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
34 • November 2015 • Texas Real Estate Business www.REBusinessOnline.com It has been a tremendous year for the Twin Cities of Texarkana, Texas and Texarkana, Ark. with the educa- tion sector topping $70 million and a $180 million major medical campus projected to commence in early 2016. Educational Opportunity Texas A&M; University-Texarkana has been awarded $35.5 million in state funding for the construction of a new building to house and expand its nursing program, including the expansion of a Master's Degree pro- gram, and to promote student success initiatives. The Texas A&M; University system expanded its four year-uni- versity program to Texarkana in 2010, with the frst freshman class admitted that year including Phase I dorms on the 300-plus acre Bringle Lake Cam- pus. University of Arkansas Community College at Hope (UACCH) expanded a satellite campus on Texarkana's Ar- kansas side in 2012, with over $5.4 million going toward the construc- tion of two buildings that service over 300 local students. Working hand in hand with the University of Arkansas at Little Rock, UACCH has expanded their four-year university program, and will continue to grow as the new health professions building completes construction. Further education initiatives in- clude a $29.2 million commitment from Texarkana Independent School District for the construction of a new sixth grade center and an arts-fo- cussed elementary school facility. The building will compliment the science, technology, engineering and math (STEM)-based Martha and Josh Mor- riss Mathematics and Engineering El- ementary nearby. Industrial Growth TexAmericas Center, one of the larg- est industrial parks in North America, has seen an infux in interest from national and international manufac- turing and distribution companies. The second phase of the redevelop- ment is underway on the 12,000-acre campus, including more than 1 mil- lion square feet of industrial improve- ments. Companies are assured access to a foreign trade zone and industrial infrastructure such as rail service from the Union Pacifc Railroad, the Texas Northeastern Railroad (a Genesee & Wyoming company) and Lone Star Railcar Storage Co. Additionally, Alcoa has announced the reopening of their plant to meet the demand for aluminum slab driven by the automotive industry. The re- opening is expected to create 80 jobs by 2016. Enjoying continued infrastructure growth, the completion of I-49 from Texarkana to New Orleans and the on- going development of I-69 has trans- lated to higher trafc counts where I-49 and I-369 converge. In addition, over $20 million in infrastructure proj- ects are either underway or have been proposed by the two cities. With a vibrant education sector and an aggressive medical sector, Texarka- na's retail oferings are extremely def- cient with signifcant pent-up demand from approximately 500,000 local and regional consumers. Pent-Up Demand Texarkana ofers excellent land available along I-30's regional retail corridor, including the 500-acre, mas- ter-planned Waggoner Creek Cross- ing development west of Richmond Road, and the Crossroads business park east of Stateline Avenue. M A R K E T H I G H L I G H T: T E X A R K A N A TREMENDOUS GROWTH UNDERWAY IN THE 'TWIN CITIES' Richard Reynolds President, Reynolds Realty Management $40,600,000 Floating Rate Credit Facility 120 Restaurant Locations (Leasehold Only) Northeast KFC Portfolio Nationwide $40,000,000 Project Finance Advisors 1.5mm s.f. Mixed Use Development 1401 Elm Street Dallas, Texas $15,340,000 Medium Term Fixed Rate Mortgage 127,670 s.f. Multi Tenant Retail Property Worthington Square Mall Worthington, Ohio $13,840,000 Interim Construction Loan 16 Acre Retail Development Site University at Valley Mills (Phase II) Waco, Texas $12,750,000 Interim Acquisition Loan 95,952 s.f. Multi Tenant Retail Property Walnut Square Shopping Center New Braunfels, Texas $11,740,000 Permanent Debt & Equity Placement 173,673 s.f. Retail Shopping Center Resaca Village Brownsville, Texas $11,369,000 Interim Construction Loans Single Tenant Portfolio First Choice ER Colorado / Texas $10,950,000 Permanent Fixed Rate Mortgage 95,421 s.f. Retail Shopping Center Elk Lakes Shopping Center Greeley, Colorado $10,800,000 Floating Rate Acquisition Loan 104,000 s.f. Retail Shopping Center Richardson Plaza Richardson, Texas $9,300,000 Permanent Fixed Rate Mortgage 200,488 s.f. Retail Shopping Center Southwest Plaza Shopping Center San Angelo, Texas $6,950,000 Permanent Fixed Rate Mortgage 48,752 s.f. Retail Shopping Center Powell Crossing Powell, Ohio $6,080,000 Fixed Rate Acquisition Loan 63,952 s.f. Retail Shopping Center II Creeks Plaza Richardson, Texas The One Stop Shop FOR SHOPPING CENTER FINANCE Recently Closed Commercial Retail and Mixed Use Transactions: Join us at ICSC Texas Conference & Deal Making – Booth 301 Dallas Offce – 972.267.0600 Denver Offce – 303.647.1122 www.metcapital.com Texarkana offers excellent land available along I-30's regional retail corridor.