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