Texas Real Estate Business

OCT 2017

Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.

Issue link: http://texasrealestatebusiness.epubxp.com/i/885420

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A U S T I N & C E N T R A L T E X A S 8 • October 2017 • Texas Real Estate Business www.REBusinessOnline.com D A L L A S & F O R T W O R T H SUNTRUST CLOSES $600 MILLION IN FINANCING FOR TEXAS RANGERS BALLPARK ARLINGTON, TEXAS — SunTrust Banks Inc. has closed $600 million in financing for the Texas Rangers to fund the team's share of construction costs for its new ballpark, known as Globe Life Field. Set to open for the 2020 season, the stadium will feature a retractable roof and typical ballpark amenities. The professional baseball team is building Globe Life Field through a public/private partnership with the City of Arlington. PROVIDENT TO DEVELOP 37-ACRE MIXED-USE PROJECT IN PLANO PLANO, TEXAS — Provident Realty Advisors will develop The Legacy at Spring Creek, a 37-acre mixed- use project located at the northwest quadrant of Dallas North Tollway and Spring Creek Parkway in Plano. Designed by O'Brien Architects as a build-to-suit opportunity, the project will feature up to 100,000 square feet of retail space, three eight- to 10-story office buildings and a 200-room ho- tel. Construction is slated to begin in January 2018. INTEGRATED TO DEVELOP 308-UNIT MULTIFAMILY ASSET FORT WORTH, TEXAS — Southlake, Texas-based development firm In- tegrated Real Estate Group plans to build a 308-unit multifamily asset located at the intersection of Golden Triangle Boulevard and Katy Road in Fort Worth. Mark Boone of Realty Capital Management LLC represent- ed the buyer and seller in the sale of the 12 acres on which the property will be situated. EPC TO BUILD 292-UNIT APARTMENT COMMUNITY, TWO RESTAURANTS IN DENTON DENTON, TEXAS — Kansas City- based EPC Real Estate Group will build The Village at Rayzor Ranch, a 292-unit apartment community situ- ated on an 11–acre parcel at Rayzor Ranch Town Center in Denton. The property will feature a mix of one- and two-bedroom units and amenities such as a resort-style pool, outdoor grilling areas, a fitness center and a dog park. EPC expects to break ground on The Village in early 2018. Construc- tion of a 7,500-square-foot Cheddar's Scratch Kitchen and a Zoe's Kitchen at Rayzor Ranch is also scheduled to begin later this year, with mid-2018 as the target opening date. ARCO/MURRAY COMPLETES $10M WAREHOUSE PROJECT IN DESOTO, TEXAS DESOTO, TEXAS — Dallas-based construction firm ARCO/Murray has completed a 145,000-square-foot warehouse project in the Dallas metro of DeSoto. The project was undertak- en for SEW Eurodrive, a South Caro- lina-based motor manufacturing firm. Construction on the facility, which features 20,000 square feet of office space, 28-foot clear heights and mez- zanine storage, began in June 2016. KDC, MEDC TO DEVELOP MIXED-USE PROJECT IN MCKINNEY MCKINNEY, TEXAS — KDC and the McKinney Economic Development Corp. (MEDC) will develop South- gate McKinney, a mixed-use project that will be located at the interchange of U.S. Highway 75 and the Sam Rayburn Tollway in McKinney. The size of the property has yet to be de- termined, but site proposals include plans for freestanding office space, re- tail and restaurant space, multifamily residences and two acres of common space with a stage for performances. WINCO FOODS BREAKS GROUND ON 82,077 SF STORE IN CARROLLTON CARROLLTON, TEXAS — Idaho- based grocer WinCo Foods has begun building an 82,077-square-foot store within Trinity Valley Shopping Cen- ter, a 300,000-square-foot retail center located at the corner of State Highway 190 and Josey Lane in Carrollton. The grocery store will anchor the center and is expected to open during the first quarter of 2018. Weitzman, which handles leasing and management at Trinity Valley, is overseeing construc- tion of the property. Keri Samford, Executive Director of Development 972.624.3127 • edc@thecolonytx.org • www.TheColonyEDC.org - SMARTASSET.COM OFFICE/FLEX • INDUSTRIAL • RETAIL • RESIDENTIAL IDEAL FOR CORPORATE RELOCATIONS AWARD-WINNING COMMERCIAL DEVELOPMENTS BUILDING FOR THE FUTURE UPSCALE LIVING & RECREATION IN THE HEART OF D/FW METROPLEX

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