Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.
Issue link: https://texasrealestatebusiness.epubxp.com/i/591312
S A N A N T O N I O & S O U T H 28 • November 2015 • Texas Real Estate Business www.REBusinessOnline.com CYPRESSBROOK ACQUIRES HUNTERS COVE APARTMENT COMPLEX IN BAY CITY BAY CITY, TEXAS — Cypressbrook Co. has acquired Hunters Cove, a 326-unit apartment complex located in Bay City about 80 miles southwest of Houston. Cypressbrook will begin improvements to the complex includ- ing new faux wood fooring, new ap- pliances, brushed nickel fxtures and hardware, resurfaced countertops, an upgraded pool area, landscaping im- provements, replaced roofs, and new signage. Cypressbrook's afliate, As- cension Commercial Real Estate, will manage the property. TRYPERION, GOODSTONE JV ACQUIRE UNIVERSITY PARK OFFICE PROPERTY SAN ANTONIO — Tryperion Part- ners and Goodstone LLC have ac- quired Network Tech Center, an 84,505-square-foot, three-building ofce park located in the University Business Park of San Antonio's North- west ofce market. Located along I-10 near Loop 1604, Network Tech Center ofers freeway access and close prox- imity to restaurant and retail ameni- ties. CBRE's Todd Mills represented the seller in the transaction. ARCHITECTURE FIRM PELLI CLARKE PELLI TO DESIGN FROST TOWER SAN ANTONIO — Architecture frm Pelli Clarke Pelli will design the Frost Tower, Frost Bank's new headquarters and San Antonio's frst new down- town ofce tower in three decades. The architecture frm, based out of New Haven, Conn., will orchestrate the design of the 400,000-square-foot ofce tower. Fred Clarke and Bill But- ler will lead the project. Pelli Clarke Pelli has designed and developed towers including the World Financial Center in New York and the Petronas Towers in Malaysia. Texas-based KDC will partner with Weston Urban on the tower project. LEE & ASSOCIATES NEGOTIATES 71,250 SF INDUSTRIAL LEASE SAN ANTONIO — Lee & Associ- ates has completed a lease for a 71,250-square-foot industrial space located at 8154 Bracken Creek in San Antonio. Tom Walrich and Reed Parker of Lee & Associates' Dallas/ Fort Worth ofce represented the ten- ant, KGP Telecommunications Inc. Charles Bujan with ERA Colonial Real Estate represented the landlord, Bracken Creek Properties Ltd. Te Ultimate Retail Destination McAllen continues to lead the way as the largest city in one of the fastest growing metro areas in the nation. Drawing from a consumer base of more than 10 million people within a 200-mile radius, McAllen sets the standard for retail, dining and overall quality of life in the Rio Grande Valley. Rebecca M Olaguibel Retail & Business Development Director (956) 681-1001 rmolaguibel@mcallen.net www.mcallenmeansbusiness.com Upon completion in 2016, a new road will intersect with General Hudnell Drive, providing the 1,900-acre property with additional road connections for logistics. PORT SAN ANTONIO BEGINS $9M ROAD EXTENSION SAN ANTONIO — The City of San Antonio's Transportation and Capital Im- provements Department has begun demolition of several obsolete buildings totaling over 40,000 square feet at Port San Antonio, a redevelopment of the former Kelly Air Force base, to extend portions of 36th Street by an additional half mile toward the south. Upon completion in late 2016, the new road will intersect with General Hudnell Drive, providing the 1,900-acre property with additional road connections in support of growing logistics activity. The road will now end near the aircraft maintenance workshop facilities and Air Force headquarters operations where the majority of the Port's 12,000 daily commut- ers work. The road extension will support the future development of industrial and mixed-use sites in the heart of the property.